Month: November 2018

How to Get the Best Deal When Viewing a House: 10 Things to Check

Buying a house is a big milestone in anyone’s life and you must not take it lightly. A lot goes into ensuring that the property is problem free and suitable for your household. Here are a few things that you must check before purchasing a house:

  1. Browse online to know more about the property and the local neighborhood. Check to see that basic amenities like grocery stores, school and hospitals are close by.
  2. Ask the agent why the seller is selling and what is the property price in the area and how quickly properties get sold there.
  3. Compare the price quoted by your agent to the price of similar properties listed on property sites.
  4. Visit the house at different times of the day to find out about the lighting and how busy or deserted the neighborhood is.
  5. Check out the exterior of the house and the roof. If in doubt seek the services of roof consultants and engineers to ensure there are no leaks and the structure is strong and foundation solid.
  6. Check the wiring, the condition of the switches, lights, air-conditioning, water heaters, and other electric appliances if they are included in the house. Determine if you need to spend any on repairing any of them and if it is worth it.
  7. Make sure all the water pipes, gutters, under the kitchen sink, in the bathroom and plumbing, in general, is in order and there is nothing to mend and repair and if it is where you are aware of the problem.
  8. Check the signal strength in the house by switching on your phone. Ask the seller which network they use and what is the strength of the network in case of the poor
  9. Measure the rooms and the living area to find out if your current furniture will fit.
  10. Find out how long the property has been on the market and how many viewing the house has received.

Categories: Real Estate

The Difference Between a Personal Loan and Line of Credit

Everyone has heard the term loan. Many are familiar with personal loans. How many know what a line of credit is? How many know how personal loans and line of credit are different from one another?

Personal Loan

This is an unsecured loan that has no limitations on borrowings. The minimum or the maximum amount depends on the lender. The interest rates are based on the amount borrowed and the time for which it is borrowed. Also, if one forecloses the loan before the deadline, they need not pay the interest for rest of the loan term agreed upon initially.

Line Of Credit

A line of credit is similar to a credit card. A credit card is where one swipes the card as and when they want credit and repays the amount borrowed, with interest over a period of time as per the agreement. One can find a number of options on

In a line of credit, the borrower issues a check for the amount required. One needs to pay only if the credit is used and only the amount used. Once the borrowed amount is returned with interest they are eligible to borrow for the full limit again.

The Difference

Both don’t have a minimum amount. However, with a personal loan, you need to mention the amount required and it is given upfront. In a line of credit, one need not intimate the amount beforehand. They can borrow any amount within the maximum limit, as and when they want. This gives more flexibility for those who want to have some credit handy in case of some unforeseen financial requirements. They need not use it or pay for it if not used.

For Ex: If a person needs to pay rent but is in a financial crisis, they can go out and get either of the loans immediately. With a personal loan, they need to mention in the agreement, the amount required. They can pay the rent only after the amount is credited into their account. With a line of credit, the person already has the credit provision in hand and can just write out a check for the concerned amount and be done with it.…

Categories: Finance