Home Financial Modeler
by Pinnacle Paradigms Inc.
Postings
1st time home buyer? Avoid these mistakes.May 30, 2022
A lack of experience can lead to bad decisions, based on incorrect assumptions. For example:
* Doubting you’ll qualify for a mortgage. Mortgage pre-approvals are free, so get one.
* Not understanding down payment options. Costs differ depending on the percent of your down payment. Talk to your mortgage broker to understand the options.
* Focusing on just the interest rate. Mortgage payment structures, and options can have a significant impact on your overall cost of ownership.
* Forgetting to budget for closing costs.
Use Home Financial Modeler to organize your house hunting. Build financial models. Include photos, and notes. Rate neighbourhood amenities, and compare the properties you viewed to determine the best fit for your family.
Plan to start flipping houses?May 27, 2022
Television shows make it look easy and fun, but remember it’s a business and needs to be run like one. When flipping houses don’t make these mistakes:
* Don’t underestimate the time and money necessary to complete the project.
* Don’t take on jobs outside your own capabilities, use professionals.
* Don’t make an emotional buy. Wait for the right opportunity that fits your situation.
Use Home Financial Modeler to organize your house hunting. Build financial models. Include photos, and notes. Rate neighbourhood amenities, and compare the properties you viewed to determine the best fit for your family.
Considerations when selecting a real estate lawyer.May 25, 2022
You’ve just made a significant investment decision in buying a home and now you need a lawyer to close the transaction. When interviewing/selecting a lawyer consider the following:
* Do they have experience with similar transactions? For example, cottages and rural properties may have different concerns than an urban property.
* Do they answer your questions in a way you understand?
* Did they supply references and were the references positive?
* Do you feel comfortable and trust they will represent your best interests?
Use Home Financial Modeler to organize your house hunting. Build financial models. Include photos, and notes. Rate neighbourhood amenities, and compare the properties you viewed to determine the best fit for your family.
Need a home inspector?May 23, 2022
A home inspection provides an independent assessment of the true condition of your next home, but how do you find an inspector? Consider:
* Getting referrals from trusted people,
* Checking local online communities,
* Ensuring the inspector is certified by ASHI, InterNACHI, or the National Academy of Building Inspection Engineers, and
* Interviewing multiple inspectors. Getting sample reports to determine if they contain detailed property observations versus generic information.
Use Home Financial Modeler to organize your house hunting. Build financial models. Include photos, and notes. Rate neighbourhood amenities, and compare the properties you viewed to determine the best fit for your family.
Activities before putting your house up for sale.May 20, 2022
Deciding to sell your house is a major step requiring planning and work. Your pre-sale work begins immediately after the decision is made. Make sure to leave time to complete this work before the sign goes up. Consider:
* Researching real estate agents to find the one that best works for your situation,
* A pre-sale home inspection, but leave time to address important findings,
* Decluttering and staging your home, and
* Deep cleaning.
Use Home Financial Modeler to understand selling costs, determine target and minimum sale prices, forecast your equity, and reap the financial rewards you deserve.
Know your budget when buying a house.May 18, 2022
Falling in love with a luxury home is easy, but can you afford it? Before shopping get a loan pre-approval and set a price range. Start shopping at the low end of your range. Remember emotional buys and going outside your price range can put you in a financially dangerous position.
Use Home Financial Modeler’s Livability Model to determine if you can afford the property and maintain your family’s lifestyle. Build financial models. Include photos, and notes. Rate neighbourhood amenities, and compare the properties you viewed to determine the best fit for your family.
Consider long-term plans when buying a house.May 16, 2022
Buying a house is expensive and typically represents a multi-year commitment. Ensuring the house meets your current needs is essential, but ignoring your future needs may cause you to be back in the market sooner than planned. Consider future plans when determining the features you need, such as:
* Getting married,
* Having children, or
* Providing a home for a parent.
Use Home Financial Modeler to organize your house hunting. Build financial models. Include photos, and notes. Rate neighbourhood amenities, and compare the properties you viewed to determine the best fit for your family.
