Spring has sprung and summer is finally approaching. The kids will soon be out of school and vacation destinations will come to life. Inevitably, conversations while on vacation seem to end up discussing ‘buying a place’ in the area. It can be a great idea for sure. Like many things, the chances of a vacation home being what you want depend largely on how you approach it. Ask yourself these 5 questions while you watch the sun set on vacation to see if your off-the-cuff idea has a chance. Read more here.
It all seems so simple on the surface. You buy property to rent, build up equity and even ownership based on the rent paid and presto, you own an income generating property. But the reality is just a little more complicated. It can still be done, no doubt, but you need to be smart and understand that you are entering a complicated and long-term relationship. The potential to get it wrong is considerable, so knowing as much as possible going in will help you avoid some real problems. Read more here.
In the 1960s, there were about 500 homeowners associations. Today that number is over 300,000. Chances are you or someone you know live in a community with an HOA. On the good side, HOA rules prevent neighbors from parking their ‘projects’ on the front lawn, and on the other side, they may limit your freedom of choice when it comes to your home. In all cases though, the rules and bylaws are clearly written out, and learning to engage with the HOA board is the first step to a great relationship. Read more about 10 tips to make it happen, here.