Mindblown: a blog about philosophy.
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Should You Increase Insurance as NJ Home Values Rise?
Insuring homes based on replacement cost, not Real Estate value, is crucial. Historic homes may require insurance beyond market value due to reconstruction costs.
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Honoring Our Nation’s Heroes on Memorial Day.
This day honors the brave men and women who have sacrificed their lives to defend America's freedom.It became an official federal holiday in 1971. Americans observe Memorial Day by visiting cemeteries and memorials.
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New Home Buyer in NJ? This Is How Much You Need to Earn
In New Jersey, you need a salary of at least ~$152K to comfortably afford a median-priced home in 2024. This is a significant increase from $105K in 4-yr
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Homeowners insurance company asked for 93% rate hike in N.J. See the increases companies are seeking.
Homeowners are facing sticker shock as insurance companies request significant rate increases, citing inflation, higher home values, and more catastrophic events. Some companies have been granted hikes of up to 20%, with more pending requests, including one for a 36.9% increase. Consumers are advised to shop around for potential savings. Continue to full article
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Complete Guide to Mortgages: What Type of Home Loan Is Best for You?
Different types of mortgages offer unique benefits based on factors like credit score and location. Mortgages involve borrowing money to buy a home, with repayment in monthly installments. Refinancing replaces the current mortgage with a new one. Mortgage types include conventional, FHA, VA, and USDA loans, each with specific requirements and benefits. Continue to full…
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New Jersey: Navigating Rent Costs With Your Salary
Median monthly rent: $2,236 Monthly income needed: $7,453
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Avg Home Insurance Cost in New Jersey in Early-Q2
The avg cost of homeowners insurance in the US is $1,915/yr for $300K worth of dwelling coverage. New Jersey has a lower avg insurance cost of $1,150/yr, translating to $96/mo.
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Insider Tips for Home Buyers
Budget for closing costs, typically 1.5% to 2% of purchase price. Submit a deposit, usually 2% to 5% of the home's purchase price.
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Happy Mother’s Day
Mother's Day is a celebration honoring the mother of the family or individual, as well as motherhood, maternal bonds, and the influence of mothers in society. The origins of commemorating motherhood dates back to the Ancient Greeks, where in spring festival, they celebrated the goddess Rhea, considered the Mother of the Gods. Anna Jarvis’s lobbying…
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Here’s the Most You Should Spend on Your Rent or Mortgage
The cost of living, especially housing, has increased significantly. The recommended maximum percentage of income to spend on rent or mortgage is 25%. If spending more, consider moving to a cheaper area, getting a roommate, refinancing, or taking other financial steps to stay within the 25% limit. Continue to full article
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