| Realty - Home is where the heart is - your very own | | | | what kind of payment you can meet. This depends |
| castle, the great American dream. And in truth it is | | | | on your monthly wage, but also on the amount of |
| just great to have a place to call your own where | | | | your current rental payment. If the mortgage is going |
| you feel content, where friends drop in and you all | | | | to be less than the rent then buying is bound to |
| have a great time. Having a patch of this great land | | | | make economic sense - you'll be saving money each |
| to call your own really can bring a sense of security | | | | month and you will be building up your |
| to you and yours.Achieving the realty dream is not | | | | brick-and-mortar investment.Equity, in everyday |
| instant for most people, and can require plenty of | | | | terminology, is the "portion of assets which are |
| belt-tightening and sacrifice. It can take ages to | | | | owned outright rather than through borrowing". For |
| gather together the thousands you need for a | | | | instance, if you purchase a home (an "asset") for |
| deposit. Yet the longer anyone procrastinates over | | | | $150,000 with $10,000 down, your home's mortgage |
| buying and continues renting, the more time they will | | | | loan (a "liability") will be $140,000. Then, (over and |
| be flushing their money down the toilet. Property is | | | | above your interest charges) upon making $1,000 |
| the kind of investment that you don't see any fruit | | | | mortgage repayments per month for a year, your |
| from until you sell your house, but it's an investment | | | | mortgage loan will be down $12,000, reducing the |
| none the less. If you don't buy then you are just | | | | "liability" to $128,000. At this one-year marker, your |
| earning money to fill the pockets of greedy | | | | home equity becomes $22,000, which is derived from |
| landlords.A good way to clarify the benefits of | | | | taking $150,000 minus $128.000 and assuming no |
| owning a home is for you talk to someone such as a | | | | change in property value. You can see why it's |
| Realtor, a licensed real estate professional, about | | | | important to consider how long you plan to live in a |
| your choices. A Realtor will help you plan to build the | | | | home when you purchase it so that your home |
| funds to make home ownership a reality. Sometimes, | | | | equity truly becomes an investment over time.It's |
| a Realtor will advise that you get your ducks in order | | | | not all roses of course, and to read about some |
| first, meaning work on paying off other debts that | | | | things to watch out for, research one or two of the |
| count against your chances of qualifying for a home | | | | large realtors. Try Coldwell Banker and Century 21 to |
| loan. Some loans require less down payment and | | | | get going. To find your nearest office, or easily |
| some loans carry steeper conditions depending on | | | | access other information on real estate agents and |
| your credit score. You can find out your credit rating | | | | realty investing, just visit 2006 Sean Carrott. All rights |
| online through the three main credit bureaus such as | | | | reserved. |
| Experian, Equifax and TransUnion.Should you find you | | | | Sean Carrott runs Realty WZ a popular resource for |
| have a happy credit score then start considering | | | | realty related information. |