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Ways To Make Money Outside Your 9-5

June 10th, 2021 Posted in Entrepreneurship, Money Tips
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In the past, most households would manage and survive one person’s income and often the woman would stay at home to look after the home and raise the kids. Although outdated still a lifestyle choice for many, but the norm and most common practice is having two working adults in the home now. The cost of living has increased a lot and so has the need to generate more income into the household. Things don’t stop there, so many people are looking for extra ways to bring in more money on a monthly basis now on top of their normal jobs and salaries that they receive. If this is something you want to do then here are a few ways you can look to make money. Why not give them a go and see where you end up.

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Photo by Ivan Bertolazzi from Pexels

Start An Online Business

This was a very popular choice of passing time during the lockdown. So many people have started businesses especially as their jobs were at risk it gave them a buffer. Your online business can be anything that suits you, the possibilities are endless. If you are particularly creative you can use that to your advantage. If you paint, sew, knit, or even make pottery, this can be used. By using these hobbies to then generate income is a very popular option especially amongst the younger generation. 

Invest In Stocks And Crypto 

Again, this is becoming a fast favorite and so many people are getting interested in the stock market and investing their money for a greater return. It can be quite daunting trying to enter the world without any prior knowledge, but there are so many books and online help to explain it to you in layman’s terms. There is Bitcoin and holding ETH all amazing options and ways to help generate more income in the long term rather than an immediate increase,

Blogging And Writing 

This is a concept that takes a bit of time in order to be able to earn money but it is a nice little money bank when needed. If you have an interest in writing when starting to write a blog you need to think about the reader all the time. It is important to write about something you have an interest and passion in. It can come across to the reader if you aren’t interested in what you are writing about and can put them off. With blogging there are different ways you can make money, the main two are by sponsored ads on your website and then payment to write about a certain subject or to go alongside something you were gifted to review and promote. You can also then branch out into using the social media accounts linked with your blog to generate income through Ad posts. This is like blogging on a smaller scale on social media. You will take some photos and review and promote the products or service and receive payment for your time and reaching your audience.

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Five Things To Remember Before Shopping For A Mortgage

May 19th, 2021 Posted in Money Tips, Property Investment
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The world of real estate has become more competitive than ever in the wake of the pandemic. Homebuyers need to get all the help possible to ensure that they are smart about their choices when shopping for a mortgage. You may find that the market is far tougher to get into than it was before, and that’s pretty much the case all around given that people are losing jobs and homes all over the world.

If you do manage to find your ideal house, you can use some help from Trufe to get some information on your mortgage choices. You want to present a great offer and be sure that you have the house closed ASAP. Finding the right lender is important, but it’s also helpful to find an advisor who can talk you through everything that you need to know about your mortgage and the choices that you have in front of you, too. So, what should you remember before you start shopping for a mortgage? Let’s take a look:

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Photo by Andrea Piacquadio from Pexels
  • Get referred. Ask your friends and colleagues who they chose to use to get their homes closed off and mortgages completed. They will be able to advise you on the best mortgage advisors and brokers out there, and they can give you a personal experience of getting their mortgage, too.
  • Know your budget. You can’t start house hunting without an idea of your affordability. It’s always wonderful to be nosey about the homes that are way past our budgets and play celebrity, but it’s not always the best option for you. Get to know your budget first and you will be able to shop realistically.
  • Pre-Approval is a must! If you want to skip the stress in the market today, get pre-approval for your loan before you start looking. If you know what your pre-approval rate is, you will know exactly what the budget is for your home dreams. Lenders will verify your application through your income and asset documents, and you need to have that information validated.
  • Get online and check reviews. Technology has revolutionized very different things in the market today, so if you get online and start researching your mortgage offers, you will be able to get to know which is the best place to look in the market for your mortgage. Research is a must!
  • Work well with your real estate agent. Your real estate agent is so important to your application, and you need to know someone who will give you honest information about mortgage lenders. They will be able to talk you through your mortgage options and you can use their insider knowledge to the industry, too!

When it comes down to it, it’s important to remember that your mortgage is the biggest purchasing decision you’ll make in your life. This should be done carefully so that you get the right lender and advisors on your side throughout the process. Buying your house allows you to level up in life!

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Save Money When Selling Your Home

May 12th, 2021 Posted in Property Investment
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Most people, when selling their homes, are so focused on the money they are (hopefully) about to make, that they spend very little time thinking about all of the costs associated with doing so, and how they may be able to save a little money there.

Selling a house can be an expensive business, but if you’re sensible, you can make some serious savings.

Choose your estate agent wisely

Probably, the biggest way to save money when you are selling your home is to choose a great estate agent like Jordan & Halstead, for example, who are very affordable in your local area, as well as being good at their jobs, so that they can maximize the price you get for your home. 

That’s why you should take your time to check out local estate agents before making a choice, instead of just going with the first one you find. A lot of estate agents will tell you exactly what you want to hear and promise you things that just aren’t possible, all while charging a premium, If it sounds too good to be true, it probably is; find the sweet spot where price and reputation meet and stick with that.

How to save money selling your home image white and brown concrete bungalow under clear blue sky
Photo by Pixabay on Pexels.com

Don’t do too much work

Many homeowners will try to maximise the return on their homes by renovating them before selling. Sometimes, this can work well because things like a new kitchen can add value to your home, but the thing is, this doesn’t always work, and unless you know what you are doing and have totally studied the local market, you probably shouldn’t make more than a few cosmetic changes and necessary DIY jobs. If you do what to carry out a bigger renovation, research how much value it is likely to add to your home, and if that figure is less than the cost, don’t get the work done.

Keep your emotions in check

So many homeowners have settled for a lower price simply because their emotions have gotten the better of them and they haven’t wanted to sell to a particular buyer, perhaps because they feel like they won’t look after the home or that the home is not right for them, and although this is totally understandable, it is not very sensible. If you get a good offer, not taking it is only going to cost you money in terms of the extra time and effort that will have to go into finding another buyer, not to mention the fact there’s no guarantee you will get a similarly large offer next time. Selling your home is a financial transaction and the more you can remind yourself of that the better.

Saving money when selling your home can be difficult because there are many costs that cannot be avoided, but it is, as you can see, still possible to cut costs and maximise your returns here and there. Stay calm, look fairly at the finances and don’t be too rash during the process and there’s every chance you’ll save.

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Here’s Why You Should Buy A Brand New Home

April 20th, 2021 Posted in Property Investment
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Are you thinking about purchasing a property this year? If so, then you have two main choices. You can think about purchasing a new home on the market. Or, you could consider a fixer-upper. We think the former decision is the right choice and there are a few reasons for this. 

Fewer Issues

One of the first reasons why you should buy a new home is that there are going to be fewer issues with the property. That’s important because older homes are always going to have a vast range of problems. Parts are also going to break far more quickly than you would like. For instance, you might find that you need to replace the boiler a couple of months after moving into a fixer upper. This isn’t going to be the case with a new build because – as the name suggests – everything is going to be brand new. 

Location, Location, Location

Before you buy a fixer upper, it’s important to ask yourself why it has been left in a state of disrepair. The answer is usually that the owner isn’t interested in the location of the home. The location could even be a reason why the home is never going to accumulate value, regardless of what changes you make. New builds, on the other hand, are always going to be part of exciting, up and coming areas. If you want to explore properties like this, then we recommend that you do think about looking at a company like Salboy. They will be able to help you find the best new properties on the market right now. 

The Modern Home

If you are buying a property that you’re going to live in – at least at first – then you should always consider what you want from the home. We imagine you are looking for a property that is going to be the perfect place to start a family. If that’s the case, then a new build will be ideal. As well as providing the right location that we mentioned, a new build will be kitted out with all the tech that you could need to make the home a dream come true. 

People Like You

Finally, if you buy a new build, you’re going to be living with people who are in the same position as you. This is true whether you are starting a family, retiring, or setting into middle age. Why is this? Well, new builds attract the same type of individuals particularly if they are part of a planned development. This ultimately means that you will be living in a community that you want to be a part of and that you do feel connected to. 

Here's Why You Should Buy A Brand New Home - new house image
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We hope this helps you realize some of the key reasons why you should purchase a new home rather than buying a fixer upper. While a new build is always going to be more expensive, it provides far more security in the long term and a vast range of benefits that should not be overlooked.

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Can You Afford To Buy Your First Home?

April 15th, 2021 Posted in Money Tips, Property Investment
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For the longest time, buying a home was one of those things that was just sort of treated as an expected part of life. It was up there with a career, a marriage, and all of the other things that make up the stereotypical path of someone’s life. Of course, as time has gone on these things have become less and less necessary to live a happy life but when it comes to buying a home, something else has happened. There are just as many people who would love to buy a home as before, but it’s become more and more difficult. The reality is that with house prices constantly going up and wages stagnating, many people end up feeling as though the idea of actually being able to buy a home is little more than a fantasy. But is that actually the case? Of course not! The truth is that it’s still entirely possible to buy a house, even if it’s not as easy as it once was. You’ve just got to be prepared to put in the effort to understand the process, and make sure that your finances are in the right position to do it. With that in mind, here are just a few things to consider when trying to figure out if you can afford to buy your first home.

The mortgage

Can You Afford To Buy Your First Home? - growing money in jars image
Image by Nattanan Kanchanaprat from Pixabay

The most obvious thing that comes to mind when people are thinking about buying their first home is the process of getting a mortgage. After all, unless you happen to be extremely lucky, you’re very likely not going to be in a position to buy a home outright. (If you are then what are you doing reading this?!) The issue for a lot of people is that the process of getting a mortgage can be rather scary and complex. After all, you often end up having to wade through stacks of paper with all kinds of confusing clauses and small print. Not only that but your success in actually applying for a mortgage can often depend on a number of factors. Before you start, it’s best to get pre-approved before you start house hunting; check out this guide for more information on managing that as it can be tricky. Using something like a home loan eligibility calculator is a great first step in checking to see what kind of mortgage you may be able to take out. That way, you can figure out any potential changes that you might need to be able to buy a home and what it could end up costing you in the long term.

The deposit

One of the biggest barriers to a lot of people’s ability to buying a home is very likely to be the deposit. For many people over the years, they’ve been able to buy a home with incredibly small deposits that made buying a home and getting a mortgage a whole lot more accessible. This is something that has become even more pronounced in the era of COVID-19. Where previous generations might have been able to get a home with a 1% or 2% deposit, there are many lenders who won’t accept less than a 10% deposit in the current era. When you combine that with the rising house prices then it’s clear that being able to afford a deposit is a much bigger challenge than before. However, just because something’s a challenge doesn’t mean that it’s impossible. The key is to start putting money aside as soon as possible. If buying a home is something that you’re really committed to then every spare bit of money that you have should be put away. Find new ways to budget to allow you to save more and every bit of extra cash that comes in should go in the pile. It isn’t necessarily going to be a fast process, but it’s the only way to really afford a deposit in the current era.

The fees

Can You Afford To Buy Your First Home? - stack of coins on bank notes image
Image by Steve Buissinne from Pixabay

It often comes as something of a nasty surprise to a lot of people when they realise just how many fees are involved in the process of buying a home. If you’re not aware of the fees that come with buying your first home then you could end up in some serious trouble. You have to consider mortgage fees, a valuation fee, a survey fee, a potential broker fee, your solicitors fee, and a whole lot more. Now, most of the time these are things that you will be taken through at the start of the process but you need to be aware of these kinds of fees well in advance so that you don’t go into the process assuming that you can afford a home when you simply can’t.

Your credit rating

As strange as it might sound, it’s not just a matter of having the money and actually being able to afford a home, you also need to be able to demonstrate that you can afford the payments in the long term. The way that this is calculated is through your credit rating. If you have a poor credit rating then it won’t matter whether you have the money for a deposit or not. Things like paying off your credit cards on time and making any loan payments in full is the best way to ensure that your credit rating is always in the best possible shape.

The truth is, while it is absolutely possible to afford to buy your first home, it would be a mistake to assume that it’s something that’s going to be easy to do. A home is likely to be the most expensive purchase you ever make and that’s not something that you should take lightly. If you want to buy a home then you’ve got to be willing to think ahead. It’s the kind of thing that you need to plan for and make changes in your life if you want to be able to afford it. The mistake that a lot of people make is that they assume that they can’t buy a home when what they actually mean is that they can’t buy a home “right now.” By planning ahead, managing your finances, and working towards a goal, you’re going to be in a far better position to buy your first home regardless of your personal circumstances.

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