Financial Considerations Of Home Ownership

While we often, refer to, home ownership, as a core component, of the American Dream, it’s important, for us, to take a realistic look, at the obligations, and necessities, involved, if this is, to truly be a dream, instead of a potential nightmare! Before embarking on this house – hunting, process, carefully, introspectively, objectively, examine and consider, your personal reasons, persona, what makes you happy/ satisfied, and whether, it’s a good course, for you. After, you’ve determined, what’s best, for you, and know, what you want, it’s essential to clearly consider, and examine, what you might be able to afford. This means, proceeding, in a responsible, well – planned, and considered manner, focused, on preparing for the many contingencies, of home ownership. With that in mind, this article will attempt to briefly consider, review, and discuss, a few steps, which should, both reduce unnecessary stress and hassle, and maximize the potential enjoyment!

1. Reasons for buying that house: Why do you want to buy, any specific house? Does it meet your present needs, and into the future? Or, are you looking, at a shorter – term, and want to live, there, for a shorter – span, and, then, relocate, when needed and necessary? Are you the type of person, who enjoys moving, or would you rather, remain in your present quarters? What are your needs, goals, and priorities, in terms of location, neighborhood, schools, costs, transportation, conveniences, etc? Why, this house?

2. Down – payment: Do you have the necessary funds, to have the down – payment, while avoiding, placing too much stress, on yourself, because of using these funds? Smart homeowners prepare, and make their journey, far less stressful!

3. Needed reserves: The best way, to proceed, is to put together, several reserve funds, in order to ease your way, forward! Once, you’ve purchased your house, most people face monthly fixed expenses, which includes mortgage payments (including principal, taxes, and escrow items, such as insurance, etc), utilities (electric, heat, telephone, television, internet, etc). Realize, owning a house, requires preparation, for affording the costs of regular repairs, including appliances, heating, water, etc. Create a reserve fund, for this specific area. Also, realize, houses require attention, and certain items, have useful lives, and will need replacing, such as roofs (rated from 20 – 40 years), appliances (including washer, dryer, refrigerator, oven/ stove, dishwasher, etc), painting or power – washing, etc. At some point, many realize, their house needs certain upgrades, renovations, etc. The better prepared, the easier this process!

Green Homes for Sale

If you were looking at real estate ads and saw one that stated “green homes for sale”, you may at first wonder why anyone would a listing stating the color of their home. This is not what this type of ad means. It is just stating that the homes for sale are earth friendly and energy efficient. Green homes for sale are being built in an effort to less the carbon footprints we leave behind.

When you purchase a green home they will contains all or some of the following features that are earth friendly.

• Fiber cement siding
• Alternative power system like wind and solar
• Recycled building insulation
• No VOC stains and paints, which stands for volatile organic compound. It is any compound that is carbon-based and will vaporize at standard room temperatures. Some of the more prevalent ones are formaldehyde, acetone, and methane.
• Solar powered hot water heating

Even if you do not live in a green home, there are things that you can do to increase your energy conservation. It will even help contribute to saving our environment. Making your home a green home can help to reduce global warning and save the homeowner money. It will significantly better the environment and require little effort for the homeowner.

Making a green home

• Instead of using the standard incandescent light bulbs start to use compact fluorescent light bulbs (CFLs). When you switch to the CFL’s you can save per year over a hundred dollars. You can find these lights in the same aisle as your regular bulbs but they are little more expensive. In the United States, if every house switches the type of light bulbs they were using to CFL’s there would be a reduction in greenhouse gas emissions of one trillion pounds.
• Install a thermostat that is programmable-with this type of thermostat the homeowner can program the thermostat so that the air conditioner or heater is off when homeowners are not at home. The programmable thermostat can be programmed so that it will cool or heat your home shortly before the homeowner arrives home. This change could save the homeowner ten percent or more on cooling and heating costs
• Plug air leaks-this will help the homeowner save money and practice conservation. You can do this by installing weather stripping, keep the temperature in your home from rapidly fluctuating, and caulk windows correctly to stop air drafts.
• Energy Star® rated appliances-these reduce the amount of electricity that is needed to operate them so they have less of an impact on the environment. They will also save on your energy bill.

The Benefits of Having an Energy Star Certified House

For two decades, the Environmental Protection Agency (EPA) is pushing energy-efficiency in homes. From this, the Energy Star in new homes was conceptualized. It aims to prevent pollution of the air while at the same time giving homes the much-needed adjustments towards energy efficiency.

For home buyers who are on the hunt for their dream homes, it is very important to look for Energy Star compliant homes. While the prices may be higher than homes established right before its implementation, buyers are guaranteed to save along the way from the prices slashed on energy costs.

And because going green is an in thing, those who invest in Energy Star homes are also assured of profits when they choose to sell them.

New construction homes are also required to follow new building codes. These requirements are also in line with the energy-efficiency methods prescribed by EPA.

How about appliances that you’ll be putting in your new homes?

You don’t have to worry too. Appliances manufacturers are also following Energy Star prescriptions. Thus, when shopping for TV, refrigerator, aircon, or any other home appliance you want to add in your new home, just look for the Energy Star sign. With this, you are assured that they are more energy-efficient than same appliances without such compliance tags.

Any other benefits, aside from less operating costs on monthly basis?

New construction homes that comply with Energy Star have added benefits. Given that the design is geared to cut energy costs, you can be assured that during warm months, the windows can give entry to natural and cool air. During cold months, the added insulation can provide heat and in fact trap the warm air circulating inside the house.

Another benefit that comes with Energy Star homes is the improved air quality inside the house. The ducts are made sure to be tightly sealed. They prevent air pollutants and even pests from finding their ways into the house. An improved indoor air quality is beneficial to the health – especially to those who have respiratory conditions.

If you are indeed a first time home buyer and you need the help of mortgage lenders, choosing Energy Star homes is quite a good choice. Many lenders are favoring these homes and within your locality, you might just be able to score one with lower origination fees.

Reasons Some Rent, Instead Of Own

Although it is generally, considered, to be the American Dream, owning a home, of their own, is not, for everyone! Although studies indicate, in the longer – run, it is more cost – effective, to be an owner, than renter, there are certain individuals, who, it is often, not for. With that in mind, this article will attempt to briefly, consider, identify, and discuss, some of the items, which might make someone, a less, than stellar, candidate, for home ownership.

1. Down – payment: There might be several reasons, certain individuals, lack the necessary down – payment, needed, to put down, in order to purchase a house. Some lack the necessary discipline, while others might not have the financial necessities, or have experienced major obstacles (economic/ financial, etc), which have made it challenging, to put together the funds. Others are afraid, to proceed, because they lack the self – confidence, etc, which makes them, ready, willing, and able, to handle the stress, etc.

2. Reserves: In addition to having the needed, up – front, funds, there are many other financial obligations. and preparations, needed and necessary! Wise individuals put together, at least 6 to 9 months, equivalence, in case of any interruption in earnings, etc. In addition, there should be separate reserves, for initial changes, or modifications, most new homeowners, perform. Then, money should be put aside, for regular repairs, upgrades, modifications, renovations, and unforeseen issues.

3. How much do you want it?: Are you prepared for home ownership? When you rent, your landlord is responsible for necessary repairs and maintenance, but when you own, you not only have to pay for it, but be responsible for either, performing the task (if you are capable) yourself, or bringing in a professional, to take care of it. This includes: electricians; plumbers; painters; concrete workers/ masons, etc.

4. Confidence: Do you have the necessary degree of self – confidence, to trust yourself, and your abilities, to handle the stresses and tensions, involved, in owning, a home, of your own? If the stresses and tensions, are things, you don’t want to get involved in, and/ or, handle, then, owning a house, may not be, for you.

While I personally, enjoy owning my own home, it is not for everyone. One should seek, to better, know, what makes him happiest, most satisfied, and serves his personal self – interest, etc.

The Irresistible Flats in Zirakpur for You to Buy

Amidst the three basic necessities of our life, home is one of them. It is the hearty desire of every individual and family to own at least a house in the preferred location. If you have not yet owned any home, there is no need to worry at all. Now every single family will have the golden opportunity to become the owner of a flat in the fully developed capital city of the state Haryana.

The many of the reputed builders have come together and made the people realize the limitless benefits of flats to buy. There are some companies engaged in the construction of residential and commercial projects at the different locations for the people to make the purchases. The residential projects include 1 BHK, 2 BHK, 3 BHK, and 4 BHK with fully furnished home and ultra-modular kitchen. The marbles, tiles, stonework, furniture works and other attractions are captivating enough to win your sweet little heart.

The Unlimited Benefits of Buying Flats in Zirakpur

Some of the Flats in Zirakpur and at other places are so well designed by the renowned architect that a single look is enough to captivate your mind. It gives you the feeling of staying in a five star environment at home. So why to wait now? Rush to visit the actual site and take a close look at the ready to live flats available for the possession for you in your own dream city near Chandigarh. You are sure to gain many other features in addition to the unavoidable deals on your bookings.

One should not miss the chance to win the attractive property deals. There are many advantages of owning your own house. It is indeed a matter of proud to become the owner of a Flats in Zirakpur, Chandigarh- the beautiful city in the country.
There are many good reasons that will encourage you make your stay in the city. Some of the major attractions include

(i) 2 states: it is a union territory administered by the Central Government. It is the capital of two states i.e. Haryana and Punjab.

(ii) Well Planned city: It is the first planned city in the nation. The town planning is done in a systematic manner in order to avoid the unwanted problems occurring due to natural calamities and manual activities.

(iii) Tricity: The neighboring cities of Chandigarh, Panchkula, and Mohali together form the ‘Tricity’.

It has been observed that growth and development is the ongoing process in the city as a result of it the rate of the property is constantly increasing. It is indeed a very good decision to make the investment in the booking real estate market in the city.

If you are looking for Flats in Zirakpur at unmatched rate and additional free facilities, get in touch with the 100% dependable property deal service provider Green Lotus Avenue in the capital city.

Tips for Getting New Clients As a Realtor

Admit it or not, finding clients on the vast real estate market is very challenging. It is challenged by the existence of big real estate firms which employ hundreds of experienced real estate agents on their teams. If you are a newbie, you could easily be swallowed by the efforts exerted by the established firms. But have you ever think that they also started out as rookies in the field? If you are in this situation, here are some tips to at least give you a leverage on finding the right clients for you.

Create your own circle of offline connections and influences. As much as the online world is essential to widen your connections, the offline connections and influences is equally essential. Start with your family and friends. Then add your past classmates even those from your elementary days whom you still remember. Your teachers can be great additions. Move on to those whom you are tapping services as professionals such as your doctors, dentists, hair stylists, pet groomers and fitness coaches. The parents of your children’s classmates and friends can also expand your offline connections. If you have business contacts, add them as well. Don’t forget your neighbors. They can be great sources of referrals.

Build a better online network of friends. Through social media, you, as a real estate agent is bestowed greater power to enhance online connections. Your network can be a greater web of interconnected persons starting with your family members down to their own friends, acquaintances, friend of friends, and so on. Before you notice it, your network has expanded to include professionals of diverse titles not only in your locality but also in adjacent towns and nearby cities. If you think they are not relevant, you may be wrong with the impression. Anyone in your online network of friends can always be a great source of referral even those who you seldom see to be adding activities in their social media accounts.

Send mailers, both online and offline. Now that you have established both your online and offline connections, it is time to introduce yourself as the rookie real estate agent. For offline mailers, be sure to have a formal tone. Give your full name, license number, the firm you are connected too, its address, and contact numbers of you and the firm. Inform them of the services you are offering.

For online mailers, the same can be followed. But since it is an electronic form, you may want to add some enhanced graphics and video.

Create your own website. For personal branding, having an own website is an essential. This is where you can provide listings, value added services, frequently asked questions, and even informational articles that can help spark the interest of your potential clients. Support it with a blog, and connect it with your social media accounts in different real estate online platforms.

FINANCIAL DEFENSE The True Path to Wealth

“Congratulations! You play fantastic offense” This was said sarcastically by Thomas J Stanley in his famous book, The Millionaire Next Door. I have not read or listened to this book in more than eight years, but I still remember this phrase. That one, and the millionaire saying, “I drink two types or beer. Budweiser and Free.”

The message in his book is that you need to watch your spending with more tenacity than to increase your income. Obviously, it is a combination of income and spending that creates wealth, but controlled spending is far more important. As long as you spend less than your income, you will be moving forward, and consistent progress will make you rich! The problem I often see is that people spend what they make, or worse, spend more than they make. In either of these scenarios, you are at best staying even, but most likely going backwards. Many want to be investors and entrepreneurs, drink the get rich Kool-Aid and focus all their energy on increasing income. That is what sells coaching programs, mentor-ships and advertising on TV shows. With energy and focus comes success, so many of these entrepreneurs and investors see results. And with the positive results of higher earnings comes… higher spending!

I am fortunate enough to live in a great neighborhood. Most people in the neighborhood are high income earners, but several of them live above their means. It is not uncommon for me to see neighbors move out of the area because they can no longer afford to stay. They are the same ones with the new cars and the extravagant parties. It is a look at me attitude and peers feed on the pressure to keep up. This creates a little spiral of friends living outside their means. But hey, at least they are all moving backwards together.

The ones that live below their means feel pressure to spend or get left behind. And on the surface, many of them do. One challenge about living below your means is it takes years before you realize the benefit. During those years it seems as though you are missing out. I see it so clearly and understand the pressure, but I also see a high percentage of our aging population that should be retired, working their asses off. They are stressed and busy and churning to get by.

If you have not yet, you owe it to yourself to read The Millionaire Next Door. This book really sank in for me on the power of financial defense. Of limiting spending and protecting your earnings. I am able to live in my neighborhood, provide for my family, enjoy my time away from the office, and many other benefits because of the control I had with spending as my income was increasing. As you invest earnings for income, instead of spending it, you will witness exponential growth of income.

If I recall correctly, the quote from the book “Congratulations! You play fantastic offense” was referring to a broke high earner. He made more than his peers but would miss a mortgage payment if his income stopped. That is not a comfortable life, yet he was proud of it. If I could help one piece of financial advice sink in, it would be to focus on defense before offense.

Travis and I both recently read the book, Set for Life, by Scott Trench. This is another fantastic book focusing on the correct way to build wealth and retire early. It is a simple formula. Spend less than you make and invest the difference.

Owning a Classic Craftsman Home in Northeast Los Angeles

NELA home architectural styles vary widely: Modern, Art Deco, Victorian, Tudors, and others. But perhaps the Craftsman residences get the most attention.

Craftsman homes are among the most sought after real estate in Northeast Los Angeles neighborhoods. One of the many reasons why homes for sale in Pasadena, Eagle Rock, Hermon and elsewhere have become hot commodities is a renewed interest in so-called “character homes”. But Craftsman homes come in significant variations, sizes, and conditions – opening up opportunities for homebuyers in a range of prices.

The high value – i.e., prices ranging from $400,000 on past $2 million – being placed on Craftsman homes in NELA is an interesting turn of historical events. These solid structures were originally designed for the advent of middle class home ownership in the late 19th and early 20th century. Gone were the features of Victorian homes that included butler’s quarters and kitchens only used by household staff. Instead, the family prepared their own meals while some features of kitchens blended with dining rooms – which are why there are those built-in, glass-front cabinets for dishware that was previously stowed out of sight from formal dining rooms.

The characteristics of Craftsman homes range from low-pitched roofs to deep eaves, exposed rafters (usually with distinctive decorative knee braces), dormers, one- to one-and-a-half stories, large fireplaces (often flanked by built-in cabinetry), and double-hung windows. Outside, Craftsman bungalows had large porches that welcomed newcomers to the California lifestyle, which offered a longer outdoor season for people arriving from the Northeast and Midwest.

Note that Bungalow and Craftsman style homes are often – but not always- the same thing; Bungalows always have that front porch (“veranda” if you prefer), while Craftsman sometimes do not. (If looking at homes for sale in Glassell Park, Garvanza or Mt. Washington, you might nerd out with your realtor by looking for the distinction.)

A further distinction might be made between Craftsman homes designed by certain architects (Greene & Greene built the trend-setting larger versions, which drew from Spanish mission and Japanese aesthetics), while Craftsman-style homes had a lower cost and were more modest in proportions and features. Craftsman-style homes may have shipped by train in a kit (e.g., “Sears homes”) or been a much-replicated design used by 1920s developers who knew a popular style when they saw one.

What made Craftsmans so popular when first built is what makes them equally popular today. These solid buildings have a relaxed style, one that accommodates an easy flow between rooms and activities. Mothers and fathers making meals in the kitchen can take a break to help children with their homework while keeping an eye on something cooking on the stove. Throw a party on the veranda but some guests might easily drift inside to admire the Arts & Crafts detailing of the cabinetry, fireplace surround, or wainscoting. They are healthy, unpretentious and sturdy: anything standing today has withstood a century of seismic activity, testimony to the sturdy craftsmanship of these Craftsman homes.

Evolution of Green Real Estate Properties

The ideologies of the buyers in the real estate industry have been drastically changed over the years. All they need is eco-friendly or environmental properties with required facilities. Some of the environment friendly features are:

Use of renewable energy sources
The current trend in the market is demand for eco-friendly properties. Use of solar energy in water heating appliances, air conditioners and inverters can attract many buyers. This kind of energy sources can reduce their E-bills.

Rainwater collectors
Rainwater harvesting is effective way of storing rainwater for domestic usage. By using this method in our home, a large scale of water scarcity can be reduced.

Use of wooden furniture’s
Consumers are considering organic materials like wood and bamboo to be used in interior furniture. Plywood made from wood chips and window treatment, which include bamboo shades are some of the organic designs evolving in the green properties. Wooden furniture can add warmth, richness, comfort and finesse to the household area.

Natural landscaping
It is one of the important factors for the green real estate property. Properties, which have native plants and trees growing in and around the surroundings, have much demand among the consumers. A property, which has artificial grass lawns, requires lot of water to be supplied whereas native plants and trees require only seasonal rainfall to grow. Plenty of water can be saved by having natural growing trees and plants.

Eco-friendly interior insulations
Interior insulation in home is necessary as it affects the room temperature. Use of eco-friendly insulations with wooden chips, cotton, small broken pieces of stones and rocks, newspapers, cellulose insulation can reduce the noise and green house gas emission. Natural insulations have a low embodied energy and are fully disposable/recyclable at the end of their life.

Due to the increased demand in green real estate, many firms have started to promote their properties as eco-friendly homes. Buyers are showing more interest in having energy efficient products and systems in properties. Many financial institutions and private sector firms are investing huge money in green real estate predicting its demand in the future. According to government policies, investors who are investing in this sector pay fewer taxes compared to commercial sector investing. Green building construction has become increasingly popular and construction of such buildings has been a great challenge in long run. A green building is setting up new avenues in sector and increases the talent among the architects, environmentalists and suppliers.

Improving Seller Calls

It was a fall Sunday morning before a Denver Bronco game. I was playing fantasy football and desperately wanted to watch the pregame shows to make the best decisions for my fantasy team. There were bragging rights on the line after all, but instead of going to the remote, I went for my phone.

I had a small office in the basement of the house I was living in located in Thornton, a northern suburb to Denver. It was basically a hallway outside of the laundry room and my roommate was busy washing her clothes. I had to stand at my desk in order to let her pass each time she needed to check on things. There were several other places I would have rather been and other things I wanted to be doing. I did not want to be in that hallway with a phone to my ear while laundry was blasting away, but I had a goal to reach. I needed to make 30 calls before the Broncos kickoff.

This was my routine every weekend and most week nights. I had a great phone script, but it was the tweaking to that script, making it mine, and the practice on the phone that helped me become successful. I purchased more than 50 houses by calling sellers directly, and over the years I learned what makes an investor successful on the phone. Here are three keys in cold calling sellers that will make you successful.

Have a script. Routine breeds success. This is nothing new, but it is worth mentioning. The most successful people in the world, in any area, have a routine for what they do best. This could be a professional golfer, a builder, a waiter or waitress, or a school teacher. In business, if you find something that works and you do it over and over, you will become rich. It is really that simple. A script is your routine, it helps you work your way through a call and should be used every time you make a seller call.

Make the script your own. Although a script is extremely important, it can also hurt you. If you follow a script that you are not comfortable with and read it word for word, you will sound nervous and rigid. This will make the motivated seller uncomfortable and make them want to end the call. It is best to find a script that you can change a little to fit your personality. It is also important to know that you need to be prepared to veer from the script and go with the call. Enjoy the conversation. That is why I like real short scripts with plenty of flexibility.

Don’t sell on the phone. When I was just starting, the script I was using had me make a creative offer on the phone. If the seller was open to the offer, I would set the meeting and negotiate the numbers. It took hundreds of calls to get an appointment with a seller, because I was over qualifying them by selling on the phone. Maybe someday your time will be way too valuable to meet with sellers that you might not do business with, but for most of us, getting the appointment with a qualified lead is the most important result. The way you do this is to qualify their motivation and then schedule a time to view the house; the goal is not to get a deal on the phone. If they ask for an offer you can simply say you need to see the house before you can discuss it and that they should invite you over. The qualifying question in my script is, “Sounds like a great house. Why would you even consider selling?” The answer to this question will give me enough information to schedule a meeting or not.

Focus on “no” oriented questions and never trap your lead. Many sales books teach “yes” oriented questions. Hearing the word no is scary, and as a sales person we are taught to get our prospect saying yes. This is done by asking questions that the only answer is yes. For example, you might say “Most people are looking for the best price for their home, do you agree?” Of course they are going to agree with that. Doing this can create some unease and make them uncomfortable with you. People want to feel like they have options and giving them the option to say no can be powerful. A question like “Do you disagree?” will be much more powerful than “Do you agree?”

Another strategy often taught in sales that makes people uncomfortable is giving them limited options. I think this can be extremely useful and is a great strategy, but you need to be careful. I had a solicitor call me the other day asking for a donation. His questions were, “Would you like to donate the normal $50 or would $25 be easier?” This is a great close when you have rapport with someone, so it could be very effective in a meeting, but it made me hang up the phone. I don’t know you!