Tag: homebuyer

Top Tips for Buying a Home This Year

Top Tips for Buying a Home This Year

Written by Marybeth Heckler on . Posted in Real Estate.

Each year the real estate market looks a bit different. In 2021, it appears that home inventory is still low and demand is high. That makes this year a seller’s market. So, if you have a home to sell – good news – you’re in demand! However, if you are looking to buy a home this year, things will be a bit tougher. Don’t give up on your home buying dream! There are still ways you can set yourself up for success this year.

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Avoiding Home Buyer Red Flags When Selling

Written by Marybeth Heckler on . Posted in Real Estate.

Even the best staging can’t hide everything when it comes to the home selling process. If you are looking to sell your home this year, here are some things that potential buyers are looking for (and hoping to avoid) that could impact whether or not they start the contract process for your home.

Here are our best tips for avoiding some of the ‘red flags’ that may turn off a potential buyer.

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Questions to Ask Before You Buy Your Next Home

Written by Marybeth Heckler on . Posted in Real Estate.

Buying a new home is not something you do on a whim or the spur of the moment. It is something that takes meticulous planning and careful decision making.

Whether you are buying a first-time starter home, expanding your house with the size of your family, or downsizing in your later years, there are certain aspects you need to know before you sign on the dotted line.

Here are the big questions you need to ask before you buy your next home:

  • What is my total budget? Begin with a little soul-searching about just how much money you can spend each month on a mortgage. As a rule of thumb, calculate your average monthly income. A mortgage should never be more than 25% of that figure. If it is, then you are not going to be able to afford basic living expenses.
  • How much do I need to put down on the home? For many people, the problem isn’t being able to afford the monthly mortgage. Rather, it’s the difficulty of putting together the down payment all at once. Put down as much as you can afford.
  • What’s the neighborhood like? If you have your eyes on one particular house, you need to also look at the neighborhood. Talk with your local police department or check the local newspapers to see if it is a high crime area. You can also check with them to see if anyone in the neighborhood is a registered sex offender. If you’re a parent or hope to be soon, look at the quality of the schools to see if they can provide a good education to your children. Finally, look to see if the home is in a flood plain or is prone to any other potential disasters.
  • How long has the house been on the market? This answer can really impact how much you have to offer on the home. If the house is a brand-new listing and the price is right, you may find yourself in a bidding war as multiple buyers jump in. However, if the home has been listed for months (or even more than a year), you may want to ask yourself what is wrong with it that others are passing it by. If it still seems like a good home, then offer less than the asking price and see if the homeowner is desperate enough to bite.
  • What other costs are involved? Buying a home is never easy, so you need to be prepared for hidden costs. First, estimate how much you expect to pay at closing. Also, pay close attention to the appliances and HVAC system and determine if these will need any upgrades or outright replacements. Finally, find out how much the property taxes are each year so you can include that in your budget.

If you are buying a new home, it is imperative that you do your homework first and get all the details down before you make your purchase. This is a major commitment and not one you want to make without all the facts in front of you.

 

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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.

Household Projects Perfect for January

Written by Marybeth Heckler on . Posted in Homeowner.

As a homeowner, each season brings its own list of home maintenance tasks that need to be completed, and January is no exception. Even though it’s dark and cold (and often snowy) outside, that doesn’t mean you are off the hook when it comes to keeping up with your home.

Here are some suggestions for tasks you could complete this month to keep your home in top shape:

Check Your Batteries

Go through your home and check the batteries and test all the smoke and carbon monoxide detectors to make sure they are in optimal condition and that you can depend on them in an emergency.

Clean the Coat Closet

Whether you have a mudroom or a simple closet, take some time to organize the space. Get rid of anything that no longer fits, doesn’t have a match, or is in poor condition. Make sure your weather gear is easily accessible and you have what you need to brave the winter weather.

Tackle that Junk Drawer

We all have one. The drawer where all the miscellaneous knick knacks and gadgets go can easily get out of hand if it’s not organized regularly.

Make Things Cozy

Pull out those fuzzy blankets, candles, and teapots! Go around your home and figure out how to make each room cozy and comfortable since you’ll be spending more time indoors this time of year.

Protection from Water

If you want to protect your home from potential water damage, make sure you know where your water shut off valve is (just in case). Are those gutters clean? They are designed to send any possible water or snow runoff into an appropriate spot which could be problematic if they overflow into other areas.

This should give you plenty of projects to tackle this month to stay on top of the place you call home.

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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.

Why You Should Buy a Home This Fall

Written by Marybeth Heckler on . Posted in Homeowner.

Most people think about buying a new house when the spring is approaching, the weather is nicer, and the temperatures are higher. But the problem with buying a home in the spring or the summer is that it’s when everyone else is buying one too.

If you want to get better deals and more options, then you might want to consider waiting until the temperatures dip and the weather gets a little softer in the fall.

Here are specific advantages to why you should consider buying a home this autumn:

 

  1. Reduced Competition — The most obvious reason why you should consider the fall for your home buying is because of the reduced competition from other buyers. This means that you have the chance to consider your options more thoroughly. You won’t have to jump at the first house because it might not be on the market tomorrow. Bidding wars are not likely during the fall months.

 

  1. Sellers are Motivated — This one goes hand-in-hand with the first point. Because there’s less traffic looking at houses, your sellers are motivated and willing to accept less for the home or to offer other things, such as flexible move-in dates and assistance with closing costs.

 

Many of these homes have been on the market since spring and the sellers may be willing to work with you because they’re frustrated with not selling their home. And with the holidays right around the corner and end-of-the-year tax advantages slipping away, homeowners are highly motivated to be flexible so they can unload their house.

 

  1. More Time with Your Agent — Another bonus of the reduced traffic is that your real estate agent is not going to be as busy as they might be during the summer. This means they can spend more time helping you search for the best house and the best deal. It’ll be easier to schedule meetings and appointments that meet your schedule rather than working you in around their other clients.

 

  1. Cheaper Home Goods — Many people don’t think about the deep discounts on home goods at the end of the year. These are products from appliances to bedding and window treatments that you may need when you move into your new home.

 

  1. See the House in a New Light — In the spring and summer, the neighborhood is likely to look its best and be less busy with people away on vacation. In the fall, you can see the house and the neighborhood in all its glory. If there are problems with leaky roofs or foundation issues, the fall weather will showcase these faults more readily.

 

  1. Better Rates — There are many other fields that all depend on the housing industry. Banks and lenders, as well as movers and contractors, all depend on making money from the sale of homes. When business is slow, such as in the fall, you can get better rates and deals from these businesses.

 

Fall time is becoming optimal for buyers who are looking for motivated sellers and more individual attention from your real estate agent. The lack of traffic and the end of the year deals makes all of this the perfect time to buy a home.

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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.

How to Prepare to Buy Your First Home

Written by Marybeth Heckler on . Posted in Real Estate.

If you’re thinking seriously about buying your first home, then you should know that the experience can be trying and difficult at times. The process can be a long one and can sometimes feel a bit overwhelming.

In the end, however, when you walk into that home knowing that it’s yours, it feels so much more satisfying than renting. You should feel pride in what you have accomplished, especially knowing the economic benefits of owning versus renting.

With that being said, here are some things you need to do as you prepare to buy your first home:

  1. Check your finances—The first thing you need is a realistic appraisal of your finances. You have to determine if homeownership is something that you are financially ready for. Look at all of your monthly expenses and figure out if you will have enough money to put into emergency savings in case something breaks and you have to fix it. You will also need to have a substantial amount in savings for the down-payment on the loan.
  2. Get pre-approved—Next, you should start shopping around for the best interest rate on a pre-approved loan. If you get into a bidding war with other potential buyers, a pre-approval will actually swing in your favor since you don’t have to take the time to do extra paperwork. A pre-approved loan helps you find the cheapest rate possible and also helps you figure out exactly how much house you can afford.
  3. Find a realtor—Next, you will need to find a realtor with whom you can work closely. You want a realtor who will take into consideration all of your must-haves and who can find the best fit for your needs and budget. A realtor should be familiar with all of the neighborhoods in your area and should be able to find you the home that will work best for you.
  4. Hit a lot of open houses—An instinct for many first-time homebuyers is to go with the first house that catches their eye. Instead, you should look at as many homes as possible. Don’t settle on any until you are absolutely sure it’s what you want. This isn’t like a lease where you can move out after a year. You are making a long-term commitment, so you don’t want to rush in.
  5. Get an inspection—Once you find a home you are interested in, it’s essential that you get a home inspection. You don’t want to buy a house with serious plumbing or electrical problems, only to have to sink thousands into it for repairs.

After you’ve gone through all of this, it’s time to make an offer and see if your bid is accepted. Then comes the worst part of the whole process—the waiting. But once you get that call that your offer has been accepted, the feeling of elation makes the process well worth the experience.

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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.

Tips for Jumping into the Spring Homebuying Season

Written by Marybeth Heckler on . Posted in Real Estate.

If you know anything about the home real estate market, then you know that spring is the biggest season for home buying. Buyers have been cooped up in their old homes all winter and are looking to move while sellers have had the same time frame to get their homes ready for sale.

But, if you’re looking to get into the homebuying market, then there are a few tips you should take care of before you start shopping.

  1. Make a list—Before you talk with a real estate agent, you should write out all of the must-haves that you want in a house. How many bedrooms and bathrooms will you need? Is there a specific location that you want? All of these will help narrow down the agent’s search so you don’t waste your time looking at houses that won’t work for you.
  2. Get your credit in line—A good FICO credit score is essential to buying a home. Let’s just say, hypothetically, you are buying a $300,000 home. A mortgage at 4.14% will run you a total of about $520,000. But if your credit is bad and your interest rate comes out to 5.73%, that same home will cost you about $630,000. That means that bad credit will make the same home cost you over $100,000 more than it would if you had good credit.
  3. Save as much as you can—One of the biggest problems with buying a home is that you have to keep a lot of cash on hand for down payments and emergencies. The more you put down, the better your interest rate and monthly payments will be. But you should also have at least 1-2 months of income set into savings for a potential emergency, such as a major home repair.
  4. Get preapproved—Because Spring is such a huge time for buying a home, you are going to be competing with a lot of other buyers that will be looking at the same prime properties. To make yourself look better to the sellers, you should arrive with a pre-approval from a local lender. These will generally carry more weight than a pre-approved loan from an online lender. You need to do everything that you can to make yourself look appealing to the seller.
  5. Be ready to negotiate—It isn’t enough to just make an offer, cross your fingers, and pray. In a competitive market, you will probably have to pay list price and not be able to haggle down on the price. But, you can still negotiate other areas like extended home warranties and closing costs. This can save you some money without asking too much that might wind up killing the deal.

This spring, thousands of homes, both old and new, will be placed on the market. If you want to jump into this “selling frenzy” then you need to get your finances in order and be ready to negotiate in order to be successful.

 

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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.