Inheritances can be messy ordeals. Trying to figure out how to distribute someone’s assets after their death can be a confusing process (even if they’ve outlined their desires in a will), and after that, you might end up with an asset you aren’t sure how to manage or sell. That’s on top of dealing with the emotional burden of losing a loved one.
Many prospective homeowners specifically look for a home they can “grow into.” They know their family and their needs are going to change in the coming years, so rather than buying a home that suits their current situation perfectly, they look for a home that could potentially serve their situation for years to come.
This is generally a good strategy, but it isn’t a perfect one, and there are some important caveats and considerations to keep in mind before you follow through on this type of purchase.
If you’re approaching retirement age, or if you’re just forward-thinking, you might consider buying a rental property as a way to fund your retirement. Properties are one of many types of investments that could collectively yield enough returns to cover all your living expenses and then some—assuming you have enough to invest in the first place. But are they an ideal choice for someone looking for a stable, enjoyable retirement?
If you’re thinking about becoming a landlord in Houston, Texas, you’re probably wondering if it’s worth the hard work and financial risk. Being a landlord is a huge responsibility and requires a bit of cash to maintain even the simplest property. When done correctly, real estate investment returns can be high, but you need a strategy or it will take over your life.
When you own a property, repairs are inevitable. Here are the five most common repairs you’ll need to perform for tenants:
1. Leaky pipes
Whether it’s a leak under the kitchen sink, in the bathroom, or out in a pump house, leaky pipes are common. Many leaks are caused by ill-fitting pipes and broken joints, but sometimes unintentional damage can be the cause. Other causes include:
You’ll spend more time in your house than any other space in the world during the years you call it home. Apart from sleeping there 50-plus hours a week, you’ll also eat, play, and possibly work out of your home.
It’s the epicenter of your life, and you’ll feel happier and more fulfilled all around if you enjoy living in it.
You probably aren’t in the business of owning rental properties for the joy and excitement it offers. Though there may be some level of fulfillment in knowing you’re connecting people with quality housing in your region, it’s ultimately about dollars and cents.
You’re trying to pay your own bills and turn a bit of a profit. But in order to make it work, you need tenants who pay on time and in full.
In each of the past three years, more than 1 million new homes have been built in the United States. Industry observers predict this will again be the case in 2019.
New home construction is a booming industry right now, which leaves many prospective homeowners wondering whether they should opt for a new home or a “used” one.
Whether you’re welcoming new tenants into your property or you’re a new tenant making a move, summer is a less than ideal time to move in the Houston area. In August, days average 93 degrees Fahrenheit, while July tends to be wet, averaging over 5 inches of rain. In fact, Houston weather is so tough to tolerate in the summer that many property owners find that rentals slow down in the summer. That’s why, when tenants make that big move during difficult weather, it’s always nice to offer some support.
Section 8 housing is a federal program administered at the local level and is key to providing affordable housing to low income Americans. For those who qualify, this program can be life-changing, providing a stable home environment, giving children a safe place to grow up, and even helping them access a higher quality education. In order for Section 8 to function, though, landlords have to sign up qualifying properties for the program and accept vouchers from tenants – and this is where problems arise.