- Know your financial strength: Before you browse through the online listings or start visiting realtors to buy your dream home, ensure that your financial health is at its peak. You wouldn't want to risk losing your dream home because you didn't plan your finances appropriately. It is imperative that, as a first-time home buyer, you audit your finances. You will have to check your savings account, and only if you have three to six months of living expenses saved is it advisable to contemplate buying a new home. Also, it is imperative that you keep a tab on your monthly spendings since it will give you a fair idea of how to manage your monthly mortgage. Getting your finances in order is one of the first things that every first-time home buyer must do.
- Check for first-time home buyer's benefits: Before you decide on applying for a loan and calculating your monthly payment, check for programs that offer benefits to first-time home buyers. Such programs can effectively reduce the burden on first-time home buyers who would otherwise have to make higher monthly payments.
- Compare mortgage rates: It is common knowledge that the mortgage rate offered by one lender would vary from the mortgage loan offered by another lender. To ensure that you choose the right lender, it is imperative that you compare the mortgage rates offered by different lenders and choose the one that adheres to your needs and proves beneficial. For a first-time home buyer, comparing the mortgage rates can help them save a lot of money which can be used elsewhere.
- Meet the lender: Instead of meeting the realtors, first-time home buyers should consider meeting a lender. The lender will help you assess your credit score and determine the amount of money you will qualify for on a loan. This proves beneficial in case you are trying to qualify for a loan, and looking for the right lender can help you get into the program you were aiming for.
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Getting a closer look at health insurance policyRead More
While many of us strive to put aside some small portion of our earnings into a savings account or investment of some kind, a portion of financial planning that we tend to neglect is an insurance policy. Often, it might seem like a waste of money to pay out a premium year on year towards something that you do not immediately see the benefit of. However, obtaining several life insurance quotes and deciding on a suitable life insurance policy is essential for many reasons.
While life insurance is not about assigning a monetary value to someone’s life but life insurance planning can provide some degree of financial support to one’s family in the event of one’s sudden demise.
It is important to understand that more than being an investment that yields tangible returns on investments, life insurance must be understood as a risk management tool and must be treated as such. There are several plans that combine life insurance with mutual fund investments but these may be considered as a separate entity.
While the higher end life insurance premiums are surely expensive, you would find that opting even for a basic life insurance plan would not make a significant dent in your income, but would return considerably high death benefits to your beneficiaries. An added benefit to most life insurance policies is that they provide some degree of tax deductibility up to exempted levels.
Also, while there are any number of options available to get a life insurance quote online, including no exam quotes, it is always better to meet your insurance agent in person, and request his or her guidance in walking you through the nitty gritty of the policy you wish to take so that you are fully aware of what the specific policy covers and what your family or beneficiaries are entitled to receiving. You can always compare different life insurance policies and also check for life insurance no medical exam policies.
Smart kitchen cabinet ideasRead More
Cupboards and cabinets are at the heart of space management for every home. Especially kitchens, with their myriad equipment, pots and pans, spice jars and boxes of this and that, require carefully planned storage spaces.
While most modular kitchens come with a uniform finished look with well-planned kitchen cabinets, there is no reason why you cannot mix things up to avoid a blocky, boring appearance, and give a unique signature look to your kitchen.For example, do you have pretty kitchen crockery that you’d like to show off? While base cabinets can still be covered, choose glass paned doors for the upper cabinets, so you can set up a nice display of your china. If your cabinets are a light neutral color, paint the insides of the glass-paned ones a bright contrast, to make it all the more eye-catching.
Alternatively, have you thought of a mixed approach, with a section of open shelves? This can work really well for small kitchens, creating a roomy look. If shelves are not an option, consider mirrors for cabinet doors, to create an illusion of space. The doors of the cabinets can be awkward to open and close in small kitchens, as they need quite some clearance room. Smart sliding doors solve that problem perfectly well.
To squeeze out the last drop of storage from really small kitchens, don’t be afraid to extend the cabinets all the way up to the ceiling. A step-stool, or a slim rolling ladder (why not?!) will solve the problem of reach, and look cool as well.
For a lot of people living in hot humid areas, the idea of completely closed kitchen cabinets doesn’t appeal, because closed doors may encourage odors. Why not create a farmhouse look with wire-fences or similar small metal mesh for the cabinet doors? This will help keep things airy and dry, and if flies are a problem, choose really fine mesh. Fabric curtains fitted inside the cabinet door frames will achieve the same thing, and can also add a splash of colour to your kitchen.
If cleaning is your thing, remember that most kitchen cabinets only require a sponge, some warm water and dish soap. Wooden cabinets will look great with an occasional wipe using white vinegar. For a really squeaky clean kitchen, elevate the base cabinets slightly, allowing you to clean underneath them.
A modular kitchen doesn’t have to be one-size-fits-all. With a little imagination, you can customise your kitchen cabinets to suit your needs, space and taste.