Wednesday, May 30, 2012

Living Rent Free! Things you don't think you need to spell out

In the winter, it's not appropriate to open your windows, put an exhaust fan in and run a space heater.

Yogurt and other items need refrigeration.

You use the bathroom, so you need to take turns cleaning it!

Paper towels and toilet paper are not included and it is not appropriate to put toilet paper in the paper towel rack.

If you make less than 14000 per year you cannot afford 550 per month rent.

Monday, May 7, 2012

Living Rent Free! - Buying

So now you've determined the location and the size of the house you would to purchase. Now it's time to start looking and eventually buying! As a buyer there is no point in not using a licensed real estate agent (it doesn't cost you anything, well sort of....but that would require a separate blog post)
  1. Find out how much money you have available, by getting pre-approved by a lender
  2. Look at the monthly cost of different loan amounts, just because you can get X dollars doesn't mean you should!
  3. Begin working with a realtor to narrow your search and locate properties that fit your criteria
Additional tips and considerations:
  • When looking at houses pay particular attention to the major systems: roof, heating, A/C, bathrooms, and kitchens. These are going to be the most expensive items to replace or update, so these need careful consideration when comparing houses and eventually making an OFFER.
  • Right now it is still a buyers market, make lots of low offers! If it isn't embarrassingly low, it's not low enough.
  • To get the best deal possible, the SELLER MUST WANT TO SELL MORE THAN YOU WANT TO BUY.