Aug 31, 2022 | Home Buyer Tips
What Will It Cost?
If you’re going into a home expecting a few renovations costs, a minor detail here or there may not add up to much. However, if you’re not interested in spending the big bucks on making changes, you’ll want to estimate an approximate amount of how much the renovations you don’t want to live without will amount to. By including all the necessary labor and materials, you’ll be able to determine if the price-point of your offer will be worth it. Keep in mind that if there are any serious issues with the house, it may not be worth your while to consider the purchase at all.
Will Renovations Increase The Value?
In the event that you’re buying a home for its investment value, it’s going to be particularly important to consider if the renovations required will actually increase its market value. While adding another bedroom or upgrading a bathroom may not add significantly to a home’s overall price, certain more inexpensive improvements like painting, refinishing and new siding can actually add a lot to the look (and worth) of your home.
How Much Are You Willing To Take On?
It’s easy to think that you’re prepared to do the dirty work when faced with a fixer-upper, but getting down to brass tacks may not be so simple when the time comes. Before taking on a home that needs a lot of renovation, consider how much you’re willing to do so that you can determine if fixing it up will even be an economic boon after all the labor that may go into it. If you’re not a DIY kind of person, you may want to avoid a house that has a long list of repairs.
A fixer-upper can be tempting for those who want to invest or save on a home purchase, but you’ll want to carefully consider if it will be a good choice when it comes to selling time. If you’re currently perusing the market for a home, you may want to contact one of our real estate professionals for more information.
Aug 31, 2022 | Home Buyer Tips
What Will It Cost?
If you’re going into a home expecting a few renovations costs, a minor detail here or there may not add up to much. However, if you’re not interested in spending the big bucks on making changes, you’ll want to estimate an approximate amount of how much the renovations you don’t want to live without will amount to. By including all the necessary labor and materials, you’ll be able to determine if the price-point of your offer will be worth it. Keep in mind that if there are any serious issues with the house, it may not be worth your while to consider the purchase at all.
Will Renovations Increase The Value?
In the event that you’re buying a home for its investment value, it’s going to be particularly important to consider if the renovations required will actually increase its market value. While adding another bedroom or upgrading a bathroom may not add significantly to a home’s overall price, certain more inexpensive improvements like painting, refinishing and new siding can actually add a lot to the look (and worth) of your home.
How Much Are You Willing To Take On?
It’s easy to think that you’re prepared to do the dirty work when faced with a fixer-upper, but getting down to brass tacks may not be so simple when the time comes. Before taking on a home that needs a lot of renovation, consider how much you’re willing to do so that you can determine if fixing it up will even be an economic boon after all the labor that may go into it. If you’re not a DIY kind of person, you may want to avoid a house that has a long list of repairs.
A fixer-upper can be tempting for those who want to invest or save on a home purchase, but you’ll want to carefully consider if it will be a good choice when it comes to selling time. If you’re currently perusing the market for a home, you may want to contact one of our real estate professionals for more information.
Aug 10, 2022 | Home Buyer Tips
Are you thinking about buying a new home? Congratulations!
Buying a house, condo or townhouse is an exciting and rewarding time which tends to be a lot of fun. However, along the way you’ll need to make a number of decisions – including whether you want to buy a pre-owned home or one that has been built recently and is brand new.
Let’s take a quick look at some of the pros and cons of buying a new home versus buying pre-owned.
New Homes Tend To Have Fewer Problems
One of the major upsides of buying new is that newly-built homes tend to have very few problems within the first few years of ownership.
While you’ll still be required to make regular maintenance on a new home, when you buy pre-owned you’re buying a house that has seen years or decades of weather and regular wear-and-tear.
New Construction Allows For Customization
If you want to be able to customize certain aspects of your home, it might be better to buy brand new as the builder will be able to incorporate your requests as they’re building the home. Of course, you can always renovate and upgrade a pre-owned home but if you have significant needs you may find it easier to get them built into the home as it’s being developed.
The Major Downsides To Buying New: Cost And Location
While there are a number of upsides to buying new, there are some downsides that you’ll need to know.
First, new homes almost always cost more than an equivalent pre-owned home. Brand new homes are filled with new appliances, fixtures and modern building materials which add to the overall cost of the home. Unless the pre-owned home is on a larger lot or property, you’ll generally be able to save a bit when you buy pre-owned.
Depending on where you’re buying, you may also find that the location where brand new homes are being constructed is much further from the downtown or urban area. In many cities, the only available space for new construction is in suburban areas, which means that you may be in for a lengthy commute to and from work each day if you choose to buy new.
These are just a few of the factors that you’ll need to consider when buying your next dream home. For more information or to get your house hunt started, contact your local real estate agent and they’ll be happy to assist.
Aug 10, 2022 | Home Buyer Tips
Are you thinking about buying a new home? Congratulations!
Buying a house, condo or townhouse is an exciting and rewarding time which tends to be a lot of fun. However, along the way you’ll need to make a number of decisions – including whether you want to buy a pre-owned home or one that has been built recently and is brand new.
Let’s take a quick look at some of the pros and cons of buying a new home versus buying pre-owned.
New Homes Tend To Have Fewer Problems
One of the major upsides of buying new is that newly-built homes tend to have very few problems within the first few years of ownership.
While you’ll still be required to make regular maintenance on a new home, when you buy pre-owned you’re buying a house that has seen years or decades of weather and regular wear-and-tear.
New Construction Allows For Customization
If you want to be able to customize certain aspects of your home, it might be better to buy brand new as the builder will be able to incorporate your requests as they’re building the home. Of course, you can always renovate and upgrade a pre-owned home but if you have significant needs you may find it easier to get them built into the home as it’s being developed.
The Major Downsides To Buying New: Cost And Location
While there are a number of upsides to buying new, there are some downsides that you’ll need to know.
First, new homes almost always cost more than an equivalent pre-owned home. Brand new homes are filled with new appliances, fixtures and modern building materials which add to the overall cost of the home. Unless the pre-owned home is on a larger lot or property, you’ll generally be able to save a bit when you buy pre-owned.
Depending on where you’re buying, you may also find that the location where brand new homes are being constructed is much further from the downtown or urban area. In many cities, the only available space for new construction is in suburban areas, which means that you may be in for a lengthy commute to and from work each day if you choose to buy new.
These are just a few of the factors that you’ll need to consider when buying your next dream home. For more information or to get your house hunt started, contact your local real estate agent and they’ll be happy to assist.
Aug 9, 2022 | Home Buyer Tips
With the cost of rent going up across the board and becoming even less affordable in metropolitan centers, it’s never been a better time to seriously consider home ownership. While the price of a home and all the associated costs can certainly seem like a tight squeeze after years of renting, here are some reasons you may want to consider giving up your rental and springing for a home instead.
It’s An Automatic Savings
It’s a sure bet that the money you spend on rent is going down the drain as soon as the month is over, but investing your money into a home each month means that you’re actually putting it into something tangible that you can profit from later on. While there are no certainties that the price of your home will improve, there’s a good chance you’ll stand to make a bit of money in the end that will easily offset the cost of insurance and property taxes involved in buying a home.
The Insecurity Of Apartment Living
With apartments being bought up all the time and torn down to make way for new developments, it’s always a possibility that the day may come when your home won’t be your home anymore. The good thing about using your purchasing power to invest in a home is that it gives you the freedom of feeling like you really have something that belongs to you, and you probably won’t have to worry as much about your loud next door neighbors or a landlord that never completes the required maintenance on your apartment.
You Can Consider A Roommate
An apartment often means a smaller amount of space, but it’s possible that a home purchase may provide you with a little bit of extra room and a place for a renter who can help with the monthly bills. Whether you decide on a friend, relative or someone you don’t know, this can be a great way to make home purchasing a little bit more economical and still provide you with the equity you’ll need to make it a worthwhile, long term investment.
With rent becoming less affordable in so many cities, the idea of purchasing a home is becoming a more tenable reality for many people. If you’re interested in what is out there and are curious about your own possibilities for home ownership, you may want to contact one of our local real estate professionals for more information.
Aug 2, 2022 | Home Buyer Tips
You may not see the connection right away, but buying a home and planning a wedding are two experiences that require certain skills and challenge you in similar ways. Check out the three key similarities below!
1. Budget
Whether you’re buying your first home or planning a wedding, you are likely facing one of the biggest financial obligations of your life. That’s why, in both cases, it is essential that you pick a realistic budget and stay within it.
Sounds simple, but in either case it can be difficult! Unexpected obstacles may force you to spend more than you planned, or you may find yourself wanting to overspend as you find things that would be “just perfect” additions even though they don’t fit your budget. These temptations can be expected, but it’s important to remember the big picture. When it comes to your budget, pick it and stick it.
2. Details
When it comes to a home purchase or a wedding, there are countless details to consider. It’s not a simple, pre-packaged purchase, there will always be big decisions that you have to make and if you overlook something you may regret it later on.
Some decisions that you face will be similar in both experiences: Does the location work for you? Does it work for your friends and family? What is the parking situation? Is it appropriate for the climate? Will you be satisfied with your decision in the long-term?
Other details will be more unique to the situation: Do you need a cocktail hour? Do you need a walk-in closet? What style of photography would you like? Is there too much traffic noise?
Either way you’ll have lots to think about, and you’ll become acutely aware of ‘the little things.’
3. You’ve Got Style
Both your wedding and your home say something about you, they’re a reflection of your personal style. When being presented with so many choices that are particularly catered towards your personal taste, you’ll learn what you like and what you don’t. However, you’ll also learn what it is that you absolutely need, and what you’re willing to budge on.
Whether you’re choosing a wedding dress that is both gorgeous and functional for your ceremony or deciding whether or not you need an extra bedroom in your home, you’ll learn what it is that you’d want in a perfect world, and what is absolutely necessary for your current situation.
