Tag Archives: home renovations

You can afford to buy a home: Here’s how

Between down payments and closing costs, many would-be homeowners become frustrated with the process and put off their dreams of buying a home. But homeownership can be more affordable than you think. If you’re looking for ways to save on your home purchase, you may want to:

Explore other property options

When it comes to buying a home, a traditional listing may not always be your best bet if you’re looking to save some dough. Ask your real estate about potential foreclosures and short sales in your area, or look online if you’re tackling the home buying process on your own. These bank-owned homes cost significantly less than comparable properties, but just be prepared, because it can be a lengthy and complex process. But if you’re up for the challenge and you’re flexible with your closing date, purchasing a foreclosure or short sale can save you a lot of money on your home purchase.

 

See the potential in a fixer-upper

The neighborhood’s ugliest house is for sale and you laugh to yourself, wondering who would actually want to live in a place that looks like it’s ready for Halloween year-round. But don’t just see it for what it is: see past that, and picture what you can turn it into. Fixer-upper homes are usually priced accordingly, which can mean getting into a home that you may not have been able to afford otherwise. Sure, it may need some (or a lot) of TLC, but if you’ll still make out ahead in the end, it can be a project worth taking on. And as an added bonus, you can customize the home to your liking.

 

Lower your housing budget

This may seem like an obvious one, but it’s an important one worth pointing out. A lot of people will pull up a mortgage calculator and base their home purchase budget on what kind of monthly payment is affordable. Then they realize most mortgages require at least 10 percent down, and then there’s closing costs on top of that. Frustrated, some will just give up on buying a home completely. But if you have your heart set on a $200,000 home, yet only can afford a $10,000 down payment, why not explore what $100,000 can get you? Although you won’t want to make too many sacrifices—after all, a home purchase is a big one and you want to be happy in the end—if you can lower your budget and find something that meets your needs just fine, homeownership can become a realistic possibility much sooner than you imagined.

 

Compare property taxes

A good chunk of your monthly mortgage payment will usually go towards property taxes. Depending on where you’re looking, this can make or break your decision to buy a home, and can mean the difference of affording the type of home you want. By simply looking into neighborhoods that are just a few minutes away, it could mean different counties and possibly lower property taxes.

 

Avoid HOAs

Another way to save money on those housing expenses is to avoid buying property that’s part of a Homeowners Association, or HOA. Being part of an HOA can certainly offer its perks; a lot of stuff could be taken care of for you, such as landscaping, but you’ll pay extra for this convenience. Depending on what the HOA will include, this might just be a couple hundred extra each year, or it can be a few hundred every month. If you’re looking to save as much as possible, scratch HOA homes offer your list completely.

 

Do you want to buy a home, but need the money for your down payment and closing costs? J.G. Wentworth may be able to help if you’re receiving structured settlement payments. Contact J.G. Wentworth today to learn more about selling some or all of your future payments for a lump sum of cash.

J.G. Wentworth claims no credit for any images posted on this site unless otherwise noted. Images on this blog are copyright to its respective owners. If there is an image appearing on this blog that belongs to you and do not wish for it appear on this site, please e-mail information@jgwentworth.com with a link to said image and it will be promptly removed.

How not to renovate your home

 

1. Trying to do things yourself that you know you shouldn’t be doing.


2. Not getting the necessary permits (even for the small and easy projects).


3. Spending a lot of money on renovations that won’t add any value to your home (or may even take away from your property value).


4. Underestimating just how much a certain renovation will cost….and then running out of money and ending up with an unfinished project, or going into debt in order to finish.

 

5. Sacrificing (or completely forgoing) safety in order to cut down on costs.


6. Using really cheap materials.


7. Also going with a really cheap contractor.


8. Ending up with pieces not fitting properly due to inaccurate (or complete lack of) measurements.


9. Not thinking your renovation plans through….


10. ….and making the costly mistake of changing your mind when a lot of work has already been done.


11. Or just being stuck with something you really don’t like.

Renovate your home the right way and contact J.G. Wentworth today to learn more about getting the cash you need for your home renovation project. From our personal loan marketplace to selling your structured settlement payments, contact us today to learn more about the different solutions we offer.

 

J.G. Wentworth claims no credit for any images posted on this site unless otherwise noted. Images on this blog are copyright to its respective owners. If there is an image appearing on this blog that belongs to you and do not wish for it appear on this site, please e-mail information@jgwentworth.com with a link to said image and it will be promptly removed.

11 signs it’s time to renovate your home

You love the quirkiness of your old home, but has it gone from charming to downright creepy? Sometimes, it can be difficult to know when it’s time to make some big changes. The following are some signs that you might want to invest in some home renovations:

1. Your house has become a stop on the local “Haunted Sights” tour.

2. The neighborhood kids are terrified of it.

3. So are the adults.

 

4. You’ve gotten offers on your home….

 

5. From neighbors who only want to buy it to tear it down.

 

6. Your electric bills are insanely high because your appliances are literally 100 years old.

 

7. Out-of-town guests who haven’t been to your house yet last about five seconds before hightailing it to a nearby hotel.

8. To say it looks outdated would be an understatement, and entering your home is honestly like taking a step back in time.

9. Or a retirement home.

10. Literally everything is falling apart.

11. You’re ready for major change and you recognize some or all of these problems, but you don’t plan on moving anytime soon.

 

Renovating a home can be expensive, especially if you’ve got some major upgrades to make. If you need extra cash to begin tackling those home renovation projects, J.G. Wentworth can help. From personal loans to settlement funding, you can choose a solution that works best for you. Contact J.G. Wentworth today for more information about receiving a lump sum of cash.

If your old and ugly house could send you text messages

 

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Do you need cash to fix up a home or to buy a new home? J.G. Wentworth can help! Contact us today to learn more about the different products we offer, including structured settlement payment purchasing, mortgage loans, and a personal loan marketplace. Let us help put you in a home that you’re happy in!

Mortgage loans are offered through our affiliated lender
J.G.Wentworth Home Lending, LLC. NMLSID # 2925
3350 Commission Court, Woodbridge, VA 22192
1-888-349-3773