Archive for the ‘Buying’ category

Housing Options in London

May 5th, 2011

London doesn’t quite have the crunched space that Manhattan has, but it certainly has its high prices. Most people who reside in this fabulous city cannot afford to live in houses the way they might be able to in other metropolises. Millionaires live in flats and thirty-five year old working professionals live in house shares.

So what are your housing options, realistically, if you choose to live in London? Well it depends on where in the city you want to live for starters. If you want to live central, ie. from Gloucester Road to Covent Garden you’re going to be paying the big bucks. Unfortunately the same is true for the nicer parts of North London, like Hampstead, as well as East London. The sad reality is that even the grungier areas of London, that are now deemed as cool and trendy are becoming really expensive.

If you are single and looking for a good deal on rent then you’re probably best off looking out for a houseshare. The more people there are in the house, the cheaper your portion will be. Another advantage of sharing a house with a few people is that you get to meet new friends, and you have access to all of the niceties that come with living in a house (as opposed to a flat), like a garden, stairs, a front porch and more. » Read more: Housing Options in London

5 Reasons To Buy A Home

May 5th, 2011

Recent events in the housing market have many people questioning if home ownership is still something to aim for. Even as the nation continues to recover from the economic downturn, the benefits of purchasing a home of your own remain as strong as ever.

1. Good Investment

Renters receive no return on what they pay out in monthly rent – it’s virtually money out the window. Even though renters are paying for living space, committing to a home purchase and monthly mortgage creates much more potential for a return on the investment. As you pay your mortgage each month, you are building equity and increasing your net worth. Equity is the value of the property that you own or what you have paid off each month. A home’s equity is also combined with the amount of appreciation, or amount that your home has increased in value over time.

Building up your home’s equity also opens the door to mortgage refinancing and home equity loans. Homeowners then have more financial flexibility towards financing large expenses such as remodeling, college tuition or debt consolidation. Of course it’s always possible that the value of your property will go down and not up, as many homeowners throughout the country have experienced over the past few years. Still, if you look at the value of real estate over the long term it has gone up over time. Like any investment buying a home involves risk – research the real estate market in your area to help you make a decision that feels right for you. » Read more: 5 Reasons To Buy A Home