Some Items to Avoid Buying Cheap

by Justin Weinger on May 23, 2016

Buying the most expensive brand is typically not necessary, but when it comes to some items, price vs. quality comes into play.  If quality is less, you may find yourself replacing more often, or using more to get the job done.  Instead you should be finding discounts on high quality items, with in-store sales or clipping coupons.

Toilet Paper

When you purchase cheap toilet paper it is typically single ply, so in order to use a needed amount, you will need to unroll more, fold it over, and even seeming like you used the entire roll compared to a normal two-ply roll.  The cheap single ply probably is not the most comfortable to use, and if you buy cheap two-ply paper, you can expect it to feel like sandpaper, and will probably be a little red after.  Spend a little extra money and buy the good stuff, you will thank yourself.

Paper Towel

For simple wiping down counters, cheap paper towels will soak up fast and require you to pull off more sheets.  For spills, forget about it, you will have soaked and torn pieces of cheap paper towel everywhere.  Spend the extra money and buy a name brand or even a big box brand and avoid brands that contain the word “value”.

Bedding

You sleep in your bed every single day, upwards of eight hours a day, so why would you want to compromise sleeping, and your back, on a cheap mattress.  If you find yourself being tired with a stiff neck and back to go along with, it might be time to replace your cheap mattress, you will not regret it.  Same goes with sheets.  They do not have to be the highest Egyptian cotton, but something at least in the hundreds in thread count will make for a much more comfortable and cooler temperature sleep.

Investments

Investments probably sounds like an odd item to include in this list, but it’s probably the most important of them all. Too often you find people investing in penny stocks that go bust and they lose all of their money! Just like with everything else, when it comes to investments, you get what you pay for.

Paint

I finally realized I needed to stop using cheap paint when I tried to paint my ceiling recently; using three coats and it still looked bad.  I purchased a premium brand that was only slightly higher in price per gallon and it made the world of difference, finishing the rest of my house in that brand.  Although I still put on two coats just to be safe, I could have even got away with one coat, but the coverage in just spending a little more money will thank your arms, patience, and wallet.

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Challenge a Will: Save Your Inherited Asset

by Justin Weinger on February 24, 2016

Inheritance is a big part and also an identifier of what’s your standing in the family. As long as you are a legal descendant of the testator, or writer of the will, bound by blood or by law, you can claim what is rightfully yours. Due to the fraudulent act or influence of some greedy individual around you – who sees this as opportunity to take away an asset, or therefore challenging the testament, you need to make sure that you know how to handle such scenarios. Remember that there’s nothing worse than losing someone important in your life and at the same time losing the chance to experience what is legally entitled to you.

An inheritance is an investment provided by a loved one, but there are instances when a will and testament are improperly written or falsely drafted. If you find yourself at the losing end and you think you deserve the property more than anyone else then be prepared to be in court. To challenge a will is difficult, but the fact that owning a house gives loads of benefits, which will definitely help you in the future, you need to work hard to protect this asset. Some of the benefits of owning a house are:

  • Appreciation of Value
  • Shield Against Inflation
  • Property Tax Deductions
  • Capital Gain Exclusion

Here are the steps you need to do to ensure a house that is supposed to be your inheritance will be transferred legally:

THE AFTER ACTION

If you have read what is in the will, seek some legal adviser to help you in interpreting it; always trust your guts when identifying if there are any suspicious elements in the will. For the after action, understand first the content and investigate what caused the problem. You should be able to confidently point out your grounds for challenging the will. Those who succeed in challenging a will do so with the help of a great lawyer. Seek help from a trusted lawyer who fully understand your situation and can further explain what actions shall be done.

SPECIFIC LAWS TO CHALLENGE A WILL

There are two kinds of law that can help you claim your inheritance if you ever feel like there was a bias when the will was made. The first encompasses the promises of the deceased person to an individual even when they are not literally related by blood. Under this law, a person given such right need not to be personally written by the will, as long as he can prove that he was assigned to a specific property in front of the court, then he will be free to claim his right on said property.

The next one deals with the protection of family members and their inheritance of the deceased person’s assets. Subject to this provision is filing an appeal to the court, claiming you haven’t received any portion of the inheritance.

DURATION ACCORDING TO COMPLAINS

Generally, there is a given duration for you to file an appeal to the court in accordance with the law. As stated by the law, there are 3 types of complaints: Inheritance act claim for maintenance, beneficiary making a claim against an estate, and fraud or forgery.

In the first type you are given 6 months after the grant of probation, while the claim against an estate has a 12-year window after the death of the will maker. And lastly, there is no time limitation given when it comes to fraud.

Do not forget to comply with these guidelines in order to increase the chance of the court ruling in your favour. A house, after all is a good investment for you and your family’s future.

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Find out about ways to save on fixed home loans

by Justin Weinger on November 21, 2015

Home, generally, accounts for the most expensive purchase for most of the borrowers out there. It remains one of the biggest investments made by us in our lifetime—at least in case of most of the borrowers. In order to ensure long term financial health, it is very important for you to invest proper time in finding the best mortgage offers so that you can pay off the loan.. One of your major responsibilities as a borrower would be to determine whether you should settle for fixed rates or variable rates.

Fixed rates or adjustable rates?

At first, it is important to understand the basics of these major types of loans before determining which one you should choose. The fixed rate does not change in the course of the loan term. Irrespective of whether you are securing the mortgage for 5 or for 30 years, the interest rate attached to the loan does not change throughout the loan tenure. On the other hand, the variable or adjustable rates fluctuate in accordance with the market rates. If you settle for variable loans, you will have to pay rates that have altered in correspondence to the hike or reduction in the market rates. If the market rate increases you will have to pay increased rate and if it decreases the rate of interest on your loan will also plummet. Both the options are equally popular in the market- since the number of borrowers settling for fixed rates (as they are apprehensive of the economic volatility) is no less than the ones opting for variable home loans since they are all game for making the most of the (possible) future reduction in rates. Discussed below are a few ways in which you can save on fixed home loans.

Consider shortening the loan tenure

If you reduce your 15-year mortgage to a 10-year one then you will end up saving thousands of dollars. Reducing loan tenure implies that you are paying of loans faster and are getting the rates on your loan reduced as well.

Pay off lump sum

If you have been fortunate enough to receive a lump sum from any source or have been able to save up a substantial amount of money then you can use it to pay off the outstanding balance. By doing this you will also get to reduce the overall interest costs on your loans.

Make sure you are considering the loan options offered by several lenders at the same time.

Yes, it is very important to shop around considerably for the rates of interest charged by different companies at the same time. There might as well be subtle differences between the rates charged by different home loan companies. Kindly ensure that you are not zeroing in on a name randomly but only after comparing the rates of interest thoroughly.

The global economy is faced with unprecedented challenges today. Economic volatility is the order of the day. Fixed home loans have rendered a sense of security to borrowers in such a scenario. You can only expect to make the most of these loans by learning how to save on these loans.

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How to Budget for a House That You’ll Rent Out

by Justin Weinger on September 2, 2015

Investing in a home that you can rent out, whether it’s a single-family or a multi-family property, is a great way to make some extra money each month. You can use this to pay off the mortgage on your primary residence or to pay off other bills that you incur, so an investment property is a great way to give yourself an added level of assurance that you’ll always have the money you need to take care of your family.

But how can you budget for a house that you’re planning on renting out? Continue reading for a few tips.

Things to Consider Before Shopping

Before you even begin searching for your investment property, consider the following:

  • How much are you willing to pay, based upon how much you can actually afford?
  • What type of rental property are you in search of?
  • Do you have any particular neighborhoods or cities in mind?
  • What’s the average rental rate for properties in the area(s) that you’re interested in investing in? In other words, how much can you expect to make?
  • What’s the return that you’re anticipating from your investment?

Set Up Financing Options

A common mistake that many homebuyers make is that they start looking for properties before they’ve actually arranged their financing options. This can lead to issues in the long run when you realize, for example, that you can’t afford as much house as you originally anticipated, or when a house you want goes to another buyer who’s already been pre-approved for a loan.

So before you head out and shop for an investment property, speak with a bank or lender to find out how much they’re willing to give you. Setting up your financing options ahead of time will make you a more prepared buyer, and you’ll be a step ahead of other buyers.

Start Saving and Set Up Your Budget

Once you answer the above questions, you should have a clearer idea of just how much house you can afford, and you should also have a better idea of how much you can generate in income from the rent that you’ll charge.

When you have your budget in place, you can begin saving on a consistent basis, even if it’s just a small amount of money that you put aside from each of your paychecks. This will help you put together a down payment for your rental property.

Consider Repair Costs

Investing in apartments isn’t always a smooth endeavor, especially when you’re dealing with properties that have been previously rented out and may be in desperate need of repair. So in addition to budgeting for the actual home price, you should also have enough money set aside to make repairs to encourage renters to settle in and pay your rental rate.

Now that you know what it takes to budget for a house that you’ll rent out, you can find the property that suits your needs and increase your monthly income easily.

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