If you’re in the market for a new home, it's likely you’ve come across properties that are part of an HOA, or homeowner’s association. An HOA is essentially an organization that makes and enforces the rules for planned communities, such as developments comprised of condominiums, town houses or single-family homes.
An increasingly popular way to grow savings for retirement and achieve financial wealth is to purchase an investment property. While some of the basic steps are the same as when you purchase your own home, there are additional things to consider when your purchase is an investment property.
You have gone through all the steps to purchase your new home, which can be a grueling process. From finding a home you love, to securing financing, to enduring inspections and negotiations, to surviving the closing… you have gone through this process pondering ways to make the home “yours”. Since it is unlikely you have purchased the perfect home, which needs no upgrades, improvements, or finishing touches, you have likely made a laundry list of tasks to tackle when you move in. But instead of jumping in and tearing things apart, take a break and wait to renovate.
You’ve decided you want to take the plunge into homeownership, but there are multiple decisions you need to make before you can really even begin your home search.