Posted by Mary-Lou McDonough on 12/11/2017

You've found your dream home at least, you initially thought you discovered your ideal house. But following the home inspection, you're starting to have second thoughts about whether you want to purchase a particular residence.

A home inspection is a valuable opportunity for a homebuyer. It enables a buyer to receive expert insights from a property inspector about a house's age and condition. Thus, if a home inspection reveals myriad problems with a residence, a homebuyer still has an opportunity to walk away from a home sale.

Ultimately, there are many factors for a homebuyer to evaluate after a home inspection, including:

1. The Home's Condition

When it comes to evaluating a home's condition, there may be more than meets the eye. Fortunately, a home inspection enables a property inspector to take a deep look at a house's interior and exterior and provide detailed findings.

If a home's condition fails to match your expectations, don't hesitate to walk away from a home sale. By doing so, you can reenter the housing market and begin your search for the perfect residence once again.

On the other hand, if a home's condition is not a deal-breaker, feel free to move forward with a home sale. And in a short period of time, you'll likely soon be the owner of a great house.

2. The Home's Age

A home's age may dictate whether substantial home repairs or improvements may be needed down the line.

For example, a home's furnace usually needs to be replaced every 10 to 15 years. If a 30-year-old residence still has its original furnace in place, this device may need to be replaced sooner rather than later.

A home inspection should provide clear-cut insights into potential home improvements that you may need to perform in the near future. Use these insights to your advantage, as they may help you if you try to renegotiate the price of a house.

3. Long-Term Home Improvements

Spend plenty of time with a home inspector and don't hesitate to ask this professional plenty of questions. Remember, he or she is available to help you make an informed homebuying decision. And if you learn about potential long-term home improvements now, you may be able to avoid severe home problems down the line.

If a home inspector discovers roof problems or other substantial house issues, take his or her recommendations seriously. That way, you can avoid the danger of buying a "money pit," i.e. a house that may prove to be more trouble than it's worth.

Lastly, if you need help at any point during the homebuying journey, reach out to a real estate agent. This housing market professional can put you in touch with the best home inspectors in your area and allow you to minimize stress throughout the homebuying cycle.

Ready to make your homeownership dreams come true? Consider the aforementioned factors after a home inspection, and you can move one step closer to purchasing a terrific house at a budget-friendly price.




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Posted by Mary-Lou McDonough on 11/20/2017

If you plan to buy a home in the upcoming days, weeks or months, it often pays to learn about the real estate market. By doing so, you can understand various best practices for purchasing a house and streamline the homebuying process.

Ultimately, there are several best practices for buying a house, and these include:

1. Become a Homebuying Expert

What differentiates a buyer's market from a seller's market? How do you submit an offer on a house? And what should you expect during a home inspection? These are just some of the questions that you'll need to consider to become a homebuying expert.

As a homebuying expert, you'll be better equipped than others to plan a successful homebuying journey.

Typically, a homebuying expert asks lots of questions and devotes the necessary time and resources to learn about the housing market. This individual also is open to expert homebuying advice and recommendations and will do whatever it takes to discover the right house, at the right price, regardless of the real estate market's conditions.

2. Get a Home Loan

For those who plan to buy a house, it helps to save money in advance. That way, you can shop for a house and have sufficient funds available for a sizable down payment.

Furthermore, you should start searching for a home loan as soon as possible. Because the sooner that you secure a home loan, the sooner that you can kick off a home search with a budget in hand.

To obtain a home loan, you should meet with several banks and credit unions. These lenders will evaluate your credit history, income and other financial factors and make a home loan offer.

After you accept a home loan offer, you can officially start your home search. And if you find a home that you'd like to buy, you can submit an offer without having to scramble to get a home loan at the last possible moment.

3. Collaborate with a Real Estate Agent

When it comes to buying a home, hiring a real estate agent is essential. In fact, a real estate agent will provide plenty of support throughout the homebuying journey, ensuring that you can discover your dream house without delay.

A real estate agent first will learn about your homebuying goals. Then, this housing market professional can help you narrow your home search.

In addition, a real estate agent will set up home showings, submit home offers on your behalf and keep you up to date on homebuying negotiations. Perhaps best of all, if you ever have homebuying concerns or questions, a real estate agent is happy to respond to them at any time.

Buying a home can be a quick, seamless process, particularly for those who work with a real estate agent. Reach out to a local real estate agent today, and you can move one step closer to making your homeownership dreams come true.




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Posted by Mary-Lou McDonough on 10/2/2017

Finding a mortgage lender should be easy, particularly for homebuyers who want to purchase a high-quality residence without having to worry about spending too much. However, many mortgage lenders are available nationwide, and the sheer volume of lenders can make it difficult to choose the right one.

Lucky for you, we're here to help you streamline the process of selecting the ideal lender.

Now, let's take a look at three tips that homebuyers can use to accelerate the process of choosing the perfect lender.

1. Know Your Credit Score

Your mortgage interest rate may vary based on your credit score. As such, you should learn your credit score before you begin your search for the right lender. This will enable you to boost your credit score if necessary something that may help you get a preferred mortgage interest rate.

You are eligible for one free copy of your credit report annually from each of the three major credit reporting agencies (Equifax, Experian and TransUnion). Request a copy of your credit report, and you can find out your credit score and map out your search for the ideal mortgage lender accordingly.

2. Meet with Several Mortgage Lenders

There is no shortage of mortgage lenders in cities and towns around the country. Therefore, you should allocate the necessary time and resources to meet with several credit unions and banks to explore all of your mortgage options.

Each lender can provide details about fixed- and adjustable-rate mortgages, how these mortgages work and other pertinent mortgage information. This information can help you make an informed decision about a mortgage.

In addition, don't hesitate to ask questions when you meet with a mortgage lender. If you obtain plenty of information from a mortgage lender, you'll be able to understand the pros and cons of various mortgage options and make the best choice possible.

3. Review a Mortgage Closely

A mortgage may enable you to secure your dream residence, but it is important to understand all of the terms and conditions associated with a mortgage before you select a lender.

For example, if you decide to purchase a condo, your mortgage might only cover the costs of your property. Meanwhile, you still may be responsible for condo homeowners' association fees that total hundreds of dollars each month, so you'll need to budget properly.

Of course, you should feel comfortable working with a mortgage lender as well. The ideal mortgage lender should be available to answer your concerns and questions at any time and help you stay on track with your monthly mortgage payments.

If you need extra assistance as you consider the mortgage lenders in your area, you can reach out to a real estate agent for additional support. This housing market professional can provide insights into mortgage interest rates and may even be able to connect you with the top local lenders.

Take the guesswork out of finding the right mortgage lender use these tips, and you can move one step closer to getting the financing you need to buy your dream residence.




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Posted by Mary-Lou McDonough on 6/19/2017

Move to anew house and you could step into job security. Relocating when the division you work with moves to a new city or state can signal to your employer that you're dedicated, loyal and steadfast. But, buying a new house solely because your employer is relocating comes with risks. These three points can help to reduce risks associated with buying a new house that's directly linked to a job move.

Job move could lead to a new house

Employment contract - Many jobs are at will, meaning that you can leave the job at anytime. With an at-will job, an employer can also bring your job to an end for any reason, as long as the reason does not violate employment laws. Before you move and buy a new house to follow an employer to another town, check your employment contract. See if your employer will offer you a written, guaranteed bonus if you move. If the bonus covers three months or more of your annual salary, it could give you time to find new employment should you get laid off after you relocate.

Housing assistance - Check with your human resources representative to see if you'll receive housing assistance if you relocate. Generally, the employer must ask you to relocate to get housing assistance. You also may have to move 50 or more miles one way to receive housing assistance. Housing assistance can cover closing costs, transporting your household goods to your new home, temporary housing costs and fees associated with selling your current home. The amount of housing assistance that an employer offers varies. Get a good housing assistance package with your relocation and you could significantly trim the amount of money you spend out-of-pocket on your move. Get all housing assistance agreements in writing.

Buying a new house due to a job move requires honesty

Ripple effects of moving to a new house - Move to a new house and you're children could be forced to go to a new school, you could put hundreds of miles between your family and you could have to learn a new culture. You could also have to get accustomed to a new climate. Reduce the risks of moving to a new house during a job relocation by talking openly with your family, including your young children, about the move. Get everyone in your family's buy-in. Also, ask your employer and human resources representative how your role will change after you relocate. If possible, negotiate a move when interest rates are low and the costs of houses in the area you're moving to are low to competitive.

Pack and move when your employer ask you to work in a division that's moving to a different region of the country and you could forego a layoff. The fact that your employer ask you to move is a sign that your employer values your talent.Another way that your employer values your talent is to offer you relocation assistance. Accept this assistance before you agree to move. It could save you closing costs, equity and help with your down payment.




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Posted by Mary-Lou McDonough on 2/27/2017

Let's face it buying a home is rarely simple. As such, you may need extra help along the way to ensure you understand the ins and outs of purchasing a house. So what does it take to become an expert homebuyer? Here are three homebuyer education options that are available to homebuyers nationwide: 1. Family Members and Friends Did a family member or friend recently purchase a house? If so, you may be able to lean on this individual for support as you explore the real estate market for the perfect home. Typically, a family member or friend can serve as a reliable source who can share his or her past homebuying experiences. This individual also might be able to recommend a real estate agent who provided outstanding support to him or her in the past or suggest areas where you may be able to find a home that fits your budget. Family members and friends, of course, can help you minimize stress throughout your search for the right home, too. Thus, you should be able to rely on them for a helping hand as you explore the housing market. 2. Networking Groups and Workshops Did you know that networking groups and workshops may be available that can empower you with insights you need to find the right home immediately? That's right, and in many cases, there are no costs to participate in these groups and workshops as well. Usually, a networking group serves as a collection of homebuyers with a common mission to discover a great house at an affordable price. It is important to note that networking groups are scattered across the country. And in order to find the right networking group, you may want to search websites like Meetup and Facebook. Homebuyer workshops occasionally are held at various locations nationwide by homebuying experts who are happy to share their knowledge. In many cases, cities and towns also will host free homebuyer workshops, enabling you to learn what it takes to purchase a house quickly and effortlessly. 3. Real Estate Agents When it comes to becoming an expert homebuyer, there may be no better resource at your disposal than an experienced real estate agent. Because with the right real estate agent at your side, you'll be able to explore a broad assortment of high-quality houses any time you choose. To hire the right real estate agent, you should be prepared to meet with several real estate professionals and discuss your homebuying needs with them. By doing so, you'll be able to find a real estate agent who you are comfortable working with and possesses the skills and expertise needed to ensure you can find your dream home without delay. Purchasing a house can be a stressful, time-consuming process, but receiving homebuyer education from multiple expert sources ensures you are better equipped to buy a house that fulfills your needs. Utilize the massive collection of homebuyer educational resources that are available, and ultimately, you can improve your chances of purchasing a home that you can enjoy for years to come.