Tips For Buying A Home In The Spring

Spring is a time of change. Everything feels new and exciting. It’s a great time to start searching for a new home. Before you head out on the house hunt, you should take the time to review what you can expect if you’re heading out on the house hunt this spring.

There May Be Less Inventory

If you’re a first-time homebuyer, you may be in a tight spot. As inventory is low over the entire market, there are less lower end homes put up for sale in the spring. Prices are rising as well so people who may have been in the market for more expensive homes may have recently seen their number of choices drop. It may take some extra time and effort for first-time homebuyers to find a property. 

Homes That Are On The Market Sell Fast

The springtime brings a bit more competition from buyers. Although there’s low inventory, the spring brings out more buyers which means more competition. If you find a home you love, don’t wait. Houses that are in excellent condition sell within days of being on the market this time of year. You may even need to pay a bit above asking price in order to secure a home you fall in love with. Being flexible in your contingencies and closing dates can help you to entice sellers a bit more when you put an offer in on a property. 

Keep The State Of The Financial World In Mind

Interest rates may rise by the time spring rolls around. You really never know. If you see a reasonable mortgage rate and can get pre-approved, lock it in. It can help you to balance out your finances when you’re purchasing a home. Keep in mind that higher rates may actually decrease your home buying power altogether. Do your research and talk to a lender to get the best rates especially when you’re buying a home in the spring.

Overlook Some Things

If you’re heading out to buy your first home in the spring, you may have along list of things that you’re looking for in a home. Try and be as flexible as you can with that list. If you’re serious about buying a home, you may have to look at properties with their potential in mind rather than their face value. 

Make Sure You’re Preapproved

Getting a preapproval is very important when you’re heading out to buy a home in the spring. This step can give you a leg up on the competition once you put an offer in. Having this piece of the puzzle during your home search can help you to get a home you love. 

Should You Move to an HOA Community?

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People have different notions about living in an HOA community. As much as there is a bright side to living in such an environment, you also need to consider the potential disadvantages. Some HOAs have an organized and well-maintained neighborhood, while others may have lackluster management and community issues. Before you make your decision to move to an HOA community, understand the pros and cons of living in that environment. 

What is an HOA?

An HOA (homeowners association) is an organization that oversees maintenance and enforcing rules within a group of homes. HOAs are quite common in planned condominium complexes and townhouses, but they also are found in planned communities of single-family houses. The HOA is made up of the owners who reside within or own property in that community. 

Advantages of Living in an HOA Community

Typically, the association has jurisdiction over and maintains all common areas. These include pools, clubhouses, playgrounds, park areas, and all the adjoining landscaping. In many HOAs the association also maintains landscaping in the front of the home while the owner maintains their private backyard area. Some advantages

  • You Don’t Have to Mow the Lawn: For people who do not enjoy the tedious job of maintaining their landscape – you are in luck. The HOA community takes full responsibility for maintaining the landscape within the shared areas. You might be allowed to personalize your backyard or patio – but typically, the HOA covers all other maintenance, including pest control and tree pruning. 

  • You Pay Monthly Fees That Include Utilities: In most HOA communities, homeowners are expected to make a monthly payment that covers all their expenses for that month. For some people having a defined estimate every month that covers utilities and other housing expenses makes it easy for them to have a financial plan. 

  • You Have Access to Amenities: Living in an HOA environment gives you access to various recreational amenities like golf, table tennis, swimming pool, a gym, and clubhouse. You do not have to worry about cleaning or management as your association does all of these from your monthly funds. 

Disadvantages of HOA Community Living

Just as there are advantages to living within an association, a homebuyer needs to be prepared for challenges that come with areas in common.

  • Fees: The fees charged by most HOA communities factor in expenses like maintenance of recreational facilities and cleaning of the shared spaces. Be sure you can make these monthly payments before moving to an HOA community. 

  • No Personal Touch to Your Home Exterior: Most HOA communities restrict homeowners from adding unique touches to the outside of their homes. If you like a brightly colored front door or interesting yard decorations, an HOA community may not be the right environment for you. 

  • Poorly Managed Community: Not all HOA communities operate smoothly. There can be various challenges within the system. When you find a community you’re interested in, speak to established owners. Ask how their particular HOA functions to get a better idea of what to expect as an incoming resident.

  • Less privacy: Most homeowners living in HOA homes share walls or buildings with other homeowners. If you love privacy, this might be challenging for you. 

  • You live by the rules: There are always rules to adhere to when living in an HOA community. Be sure this idea works for you as most regulations are non-negotiable.

Depending on your lifestyle and what you want in a home an HOA community might be perfect for you. Carefully consider the pros and cons of living in such a community before committing. Ask your realtor about the HOAs in your area to better target your property search.

Research a Home Before You Visit it to Save Time

House hunting can be time-consuming. With so many houses currently on the market and so little time to spend visiting homes, it’s important to narrow down your search as much as possible before attending a showing.

Fortunately, in today’s digital world, it’s possible to learn a great deal of important information right from your phone or computer.

In today’s post, I’m going to give you some advice on researching the homes you’re thinking about making an offer on. We’ll talk about researching the neighborhood, and–of course–the house itself.

Putting together all the stats on the home

Let’s start with, arguably, the most important thing to research: the house itself. When you want to learn about a home, the best place to look is usually the real estate listing. Since most of us discover homes through listings, odds are you’re already on this page. However, there’s a lot of information in a listing, so take the time to go through it and gleam whatever you can from the home’s description.

Next, Google the house address and click on listings from other real estate sites. Oftentimes, a house that has been sold before will have multiple listings across the internet with different data.

Once you’ve scoured the listings, head over to the county assessor’s website to look at records of the home’s ownership. This will tell you who bought and sold the home and when. There’s much you can learn from this data, especially if a home is being sold frequently. You can also use this information to contact previous owners to ask them questions about the home that the current owner might not know the answer to.

Snooping around the neighborhood

If the house is nearby, simply driving through the neighborhood can tell you a lot. You can visit the neighborhood during rush hour to see what the traffic is like, for example.

However, it isn’t always practical to take the time to visit a house that you aren’t sure you’re interested in. So, what’s the next best thing? Google Maps.

Visit the neighborhood on Google Maps to see what’s in the area. Are there a lot of closed businesses? That could be a sign of a neighborhood in decline. Check for nearby things like parks, grocery stores, and other amenities that could influence your buying decision.

Next, use Google’s “street view” feature and explore the neighborhood. You can see what kind of shape the other homes are in, and find out the condition of infrastructure like roads and sidewalks.

Note addresses of comparable homes in the neighborhood and look up their purchase prices. This will give you an idea of whether the home is being priced appropriately.

If you’re having trouble finding information on a home, such as sale records, try contacting the local assessor. They should be able to point you to a database that will help you in your search.

Four Things Homeowners Wish They Knew Before Buying Their First Home

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.

3 Questions to Consider Before You Ask a Home Seller to Complete Repairs

For homebuyers, a home inspection is paramount. This inspection enables you to look closely at a house and identify any problem areas. It also may force you to rethink your decision to buy a house, particularly if you discover a wide range of problems during the inspection.

Ultimately, it pays to consider your options following a home inspection. In fact, if you take an in-depth approach to potential home repairs, you can determine whether to ask a seller to complete these repairs before you finalize a purchase agreement.

Before you ask a seller to perform home repairs, there are several questions that you should consider, and these are:

1. How much will it cost to complete assorted home repairs?

A damaged roof is much more expensive to repair than a defective light fixture. Fortunately, if you assess the costs of potential home repairs, you can differentiate major home repairs from minor ones and plan accordingly.

If a home requires thousands of dollars in repairs, it may be worthwhile to ask a seller to complete these repairs. Otherwise, you’ll be responsible for allocating the necessary time and resources to perform costly home repairs after you finalize your house purchase.

On the other hand, minor home repairs may be easy to handle on your own. If you feel comfortable completing minor home repairs, you may want to avoid submitting a request to a seller to perform these repairs. Because if you ask a seller to complete myriad minor home repairs, he or she may walk away from a potential home sale.

2. Are there any required repairs that must be completed right away?

Required repairs, i.e. repairs that will address hazardous conditions in a house, sometimes will need to be completed following a home inspection. These repairs include water penetration issues and local code safety violations.

If required repairs go unaddressed, your lender is unlikely to provide you with the financing that you need to acquire a house. Thus, you should request a seller complete these repairs as soon as possible.

3. Is it worth my time to ask a seller to complete home repairs?

There is no right or wrong answer to the aforementioned question, as every homebuyer and home seller is different. If you are uncomfortable with a house following an inspection, you should examine the inspection report and determine the best course of action. And if you feel that asking a seller to perform home repairs is essential, it is important to do just that.

Lastly, if you need assistance throughout the homebuying journey, it helps to work with an expert real estate agent. This housing market professional usually will attend a home inspection and help you assess a house. Plus, an expert real estate agent is happy to provide recommendations and suggestions to ensure you can make an informed home purchase.

Take the guesswork out of evaluating a house following an inspection – consider the aforementioned questions, and you can determine whether to ask a seller to complete home repairs after an inspection.

Reasons to Negotiate with a Home Seller

If your initial offer to purchase a home is countered, there is no need to stress. In fact, there are lots of reasons why you should negotiate with a house seller, and these include:

1. You can speed up the homebuying journey.

The homebuying journey may prove to be long and complicated. If you find a house you want to buy, however, there is no need to wait to submit an offer to purchase this home. And if a seller wants to negotiate with you, it may be worthwhile to work with this individual so you can acquire your ideal house.

A homebuying negotiation enables you to try to reach a house purchase agreement with a seller. Plus, if you and a seller cannot come to terms, you can always reenter the housing market and continue to search for another home that matches your expectations.

2. You can find common ground with a home seller.

When it comes to buying a home, it is important to avoid submitting a “lowball” offer to purchase. If a buyer submits a lowball property buying proposal, he or she risks alienating a seller. Worst of all, a seller may be more likely than ever before to reject the buyer’s proposal and move forward with other offers to purchase.

Thanks to a homebuying negotiation, you can come to terms on a home purchase agreement that works well for both you and a seller. As a result, both you and a seller will be satisfied with the final terms of a home purchase agreement.

3. You can pay the lowest price for your dream home.

If you feel a seller’s initial asking price is too high, negotiating with this individual offers an excellent opportunity to get the best price for your ideal house. And if you open up negotiations with a seller, you could acquire a terrific house at a budget-friendly price.

Of course, it is crucial to consider the seller’s perspective during a homebuying negotiation. If you maintain constant communication with a seller, both you and this individual can work together to finalize a home purchase contract.

Negotiating with a home seller may be stressful, regardless of whether you are buying a house for the first time or have purchased residences in the past. Fortunately, if you hire a real estate agent, you can receive expert support as you negotiate a home purchase.

A real estate agent is happy to negotiate with a house seller on your behalf. He or she will keep you up to date throughout a home purchase negotiation. Best of all, a real estate agent will do everything possible to help you purchase your dream house at the lowest price.

For those who want to achieve the optimal results during the homebuying journey, it generally is a good idea to negotiate with a seller. If you are willing to negotiate with a seller, you could acquire your dream home faster than ever before.

Buying A Home With A Yard

One of the perks of moving out of an apartment into a home is having your very own outdoor space. Depending on how close to the city you live, you may not get much of a yard with your home. If you’re looking for that perfect outdoor space to dwell in, read on for some tips on buying a house with a yard. If you check the yard out, you could save yourself from facing problems further down the road. 

Are The Trees In Good Condition?

While mature trees in a yard are a sure fire way to have privacy and shade, the trees must be safe. You want any trees in your yard to be healthy. Otherwise, during a storm, you may have an issue with falling trees. If you have a lot of trees in your yard, it may be a good idea to hire an arborist who can tell you if the trees are safe. Tree removal can be costly, so you’ll need to plan for this expense if your yard has many trees.

How Safe The Outdoor Living Areas?

You should check out any outdoor living areas the yard has. If the home comes with a patio, or gazebo the soundness of the structures should be checked. Any cement should be free of cracks or crumble.

The Layout Of The Lot

There is more to a yard than the size of a property. You should keep in mind where the home is situated on the lot. Is the front yard more prominent than the backyard? Is the home on a slope? Is there a chance water will pool near the foundation of the house? All of these questions are important for the long-term health of the property. 

How Much Yard Are You Willing To Care For?

You need to know how large of a yard you’re actually willing to care for. For many buyers, a small yard is just enough. Other buyers aim to care for a large lawn the many flowerbeds. The larger the yard, the more possibilities you have. If you are willing to take the extra time and incur the additional expense that a large yard will cost, it could be a good feature to look for. Yard size may also narrow down your home search considerably. 

Buying a home with a yard can be a great decision, all you need is to understand your own preferences and ability to care for properties of different sizes.        

Should You Buy a House? Key Factors to Consider

Purchasing a home is a life-changing decision. As such, it is important to consider a variety of factors as you decide whether to pursue a residence, and these factors include:

1. Your Finances

Although you may want to buy a house as soon as possible, it is paramount to have your finances in order before you launch a home search. That way, you can avoid the risk of trying to spend beyond your means to purchase a residence.

Oftentimes, it helps to meet with banks and credit unions before you embark on a home search. These financial institutions can teach you about home financing and explain how mortgages work. Plus, they can help you get pre-approved for a mortgage so you can enter the housing market with a budget in hand.

2. Your Short- and Long-Term Goals

Consider your short- and long-term aspirations before you launch a home search – you will be happy you did. If you analyze your goals, you can see how buying a home helps or hinders your ability to accomplish these aspirations.

For example, if you want to work in a particular city, you may want to pursue homes in or near this city. This will eventually allow you to enjoy convenient access to a job in the city of your choice.

On the other hand, if you want to start a family soon, you may want to consider buying a house that offers immediate access to top schools and parks. You also may want to search for a home that offers a spacious backyard and other family-friendly amenities.

3. Your Family and Friends

If you want to reside close to family and friends, you can map out your house search accordingly. Houses are available in cities and towns nationwide. As a result, you should have no trouble finding a great residence near family and friends any time you decide to launch a home search.

For those who are ready to start a home search, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can quickly and effortlessly conduct an in-depth house search.

A real estate agent understands what it takes to search for houses in any city or town. First, he or she learns about a buyer’s expectations and establishes a personalized homebuying strategy. A real estate agent next helps a buyer search for houses in his or her preferred cities and towns. This housing market professional then sets up home showings and keeps a buyer up to date about open house events. And if a buyer wants to submit an offer to purchase a house, a real estate agent will help him or her do just that.

The homebuying journey sometimes is complicated, but people who consider the aforementioned factors may be better equipped than ever before to determine if now is a good time to purchase a house. And if an individual decides to launch a home search, he or she can work with a real estate agent to achieve the best-possible results.

Should You Submit Multiple Offers to Purchase at the Same Time?

If you find lots of great homes are available and cannot decide which residence to buy, there is no need to stress. Rather than submit multiple offers to purchase various houses, you should hone your home search. By doing so, you can discover the right residence, at the right price.

Now, let’s take a look at three tips to help you narrow your home search.

1. Define Your Dream Home

Think about the features you want in your dream home. Then, you can make a list of “must-have” home features and search for residences that offer these features.

Furthermore, consider where you want to reside. If you prefer big city living, for example, you may want to focus exclusively on city houses. On the other hand, if you want to reside in a small town, you can search for residences in myriad small towns.

2. Conduct a Preliminary Housing Market Review

Let’s face it – searching for a home can be overwhelming, regardless of whether you are a first-time or experienced homebuyer. But if you perform a preliminary housing market review, you can get a good idea about the volume and quality of available residences. Next, you can use this real estate market information to map out your homebuying journey.

Of course, it may be beneficial to attend open house events as well. These events enable you to get an up-close look at assorted residences. They also can help you understand the features you want in your dream house so you can further refine your home search.

3. Consult with a Real Estate Agent

When it comes to navigating the housing market, it helps to have a real estate expert at your side. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to help you acquire a superb residence at an affordable price.

A real estate agent understands what it takes to help you find a quality home that won’t force you to break your budget. First, he or she will learn about your homebuying goals and teach you about the real estate market. A real estate agent next will help you analyze the real estate market and explore a broad range of houses. And once you find a house you want to buy, a real estate agent will help you craft a competitive offer to purchase this residence.

Let’s not forget about the guidance a real estate agent provides throughout the homebuying journey, either. Purchasing a house is no small feat, and a real estate agent will take the guesswork out of the homebuying cycle. Best of all, a real estate agent can respond to your homebuying concerns and questions at any time.

If you want to discover a home that matches your expectations, it helps to plan ahead for the property buying journey. By taking advantage of the aforementioned tips, you can streamline your house search and find your ideal home faster than ever before.

How Many Open Houses Should You Attend?

Attending open houses is common for property buyers in cities and towns nationwide. However, there is no set number of open houses that a homebuyer will need to attend to discover his or her dream residence. In some instances, a buyer may find the ideal home after attending his or her first open house. Or, a buyer may attend dozens of open houses and fail to find a residence that matches his or her expectations.

As a homebuyer, it is important to do everything possible to make the most of an open house. Lucky for you, we’re here to help you get ready for an open house and ensure that you can maximize the value of this event.

Now, let’s take a look at three tips to help you get ready for an open house.

1. Create a List of Home Questions

You may have learned about a home from a listing. Yet a listing only offers a limited amount of information about a residence. And if you have additional questions about a residence, an open house provides you with a great opportunity to receive responses to your queries.

Craft a list of questions before you attend an open house – you’ll be glad you did. With this list in hand, you can ask questions about a home and gain the insights you need to help you decide whether a residence is right for you.

2. Perform Research

Try to collect as much information as you can about a home prior to an open house. That way, you can have a good idea about what to expect when you attend this event.

Also, you may want to put together a game plan before an open house. This plan allows you to prioritize different areas of a residence that you want to check out. Plus, it may help you conduct an in-depth review of a residence.

3. Consult with a Real Estate Agent

A real estate agent is happy to help you plan ahead for any open house. If you employ a real estate agent today, you can receive comprehensive assistance as you conduct your house search.

Typically, a real estate agent will keep you up to date about open house events in your preferred cities and towns. This housing market professional can attend an open house with you and offer immediate feedback as well. In addition, if you want to submit an offer to purchase a residence after an open house, a real estate agent can help you do just that.

Let’s not forget about the expert housing market insights that a real estate agent can provide, either. A real estate agent can offer insights into housing market patterns and trends. By doing so, a real estate agent can help you narrow your home search and ensure that you can find a great house at a budget-friendly price.

Ready to attend an open house? Use the aforementioned tips, and you can attend an open house and learn about all aspects of a residence.