Jan 31, 2017 | Home Buyer Tips, Uncategorized
With all of the home renovation and fixer-upper shows on television, the idea of completely renovating and re-doing an old home can seem like an enticing premise. Unfortunately, investing in the wrong fixer-upper can mean an awful lot of expenditure without the added financial rewards. Whether you’re considering investing down the road or are ready to dive in, here are a few things to consider first.
How Much Do You Want To Spend?
It’s easy to be swept away by possibility, but before making an offer you’ll need to sit down and determine exactly what you’re willing to invest into upgrades for your fixer-upper. By deciding what you would want to renovate, what the cost of materials and labor would be and how this figures into the market price of the home, you’ll be able to determine if the price you’re offering will be worth it.
Are Major Repairs Required?
It’s one thing to consider a nice paint job and new tiling in the kitchen, but if there are serious issues with the home, it can create huge financial issues to put money into it. Because foundational issues or water damage throughout the home can be expensive items to repair and will take time and resources, fixing these issues may cost more than the money you’ll make. If you’re uncertain about what you’re getting into, it may be a wise decision to bypass the investment all together.
Are You Willing To Work?
Most home fixer-uppers that people buy can be financially lucrative because the buyer is interested in doing a lot of the work themselves. However, if you’re thinking of hiring people to do the work for you, this can end up costing a lot more money and eating any profits the renovations might have created. It’s also important to realize that renovations can go over budget. Instead of being idealistic about a fixer-upper, ensure you’re certain it’s what you really want so that you’re not stuck with a home you don’t want to invest your efforts into.
The idea of digging in and getting your hands dirty with purchasing a fixer-upper may be endearing, but if you’re not truly prepared for the responsibilities it can be a drain on your time and your finances. If you’re currently considering purchasing a home in need of help in your neighborhood, contact one of our real estate professionals for more information.
Jan 12, 2017 | Home Buyer Tips, Uncategorized
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. If you’re currently considering a home, contact one of our real estate professionals for more information.
Jan 5, 2017 | Home Buyer Tips, Uncategorized
There are so many things involved in moving into a new home in a different neighborhood that it can be easy to forget about the proximity of many nearby amenities. However, if you have children, the local schools available can make-or-break the decision on whether or not to invest in a house. If you’re wondering how you can find out more about the local school, let the following tips be your guide.
Take a Web-Search To SchoolMatch.com
One of the benefits of so many things being online these days is that local schools are no exception, and SchoolMatch.com is a great resource that puts this information at your fingertips. While you’ll have to pay a fee to get the details on many public and private institutions, this resource features ratings on schools throughout the country which can make it worth the price.
Contact The NAEYC
With a wealth of information on preschools, kindergartens and elementary schools located throughout the country, the National Association for the Education of Young Children is another helpful website to visit. While the organization offers informational pamphlets that can help you decide a school’s benefits, you can also call in if you want to speak with someone directly about a particular institution.
Make A Visit To The Neighborhood
While it can take a lot of time to visit the schools in the neighborhood you’re considering, this is a great way for you to get a sense of the area you’re moving to and what it affords. By taking a walk through the hallways to view the building’s upkeep and even visiting the office to talk with the Principal, you’ll be able to decide whether it’s a good fit.
Talk To An Agent
It might seem a bit strange to talk to a realtor about local schools, but real estate agents are responsible for providing a multitude of information to potential homebuyers so they have to be in the know. Whether they’re able to help you with a house or not, it’s certain they’ll have some of the basic details about your neighborhood’s educational offerings, whether it’s good or bad.
There are a variety of amenities that can improve the appeal of a new neighborhood, but good schools are a necessity when it comes to the kids.
Jan 4, 2017 | Home Buyer Tips, Uncategorized
There are a lot of things that go into the successful sale of your home, but many people are unfamiliar with the intricacies of the contract. Whether you consult with your real estate agent or plan on diving in on your own, it’s important to be clear on the terms. If you’re wondering what you can expect when it comes to the contract, here are some pointers on what to watch out for.
Real Estate Jargon
A real estate contract would not be complete without the professional terminology, so you’ll see words like amortization, price-to-income ratio and title that may impact the meaning of your contract. Instead of going it blind, search the Internet for terms or consult with your real estate agent to provide a clear explanation.
Specifics On The Sale
Information regarding the specifics of your property will be present in the contract, and it’s important to check this information before signing on the dotted line. While the address and location of your home are important, it’s also critical to verify the purchase price that has been decided upon, the closing date on the property and any other items that have been negotiated and agreed upon.
Be Aware Of Withdrawal Terms
It can be easy to be taken away by excitement once you’ve received the perfect offer on your home, but it’s important not to lose sight of everything that’s required before the sale has been finalized. One of the most important parts of the contract is the withdrawal terms that are laid out, so be certain you’re aware of what your rights are if you or the homebuyer decides to withdraw from the process.
Watch For Seller’s Responsibilities
If you, as a seller, do not remain committed to the terms of the contract this can be a deal breaker, so ensure that you’ve familiarized yourself with exactly what’s required of you. This may include everything from the maintenance on the property to offer negotiations, so it’s important to comply with these terms.
Dealing with a real estate contract can be confusing for the layman, so it’s worth your while to have a trusted real estate agent around who will be able to explain it. From withdrawal terms to seller responsibilities, there are plenty of things you should be aware of before sealing the deal. If you’re currently embarking on selling your home, you may want to contact one of our real estate professionals for more information.
Dec 27, 2016 | Home Buyer Tips, Uncategorized
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The search for a new home is difficult enough for the average person, but if you’re helping a friend or relative who has a disability, there are even more things to be aware of. If you’re not sure quite how to tackle the housing market, here are a few things to look out for so that you can be sure your friend is getting the home they’ll need.
Consider The Flooring
Hardwood can be a great benefit when it comes to clean up, but it’s also the type of surface that can make it a lot easier to slip and fall. While carpet can be a better option for this reason, hardwood is not necessarily a deal breaker if your friend wants to utilize the option of area rugs.
Handrails And Grab Bars
In all likelihood, there will not be available handrails and grabs bars located in many houses you view, but it’s important to ensure that these can be installed without incident. While the shower is one area that you will not be able to avoid this, it can be quite expensive to replace so this may serve as a deal breaker.
Look Out For Levers
It may sound like a strange detail, but doors knobs can be inaccessible for many people so it’s important to check out the handles throughout the house. Lever handles are a relatively easy install, but the costs can stack up in a home with a lot of doors, so it may be best to choose a home that already contains the levered option.
With A Wheelchair
While there are many things that can assist the disabled in a home, there are a lot more things required if your friend uses a wheelchair. In addition to having walk-in closets that are accessible, it’s also important that the home features wide doors and hallways, open areas and wheelchair access to all entrances, if possible. Many of these items may not be present, but the ability should exist to have them added in if they’re required.
When helping a disabled friend search for a new home, there are a variety of things you’ll need to look for, from handheld bars and grips to lever door handles that will make their life easier. If you know someone who’s currently in the market for a home, contact your trusted real estate professional for more information.
