Equity Alliance

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How to Budget for your First Home Purchase

Have you ever dreamed of having your own house? It is for sure that you have planned for a long period of time. For some people, instead of buying alone a lot, there are people who will really like to prefer a house and lot. Before you ever search for your dream house and lot, the question is do you have the right cash to finance this purchase?

Talking about finances

It is really just normal for a person to think of your future especially if you are building a family of your own. Don’t worry because there are many ways on how you can purchase that house. To help you more, here are the things that you can take into account in purchasing for your new home:

  • Choosing the type and location of house to purchase- It is the most important thing that you need to think of. Aside from its cost, you should also consider things like the convenience in transportation, school and other establishments that is helpful to you.       It might help if this house has a rental potential.
  • Mortgage – Everyone will probably know that this is the type of loan used to purchase a home. There are different types of it having its own fees, degree of flexibility and interest rate. These things will greatly tell how much it will take you to pay that loan. There are many banks and mortgage brokers around there that you can ask about this.
  • Deposit – It is really important that you have a savings deposit. It is because there are lenders that require a borrower to have at least 20 % of the amount that you would like to loan. If you have a bigger deposit, then you have bigger chances of paying lesser interest in the given period. There were some types that have 80% of the total value just to cover the lender’s risk. And to cover this risk, there are some who would increase the charge for the mortgage insurance or the interest rate. Be wise enough to choose the right loan that will match with your deposit.
  • On-going cost – Aside from the things that you will need to repay, you will need to take into account the ongoing cost such as rates, insurance and others. If by any chances, you will be purchasing a property that has a unit title then you will pay its body corporate fees. These fees include maintenance and insurance of the shared place.
  • Moving-in cost- Aside from the costs that you will have in purchasing for your new home, there are still other moving-in cost. These may include the moving service like truck hire, decorations or renovations for that home and connections fees for internet, power and phone. Legal expenses may also be part of these expenses.

Proper budgeting of your money is the right thing to start with. It will be unreasonable if you will be purchasing a house that you cannot pay its mortgage. You can do some research for the type of house and the loan that you will get. This will all help in budgeting for your first home purchase.

When looking for a Columbia SC Mortgage check out ColumbiaMortgagePlace.com for more first time home buyer information!

Facts about Real Estate Investing

Investing on real estate is very profitable. Its returns can be truly rewarding. But if you do not know the facts about real estate investing or at least its tricks, you are doomed to lose your precious capital. Thus, it pays to have a game plan before you start making investments on lots and properties in a certain area. And to give you some of the best tricks that the most successful agents and brokers use, here are five tips on searching for the best real estates that will also present the best returns for your money:

  1. Get to know the prevalent prices of local properties. The very first thing that you should educate yourself with when you choose to invest on real estate is the local prices of properties in the areas you are eyeing. Doing so will help you make a good plan as to which of those available estates are going to work on your favor and which will only breakeven.

You can easily get the information on this through brokers and agents because they have access to MLS or the Multiple Listing Service. In fact, you can employ a few to help you find the perfect properties for your plans. For up-to-date listing data in Charleston SC visit Premier One Real Estate to find Homes for Sale Charleston SC.

  1. Find some sort of catalyst that will market for your real estate investment. Invest on locations where new attractions like malls or man-made adventures are being built. These things will do half your job in marketing because they are your marketing factors already. Areas with new infrastructures, national roads and schools are among the easiest to market, so these are the areas you want to invest on.
  1. Go for low-tax properties. The current property tax of an area is also important for you to know. This is so as people are more interested with properties that have low maintenance expenses than those with skyrocketing taxes. This is one of the facts about real estate investing that you really need to embrace. So if you have a few choices, you need to compare their current property taxes and choose the one with the lower value. It will definitely be easier to market this property.
  1. Check the rankings of the schools in the area. Every parent wants the best education for their kids so use this on your marketing strategy. Choose to invest on a real estate where a high ranking school is situated. This will surely permit you to play around the price of your real estate.
  1. Look for city alternative real estates. Properties situated in cities are definitely pricey so try to look for alternatives on the outskirts of these areas. There are surely numerous properties you can choose from and invest on. With the proper makeover and marketing, you can surely get more returns from your investment.


With these few facts about real estate investing, you can surely develop your own business strategy. If played right, you can turn your meager investment twice, thrice or more in the shortest amount of time.

How to Lower Your Property Assessment

Each year real estate property has totally increased its value. This may be a good thing for most of you. But the bad thing is, as the price or value of a real state property rises, the tax charge to it will also increase. There are instances that your house or property may be given a high assessment which will tremendously increase your tax bills but you should not worry because you can always do something about it.

You can always find ways on how to lower your property assessment. But how can you do this? Here are some useful tips to avoid super high tax bills.

  • Don’t be ignorant about the rules

If you don’t know the rules and process of assessment, you will not be able to determine whether the property assessment is right. The local government typically sends the notice of assessment in every 1st few months of a year. Take note of the deadline in value challenging.

  • Check everything

When the tax bill reaches you, you should be particular of several important details. This includes your figures of assessment, the tax rate and schedule of payment. Be very vigilant of the tax charge to you. Make sure that you get the tax that you deserve. There are states that will permit you to live and own a property and enable you to protect a part of its value or worth from taxation. You can use this in lowering your tax.

  • Check the record card of your property.

If you find your property assessment to be too high, you can check all the details in the assessor’s office property records. You will be able to see in these records the description of your property (such as having four bedrooms). If you find something erroneous, the assessor will fix the errors that you have identified. In this way, you will be able to lower you property assessment.

  • Compare same property

There are properties that will be the same as yours – the same house age, similar bedroom numbers and many more. In order to lower your property assessment, get the records card of the property that resembles yours. If you find out that your property assessment is too high compared to similar properties, you can always complain and let the assessor fix it.

  • Identify grounds for appeals

One of the valuable and strong grounds in filing an appeal is the comparison of your property assessment to other same property. Bear in mind that the bases for the assessment is overall market value of your house. Any problems in your house such as leaking basement will be decreased its market value.

  • Gather beneficial sufficient evidences

In making an appeal for over assessed property, gathering sufficient proof will be vital. These evidences include the blueprints, records of the similar real estate properties, estimates of repairs, photos and many more. This will help you in lowering the assessment made by assessors.

Your real estate property is very much beneficial. In every assessment made in it you should make sure that your property will be assessed well. If not, you can always fight and make appeal to every over assessed properties.

Read more on how to lower your property taxes here.

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Property Guys

Welcome to the source for how to build equity in real estate. We show you how to find, finance and protect your investments.  With hundreds of millions in transaction place in the last decade we have the tools and experience and want to align our knowledge with your initiative  to help you reach your financial goals sooner.

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When to Refinance Your Home?

When to refinance your home? This may be your question to yourself if you are planning to refinance your home. As you know, there are several aspects that you need to keep in mind if you wish to refinance your home. So when you want to refinance the home, each homeowner is not the same. The right time to refinance the home actually depends on the right time. When it comes to home refinancing, you have to chance the loan terms especially if you are receiving cash from home equity There are several home refinance calculator that are available out there and you have to select the right one to help you calculate them effectively. If you gain a lower interest rate on the refinance this is an opportunity for you to reduce the terms (possible) and build equity in your property sooner!

Home refinancing also lessens the monthly payment that can help one to acquire a good cash flow. This is usually done to effectively recompense for the short term cost that a business loan or other types of short term loan needed like the provision for the education that children need. Moreover, it would be best also if you can use the best refinance calculator, which can help you see the advantages that the house can acquire. An easy search for the best house refinance online is also an easy thing to do.  One great place to start and find great Charleston mortgage rates is a Charleston Mortgage Place

The shares that the house used are actually according to the value of the house and what you presently own. This may be the best essential option that you need to keep in mind to acquire the right term and the rate that can helps to qualify even if you have less home equity.

For an effective refinancing the home, one needs to have the related closing cost, which may include the cost of various treatments. Usually, you will also be able to effectively refinance them with the new refinance package to effectively help in minimizing the personal expenses.

Additionally, there are banking institutions that offer such options that effectively combine the credit line and mortgage to offer the best access to liquidity on a beneficial condition. The flexible credit line that is secured by the mortgage loan provides the best option that the refinance provider needs or required. This is an essential aspect that you need to remember if you want to refinance your home.

Refinancing can be the best option when the level of obligation is high wherein it is the source of anxiety or stress of the person. This approach should not be the best incentive to spend more especially if the person with debt is having a hard time to effectively manage his or her affairs effectively. In this case the amount of the borrowed should be repaid easy.

Refinancing your home is a tough decision, so it is very ideal if you can get the help of a professional who can help you understand the best aspects of refinancing. This is important to give you the peace of mind knowing that you have the best option for this endeavor. Choosing the right time to refinance your home is an integral part to succeed in this endeavor.