Purchasing a home is one of the largest financial investments you’ll probably make. It also can be a very emotional one as well. Here are some tips to help take the stress out.
- Work with a Realtor that not only is knowledgeable but also is comfortable fit with your personality.
- Don’t look for perfection. Every house has tradeoffs; focus on the most important features.
- Get pre-approved for a mortgage before you start looking.
- Don’t nickel & dime when it comes to negotiations. Yes, negotiating is part of the process but over-negotiating can kill the deal.
- Keep in mind that there is no “right” time to buy. Second-guessing interest rates or trying to time the market is next to impossible.
- Don’t ask for too many opinions. Some input from friends or family can be helpful. Too much – it’s confusing. Listen to the advice of your Realtor.
Give me a call if you are looking for a knowledgeable Realtor to help guide you through the home buying process! 603-526-4116; www.DonnaForest.com; Donna @DonnaForest.com
Teamwork from the Team that works –Better Homes & Gardens Real Estate - The Milestone Team
If your New Year’s resolution is to buy a home this year, don’t be discouraged by the fact it is a sellers’ market. Below are some great tips to help you be prepared.
- Get pre-qualified for a loan; better yet get pre-approved. (Pre-approval requires submitting a loan application & necessary documentation)
- You could be competing with other buyers for the same house so be mentally prepared you may have to offer over asking.
- Don’t wait too long to make a decision – good homes sell quickly.
- Make a clean offer with as few contingencies and as large an earnest money deposit as possible. Be flexible with your closing date.
- Be ready to compromise on your needs vs. wants in a home.
By following these tips and remaining optimistic, 2020 may just be the year you become a new homeowner! Contact me and put my 26 years of experience to work for you. 603-526-4116; Donna@DonnaForest.com; www.DonnaForest.com
Teamwork from the Team that works –Better Homes & Gardens Real Estate - The Milestone Team
When you’ve just moved into a new community, getting involved with your neighbors and neighborhood can be a great beginning to a happy life. Our communities can be pillars of support when we need them or friendly faces we’re happy to see each day. Through volunteering, joining clubs and groups, taking part in community sports activities and hosting events, you can bond with those who live around you and create a wonderful home for yourself – and others.
Here are 5 ways to get more involved in your community:
Many big cities and small towns have carnivals, holiday gift boutiques, formal dinners and similar charitable events to bring the community closer together. Attend these events and enjoy being a part of shared experiences. You’ll likely meet people who have many of the same interests as you do, which is a good way to form friendships.
- Attend or host charity events
Children often enjoy becoming members in Girl or Boy Scout-type groups, YMCA memberships, parks and recreation classes or mommy and me groups. Often, parents of kids in these programs go on to become friends for life. If you don’t have little ones, it’s still possible to coach, teach a craft, be a dance instructor and get involved in your community in other ways.
Families can get to know neighbors by becoming active in after-school programs. Even if you don’t have kids, meet new people in your neighborhood by volunteering your time to these activities.
- Get active in after-school programs
How can you help those who share your small part of the world? Perhaps tutoring, offering legal aid, mentoring, teaching a language, organizing a food bank or visiting the elderly in your community resonates with you. Children can often be persuaded to join the community volunteer force by teaching older adults all the ways of the Internet.
Volunteer in a local clinic, hospital, nature center, library or community center. Volunteerism is a superb way to meet people and contribute skills and talents to those who might need them. Not only will you probably experience a sense of accomplishment after sharing the gifts you have to offer, your neighbors will likely notice your contributions and consider you a valuable member of the community.
- Become a community volunteer
If you have a community center or other public space available, use it to form friendships while you learn something new. Sometimes taking turns meeting in members’ homes, either weekly or monthly, is a good way to break the ice with small talk or enjoy truly enriching conversation. Think about planning a series of special gatherings or ongoing drop-in events.
Learn more about the people who live near you by starting conversations within your community. This is easily done through book clubs or groups that come together to make jewelry, create art, cook and learn new languages. Ask your immediate neighbors if they know about any clubs or meetups you can join. If there aren’t any, start one yourself.
- Start conversations
While you till, water, plant and harvest, try to get to know the members of your community. Tell stories of where you came from and ask others about their backgrounds. If you have kids, get them involved with a beginner’s food scrap garden and encourage neighbors to bring their children to participate too.
Join a community garden in your neighborhood, and if you don’t have one, start one. Growing organic produce on a shared plot is a great way to connect with people near you. It also helps everyone involved develop a deeper understanding of the importance of keeping the air, water and ground clean and safe in a community.
- Join a community garden
The good thing about getting involved in your new community is that if there aren’t gardens, clubs, organized activities, volunteer opportunities or other programs in place for you to meet people, you can always be the facilitator of these types of gatherings. Your new neighbors will probably be glad you took the initiative to provide ways to connect.
Source: www.bhgre.com
In order to take the mystery out of the closing process for buyers, here are some basics on the process:
- You do a walk-through the day before or morning of the closing to ensure the house is in the same general condition as when the offer was made and things are left that were supposed to be there (e.g. appliances).
- Your lender hires a closing agent who creates a statement outlining the loan amount, loan costs, recording fees, title insurance premiums, escrows for insurance & taxes, state transfer tax, tax prorations, and the deposit. This will show how much money you will need to bring to close.
- You are charged for any oil/propane/firewood/pellets left. This may be put on the closing statement or paid by check to sellers.
- Be prepared to sign lots of paperwork at the actual closing! The funds you bring should be on a bank check or previously wired to the closing agent.
Your agent will help you through this process, but knowing what to expect can alleviate many concerns. Give me a call if you want an experienced Realtor helping you! 603-526-4116, www.DonnaForest.com, Donna@DonnaForest.com
Buying a home is one of the largest investments you will make. Here are some tips to help you prepare:
- Don’t do it alone. Use an experienced agent who can provide you with invaluable advice through the process.
- Get pre-qualified with a lender before going out to look.
- Don’t overbuy. Look at all the expenses including heating costs, utilities, insurance, needed home repairs, etc.
- Check out the neighborhood at different times of the day and week before committing to buying. Get information on the town and the schools.
- Think re-sale. A house in a bad school district or on a busy street will impact the future value and limit your target audience.
While buying a home is an emotional experience, it is a business transaction as well. Preparing yourself in advance will help avoid costly mistakes. Call me if you are looking for an Accredited Buyers’ Representative to help find your new home. 603-526-4116; www.DonnaForest.com; Donna@DonnaForest.com
If you’re lucky enough to have reached the time in your life when you can seriously contemplate buying a vacation home, there’s much to be excited about. According to the National Association of Realtors, one in eight homeowners are thinking of buying a second home. While summer may be the time of year you start to think longingly about sun, sea and sand, it may not be the best time to buy a cottage.
Here are some things to consider when you’re buying a vacationhome.
Peak of season is seldom a good idea
Avoiding peak seasons makes sense in supply and demand terms. Peak season, whether you have your eye on a Vail ski chalet or a Cape Cod sea shanty, is when the area in which you’re looking is at its finest. Since vacation homes can be sentimental investments, many who’ve inherited them rent them out as additional sources of income so they can hang onto a property. They may be sharing it with siblings or have had to buy them out. They also may be part-time vacation home investment owners who got in early on a new resort but need to ensure 100 percent occupancy during peak season to make their investment pay off.
Aim for the final weeks of the high season to make your offer or hold off until just after peak season ends. If you’re looking for a summer vacation home, the time between Labor Day and Thanksgiving is the perfect window of opportunity.You’ll still take possession early enough in the year to be able to get a glimpse of what future summers can hold, and you’ll also have a chance to do any needed repairs before winter sets in. Then you can spend the winter planning what you need to do to make the place your own the following summer.
If you’re looking at a winter vacation home, spring is the best time to make an offer. While diehards may still be renting or occupying their vacation homes, hoping to get one or two more days of spring skiing or boarding in, most will have placed their properties on the market. Just be careful not to leave your offer for too late in the year if the area you’re interested in is remote. Some owners board up their properties for the off season, making it harder to get viewings. Also, don’t forget the power of spring mud. Properties accessible through three seasons may become harder to access during spring thawing and flooding.
Be sure the time is right
Before buying a vacation home, you need to think long and hard about a whole host of considerations. First and foremost is whether you will be able to use it enough to make it worthwhile for you financially. Even if you buy a vacation home and plan to rent it out to defray expenses, that means your time there will be limited. While you may love a cottage on a lake in fall, not everyone else does. If you can’t afford to spend the 4th of July at your own cottage, this may not be the time to buy.
Second, have you considered all the duplicate expenses involved? Whether you want your vacation home to mirror your principal residence in all ways, you can’t escape the fact that you’re going to need two of everything now. Unless, that is, you want to treat every weekend you spend at your vacation home like a camping trip (which may well be the case). You’re not going to want to haul lawn mowers and leaf blowers to the cottage every summer weekend. That goes double for appliances, linens and furniture. You’ll also have a second set of bills for property taxes, insurance, yard maintenance, internet and cleaning costs. In addition, there may be HOA fees, too.
Third, what are your vacation goals? If you want to visit every continent and are running out of time to tackle Asia and Africa, does a vacation property make sense? If you find you’re drawn to experiential vacations like hiking the Appalachian Trail, swimming with the dolphins or building someone else a home with Habitat for Humanity, a vacation home may be an anchor you don’t need.
On the other hand, if you know you can afford to invest in a second property and have a long-term plan to use it as a home base while you globe trot in retirement, or if you want your family to have the freedom of the great outdoors while they’re growing up, it might just be time to seize the day.
Source: www.bhgre.com/bhgrelife
Given the lack of homes for sale, we often see multiple offer situations. It pays for buyers to be prepared should they find themselves in a bidding war. Here are some tips to help put your offer in the best position.
- Keep contingencies to a minimum. Decide what inspections you can live without and don’t add in extra clauses.
- Find out the seller’s ideal closing date and use it for your closing date.
- Keep all contractual due dates in as short of time frame as possible.
- Be prepared to offer over the asking price. Money talks and usually the higher price wins.
- Cash offers beat offers with loan conditions. (Unless the offered price is significantly higher than the cash offer). Present a pre-approval letter with your offer if it is based on a loan.
- Even though you may be getting financing, you can write the offer as a cash sale with no loan contingencies. You must be confident you will get the loan with no issues.
- Include a letter to the sellers explaining why you love their house.
Bidding wars are emotionally tough as someone always loses out. Give your best and final offer so you have no regrets if you don’t get the home. Contact me if you want to work with an accredited buyer’s agent to help you navigate the challenges of buying a home. www.DonnaForest.com; Donna@DonnaForest.com; 603-526-4116
If you are considering the purchase of a specific house, it’s best to review the seller’s property disclosure before making an offer. While some disclosures may not be a wealth of information, usually disclosures provide pertinent facts that could impact what you are willing to spend on buying a home. For example, if the water heater is 18 years old, you need to be aware that it will need to be replaced in the near future. Looking at the age of the systems and the roof will help determine if you will be facing costly replacements sooner rather than later. Check when the septic tank was last pumped. If it hasn’t been pumped within the last 3-5 years, it could be a red flag. Is the property located in a flood zone? Flood insurance will be an additional expense to factor in your payments. Reading carefully through the disclosure could provide valuable insight into future costs. Ask questions and get clarification if something doesn’t look quite right. Obviously a home inspection will be the best tool for gauging the condition of a home. However, thoroughly reading the disclosure ahead of time could prevent unwelcome surprises. Contact me to work with a buyer’s agent who will help you make the right buying decisions. 603-526-4116, www.DonnaForest.com, Donna@DonnaForest.com
Finding your dream home can feel stressful, but there’s plenty of great real estate for sale to suit nearly every buyer. Breaking down the process of buying a new home into steps isn’t only helpful, but it will help it feel manageable. Below are 10 great tips to help you go from dreaming of owning a new home to actually holding the keys.
Make a wish list and prioritize your needs
Now is the time to think about what your perfect home looks like. Unless you have a bottomless bank account, you probably won’t be able to get everything you want. Perhaps you’ve always dreamed of having a fireplace, but when it comes down to it, what you really need is a home located near good schools.Taking time to make a wish list will help you prioritize needs over wants.
Set a realistic budget
Perhaps the most stressful part of buying a home is setting a budget, yet this doesn’t need to be a daunting task. Figure out how much house you can afford by examining your current salary and debts. A mortgage payment should never be more than a third of your income, while your debt should be less than 40 percent of your income.
Hire a great real estate agent
Unless you’re an orthodontist, you probably wouldn’t attempt to fit someone with a pair of braces, right? The same theory holds true for buying real estate. Great REALTORS® will demystify the process of finding your dream home, from working within your budget to putting in a bid. In addition, it’s their job to know the market and they can help you find your perfect home, even when there’s competition from other buyers in your area.
Make a checklist
You’ve prioritized your wish list, set a realistic budget, and hired a real estate agent. Time to sit back and relax, right? Wrong! Now’s the time to make a checklist of all the things you need to consider when finding your dream house. Your list should include the priorities from your wish list. For example, how close is the house to schools and grocery stores? Does the home have a fireplace? How much does the current owner pay annually in taxes? Preparing a list of questions before you purchase your new home will make sure you don’t have questions later.
Location, location, location!
Although it might seem obvious to carefully choose where you buy a home, you’d be surprised how many people cut corners. Is it a priority for you to find real estate close to schools? Or perhaps it’s a priority to be located off a busy street to avoid noise pollution. In short, a dream home isn’t ideal at all if it’s not located in the perfect place.
Think about how you use space
A parlor is lovely, but if it’s only used a couple times a year during holidays, perhaps you’d get more bang for your buck by focusing on a home with well-used rooms. For example, if you spend a lot of time cooking, then it makes sense to buy a house with a large, well-equipped kitchen. Likewise, if you’re a freelancer, then it might behoove you look into a home that has an extra bedroom that could be converted into an office.
Would you like to renovate?
Do you take pleasure in making home repairs or would you prefer to move into a home that requires very little work to move in? Renovating a home can be a tremendous amount of fun, but it can also get expensive. Be realistic about what repairs will cost and whether you have the time and energy to get the work accomplished.
Make an offer
Making an offer on your dream house is one of the most exciting days of your life. It’s also one of the most nerve-wracking. Although the current owners could say “yes,” there is a possibility that they might decline your offer. To make your offer attractive, avoid pushing out the current owners too quickly by asking for a fast closing date. Also, don’t lowball them by offering far less than the listing price. Your real estate agent should be able to give you advice about what will make an attractive offer.
Don’t neglect the home inspection
Once your reoffer has been accepted, it’s time for a home inspection before you finalize the contract. This is the time to look deep and have a professional home inspector look at the foundation, roof, electrical wiring, heating systems, insulation and other items that are generally hidden from view. While it might be tempting to seal the deal as quickly as possible, having a home inspection can save you from expensive problems down the line.
Celebrate!
The entire process, from browsing the real estate for sale in your area to moving into your dream home can be daunting. Once you have the keys to your new home in hand, make sure to celebrate with your loved ones for a job well done!
When considering the purchase of a fixer upper home, it’s important to evaluate how much time and money you will have to spend on renovations. It’s often the case that houses needing a lot of TLC are available at rock bottom prices. However, this can mean excessive costs when it’s time for renovations. Here are a few things to consider before taking the leap.
How much work can you do?
Determine how much of the work you are willing and able to do. If you’re a master at hanging drywall and your significant other has a knack for plumbing, it’s very possible to save big. This could be the difference between an inexpensive property that needs a great deal of work, but is ultimately within your budget after renovations, and one that is not.
Keep in mind when deciding which work you’ll do yourself that safety is key. Anything that you don’t truly know how to do, especially things like electrical work, plumbing or jobs involving power equipment, should be left to a professional.
Consider how much time you realistically have. If you work, take care of your family or otherwise have engagements that occupy most of the day, don’t take on huge DIY renovations.
Choose contractors wisely
Before closing on your fixer upper, speak with a few contractors to get an estimate of the work you plan on handing off to a professional. Without knowing how much you’ll need to spend to make the house look the way you want, you can’t know what the real cost of ownership will be. Once you have quotes from several contractors, work with your real estate agent to come up with an offer that considers how much you’ll be spending to get your new home in top shape. Your agent might suggest putting a clause in the contract to have some of the worst problems repaired by the current owners before the closing.
Before settling on a specific contractor, talk to friends, family and neighbors to get a sense of the quality of work you can expect from each candidate. Reviews go a long way when choosing the best company for specific needs.
Hire a home inspector
In most situations that involve a mortgage or other loan from a bank, you will be required to have the house inspected before the loan is approved. Even if this isn’t the case, hiring a qualified home inspector is a critical aspect of ensuring you know what you’re getting yourself into with a fixer upper. For instance, you might be able to tell that the floors in the kitchen will need to be replaced, but only a skilled professional can say for certain whether the foundation is solid or if asbestos is in the attic.
When it comes to real estate, knowledge is power. Take any information provided by a home inspector and consult your agent about how to proceed. They might recommend working part of the cost into negotiations.
Add a cushion
After you’ve decided which portion of the fixer upper’s remodeling you’ll be able to complete, consulted several contractors and had the home inspected, you may be anxious to close. However, there’s another critical step to ensure you’ll be able to afford the renovations.
Unforeseen circumstances often arise during the process of remodeling. It is essential to account for these when determining what you can afford. A general rule of thumb is to add between five and 10 percent to the anticipated costs, just in case your contractor discovers pipes that need to be moved or if the price of the materials you choose increases. By adding a cushion to your financial projections, you should be in a great position to realistically determine whether a fixer upper home will truly be worthwhile.