Pins from around the country: secret beauty

One of our boards from Pinterest is focused on some of the more beautiful cities around the country that are hidden gems. Tired of the big city hustle and bustle, check out some of these spots if you are thinking about relocating your family. Have some more ideas for us? Share them in the comments.

Seven Reasons Why You Should Buy a Home

Conventional wisdom has dictated that buying a home is always a better bet in the long term than renting it. House prices in the United States have risen rapidly during the past 50 years, making the land owners richer. The financial meltdown of 2007-08 had had a lingering devastating impact on house prices- the prices are still below the peaks reached just before the financial crisis. Despite being lower than the peak, the values have recovered much during the past five years, and they are going to continue increasing. The current financial scenario provides ample reasons to buy a house. Here you will find seven compelling reasons to buy a house:

(1) You are not at the mercy of your landlord

There are neighborhoods where it is cheaper to rent than to buy because monthly mortgage payments are higher than the monthly rent. This makes renting a cheaper option in the short term. In the long term, however, things are different. Your monthly mortgage payments are fixed. This provides some stability to your expenses but your landlord will increase the rent every year (or in between if the agreement says so). His whim can make your monthly budget spin on its head.

(2) It is cheaper to buy

Inflation eats away your mortgage payments and they become more affordable down the years. You may initially struggle to scramble a $600 monthly mortgage payment but after a few years inflation will make $600 a paltry amount to pay for a house. Your rent increases every year so you are unable to benefit from inflation. In fact, it negatively impacts you.

(3) Tax breaks

You save on tax when you buy a house. The federal government offers attractive tax rebates on mortgage interest. You will have to check their website to find out how much you can save on tax.

(4) Financial discipline

The down payment for a typical house is 20 per cent. It means you have to come up with $200,000 to buy a million dollar house. It will take an intense financial discipline to save this amount which is good for your financial health.

(5) Wealth generation

Renters practically burn their money when they pay to the landlord. In contrast, homeowners build equity by paying their mortgage.

(6) Choice and support

There is a huge choice in the housing market for buyers. Renting does not always offer many choices. House buyers get support which the renters cannot. Buyers get tax rebates and excellent counseling options. They can also use an online report to evaluate the current worth of the property. One accurate report can be found at Neighborhood IQ for FREE! And then there are other advantages as well.

(7) It’s yours!

Damn, it is yours! You can paint the roofs yellow, move the walls, and completely redesign the kitchen and bathroom because it is your house. As a tenant, you’d be a lucky guy if your landlord grants you the permission to tweak even a little with his house.

With enough reasons, get prepared to buy your own home. But make sure you check the prices of the house you are going to buy. You can get free home valuation reports at Neighborhood IQ- that will help you create a budget before you spend the money.

Pins From Around The Country: Staycations

One of our boards from Pinterest is focused on some of the great locations to live in the United States where you don’t need to leave to go on vacation. Have some more ideas for us? Share them in the comments.

Thinking about Refinancing? Here are Reasons Why It’s a Good Idea

Like many homeowners, you probably want a lower interest rate and a shorter mortgage. If you are considering refinancing your mortgage, it can take a lot of effort and time to begin the process. While there are some not-so-pleasing aspects of refinancing, it can be a good financial move if your mortgage payment is lowered.

Under the right conditions, refinancing your home can certainly benefit you in the long run. It all depends on your particular financial goals. Let’s take a look at some of the reasons why refinancing is a good idea:

You can get a lower interest rate. Since interest rates are at a record low right now, you can get 30-year and 15-year mortgage rates far below 5%. This is one of the best incentives to refinance because it not only lessens your monthly payment; it also allows you to build equity in your home quicker. You can save thousands of dollars in interest by refinancing, and you can pay off your mortgage debt faster. According to lending companies, reducing your interest rate by 1% is an incentive to refinance.

You can shorten the term of your loan. If you switch from a 30-year mortgage to a 15-year mortgage, the shorter loan can fit into your budget. Your monthly payment may only increase by a few hundred at the most, and this may be a feasible option for your household. You can use a mortgage calculator to estimate your new payment.

You can lower your monthly payment. If your goal is to have an extra couple of hundred dollars every month for savings, investments or vacations, refinancing at a lower interest rate can accomplish this. You can also save a great deal of money in interest. Keep in mind that lowering your monthly payment can add years to the term of your loan, but it can be extremely helpful.

You can get a fixed-rate loan. Your adjustable-rate mortgage can be refinanced for a lower interest rate, and you can lock into this rate for years to come. You can also plan a fixed payment with more ease every month.

You can cash out your home equity. This can be a savvy move in certain instances. You may want to cash your home equity to invest and start a business. Or you may simply want some money to pay for other expenses or manage debt.

You should also take into consideration the fact that refinancing involves closing costs and other fees. It may cost thousands for a new mortgage, but only you can determine if the costs of refinancing is worth it in the long run. Also, if you are considering moving anytime in the next few years, refinancing will probably not be the best option.

Refinancing means that you need to know the value of your home. You can get a free home valuation report from Neighborhood IQ by clicking here to find out your home’s worth to help you decide if refinancing is a good way to go. It is important to weigh the pros and cons of your unique situation. With careful planning along with knowing the value of your home, refinancing could turn out to be one of the best financial decisions you have ever made as a homeowner.

Pins from around the country: Neighborhoods

One of our boards from Pinterest is focused on some of the neighborhoods around the United States. Whether you are a transplant in a new city, or you have been somewhere all your life, you may be shocked at the cool locations around you. When planning your next move, don’t just focus on the house, the neighborhood that your new home is in can have a big impact on your families lives… for the better or the worse. Have some more ideas for us? Share them in the comments.

*HINT* Click on the image below for more information about the location *HINT*

Do you know the real value of your home?

Since the real estate market peaked nationwide in 2007, home values have dropped more than 18%. If you are thinking about selling, refinancing, or are in the market to buy, you need to arm yourself with the facts. Neighborhood IQ offers a free home value report that is powered by the same tools and data that the big banks use.

Don’t operate under the false perception that the value of your home is what it used to be. Don’t buy a home without knowing what it is truly worth. Most of all, don’t sell your home without getting yourself the best deal you can. If you have any questions, we are here to help. Before you do anything else, get your free home value report now. Click here to get your free report now from Neighborhood IQ.

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