Tim Garvey's Blog
Buying a home is an extensive process that comes with a bit of a learning curve. For first time buyers, this process involves making mistakes and learning from them.
While we can never be 100% sure of our home buying decisions, there is a way to increase your chances of making the best choices when it comes to buying and maintaining your first home.
In today’s post, we’re going to do just that. We’ll take a look at some of the biggest things that homeowners wish they knew before buying their first house.
1. Forgetting to research the neighborhood
It’s easy to become so enamored with your dream home that you barely look beyond its fence. However, the neighborhood your home is in can have a huge effect on your daily life. Having local parks, safe sidewalks to walk on, and road infrastructure that doesn’t drive you crazy on your daily commute are all important aspects of choosing the right home.
2. Getting pressured into making a decision
Many times, a seller will want to portray their home as being highly sought after to encourage higher and more frequent offers. Similarly, you may find that your own family has time constraints and want to make a quick decision to buy a home.
It’s when we’re under pressure that we can make choices that we aren’t happy with in the long run. So, in these situations, make sure you don’t make any snap judgments on a home. If it seems like you’re being pressured into making a decision without enough time to consider all of the possibilities, there’s a good chance you should pass on this opportunity.
3. Forgetting that you might someday have to sell this home
Sometimes homes can be difficult to sell due to things like their location and surroundings. For instance, a home that is remote or one that is located in low-scoring school districts may not matter to you if you don’t plan on having children. But, they likely will be important to a lot of your potential buyers when it comes time to sell the home.
This lesson also holds true for what you do with your home once you buy it. Making renovations or design choices that won’t appeal to the average buyer can make your home more difficult to sell and harder to get top dollar for.
4. Didn’t consider all financing options
There are several steps and several options when it comes to financing a home. Not only are the several mortgage lenders to choose from, but there are also many different types of loans available.
While there may not be one “right” decision when it comes to financing your home, it’s a good idea to do your homework and browse carefully all of the lenders and mortgage types.
Consider ways to increase your credit score or save for a higher down payment before buying if possible, so that you can secure the lowest interest rate possible.
Let's face it – selling your home has been a long, complex and stressful journey. Now, you're only 24 hours from finalizing the sale of your house and moving on to the next chapter of your life.
Although most of the home selling process is complete, a homebuyer still needs to finalize the home purchase agreement. As such, there are several things that you may want to do before a homebuyer completes his or her final walk-through of your residence, including:
1. Clean Your Home's Interior
A messy interior is unlikely to ruin your home sale. At the same time, it is always better to err on the side of caution and provide a homebuyer with a fresh, clean residence that he or she will be able to enjoy instantly.
Spend some time mopping the floors, wiping down the walls and ceilings and ensuring your house's interior looks pristine. By doing so, you can minimize the risk that a homebuyer will find last-minute problems that could delay his or her home purchase.
2. Remove Your Belongings
If you have any belongings still at your residence, you'll need to remove them quickly.
When it comes to last-minute moving, you may need to rent a moving truck. With a moving truck at your disposal, you can remove items from your property and put them in storage or move them to your new address.
Also, don't hesitate to ask family members and friends for assistance. These loved ones may be able to provide a helping hand as you prepare to relocate from your current residence. Plus, they may be able to help you alleviate stress as you wrap up the home selling cycle.
3. Cancel Any Home Services
Contact your home cable, internet and telephone service providers to inform them about your upcoming move. You may be able to move various services to your new address, or you may need to cancel some of these services entirely.
Don't forget to contact any utilities providers as well. That way, you can avoid the risk of utility bills after you leave your current address.
4. Consult with Your Real Estate Agent
Your real estate agent has been a game-changer throughout the home selling cycle. As the home selling process draws to a conclusion, your real estate will continue to do what he or she can to ensure you can get the best results possible.
If you're uncertain about what to do to get ready for a home closing, be sure to give your real estate agent a call. This housing market professional will provide details about how the home closing process will work so that you can plan accordingly.
Moreover, your real estate agent is happy to respond to any home selling concerns, at any time. He or she will go the extra mile to provide you with the home selling support you need.
Get ready to finalize a home sale – use the aforementioned tips, and you'll be able to prepare for a home closing.
No two vacation residences are alike. As such, it pays to be diligent as you conduct a search for the optimal vacation home. Otherwise, you risk purchasing a vacation house that fails to accommodate your long-term needs.
Ultimately, there are lots of things you can do to find a vacation home that complements you perfectly, such as:
1. Establish Vacation Home Must-Haves
Think about the features you want in your vacation home. By doing so, you can hone your vacation house search to residences that offer the features you want.
For example, if you want a vacation home that includes a state-of-the-art heating and cooling system, you can focus on finding a house that offers this system. Or, if you would prefer a vacation house that boasts an in-ground swimming pool, you can explore residences that offer this amenity.
Don't forget to make a list of preferred cities and towns for your vacation home, too. With this list in hand, you can check out residences in cities and towns that meet your expectations.
2. Create a Homebuying Budget
A homebuying budget is crucial, particularly for an individual who wants to purchase a vacation residence as quickly as possible. Because if you know how much you can spend on a vacation residence, you can focus on houses that fall in line with your finances.
To establish a homebuying budget, it often helps to meet with banks and credit unions. These financial institutions employ friendly, knowledgeable mortgage specialists who can help you evaluate different mortgage options for a vacation home. Plus, if you have any mortgage concerns or questions, these specialists are happy to respond to them.
3. Collaborate with a Real Estate Agent
When it comes to searching for a vacation house, there is no reason to work alone. In fact, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you take the guesswork out of finding and acquiring a quality vacation residence.
A real estate agent works with a homebuyer and helps this individual achieve his or her desired results. Thus, if you want to find a vacation home in a warm-weather destination, a real estate agent can help you do just that. On the other hand, if you would like to purchase a budget-friendly vacation residence, a real estate agent will help you map out your house search accordingly.
Let's not forget about the guidance that a real estate agent provides throughout the vacation homebuying journey, either. A real estate agent goes above and beyond the call of duty to help a homebuyer achieve the best possible results. They will work closely with you throughout the property buying journey, and as a result, will make it simple for you to purchase a first-rate vacation residence.
Kick off a successful vacation home search – use the aforementioned tips, and you could accelerate the process of purchasing a superb vacation residence.
An ambitious homebuyer goes above and beyond the call of duty to find a great residence at an affordable price. As such, this individual is better equipped than others to streamline the homebuying journey.
Anyone can become an ambitious homebuyer. Now, let's take a look at three tips to help you seamlessly discover your dream residence.
1. Create Homebuying Criteria
Buying a home can be simple, particularly for those who establish property buying criteria. If you enter the real estate market with homebuying criteria in hand, you can hone your search to residences that match your expectations. Then, if you find a house you want to buy, you can move quickly to acquire this residence.
As you craft homebuying criteria, it often helps to evaluate your short- and long-term aspirations. For example, if you strive to live close to the beach, you may want to pursue residences near top beaches in various cities and towns. On the other hand, if you require a house that includes a central air conditioning system, you can search for residences that boast this feature.
2. Develop a Budget
A homebuying budget is essential, as it will help you search for houses that fall within your price range. Perhaps most important, a budget limits the risk that you will be tempted to spend beyond your means to purchase your ideal house.
Generally, it helps to meet with banks and credit unions before you launch a home search. These financial institutions can teach you about a variety of mortgage options and help you make an informed mortgage selection. Best of all, banks and credit unions can respond to any of your mortgage concerns or questions, at any time.
3. Collaborate with a Real Estate Agent
If you want to speed up your home search, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can get the help you need to discover a terrific home that can serve you well for years to come.
A real estate agent understands the importance of conducting a comprehensive home search. Thus, he or she will do whatever it takes to help you find a home that suits you perfectly. From setting up home showings to helping you craft a competitive offer to purchase, a real estate agent is prepared to assist you in any way possible.
Furthermore, a real estate agent will offer plenty of guidance as you get ready to close on a home. The weeks and days leading up to a home closing can be worrisome, but a real estate agent will provide tips to alleviate stress. As a result, a real estate agent will help you enjoy a stress-free homebuying experience.
Want to navigate the homebuying journey like an expert? Take advantage of the aforementioned tips, and you can become an ambitious homebuyer and find and purchase your dream house in no time at all.
Purchasing a second home should be a fun, exciting experience. Yet homebuyers who fail to consider where they want to pursue a second residence may struggle to achieve their desired results.
If you know you want to buy a second home, it often helps to narrow your house search to residences in a select group of cities and towns. Then, you can evaluate available residences in your preferred cities and towns and boost the likelihood of finding a house that you can enjoy for years to come.
Of course, determining which cities and towns where you want to pursue a second house can be difficult. Yet there are lots of things you can do to hone your house search, including:
1. Evaluate Your Homebuying Budget
Your finances likely will play a major role in your ability to pursue and acquire a second residence. As such, you should examine your finances closely so you can establish a homebuying budget.
If you have paid the mortgage on your current house, focus on the mortgage costs associated with a second home. For example, if you want to find out how much you can afford to pay for a second home, you can meet with bank and credit union mortgage specialists. This will allow you to get pre-approved for a mortgage so you can enter the real estate market with a budget in hand.
Comparatively, if you still have a mortgage on your present house, you should consult with your lender. This will allow you to determine if you qualify for a second mortgage. Also, you can get financial guidance so you can figure out where to search for a second house that falls in line with your finances.
2. Establish a Homebuying Timeline
Think about when you want to acquire a second residence. Next, you can create a homebuying timeline to help you achieve your desired homebuying goal.
A homebuying timeline should remain flexible. If you want to purchase a second home in the mountains, for example, you should account for the time it may take to transport various personal belongings to this residence. And if problems arise that delay your efforts to acquire a second home, you should be ready to adjust your homebuying timeline as needed.
3. Hire a Real Estate Agent
Let's face it – buying a second home is rarely simple, regardless of your property buying expertise. But if you hire a real estate agent, you can receive extensive assistance as you search for a second residence.
A real estate agent understands the ins and outs of the housing market. He or she will share real estate market insights with you, along with providing tips and recommendations. As a result, a real estate agent will help you find a second home in your preferred city or town as quickly as possible.
Take the guesswork out of finding and buying a second home in the city or town of your choice – use the aforementioned tips, and you could streamline your quest to acquire a second residence that matches your expectations.