Nov 10, 2021 | Home Buyer Tips
Starter homes are incredibly popular for young couples who plan to have a family in the future but don’t need a large place yet.
Life moves pretty fast sometimes and many couples find themselves expecting children before they have begun to look for the next home. This shouldn’t be a problem, as moving into a larger home before the baby arrives can be a lot easier than it appears.
Always Move Before The Baby Is Born
There is a choice when upgrading a home for children: moving beforehand and settling down in advance of having kids or waiting until after having the child and dealing with a move later on.
It may be tempting to wait until the stress of a pregnancy is over to move into a larger home. After all, selling and buying houses can be a tiring process for anybody, let alone expectant parents. Just remember, no matter how difficult or stressful the move is it will be one hundred times worse after having kids.
Work With A Professional To Help Coordinate The Move
There is nothing wrong with rushing through a purchase or the sale of a home, as long as everything is done correctly. A situation like this is never the right time to assume control and responsibility for every aspect of the move.
A real estate professional, once told of the situation, will know exactly how to handle everything. From preparing a current home for sale to finding a larger house in the right price range, a professional will have experience in coordinating the process.
Prepare For The Move In Stages
The best way to go about facilitating a quick move is to go in steps. Everything in the house that is not necessary to the staging should be boxed up and moved into temporary storage before the home is shown.
This is beneficial because it removes all clutter from the house and helps to make a quick sale and also allows for many personal items to be moved into the new house without having to wait for the current home’s sale to close. Instead of one gigantic move, the process can be broken down into several smaller moves to relieve some stress.
When there is a deadline on a move, you can increase your chances of selling your current home and buying a new one by using the services of a real estate professional. When things are done fast they need to be done right and a professional with experience can facilitate the entire process while making sure nothing slips through the cracks.
Oct 29, 2021 | Home Buyer Tips
The idea of an idyllic beachfront home is appealing for many people, but there are a number of factors involved in this type of home purchase that should be considered before getting serious. Whether it’s a home to live in full time, or a vacation property with investment potential, there are a number of issues to take note of. So, if you’re on the fence regarding waterfront property, here are some things you should keep in mind if beach life might be right for you.
The Ever-Shifting Shoreline
It goes without saying that the times are changing, and erosion of beachfront property is set to be a more pressing issue in the years ahead. If you’re planning on living in a house by the beach, you’ll want to research the surrounding area to ensure your investment will be sustainable over time. If significant shore erosion does occur, you could suffer a loss in regards to your most expensive asset.
In The Event Of Extreme Weather
Home insurance exists to cover you in the event of theft or fire, but if you’re planning on buying by the beach, it’s important to purchase an insurance package that will have you covered for many of nature’s calamities. Instead of leaving this to chance, double check that your home is protected against wind or water damage, as leaving this out could cost you a lot of money down the road.
Do Your Market Research
If you’re buying by the water and you’re looking to live there into the foreseeable future, it may not be necessary to do a lot of research, but if you plan on having renters it’s important to know that someone will be able to make your investment more feasible. If the market is down and people are not flocking to the beach during the months you’ll require renters, it may not be wise to invest huge amounts of money into a property.
Everybody Loves The Beach
It’s important to do research before you decide to invest in a beachfront home, but you will want to keep in mind that a home by the water will probably end up being more valuable than a home in the same town that doesn’t sit on a patch of sand. If you’ve done your research and everything looks good, this may be an investment well worth it.
Beachfront property has its own set of risks and rewards, but if you do your homework it can be an ideal investment. If you’re looking for homes in your area and are interested in waterfront property, you may want to contact your local real estate agent for more information.
Sep 24, 2021 | Home Buyer Tips
Bidding wars can be ugly, nasty things – but with the right tactics, you can come out a winner without having to double your offer. Welcome to basic training – today, you’ll learn how to navigate the obstacle course that is a real estate bidding war and come out on top. Put these three strategies to use and you’ll easily win the home of your dreams.
Offer To Pay The Deposit In Cash
It’s not usually wise to make a down payment in cash, but paying cash for the deposit is a brilliant strategy that will put you first in line for your new house. One major reason why homes don’t sell is because the buyer didn’t get approved for financing – and that inconveniences the seller. Paying your deposit it cash proves your reliability to the seller, and it means the seller gets paid faster.
Add A Personal Touch With A Letter
Want to get a completely unfair advantage over other buyers in your neighborhood? Make your offer personal by writing the sellers a heartfelt letter. Marketing professionals know that emotional experiences are highly persuasive, and a personalized hand-written letter shows that you care.
For maximum effect, do a quick Google search on the sellers and look for common threads. Do the sellers have a child in college? Talk to them about your college-aged son or daughter and what program they’re taking – it may sound cliché, but a little bit of bonding really does go a long way.
“Escalate” The Situation With An Escalation Clause
When most buyers write up their formal offer, they simply name a price and that’s it. But you can set yourself apart from other potential buyers by including an escalation clause in your offer.
An escalation clause is a piece of a real estate contract that increases your offer in the event that you get outbid. An escalation clause usually lists your original offer, the amount by which you’re willing to beat other bids if you get outbid, and the maximum amount you’re willing to offer in the event that there are multiple offers. Escalation clauses are usually best used when you know that there will be a one-day review of all offers or when you’re anticipating multiple offers – otherwise it may compromise later negotiations.
Bidding wars aren’t ideal, but they are a reality of the real estate market – especially in competitive areas where it’s the norm to see multiple offers on a house. But with these tactics, you can outgun competing bidders and come out with the house you’ve always wanted. Contact your trusted real estate professional to learn more about navigating a bidding war and making a winning offer.
Aug 12, 2021 | Home Buyer Tips
Once you’re done with debt and you’ve started to save, it’s commonly the case that you’ll start hearing about the risks and rewards of investing in stocks or real estate. Unfortunately, it can be difficult for many people to know what type of investment is going to work better for them down the road. If you’re currently considering what you should put your money into, here are some reasons you may want to turn to real estate.
It’s Something You Can See
While investing in the stock market will give you the ability to invest as little or as much as you want, a home will take a monthly payment and a down payment in order to make the deal. Fortunately, this means that you’ll be investing money every month into something that belongs to you and that you can see. A home is not only something you can invest in all the time, it will enable you to avoid putting money into rent that you’ll never get back.
Saving Money On Tax Breaks
There may be a certain amount of volatility with any market investment, but when it comes to buying a home you also have the benefit of tax breaks that are designed specifically for homeowners. In addition to the ability to deduct interest on your main residence if you’ve lived in your property for a minimum of two of the last five years, you’ll also be able to sell it tax-free. Investing in a home certainly takes savings, but there are many available tax benefits that can save money.
A Sense Of Security
Many people want to invest in a home because it offers up a piece of something that they can really own. However, another appealing aspect of having a home is that you’ll be removed from the day-to-day rumblings of the stock market. Investing can make people more than a little weary, even if they’re knowledgeable about the markets, and this can cause people to sell off and lose money when the going gets tough.
Investing in real estate and the stock market both involve some degree of financial risk, but you might not be aware that there are several added benefits of buying a home. From the tax break incentives to the sense of security, real estate can often be the better financial route to take.
Jul 28, 2021 | Home Buyer Tips
If you’re moving to a new city and you’re looking for an affordable home in a nice neighborhood, one great way to get a fantastic home without paying sky-high prices is by choosing a home in an up-and-coming neighborhood. Communities that are starting to gentrify make it easy to find an affordable home, especially if you buy before the prices start to rise.
So how can you spot a neighborhood that’s on the rise? Here’s what you need to know.
Look For Neighborhoods Popular With Artists & Young People
Young people, artists, musicians, performers, and other bohemians tend to lead the way when it comes to neighborhood revitalizations. These are the kinds of people who typically don’t have copious amounts of disposable income, so they’re looking for something affordable. But they also want to live in a hip, trendy part of town.
And as the area gains more and more creative types, it starts to take on its own creative personality. That makes it attractive to all manner of buyers, which starts driving more and more sales. So if you want to find an up-and-coming neighborhood, just follow the artists, musicians, and Gen Y buyers.
Track The Area’s Average Days On Market
One great way to find which neighborhoods are the most popular with buyers is to track the average number of days on market for properties in those neighborhoods. Your real estate agent can help you find this information. If you notice a slow decrease in days on market over time, it’s a good sign that the neighborhood is on the up and up.
Oftentimes, in an up and coming area, the days on market will decrease before prices start to rise – which will help you get a great deal.
Look Up Building Permits To See Where The Renovations Are
You can also tell if an area is up and coming if there’s a lot of renovation activity happening. Visit your municipal government office and see if you can find information on which neighborhoods are seeing more and more building and renovation permits. Lots of construction and renovation activity in an area indicates that it’s a great place to move to.
Finding a great neighborhood is critical to being satisfied with your home purchase. There are lots of things about your home that you can change, but the neighborhood isn’t one of them – so make sure you’re happy with the area before you buy. Local real estate agents are a great source of information about neighborhoods – contact a trusted real estate agent near you to learn which neighborhoods are most popular with buyers.
Jul 27, 2021 | Home Buyer Tips
If you’re entering the real estate investment market for the first time, you’re embarking on a great adventure – and with a solid plan, you can turn a tidy profit on your investment.
The key to a successful real estate investment is choosing the right property. A great property will reap dividends for years to come. Look for these three features in your next investment property and you’ll have no trouble finding one that turns a profit.
Location: More Important Than You Think
The location of your investment property will be critical in determining how much you earn on it and how long you’re able to keep tenants. And as the saying goes, you can change the color of the walls, you can change the type of flooring, and you can change the layout of the home, but you can’t change the location. So before you do anything else, make sure your new investment property is in a good location.
High cash flow investment properties tend to share certain location characteristics. They tend to be in neighborhoods with great schools and great amenities like pools, parks, movie theaters, and public transit. They also tend to be in an area with quiet, low-traffic, well-kept streets. Great neighborhoods have a low crime rate and don’t mix housing types.
Average Rent Price & Vacancy Rate: Look For Marketability
Aside from local amenities, you’ll also want to consider the average vacancy rate and rent price in your neighborhood. If you can’t cover your costs by charging the neighborhood’s average rent, then the home is a poor investment.
Keep an eye on vacancies in the neighborhood. If there are a high number of vacancies in the area, it could mean that the area’s rental market is seasonal or that renters are no longer interested in it. A low-vacancy area will allow you to charge more rent, and you’ll be more likely to find renters.
Floor Plan: Know The Trends And Buy Accordingly
There are a lot of things you can change if you don’t like your home, but the floor plan is a challenge to rearrange. That means in order to make your property competitive on the market, you’ll want to choose a property with a modern floor plan. Watch the trends and buy a home with a floor plan that’s in demand – you’ll have an easier time finding tenants.
Buying an investment property is a great choice for smart investors, but it’s important that you choose a property that will turn a profit. An experienced real estate agent can help you find a great new investment property that tenants will love. Contact your local real estate professional to learn more about qualifying investment properties.
