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    How Much Do You Really Need for a Down Payment?

    Last updated 1 day 7 hours ago

    The housing market is always changing, so if you are not keeping up with the trends, you may quickly become misinformed. Fortunately, this sometimes leaves you with a pleasant surprise. Read on to find out how much you really need for a down payment.

    It is typical for consumers to be intimidated by the prospect of a down payment on a home, but this could be because they are overestimating the amount of money they would need to pay. Many individuals are under the impression that they would need to provide a down payment of at least 11 percent to be approved for a loan, while many others believe that they would need 15 percent. The truth is that it is possible to qualify for a mortgage with much less money. In fact, it is possible to qualify with a down payment of 3 to 5 percent.

    If you are looking to move into the Suffolk, Nassau, or Queens areas, utilize the services of Multiple Listing Service of LI, Inc. We are a network that specializes in open houses, commercial real estate, and rental properties. If you would like to know more about us, please visit our website.

    Rent or Buy: How to Decide Which Is Right for You

    Last updated 8 days ago

    It is not objectively better to rent an apartment or to buy a house; the correct decision depends entirely upon your individual situation. There are many factors that may make buying a house more appropriate than renting, or vice versa. Keep reading to find out how to decide whether renting or buying is right for you.

    Freedom

    People refer to buying a house and starting a family as “settling down” because these responsibilities tend to have you locked in to one place for a long time. Selling a house can be a difficult process, so your ability to pick up and move on a whim is diminished. Renters, however, are free to go wherever they want at the end of their leases with no questions asked. If you tend to be indecisive or you simply want to keep seeing new places, renting is clearly the better option for your lifestyle.

    Price

    If you are buying a house, you should have a stable income that can allow you to make your mortgage payments consistently over a period of many years. Renters, on the other hand, enjoy the ability to move to different locations with different prices after the expiration of their leases. In this case, renters are more prepared to change according to their financial standing. Additionally, renting tends to be cheaper than buying a home; homeowners endure steep costs for things like maintenance and repairs. However, renters are vulnerable to inflated rent payments.

    Satisfaction

    One of the biggest advantages of owning your own home is the satisfaction of being able to do whatever you want. You will not have to ask your landlord for permission to do anything, and you can customize your place to truly represent yourself. You will also not have to worry about your landlord choosing not to renew your lease.

    Whether you are looking to rent or buy property, contact Multiple Listing Service of LI, Inc. We provide real estate services in Nassau, Suffolk, and Queens counties. If you are looking for an open house on Long Island, feel free to visit our website and find out what we can do for you today.

    Great Tips for Selling Your House

    Last updated 13 days ago

    When you sell your house, it is important to take steps to ensure that you get the price that you deserve. Watch this video to get tips for selling your house from Shark Tank’s Barbara Corcoran.

    The first impression of your house is extremely important. Draw attention to the positive aspects of your front yard like large trees, and make sure that poorly maintained shrubs do not cover your windows. Make sure your front door is in pristine condition; as the entryway to the house, this is important for first impressions. Also remember that clean rooms always look bigger.

    If you are planning on selling your house in the Long Island area, contact Multiple Listing Service of LI, Inc. We are a real estate network geared towards assisting homeowners, sellers, and real estate brokers. Feel free to visit our website to find out more about our services.

    Signs It's Time to Hunt for a Bigger House

    Last updated 19 days ago

    Buying a bigger house is a significant step to take in your life, and there are many aspects to consider. Here are a few signs that it’s time to hunt for a bigger house.

    You Need More Space

    The first sign that you need a bigger house is that you are running out of room to put things in the one you live in now. Clutter is one thing, but if you have no room for valuable belongings or items that you cherish, it may be time to move into a house that offers more space. This does not only apply to material items. If you get married or have children, you will probably need extra room for everyone to live comfortably. This is also true if you adopt a pet, especially if it is a large breed of dog; all dogs need room to play and exercise, and large dogs that are confined to tight spaces will get rowdy and anxious.

    You Can Afford It

    If you want to move into a bigger house, it will typically cost you more money. Not only will the house itself be more expensive, but you will probably spend substantially more on things like cleaning and maintenance as well in a bigger home. If you are struggling to make your mortgage payments in your current home, you should not be thinking about upgrading to a bigger one. It is important to have good credit and minimal debts and liabilities.

    The Time Is Right

    The market is always changing, and the value of any given house can fluctuate. It helps to buy when mortgages are cheap, although you will not get as much money from the sale of your own house when real estate is cheap.

    If you are ready to move to a bigger house, talk to the professionals at Multiple Listing Service of LI, Inc. We are a real estate network that can help you find the perfect open house on Long Island. We provide our services in both Nassau and Suffolk, as well as Queens. Find out more about us by visiting our website.

    How MLSLI Can Help You Learn About Your Potential New Neighborhood

    Last updated 29 days ago

    There are many things that you should know about your potential new neighborhood, and you should look into them before you make your move. Fortunately, there are ways of finding out all kinds of things about a new area before moving. Read on to find out how MLSLI can help you learn about your potential new neighborhood.

    MLSLI’s community information resources provide valuable information about the schools, homes, and people in your potential new neighborhood. You can find out the value of local homes as well as their appreciation, statistics regarding rental costs, and the changes in costs over time. You can also learn about demographics such as population, age, and income in your new area. If you are a parent, you will want to use this tool to learn about local schools and colleges as well. You can even learn about commuting times, local air quality, and crime rates.

    Multiple Listing Service of LI, Inc. is a network of real estate services that serves Nassau, Suffolk, and Queens. We can help you find rental properties and commercial real estate in the Long Island area. For more information about what we do, please do not hesitate to visit our website.

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