Buying a home is often the biggest single purchase you’ll ever make. But it isn’t just choosing a home to buy that’s complicated. You’ve got to think through neighborhood issues, size issues, and cost issues. Buying a home can also include legal issues, construction or building concerns, and have serious tax implications. Financing your home purchase is another big topic of interest for most home buyers. From this topic page, you’ll be able to find articles and videos that help you understand how to balance what you want in a home with what you can afford to spend. You’ll also be able to refine your search about buying a home by using the topic cloud on the right navigation.
Purchasing A Duplex With Friends
By Ilyce Glink| 2004-06-11T00:00:00-05:00 June 11th, 2004|
Two families want to work together to purchase a duplex, but there are a lot of issues to think through before buying property with friends. The two families should think about how they want to own the property to keep each side free of legal risks should the other family not follow through on their mortgage responsibilities. A real estate attorney can help these two families work out their purchase and create an arrangement that works out for everyone.
Compromise Buying For The Perfect Home
By Ilyce Glink| 2004-05-07T00:00:00-05:00 May 7th, 2004|
One of the great myths of real estate is that you can get everything you want if you could just spend enough money. This myth applies whether you're buying a newly-constructed home, an existing residence or renovating the house in which you now live. But if you prioritize your wants and needs, you'll probably end up with all of your needs and a good number of your wants, as well.
Minority Homeowners
By Ilyce Glink| 2004-04-29T00:00:00-05:00 April 29th, 2004|
With interest rates still hovering at 40-year lows, the number of homeowners has soared to an all time high. But minorities still aren't buying homes at the same rate as whites, according to a new survey. Part of the reason is a lack of basic home buying information.
Building Code Determines Landscaping And Fence
By GlinkAndTamkin| 2004-04-16T00:00:00-05:00 April 16th, 2004|
What happens when you buy a home and redo the backyard with the help of your builder only to find out that the landscaping changes didn't meet the building code? Is the builder liable for violating the building code? What can you as a home owner do when your landscaping or new fence don't meet the community's building code?
Late Mortgage Commitment Leads To Canceled Deal
By GlinkAndTamkin| 2004-04-09T00:00:00-05:00 April 9th, 2004|
If a seller is late with the mortgage commitment, can the buyer cancel the contract? In general, many contracts, but not all, provide a certain amount of time for a buyer to obtain a commitment for financing for the purchase of a home. If a buyer fails to notify the seller within that time, the buyer waives his right to terminate the contract.
Book Review: Homeowner Tax Breaks
By Ilyce Glink| 2004-01-23T00:00:00-06:00 January 23rd, 2004|
Tax time is here again. For homeowners, there are many tax breaks just waiting to be picked. In "J.K. Lasser's Homeowner's Tax Breaks," Gerald Robinsion walks through scenarios that could result in a lower tax bill. As a tax attorney who used to work with the IRS, Robinson provides many real-life examples.
Fixer-Upper Or New Construction?
By Ilyce Glink| 2004-01-16T00:00:00-06:00 January 16th, 2004|
Ilyce answers a reader's question about whether to remodel a fixer-upper or demolish and begin new construction. A fixer-upper can be remodeled and appreciate in value, but a new construction will also increase the value of your property. You may not have to decide between a fixer-upper or new construction at all: check out your zoning laws. You may be able to rent the fixer-upper and live in the new construction home.
Will Job Change Impact New Mortgage?
By Ilyce Glink| 2003-12-08T00:00:00-06:00 December 8th, 2003|
A family is concerned about job changes close to the closing date of their new home. Fortunately, lenders no longer worry about what job you have as much as they like to see you gainfully, and continually, employed when you are buying a new home.
Cashing Out Investments To Buy Home
By Ilyce Glink| 2003-12-01T00:00:00-06:00 December 1st, 2003|
When buying a home, is it a good idea to cash out other investments for the down payment? It's hard to judge what will be the better investment for your saved money. The best advice is to walk to moderate course on all your investments.
Rising Home Values Challenge Buyers
By Ilyce Glink| 2003-11-18T00:00:00-06:00 November 18th, 2003|
If you already own a home, the fact that prices are rising 5 to 7 percent a year is good news. But what if you're looking to buy a house? Then you just want that appreciation to slow down long enough to buy something and join the party.