Some Important Expenses for Homeowners after the Purchase

Many homeowner only see the purchase price and are happy when their transaction closes. However, after the closing they do not pay rent anymore but there are some expenses that they have to keep in mind.

Every property should be insured so that the financial and property damage is covered in case a disaster strikes. The homeowner insurance pays for the property damages and possession losses. Normally you as the homeowner have also a deductible amount and that is your obligation to cover. The insurance kicks in when the damage amount is higher than your insurance deductible.  

The homeowner insurance usually insures wind and fire but not earthquake and flood. For these disasters you need an additional insurance coverage.  It is also important where your home is located. When your home is for example close to coast lines with high storm risks, this insurance is significantly more expensive than in areas with low storm risk.

Additional obligations for you as the homeowner is the maintenance of your home and the annual property taxes as well as the trash removal. When your home is located in a homeowner association community the monthly association fees are a necessary expense too. You should not ignore these payments.

You want to know your obligations? Contact us at andrea@florida-informations.com

 

Why you should buy a home now!

Everybody who is renting right now, should really think hard if there is any possibility to purchase a property. The reason is that the rents are going up constantly and based on newest surveys the landlords have the intention to keep this pressure. The rental demand is there and many tenants are too afraid to look for their dream home.

However, as a tenant you should always keep in mind that you pay a landlord for the right to stay in a home and at the end of every month the lease money is gone from your pocket to the landlord's. Would it not be better that this money goes in your own pocket?

That is easily possible when you are a homeowner yourself. Even when the home inventory is low and you have to look harder to find what you want, your dream homes is out there. When you find it you have to act quickly and make an offer. Therefore you need to be prepared so that you get the best possible interest rates for your mortgage.

To be ready for your loan application you should put the following hints on your list. They will help you to get what you want: the loan for the purchase of your dream home.

1.      Get ready to show your lender your ability to pay back the loan. Your employment records and your monthly budget plan are a valuable information for the lender.

2.      Your home value is an important point because it will be the security for the loan. The closer the home value matches to your loan amount, the better.

3.      You should have as much money as possible for the down payment at your hands even when you do not intend to use the whole amount.

4.      Your actual credit score creates a clear picture how well you pay your bills and debts on time. Therefore do not miss a payment.

Start today on your way to your dream home and pay yourself rent and not the landlord.

You have questions how to start? Please contact us at andrea@florida-informations.com

Why You should consider Florida as Your Business Place

Every business owner is constantly on the hunt for the best tax and growth location and in Florida you will find both.

The State of Florida is very favorable because it has no state income tax, only federal income taxes need to be paid. The state has also reduced business taxes and that is a further benefit for the employers from other states and worldwide. With this initiative the Governor wants to attract new businesses and stimulate the employment market. During the recession was Florida one of the hardest hit states.

Florida is also a hub for international business opportunities and trade. The southeast ports and freight facilities are tight connected to the Caribbean and Latin American region as well as Europe and Africa. One of the most promising trade opportunity for the future is Cuba which is right in front of the door step of Florida.

The state of Florida is number five when it comes to foreign employees and many Floridians speak a second language besides English. Florida welcomes foreign investments especially in the EB-5 category and offers many business ventures to be successful.

You want to know more about your business opportunities in Florida? Let us assist you and contact us at info@florida-informations.com.

 

 

Extravagance on Waves in Miami

Luxury and extravagance is not only to find on dry land but also on the open waters in the form of a new cruise liner. This new cruise ship is still under construction in a ship yard in Italy. The name of this new cruise ship is Seven Seas Explorer.

The ship is scheduled for its first trip in July 2016 in the Mediterranean Sea followed by several additional trips in that region. In the early December 2016 this elegant cruise liner will come to Miami, from where it will start to Caribbean Cruises. It is planned that the Seven Seas Explorer will travel from Miami through the Panama Canal to Los Angles at the New Year 2016/2017.

The usual passenger capacity of a cruise ship is at least 2000. However, this luxury cruise ship has only a capacity of 750 passenger in 375 suites. All these suites are spacious with European design and oversized bathrooms. And the best part of all – every suite has its own little balcony to enjoy the cruise in privacy.

Are you interested to go on such a luxury trip? Then you should act quickly because the tickets for the above mentioned luxurious trips will go fast.

For information you can send us an email at info@florida-informations.com

The sustainable housing recovery brings motivates Buyers

It took a long time to get to this point. The new construction had to wait for this strong market for seven years. The hope for this market development was already expected in the last year but the economy was not there yet.

This year the economy has a strong growth trend and that boost the consumer confidence. The low gas price and the new created jobs make it much easier for the consumer to concentrate on their next big goal: the own home.

Not only the first time home buyer are looking for homes but also the home owners, that lost their former home in the financial crisis, are back. Both buyer groups have in the today’s mortgage market good chances to get mortgage. The lenders know that they need these customers to grow in their mortgage sector and make it easier to apply for a loan.

However, to make the buyers happy there are also sellers necessary who are willing to sell. To get such a transaction quick and easy closed potential seller have to keep in mind, they need buyers who are able to finish the deal.

Therefore the seller have to avoid the following mistakes in their sale process.

The pricing of a home is very crucial. When the house is overpriced it will sit on the market without an offer. The longer the house is on the market the chances are decreasing to get the asking price. In average such home are closing below 90 % of the listing price.

Before a house is put on the market it should be in clean and fixed condition because every little flaw of the house will impact the sale price. As a seller you either have to give a price reduction or you have to fix in the home inspection discovered defects.

For questions in this matter you can reach us at andrea@florida-informations.com

Buying New Construction Homes

Not everybody likes to buy a home that is pre-owned by a seller. For these buyers a new construction home is the better solution. However, when buying a new construction home you as the buyer have to keep some important details in your mind when going on house hunt.

The developing company is the seller of the house and they offer their product – the home – based on the construction costs. That means that the material quality and the work that was put into to the construction dictates the price. This said it is highly unlikely that the builder will lower the home price when you -the buyer - enter into the contract. They will often give you some upgrades to the house and/or will pay some closing costs and that can be a good deal too.

When buying a new construction home you as the buyer make your decision based on the model home that you have visited. These homes often have upgrades that your house might not have because your house is not yet built and you decide during the purchase and building process what kind of upgrades and quality you want in your new home. Please do not forget, every upgrade comes with a new price tag and your starting purchase price may not be the end price of your new home.  Also make sure that every detail about your home upgrades and changes to the purchase contract are in writing so that you are on on the save side in case anything goes not straight during the construction period.

Sometime the home builder offers also the financing options in-house or with an associated lender. When taking the builder’s financing option into consideration, please make sure that you also check other lenders for affordable financing options. The builder's financing is not always the best for the buyer.

The most attractive deals in new construction housing sector you will get at the year's end or when the development is nearly fully finished because the developing company wants to close its books on this construction project and want to start a new project in a different neighborhood.

You want to buy a new construction home and do not know where to start, because these new construction developments are not on the internet? Contact us at andrea@florida-informations.com for assistance.

 

Tiny but not inexpensive

A condo needs not always to be spacious to cost more than a million when it is purchased. One of the priciest tiny condos is on the market in Miami. It has less than 800 sqft and the price tag for this little gem is $2.5 Million. That comes to a sqft price of $3,125.    

Maybe you ask yourself why would anyone pay such a high price for a tiny little condo like that? And you are right there are not so many buyers in the market for such a home. Only 1 % of all nationwide real estate transactions are in this category.

However, there are some benefits that come with these units. Often the condo community offers concierge services, housekeeping, cleaning and more. And the best of all – these units are located in condo complexes often in the middle of the vital city centers with shopping, healthy food and fitness options. The walkability and public transportation are often a further great plus.

You want to know where you can find such tiny little condos? Please contact us at andrea@florida-informations.com.