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How to Calculate Payments for a First-Time Home Buyer

Since a home is likely the single largest and most important purchase the first-time home buyer will make, he should seek an affordable monthly payment. Begin with evaluating monthly income and expenses to determine how much he can comfortably afford. He must also consider additional expenses associated with homeownership, such as homeowner’s insurance, property taxes and, in some cases, private mortgage insurance. read more

Should I Rent My House If I Can’t Sell It?

A recent study has concluded that 39% of buyers prefer to rent out their last residence rather than sell it when purchasing their next home.

The study cites that many homeowners were able to refinance and “locked in a very low mortgage rate in recent years. That low rate, combined with a strong rental market, means they can charge more in rent than they pay in mortgage each month, so they are going for it.”

This logic makes sense in some cases. We at KCM believe strongly that residential real estate is a great investment right now. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for. Are you ready to be a landlord?

Before renting your home, you should answer the following questions to make sure this is the right course of action for you and your family.

10 Questions to Ask BEFORE Renting Your Home read more

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