How to Negotiate with Contractors

In the presence of current recession, it has become essential for the consumers to keep the Negotiateprice down for large purchases and renovation projects.

When you deal with the contractors, they try to look out for your best interest. As a consumer, you must understand the criteria that some contractors use to drive up the final cost of unit replacements and renovations.

Knowing exactly what you want helps you keep the costs in check. You must make sure that the contractor only provides you what you’ve asked for. Whether it is a large addition or a simple air conditioning unit installation, these initial terms are the essential part of any work. It is really important to write down everything before the work begins.

Here we’re going to talk about the useful ways that will help you negotiate with the contractors:

Read More »

Posted in Negotiations | Tagged , , | Leave a comment

Why You Should Always use a Licensed Contractor for Major Home Repairs

If you want protection and accountability added to your home improvement project, you Contractorsshould hire a licensed general. Licensing for building contractors is a must in all states. These laws are designed to keep the homeowners secure from dishonest and incompetent contractors.

A license is the first factor that helps you make a decision that whether the contractor is suitable for the job or not. A licensed contractor can also help you take advantage of the dispute resolution program of the state.

Hiring a contractor without a license appears to be harmless but after listening to the stories of numerous homeowners who have become victims of shoddy workmanship and fraud, you’ll surely change your opinion.

Read More »

Posted in Improving Resale | Tagged , , | Leave a comment

Does Fixing Things you can’t See Improve Home Resale Value?

Most of the homeowners consider addressing the major improvements in their home before selling it but sometimes, they underestimate the importance of minor and hidden problems.

If you think that the minor or hidden problems will not affect the price of your home then you must think again because sometimes these hidden issues can cause you a lot of trouble.

Electrical, plumbing, heating and duct work needs to be addressed before selling your home otherwise they may decrease the value of your home. Sewer replacement is another hidden issue that many homeowners do not consider addressing when selling their homes. Read More »

Posted in Improving Resale | Tagged , , | Leave a comment

What are the 4 ways to improve water use in your home

Water is one of the most important human needs. Unfortunately, there are still some countries waterwhere summer and drought go hand in hand. People have to travel miles in order to get water.

Improving water use in your home can be very helpful for your monthly bottom line. If you make some steps towards efficiency you can see your monthly utility bill shrink and your quality of life increase. Here is how:

Read More »

Posted in Improving Resale | Tagged , , | Leave a comment

What is a Credit Score and How does it Impact Your Home Purchase?

A credit score is a statistical number which depicts the creditworthiness of a person. The credit score helps lender evaluate whether a person will repay his debt or not. Companies use previous credit history of each person in order to create a credit score for them.

A credit score is a 3-digit number ranging from 300-850. The financial trustworthiness of a person increases depending on the higher credit score.

Credit Score

How does it impact your home purchase?

Finding out your credit score is one of the first steps that you should take if you are thinking of buying a home. Your credit score is used to determine whether you are eligible for a mortgage.

There are three credit bureaus – Experian, Transunion, and Equifax. The lender will pull a merged report of all three bureaus when you apply for a mortgage. They use the middle credit score of the three to qualify you.

Depending on credit score, the lenders adjust their rate and/or fees. You will be qualified for the best conventional mortgages available with any middle score above 740. The lender has “add-ons” to either the rate or loan fee with each 20-point drop below that (720, 700, 680, 660, 640). In today’s market, borrowers with a credit score under 620 will not qualify for the loan.

The amount you qualify for can seriously be affected by the additional cost. Because of a low credit score, your mortgage insurance cost will go up if you were planning to put less than 20% down.

Borrowers with low credit scores tend to get higher interest rates on mortgages than borrowers with higher credit scores.

  • Most lenders provide the best interest rates for a credit score of 740.
  • Getting a mortgage with a credit score under 620 is difficult but not impossible.
  • A full percentage point and a half can determine the difference between the best and the worst.

How Can you improve your score?

Paying your bills on time can help you achieve a good credit score. It is important that you make payments on time even if the debt you owe is a small amount. Additionally, you should:

  • Avoid overextending yourself
  • Minimize outstanding debt
  • Refrain from applying for credit needlessly
  • A good way to prove the ability to manage credit responsibly is using the credit that you already have.

There are some other steps that you can use to improve your credit scores:

  • You can leave the unused credit accounts open if you are able to avoid using them. The amount of the credit you’re using remains low if you do not use these accounts and these accounts add to the total credit you have available.
  • Your credit score is affected in multiple ways by unnecessary credit. Therefore, avoid applying for and opening new credit accounts.
  • Clear your inaccuracies right away by checking your credit report.
  • Check your credit report regularly and monitor all your credit accounts closely to guard against identity theft.

These are some easy tips that you can use to improve your credit score. We suggest you maintain your credit score regularly so that you may not have to face any trouble. This will ultimately help you by getting into a better housing situation in the York Mills market. If you score is sound then you have a better opportunity to get what you need in a house. However, if your credit becomes bad and you need to sell your existing home quickly to improve your score then you should work with a home buyer that can close on your house fast, a company like Noteworthy House Buyers can help get you out of your loan quickly so you do not further damage your credit score. 

Posted in Buying a Home | Tagged | Leave a comment