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Renting a Furnished Apartment: How to Get the Furniture You Want

Posted by on Jul 10, 2015 in Uncategorized | Comments Off on Renting a Furnished Apartment: How to Get the Furniture You Want

When landlords buy property as a long-term investment, they often decide to include furniture in the rental because furnished properties attract a higher monthly rent. Unfortunately, it’s still often difficult for tenants to find the type of style and design they want to live in, particularly with landlords who don’t really care about the standard of furniture in their properties. If you want a furnished apartment that meets your style expectations, or at least want to live with newer furniture, consider the four following strategies. Set design expectations with ‘real’ examples One landlord’s idea of ‘contemporary styling’ will differ vividly from someone else’s, so when you’re talking to real estate agents, it’s always useful to offer examples of the style you’re aiming for. A talented interior designer could probably draw a detailed mock-up, but most people will need to take clippings from style magazines and newspapers. Don’t expect to find your dream home straight away. In fact, you will almost certainly need to compromise. Nonetheless, if you can give the agent a clear idea about your design tastes, he or she won’t waste your time. For example, somebody who wants minimalist chic really won’t appreciate a rustic farmhouse finish. View the finished product before you commit Landlords will normally encourage tenants to view an apartment as soon as they know it is coming up for rent. As such, you may view the apartment when it has somebody else’s furniture in it, or before the landlord can replace things. It’s fine to view the property at this stage, but you should always ask for a final inspection of the furnished apartment before you sign on the line. Once you sign the agreement, it’s much harder to get the landlord to take out the scruffy sofa he or she has supplied, and not the sty­lish new leather three-piece you expected. If the landlord wants you to pay a holding deposit, make sure you only pay the money when you are sure you want to go ahead with the tenancy. As part of this, you need to make sure you have seen everything that you will have in the apartment when you move in. You can also ask the agent to list items specifically in the paperwork, in case there’s a discrepancy later. Shop around for the landlord Many companies now offer furniture rental deals for landlords, with products to suit all tastes. Landlords don’t always have time to research furniture at length, and they may simply go for the first reasonable deal they can find. If you can help find the sort of furniture you want, a landlord is more likely to give you what you want. Research rental companies online, and visit showrooms to see the furniture up close. Some companies specialize in furniture for apartments and can supply goods that are easier to move in and out of smaller units. See if there is room for negotiation on price with the dealer, explaining that you’re looking on behalf of a potential landlord. Some dealers may have ex-showroom stock or special deals they can use to help you sweeten the transaction. A lot of landlords will appreciate the effort, so you then stand a better chance of getting what you want. Share the burden Most reasonable landlords know that it’s...

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3 Real Estate Fails For First-Time Home Buyers

Posted by on Jun 22, 2015 in Uncategorized | Comments Off on 3 Real Estate Fails For First-Time Home Buyers

Buying a home can be a great experience. From the joy of making an investment to furnishing your very own place, it is easy to see the benefits of home ownership. Unfortunately, a large portion of home buyers make mistakes when it comes to purchasing their first piece of real estate. These mistakes may seem small at the time, but they can lead to long term financial ramifications and difficulty reselling the property. If you are part of the 38 percent of first-time buyers, using caution when starting the buying process is smart. Using this list of home-buying fails, you will have a successful first time home buying experience. Not Giving Your Credit Attention Ordering a credit report each year is smart for anyone, but if you are considering buying a house, it is an imperative task. Unfortunately, many first-time homebuyers learn their credit score is not high enough to qualify for a mortgage even though they have made minimum payments on their credit cards each month. Making these minimum payments is essential, but the act does not automatically give you excellent credit. Before venturing out to open houses, scouring the Internet, or contacting a real estate agent, order a credit report. If you have any negative accounts, consult the account holder to resolve the issue immediately. Pay attention to your debt to net ratio, as well. If your loan and credit card balances outweigh your household income, you will most likely not qualify for a home loan. Most lenders consider a score of 660 or higher good, but higher scores are necessary for receiving the best mortgage interest rate. Shopping without a Prequalification Finding an appealing home in your desired location may seem easy, but many first-time buyers do not place much consideration into the home price. You may find the perfect house, with all of the amenities you want and need, but it could be thousands of dollars over what you can realistically afford. To avoid the disappointment, be sure to contact a mortgage company for a prequalification. During the prequalification process, a mortgage consultant will require the following documents: Employment and Income Verification – Your bank may require pay stubs and tax returns from the last few years to verify employment and income. Credit Report – During the prequalification process, your lender will need to run a credit report to determine your score and debt-to-net ratio. Bank Statements – Copies of your bank statements may also be necessary. Bank statements will show your household spending habits, but also the amount you have available in your checking and savings accounts. The prequalification will ensure you know exactly how much house you can afford, so you can avoid searching for properties outside a specific price. Not Accounting for Other Expenses Most buyers know they will need a down payment to purchase their first home, but you may not be familiar with other expenses to pay at the time of closing. Of course, many sellers will pay a portion of your closing costs, but you will need to negotiate this during the initial contract. However, other expenses will arise during closing, so it is smart to prepare. If your down payment is less than 20 percent, you will need to pay part of your PMI, or Private Mortgage Insurance....

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