14 Jul 2017
By support

Buyer Beware: Three Major Red Flags to Watch for When Visiting Open Houses

Home Buyer Tips

Buyer Beware: Three Major Red Flags to Watch for When Visiting Open HousesAn open house is a good opportunity to get out and about to see what kind of home you’re looking for and if it will work for you. Fortunately, they can also be a good opportunity to find out some things about the house you’re looking at that might not be listed on the website and may be less than flattering. If you’re wondering what red flags to watch out for, pay attention to the following things the next time you’re at a showing.

Strong Odors

Many home sellers try to engage the senses in order to entice buyers by baking cookies or spraying air freshener. However, a lot of air freshener or scent can also be a means of hiding less than pleasant smells that are a giveaway for big problems. If you notice a lot of scents when visiting an open house or if there’s an odor, you may want to look for mildew or mold as this can mean a huge house-owning hurdle to deal with down the road.

An Abundance Of Fix-Up

A small maintenance issue here and there may not be a big deal, whether it’s a doorknob that doesn’t catch or peeling paint on the wall. Unfortunately, an abundance of small issues can signal a certain attitude towards general maintenance that should be approached with caution. While it may just be a few details that were forgotten about, it’s important to pay attention as there may be a lot of more important maintenance issues that are not being taken care of if the minor ones are visible.

Issues With the Foundation

There are many issues that will hopefully come to the forefront at the home inspection, but it’s not worth it to get invested in a home only to back out due to a failing foundation. Instead of leaving it up to the due diligence of the home inspector, check for large gaps in the home’s foundation to unveil any issues on this front. The foundation can be a huge issue if it requires a fix-up, and it’s one you probably won’t want to deal with in your new home.

Open houses can provide a great sense of what it’s like to live in a home, but they can also be a good opportunity to take note of any major issues with a future home. If you’re currently preparing to buy a home, contact your trusted mortgage professional for more information.

11 Jul 2017
By support

Location, Location, Location: How to Ensure You’re Buying a Home in the Right Community

Home Buyer Tips

Location, Location, Location: How to Ensure You're Buying a Home in the Right CommunityWhen investing in a home, one of the most important things is buying a place that you and your family can feel comfortable in. However, while a place you can envision yourself in is important, it’s not worth neglecting the neighborhood you’ll be moving into for the perfect home. If you’re wondering what you should be looking for in the neighborhood you choose, here are a few things to consider before making an offer on a home.

Is It Safe?

It may be common to feel bowled over by a home and want to invest immediately, but the right home in the wrong neighborhood may not be the best choice for many reasons. Part of feeling comfortable in your home is being safe among its streets, so ensure you research the neighborhood and its history, and check in on the crime rate. You may even want to consult with your agent or some local neighbors to see what information they can provide about the area’s history.

Are There Local Amenities?

If you’re used to getting in the car to run errands, it might not be a big deal to not have a grocery store or pharmacy nearby. However, if there are no amenities you use frequently close by, it can start to be a bit of a drain on your lifestyle. While you don’t necessarily need to have the trendiest restaurants or best shopping, it’s important to have a few choice places in case you run out of something and need to make a quick run to the store.

What’s Your Neighborhood Style?

It might seem like a strange thing to ask yourself, but the neighborhood you live in is going to become a big part of your life and that means you’ll have to see yourself in it. If you want neighbors you can trust and community-mindedness, you’ll want to seek out an area with these qualities. On the flip side, if you happen to prefer a busier urban atmosphere that offers more independence, this may be the way to go. There are a lot of things that go into finding the right home, but it’s important not to forget about the neighborhood you’re living in and what it will mean for your lifestyle. If you are interested in purchasing a home in your dream neighborhood, contact your trusted mortgage professional today.

20 Jun 2017
By support

One-stop Shopping: The Quick and Easy Guide to Buying a Home the First Time You See It

Home Buyer Tips

One-stop Shopping: The Quick and Easy Guide to Buying a Home the First Time You See ItMost people peruse the real estate market for a while before they bite down and decide to invest in a home. However, whether you’re in a rush or you think you’ve found the ideal place, it’s possible you may be ready to put in an offer on the first visit. If you’re trying to determine how you can get the home you’re looking for the first time around, here are a few things to be aware of when going in.

Are There Any Maintenance Issues?

If you’re planning on putting in an offer right away, it’s imperative to take a look around at any maintenance issues that jump out. You may not be able to notice all of the things that might be in need of fixing, but watch out for things like peeling paint, windows drafts and small fix-ups that haven’t been completed. This will give you a sense of what the overall home maintenance is like and may be a good sign of whether the home is a solid bet.

What Are You Willing To Pay?

Many people have an idea of what they want to spend, but it often flies out the window as soon as they see their dream home. It’s important, however, to keep in mind what kind of offer you want to put down and not stray too far from it. This will ensure that you pay a reasonable price for your home and won’t be stretching your monthly budget. It’s just important to be ready to negotiate!

What Do You Really Want?

It’s easy to get swept away by the excitement of investing in a home, but if you’re planning to buy you’ll need to know exactly what you’re looking for so you can avoid buyer’s remorse. Instead of making a split decision, write down a list of the things that you absolutely must have and the things you can do without. If you find a great place, you might be willing to let go of them in the moment, but review the list before making an offer to ensure it’s the right choice.

08 May 2015
By support

Ready to Relocate? 3 Tips on How to Set a Moving Budget That Won’t Break the Bank

Around The Home

Ready to Relocate? 3 Tips on How to Set a Moving Budget That Won't Break the Bank Relocating to a new area can be exciting, but it can also be expensive. There are many resources to help, but most cost money. However, if you take your time and plan carefully, you can reduce the expense so you don’t start your new life with new debt. Here are three tips to controlling your moving budget.

1. Find Out What’s Free

Nothing is better than paying nothing, right? Don’t assume you have to fork out money for everything you need to move. If you have accepted a new job, ask your new employer whether the company can cover any of your moving expenses.

When it comes to moving supplies, see what you can get without having to pay for it. Stock up on free moving supplies by asking your workplace, local grocery stores, and friends and family for unneeded, sturdy boxes. Instead of paying professional movers, see if you can barter with friends or family for help in moving boxes to and from the truck.

2. Focus On Essentials

After you’ve pursued every possible angle to cover your needs for free, you will likely need to pay for something. The trick is to only do so for what is absolutely necessary. Many providers will offer you help along the way, but you should only sign up for basic services. This could include moving big items such as a piano, paying for gas and tolls, or buying cartons for oddly-shaped or particularly valuable items. If you are not able to move things yourself, this could include hiring professionals.

3. Do It Yourself

If you have the time and are physically fit, start long before moving day and pack everything yourself. Rent or borrow a truck and move your boxes yourself, perhaps with the help of a friend. Take care of disconnecting old utilities and signing up for new ones. Handle both cleaning your old home and preparing your new one. Anything you can do with a little elbow grease will mean less money out of pocket.

Remember that you are in charge of your move, so don’t automatically sign up for every service available. By using free goods and services when available and doing much of the work yourself, you can set and follow a moving budget you can afford.

06 May 2015
By support

Real Estate Investing: Why Buying Raw Land Can Be an Excellent Long-Term Strategy

Real Estate Tips

Real Estate Investing: Why Buying Raw Land Can Be an Excellent Long-term Strategy When many people think about investing in property, they think about purchasing income-producing real estate such as a residential property or an office building with tenants. There are indeed many benefits associated with investing in income-producing property. For example, these properties may produce rent that can offset your ownership expenses. However, buying raw land can also be an excellent long-term investment strategy.

By learning more about the benefits of investing in raw land, you may be ready to start searching for real estate to invest in soon.

Minimal Ownership Expenses

Raw land will not have as many ownership expenses as land. This property may not produce rental income for you, but you also will not have to maintain or repair a building or pay for property insurance. Property taxes and a mortgage payment may be lower as well. Typically, your main expense will be the mortgage payment, and this may be far less than what a mortgage payment on developed land may be.

You essentially will be able to pay for the property outright to have no expenses or to leverage your investment and make affordable mortgage payments to pay for your investment.

Significant Potential Gain

There is a significant potential for long-term financial gain with your purchase of raw land. Consider that you can adjust the zoning or subdivide the property as desired. You can also wait for urban sprawl to reach the area to drive up demand and value for the property. It can be difficult to predict when the property value will increase. However, when you select a property in an area that seems to be growing, you may expect there to be some demand for that property in the coming years. Many who have invested in raw land may realize a significant gain when they make plans to hold onto the property for several years or longer before selling it.

Before you make any financial investment, it is important that you consider the amount of time that you wish to hold the investment before seeing a return on it. With raw land, you generally need to anticipate hanging onto the asset for several years or even decades before seeing a financial gain. Make sure to talk with your trusted loan officer about what would be best for you and your financial situation.

Keep in mind that land is a limited resource, and there is increasing demand for it as populations rise in many areas. With this in mind, you can generally expect most property values to eventually rise over time.