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Archives June 2021

social security

Social Security Benefits -What You Need To Know

Social Security payments are almost a general part of retirement; around 90% of retired Americans of age 65 and older earn these benefits. It makes up a huge part of many older Americans’ income. The SSA (Social Security Administration) pays billions of dollars each month to retirees, disabled workers, and also their family members. But first, you need to know what are social security benefits and how do you know whether you qualify for them or not.

By comprehending how social security benefits are calculated and paid out, you could be eligible for more than you imagine.

Regardless of you are receiving benefits or will receive them in the future, it is crucial to know as much as possible about social security benefits so that you know how much you need to save and when to file.

How Social Security Works?

Social security is a government program that gathers taxes from Americans who are working and distributes these funds to qualifying retirees, disabled workers, and their families to assist them to remain financially secure.

To being qualified for social security, a worker usually should earn 40 credits, however, if they die or are disabled young, they could qualify with fewer credits.

You can demand social security according to your own work record, when you have received adequate credits, or can be eligible to demand spousal benefits according to your current or ex-spouse’s work record if this credit is more than what you are entitled to, on your own. In certain situations, dependent children and family members might also qualify for family benefits.

You require filling out an application online or at your local Social Security Administration office when you are ready to apply for social security. The information in your application will be verified by a government representative to determine whether you qualify, and then you will start receiving monthly checks.

This post contains affiliate links. Please please read my Disclaimer for more information

Types of social security benefits

Three main types of social security exist:

  • Retirement benefits
  • Survivors benefits
  • Disability benefits

Retirement benefits

Workers of age 62 and older who have received at least 40 credits are eligible to receive social security retirement benefits. The amount of your benefit checks depends on your AIME over your 35 years of highest-earning, and the age when you start benefits.

To claim your standard benefit based on your AIME, you need to wait until your full retirement age (FRA). If you were born between 1943 and 1954, your full retirement age is 66 and is 67 for those born in 1960 or later.

In case you start claiming at 62 while your FRA is 67, you will receive only 70% of your standard benefit and in case your FRA is 66 you will get only 75%. Your checks will increase slightly by every month you delay benefits until you reach the maximum benefit at 70. If your FRA is 67 and you wait until 70 you will receive 124% of your standard benefit and if your FRA is 66 you will receive 132%.

Certain family members could demand benefits on your work record, in case doing so would give them more money than they are eligible for on their own work record. Eligible family members are as follows:

  • Spouses
  • Ex-spouses, if the marriage lasted for a minimum of 10 years and they did not married again
  • Children under 18, or up to 19 if they are still enrolled in high school
  • Children of any age who were disabled under 22

Spouses and ex-spouses should be at the age of at least 62 in order to demand benefits.

Survivors benefits

Survivor benefits are for the qualified deceased workers’ family members.

Surviving spouses in the age of 60 or older (50 or older if disabled) can demand benefits. Also, surviving spouses of any age can claim benefits if they are caring for the deceased worker’s child who is disabled or under 16. It is also applied to the ex-spouses of the deceased worker if their marriage lasts at least 10 years and the ex-spouse did not married again.

Disability benefits

Adults in the age of 18 or older who are unable to work because of a mental or physical disability that is anticipated to last at least 12 months or cause death are eligible to receive social security disability benefits. Depends on your age at the time of your disability, if you have not earned 40 credits, you are still eligible. The benefits will be calculated based on the person’s average lifetime earnings; therefore a disabled person who earned more when they were working would get large disability checks.

While applying, you need to provide the government with information about your medical condition and your working history, containing related documents. In order to decide on your eligibility, the Social Security Administration will review your case. You will get a disability check for the rest of your life or as long as your disability lasts, in case you are nominated as eligible. Otherwise, you can request reconsideration or appeal to an administrative law judge.

Following family members can demand benefits on a disabled worker’s work record:

  • A spouse 62 or older; a spouse of any age in case of caring for a disabled worker’s disabled child or child 16 or younger
  • Ex-spouses who were married to the disabled worker for a minimum of 10 years and did not married again
  • Children of any age who were disabled under 22
  • Unmarried children up to 18, or 19 if still attending high school.

Conclusion

Social Security provides benefits to almost 65 million people, and the monthly checks it paid out to retirees or disabled people aid them to maintain healthy finance.

It is crucial to calculate how much you will receive, which benefits you are eligible for, the best time to claim your benefits, and how much money you will need each month to live, in case you think Social Security benefits will be an important part of your retirement plans. Preparing yourself with knowledge is a great step to making smart decisions about your benefits.

“If you have any feedback about social security benefits – what you need to know that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

Estate planning

What Is Estate Planning And How Do I Get Started?

What is estate planning?

An estate plan is a fundamental part of your finances, however many people do not establish one. Researches have shown that people do not have a will because they have not intended to do it or do not think they have adequate assets to leave to anyone. Estate plans are not only for wealthy old people, but every mature individual needs an estate plan.

The word ‘estate’ refers to the properties you own such as your house/houses, land, vehicle, jewelry, antique collection, bank accounts, investments, etc. In your estate plan, you will clearly delegate authority to the person you trust to hold the power of making decisions on your medical, financial, and legal subjects. If you pass away without an established plan, the state will decide on what happens to your assets. It causes your family to spend months or years in probate court, instead of simply weeks.

Estate planning contains various legal documents:

Will

A will is your written wishes about what you want to happen to your assets after you perish, also if you have small kids, you can name a guardian for them.

The difference between will and trust:

* Will is typically considered the basis for an estate plan since it documents the distribution of assets and property.

* Trust is a fiduciary arrangement that enables a third party to hold and manage certain assets on behalf of beneficiaries and make sure properties go in the hand of designated beneficiaries.

A living will or advance medical directive

This document speaks out your wishes about your medical situation in case you are unable to speak for yourself.

Healthcare power of attorney

This document nominates a representative and enables it to make healthcare decisions on behalf of you in case you are unavailable or cannot speak for yourself.

Financial power of attorney

This document nominates a representative and enables it to make financial decisions on behalf of you in case you are unavailable or incapacitated.

HIPAA (Health Insurance Portability and Accountability Act) authorization

HIPAA limits who can access your medical records. Some healthcare power of attorney documents includes a HIPAA release section that enables your nominated representative to access your medical records. You might also wish to give access to other persons as required.

This post contains affiliate links. Please please read my Disclaimer for more information

How to get started with state planning?

1. Make a list of all your assets

Your assets are the things you own with monetary value. They can be tangible and intangible and are as follow:

  • Homes, lands, and real estate properties
  • Vehicles include cars, motorcycles, boats, etc.
  • Investment and retirement accounts
  • Businesses
  • Mutual fund, bonds, and stocks
  • Valuable possessions, such as antiques, art, jewelry, and furniture

Whether you are wealthy or not, if your wealth reaches $250 or $25 million, keep in mind that having an estate plan is essential for everyone older than the age of 18. In case of your death, an estate plan or at least a will can make things easier for your family.

2. Collect the document you will require

The second step, after making an inventory, is collecting corresponding paperwork and important documents related to your assets. It is including:

  • Long-term care insurance policy
  • Life insurance policy
  • Vehicle titles
  • Housing or land certificates
  • Military discharge papers
  • Marriage license
  • Divorce papers
  • Partnerships or business agreements

In case existing usernames and passwords connect to any of these accounts or documents, write that information too. Accumulate all of these documents in a safe place, like a legacy drawer or a safe deposit box. When you prepared your estate plan documents, you will attach these top drawers too. Assure to inform the executor of your will and also important family members about where to find it.

3. Talk with your family

You should inform the people you nominated to execute your will or give them the power of attorney before you pass away. Sit down with your family and assure that everyone knows about what will happen to your possessions.

Designating a trusted person or persons to execute your will and make decisions on behalf of you about financial and health care subjects is one of the most important parts of estate planning. They refer to fiduciaries in legal language. A fiduciary is someone you trust to act on your behalf.

You should talk with your family and anyone who will be influenced by your estate plan.

In case you are married, talk with your spouse about your estate. You are creating a team, so you should work for the same goal.

In case you are single, you have to talk with your family and sometimes with your close friends about your estate plan.

In the case of having children, you should think about choosing a trusted person as your children’s guardian. If your children are of an appropriate age, involve them in the conversation to prevent them from being surprised by the decision.

4. Understand if you need to consult with an estate planning attorney

If you are young, single, have a minor estate, and uncomplicated family situation, you might be able to create your will online; you do not need to consult with an attorney.

In case your properties are sizable or you have concerns about your family, then you surely need to meet with an attorney. There are some reasons you need to consult with an attorney:

  • In the complicated situation such as owning the larger estate
  • To prevent federal estate tax
  • To understand state-specific regulations

If you are seeking a good estate planning attorney, I suggest you ask around first. Use the advice from your tax professional and/or financial advisor. Talk to your parents. Search for online reviews. Then set a time to take a step forward.

Conclusion

An estate plan is different legal documents that an attorney or lawyer generally creates and you sign. You need to inform the people you have selected as your trustee and also should talk to your family about what will happen to your assets. Put the copies of your documents in a secured place and let your main family members know that.

“If you have any feedback about what is estate planning and how do I get started that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

Estate Planning

Estate Planning Checklist

To do estate planning doesn’t have to be rich; in fact, everyone needs some degree of estate planning. The estate includes everything someone owns and can be in any size, which is why it can be worth taking time to plan for what happens to it. Estate plans should be created for the particular needs of the individual.

The estate plan checklist provided in the current article will explain various types of estate planning documents, and assist you to evaluate those that will be valuable to you.

Even if you plan to hire an estate planning attorney, still you need to have a basic knowledge of what is involved.

Six steps to basic estate planning

1. Inventory your stuff

Maybe you think that you do not have that many assets to justify estate planning. However, when you begin to look around, you will get astonished by all the tangible and intangible assets you have.

The tangible properties in an estate can be including:

  • Homes, lands, and other real estates
  • Cars, motorcycles, and boat as well as other vehicles
  • Collectible objects like art, coins, antiques, and trading cards
  • Other personal properties

The intangible assets in an estate can be including:

  • Bank accounts like checking and savings accounts and certificates of deposit
  • Mutual funds, bonds, and stocks
  • Health saving accounts
  • Life insurance policies
  • Retirement plans like individual retirement accounts and workplace 401(k) plans
  • Ownership in a business

At the moment that you make a list of your tangible and intangible assets, you should calculate their value. An outside valuation can help for some assets such as:

  • § Statements from your financial accounts
  • § Recent appraisals of your home

In the lack of outside valuation, value your assets based on how you expect your inheritors will value them. In this way, you will assure that your possessions are divided fairly among your loved ones.

2. Account for your family’s needs

When you are informed of what is in your estate, you will consider how to protect your assets and your family in your absence.

If you are married and your current lifestyle needs dual income, having life insurance is very important. It will be even more important in case you have kids with functional needs or college tuition bills.

While writing your will, name a guardian and a backup guardian (just in case) for your children. It helps escape from expensive family court fights.

Write your wishes for your kids’ care. Do not assume that your family members will care about your children or raise them according to your ideas and goals. In case the issue goes to court the judge will not abide by your wishes.

This post contains affiliate links. Please please read my Disclaimer for more information

3. Establish your directives

A trust can be appropriate. You can determine parts of your estate to go toward specific things while you are alive. Your selected trustee can take over, in case you become ill or incapacitated. After your death, the trust properties transfer to your designated beneficiaries.

In case you become unable to decide on your medical care, a medical care directive, also called a living will explain your wishes for medical care. Regarding your health care, you can also give a trusted person the authority to make decisions in case you cannot. These two documents sometimes merged into one, named advance health care directive.

If you are medically unable to manage your financial affairs, a durable financial power of attorney enables someone else to do so. If you cannot act in legal and financial situations, your designated agent, as directed in the document can act on behalf of you. These acts include paying your taxes and bills and also accessing and managing your assets.

If the idea of turning over everything to someone else worries you, a limited power of attorney can be useful. This legal document imposes limits on the powers of your selected representative.

Attention about who you give power of attorney. They will actually have your financial well-being in their hands.

4. Review your beneficiaries

Check out insurance and retirement accounts. Insurance products and retirement plans generally have beneficiary designations that you should follow and update as needed.

Assure the right persons receive your assets. Sometimes people forget the beneficiaries they names on policies or accounts established years ago. For instance, if your ex-spouse is yet a beneficiary on your life insurance policy, it would be bad news for your current spouse.

Do not remain any beneficiary sections empty. If so, when an account goes through probate, it can be divided according to the state’s regulation for whom gets the property.

Define persons as contingent beneficiaries. These possible beneficiaries are very important if your primary beneficiary passes away before you do and you forget to update the primary beneficiary designation.

5. Weigh the value of expert help

You need whether hire an estate tax or attorney expert to assist build your estate plan.

In case your estate is small and your wishes are simple, an online will-writing program could be adequate for your requirements.

It can be valuable to consult an estate attorney and a tax advisor if possible, in case you have doubts about the process. They can guide you to the proper estate planning path, specifically in the state with estate or inheritance taxes.

For the complicated implications like a large and complex estate includes business issues, special child care, or non-familial heirs, an estate attorney and tax professional can help.

6. Plan to reassess

Once your circumstances change, revisit your estate plan. No matter these changes are bad or good they can be including the birth of a child, marriage or divorce, perish of a loved one or getting a new job.

Considering that laws may have changed, you need to revisit your estate plan periodically, even in non-changed circumstances.

Never drafting a plan at all, this is the biggest mistake in estate planning.

Conclusion

Making delays in estate planning can be very harmful. Although no one likes to think about dying, no planning and not being prepared can cause family disputes, assets getting into the wrong hands, long legal disputes, and extra money paid in estate taxes. So set a time to get started.

“If you have any feedback about the estate planning checklist that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

Municipal bond

What Is A Backdoor Roth IRA? How Does It Work In 2021?

Do you remember what are Roth IRAs and Roth 401(k)s? Before going into details about “what is Backdoor Roth IRA?” let’s first review them very quickly and briefly.

A Roth IRA or Roth 401(k) allows taxpayers to put aside a few thousand dollars a year into their retirement savings account. As we mentioned earlier, they are post-tax
retirement accounts, meaning that when you withdraw your fund at retirement age, it is tax-free, and all belongs to you. Why? Because you have already paid your taxes. To put it in other words, these Roth accounts are different from traditional (or regular) 401(K) or IRA retirement funds that are pre-tax. It means that such retirement plans give taxpayers immediate tax advantages (i.e., they are tax-deferred), meaning that in IRA or 401(k) plans, investors will later pay the tax on that money when they withdraw it in their retirement.

Why Roth IRA is so wanted?

Well, the answer is very simple. It has so many advantages, including:

  1. Roth IRA plan offers tax-free growth and tax-free withdrawals in your retirement.
  2. There is no age limit. You even can transfer your Roth IRA to your beneficiaries, and their withdrawals will be tax-free too.
  3. Roth IRAs don’t have required minimum distributions (RDMs), meaning that you can take out as much or as little as you want, and whenever you want, or leave it all for your beneficiaries. By the way, many investors intend to use their Roth as a legacy or an inheritance. Furthermore, you can keep your money in your Roth IRA account as long as you want; Thus, your fund can surely keep up growing there.

The problem is that people who earn above a specific amount are not entitled to open or fund Roth IRAs –indeed under regular rules, anyway. Now this question may arise that what are Roth IRA income limits. In 2021, the income limit for singles is $140,000, and for married couples, the limit is $208,000. Moreover, the contribution limit is $6,000 a year unless you are age 50 or older—in which case, you can deposit up to $7,000. Note that Roth IRA income limits are indexed to inflation and change annually, meaning that the higher the inflation rate, the more likely you are to see limits will go up. On the whole, your Modified Adjusted Gross Income (MAGI) must be less than the annual limit set by the IRS.

Okay, now let’s get back to our main question, What Is a Backdoor Roth IRA?

If your income is too high for a Roth IRA, you can get to a Roth through the “back door,” called Backdoor Roth IRA alternatively. Backdoor Roth IRAs are traditional IRA or 401(K) accounts that have been converted to Roth IRAs. Say differently Backdoor Roth IRA provides an option for higher-income investors who ordinarily couldn’t contribute to a Roth. Interesting ha? Okay, let’s see how we can set up a Backdoor Roth IRA?

This post contains affiliate links. Please please read my Disclaimer for more information

How Does It work?

In this part, we will explain how to create a Backdoor Roth IRA. Actually, you can do that in different ways.

  1. You can create a traditional IRA account and then roll over the fund to a Roth IRA account. Do this account conversion as soon as possible. If you delay your conversion, everything will become too complicated. So keep life simple and stay out of trouble.
  2. You can create a 401(k) account and then roll it over to Roth IRA.

Is Backdoor Roth IRA Right for You? What You Need to Know?

  1. You have to know that this conversion to a Roth IRA account is not a tax dodge. Suppose you have $7,000 in your traditional 401(k) or IRA account and then convert your account to Roth IRA account. In this case, you still owe taxes on $7,000.
  2.  Be aware that income limits do not apply to Roth IRA Backdoor conversions.
  3. Aside from getting around the limits, Backdoor Roth IRA will have significant tax savings over the decades for you; because Roth IRAs, unlike traditional IRAs, are not taxable when you withdraw the money at your retirement. In general, it is the most advantageous point of Roth accounts, whether Roth IRA or Roth 401(k), that you pay taxes upfront on your contributions and everything after that is tax-free, and all accumulated money in the fund belongs to you at retirement. It will be a very beneficial option for your retirement savings; because tax rates will go up in the future, and your taxable income will be higher after you retire than it is now. So if your employer offers you a Roth plan, never refuse it.
  4. The Backdoor Roth IRA is not a good idea for those who think that will need to withdraw the money they are contributing in the next five years. In this case, you will have to pay a penalty when you withdraw it.

5. Ask a financial or tax advisor for help to carry out this conversion process correctly and avoid costly tax errors. There are very subtle points in this process that if you do not know them very well, they may incur costs chargeable to you. For example, suppose you’ve rolled a 401(k) balance from an old employer into an IRA this year. In this case, if you also do a Backdoor Roth, you will wrap up owing taxes.

Conclusion

Backdoor Roth IRA allows high earners to have Roth IRA accounts indirectly. This situation illustrates a significant tax loophole. High-income taxpayers can not open Roth IRA accounts directly because of Roth IRA income limits. But, traditional IRA doesn’t have such limits and does not prevent people with higher incomes from contributing.

The Backdoor Roth IRA takes advantage of this fact and helps you maximize your retirement savings. Keep in mind that it is not a simple and straightforward process, but it is very complicated and twisty. For help in fulfilling your Backdoor Roth IRA correctly and avoiding costly mistakes, please consult a financial planner or tax advisor.

“If you have any feedback about what is a backdoor Roth IRA that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.

mortgage

What To Look For When Buying A House?

Other than price, there are many additional considerations to make, while looking for a home, such as a price, location, size, condition, schools, and more. Most buyers change their specifications when they start visiting homes. Your needs and personal lifestyle should define your home criteria. Without thinking about what you are looking for, we provide you with some general rules you should track to guarantee your happiness with the home you will buy.

The main features buyers look for in a home

Some very important features for the most buyers (the figures are from the Zillow Group Consumer Housing Trends Report 2019):

Buyers need and want regarding the neighborhood

  • Safety: A neighborhood that generates safety feeling is extremely important, said by 82% of buyers
  • Preferred neighborhood: Extremely important, said by 56% of buyers
  • Walkability: Extremely important, said by 60% of buyers
  • Proximity to services, shopping, and leisure activities: Extremely important, said by 53% of buyers
  • Offers a sense of community or belonging: Extremely important, said by 48% of buyers
  • Maximum commute to school or work: Extremely important, said by 52% of buyers
  • In preferred school district: Extremely important, said by 43% of buyers
  • Close to friends and family: Extremely important, said by 46% of buyers

Home features buyers want

  • Inside of initial budget: Extremely important, said by 83% of buyers
  • Preferred number of bathrooms: Extremely important, said by 67% of buyers
  • Preferred number of bedrooms: Extremely important, said by 76% of buyers
  • Private outdoor space: Extremely important, said by 67% of buyers
  • Floor layout that matches preferences: Extremely important, said by 67% of buyers
  • Air conditioning: Extremely important, said by 78% of buyers
  • Preferred square footage: Extremely important, said by 67% of buyers

1. Look for the right price

Price is the ultimate factor that determines what you can or cannot buy. Maybe looking at homes beyond your budget is fun, but it is just wasting time, and also can bother you when you realize it is not financially possible.

Set a home buying budget

You can calculate your initial budget range based on your income, advance payment amount, and existing monthly bills. When you reach the proper range you can search for homes on the market that match your price range plus other criteria.

By the time that you are ready to start your home search, you will need to receive pre-approved by the lender of the house you select. According to your income, debt, and credit history, they will approve you for a loan to a certain amount.

Even if your lender approved you to receive a large loan, you need to be sure that you will be well to do with your calculated monthly housing payment. Be sure that insurance, taxes, and HOA fees (homeowners association fees) are accurate while calculating to estimate your monthly payments.

This post contains affiliate links. Please please read my Disclaimer for more information

2. Prioritize the location

Location is among the most important things to consider after the budget while buying a house. It is difficult for many buyers to find a house in their desired location. You need to ask yourself some questions to help you find a location that matches your needs, lifestyle, and budget.

  • The homes near downtown areas due to their shorter commutes have better resale value.
  • If you enjoy walking to shops and restaurants, consider looking around the town to find a house.
  • But if you want more privacy and do not mind driving, prioritize a home in a location that is off the beaten path.
  • In case you have kids or planning to have them in the future checking out the local school. If you do not have kids, still owning a house in the school district affects the future resale value.
  • Hose located in a flood zone needs additional insurance, besides that living in a flood-prone area means you should be prepared in case of an actual event.

3. Think long term

Regularly, people who own a house stay there for almost 14 years before selling. While shopping for a house does not consider just your short-term needs, so you will not have to move soon.

Consider the number of bedrooms and bathrooms. If you want to have kids, your parents stay with you, or you will have a lot of visitors, make sure the new home can accommodate your plan.

Most buyers rank outdoor space as very important. In case you need a safe place for your kids to play, you have a dog, or you have the desire to gardening then look for a house with outdoor space.

You want to improve your lifestyle in your new home. Think about what things do you wish were different. Consider your hobbies and what makes you happy. You need a nice yard if you enjoy spending time outdoors. You need a big kitchen if you love cooking.

4. Estimate property condition

In case you are totally new to buying a house and have no experience in hose repairing, you might consider it as an easy process. But you should know that home renovation is anything but easy. It causes the expenses to add up quickly and delay your move-in.

A move-in-ready house has been renovated recently or is new and close to new. A home with minor updates requirements may have old mechanical systems that need to be updated for energy savings, or have cosmetic issues that you probably want to replace.

A house that requires major repairs is normally cheaper because of the work that should be done. The advantage of a major renovation is the opportunity to personalize the home according to your tests.

There are some very important costly issues that you should take care of such as damaged roof, old insulation, exterior cracks, older furnace or HVAC system, plumping issues, flooding, water damage or mold, and uneven floors.

5. Do not concentrate on minor cosmetic details

Do not suspend buying a house due to its little imperfections, no house is perfect. Cosmetic changes are affordable and easy to do. If you find a house you would love without some cosmetic issues, do not allow minor problems such as paint, hardware, furnishings, and landscaping to prevent you from buying.

Conclusion

It is hard to find a house that meets every desirable criterion on your list. First, make a budget range for buying a house. Then ask yourself some critical questions about what you need and want in your new house, as well as what makes a house valuable for you. By reading this article you will learn some important issues to notice when buying a house.

“If you have any feedback about what to look for when buying a house that you have tried out or any questions about the ones that I have recommended, please leave your comments below!”

NB: The purpose of this website is to provide a general understanding of personal finance, basic financial concepts, and information. It’s not intended to advise on tax, insurance, investment, or any product and service. Since each of us has our own unique situation, you should have all the appropriate information to understand and make the right decision to fit with your needs and your financial goals. I hope that you will succeed in building your financial future.