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Is now the right time for you to buy a home? You have many options to consider and choices to make. Buying a home is a big responsibility, financially and emotionally, but, most people want to own a home. Homeownership often is referred to as "the American dream." Why is it so special? Among the reasons: Real estate often is an excellent investment, perhaps the number one source of wealth-building for families.
Owning a home has many benefits. When you make a mortgage payment, you are building equity - and that's an investment. Owning a home also qualifies you for tax benefits that may assist you in dealing with your new financial responsibilities - such as homeowners' insurance, real estate taxes, and upkeep - which can be substantial. But given the freedom, stability, and security of owning your own home, they are definitely worth it! Owning your own home also can be a great source of pride and stability.
But homeownership may not be for everyone. It's a big financial commitment - starting with the initial shock of your purchase (including a "down payment" and fees paid to a real estate agent, the lender and others) followed by years of monthly mortgage payments, real estate taxes, property insurance and maintenance costs. When you decide to purchase a home, you accept responsibility for paying for these expenses. They are additional costs to your monthly mortgage payment and should be included in your budget estimates: Property Taxes and Special Assessments, Home/Hazard Insurance, Utilities, Maintenance, Home Owner Association (HOA) Fee if applicable.
One of the advantages of renting is being generally free of most maintenance responsibilities and the flexibility of moving almost as soon as you decide. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for your housing needs. There are many considerations in choosing between renting and buying:
There are tax advantages to homeownership in both the short and long terms. The mortgage interest and real estate taxes are tax deductible, which allows you to subtract part of your housing-related expenses from your taxable income, which could reduce your tax bill. In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner spends on a mortgage. With the tax benefit for homeowners, the savings can be significant.
. | Advantages | Considerations |
Buy |
Property builds equity | Responsible for maintenance |
Sense of community, stability, and security | Responsible for property taxes | |
Free to change decor and landscaping | Possibility of foreclosure and loss of equity | |
Not dependent on landlord to maintain property
|
Less mobility then renting | |
Rent |
Little or no responsibility for maintenance | No tax benefits |
Easier to move | No equity is built up | |
. | No control over rent increases | |
. | Possibility of eviction |
The chart below shows a cost comparison for a renter and a homeowner over a seven year period. The renter starts out paying $800 per month with annual increases of 5%.
The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000. After 6 years, the homeowner's payment is lower than the renter's monthly payment. With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years.
Yrs |
Rent |
Mortgage Payment |
Monthly Diff. |
After Tax Savings |
Yearly Diff. |
After Tax Savings |
1 | 800 | 1000 | -200 | -50 | -2400 | -600 |
2 | 840 | 1000 | -160 | -10 | -1920 | -120 |
3 | 882 | 1000 | -118 | +32 | -1416 | +384 |
4 | 926 | 1000 | -74 | +76 | -888 | +912 |
5 | 972 | 1000 | -28 | +122 | -336 | +1464 |
6 | 1021 | 1000 | +21 | +171 | +252 | +2052 |
7 | 1072 | 1000 | +72 | +222 | +864 | +2664 |
8-30 | . | . | Savings increase every year |
The 2013 College World Series is just around the corner! Below is a schedule of all the games! Who do you think will be a series favorite?
2013 CWS Dates & Schedule |
The 2013 NCAA Men's College World Series will begin with Opening Celebration Day on Friday, June 14. Games will begin Saturday, June 15, and continue through Tuesday/Wednesday, June 25/26.
*If necessary All game times are listed in Central/Omaha Time and are subject to change. |
Okay this is a funny ad by KMart! It suprises me that some people are offended by this! My opion is that if you are offended don't watch it! Please share your thoughts below!
There are two types of people in the world: those who choose to be happy, and those who choose to be unhappy. Contrary to popular belief, happiness doesn’t come from fame, fortune, other people, or material possessions. Rather, it comes from within. The richest person in the world could be miserable while a homeless person could be right outside, smiling and content with their life. Happy people are happy because they make themselves happy. They maintain a positive outlook on life and remain at peace with themselves.
The question is: how do they do that?
It’s quite simple. Happy people have good habits that enhance their lives. They do things differently. Ask any happy person, and they will tell you that they …
1. Don’t hold grudges.
Happy people understand that it’s better to forgive and forget than to let their negative feelings crowd out their positive feelings. Holding a grudge has a lot of detrimental effects on your wellbeing, including increased depression, anxiety, and stress. Why let anyone who has wronged you have power over you? If you let go of all your grudges, you’ll gain a clear conscience and enough energy to enjoy the good things in life.
2. Treat everyone with kindness.
Did you know that it has been scientifically proven that being kind makes you happier? Every time you perform a selfless act, your brain produces serotonin, a hormone that eases tension and lifts your spirits. Not only that, but treating people with love, dignity, and respect also allows you to build stronger relationships.
3. See problems as challenges.
The word “problem” is never part of a happy person’s vocabulary. A problem is viewed as a drawback, a struggle, or an unstable situation while a challenge is viewed as something positive like an opportunity, a task, or a dare. Whenever you face an obstacle, try looking at it as a challenge.
4. Express gratitude for what they already have.
There’s a popular saying that goes something like this: “The happiest people don’t have the best of everything; they just make the best of everything they have.” You will have a deeper sense of contentment if you count your blessings instead of yearning for what you don’t have.
5. Dream big.
People who get into the habit of dreaming big are more likely to accomplish their goals than those who don’t. If you dare to dream big, your mind will put itself in a focused and positive state.
6. Don’t sweat the small stuff.
Happy people ask themselves, “Will this problem matter a year from now?” They understand that life’s too short to get worked up over trivial situations. Letting things roll off your back will definitely put you at ease to enjoy the more important things in life.
7. Speak well of others.
Being nice feels better than being mean. As fun as gossiping is, it usually leaves you feeling guilty and resentful. Saying nice things about other people encourages you to think positive, non-judgmental thoughts.
8. Never make excuses.
Benjamin Franklin once said, “He that is good for making excuses is seldom good for anything else.” Happy people don’t make excuses or blame others for their own failures in life. Instead, they own up to their mistakes and, by doing so, they proactively try to change for the better.
9. Get absorbed into the present.
Happy people don’t dwell on the past or worry about the future. They savor the present. They let themselves get immersed in whatever they’re doing at the moment. Stop and smell the roses.
10. Wake up at the same time every morning.
Have you noticed that a lot of successful people tend to be early risers? Waking up at the same time every morning stabilizes your circadian rhythm, increases productivity, and puts you in a calm and centered state.
11. Avoid social comparison.
Everyone works at his own pace, so why compare yourself to others? If you think you’re better than someone else, you gain an unhealthy sense of superiority. If you think someone else is better than you, you end up feeling bad about yourself. You’ll be happier if you focus on your own progress and praise others on theirs.
12. Choose friends wisely.
Misery loves company. That’s why it’s important to surround yourself with optimistic people who will encourage you to achieve your goals. The more positive energy you have around you, the better you will feel about yourself.
13. Never seek approval from others.
Happy people don’t care what others think of them. They follow their own hearts without letting naysayers discourage them. They understand that it’s impossible to please everyone. Listen to what people have to say, but never seek anyone’s approval but your own.
14. Take the time to listen.
Talk less; listen more. Listening keeps your mind open to others’ wisdoms and outlooks on the world. The more intensely you listen, the quieter your mind gets, and the more content you feel.
15. Nurture social relationships.
A lonely person is a miserable person. Happy people understand how important it is to have strong, healthy relationships. Always take the time to see and talk to your family, friends, or significant other.
16. Meditate.
Meditating silences your mind and helps you find inner peace. You don’t have to be a zen master to pull it off. Happy people know how to silence their minds anywhere and anytime they need to calm their nerves.
17. Eat well.
Junk food makes you sluggish, and it’s difficult to be happy when you’re in that kind of state. Everything you eat directly affects your body’s ability to produce hormones, which will dictate your moods, energy, and mental focus. Be sure to eat foods that will keep your mind and body in good shape.
18. Exercise.
Studies have shown that exercise raises happiness levels just as much as Zoloft does. Exercising also boosts your self-esteem and gives you a higher sense of self-accomplishment.
19. Live minimally.
Happy people rarely keep clutter around the house because they know that extra belongings weigh them down and make them feel overwhelmed and stressed out. Some studies have concluded that Europeans are a lot happier than Americans are, which is interesting because they live in smaller homes, drive simpler cars, and own fewer items.
20. Tell the truth.
Lying stresses you out, corrodes your self-esteem, and makes you unlikeable. The truth will set you free. Being honest improves your mental health and builds others’ trust in you. Always be truthful, and never apologize for it.
21. Establish personal control.
Happy people have the ability to choose their own destinies. They don’t let others tell them how they should live their lives. Being in complete control of one’s own life brings positive feelings and a great sense of self-worth.
22. Accept what cannot be changed.
Once you accept the fact that life is not fair, you’ll be more at peace with yourself. Instead of obsessing over how unfair life is, just focus on what you can control and change it for the better.
If you’d like to see more posts like these, follow my blog or share with your friends below! Thanks!
Kris
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Americans spend billions of dollars on construction and home remodeling each year.Many homeowners have discovered that improving their present residence with an updated kitchen, an additional bathroom, new windows or a new roof can be a more prudent investment than purchasing a new residence. However, adding a room or updating a kitchen can cost more than a new car, and consumers should take some time and care in planning a costly home improvement project. Unfortunately, most consumers spend less time choosing a contractor than they do choosing a car. Here is a checklist of important things to consider before starting any major construction project:
Pet odors can be a problem when you're in the process of selling your home. If your house has an odor problem, you should remove any offending furniture or carpets or hire a professional to clean them. Be sure to check the cat box frequently and keep the litter fresh.
Since some people have allergies or fears of certain animals, it's a good idea to put dogs or cats outside or confine your pets to one area when your house is being shown. It's hard for buyers to fully appreciate your home through itchy, watery eyes or in between sneezes! Even if the house is exactly what they want, your chances of selling it are less if the scent of Spot lingers in their memory.