#LinePlans | Explore Tumblr Posts and Blogs

thelistingteammiami · 2 months

Text

What Every Homebuyer Should Know About Closing Costs

Before making the decision to buy a home, it's important to plan for all the costs you’ll be responsible for. While you're busy saving for the down payment, don't forget you’ll want to prep for closing costs too.

Here’s some helpful information on what those costs are and how much you should budget for them.

What Are Closing Costs?

A recent article from Bankrate explains:

“Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .”

Simply put, your closing costs are the additional fees and payments you have to make at closing. According to Freddie Mac, while they can vary by location and situation, closing costs typically include:

Government recording costs

Appraisal fees

Credit report fees

Lender origination fees

Title services

Tax service fees

Survey fees

Attorney fees

Underwriting Fees

How Much Are Closing Costs?

According to the same Freddie Mac article mentioned above, they’re typically between 2% and 5% of the total purchase price of your home. With that in mind, here’s how you can get an idea of what you’ll need to budget.

Let’s say you find a home you want to purchase at today’s median price of $384,500. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,690 and $19,225.

But keep in mind, if you’re in the market for a home above or below this price range, your closing costs will be higher or lower.

Make Sure You’re Prepared To Close

Freddie Mac provides great advice for homebuyers, saying:

“As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

The best way to do that is by partnering with a team of trusted real estate professionals. That gives you a group of experts to help you understand how much you’ll need to save and what you’ll want to be prepped for. It also means you have go-to resources for any questions that pop up along the way.

Bottom Line

Planning for the fees and payments you'll need to cover when you're closing on your home is important. Partnering with a local real estate professional can give you the guidance and confidence you need throughout the process.

0 notes

planswellcorp · 2 years

Text

Why Is Personal Financial Management Crucial?

No one is too young or too old to manage their finances properly. We can all become adept at personal financial management and put our money to work for us.

Understand Money Better

If you are unable to understand your finances, you may struggle to achieve big goals. For example, if the bulk of your money is going to debt payments (such as credit card bills), you won’t have anything leftover to save or invest. You’re living outside your means.

Organize Your Saving and Spending

Think deeply about ways to save money and organize spending. After paying essential bills such as mortgage, debt, and other living expenses, you should save a portion of your income monthly. If you are struggling to save, get help from a financial planning company. The professionals at these companies know tricks of the trade to reach financial stability.

Establishing Clear Financial Goals

From assessing priorities to sticking to a budget, personal financial management requires effort. It helps to establish clear and realistic financial goals so you don't have to compromise on necessities. Take baby steps if you have to, but keep your eye on the prize. You will see the difference in your spending habits and savings in no time.

The Bottom Line

Plan your finances and devise ways to use your money better. Planswell has a free financial planning tool to get you started. The money saved and invested today will provide the benefits you need tomorrow.

Happy Planning!

#Personal Financial Planning #Financial Advisor #Financial Services

0 notes

boplangroup-blog · 7 years

Text

Keep forklift trucks and pedestrians separate (infographic)

Avoid work accidents involving forklift trucks and other heavy vehicles in the workplace

We cannot repeat this enough! There are still too many accidents at work involving pedestrians being crushed under or between vehicle(s). Such accidents are horrible and can have catastrophic consequences: serious injuries with long-term disability, invalidity or, at worst, even a fatality as a result. Personal suffering cannot be offset by compensation. But the material damage to the employer cannot be underestimated either. The production process is delayed or perhaps even shut down. There will be time-consuming labour inspections, a lot of time loss, the company suffers from serious image damage and the costs are considerable.

Boplan, a total solution for more safety in the workplace

With its robust and physical security products that demarcate the traffic zones from the pedestrian areas on your sites, Boplan helps you to avoid crushing accidents with forklift trucks. Along with our robust fall protection, floor marking and various non-slip solutions, we can offer a total solution for more safety in the workplace. Thanks to our years of experience in various industries, we are able to continuously expand our range of safety products. An overview …

AXES GATE – Industrial safety gates and fall protection safety products

The industrial safety gates, the AXES GATE series, were the first Boplan products and which have now been perfected to the smallest detail. They are very easy to install and are maintenance free once installed. The feedback Boplan has collated over the years from various industries has been included in further development and perfection of the system. AXES GATE is just one of the many innovations within the total safety solutions package proposed by Boplan for more safety at work.

FLEX IMPACT – Modular and highly shock-absorbing collision protection

FLEX IMPACT® has an extensive modular array of safety systems that are specifically designed to create a safe working environment in an economically responsible manner. Those who follow safety at work will do their utmost to ensure optimal protection of personnel, equipment, goods, buildings and infrastructure. FLEX IMPACT® security systems are specially designed from flexible polymer, which is extremely impact-resistant, flexible and shock-absorbing. All our safety systems have been extensively tested over a long period of time in order to meet the strictest safety standards. During any kind of impact from a collision, the material simply bends flexibly and then returns to its original form. . The unique thing is that our safety systems fully retain both their look and their characteristics. FLEX IMPACT® has a modular design so that the individual elements can easily be inserted. If necessary, each element can be replaced individually. This approach allows us to offer a durable safety product with a significant impact on cost-reduction.

XTRA GRIP – Durable anti-slip solutions for the prevention of slips and falls.

With XTRA GRIP, we offer various anti-slip solutions preventing falls and slips in the workplace and in public buildings. Falls by slipping is still the second leading cause of all accidents in the workplace or in public spaces and buildings. The consequences can range from fear and shame to fractures and serious injuries. Anti-slip stairs and floors are still the most effective form of prevention. XTRA GRIP consists of a series of technological solutions to limit as much as possible the risk of slipping in different risk situations. In our range of anti-slip materials, you will certainly find the most appropriate anti-slip solutions for steps, ladders, landings, walkways, platforms, gangways, work platforms, access ramps, industrial floors and many other slip risk environments. All our XTRA GRIP solutions feature a tread consisting of several layers of rigid plastic with durable moulded anti-slip aggregate that will not come loose from regular traffic. Even in a wet state, the aggregate retains its safe, reliable, anti-slip effect. XTRA GRIP stands for a durable, impact-resistant and maintenance-free anti-slip tread that makes any kind of fall due to slipping impossible.

#safety barriers #fleximpact #xtragrip #lineplan #axesgate #boplan #forklift #accidents

0 notes

thelistingteammiami · 4 months

Text

Home Equity Can Be a Game Changer When You Sell

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier. An article from Bankrate explains:

“Home equity is the difference between your home's value and the amount you still owe on your mortgage. It represents the paid-off portion of your home.

You'll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You'll also build equity over time as your home's value increases.”

Think of equity as a simple math equation. It's the value of your home now minus what you owe on your mortgage. And guess what? Recently, your equity has probably grown more than you think.

In the past few years, home prices skyrocketed, which means your home's value – and your equity – likely shot up, too. So, you may have more equity than you realize.

How To Make the Most of Your Home Equity Right Now

If you're thinking about moving, the equity you have in your home could be a big help. According to CoreLogic:

“. . . the average U.S. homeowner with a mortgage still has more than $300,000 in equity . . .”

Clearly, homeowners have a lot of equity right now. And the latest data from the Census and ATTOM shows over two-thirds of homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity (shown in blue in the chart below):

That means roughly 70% have a tremendous amount of equity right now.

After you sell your house, you can use your equity to help you buy your next home. Here’s how:

Be an all-cash buyer: If you’ve been living in your current home for a long time, you might have enough equity to buy your next home without having to take out a loan. If that’s the case, you won’t need to borrow any money or worry about mortgage rates. Investopedia states:

“You may want to pay cash for your home if you're shopping in a competitive housing market, or if you'd like to save money on mortgage interest. It could help you close a deal and beat out other buyers.”

Make a larger down payment: Your equity could also be used toward your next down payment. It might even be enough to let you put a larger amount down, so you won’t have to borrow as much money. The Mortgage Reports explains:

“Borrowers who put down more money typically receive better interest rates from lenders. This is due to the fact that a larger down payment lowers the lender’s risk because the borrower has more equity in the home from the beginning.”

The Easy Way To Find Out How Much Equity You Have

To find out how much equity you have in your home, ask a real estate agent you trust for a Professional Equity Assessment Report (PEAR).

Bottom Line

Planning a move? Your home equity can really help you out. Let’s connect to see how much equity you have and how it can help with your next home.

0 notes