Kristen Dailey's Blog
Attending a home showing often represents a major milestone in the homebuying journey. But after you take an up-close look at a house, how should you proceed?
There are many questions to consider after you attend a home showing, including:
1. What Did You Think of the Home?
Although it may appear to be love at first sight after you view a property for the first time, it usually is better to err on the side of caution. Thus, after you check out a home, you may want to take at least a few hours to assess the property.
Does the residence fit your budget? Is the property big enough to accommodate your family? And is the residence close to your office? These are just some of the questions that you'll want to consider as you evaluate the pros and cons of a house.
Also, don't forget to consult with your real estate agent. This professional may be able to offer additional insights into a house that you might struggle to obtain elsewhere. By doing so, your real estate agent can help you determine how to proceed with a residence.
2. Should I Submit an Offer?
The decision to submit an offer on a house is a big one, particularly for those who want to purchase a high-quality property at a budget-friendly price.
Ultimately, you'll want to look at various housing market factors before you submit an offer on a residence. Consider how long a residence has been listed as well as the prices of comparable houses in the same city or town. Furthermore, you'll want to consider the property's condition and whether major repairs will be needed in the near future.
Your real estate agent can help you put together a competitive offer on a house that won't exceed your budget. This housing market professional will enable you to examine the pros and cons of a residence and make it easy for you to decide how to move forward after a home showing.
3. What Are My Options?
Homebuyers have many options after they view a house. They may choose to submit an offer on the residence. Or, if a house fails to meet their expectations, homebuyers can continue to explore the real estate market.
No homebuyer should feel backed into a corner after a home showing. Fortunately, your real estate agent will be able to outline all of your options. This real estate professional will simplify the process of finding your dream house and allocate the necessary time and resources to explain all of the options at your disposal.
Perhaps best of all, your real estate agent can answer any concerns or questions at each stage of the homebuying journey. That way, if you're uncertain about a residence that you recently viewed, your real estate agent will be able to respond to your queries without delay.
Take advantage of home showings, and you should have no trouble discovering your ideal residence.
We’re not taught much about homeownership when we’re young. Like paying bills and taxes, it’s something we’re all expected to pick up along the way. But with something as important and expensive as buying a home, there should be a guide to help first time homeowners determine if they’re ready to enter the real estate market.
Today, we’re going to attempt to provide you with that guide. We’ll offer some of the prerequisites to homeownership to help you determine if you’re ready to buy your first home.
A rite of passage
Buying a house is a significant moment in anyone’s life. It’s often a precursor to starting a career, a family, and settling in a part of the country you will likely call home for a large portion of your life.
It’s also overwhelming.
There’s much to prepare for before buying your first home. You’ll be calculating a lot of expenses, thinking about jobs and schools, and learning new things about home maintenance. Here are some things to think about before buying your first home.
Can I afford it?
The most obvious question first time buyers ask themselves is whether they can afford a home. What many don’t ask, however, is if they can afford all of the unexpected expenses that come with homeownership.
Everyone knows they’ll be making mortgage payments. But to decide if you can really afford a home you’ll have to make a detailed budget. Here are some other expenses to consider:
Mortgage closing costs
Maintenance and repairs
Do I plan on staying in the area?
When you buy a home, you’re not just committing yourself to the house itself, but also to the area you live in. Typically, it only makes sense to buy a home if you’re planning on staying in it for a number of years (usually five or more). Ask yourself the following questions to determine if you can truly commit yourself to your area.
Could my career lead me to transferring to another location?
Could my spouse’s career lead them to transferring?
If children are in the present/future, is the local school district what I’m looking for in terms of education for my child?
Will I want to move live to family?
Will I have to move soon to care for aging parents?
Do I like the weather and culture in the area?
Is my income stable?
Owning a home is much easier when you have a stable income or two stable incomes between you and your significant other. It help you get preapproved for a mortgage and help you rest easy knowing that you can keep up with the bills each month to maintain or build your credit.
Stability doesn’t just mean feeling comfortable that your company won’t get closed down or that you’ll be dismissed from your job. It also means that there are frequent openings in your field of work in the area you choose to live. So, when planning to buy a home, make sure you factor in the potential travel distance to cities or places you could potentially work.
Am I prepared to put in extra work?
If you currently rent an apartment, you’re most likely not responsible for maintenance outside of basic cleaning. Owning a home is a different story. You’ll be taking care of the house inside and out. That means learning basic maintenance and buying the tools for the job.
It also means mowing the lawn, cleaning the gutters, shoveling snow off of the roof, and other menial tasks that you’ll need to make time for.
10 Chestnut Street, Kingston, MA 02364
Being a first-time home buyer is tough. It can seem like you have undertaken one of the most overwhelming processes ever. There’s so much to learn in the process of securing a mortgage and closing on a home. If you go into buying a home prepared with knowledge, it will be that much easier for you.
There’s a lot of terminology to learn about the home buying process. You’ll need to know who should be involved with the transaction including agents, lawyers and bankers. You’ll need to be prepared for the fees involved in buying a home as well. There are many different programs available to help first-time homebuyers that can help you save money and secure your first home. Here’s just some of those programs:
This is the Federal Housing Administration and it’s a very popular go-to for first-time home buyers. It’s also great for people who have tarnished credit history. As a borrower with FHA backing, you can qualify for a loan with as little as 3.5% down. These FHA loans have an additional cost built into them which is mortgage insurance. In case you default on the loan, this protects the lender.
The Department Of Veteran’s Affairs
This resource helps veterans, service members and their surviving spouses to buy homes. Often, this program requires no down payment or mortgage insurance. The problem is that getting these kinds of loans can take awhile to process, so you can’t be in a big hurry to buy a home.
Good Neighbor Next Door
This program is meant for teachers, law enforcement, firefighters and emergency medical responders, which is why it’s called the “Good Neighbor” initiative. This is a program sponsored as part of the Department of Housing and Urban Development. It allows 50% discounts of the price of homes in places considered revitalization areas. All you need to do is be in one of the said professions and commit to living on the property for at least 3 years. The catch is that these homes are listed for just 7 days on the Good Neighbor Next Door website.
Fannie Mae and Freddie Mac
These are government-sanctioned companies that work with local lenders to offer good mortgage options for first-time home buyers such as 3% down payment options.
The U.S Department of Agriculture has its own homebuyers’ assistance program. The benefits are for people who live in rural areas and allows 100% financing by offering lenders mortgage guarantees in return. There are income limitations that can vary by region.
Assistance Isn’t Hard To Find
As you can see, there are many programs available to help first-time homebuyers. From downpayment assistance to ways that you can keep your mortgage payments low, you can find some help if you need it. You may feel that purchasing a home is something that’s far in the future the future, but with federal programs, more people can realize their dreams of home ownership.
The windows in your home are important. They provide a source of air, but they also provide a source of protection from the elements and help to keep the heat in the home. They also prevent the cold air from escaping in the summer months. With properly insulated windows, you’ll actually save on heating and cooling costs. That’s why the windows in your home are so important.
At some point, you’ll need to replace the windows in your home. While there’s no definitive time, there’s plenty of recommendations as to when you know your windows are failing you. It’s important to the overall health of your home to know that the windows are “doing their job.” Below, we’ll give you some tips on how you’ll know when you need to make the switch to newer windows. We’ll also show you the disadvantages in waiting too long to replace the windows in the home.
How Many Years Do Windows Typically Last?
A basic rule is that windows last between 15 and 20 years. Then they’ll need to be replaced sometime soon after they reach that age. Many times, homeowners will provide some touch-ups to the windows, adding additional insulation and caulking. This, however, is a mere temporary fix. Eventually, the entire units will need to be replaced.
Design Moves Forward
One of the best advantages to replacing your windows is that advances in their design continue to make your home better. Newer windows provide much more insulation than older versions. The temperature in your home will be better regulated with newer windows, helping you to save on your overall energy costs.
New Windows Add Value
Putting new windows in your home can help you to add value to your home. While more energy efficient types of windows are an investment, you’ll save money on a few things in the long term. The money that can be saved on energy bills alone can be worth it.
If you plan on selling your home in the near future, replacing the windows can also be a big bonus. They will add money to the overall value of the appraisal and entice buyers. There’s one less thing a buyer will have to do in your home once you move, making your home more attractive.
The Right Number
The 15-20 year mark is simply a suggestion as to how often windows should ideally be replaced in a home. Keep tabs on the windows that are in your home and make note if you’re feeling drafts or the windows start to get stuck, crack, or even break completely. You’ll know it’s time to replace the windows when you see these signs.