Rental properties are a great way to bring in what is referred to as passive income. The term passive income may lead you to believe that rental properties don't require much work. However, this is not necessarily the case. Renting a property takes a lot more effort than you may expect. You will need to maintain the property, find tenants, collect rent, and deal with a variety of other responsibilities. It can become overwhelming, which is why hiring a property manager may be the best option.
You might be in the process of buying a home and have considered the possibility of not hiring a home inspector to check the home out. This could be a very costly mistake. Unless you have extensive knowledge of how a home is constructed, and how to detect any problems with the building as a whole, you really should hire a home inspector to ensure the property is in good condition.
Those who use real estate agents to sell their property earn 23% more than For Sale By Owner. The right agent reduces the stress of finding a new home or selling your current one. In this article, we discuss what to look for in a good real estate agent.
State Licensing and Certification
Many people confuse the terms real estate agent, real estate broker, and realtor. Both agents and brokers have taken an exam and are state licensed to buy and sell real estate on your behalf.
You should have your home inspected prior to signing any final paperwork, and there are many good reasons why this should be done. While a home is appraised prior to purchasing, a home inspection is not always required by the lender, and not all home buyers find this part of the purchase even necessary. Still, it's worth it to have the home inspected by a home inspection service before you come close to closing on the property.
If you need to move in the near future, you may be wondering if your family is ready to upgrade to a single-family home. If you have been renting for a while or have been living in a condo or townhouse with a homeowners' association (HOA), it's a good idea to consider the changes your family will experience in a single-family home.
Your Own Yard Space
As the proud owner of your own single-family home, you will finally have unlimited access to your green space.