Sep 17, 2021 | Mortgage, Real Estate Tips
Those who are taking out a loan for a home will probably be required by the lender to purchase home insurance. Even those who don’t need a loan will still need to make sure that they protect their property accordingly with a comprehensive home insurance policy. This is important for making sure homeowners have the money to replace their belongings and repair their property in the event of a disaster. At the same time, homeowners do not want to spend more than they must for a home insurance policy.
How can homeowners find the right home insurance policy to protect themselves?
Think About The Disasters In The Area
First, homeowners need to make sure the home insurance policy protects them against the right risks. If homeowners live in an area that is prone to floods or earthquakes, they need to find a policy that will protect them against these risks. If homeowners live in an area that gets a lot of hurricanes, they should make sure their home insurance policy protects them against hurricane damages. Not all policies include these as standard coverage, so homeowners should make sure they do not have to purchase a rider.
Make Sure There Is Money To Rebuild Your Home
Remember that the cost to rebuild a home could be more or less than the original purchase price. Lenders will want to make sure that all homeowners have a policy that gives them enough money to rebuild. Otherwise, the lender might not finance the mortgage. The local construction costs and the square footage of the structure will all play a role in the cost to rebuild. It might be prudent to work with a real estate agent to estimate this cost. The type of exterior, the style of the house, the number of bedrooms and bathrooms, and other properties on the premises will all play a role in the cost to rebuild a home.
Other Factors To Consider
Homeowners also need to think about whether their home is up to code. When the home is rebuilt, it needs to match new codes, which could increase the price. Homeowners also need to make sure their home insurance policy will cover valuable belongings in the home as well, such as furniture and electronics.
Sep 10, 2021 | Real Estate Tips
Homeowners need to make sure they maximize every square foot of their home. This includes the closet. Many people get frustrated when they look at their closets because they feel like they cannot find what they are looking for. Anyone who is struggling to keep their closet organizers should take a look at a few important points below.
Remove Items That Are No Longer Being Used
The first step in creating more space in a closet is getting rid of items that are no longer being used. First, take a look at all the items on the hangers. Then, see if it has been worn during the past year. If not, it is time to get rid of it. In addition, it might be helpful to remove clothing items that are not in season. Then, store them until the weather changes again. Creating more space in the closet can make it easier to keep the closet organized.
Check The Quality Of The Hangers
Next, take a look at the hangers. It is critical to use the right hangers because the wrong hangers could damage the clothes. Even though it is tempting to keep clothes on hangers that came from the store, they could stretch the clothes out over time, ruining the appearance. Try to use hangers that have pads on them. These softer hangers will not leave impressions on the clothes, extending their lifespan.
Create More Storage In The Closet
Finally, remember that not everything has to go on a hanger. There are some items that can be folded or tucked away in drawers. That is why it might be helpful to invest in alternative storage options in the closet. This could include cubbies that hang from the bottom of the shelf. Or, it might be nice to install drawers at the bottom of the closet. This could be another way to create more storage space and keep the closet organized.
Improve Closet Organization
Ultimately, there are plenty of ways to keep a closet organized. By removing items that are not being used and increasing storage space in the closet, it might be easier to find what is needed. This is a great way to keep the closet clean.
Sep 9, 2021 | Real Estate Tips
There are different methods that home buyers may use to find a real estate agent to work with. While some may use the services of a real estate agent who they know personally, others may reach out to a professional who they have located online. Regardless of whether you previously knew the individual in a non-professional setting or not, it is important that you check your agent’s reference and testimonials before you get started with the home buying process. There are several good reasons for this.
The Importance Of Accessibility
Whether you are trying to find the perfect property and submit an offer before anyone else or you are actively negotiating with a seller, you need your real estate agent to be accessible to you. Simply because you are friends with the agent or they were friendly to you with the first phone call does not mean that they will continue to be accessible to you until you close on the home. References and testimonials can give you more information about this.
Professional Demeanor Throughout The Process
The right real estate agent is one who remains cool and composed throughout the transaction with all parties. Negotiations can become heated at times, and you want your real estate agent to have a professional demeanor under pressure. References and testimonials can give you first-hand insight about the agent’s demeanor.
Skilled With Negotiations
It is not enough to have a real estate agent represent you in negotiations. You also want the real estate agent to have some skills and a track record for success. You may not get everything you want with negotiations because of the need to compromise, but your real estate agent should be able to structure a deal that works well for you.
An Overall Great Experience
There will inevitably be times of stress and anxiety when you are buying a new property, and it is not reasonable to expect otherwise. However, a real estate agent should be by your side to facilitate the process, to explain concepts and to help you make better decisions from start to finish. When you read reviews and testimonials, pay attention to how satisfied the clients were with the overall process.
There are many factors to consider when selecting the right real estate agent to work with. While you want to have a great interactive dynamic with your real estate agent, you also need to focus on these factors to make the best decision possible. You can begin by contacting an agent today and requesting references from the professional.
Aug 19, 2021 | Real Estate Tips
It is important to make the bathroom a relaxing, peaceful, and stress-free location. Many people view their bathrooms as a sanctuary, and it is important to treat them as such. What are a few popular trends that are taking place in bathroom design?
Customized Tiles In The Bathroom
Many people enjoy customizing the tiles they use in their bathrooms. These are commonly called affinity tiles, which are concrete tiles with creative scenes and prints on them. They come in a wide variety of colors, designs, and styles. Many homeowners like to use these types of tiles to create a bold pattern in the bathroom. They are commonly used on the floor, near the bathtub, or in the shower.
Floating Sinks And Vanities
One popular trend that is taking place is a floating vanity. This is a sink that looks like it is floating above the ground. Instead of having a pillar that connects the sink to the ground, the sink sits on a shelf. Then, the pipe is relatively short, making it difficult to spot. From a standing height, this makes it look like the sink is floating, creating a crisp, clean appearance in the bathroom.
A Natural Theme
Many homeowners are creating natural things in their bathrooms by using botanical wallpaper. The reality is that right now, bold patterns are in. During renovation projects, many homeowners are showcasing their personal styles in their bathrooms. For example, a large botanical print often includes colorful leaves and flowers. This makes it easier for homeowners to make a statement. Then, the flowers and leaves are printed on either a light or dark background, allowing the nature scene to stand out. This creates a relaxing feeling that many people love when they spend time in the bathroom.
Bring The Styles Together
Finally, homeowners should remember that these options are not mutually exclusive. There are plenty of fusion designs that can bring all of these together. That way, everyone will feel more comfortable while occupying the bathroom. Renovating a bathroom could also be a great way to add more value to the home.
Aug 5, 2021 | Real Estate Tips
Office work has changed significantly during the past few years. With many people working well from home, numerous employers are becoming open to the possibility of allowing their employees to work from home permanently. With many people looking for ways to be productive from home, it is critical to create an environment that is conducive to being productive. How can homeowners make this happen?
Make Small Changes First
It is difficult to make major changes in a small home or condo; however, there are still small changes that can be made. For example, many people use a drop-down shelf or a narrow table as a work from home desk. Then, with a task light and a monitor, it is easy to create a functional home office. It is even possible to repurpose a formal dining room table, by turning it into a home office.
Repurpose An Entire Room
Those who own larger single-family homes might be able to make bigger changes to their homes, repurposing an entire room and turning it into a home office. For example, it might be possible to turn the guest room into a home office, making it a guest room during the evening and a home office during the day. Then, homeowners might want to install a Murphy bed that can fold out and create a guest room during the evening.
Use The Attic Or Basement
It might be time to finish the attic or basement, turning that into a home office. These are usually large spaces that can be used for more than one purpose. For example, it might be possible to use this space as a home office for two people. Consider investing in great lighting to avoid creating a cave-like work environment. It is possible to turn these locations into fantastic home offices with the right tools.
Consider Building An Addition
Finally, some homeowners are also thinking about building a home office instead. It might be time to add an addition to a single-family home, particularly for those who are going to be working from home for the foreseeable future. There are plenty of remodeling projects that could create a functional, comfortable home office.
Aug 4, 2021 | Real Estate Tips
The real estate market is rife with terminology that can make a home purchase seem more than a little complicated. If you’re currently looking for a home and are considering your loan options, you may have even heard the term ‘Debt to Income’ ratio. In the interest of simplifying things, here are some insights on what this term means and how it can impact your home investment.
Determining Your ‘Debt to Income’ Ratio
It’s important to consider what exactly your DTI ratio is before your home purchase as this will quickly determine how much home you can actually afford. To calculate this number, take your monthly debt payments – including any credit card, loan and mortgage payments – and divide them by your monthly gross income to get a percentage. In the event that your monthly debt is $700 and you make $2800 in income, your DTI is 25%.
What Your DTI Means To The Bank
The DTI is a very important number when it comes to a home loan because it enables the bank to determine your financial situation. A DTI of 25% leaves some wiggle room, as most banks will allow a DTI percentage that runs between 36-43%. In the case of the above example, this means that the most debt this person could take on per month is about $1200. While banks vary on this percentage, credit history plays an important part in the DTI that will be allowed.
Paying Down Your Debt Or Purchasing A Home
In the event that you have a DTI ratio that exceeds what your bank will allow, you will need to consider your debts before moving on to investing in a home. If you’re planning on purchasing a home in the next year, it’s a good idea to tackle high-interest debt first. However, if you happen to have a chunk of money saved up that you’re planning on putting into a down payment, it’s worth considering that putting more than 20% down may slightly increase the DTI percentage your bank will accept.
There are many fancy terms that go along with the world of real estate, but it’s important to understand what they mean so you can make them work in your favor. If you’re calculating your DTI ratio and are planning a home purchase down the road, you may want to contact one of our local real estate professionals for more information.
