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Home Buying

For most people buying a home is one of the biggest financial and lifestyle decisions they will ever make. This category could possibly help assist you in making an informed decision about that purchase, so before you decide to buy a home, make sure you're ready by checking out some of the answers in this category.

500 Questions

What is the function of a broker in the purchase of a house?

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Asked by Wiki User

In poche parole l'intermediario si occupa di tutta quella burocrazia che altrimenti passerebbe al compratore. In più è un'ottima scelta se si vuole pubblicizzare al meglio la propria abitazione, visto che l'intermediario solitamente fa parte di un'agenzia immobiliare con tutti i mezzi pubblicitari necessari.

Is a home equity loan considered an unsecured loan?

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Asked by Wiki User

No, a home equity loan is actually considered a secured loan. This is because it is backed by the equity in your home, which serves as collateral for the loan.

This means that if you were unable to repay the loan, the lender could potentially foreclose on your home to recoup their losses.

In contrast, an unsecured loan does not require any collateral and is based solely on the borrower's creditworthiness.

It's always important to fully understand the terms and conditions of any loan you are considering, so be sure to do your research and consult with a financial advisor if needed.

What is a Single family occupancy?

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Asked by Wiki User

Single family occupancy refers to a housing unit occupied by one family or household, typically consisting of parents and their children. It is a commonly used term in real estate and housing regulations to distinguish between different types of occupancy arrangements.

What is the average price of a two bedroom house in New York City?

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Asked by Wiki User

The average price of a two bedroom house in New York City is around $1-2 million, but prices can vary depending on the location, amenities, and other factors.

If you buy a house how long must you keep it before you can sell it?

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Asked by Wiki User

There is no specific time requirement to keep a house before selling it. However, short-term capital gains taxes may apply if you sell shortly after acquiring the property. Tax laws vary, so consult with a professional in your area. Ultimately, the decision to sell depends on personal circumstances and market conditions.

Is there a stigma on Modular homes?

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Asked by Wiki User

There is no stigma for modular homes that I know of,but a lot of people are miss informed about modular construction. Most people are confusing mobile homes with modular homes and there is a stigma about mobile homes and mobile home parks. Another confusing part is the term that is used to describe mobile homes. The term "Manufactured Housing" has been adapted by the mobile home industry to alleviate the stigma of mobile homes. Of course uninformed people bundle modular homes in this mix since modular homes are constructed in a manufacturing facility and are transported, but that is where the similarity if any ends.

Can you get a home equity loan if you own the house outright with no mortgage?

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When excavating house foundations how much more would it cost to use hydro-vacuum excavation rather than traditional hydraulic digging?

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Asked by Wiki User

The cost difference between using hydro-vacuum excavation and traditional hydraulic digging for house foundations can vary depending on several factors:

Project specifics:

Size and depth of the foundation: Larger and deeper foundations will generally require more time and resources, increasing the cost of both methods.

Soil conditions: Hard, rocky soil might be more challenging for hydro-vacuum, potentially pushing the cost closer to traditional methods.

Accessibility: If the excavation site is difficult to access with large machinery, hydro-vacuum's smaller footprint might be advantageous and cost-effective.

Local factors:

Availability of hydro-vacuum services: In areas with limited hydro-vacuum providers, the cost might be higher due to lower competition.

Labor costs: Different regions have varying labor rates, impacting the overall cost of both methods.

Additional considerations:

Precision and safety: While hydro-vacuum is generally more precise and minimizes the risk of damaging underground utilities, the price difference might be justified for sensitive projects.

Environmental impact: If minimizing dust and noise pollution is crucial, hydro-vacuum's eco-friendly approach might warrant the additional cost.

Estimates:

It's difficult to give a precise cost difference without specific details about your project. However, some studies suggest that hydro-vacuum can be 20-50% more expensive than traditional methods for simple excavations. However, the advantages in precision, safety, and environmental impact can sometimes offset the higher cost, especially for complex projects.

Safe-Ex, Inc. is dedicated to spearheading progress in the hydro-vacuum industry by offering inventive and secure excavation solutions in California.

You can contact them for Utility Excavation Services and quotation.

How much do modular homes cost in NJ?

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Asked by Wiki User

Modular house cost is $75/sq.ft up to $115/sq.ft. It is vary from size of the houses and predictable costs for retrofitting and remodeling work.

Why does the second mortgage holder have to approve of the first mortgage refinance?

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Asked by Wiki User

The second mortgage holder typically needs to approve the first mortgage refinance because they hold a subordinate position to the first mortgage. Refinancing the first mortgage could impact the second mortgage holder's position, so their consent is often required to make changes to the primary loan.

What is the average cost for bounce house rentals?

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Asked by Wiki User

The average cost for a standard bouncy house rental varies depending on where in the country (or even the state) you are located in. As a reference, the average price for a bounce house in N. Texas is $160. Again, this is for a standard square bounce house that does not offer a slide, obstacle, or interactive option.

How do you homestead in US?

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Asked by Wiki User

To homestead in the US, you can follow these steps:

  1. Research homesteading laws and regulations in the state you are interested in.
  2. Identify a suitable piece of land that meets your needs and budget.
  3. File an application with the appropriate government agency, providing necessary documentation and fulfilling requirements.
  4. If approved, complete the necessary processes to obtain the land and start your homesteading journey, which may include building a home and establishing self-sustainable living practices.

What do you call home in sanskrit?

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Asked by Wiki User

In Sanskrit, the word for home is "gṛha" (गृह). This term is commonly used to refer to a house or dwelling where one resides.

Where can you find a list of requirements for section 8 housing in Maryland?

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Asked by Wiki User

Every Housing Authority has its own list of qualifications for which a person can receive a voucher or public housing. You will need to check with the Housing Authority in that location for specific qualifications. Many of the qualifications fall under federal guidelines, while housing authorities are free to develop their own qualification criteria according to Housing Authority standards.

If you're asking this question as a landlord, the guidelines are the same across the board: the home must meet minimum housing quality standards for a decent, safe, and sanitary home. I'm not going to list those standards here but you can check with your local Housing Authority for specifics.

What do you do if an inspection shows that your home has termites?

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Asked by Wiki User

During home inspections in New Jersey we find 80% or so of the homes (more than 20 years old) have or had termites at one time. It is quite common and usually a termite treatment is required. Treatment is usually about $500 to $1,000 dollars

However the real problem is when the home inspector tells the buyer there may be latent or hidden damages. That is where the big money comes into play. Termite damages can cost hundreds to tens of thousands of dollars to repair.

A good home inspector will make his or her client aware of the potential for latent damages and require the area where damages may exist be exposed to determine if repairs are necessary.

Termite damages that are NOT disclosed to home buyers are a very frequent cause for very expensive litigation where the previous home owner and realtors frequently find themselves digging deep into their pockets to pay out for damages.

I am the owner of Accurate Inspections, Inc., We have put our clients first since 1993

56 Woodland Drive, West Paterson, N. J. 07424 (973) 812-5100 During home inspections in New Jersey we find 80% or so of the homes (more than 20 years old) have or had termites at one time. It is quite common and usually a termite treatment is required. Treatment is usually about $500 to $1,000 dollars

However the real problem is when the home inspector tells the buyer there may be latent or hidden damages. That is where the big money comes into play. Termite damages can cost hundreds to tens of thousands of dollars to repair.

A good home inspector will make his or her client aware of the potential for latent damages and require the area where damages may exist be exposed to determine if repairs are necessary.

Termite damages that are NOT disclosed to home buyers are a very frequent cause for very expensive litigation where the previous home owner and realtors frequently find themselves digging deep into their pockets to pay out for damages.

I am the owner of Accurate Inspections, Inc., We have put our clients first since 1993

56 Woodland Drive, West Paterson, N. J. 07424 (973) 812-5100

How do you remove urine odors from linoleum?

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Asked by Wiki User

There are products you can buy at feed stores or pet stores, i find these better than the commercial ones sold at regular stores, these products eat the bacteria, some kind of enzymes in the product and they smell nice, not like a disinfectant or room spray

What does POA mean when selling a house?

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Asked by Wiki User

POA means Price on Application - generally used for luxury properties.

What kind of food do people eat in the Philippines?

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Asked by Wiki User

Filipinos eat a variety of foods mainly influenced by Spanish, American, Chinese and other Asian cuisines. The younger generation especially in the urban areas are likewise exposed to fast food. Today, Filipino food is a mixture of local, regional and international cuisines. But the most famous of all Filipino dishes remains the Adobo - a chicken/pork dish with spices, vinegar and soy sauce.

How much does it cost to build a house in seattle?

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Asked by Wiki User

The average cost per square food to build a home in Washington State is an estimated $118.95.

How much does it cost to build a small school house?

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Asked by Wiki User

Small houses are also referred to as tiny houses. The cost depends on the land it sits on as well as the type of materials and amenities included. In general, they are not particularly a bargain. They are a choice to downsize. This could be compared to buying a "Smart Car" for $23K, which is nearly the same as a full size car. There are many ways to purchase these houses. For instance, "shells" are available for between $49- $63,000 and prices go up as you customize. A Seattle Co-op charges a “buy-in” share price of $2,472, members pay a rent-like sum between $259 and $583 per month. The funds pay for utilities and other needs.

How much does labor cost to build a house?

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Asked by Wiki User

Labor cost will vary from different areas of the country. A home with custom components may have need of higher skilled builders, making the labor cost rise.

How much cost to build home in Maryland?

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Asked by Wiki User

obviously more than one rupee.

How much will building a house addition cost?

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Asked by Wiki User

the area concerned is keighley

For a small kitchen extension the basic build cost might be 10-15k, but the fitout will be in addition to this and varies depending on the level of finish required (from around 10k to 20k extra). More info:

http://www.architectureforlondon.co.uk/house-extension-cost.html

What is the average construction cost per square foot for building a house in Nantucket ma?

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Asked by Wiki User

Building costs in 2012 average about $350 per aquare foot but can easily exceed $500 for high end construction.