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Buying your property vs renting

Buying your property vs renting, what’s best?

Residential real estate is at some of its lowest prices in years in the US. While property for sale in Malta is at its highest ever due to the economic growth of the country and an influx of high quality employees in the financial and gaming industry.

Many people have been down-sized by their companies and have not been able to replace income at their previous levels. For this reason, there are many homeowners who are eager to sell their homes that they can no longer afford. Add to this situation many homes that are near foreclosure or that have been repossessed by banks and are ready to be sold quickly.

On the other hand, we also have some of the lowest mortgage interest rates to be seen in years. But are you really ready to buy a house? Conventional wisdom says this is a great time to buy a house and everyone who can possibly beg, borrow or steal to get into a house, should. Many people who have never before bought a house are in a fever to get into one. Know that whether or not it is right for you to buy depends entirely on your own situation. If your job is insecure, if your income has been greatly reduced or if you have other debts, then you should keep on renting.

Renting definitely has its perks! First of all, you do not have to be worried about maintenance. You do not have to worry about the costs associated with repairing the roof or the air condition failing in the middle of the night. If you ever run into financial trouble, you have the option to downsize right away.

Many people feel that if they can just get the bank to give them the mortgage money, they must be able to afford to repay their mortgage. This is not true, and subprime lending, or lending to people who really cannot afford to repay is a part of the reason for the recent high foreclosures in the U.S. This is some of the same kind of mushy thinking that causes people to collect credit cards by the dozen and run up their balances to their credit limits, because the borrower assumes wrongly that the banks must know something about the borrower’s ability to repay that the borrower does not.

So what is a healthy rule of thumb to evaluate whether you should rent or buy a house? One of America’s top financial educators, gives the following rules.

  • First, get completely out of debt, including student loans, car loans and credit cards.
  • Second, have an emergency fund so that it will not be necessary to go into debt again.
  • Third, save up for as large a down payment as you can.
  • Fourth, when you are ready to buy, be certain to get a fifteen-year fixed rate mortgage loan.
  • Finally, the monthly loan payments with taxes and insurance should not be higher than one-fourth of your take-home pay.

 

According to Sotheby’s – Malta Property For Sale.…Following these rules will get you into a house that you should be able to pay off and keep. I know it feels good to have your own home. As a matter of fact, there’s nothing like it! However, if you aren’t prepared, there is a high chance that you will end up losing your home. I strongly suggest that you prepare yourself entirely before purchasing a house. This is one of the biggest decisions in your life, make sure to do it right, or you will have to do it twice!

How to decorate your bedroom cheaply

Hello in this article I’m going to show you a few tips and ideas how to decorate your bedroom

Okay so these are 10 amazing ideas about how to decorate and spice up your room. I warn you, I went all out and transformed my room from plain boring to incredibly beautiful

You will need to paint brush masking tape, sponge applicator and a cloth.

First I decided to paint the drawers from plain white to pink, aqua blue  And since we are using paint, it is very important that you protect your working area. It is amazing how you can transform a room for such a low price.

Make sure your furniture is clean and dry. Apply primer first, let it dry for 24 hours, then apply 2 coats of the blue and pink paint. If the paint is thick, I coat will do the job. Then start drawing dots on the drawers, you can use masking tape to keep everything neat and clean.

You can also use the sponge applicator. You can then add a lot of pillows to your bed and if you are good at knitting, save some money and do them yourself. You can write your name or design something on the with wool.

Lets move on to the next idea. If you have a lot of room on your desk, we can make a cactus in a glass. Put some wet sand in the glass and pour some colored water in the sand, I like green, blue and red colors. Do not mix the colored water before pouring in some water to wet the sand first. Trust me, I tried it with dry sand and the color did not mix in evenly.  Let the sand dry and then put a cactus in the glass. It so much fun.

The third and last idea for today is creating a colorful butterfly lamp. You can buy a lamp from the internet for a few dollars. But a glue gun, then apply glue to the lamp shade and attach small colorful butterflies to the shade. There you go, this lamp did cost me about $12 dollars to make and its so beautiful.
Bedroom

Let us know if you have any questions.