Oct 8, 2013 | Home Buyer Tips
If you are looking to buy a home, you might be wondering whether you should be looking for properties that are right in the center of the city or whether a better option would be to buy a property on the outskirts or in a rural area a short drive away.
The rural or urban decision will ultimately be up to you, as there are advantages and disadvantages to either option. The main difference will lie in your priorities – what type of lifestyle is most important to you?
Living In The City
One of the main perks of buying a property that is located in the heart of the city is that you will be able to enjoy convenient public transportation and you won’t have to use a car to get everywhere.
You are likely to have a shopping center and a supermarket within walking distance of your home, as well as other important amenities such as a doctor’s office, a pharmacy, a post office and more.
Also, if you enjoy attending concerts, visiting art galleries or enjoying other artistic events, you will find much more of these concentrated in the city center. You will also enjoy more options when it comes to shopping.
Of course, living in the city center means that property prices are usually a lot higher and you will likely end up with a lot less space for your money. Your kids might not have as much room to run around (unless you find a home near an urban park or a playground). Also, the hectic pace of the city, with all the traffic and high rise buildings, can be stressful for some.
Living Outside Of The City
When you buy a home just a few miles outside of the city, you will find yourself experiencing a completely different lifestyle. You will be a lot closer to nature, with plenty of walking trails and wild areas right outside your back door. The air will be cleaner and you will be able to see the stars better at night time.
Many people feel safer letting their children play outside in the countryside and the cost of housing is usually lower than in the high density downtown core. Some people also prefer the peace and quiet of the city and would much rather go for a walk in the woods or have a campfire than attend a cultural event – so the country is the right place for them.
Of course, the disadvantages of rural life is that it can be inconvenient and time consuming to drive into town to get supplies to meet up with friends. You must own a car in order to get around, as the public transport system will not be as good as it is in the inner city.
These are just a few factors to consider when determining whether you would choose the city life or the country life.
For more information on buying a home, whether in the heart of the city or on the outskirts, contact your trusted real estate professional.
Sep 26, 2013 | Home Buyer Tips
Investing in property at a young age seems like a bit of a daunting prospect sometimes. Most young people don’t have a lot of disposable income, often have poor credit and perhaps even student loans.
When you are in your early 20s, you are not likely thinking about investing in property and are probably focusing on other things. However, investing in property at a young age can bring you a lot of advantages.
It requires a different approach and style and you might be the only one of your peers who is doing so, but you will definitely reap the benefits later on in life. When you invest long-term, you will start building your financial independence.
Some might believe that it is impossible for a young person to start investing so early in life, but investing in your 20s is completely possible.
You are not “too busy”, in fact you will find that you have even less spare time as your responsibilities grow when you get older. You will need a little bit of money to get started, but often you can purchase your first property with as little as 3.5% down.
If you want to get started early, here are some tips that will help you along the way:
- Get into very good saving habits from a young age by putting aside your money from first jobs. When you want to take out a mortgage, you will typically need to be able to show savings of 3% of your purchase price.
- Maintain a clean credit history and pay all of your bills on time in order to build a great credit rating, so that you can obtain a mortgage with a good rate.
- Make the most of technology and social media to learn more about investing in property and to find the best opportunities. You have a wealth of information on investing, all at your fingertips.
- Find an older mentor – someone with successful experience who can give you tips on how to choose the right investment.
Another main advantage to investing when you are young is that if anything goes wrong, you will have more time to make mistakes and still recover without affecting your retirement. You have nothing to lose and everything to gain, so why not get started?
Sep 20, 2013 | Home Buyer Tips
You’ve been searching for the perfect home for quite a while, and finally, you’ve found it! You get all of your finances in order and place an offer on the house.
However, you’re not the only one that loves the home, because there are multiple offers — and one of them is cash.
Cash buyers are seen as desirable because they’re almost always a guaranteed quick close. They don’t have to borrow money from a bank therefore won’t have any financing hang-ups, which is where a large portion of offers fall through. Don’t worry; not all hope is lost.
Follow the steps below to beef up your offer and get your foot in the door.
Less Expensive Homes
If you’ve put offers in on homes at the asking price and are continually beat out by buyers that are paying more, then you might want to consider looking in a lower price range. This is an especially smart strategy for those living in fast-selling markets. By looking at less expensive homes, you can be the one that puts in an offer over the asking price.
20 Percent Down Payment
Save up a higher down payment for the price range of homes you’re considering. If you can come up with 20 percent, then you’re in a position to wave the appraisal contingency for financing with the bank. The more you have in cash, the better.
Take-It-Or-Leave-It Home Inspection
This means that based on the home inspection, you’ll take the property with all its issues, or you’ll walk away. What you won’t do is ask the seller to waste more of their time and money fixing every little problem that’s found.
Fees
Waive the seller concessions, such as closing costs and the home warranty, and pay your real estate broker’s fees. These extra costs add up in the mind of the seller and will show that you really want the property.
Going up against cash buyers can be extremely discouraging. But, just because they’re dealing in cash doesn’t mean they’ll get the property. Many investors think they can put in a low offer because they’re dealing in cash.
So show you’re serious about a property, follow the steps above and put in your best offer. You’ll be a homeowner soon enough!
Sep 19, 2013 | Home Buyer Tips
When you are buying a new home, it is important to take into consideration the four-legged residents that will be living there, as well as the two-legged ones. What things should you keep in mind if you are house hunting and you own a pet?
Layout Of The House
When you are looking at the house layout, think about how it will accommodate your pet. If you have an old dog that can’t climb stairs very well, look for a home that is mostly one level.
Cats like to have little alcoves and quiet spaces where they can hide away. Think about where you would put the kitty litter box or the food bowls so that they would be practical and would not get in the way.
Be sure to also look at the yard. Is it fenced, so that you can let your dog outside to run around? Is there an outside hose that you can use for bathing your pet?
Is there room for a dog house? You might also want to avoid a house near a busy road, in case your pet escapes and runs into traffic.
Pet Friendly Neighborhood
Take a look around the rest of the neighborhood. Do you see that many other people have dogs and cats? Are there a lot of friendly people out walking their dogs? Is there a vet, a pet shop and a dog park nearby?
When they see your dog or cat, do people smile and say hello? A neighborhood full of pet-friendly people is a great place for you and your furry friend to live, because you will feel welcomed. You might even make some new friends to go on walks with!
City Ordinances
It is a good idea to know about the local city ordinances when it comes to cleaning up after your pet. In many places, failing to scoop up your dog’s droppings when taking him for a walk can lead to a very expensive fine! This is a mistake that you don’t want to make when you move into a new home.
Clarify The Rules For Unusual Pets
Most people have dogs and cats, but if your animal companions are a little less common, you might need to check the rules. If you own a goat, chicken, donkey, sheep or any other farm animal as a domestic pet, check with the proper officials about the zoning regulations and ordinances in the area you are buying your home.
These are just a few things to consider on behalf of your pet when you are buying a home. For more real estate advice, contact your real estate professional.
Sep 17, 2013 | Home Buyer Tips
Most of the time when buying a property, there are a few obvious factors that you will consider – such as the location, the number of bedrooms, the accessibility to schools or your workplace, the need for repairs and any interior features. However, there are a few things that might not have crossed your mind during your house hunting but are still quite important.
Water Quality
Most home buyers don’t even think about the water quality at the property until they get to the inspection stage. However, if you find out that the home has hard water this will dull your clothes when you wash them and irritate your skin.
Hard water will also create calcium deposits within your showers and faucets and even inside your washing machine and dishwasher. Have the water tested so you know its quality and can look into options for a water purification system.
Cell Phone Reception
When looking at a house, don’t forget to pull out your cell phone and check to make sure that you get good reception. There are a number of “dead zones” throughout the country and you don’t want to buy a house where you can’t make a phone call on your cell.
If you have found your dream house but it has poor phone coverage, there is the option to buy a wireless cell phone signal booster.
Lead, Asbestos And Other Health Risks
When buying homes that are older, make sure that you have the home thoroughly inspected for any health risks such as lead paint or asbestos insulation.
These materials were commonly used several decades ago, before anyone realised how toxic they really are. If you find any toxic substances you can have them removed safely or look for a healthier home.
Slope Of The Land
Take a walk around the property and look at the land around the house. Is it flat, or does the earth dip or slope in one corner of the property? Keep in mind that when it rains, water will flow to the lowest point on the property.
If the house is at the bottom of a slope you might have issues with dampness collecting around the foundations. This can be corrected only with serious landscaping, so it’s much easier to buy a house on higher ground.
These are just a few factors to consider that you might not have thought of when buying a house. For more real estate tips on property, contact your real estate professional.
Sep 13, 2013 | Home Buyer Tips
When people are buying a home, one of the things that they sometimes forget to consider is the need to be able to accommodate guests. You likely have out of state relatives or friends who might come and visit you and you will probably want to be able to give them a place to sleep so that they don’t have to pay for a hotel.
You will also probably want to have your parents or your relatives stay over on special occasions such as Christmas. You might even need to host guests for long periods of time, such as if an aging parent needs to move in with you or you need to give a struggling friend some support while they get back on their feet.
Having a home that is well suited to having guests stay will make being a host a lot easier. Having someone sleep on a fold out couch in your living room can be inconvenient for both you and your guest, so what should you look for in a home so that hosting someone will be comfortable?
- If you have a small home, you might not have room for an extra guest bedroom that is only used occasionally. Instead, choose a home with a multi-purpose room that can be used as a home office, a storage space or a hobby room as well as a guest bedroom.
- You could use clever storage solutions and a Murphy bed or futon to make the transition into guest bedroom when your friends and relatives arrive. Another option is to choose a home with a finished attic, which can easily be turned into a great small bedroom for guests.
- Does the house have enough bathrooms for everyone? Waiting for the bathroom while someone else has a shower can get annoying really quickly when there are extra people in the house. A guest bedroom with its own ensuite is ideal.
- Have at least two or more “chill out” spaces so that everyone doesn’t have to enjoy the same activity. If some of your family members are watching a movie but a couple others want to have a quiet chat or play a board game, make sure that there is another spot where they can sit. It doesn’t have to be huge, just another set of chairs or a sofa somewhere.
- For the guest room, choose a bedroom that is furthest away from the rest of the main traffic areas in the home. This means that if you wake up earlier or get in later than your guests, you can cook or go about your daily chores without making a lot of noise right outside their door.
- Make sure that the dining area is big enough to accommodate a larger table to seat your extra guests.
These are just a few things to consider when choosing a home that will make hosting guests easy. For more info about buying a home, contact your trusted real estate professional.
