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The tech era is upon us and the effects are showing up everywhere — at the store, in our workplaces and now even in our homes. While tech advancements in the home have brought welcomed convenience, they've complicated the home search process.


To clear things up, we've got a list of facts and fiction about smart apartments and houses. We want to keep you in the know when you're hunting the next place you'll call home.


Fact or Fiction: Smart homes are for techies and millionaires


This one is total fiction!


In the past, smart technology was reserved for the techies and the elites. The notion might have conjured up images of Bruce Wayne's bat lair. The truth is, smart homes are becoming increasingly common.


It's estimated that smart home device sales in the U.S. will reach $4.6 billion this year. This trend indicates that smart home technology is not reserved exclusively for affluent or tech-savvy renters.


Fact or Fiction: Smart technology can actually save you money


It's true!


Skeptics of smart home technology often wonder if the claims of money saving can actually stand up to the test. The truth? Many smart devices will save you money.


Take smart thermostats for example. Some offer programming, meaning you can schedule your heating and cooling units to rest while you're away and kick back on to cool or heat your place by the time you arrive home. Other smart thermostats go as far as learning your habits and automatically adjusting to save money and energy.


Fact or Fiction: Smart devices offer less privacy


This one is not a clear cut fact or a piece of fiction — the answer is a bit more complex.


Not too long ago, it was revealed that consumer smart TVs were spying on their users. This caused worry for many consumers using smart home technology, and rightfully so.


But you're ultimately in charge of the level of privacy you choose to give up. Any device that has a camera or microphone has the potential to record your private data, and devices without this tech are generally safe. A light bulb or smart thermostat is not going to "spy" on you.


If privacy is one of your primary concerns, this is something you must be aware of. 


Fact or Fiction: Smart homes are not feasible for renters


Not true!


Smart apartments or homes are not exclusive to those who own their properties. If you thought this was true, you're probably thinking about the impact on a home's infrastructure required to install smart technology. The truth is that many consumer smart home devices today are wireless and have no physical impact on the structure of the home.


This not only means that these devices can be installed in rental properties, it means they can be taken from one rental to another. If you're looking for an apartment or house with smart technology, you can probably find one. But keep in mind, you can easily install your own smart home system in your rental.

Posted by David W. Welch on September 26th, 2018 4:44 PM

Understanding the finance methods of purchasing or selling a property may be getting complex over time but the process is however inevitable. A customer ought to know of certain requirements and terms when involved in such transactions. As you know, loan is an option many resort to when they cannot afford a property. Loans however come on certain terms and conditions and work under several policies. It is no child's play to procure a loan from the bank.

One must always be informed of the finance policies before they apply for the loan or you might end up being charged exorbitantly for the loan. The hidden costs are the ones which most trouble mankind post procuring the loan. Have you heard of Mortgage financing before? Here is what you must know of it before you apply for the loan.

Mortgage financing, as the term suggests refers to getting financed by the bank ruled by certain terms wherein you ought to mortgage an asset to the bank while you owe the money. The person is required to repay the bank in instalments and once the payment is made, the person gains legal rights on the mortgaged property.

In case of buying a new property or automobile, it is usually the car or property which remains under control of the bank till you pay back your debts, however in case of loan for personal use you may be required to mortgage an existing asset as security for the bank in case you declare yourself bankrupt and are unable to pay the debts. You need to clear off all the debts before the property gets clearance from the bank and you are made the legal owner of the property. Mortgage financing too has various types and it is extremely important for you to be aware of types of mortgage financing, the terms and conditions alongside the policies you will be governed by before you apply for a loan.

An informed decision is not just easier to make but will also save you lots of time and money. Once you know which kind of loan do you want, it is only easy for you to carry out the formalities and procure the loan in a speedy process without having to sweat it out travelling from one bank to another. Also, the type of mortgage finance applicable varies on a case to case basis so you must confirm on the rate of interest applicable on different types of finance. You must be aware of the type of loan you are required to apply for and the minute details related to the conditions under which the bank will finance your transaction. the hidden costs and details are something no bank will tell you upfront. Most companies however still offer few kinds of loans, mostly two types to make it easier for the customer to understand the process.

The two most popular types of loans that the companies offer are fixed rate mortgage finance or adjustable rate mortgage finance. Fixed rate mortgage finance can be the more preferable option since at the time of procuring the loan you get complete knowledge of the instalments you ought to pay, the interest that will be incurred and there will thereby be no worry of future changes in the amount, just in case the interest rate rises and you may have to afford a higher instalment.

Adjustable rate mortgages are mostly a gamble since in case of drop of interest rates you might be at benefit but in case the rate rise you would have to shell out extra. You will always be governed by the new interest rates and thus there may be changes in your instalment figure and you may not know the fixed amount you have to pay each month.

That said, it might be a gamble you want to make if risk is your thing. Mortgage finance is a concept easy to be understood, just made a lot more complicated for the customer to not try and figure out hidden technicalities. 

Posted by David W. Welch on April 28th, 2015 12:44 PM
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