The Philadelphia Caller
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PHILADELPHIA - A recent study from Remodeling Magazine has found that the national average cost of a minor kitchen renovation is $13,468. This includes materials, labor, and lighting and plumbing fixtures. A kitchen remodel is a big project, so be sure to budget for it accordingly. In addition, there are some trends you may want to avoid. Read on to learn about the kitchen trends of 2023 and how to keep your renovation costs under control.
PHILADELPHIA - In most cases, closing costs are not included in the loan balance. However, there are situations where your lender provides you with credit to help you cover these costs. Depending on the circumstances, your lender may either increase the amount of your loan or charge you a higher interest rate to cover the costs.
PHILADELPHIA - Investing in real estate requires a lot of time. At the very least, you need to spend 10 hours a week, but in order to succeed, you should spend 20 to 30 hours a week. This is because the more time you put into the business, the more successful you will be. You should set aside specific times during the week to work on real estate and treat it as a priority.
PHILADELPHIA - Depending on where you live, the cost of home building will vary. A small, simple house can be built for a low cost, while a large home with architectural flourishes will cost more. Choosing the right type of home will also affect the cost of construction.
PHILADELPHIA - Sometimes, a landlord can charge the tenant for carpet replacement. These expenses are related to the condition of the carpet. Ripped or torn carpets can pose health hazards. Before you move in, document any potential issues. Otherwise, you may have to pay for the whole replacement.
PHILADELPHIA - Real estate purchases are generally funded with a portion of the purchaser's savings. However, the buyer's savings only make up a small percentage of the total purchase price. Therefore, he or she must be aware of all the available sources of funds. Generally, there are four common sources of real estate financing. These are primary sources, secondary sources, financial middlemen, and the secondary mortgage market.
PHILADELPHIA - Considering a bathroom remodel, you need to know the costs involved. You can choose to do it yourself or hire a contractor, and do-it-yourself bathroom remodeling can cost about half the price of a professional bathroom remodel. Consider installing waterproof SPC flooring or prefabricated shower walls to keep your budget low. When choosing a shower enclosure, make sure to keep the layout of the bathroom in mind, too.
PHILADELPHIA - Before you buy a duplex, make sure to know your options. For example, you can rent half the unit to help cover the mortgage payments. This could be a good option for investors who are pressed for cash. You may also consider a VA or FHA loan to finance the purchase.
PHILADELPHIA - If you're wondering how to sell a rental property without paying taxes, you can take a few steps. The process is similar to selling a regular house. The first step is notifying your tenants of the sale, so that they can move out. The notice should be written so that both parties are on the same page. The second step is ensuring your property is in good condition to maximize your profit.
PHILADELPHIA - Investing in out-of-state rental property can be a great way to maximize your ROI. However, there are several factors to consider before investing. These include Location, Cash flow, and Down payment. Before buying an out-of-state rental property, make sure you have the budget for a down payment.
PHILADELPHIA - Adjusting your basis in a rental property can lower the tax you owe when you sell it. For example, if you bought your rental property for $120,000, plus $3,000 for legal fees and $10,000 for capital improvements and financed it for ten years, and you built a fence on your neighbor's property, your basis will be reduced to $134,400. You'll pay $13,000 in taxes, not including additional taxes collected by the state.
PHILADELPHIA - There are several ways for investors to make money renting houses. These include tax deductions, wholesaling, and long-term rentals. Lending money to real estate investors is also an option, but it requires industry knowledge. Read on to learn more about these options.
