There has always been a great deal of controversy over the subject of renting vs buying property. And while I used to be deep in the “own property all the time” camp, I shifted my own positio...
If you are considering doing a big home improvement job think very carefully before signing on. Besides the huge financial costs, remodeling can wreak havoc on your life and turn it upside down. ...
The best way to finance a home improvement project is not to do one. That’s because the cost of these jobs almost always outstrips the value they add to the resale price of your home. And if th...
https://wealthpilgrim.com/how-to-finance-a-home-improvement-project/
If you own property you have to think about how you’re going to pass that property on after you pass away. Some people use living trusts to do that. I for one think it’s often the way to go. ...
Even though interest rates are still pretty low, it remains a huge challenge for kids to buy a home these days. The biggest obstacle is the down payment of course. So what do you do if your child...
https://wealthpilgrim.com/should-you-help-your-kids-buy-a-home/
Downsizing your residence opens up lots of financial possibilities. It’s a smart alternative to consider. This is true for retired people of course but it’s also true for working stiffs like ...
Using home equity to provide retirement income can be a brilliant move. There are a number of ways to do this. Taking out a reverse mortgage is one option of course. But is it a good one? And hav...
https://wealthpilgrim.com/do-new-laws-make-reverse-mortgages-safe/
Typically banks charge higher interest when you buy a second home. I can’t think of any good reason for this – other than they can get away with it. But you don’t have to play this game...
https://wealthpilgrim.com/mortgages-for-second-homes-the-easy-way/
Interest-only rate mortgages might be especially tempting if you are struggling with cash flow or if you only plan on staying in your home for a short time before selling it. But if you plan on...
If you have a mortgage, it’s almost certainly the biggest debt you carry. That being the case, it makes sense to examine that debt and look for ways to reduce the cost. Smart Pilgrim. The t...