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Wrapping It All Up: Don’t Forget These Important Tasks After Closing on Your New Home

Wrapping It All Up: Don't Forget These Important Tasks After Closing on Your New HomeThe negotiations are over. The seller has accepted your bid and the paperwork has been signed. Shortly, you’ll be handed the keys to your new home and you can start moving in. But of course, the work doesn’t end after the real estate closing process. In fact, it’s just beginning! In today’s article, we’ll share a few essential tasks that you’ll want to get to work on after the closing process is over.

Backup And Copy All Of The Paperwork

If you haven’t bought a house before, you’ll soon discover that there is a lot of paperwork involved in getting the deal done. From title deeds to tax documentation, the sheer number of forms that need to be read through and signed may seem endless. Once the closing process wraps up, it’s a good idea to make copies of all of the paperwork. Store these backups in a safe place where they can be referred to later if needed.

Change All Of The Locks

Next, you’ll want to change all of the exterior locks on the house. It might seem a bit overkill, but securing your home is important. Re-keying the locks is a one-time cost that can end up paying significant dividends should anyone attempt to break in. It’s also a chance to upgrade to stronger, more secure deadbolts. If you have a home alarm system or any keypad-style locks, be sure to change the codes on those as well.

Inspect The Water Heater

While it was almost certainly checked during the home inspection, take the time to have a quick look at the water heater. You’ll want to check the temperature setting to ensure it’s reasonable. Don’t forget that maintaining a high hot water temperature can be expensive over the long-term.

Give The Gutters A Quick Check

Finally, it’s worth getting out the ladder to give all of the gutters a quick inspection. Clogged gutters can end up causing significant roof damage if left unchecked. You’ll want to ensure that both the horizontal gutters and the vertical drains are clear of leaves, twigs and other debris. As long as rainwater can drain out smoothly, you’re all set. Note that safety should be your priority here. If you don’t have a suitable ladder or you aren’t comfortable with heights, consider paying a professional.

The closing process is always an exciting time. If you’re in the market for a new home or would like to know more about real estate opportunities in the local area, contact your local real estate professional.

 
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Posted by on August 22, 2017 in Home Buyer Tips

 

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Getting Tired of Renting? Here Are the Top 5 Reasons Why Young People Prefer Owning a Home

Getting Tired of Renting? Here Are the Top 5 Reasons Why Young People Prefer Owning a HomeAt some point in their lives, every renter thinks about home ownership and whether or not it’s worth it. Let’s explore the top 5 reasons why young individuals prefer the idea of owning a home over renting.

It’s All About Control

It’s unlikely to come as a surprise that having control over their living space is the number one reason that younger buyers prefer owning over renting. Living in a home owned by someone else limits your ability to customize your home. Want to expand a room or rip out the kitchen cabinets? Good luck with getting your landlord to pay for that!

Privacy And Security Are Key

More than 90 percent of millennials reported that having a sense of privacy is an important factor when choosing between buying and renting. And this makes a lot of sense, especially in areas where a landlord has the right to enter the premises on short notice. It’s tough to imagine feeling secure when a landlord can demand access to their home for whatever reason they so choose.

Your Own Space Is Just Nicer

Take a look around your home. Is it as luxurious as you’d like it to be? While you can furnish a rented apartment or house however you want, in many cases, renters just don’t put the same amount of effort into it. 81% of young renters shared that one reason they want to buy is so that they can live in a nicer place.

You’ll Be More Engaged In The Community

If you want to feel more engaged in your local community, buying a home is an excellent idea. More than 75 percent of young and first-time buyers reported that community engagement is a key reason that they want to be a home owner. Not only are you more likely to care about the area around your home if you’re responsible for its upkeep. But as the value of your home is influenced by the surrounding area, you also have a financial incentive to staying engaged in the health of your community.

Owning Gives You Flexibility

Finally, consider that owning your own home will offer flexibility that you can’t get from renting. Not only will you be able to customize your home the way you want, but you’ll also have a productive financial asset. And that can be a huge help in securing additional credit if you want to make significant investments or other financial moves.

When you’re ready to expand your freedom by purchasing your own home, contact your trusted real estate professional. We’re happy to help.

 
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Posted by on August 17, 2017 in Home Buyer Tips

 

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Go Big or Go Home: 3 Reasons Why Your First Home Should Be a Spacious One

Go Big or Go Home: 3 Reasons Why Your First Home Should Be a Spacious OneBuying a home for the first time? One of the key considerations you’ll need to make is just how much ‘house’ you want to buy. While going minimal might seem like a good idea to save on costs, having a smaller living space can end up cramping your lifestyle in many ways. Let’s take a look at three great reasons why your first home should be roomy, spacious and luxurious.

You Might End Up With More Family Than You Think

Have you considered whether or not you want to have a family? Whether you’re a single young professional or part of a newlywed couple, there’s always a chance you’ll end up with more kids than you think. If you’re buying a home for the long haul, you’ll want to ensure that you have enough bedrooms to contain a growing family. It’s much easier to make other use of a spare room than to invent an extra bedroom if you end up with one or two more children than you had planned. Even if you don’t have kids, you may end up welcoming other family members into your home for extended periods.

Small Spaces Limit You In Just About Every Way

As you might imagine, small living spaces will limit your options. Whether you want to build out a new media room or just want more luxurious furniture, much of the time living small means living without. Buying a larger home from the start will give you all of the space needed to build your dream home. And over time, you’re far more likely to enjoy living in a home that you can tweak and customize to suit your changing tastes.

You Can Always Monetize The Extra Space

Don’t forget that extra space can always be put to good use. If you have a finished basement, you can possibly rent the suite out to a tenant. Or, you can host guests in your extra bedrooms using apps like Airbnb. If you’re more of an entrepreneurial type, you can start a small business out of one of the spare rooms.

These are just a few of the many reasons why buying a larger home is an excellent idea. For more information about luxurious homes that are for sale in the local area, contact your trusted real estate professional today.

 
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Posted by on August 11, 2017 in Home Buyer Tips

 

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Yes, You Should Take the Plunge and Buy a New Home in 2017. Here’s Why

Yes, You Should Take the Plunge and Buy a New Home in 2017. Here's WhyAre you thinking about buying a house, apartment or condo? In many markets across the country, there’s never been a better time than now to become a homeowner. In this post, we’ll share a few reasons why the conditions are right to jump into the market and buy a new home.

Interest Rates Are Heading Up

If you’re like most home buyers, you’re probably looking to make use of mortgage financing to help spread out the purchase cost over a longer period of time. If so, you’ll want to make a move in 2017 so you can lock in a low interest rate. The Federal Reserve has indicated that interest rates are going to continue to rise over the next year or two. If that prediction holds true, mortgage costs will continue to grow along with rates. Buying in 2017 means that you’ll be able to secure a lower mortgage rate which in turn will save you money.

It’s A Buyer’s Market In Most Areas

Depending on the community that you’re looking to buy in, you may find that it’s a bit of a buyer’s market. There are a number of individuals looking to sell their homes to lock in the price appreciation that’s taken place during the recovery since the 2008 financial crisis. More listings on the market mean that sellers will be open to negotiation as they won’t want their home sale to take weeks or months. If you’re pre-approved for your mortgage financing and are serious about buying, you may be able to convince a seller to take a lower offer than they normally would.

You’ll Start Building Real Net Worth

Of course, one of the best parts of buying a home is that it’s a significant financial investment. Properly maintained, your home should continue to increase in value over time. As you continue to invest in upgrades and renovations, you’ll build more and more equity that can be used as leverage for additional credit or just pocketed when you eventually decide to sell. Even though every market has its ups and downs, owning real estate is a far greater path to prosperity than renting.

When you’re ready to get into the market and find your dream home, we’re here to help. Contact us today and we’ll be happy to introduce you to some beautiful new homes that suit your tastes and budget.

 
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Posted by on August 9, 2017 in Home Buyer Tips

 

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3 Ugly Truths You’ll Discover Trying to Buy a Home Without a Real Estate Agent

3 Ugly Truths You'll Discover Trying to Buy a Home Without a Real Estate AgentMany people, whether they are new to the market or have purchased a home before, consider investing in a home without the help of an agent. While there are benefits involved with going it alone, there are also a number of drawbacks that can significantly impact the success of your home purchase. If you’re wondering about the difficulties involved in going “agent-less”, consider the following points.

It’s A Lot Of Legwork

It might seem simple if you’ve found a house and you like it, but a lot more goes into investing in a home than just finding a place. While you can do research on your own, an experienced real estate agent will have knowledge of the market and the neighborhoods you’re searching in and will be able to share an insider’s perspective. As a result, they may be more successful at providing you with insights about the local community and the price you should be paying. All of which would be hard to determine on your own.

Navigating The Process

Home ownership can be considered as easy as signing on the dotted line, but there are so many steps that go into making the final purchase that having someone experienced along to assist can be very beneficial. In addition to pay stubs, tax returns, employment records and bank statements, you’ll need to deal with legal forms, deeds and a ton of other information the home sellers and your lender will need. Fortunately, an agent will be familiar with what’s needed and will be able to simplify the process wherever possible.

The Right Home Takes Time

The right agent may make finding a home look pretty easy, but it takes a lot of knowledge and experience to be able to find what works for you. As a result, it’s very easy to underestimate the amount of time you’ll need to invest in research and open houses and even negotiating to find your next home. If you don’t have the time to do what’s needed to find the right place for you, it may be worth enlisting the services of a professional.

It can be tempting to forego the costs of an agent when it comes to buying a home, but the right agent can save you time and help you find the right place at the right price. If you’re currently preparing to invest in a home, contact your local real estate professional for more information.

 
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Posted by on August 4, 2017 in Home Buyer Tips

 

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Investing in a New Home? 3 Reasons You Can’t Skip the Pest Inspection

Investing in a New Home? 3 Reasons You Can't Skip the Pest InspectionThere are so many small details involved in the final purchase of a home that it can be easy to lose track of the things that need to be done. While you won’t be able to forget about a home inspection, a pest inspection can be every bit as important before you sign on the dotted line. If you’re wondering why you shouldn’t forego this important step, consider the following information.

The Final Offer

Few people want to deal with problems, especially when it comes to their dream home. But the entire purpose of a pest inspection is to ensure you know about these problems before you sign on the dotted line. If pest issues are discovered, you’ll still have some decisions to make as to how you want to proceed. You can push the problem back to the homeowner to deal with, or buy the home knowing about the pest issue and use it to negotiate a lower price.

Insurance May Not Help

Homeowner’s insurance will cover your home and belongings in the event of a natural disaster, fire or flood. And in some cases, your policy will cover damage due to pests. However, much of the rot and other damage that pests cause occurs over a long period of time. In these cases, your insurer may not cover the damage, or you may be on the hook for a significant deductible. In any case, your policy may require that you get an inspection when you purchase the home so be sure to check with your insurer.

Feeling Home At Home

Much like experiencing a burglary, discovering a pest problem in your home can be an unsettling experience. Unfortunately, if you’ve just moved into your new home, it can be even more difficult to get comfortable if you think pests are crawling around. It’s important to schedule a pest inspection so you can be sure there are no impediments to enjoying your new home. Yes, it’s one more cost involved before the deal is sealed, but the money spent will be well worth your comfort.

These are just three of the many reasons to invest in a professional pest inspection when buying a new home. It’s a small price to pay to ensure that your home is free of damage-causing pests. If you’re currently getting ready to invest in a new home, contact your local real estate professional for the inside scoop.

 
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Posted by on July 25, 2017 in Home Buyer Tips

 

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Buying a Home in a Fire Risk Area: Here’s What You Need to Know

Buying a Home in a Fire Risk Area: Here's What You Need to KnowOutside of the significant financial responsibility of delving into home ownership, there can also be a lot of other risks involved that you may not have thought about before investing in a home. You’ll need to protect your home against theft or burglary, and homeowner’s insurance to protect your home and belongings. But there are other less common occurrences you may not have thought about. If you happen to be living in an area that’s at high risk of fire, here are some things to consider beforehand.

Defining “High Risk”

It’s easy to be swept away by a beautiful home and forget about what the natural landscape around it consists of. Many homes across the United States are built in areas close to trees and shrubs, which can be dangerous in times of high temperatures, so it’s important to do your research. While hot spots can occur in many different areas, California and the southwest region are particularly vulnerable in times of drought.

What It Means For Your Mortgage

Nearly all homes can be adversely affected by a fire so it’s important to realize that buying in a high-risk area will not impact your ability to get a mortgage. It can, however, impact some of the costs associated with investing in your home. While homeowner’s insurance is a requirement of buying a home and it will generally cover you in the incidence of a fire, it can be a bit pricier. Fortunately, you may be able to guard against some of the additional costs by purchasing a home with materials that are more fire resistant.

In The Event Of Fire

If the worst happens and your home incurs damage from a fire, you’ll want to assess the extent of the damage before making a decision on how to proceed. For a home that is minimally impacted, you may want to use insurance to repair the property. However, if the property is significantly or completely destroyed, a payout may be required in order to pay off the mortgage. Before purchasing a home in a fire-prone area it’s best to be aware of all aspects of your insurance policy so you can be prepared.

It’s a more significant risk to buy a home in a fire-prone area, but you can be prepared for the worst by knowing your options. If you’re currently considering purchasing a new home, contact your local real estate professional for more information.

 
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Posted by on July 18, 2017 in Home Buyer Tips

 

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