Down Payment Issues: Why Most Homebuyers Turn to Family for Help

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It is undeniable that the percentage of home buyers relying on their family is gradually increasing. And admit it! There are some homebuyers here who still seek help from their parents or any family members. Well, asking for help is not a bad thing at all, especially when you are a part of their family. However, if you are starting your own family and wants to leave your parent's home, asking some help when it comes to your down payments might not be a good image for you – that whether you agree with me or not.

Generally, what most homebuyers, especially first-timers would do when they decide to invest on their own home is that they will avail a home loan – usually parental loans. Financial experts say that one of the best gifts one can have is the help of their parents, with no expectation of repayment. Generally, if parents insist on investing in a home property as a gift for you and your own family, you have to make sure that there will be no strings attached to it. You should have the right documentation, including a letter that clearly states that the gift-giver doesn't expect repayment.

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However, if that's not the case, then parental loans fall under the category of unsecured debt. In fact, a loan from a parent could raise a borrower's debt-to-income ratio sufficiently to result in disqualification for a mortgage. That means, no asset is acting as collateral which can pose a lending risk. Moreover, a family loan is a burden that could affect a borrower's ability to make monthly payments. And most companies don't allow unsecured debt such as credit card advances. Companies want to be certain that every transaction that you have with them has an assurance that you can pay the down payment and its monthly dues.

Basically, if you don't have enough income and/or savings to sustain your obligations, then there is also no guarantee that you can avail home loans. Sometimes, if a loan would not be applicable on your end, then cash is needed. And for first-time homebuyers, this is one of the problems they usually faced. Yes, the process of investing is not that simple. There are certain guidelines that you need to follow in order for you to be qualified in investing your own home.

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If you want to impress the parents of your wife or live your own life, you have to make sure that you are capable of living a happy and normal life. Yes, cliché as it may seem, but having and securing your own savings is a must for you to do. When banks know that you have enough savings, and your job can produce a sustainable income, there is a higher possibilities that you can be qualified to invest and have your home loan.

Sometimes, savings is definitely hard on our end since there are a lot of things that we need to think of, such as our daily expenses. However, knowing how to budget your money in order for you to have your own savings is one of the musts for you to do. Yes, there are just times that we want to seek help from our parents, but it doesn't mean that we cling and depend to them in every real estate transaction that we need to make in order for us to achieve what we really wanted.

Moreover, if you are just discipline yourself when it comes to money matters, then saving for your future is not as hard as you think it is. In fact, it is one of the most important things for you to do in life – that is to save and own your home.

To Have Pools or Not: Pros and Cons of Backyard Pools

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Pools are appealing to the eye! For some, it's already a dream come true to have one in their backyard. When you have a pool at home, you'd definitely feel the fun and excitement that comes with it. But before you can have your own pool, you have to remember that it takes a huge investment – not just with money, but also your time and effort as well.

When you plan of having your own pool, most real estate brokers would advise that investing in Ayala land lot Cebu or any real estate lot is a good idea in order for you to own your pool. And as a homeowner, it is a critical thing for you to understand that installing a pool in your backyard is a permanent condition to your home. That is why, you should be certain when it comes to the decision making on whether or not to install a pool.

Of course, having a pool on your backyard doesn't just have an advantage, it also have some disadvantage that you might want to avoid. However, if you are a person who is willing to take some risk on having one, then you might as well know the pros and cons on installing and having a pool on your backyard. Of course, that is for you to avoid regrets later on.

Pros of backyard pools

Aside from the fun and excitement of plunging yourself in the clear water, there are actually a lot of advantages when you have one:

Perfect for parties

Talking about parties, it's definitely more fun when you got to include swimming pool. If you want to have a formal party on your home, pools are there to add beauty to the venue. It attracts people to enjoy more even if it's a formal event. Of course, pool parties would definitely not be called such when there is no pool at all. This is the time where you got to be wet while enjoying the party. And of course, kids are not just the only one who got to enjoy it, adults, too!

Great for exercise

Swimming is a kind of exercise, and it is such an advantage when you got your own pool. You don't need to go far just to swim. Whenever you feel like swimming, you got to swim anytime for as long as you want. With that, you are not just having fun swimming, but you are also exercising as well.

Be the cool house

Believe me, when you have your own pool, your friends and relatives would definitely love to visit your house again and again. Of course, what else? – that is to enjoy the pool. You definitely can't say "NO" to that since it is going to be fun too, that unless you are going to be out of town.

Home investment

When the time you decide to sell or rent out your home, the value will be much higher than an ordinary house. Thanks for having the pool, you can definitely raise the rent and/or price of your home higher without hesitating since you know that the house is worth the price.

Cons of backyard pools

 
Installation cost

Before you can decide or whether or not you are going to have a pool on your backyard, you have to make sure that you have enough budget for installing it. Of course, it doesn't just end up with the materials used for the installation, but you also have to have the budget for the fee on the people who will install it. Moreover, you should also know that you should have enough space on your backyard for you to have your own pool.

Daily maintenance

You definitely don't want to swim in a pool full of dirt, right? However, it is not enough that the water in the pool is just clean. You have to check the pool's pH balance daily to check on the acid and alkaline levels. Plus, you also have to consider the maintenance especially when your pool is made of concrete, which is more prone to cloudy water and algae growth. Well, you better check your schedules for you to have the time in cleaning your pool.

Pool accidents

Accidents are inevitable, especially when you have a pool at home. When you have your kids, you have to secure the area for the kids not to immediately go near the pool. And when it comes to pool parties, you have to make sure to announce that parents with kids should be careful for them not to be slipped and drowned. You definitely don't want to see someone's drowning. Definitely not!

Top 4 Effective Techniques in Saving while Paying your Rent

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How easy is it for us to save? It is definitely not an easy task for us to do, agree? If there is anything that is a more frustrating thing to experience, it is when we don't have enough budget to save. Considering the fact that we have an obligation to pay our monthly dues, saving is going to be a bit challenging on our part. And that is one of the reasons why most homeowners are financially troubled since they don't have savings at all.

Technically speaking, you can still have your own savings. For as long as you are just strict enough on budgeting your money, then savings would definitely not a problem after all. Some of you here might wonder and ask; how come you can still save money when you got to have a lot of payments to make? Well, if you are that curious, here are the top four effective techniques you can do to save while renting.

Negotiate your rent

Basically, before you can move to your new home, it is a must for you to know how much is your monthly rent. If you think it is expensive enough for you to handle the payments, then you can politely ask your landlord that if possible, you can negotiate the cost of your rent since you still can't afford it. Well, it is a good news if your landlord will approve your request. However, there are landlords that would not consider it – this is the time for you to move out and find a new place to stay. It is better that way than enduring a costly rent.

Moreover, before deciding on the place to stay, you have to make sure that you can afford the rent in order for you to avoid financial problems later on. Don't force yourself to avail a particular thing when in fact, you are not certain if you can have it until the end.

Alternative source of Income

There are just times that the income that you can get with your current job is still not enough, especially when you have a lot of obligations to think of – your monthly rent, water and electric bills, and so on. With these, there might be a need to for you to find a part-time job. Well, it doesn't have to be that hard, for as long as you are earning your extra income, then it might be enough to suffice your everyday needs and savings.

Have a garage sale

Having a garage sale is also one way you can have your extra income. If you think that that particular thing that you have is already not useful for you, then why not include it in your items in a garage sale? Of course, you also have to make sure that the things that you want to sell can still be of use for other people. With the things you have included, it might be a lifesaver for others. Of course, you are not just making an extra income, you are also helping people who want to buy things at an affordable price.

Monitor your spending

If you are a kind of person who usually spend on the unnecessary things, then this is the time for you to stop doing it now. Yes, if not now, when? If you continue to spend your money on the things that are not that useful to you, then you might find savings a challenging thing to do. Unless you have a lot of money to spend, then you better keep your money and save it for emergency purposes.

When you know how to discipline yourself when it comes to money matters, you will eventually realize that saving your money is not as hard and bad thing as your think it is. And if you have enough savings, then renting is definitely not a problem.

Brilliant Idea: Bringing Coffee Shop Inspired Designs to the Comforts of Your Home

Transforming your home into a coffee shop inspired designs? Why not? Yes! It's possible! Coffee lovers going to love this!

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Aside from the obvious thing as to why we go to coffee shops, it is also a place where we can unwind and feel relax. For some coffee lovers, they considered coffee shops as their "second home". They find peace and contentment whenever they find an opportunity to go to cafés.  Of course, the smell of your coffee plus the music playing can also be addictive. Don't you know that you can also be productive with that kind of ambiance? Well, we just can't deny the fact that there is something special when it comes to it. Agree?

Some of us here go to coffee shops every day just to get a cup of their favorite coffee mix. While others stay for a couple of minutes just to be inspired to do better on their work. If you are that enthusiastic enough to go to cafés every single day, why don't you try bringing coffee shop inspired designs to the comforts of your home? With that, it is one of the most convenient ways to enjoy your morning coffee. Of course, choosing the right design for you home also matters.

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The Kitchen

One way or another, our kitchen is the most attractive part of the house. Why? Well perhaps, it is where we usually make our favorite coffee mix – be it brewed or instant. And it makes a good and satisfying ambiance when we add some coffee inspired designs in our kitchen. Designing your walls with bricks, for example, can add the vintage aura of your kitchen. Of course, it is not just about the beauty it can offer, but also, bricks can help neutralize the temperature of your kitchen. It makes your kitchen cooler in summer and warmer in cold days. And it's a low maintenance; you definitely don't need to fix a peeling wall. There's a caveat, if you don't know how to install a brick, ask some assistance from the professionals to achieve the desired outcome.

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Aside from the walls, you can also have a vintage dining chairs and tables. The older it is, the better – just make sure that it can still be of use. If it's possible, the design of your dining chairs and tables are the same. If not, then a variety would do. You don't have to be strict with the design actually; you can play with it, for as long as it still fits with the "café ambiance" theme.

And speaking of the ‘ambiance', a regular coffee cup/mug is a no-no. As I've said, you have to play with the designs, and that includes with the kitchen wares. There are actually a lot of coffee mug that fits with your theme that you can choose from, just choose and pick the right one for your use. Well, it doesn't have to be antique though, for as long as it looks vintage and all, then it's your call.

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Don't ever forget the kitchen counter, add some features in it. You can definitely display your coffee grinder, glass coffee mugs/cups, coffee beans, and/or any other things that you want to include. Basically, the things that can be found on your counter doesn't have to be expensive, you can actually buy and have it in an affordable price. So, fret not!

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Other Rooms

Generally, most coffee lovers love to decorate the "café ambiance" specifically on their kitchen. However for some, they also want to have the design on their other rooms. Of course, you can also pull that off. Well, you can always start with the decals. You can have picture quotes about coffee drink and how it can boost our energy, and all. Putting it on your wall would be a better idea for you to make. Also, try adding some flavors on your room. You can add a real bicycle and hang it on your wall, or just merely putting it on the corner.

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Your relaxing moment will never be complete when you don't have a space for entertainment. Of course, you have to make sure that you have a space for coffee table books or a TV screen. With that kind of ambiance, you will be more inspired to get ready for work or school. And one of the must-haves you definitely should consider is the color scheme of your home. If you wanted it to look like a real coffee shop, then you better choose a color that matches with the theme that you like.

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Generally, for some coffee lovers, if not all, having this kind of home design is something that they want to achieve and have. Of course, who would not want to be inspired every day? How about you? Are you a coffee lover? Want to have these designs on your home?