Daily Archives: August 20, 2008

Reality: Your mortgage payment is just the beginning. The “hidden costs” of ownership can add up to thousands of dollars a year. Few prospective owners truly appreciate how expensive annual maintenance on a house can be. A Wall Street Journal commissioned study concluded that “almost every house, no matter how recently or expertly built, is [...]

Reality: For the first five years of ownership, you are simply giving away money to the bank. During the first five years, more than 80% of your monthly mortgage payment is interest. And nearly one third of all homeowners move within five years, before they start building any real equity. Add in the money they [...]

Reality: A majority of owners reap no annual tax benefits from owning a house. The biggest homeownership myth in the country is that owning a house is a huge tax break. If your mortgage interest and other qualifying expenses aren’t more than the standard deduction ($9,500 for joint filers, $4,750 for singles in 2003), there [...]

(Republished here with the permission of the National Multi Housing Council) Rent vs. Buy “You need to buy a house.” How many times have you heard that? Turns out that could be bad advice. Here’s why: Every year, thousands of Americans jump into homeownership for the wrong reason, usually pressure from friends or family. It [...]

Having bad credit will not necessarily preclude you from finding apartments for rent. Indeed, it is helpful having a good credit score or an impeccable credit report, as some landlords will request to view your credit history so that they can be sure you plan on paying your apartment’s rent in a timely fashion.

Getting Ready to Walk Through your Apartment Getting your security deposit back is crucial, since you’ll have to put down a deposit when you move into a new apartment. If you are not careful, you could lose hundreds of dollars if you are charged for cleaning and repairs that you could easily do yourself. In [...]

Making your Budget Once you have your list of desired location and amenities, it is now time to find an apartment based on your budget. If you have not already closely examined and organized your budget, moving can be a good opportunity to apply some basic rules and maximize your paycheck. Make sure you can [...]

Section 8 Housing Finding low income housing can be a difficult task. It is necessary that you have as much information as possible. This article will tell you a little bit about the program, how it works, if you are eligible for section 8 housing, how to apply and where to find more information on [...]

Well, there was much excitement at MyNewPlace this week. Not only did we announce yesterday that we had become the 16th largest real estate site, but our favorite show, MTV’s The Hills, is back on the air. It is not so much that we enjoy viewing panoramic shots of the general Los Angeles area, punctuated [...]