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Home Buying

For most people buying a home is one of the biggest financial and lifestyle decisions they will ever make. This category could possibly help assist you in making an informed decision about that purchase, so before you decide to buy a home, make sure you're ready by checking out some of the answers in this category.

500 Questions

How much did an older home cost in 1974?

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Asked by Wiki User

The average cost of an older home in 1974 ranged from around $35,000 to $50,000, depending on the location and size of the property. Prices varied significantly across different regions and neighborhoods. However, it's important to note that specific costs can vary greatly depending on various factors such as the condition of the home, location, and local market dynamics.

What department directs the programs that provide assistance to the elderly?

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The Department of Health and Human Services typically oversees programs that provide assistance to the elderly, such as Medicare and Medicaid. Additionally, the Administration for Community Living within HHS focuses specifically on supporting older adults and people with disabilities.

Disadvantages of buying older home?

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Some disadvantages of buying an older home include potential maintenance and repairs due to aging systems, outdated features that may not meet modern standards or preferences, and the possibility of hidden issues such as lead paint or asbestos that may require remediation. Additionally, older homes may have higher energy costs if they are not energy-efficient compared to newer construction.

Homonym for above?

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"Overhead" is a homonym for "above." It can refer to something located above, or to costs or expenses incurred by a business.

What types of houses do they have in china?

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In China, you can find various types of housing, including traditional courtyard houses, modern high-rise apartment buildings, and suburban single-family homes. Some regions also have unique styles such as tulou dwellings in Fujian and cave dwellings in Shanxi. Housing designs can vary greatly depending on the location and cultural influences of the region.

How much does it cost to house felon in jail?

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The cost of housing a felon in jail can vary depending on the location and the individual facility. On average, it can cost between $30,000 to $60,000 per year to incarcerate one inmate. This cost includes expenses for food, housing, security, and medical care.

How much exactly does it cost to house an inmate for 5 years?

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The cost of housing an inmate for 5 years varies by location but can typically range from $150,000 to $300,000. This cost includes expenses related to food, clothing, medical care, and housing security.

What words are related to riverside?

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The words related to riverside may include: bank, shore, water's edge, waterfront.

Population in Edinburgh 2007?

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The population of Edinburgh in 2007 was approximately 486,120.

How long after your new house closes do the sellers have to move out?

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The timeframe for sellers to move out after closing depends on the negotiation in the purchase agreement. It typically ranges from a few days to a few weeks.

What is the function of a broker in the purchase of a house?

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A broker plays a crucial role in the purchase of a house, acting as an intermediary between the buyer and the seller. The primary functions of a broker in the home-buying process include:

Market Expertise:

Brokers have a deep understanding of the local real estate market, including property values, neighborhood trends, and market conditions. This expertise helps buyers make informed decisions.

Property Search:

Brokers assist buyers in identifying properties that align with their preferences, budget, and requirements. They often have access to a wide range of listings, saving buyers time and effort.

Negotiation:

Brokers are skilled negotiators who work on behalf of the buyer to secure the best possible deal. They negotiate with sellers, handle counteroffers, and strive to achieve favorable terms for the buyer.

Transaction Management:

Brokers oversee the entire purchase process, managing paperwork, deadlines, and coordination with other parties involved, such as inspectors, appraisers, and title companies.

Legal Guidance:

Brokers provide valuable legal guidance, explaining contracts, disclosures, and any legal implications associated with the home purchase. They ensure that the buyer understands and complies with all legal requirements.

Financial Advice:

Brokers offer financial insights, helping buyers understand their mortgage options, interest rates, and the overall cost of homeownership. They may connect buyers with mortgage lenders and guide them through the financing process.

Access to Resources:

Brokers have access to a network of real estate professionals, including inspectors, contractors, and attorneys. They can recommend reliable professionals to help buyers complete the necessary due diligence.

Problem Resolution:

In the event of challenges or issues during the transaction, brokers work to resolve problems efficiently. Their experience allows them to navigate potential obstacles and find solutions.

Client Advocacy:

Brokers prioritize the interests of their clients, advocating for the buyer throughout the entire process. They strive to protect the buyer's financial and legal interests.

Guidance Through Closing:

Brokers guide buyers through the closing process, ensuring all necessary documentation is in order. They facilitate a smooth closing and transfer of ownership.

Is a home equity loan considered an unsecured loan?

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Asked by Wiki User

No, a home equity loan is actually considered a secured loan. This is because it is backed by the equity in your home, which serves as collateral for the loan.

This means that if you were unable to repay the loan, the lender could potentially foreclose on your home to recoup their losses.

In contrast, an unsecured loan does not require any collateral and is based solely on the borrower's creditworthiness.

It's always important to fully understand the terms and conditions of any loan you are considering, so be sure to do your research and consult with a financial advisor if needed.

What is a Single family occupancy?

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Single family occupancy refers to a housing unit occupied by one family or household, typically consisting of parents and their children. It is a commonly used term in real estate and housing regulations to distinguish between different types of occupancy arrangements.

What is the average price of a two bedroom house in New York City?

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The average price of a two bedroom house in New York City is around $1-2 million, but prices can vary depending on the location, amenities, and other factors.

If you buy a house how long must you keep it before you can sell it?

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There is no specific time requirement to keep a house before selling it. However, short-term capital gains taxes may apply if you sell shortly after acquiring the property. Tax laws vary, so consult with a professional in your area. Ultimately, the decision to sell depends on personal circumstances and market conditions.

Is there a stigma on Modular homes?

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There is no stigma for modular homes that I know of,but a lot of people are miss informed about modular construction. Most people are confusing mobile homes with modular homes and there is a stigma about mobile homes and mobile home parks. Another confusing part is the term that is used to describe mobile homes. The term "Manufactured Housing" has been adapted by the mobile home industry to alleviate the stigma of mobile homes. Of course uninformed people bundle modular homes in this mix since modular homes are constructed in a manufacturing facility and are transported, but that is where the similarity if any ends.

Can you get a home equity loan if you own the house outright with no mortgage?

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When excavating house foundations how much more would it cost to use hydro-vacuum excavation rather than traditional hydraulic digging?

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The cost difference between using hydro-vacuum excavation and traditional hydraulic digging for house foundations can vary depending on several factors:

Project specifics:

Size and depth of the foundation: Larger and deeper foundations will generally require more time and resources, increasing the cost of both methods.

Soil conditions: Hard, rocky soil might be more challenging for hydro-vacuum, potentially pushing the cost closer to traditional methods.

Accessibility: If the excavation site is difficult to access with large machinery, hydro-vacuum's smaller footprint might be advantageous and cost-effective.

Local factors:

Availability of hydro-vacuum services: In areas with limited hydro-vacuum providers, the cost might be higher due to lower competition.

Labor costs: Different regions have varying labor rates, impacting the overall cost of both methods.

Additional considerations:

Precision and safety: While hydro-vacuum is generally more precise and minimizes the risk of damaging underground utilities, the price difference might be justified for sensitive projects.

Environmental impact: If minimizing dust and noise pollution is crucial, hydro-vacuum's eco-friendly approach might warrant the additional cost.

Estimates:

It's difficult to give a precise cost difference without specific details about your project. However, some studies suggest that hydro-vacuum can be 20-50% more expensive than traditional methods for simple excavations. However, the advantages in precision, safety, and environmental impact can sometimes offset the higher cost, especially for complex projects.

Safe-Ex, Inc. is dedicated to spearheading progress in the hydro-vacuum industry by offering inventive and secure excavation solutions in California.

You can contact them for Utility Excavation Services and quotation.

How much do modular homes cost in NJ?

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Asked by Wiki User

Modular house cost is $75/sq.ft up to $115/sq.ft. It is vary from size of the houses and predictable costs for retrofitting and remodeling work.

Why does the second mortgage holder have to approve of the first mortgage refinance?

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Asked by Wiki User

The second mortgage holder typically needs to approve the first mortgage refinance because they hold a subordinate position to the first mortgage. Refinancing the first mortgage could impact the second mortgage holder's position, so their consent is often required to make changes to the primary loan.

What is the average cost for bounce house rentals?

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The average cost for a standard bouncy house rental varies depending on where in the country (or even the state) you are located in. As a reference, the average price for a bounce house in N. Texas is $160. Again, this is for a standard square bounce house that does not offer a slide, obstacle, or interactive option.

How do you homestead in US?

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Asked by Wiki User

To homestead in the US, you can follow these steps:

  1. Research homesteading laws and regulations in the state you are interested in.
  2. Identify a suitable piece of land that meets your needs and budget.
  3. File an application with the appropriate government agency, providing necessary documentation and fulfilling requirements.
  4. If approved, complete the necessary processes to obtain the land and start your homesteading journey, which may include building a home and establishing self-sustainable living practices.

What do you call home in sanskrit?

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Asked by Wiki User

In Sanskrit, the word for home is "gṛha" (गृह). This term is commonly used to refer to a house or dwelling where one resides.

Where can you find a list of requirements for section 8 housing in Maryland?

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Asked by Wiki User

Every Housing Authority has its own list of qualifications for which a person can receive a voucher or public housing. You will need to check with the Housing Authority in that location for specific qualifications. Many of the qualifications fall under federal guidelines, while housing authorities are free to develop their own qualification criteria according to Housing Authority standards.

If you're asking this question as a landlord, the guidelines are the same across the board: the home must meet minimum housing quality standards for a decent, safe, and sanitary home. I'm not going to list those standards here but you can check with your local Housing Authority for specifics.