Oct 18, 2016 | Home Mortgage Tips
It’s often the case that people will opt to postpone home ownership until the best rates are available or it’s a more stable investment, but in an ever-shifting market it may not be the best decision to put such a sizeable investment off. If you’re wondering whether or not you should put off investing in a home, here are some reasons you may want to start putting your time into searching for a home.
Interest Rates Always Fluctuate
While interest rates are constantly changing and have certainly risen since the economic recession of 2008, they still remain relatively low and this can make investing in a home an even better financial decision. There are no certainties that market rates will remain low, but given a lower monthly payment and the easier qualifications nowadays to acquire a loan, the present may be the best time to start investing in your own place.
Investing Early Reaps Financial Rewards
It’s easy enough to wait for a lower home price or even improved interest rates, but there is no guarantee that the market will shift down. In the meantime, you may be spending at lot of your monthly paychecks on rent. If home ownership is one of your goals in life and you’re living month to month with a high rental payment, investing money into a home is a sure way to gaining equity for the future, even in the event that the market shifts up.
It’s A Good Time To Buy
When it comes to the market, there may always be a time coming when you’ll get a better deal, but the fact remains that homes tend to remain on the market a lot longer these days and it’s largely a buyer’s market. There are no guarantees that you’ll be able to find the house you want at the price you can afford, but there are a lot of good deals to be found these days and investing sooner is an opportunity to reap financial rewards down the road.
Many people hold off on home ownership because they are waiting for prices to come down or interest rates to change, but the sooner you invest in a home, the more you can benefit from investing into something that is entirely your own. If you’re currently perusing the market for a home at a price you can afford, contact your local real esatate professional for more information.
Oct 13, 2016 | Around The Home
There are things that everyone shares: the need for food, the search for love, and the intrusion of mice into our homes. But don’t despair! There are several ways to deter and remove mice. Read on to learn about a few of the more well known, if a little out-there, methods.
Peppermint Oil And Cotton Balls
The smell of peppermint is lovely for humans, but terrible to a mouse’s nose. Put a few drops of pure peppermint oil on cotton balls and place them where you’ve noticed evidence of mice. Be careful to change those balls for fresh ones at least once a week once the smell wears off, cotton balls are great material for a mouse nest.
Dryer Sheets
Another strong smell that will discourage mice from your home is dryer sheets. Place fresh ones around mouse hangout points, or stuff them into entry holes. Same thing here, though: make sure to remove them once the smell wears off. Nothing looks nicer for a nest than an unscented dryer sheet.
Mousetrap! The Glass Bowl Version
One humane and cost-effective choice is to build a live trap by balancing a glass bowl on an upright coin. Put some chocolate or peanut butter high up inside the bowl. When the mouse reaches for the treat it’ll upset the coin and drop the bowl to the floor, trapping itself. Then slide stiff cardboard over the bowl opening and carry the mouse at least 1km from your home before releasing it. Or you can go the store-bought route but either way, check all traps at least once a day.
Plug Those Holes!
With the mouse gone, there’s two things left to do. First, clean up after it (remove its droppings and sanitize the area) to discourage a return. Then close all its doors. Block any holes bigger than a pencil with caulking, steel or copper wool, or even aluminum foil all of these are tough to chew through.
And that’s it! Keep an eye out, and call in help if it becomes too much to handle these steps are most effective for a small number of rodents. If you need more help, call your local real estate agent for advice and referrals.
Sep 23, 2016 | Home Seller Tips
When people buy a new home they have a right to be informed of the problems that they may face on the property and any issues that the home previously experienced.
However, as a seller it can be difficult to know whether the required information is being disclosed. Nobody wants to appear misleading, especially when it can impact a sale, and making sure all the proper information is finding its way to the buyer is imperative to make the deal go through.
What Needs To Be Disclosed?
Disclosures are not handled at the Federal level except for the Lead-Based Paint Hazard Reduction Act, which requires all sellers to have their home inspected for lead paint if it was constructed before 1978.
Other possible disclosures include any legal issues with the property title, mold and water leaks, problems with the plumbing or sewage on the property, and issues with the roofing, air conditioning and heating systems.
Disclosure Laws Differ From State To State
While it is best to err on the side of caution when dealing with home seller disclosures, every state’s laws are different and some are more stringent than others. A seller may believe they are disclosing everything that is required and still find themselves on the wrong side of a lawsuit.
When deciding what to disclose to a buyer it’s best to always consult a local real estate agent. Any professional will know the specific laws to their area and will be sure to let you know if you have left something vital off the list.
When Disclosing Can Be A Positive
All disclosures are not created equal and in some situations they can even work in the favor of the seller. When the seller tells the buyer about an issue from the home’s past that has been repaired it can be a huge benefit.
Not only is the buyer being informed about the home’s history, they are being shown that the seller was a responsible home owner who took care of the property and fixed the issues as they came up. This can give them a sense of security and confidence that the home was well maintained.
If you are in the process of selling your home but can’t figure out what you need to disclosure legally and what you should disclose morally, speak with your local real estate agent. They will be able to walk you through the process so nothing is left off the list.
Sep 21, 2016 | Around The Home
Every insurance policy is different and can provide certain levels of protection tailored towards the needs of the policy holder. However, there are some standard types of coverage that are included in most basic home insurance policies.
Basic Levels Of Protection
Most homeowner insurance policies will include some basic levels of protection and coverage. The main dwelling will be protected from many forms of damage and the insurance company will pay to repair the damaged dwelling. This will extend to other smaller structures on the property, like sheds and separate garages, but the level of coverage will differ.
Damage is one important aspect of insurance, but protection for personal belongings is equally important and is also included in a standard home insurance policy. The monetary value of items in the home will be covered in case of damage or theft, so it’s a good idea to keep track of valuables. Every insurance company will have a different limit on the amount covered, so it’s wise to compare the value of belongings against the level of coverage.
The third aspect of home insurance policies is liability protection. This will cover any personal injuries that are incurred on the property by people who do not live there. It may seem silly, but having protection in case of a lawsuit can go a long way to saving a family financially as attorney fees and medical bills add up.
What Is Not Included?
Although each insurance company has different policies that cover different parts of the home, almost all of them do not include one important aspect in their policies. Damage caused by floods, earthquakes and war will not be included in most standard home insurance policies and may be important depending on the geography of the area.
Another important note is that flood damage does not just apply to natural flooding in the region, but will also include water damage from broken pipes or backed up sewage lines. It’s an important distinction because many first-time home owners assume this water damage will be covered under their basic insurance policy.
The right insurance policy can be difficult to figure out for first-time home owners. There are many questions to ask about the property to determine the right policy and it’s a good idea to consult your local real estate agent to get their insight into what additions may be needed.
Sep 14, 2016 | Around The Home
While many people may be hesitant to consider real estate as a viable long-term investment, owning property has a steady historical track record and isn’t as volatile as other investment markets can be.
Any investor who hasn’t seriously considered it as an option should take a closer look at the benefits of owning real estate and why it is the ultimate long-term investment strategy.
It Becomes A Consistent Source Of Income
Investing in rental property has the added benefit of being able to show regular returns in the form of rental income. Unlike other long-term investments that require a level of patience in order to profit, real estate can provide a large sum return in the future while still providing financial benefits on a monthly basis.
An Investment That Anybody Can Participate In
Many forms of investment require a level of skill or familiarity in order for first timers to jump straight into it with any level of confidence. Real estate is one investment that anybody can enjoy, thanks in part to the insight that can be gained from family and friends who have gone through the same process.
The level of knowledge that’s required to invest can be gained with some simple investigating to learn more about local areas that have increased in value and the kinds of homes that are popular. A real estate professional can take that information and add to it, providing invaluable expertise to the process.
Consider It To Be A Guaranteed Retirement Plan
Saving for retirement has become harder to commit to as each year goes by. Money being left in a savings account or an easy to sell investment can be dipped into at any point, leaving very little when retirement starts to roll around.
Using property as a long-term retirement plan requires a level of commitment to the investment and upkeep to the property that guarantees there will be something tangible to bank on later in life.
While investing in real estate may seem simple, especially when compared to other investment markets, it’s still recommended to consult with a professional before making any decisions. A local real estate professional will have a level of knowledge about which areas will be the wisest to invest in depending on how long in the future you are looking to sell. If you are interested, contact a local real estate professional in your area today for more information.
