03 Dec 2020
By Kevin Gahagan

Buying A Home Virtually

Mortagage Tips

Buying A Home VirtuallyDuring the past few months, everyone has been going through unprecedented times. Every industry has been impacted and this includes the real estate sector. There are lots of people who are still trying to buy and sell a home during an era of social distancing. This can make it hard to look at a prospective property in person. The good news is that there are still ways for people to buy a house virtually. There are a few tips that everyone should keep in mind. 

Go On A Virtual Tour

Of course, everyone wants to take a close look at a home before they decide to buy it. Even though it is challenging to schedule live tours, virtual tours can still be helpful. With virtual real estate software, it is possible to take a virtual, walking tour the home. Furthermore, if tours have been recorded using drones, then a virtual tour might provide everyone with a new perspective on a potential home. 

Ask The Right Questions

It is important for everyone to make sure they ask the right questions. Even if someone is not going on a  tour of a home in person, it is still important to ask the same questions. For example, ask about the age of the roof, the age of the HVAC system, and other pertinent questions to the property. This will help everyone make sure they understand exactly what they are buying. 

Know What Is Not Seen Virtually

When it comes to asking questions, it is also important to think about items that cannot be seen virtually. For example, it might be difficult to judge noise levels outside of the home from a virtual tour. It might also be challenging to figure out where puddles tend to form during thunderstorms. These are important topics that have to be discussed as well. 

Prepare Early To Buy A Home Virtually

Even if people cannot see a property in person, the real estate market can still be relatively active. Therefore, anyone who is looking to buy a house in this market has to make sure they stay on top of their information. This will help them remain competitive when they are trying to buy the perfect house for their needs.

 

24 Nov 2020
By Kevin Gahagan

Important Advice For Locating The Right Neighborhood

Mortagage Tips

Important Advice For Locating The Right NeighborhoodWhen people are thinking about moving, they want to make sure they find the right neighborhood. At the same time, it is not always easy for many homeowners to decide where they are going to live. Particularly if they are not familiar with the local community, there are a few important points that everyone should keep in mind. By thinking about these factors ahead of time, potential homeowners are going to place themselves in a position to be successful when they purchase their next home. 

Consider The Importance Of The Schools

Many people who are moving are looking for a bigger house because their family is getting larger. Therefore, one of the most important factors that families need to think about involve the quality of the schools. Schools are going to play a major role in the pricing of the neighborhood. Think about whether the kids are going to go to public school or private school. For families that are going to send their kids to public school, they need to think about the quality of the public schools and what school system the neighborhood is zoned for. 

Think About The Commute To Work

Another important factor that the family should consider is the commute to work. There are many people who are moving in an effort to shorten their commute or because they are getting a new job. Therefore, it is a smart idea to think about the traffic, the time it will take to work, and how challenging the driving route is going to be. This is going to play a major role and where the family is going to end up settling. 

The Access To Amenities

Finally, it is also important to think about access to amenities. This could include parks, shopping, hiking trails, and even access to the airport. Families need to think about what is important to them and prioritize this during the housing search. It is also a great idea to think about any development that might be taking place in the local area that could influence housing prices in the future. All of these factors should be considered when families are considering which neighborhood they would like to move to.

 

14 Aug 2020
By Kevin Gahagan

The Importance of Reviewing Your Insurance Policies During The COVID-19 Pandemic

Mortagage Tips

The Importance of Reviewing Your Insurance Policies During The COVID-19 PandemicThe COVID-19 pandemic has taken the world by storm. Millions of people all over the world have been infected and businesses have ground to a halt. During this time, it is important for everyone to take a breath, pause, and look at their insurance policies.

The reality is that the economic crisis is following in the footsteps of the obvious public health emergency. In order for everyone to hold their finances together, it is important to explore all of the options. This includes looking at insurance policies.

Business Interruption Insurance

One of the first policies or riders that everyone has to look for is called business interruption insurance. This is an insurance policy that might be able to assist companies that are struggling with reduced revenue streams due to interruptions in their normal business operations.

For example, if a business is forced to shut down due to the COVID-19 pandemic, this might fall under the category of business interruption insurance. This can help businesses bridge the gap until they can reopen again.

Civil Authority Clauses

This is a feature that is common in property insurance. This insurance claim can be triggered if government policies restrict the entry of people onto the property of the policyholder. If this restriction leads to lost income, then the insurance policy can be triggered. Everyone should check their policies to see if this clause is included as this can provide funds to businesses that might not otherwise be able to stay open.

Defensive Policies And Riders

Finally, defensive policies are often put in place to help companies defend against lawsuits that might be filed against the company related to injuries and illnesses. Without a doubt, there will be a slew of lawsuits filed related to the COVID-19 pandemic. Defensive policies can help companies cover legal fees, settlement costs, and other expenses related to these lawsuits.

Defensive policies are also called D&O insurance (Directors and Officers Insurance) as well as General Liability Insurance. It is important to read the insurance policy carefully to see if these policies are included.

Businesses need to explore every available option when it comes to reopening. These insurance policies can help them survive the COVID-19 pandemic.

24 Jul 2020
By Kevin Gahagan

How to Pack Weird Shaped So They Are Free From Damage

Mortagage Tips

How to Pack Weird Shaped nothey Are Free From DamageIf you are like a lot of homeowners who have just sold their homes, packing up to move is the least enjoyable aspect of the whole thing. Packing is always time consuming, but it is worse when you have weird shaped items to pack. Sometimes the most commonly used items end up being difficult to pack.

Here are some tips for how to handle it.

Think Outside The Box

Many weird shaped items either do not fit inside a standard sized box or they will rattle around and get damaged. Try to think of unusual packaging materials that might fit the bill, such as egg cartons, cardboard paper towel tubes, insulated coolers and even file cabinet drawers. Often, you will be able to fit a odd or strangely shaped item into one of these. 

  • For instance, sharp knives can be tucked into paper towel tubes. Fold the two ends down and tape shut. 
  • Your kids rock or shell collection can be packed inside egg cartons, layered with newspaper and taped up.
  • A delicate light fixture such as a small chandelier can be packed into an insulated cooler and surrounded with Styrofoam peanuts.

Deal With Sporting Goods And Gardening Equipment

Sporting goods pose a particular challenge when packing. If your family engages in water sports, archery or other activities, you will be wondering how to pack things like fins, a crossbows, skis, and other expensive but weirdly shaped equipment. Here are some ideas.

  • Pack snorkeling and scuba gear into a large, new, plastic trash barrel. The fins will be able to fit on end so they get warped, and there will be plenty of room for masks, snorkels and scuba tank, if necessary.
  • Use a specially designed television box to pack a cross bow and arrows or any other item that?s flat and wide.
  • Ski poles will fit nicely into a bicycle box (along with the bicycle). You can get one from a local dealer or buy one from the moving company. Secure the poles with a zip tie first. 
  • Wrap up garden shovels and hoes with a zip tie and pack them into their own bicycle box. You can use the same box to pack rolled up tents, sleeping bags and other camping gear. 

You can see that with a little ingenuity there is always a way to pack weird shaped items. Be forewarned though – the stranger the item, the more creative you may have to get!

 

 

21 Jul 2020
By Kevin Gahagan

Should You Buy A Fixer Upper?

Mortagage Tips

Should You Buy A Fixer Upper?If you’ve expressed any interest in buying a home that you can work on, your real estate agent may present you with one or two fixer upper properties for your consideration. Fixer upper homes can offer good value for certain kinds of homebuyers.

But not everyone should buy a fixer upper. Here are some considerations to keep in mind.

There May Be Unforeseen Conditions

Until you actually get in there and start renovating, you cannot know exactly what is behind those walls. Fixer uppers could have unforeseen conditions that could blow away your renovation budget.

If you do decide to forge ahead with an offer, consider hiring a structural engineer, a pest control technician and a mold expert to carefully inspect the property first.

Will You Be Able To Live There During Renovations?

Sometimes a fixer upper requires a complete overhaul. Other times there are a few inhabitable rooms you can stay in while completing the rehab.

Consider whether you and/or your family can be comfortable during the work, or if you will need to rent an apartment or stay with family.

This will heavily impact your fixer upper experience.

How Handy Are You – Honestly?

This is the time to be really honest with yourself. How much of the work can you actually do? Are you a wannabe handyman, or do you truly possess the skills and experience to complete quality work? If everyone you know is astonished that you want to work on a fixer upper house, it is a smart idea to take stock of your abilities. 

Can You Afford To Hire Workers?

Just because you buy a fixer upper does not mean you have to do the work yourself, either. Maybe you have the money to hire a contractor or workers to get the job done. If hiring others is part of the plan, make sure you budget accordingly. Do not forget to budget for the unexpected because with a fixer upper, you can expect the unexpected.

Finally, if the only house you can afford is a fixer upper and you really want to buy now, then maybe you should go for it. After all, when you finish the rehab, you could be in a position to take some equity out of the house after a new appraisal.

For the right person in the right circumstances, a fixer upper can be a viable choice.