There are bathrooms for the theater patrons. The line for the woman bathroom extends 50 feet out the door. The men’s bathroom is a 1 minute wait. Has no one in the last 5000 years of humans building shelters, figured out that the woman’s bathroom need to be twice the size of the men’s. What human has not experienced this phenomenon? Are architects stupid? spiteful? It can’t be that hard to see this happen everywhere and figure out a simple solution. Make the women’s bathroom larger!
Don’t Sing the Second Home Blues
If you’re in the market for a vacation home, you can save yourself a ton of headaches by taking the time to understand the process and making sure you set yourself up for success. Here are a few tips and tricks if you’re in the market for a second home.
Know your financing
When it comes to buying a vacation house, there are a couple of different ways to finance the purchase. If you have a sizable savings, cash is always an option. However, if you’re going to take out a loan, you should know the types of lending products available.
A conventional mortgage may be the way to go if you have a credit score higher than 620. The higher the score, the better your rate. Typically, with a conventional loan, you will be required to put down between three percent and 20 percent, plus cover closing costs. An FHA loan requires a credit score of 580 and may allow you to come out with less cash from the get-go. However, an FHA loan is more restrictive than a conventional loan.
If you plan to build your dream vacation home, you will need to take out a construction loan, which is actually two loans in one. When you apply for a construction loan, money is drawn by your contractor directly from the bank. You usually have one year to complete the build. During this time, you’re responsible for interest, and the loan may convert to a conventional 30-year loan once the home is complete. Nerdwallet explains the different routes you can take when utilizing a construction loan.
Set a budget and stick to it
Your most important task before setting out on your journey of buying a vacation property is to determine how much you can afford. This is simply a matter of math, and requires figuring out your total gross monthly income by calculating your recurrent expenditures against your maximum allowable debt. Redfin’s home affordability calculator can crunch the numbers for you. Knowing what you can afford ahead of time will save you time and ensure you only look at properties that you can afford.
Decide on how to maintain your home
If you plan on buying your second home strictly for your personal use, there’s not really that much to consider other than property maintenance. But if you plan to use it to earn an income, or at the very least, offset your monthly mortgage, you must also consider tax implications, cleaning, supplies needed, service fees (if leasing through VRBO or similar), and additional insurance. The Washington Post can walk you through these and other expenses.
Questions to ask yourself
Before making the leap into second-home ownership, there are a few questions you should ask yourself. According to HGTV, these include:
By looking ahead and being realistic about what you can afford, you can enter your second-home search with enthusiasm. Remember, stick to a budget and answer the hard questions first.
If you have any questions you can contact Jim McKinley at Moneywithjim.org
I hope you enjoyed the post.
Happy Travels or should I say happy purchases,
We were in Africa for the first time. Egypt had been on my list for many years and I finally achieved that quest. Sixteen days allowed me the time to see everything on my list. So we are in Africa. What does one do here. Lions and tigers and bears! Ummm it is more like lions and zebras and giraffes or hippos. We set off to find a safari. We start with a red eye to Johannesberg. We picked Kruger National Park, but there are many parks to chose from. A safari is not the ten thousand dollars for a week on the savania one pictures. I find a range of prices and one to fit my budget. It is more than I usually spend for a week, but it's not bad. I upgrade to include air conditioning as the weather for the next week has heat and rain. Unknown to us, there has been a dry spell for four months. As the water dries up the animal move closer into Kruger Natiaonl Park and the water sources. The rain on the first couple days was welcome and helped with our viewing later in the week.
We picked Viva Tours as they responded quickly. It was a good choice.
Day one starts with the drive from Johannesburg to Tremisana Game Lodge. Once we were set in our room we boarded an open sided jeep for our first drive. We had a covered jeep with open sides. Some of the jeeps were not covered and the people looked miserable. It was raining and on the cool side. I had my rain jacket on. I am in the third row of seats at the back. Bouncing over the roads in search of animals has water falling from the sides and the back. The man next to me had water running down his back every bounce. Only my arm was getting wet. Sally was able to nab a middle seat more out of fear of being eaten than rain. Animal sightings we poor on our first night out, but all that would change in the next few days.
For the rest of the blog and some fantastic pictures follow the link:
At 7:30 we walked to the ferry. Motorboat offers came as expected, but we made it to the National Ferry. We were picked out on the ferry for a taxi, we told him we would see what was available once we arrived at the dock. We ended up going with him for a ride the the Valley of the Kings and Habu Temple. His ‘brother’ drove us.
The Valley of the Kings is stark. No plants grow anywhere; it is just tan dirt and rock. The tombs are fantastic. We bought Seti I and Ramses VI, and a general admission ticket for three tombs. I purchased a photography ticket. We entered the Seti Tomb first. Seti was the 13th son of Ramses. We immediately liked the tomb. Detailed carvings and colorful paint covered the walls. The ceiling is painted in bright colors of stars and gods and depictions of creatures. The tomb descended 184 meters. Each room held our attention.. Glass covers most of the carvings in the tomb. The paint is vibrant. The 1000 E£ ($55 USD) is expensive but worth the visit. I loved the winged gods over the doorways and the many boats for the ‘crossing over’. The last room reveled drawings covering the walls in preparation for the carvers and painters. It was unfinished.
For the rest or the story and great pictures visit the destination page and pick Luxor Egypt or click this link:
Do you have a travel story? Would you like others to know about this place or that lesson? Share your stories. I am writing a book about travel, locations and people around the world. It contains stories about my travel and what I learned along the way. I want your stories.
I write about why you should travel and what to bring. I write on how to travel, plan a stay, tours, cameras, camping or anything else that comes to mind. I want to hear your story. Here is your chance. Send me your favorite place or your travel nightmare. Send me the perfect honeymoon spot or the worst rainstorm you ever experienced and how you made it through. Did you hiking Kilimanjaro or meet a raccoon in the backyard? Let the world know about it. Send me your story. If I publish it in my new book I will give you a $200 gift card of your choice and mention your blog, Instagram, or Twitter account. You’ll be famous!
You can look at my blog at Travelhaunt.com. You can reach me at Brad@travelhaunt.com. Send me a great story. We all have them. Difficult, funny, sad, amazing, and challenging stories each teach us about ourselves, others and the excitement of travel. Tell me your story.
The Rules of Travel by Brad Ijams – coming to you Winter 2018
My name is Brad and I am a