Dec 22, 2017 | Home Buyer Tips
Are you in the market for a new house? Whether you are a first-time home buyer or are upgrading to get more space, you will need to choose between buying an existing home or building a brand new one. As you might imagine, there are pros and cons to each kind of home. But if it is in your budget, you may want to lean towards a newer home over an older one. Let’s explore three reasons why new construction homes are better than existing homes.
Customize Every Aspect To Your Tastes
Ask anyone living in a custom-built home and they are likely to tell you that the ability to customize everything was a major deciding factor. When you build a brand-new home, your input isn’t limited to the floor plan or room layout. Your family can choose everything from the paint colors to the door hinges. Imagine having your pick of appliances, cabinets, flooring, and trim in every room – that’s what new construction is all about.
Modern, Efficient And Convenient
A brand-new home means a home that is energy-efficient and built for convenience. Your home can be designed with as much advanced technology as you have in mind. Seamless Wi-Fi and other wireless connectivity for all your devices. A cutting-edge video security system to keep your family safe. Efficient heating and cooling that offers superior indoor air quality. And, of course, lower energy costs and a smaller carbon footprint.
If you are a fan of technology and the conveniences it can provide, a new construction home is a perfect choice.
Many Years of Trouble-Free Living
Another benefit of living in a new home is that everything around you far less likely to fail over the next few years. Moving into an older home means worrying about the roof, the electrical wiring, the appliances and a whole host of other potential problems. In a new construction home, you will be surrounded by brand-new machinery that is built with the future in mind. Also, even if you do run into any issues with your home or appliances, it should all be under warranty.
If you’re ready to discuss making an upgrade to a new construction home, contact us today. Our professional real estate team is happy to help.
Dec 21, 2017 | Home Buyer Tips
Did you recently receive your annual notice that the rent is going up? If so, you’re not alone. Millions of renters are seeing more and more of their income drained away due to higher rents. To make matters worse, every dollar in rent is one that you are not saving, investing or using to build your net worth. If you’re feeling the pinch of higher rents, it might be time to buy your first starter home.
Comparing Rent With A Mortgage
Have you ever done the math to understand how close your monthly rent might be to a mortgage payment? Here’s a quick and easy exercise. Multiply your monthly rent by twelve, and then multiply that number by 25. For example, if your rent is $1000 per month, that is $12,000 per year and $300,000 over 25 years. So if nothing changed from today, you could afford a $300,000 mortgage.
Homes Are More Affordable Than You Think
Many first-time home buyers are convinced that they can’t afford to enter the market, but that is not the case. There are homes available that fit almost every budget or price range. In fact, it is less important to worry about the total cost and more important to worry about location, size and local amenities like schools and parks.
Remember, when you buy a house you aren’t just locking yourself into a rental contract. You are investing in a home and property have the potential to gain in value over time.
A Few Other Considerations
Of course, there are some considerations that you will need to make as you start down the path to homeownership. The first is that your mortgage is unlikely to be your only monthly expense. You will also encounter property and other taxes, utility fees and if you buy a condominium or apartment, homeowners’ association fees. You will also be responsible for maintenance and upkeep since you own the home. But that also means that you are free to customize and renovate as you see fit.
Keep in mind that it is never too late to escape the rental trap. When you’re ready to start building your future by investing in your first home, contact us. Our experienced real estate team is happy to share beautiful local home options that will suit your needs and budget.
Dec 12, 2017 | Home Buyer Tips
Are you in the market for a new house? If so, you may be considering having a custom-home designed and built to your specifications. There is no better way to get exactly what you want in a house than to have it built from scratch.
With that in mind, let’s take a look at our quick and easy guide to finding the right builder to construct your dream home.
Have Ideas In Mind Before You Start
Try to have some ideas in mind before you contact a builder. For example, how many bedrooms do you want? Are you interested in a two-car garage? Do you want a suite in the basement or elsewhere on the property for rental purposes? What about an office, workshop, media room, home gym or other amenities? Invest a bit of time in crafting a list, and your builder can help design a home that fits.
Find A Builder Before You Buy Land
At first, meeting with and securing a home builder before having a plot of land might seem premature. After all, you still don’t even know where you want them to build your house! But, in fact, this is the best way to go. A good home builder can help you understand permit rules, city or county regulations, which utilities are available in the area and more. Once they understand precisely what you are looking for in your dream home, they will be able to make an honest assessment of any particular lot. This alone can save you a significant amount of both time and money.
Verify Licensing, References And Past Work
Once you have settled on a potential builder, it is time to start the due diligence process. Ask the builder and any sub-contractors for their license details to ensure they are certified to do the work. Try to chat with at least 1-2 past references as well so you can get an idea of what it’s like to work with them.
Get All The Details In Writing
Finally, there are few financial transactions in life that should be done on a handshake and this is no exception. Your builder is going to have a contract that they will ask you to sign. Have your attorney look this document over and have them add in any specifics that are important to you.
A new construction home can be the ultimate in comfort, convenience, and luxury. When you’re ready to learn more, contact us today.
Dec 6, 2017 | Home Mortgage Tips
Are you starting to tire of paying your monthly rent to someone and never building any equity? Renting forever can be a significant pain, especially as you’re contributing to someone else’s financial well-being. The good news is that there are affordable real estate options out there for those investing in their first home. Below we will share a few excellent reasons why an apartment or condo might be the best choice for a first-time home buyer.
A Manageable Monthly Payment
In most markets across the country, condos and apartments are available at a significantly lower cost than a full-sized house. Buying a less-expensive home means that your monthly mortgage payments will, in turn, be lower. If you are single or a young professional trying to start a family, that extra money can be a massive boost to your monthly budget.
Note that while your monthly mortgage payment may be lower, you are still responsible for other maintenance and upkeep fees. The most common is known as a homeowners’ association fee, to which all condo owners in the same development contribute. These funds are used to upkeep the building or property as well as things like landscaping, a pool or gym, and other amenities.
A Smaller Down Payment
In the same vein, buying a less-expensive home also means that you can put a smaller down payment on it when you close the sale. In many cases you are required to place a certain percentage – typically 20 percent – down to avoid having to purchase private mortgage insurance. Having to commit less in your down payment leaves more money in the bank for other purposes.
An Excellent Future Investment Property
Don’t forget that when you are ready to upgrade and move into a larger house, you can keep a condo as a rental or investment property. Once your mortgage is paid off, you are only responsible for the monthly maintenance fees and taxes. So if you can rent the condo out to a tenant, you will have an excellent source of cash flow that can help to pay for your new home or fund other activities.
The above are just a few of the many reasons why a condo can be a great starter home for first-time buyers. To learn more about your home buying options, contact us today.
Dec 5, 2017 | Home Seller Tips
Have you been thinking about listing your house or condo for sale? As you are likely aware, the seasons play a role in our local real estate market and how busy it is. Nicer weather brings out the most in any real estate market, with buyers spending their evenings and weekends touring open houses and finalizing shortlists. Many markets cool off a bit in the winter, but that does not mean that the buyers disappear.
In today’s blog post we will explore why selling your home during the winter can beat waiting for the real estate market to warm up in the spring.
Interest Rates Are On The Way Up
One key consideration this year is that interest rates are trending upward. While it is impossible to predict the movements that the Federal Reserve will make, there is every sign that rates will tick upward soon. Mortgage interest rates tend to rise along with the Federal Reserve’s upward movements, so selling now means selling while mortgages are a bit cheaper.
There Is Less Competition In The Market
Another great feature of listing your home for sale during the winter is that you are likely to face less competition from other home sellers. Fewer homes in the local inventory mean fewer options for buyers that need to close on a home quickly. If your house is clean, in top condition and adequately staged, you can rest assured that it will stand out from the other available options.
It is true that there may be fewer potential buyers shopping for a new home during the winter. However, you will tend to find that winter buyers are serious about finding and purchasing a home. They are much less likely to be ‘window shopping’ or passing through viewing open houses.
Holiday Staging Is That Much More Fun
Finally, it is worth mentioning that staging can be a lot more fun during the holidays. Selling your home in the summer means trimming the lawn, keeping the garden looking clean and maintaining your curb appeal. Selling your home over the holidays means Christmas lights, decorations, baked goods and a more festive atmosphere.
Selling your home in the winter might seem a bit counter”intuitive, but with the market easing up and less inventory available you will find serious, interested buyers. When you are ready to list your home for sale, contact us. Our friendly real estate sales team is ready to help ensure that you receive top dollar for your home.
