Category

Finance

Finance

8 Pro Tips for Starting a Home Business with No Money

Starting a business with no money can be a daunting task. Many great business ideas remain unacted upon due to lack of money. For most people who wish to start a home business with no money, accessing capital is the greatest challenge. Yet, money must not be a caveat to starting a business. Home business, for instance, accounts for 50% of all companies according to the Small Business and Entrepreneurship Council.

A home business effectively cuts operational costs and is a good place to lay a formidable foundation for future expansion. If you have clarity in your vision and are confident the market is ripe for your idea, you can start a home business and join millions of others who have succeeded this way.

Check these 8 pro tips for starting a home business with no money:

Continue reading

Finance

5 Points to Consider When Buying a Home

Buying a home in this business environment can be a tough thing to do. Besides having to worry about market conditions, there are some questions you need to ask of yourself. Where should I buy a home, are homes for sale where I would like to live? How much home can I afford, and can I get approved for a loan? These considerations and others are part of a successful home buying process.

1. Is Buying a Home Right for Me?

First, you need to decide if buying a home is the right move for you. Some factors that help answer the question include how much income you have and employment status. Your potential lender is not only concerned about your quantity of income but is also about your employment history. If your income is sporadic, get your career in order before you think of buying a home.

2. Can I Afford a Home?

Second, determine if you can even afford to buy a home, and how much home you can afford. One suitable place to start this analysis is by figuring your DTI (Debt to Income) ratio. Consider also that home ownership entails many hidden costs that are not present when renting. Two of these include property taxes and homeowners insurance, which can be bundled as part of the loan, but they still have to be paid.

3. Get Preapproved.

Third, get a preapproval letter for your mortgage. When you apply for the loan (mortgage), the lender should provide a preapproval letter stating how much loan you can handle. This is not a subjective judgment based on whether the loan officer likes you are not. Preapproval usually includes questions about your assets, income, and the home you are thinking of buying. The preapproval process also includes a credit check, so you will want to have your credit in order. Realize that there are several types of loans available including conventional loans, FHA loans, VA loans, and USDA loans. You may consider consulting with Calgary Homes to learn more.

4. Find a Real Estate Agent That Works For You

Fourth, find a real estate agent that works for you and that “clicks” with you. Keep in mind that the agent you choose will represent you during this transaction. You want an agent who will consider your buying criteria, show you multiple homes for sale, and help negotiate with the seller. The agent’s job also includes helping you understand what is going on during the process and advise you on your next move.

5. Determine Your Priorities

Fifth, make a list of your priorities for your new home and share this with your realtor. These priorities must include your budget information and options for the home. Other options may include house layout, number of bedrooms, local school ratings, and whether surrounding property values are increasing or decreasing. You should rank these priorities and share them with your agent.

Finance

8 Pros and Cons of Making a Real Estate Backup Offer

In real estate, a backup offer is often made on homes already under negotiation. One can make a backup offer in case someone else beats them to the home they’ve been eyeing. Once the real estate backup offers are received, the seller picks the one that’s best.

However, since offers sometimes fail to morph into an actual sale, it’s good practice to have a backup offer on the wings. Among reasons a sale may fall through include financing issues, problems with home inspections, family disagreements, employment, misunderstandings, and school preferences.Continue reading

Finance

10 Richest Countries in the World (Other Than USA and China)

In general, the ranking of how rich a country is typically based on the per capita gross domestic product. Indeed, the higher the GDP, the wealthier the country. In most cases, small countries with a high GDP rank at the top of the list.

Each year the International Monetary Fund, or IMF, releases the GDP per capita based on the purchasing power parity of all countries. Some of the wealthiest countries, such as Qatar, Saudi Arabia, and Brunei, have an abundance of resources and a relatively small population. Others, like Switzerland and Luxembourg, are also in the top ten mainly because of their solid banking and investment strategies that have helped propelled growth.Continue reading

Finance

8 Conventional Mortgage Requirements for New Homebuyers

Yes, we all are aware the old adage: a home is the biggest purchasing decision you will ever make.

It is true, though, especially considering how the average home in Canada’s biggest cities are nearing $1 million. Interested in buying property? Well, you will need to qualify first for a mortgage – unless you invested in bitcoin a couple of years ago and yielded 20,000 percent return!Continue reading

Finance

7 Ways to Shop for the Best Mortgage

When it comes to finding the best mortgage rate, many are left confused. This is especially true with first-time buyers who may not know how to go about qualifying for a mortgage. That’s why, we’ve outlined the steps you should take below to find the best mortgage rates. That way, you can ensure a smooth home buying process.

Continue reading

Close