TO BUY OR NOT TO BU MARKET ASIDE, ARE YOU READY?
You’re probably hearing conflicting advice when it comes to home buying. While some say a recession is inevitable,
your funds are ready to take the hit of both a down payment and a mortgage. Consider your credit, savings, and debt when determining your monetary readiness.
others highlight the lowest selling prices in years. However, you should consider the current market conditions as context rather than deciding factors when buying a home. Whether or not the time is right to buy a home depends on your personal and financial circumstances. Real estate market aside, the more important question is this: Are you ready to buy a house right now?
These three financial aspects decide whether you’ll qualify for a mortgage. For example, those with credit scores lower than 600 will have slimmer chances and higher prices. Meanwhile, your debts can also hinder your ability to qualify for a mortgage if they’re disproportionate to your income.
As for your savings, you will need enough money for the down payment, moving costs, as well as possible expenses associated with owning a home. Everything your previous landlord took care of will now be your responsibility. Even new homes have surprise repairs that will come out of your pocket.
Assess your finances. Potential homebuyers should be aware of the roadblocks before making any significant decisions. You’ll need to be entirely sure that
WHAT YOUR SUMMER GARAGE SALE CAN TEACH YOUR KIDS
A summer garage sale is a tried and tested way to earn a little cash while eliminating things you no longer need. But it’s also the perfect
“keep,” “sell,” and “toss” piles. On the big day, your children can also play a significant role in organizing and displaying your merchandise. Kids can help determine which items should share a table and what should be front and center to catch buyers’ eyes. Math and money management also play a pivotal role in any successful garage sale. First, you must determine what the items you’re selling are worth. While letting your kids set prices is probably unwise, you can help them understand market value and what people will pay for used merchandise. Your children can take a more active role in the sale itself. Depending on their ages, they can gain valuable experience making change for customers or negotiating a deal on the items for sale. The best part of using your garage sale as a learning opportunity is that your children can personally experience the value of hard work. They’ll watch their old possessions disappear and the cash trickle in. More than anything, they’ll probably love adding up the day’s takings. Whether or not you give your kids a cut of the earnings is up to you. But even if they don’t end up with fatter pockets, your children will walk away from the family garage sale with lessons that will last longer than any extra cash could.
opportunity for parents to teach their children a few life lessons. Making your garage sale a family project can teach kids about organization, money management, and the pride of a hard day’s work.
The lessons start immediately as your family determines what they no longer need. Younger children, in particular, often struggle to part with their possessions. A garage sale is an opportunity to discuss what they
use, what they don’t, and why we can’t keep every object we own forever. This process will teach kids organization as they create their
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