Homeownership has continued to struggle for the past ten years. That saw a massive yet brief change in 2020 due to the pandemic. Because of the vast reduction in spending, interest rates were at record lows. While the gigantic homebuying wave has primarily subsided, homeownership is still at 65.6% in Q2 2021. Now potential homeowners face a challenging dilemma. Should they forego their dream of owning a home in favor of renting for cheaper? Or is it a better idea to double down and buy a house anyway? Here's an extensive comparison of the pros and cons of homeownership.
In the US, home refinancing for single- and multi-family homes increased by 150% from 2019 to 2020. That's more than twice the increase for new mortgage originations. This means more people refinanced existing loans compared to those who took on new loans.
Investing in real estate is a great opportunity to earn passive income while you are diversifying your portfolio. However, if you are unfamiliar with real estate investments, you may find that you make real estate investment errors and lose out on your potential earnings.
Owning your own home is a truly wonderful accomplishment. Not only do you have a place to go and raise your family, but you also have a nice valuable property that you can use as an investment if that's something you are inclined to do.
Where we live can significantly affect the quality of our lives, which is why we should be careful when choosing the type of property to rent or buy. Living in a home that's too small or too expensive will likely cause stress and prevent us from being productive during the day.
If the time has come to begin renovations around your home or business, securing a high-quality contractor or subcontractor is the first step in the process. Skilled professionals can remodel, redesign, and renovate your home, restoring and improving the original structure.
"It takes a village" is more than just a proverb about parenting. It also applies to how people go through life's big transitions. When you first started school, you relied on your teachers and classmates to help acclimatize to the new experience. When you got your first car, you need the mentorship of a driving instructor, parents and older siblings to get into gear.
If you own rental property, you know that your first impression of a tenant may not be an accurate one. Someone may seem polite and professional when you first meet them and end up paying their rent late, ruining your carpeting, and having parties late into the night.
Not all land is created equal! Any real estate agent can tell you that. You can easily test this fact by looking for property listings in a specific area. You'll notice that some value higher than others although they are neighboring properties. There are many reasons for this phenomenon, one such reason is a shoreline.
Most of us have dreamt, at some point or another, about living in a huge and beautiful house. However, although it's a goal that some people attain, it doesn't mean that it is easy or cheap. Because of that, most people take out a mortgage, as otherwise, they wouldn't be able to afford to spend so much money.
The real estate market is an institution with long-held practices and beliefs. There is a checklist of requirements that realtors will walk a seller through, a tried, tested, and trusted checklist. But this rigid way of approaching the sale of a home has left little room for thinking outside of the box, with most real estate agencies offering the same predictable service. But there is an Ottawa-based agency that takes pride in doing things differently; the Feely Group takes the futurist approach to an old-fashioned real estate market.