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Buying a home with little money in savings

Buying a home with little money in savings

3 Tips That Can Help You Find a Dog-Friendly Home

Posted by on Jan 10, 2017 in Uncategorized | Comments Off on 3 Tips That Can Help You Find a Dog-Friendly Home

One of the most important things to keep in mind when looking for a home for sale is the suitability of the home for every member of your family, which can often include your pets. Listed below are three tips that can help you find a house that will be a good fit for you and any dogs that you may have. Consider Carpeted Floors While hardwood floors are among the most sought after home features by many people, you may want to consider going with carpeted floors instead if you have dogs. One of the biggest reasons for this is that dogs can very easily scratch of a hardwood floor whenever they are running across it due to their claws. In addition, having carpeted floors means that you will not have to deal with the very loud skittering and clicking noises that dogs can make when they run across hardwood floors, which is very beneficial if you want to be able to have a quiet space at home to relax or if you work from home. A nice added bonus is that carpeted floors will allow your dog to have a comfortable spot to sleep on throughout your home. Look for a Home With an Entryway Another great feature to consider when looking for a house that will be good for you and your dogs is an entryway. An entryway or mudroom is a great way to keep your dogs from spreading mud or dirt throughout your whole house when you bring them in from their walk, mostly because you can stop in the mudroom and wipe the dog down and remove any dirt and mud before they can access the rest of the house. This is especially useful when you consider that many entryways or mudrooms are designed to be quite easy to clean, so it is not a big deal if your dog shakes himself or herself off in those rooms. Try to Avoid Multilevel Homes Finally, one of the best things that you can do when you have a dog is to avoid a multilevel home. The primary reason for this is that dogs can be more than a little clumsy at times, so it is not uncommon for younger or active dogs to end up taking a tumble down the stairs when they are getting excited, which can lead to injuries on the part of your dog and expensive vet bills. In addition, avoiding a home that is more than one level is a great way to avoid any issues that your dog may have as he or she gets older because dogs often have difficulty navigating stairs in their golden years. Contact a real estate agent today and discuss what features you would like in a home that would be a good fit for you and your dog and any features the real estate agent may recommend that you...

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How To Keep Your Dream Of Leasing A Commercial Property From Becoming A Nightmare

Posted by on Dec 30, 2016 in Uncategorized | Comments Off on How To Keep Your Dream Of Leasing A Commercial Property From Becoming A Nightmare

Many people dream of being their own boss. Some business owners will start out in their homes and eventually move into larger commercial properties as their businesses grow. But leasing a commercial property can lead to a nightmare if you aren’t careful. If you are ready to move your home based business to a commercial property, here are a few important things to consider so your dream doesn’t turn into a nightmare.  Will you be responsible for capital expenditures?  It’s important to read the lease agreement very carefully, especially when it comes to items such as the costs of maintaining, repairing, and/or replacing things like the roofing, foundation, HVAC systems, plumbing, and other mechanical components of the property you are leasing. Be careful to not sign a lease agreement that shifts all of the responsibilities, especially financial, solely to you. If you find this in the lease agreement, you may need to negotiate. For example, perhaps you are willing to pay for maintenance and repairs but do not want to pay for replacements. The major thing to factor into the equation here is whether or not you can afford those costs, whether through your business or through your personal finances. Therefore, before you sign the lease, you’ll need to find out what those costs would be so you’ll have a better grasp of what you may face in the future.  Will you be required to sign a personal guarantee?  As a business owner, you know that the risks of remaining in business through the term of the lease are stacked against you, especially if your profits rely on the local economy and it’s not doing too well. For this reason and others, you may be asked to sign a personal guarantee at the time of your lease signing. This is a document that states that you will be personally required to pay the rent if your business is unable to pay, for whatever reason.  Fortunately, there is a little room for negotiating when it comes to signing a personal guarantee. Perhaps you can negotiate for a shorter term or a lower rent amount should the personal guarantee kick in. One thing you must do is to get what is called a pro forma copy of the lease. This is basically an informal copy of the lease. It should list everything that will be in the lease but in layman’s terms and in an easy-to-find layout, especially regarding personal guarantees and capital expenditures. For more information, go to...

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How To Help An Agent Sell Your Property

Posted by on Dec 14, 2016 in Uncategorized | Comments Off on How To Help An Agent Sell Your Property

If you are selling a property, don’t sit back and relax after signing a contract with a real estate agent. You also need to participate in the sales process if you want your property to sell fast. Here are four ways in which you can contribute: Be Flexible With Viewings When selling a property, you want as many people as possible to view it since you never know who will eventually buy it. Unfortunately, restrictive viewing hours may lock out some potential buyers. For example, if you only allow viewing during normal business hours, you will easily block those who must work during normal house and can only visit the house outside those hours. While it may be inconvenient to allow visits over the weekends or in the late evenings, you should try to accommodate those people as much as possible. Take Care of the Little Repairs Fixing up visible damage will go a long way toward convincing prospective buyers that you have looked after your property well. For example, a section of damaged fence may not look significant to you, but your buyers may see it as a sign of more serious damages. According to buyer mentality, a property with small, visible damage is likely hiding serious damages. Help Spread the Word There many ways in which you can help market the house. For example, you can share the listing on your social media pages. You can also ask your colleagues, friends, and family members to share it on their pages too.  Don’t restrict yourself to online accounts; even in the physical world, you should spread the word every chance you get. Parents meetings in school, after church activities, and even your workplace provide opportunities for spreading the word. There’s always a possibility that one of your work colleagues knows someone who wants to move to your city who may be interested in your home. Depersonalize the House Lastly, you need to depersonalize your house so that those who come to view it can picture themselves living in the house. This involves removing personal items from view. For example, you need to keep the pets and their paraphernalia out of view, remove your paintings and pictures from the walls, and hide the children’s toys. Hopefully, the measures above will help you to sell your house first. Of course, you should also listen to your real estate agent’s advice as well. They have many homes for sale and know what tips work best in your...

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Things To Discuss With Your Tenants When Selling Their Home

Posted by on Nov 29, 2016 in Uncategorized | Comments Off on Things To Discuss With Your Tenants When Selling Their Home

When you own an investment property occupied by tenants, you might eventually wish to sell the home. In some cases, the tenants will need to leave the property when you sell it; in other cases, you’ll find a buyer who will also use the property as an investment, which means that the tenants will stay. Regardless of the eventual outcome, you need to remember that selling the home should necessitate regular communication with the tenants. Here are some important things that you should discuss as the listing gets ready to hit the market. Importance Of Cleanliness You might not care how tidily the tenants live on a day-by-day basis, but you should take an active interest in this topic when you list the home for sale. You’ll eventually be dealing with open houses and visitations, and you can’t afford to have the residence look messy. This could discourage any interested buyers. Come up with a plan for cleaning the home. Perhaps you’ll hire a professional cleaning service to deep clean the house from top to bottom, for example. You must also get the residents to commit to keeping the house clean while it is on the market. Advance Notice Of Viewings You need to communicate how much notice you’ll give your tenants when an interested buyer wishes to schedule a viewing. When you’re selling a home that you currently live in, you might be able to accommodate people quickly — maybe even vacating the home with a few hours’ notice. It’s courteous, however, to make a pact with your tenants that you’ll give them a specific amount of notice. For example, you might settle on 24 hours or 48 hours. Make sure that your real estate agent knows this detail so that he or she can convey the message to the buying agent. Closing Date If it’s probable that the tenants will be moving out upon you selling the home, you need to come up with a closing date that will suit both parties. Given that a home can sell in a couple days or several months, this can be an uncertain time for the tenants, who won’t want to feel as though they’re being evicted upon the sale with little notice. A closing date two months after the sale is finalized, for example, will give the tenants an opportunity to find new accommodations, while you’ll have a chance to fix up any issues with the house for the new...

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3 Reasons Your Home Isn’t Selling And What You Can Do About It

Posted by on Oct 21, 2016 in Uncategorized | Comments Off on 3 Reasons Your Home Isn’t Selling And What You Can Do About It

If your home has been on the market for weeks or months without a single offer, you may be wondering what you’re doing wrong. While the home selling process can certainly be frustrating, there are a number of things you can avoid doing to ease your frustrations and increase the odds of your home selling. Below are three possible reasons your home may not be selling and what you can do to fix them. 1. Your Home Is Too Personal When putting your home on the market, it can be difficult to see what potential buyers do when taking the tour. Unfortunately, a home that is too personal—unusual paint colors, children’s art and decorations, etc.—can have a negative impact on the thoughts of potential buyers. So, what can you do to turn this around? Luckily, this is an easy fix which will require a bit of your time. First, it’s always best to stick with neutral tones—both in your paint and furniture—when getting your home ready for showings. This will allow potential buyers the chance to see the home for what it really is and imagine their own belongings and style incorporated into it. Second, it’s best to put away any macaroni art or construction paper decorations for safe keeping. While your children’s art is certainly adorable, it can distract buyers and not allow them to see themselves living in the home. Third, put into storage any unusual art or furniture pieces that you have lying around. You don’t need a statement piece when selling your home, so it’s best to put it away for safekeeping. 2. There Are Too Many Required Repairs Potential buyers understand that buying a home means paying for necessary repairs and remodels. If your home has too many required repairs, though, this can be a huge turn-off to buyers. So, instead of deducting the cost of necessary repairs from your home’s asking price, it’s better to do the repairs yourself and have that reflect in the listing price. For example, if the home you’re looking to sell needs a new boiler, it’s best to pay the $4,000 for it yourself than to give potential buyers a cut on the asking price. Money isn’t everything when it comes to buying a home. For many would-be homebuyers, the amount of required work is also something to be factored in. 3. Your Home is Priced Too High It can be difficult to put a price on a home that you love, but when looking to sell, it’s important to be objective and fair. While this may be the home that you bought with your husband, raised your family in, and experienced a number of life’s greatest moments in, potential buyers won’t be willing to pay for the sentimental value of your home. This means that it’s important to work with someone who can give your home an objective price, one which is based on the true monetary value of your home. This is where a realtor can be extremely helpful, as they likely have experience selling in your neighborhood, so they know how much similar homes have sold for in the past. To learn more about the real estate market in your area and how to put your best foot forward when selling, consult with a local...

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Choosing A Real Estate Agency: Why Your Interest In Certain Properties Should Not Be The Deciding Factor

Posted by on Oct 11, 2016 in Uncategorized | Comments Off on Choosing A Real Estate Agency: Why Your Interest In Certain Properties Should Not Be The Deciding Factor

With all of the real estate agencies out there, how do you choose the right one? If you are just buying a house, there are only a few factors that really affect who you choose as your real estate agency and who you work with as an agent. One of those factors should not be your interest in certain properties. Here are the reasons why and how to choose a real estate agency otherwise. All Real Estate Agencies Have Access to the Same Property Listings Regardless of who the house is listed with, all agencies and agents have access to the same house listings. That means that if you are interested in a house that is listed with Agency A, but you want to work with Agency Z, you can still view the house and purchase it through Agency Z. Agency Z gets a small percentage of the sale if and when your agent closes the deal with you. This is why you should not be daunted about your choice in real estate agencies and agents with regards to the properties you want most to see and/or buy. How Best to Choose an Agency/Agent Instead Instead, choose an agency and agent by the costs. Since most buyers and sellers would choose an agent/agency by price anyway, this is a sensible decision. Your closing fees, agent fees, listing fees and bargaining fees all vary among the agencies in your area. You can ask the agencies what they charge for each of these fee categories prior to hiring the agency and agent you most want to represent your interests in the home buying market. Usually, each of these fees is within a few hundred to a thousand of those charged by competing real estate agencies. You can also choose to hire an agency based on the awards, praise, and acclamation an agency has received. Many of these awards are given based on the agency’s customer service and excellence with regards to how it treats both sellers and buyers. You may find that the agents in these agencies are more accommodating with showing houses in off-hours and are willing to be flexible in your search for a new home. Finally, personalities and personality types are often the reason that people choose the real estate agents they do. You will have an easier time of finding a house when you find the agent agreeable and...

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Why The U.S. Is An Attractive Market For Commercial Real Estate Investors

Posted by on Sep 26, 2016 in Uncategorized | Comments Off on Why The U.S. Is An Attractive Market For Commercial Real Estate Investors

If you are looking for commercial real estate investors, one area you should search is among foreign real estate investors. International investment is becoming more attractive because governments around the world, including in the U.S., have eased restrictions both on inbound and outbound investments. There are many other reasons why you should look abroad for investors. By knowing specifically why the United States is an attractive market, it will be easier to promote U.S. commercial real estate properties. It Is Less Expensive To Invest In The United States The Foreign Investment in Real Properties Act 1980 was created originally to impose large taxes on foreigners who invested in commercial real estate. However, the JOBS Act went a long way toward eliminating the burden that was imposed on foreign investors. The percentage of publicly traded stock that a foreign investor can own before he or she is forced to pay a higher tax has been effectively doubled. Canada, China, and Australia Are The Top Investors Chinese investors are one of the largest players in the domestic commercial real estate market. However, the appetite for commercial real estate in the U.S. is not limited to Chinese investors. In fact, the number one foreign source of investors in commercial real estate are Canadian investors. Australia is also a major source of foreign investors. Many Foreign Investors Lack Other Options One of the most common reasons for foreign investment into the U.S. market is that there is a lack of commercial investment options for investors in their own countries. Also, there are relaxed restrictions on outbound investments in the United States. The U.S. is seen by foreign investors as a secure and stable place for investment. A Better Monetary Policy The United States has low interest rates. This has made it possible for lower finance costs and lower yields in the bond market in comparison. Europe Is A Major Competitor With The United States Europe is becoming a more competitive investment option as well because the Eurozone has stabilized. However, Europe’s greater competitiveness has not lead to a decrease in the number of foreign investors investing in U.S. real estate. The U.S. population growth is also leading to increased opportunities for investment as infrastructure is upgraded and as more properties are constructed to cater to a growing consumer base. By clarifying the benefits of investing in U.S. commercial real estate when marketing investment products to foreign consumers, you will be able to better attract...

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Two Tips To Help You Choose The Right House

Posted by on Sep 19, 2016 in Uncategorized | Comments Off on Two Tips To Help You Choose The Right House

If you’re in the market for a new home, you have quite a few decisions to make.  You need to determine where the house should be located, along with making sure that it has all of the features that make you feel comfortable while relaxing in your abode.  Although you may be mainly focused on the price, there are a number of other things that you should look for.  Use this information to learn two tips that can help tailor your decision when you’re buying a house. Location Is Everything The first thing you want to do is make sure that the house you’re looking at is in the right location.  This is about much more than the school district, since you’re making a large purchase that should be especially meaningful. For example, you may be moving into a small town that has the quaint feel that you’ve been wanting.  However, the city plans may include building a stadium within the next few years.  This will change the landscape of the community and definitely must be factored in when making your decision. That’s why it’s so important to be smart about your move.  Take the time to pay a visit to the local Department of Urban Planning so you can peruse the city plans for the next few years.  Carefully factor whether or not the plans that are listed fit with the vision that you have for your family’s life before you make the purchase. External Factors Are Important When you’re choosing your next house, it’s vital that you factor in external matters.  You need to determine whether or not you have the time to maintain the upkeep of the area that surrounds your house.  If you don’t, you have some decisions to make. Condominium communities typically have a homeowner’s association that will make sure the grounds are always cared for.  If you’re a busy professional, this can be best for you.  Also, think about whether or not you need personal parking.  If the neighborhood that you’re moving into doesn’t have private parking, or if there isn’t a garage attached to your house, you may want to look elsewhere.  Selecting the right house doesn’t have to be difficult if you know what to do.  Understanding your lifestyle and knowing what you need are the keys to making sure that you end up with a beautiful home that you enjoy coming home to each...

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The Basement’s Role In Selling Your Home

Posted by on Aug 25, 2016 in Uncategorized | Comments Off on The Basement’s Role In Selling Your Home

For all the year’s that you have had your home, you may have planned to finish your basement. Alas, you never got past the wishing stage. Now that you are planning to sell your home, you have to face the fact that your basement is still a little sad looking. Before you put the house on the market, you should consider making over the basement. The Housing Market When it comes to this issue, experts frequently disagree on whether the basement helps sell the home. The answer is that it depends partly on your particular housing market. The extra living space that a finished basement offers can be a big inducement for potential buyers, especially in areas where the hunt for extra square footage is most important. Before you begin your remodeling project, consult with a local realtor for advice on this issue. They will know if the basement investment is worth the potential sales return. Cost Effectiveness Finishing your basement is a less expensive option than new construction or buying a larger home. In fact, finishing the basement should cost somewhere between $40 and $75 per square foot. Your other choices will cost $150 – $200 a square foot. As a result, you can pass these savings on to buyers. Your sale price will not have to rise that much to recoup your investment, and the additional space should make your home a more attractive entry in certain markets. Quality The quality of the work needs to match that of the rest of your house, but you do not want to spend too much money. Most people are not interested in a luxury basement, and you will be unlikely to recoup your money if you overdo it.  Also, do-it-yourself efforts will not be attractive to buyers unless you are a skilled craftsperson. The project needs to be done professionally, or it shouldn’t be done at all. An inferior job will cost you time and bring you no return. In fact, a poorly finished basement may cause buyers to pass on your home. A finished basement can be a help in selling your home, but you need to be careful about your investment. Consult with experts before you commit to the project. You certainly do not want to waste time and money on a project that won’t help you. If you do proceed, remake the basement professionally and on a...

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In The Market To Buy Your First Home? 4 Scenarios That Could Make It Difficult To Find A Lender

Posted by on Aug 2, 2016 in Uncategorized | Comments Off on In The Market To Buy Your First Home? 4 Scenarios That Could Make It Difficult To Find A Lender

If you’re in the market for your first home, you need to make sure you know where you stand financially. When it comes to purchasing a home, your income is only a small piece of the puzzle that lenders will put together to determine your eligibility. If you don’t know how you stack up financially, you might be a financial risk and not even know it. Here are four scenarios that could make you a financial risk when it comes to finding a lender. Your Credit Score Is Too Low Before you start shopping for a new home, you need to know what your credit score is. That’s the number that lenders will look at when determining your credit worthiness. In most cases, if your score is lower than 620, most lenders won’t approve you for a home loan. Take the time to look at your credit report to determine what your overall score is. If it’s too low, you might want to work on your score before you apply for a loan. Your Employment History is Questionable Your employment history can get you into trouble, especially if it’s not your typical history. Periods of unemployment or self-employment can create gaps in your employment history. Those gaps will need to be overcome before most lenders will take you out of the high-risk category. One way to overcome gaps is to provide proof of self-employment. You can document periods of self-employment by providing tax returns for those years. Your tax returns will provide an income paper trail that lenders will be able to follow. That paper trail can help elevate you out of the danger zone. You’re Behind on Payments Before lenders will approve your home loan, they need to know that you’re going to pay your mortgage on time. That can be difficult to determine if you’re behind on payments when you apply for your loan. If you know that you’re behind on payments, take the time to get caught up on your payments before you apply for your loan. You Haven’t Saved for a Down Payment Lenders like to know that you’re going to be adequately invested in the home you’re going to purchase. One way they determine your level of investment is through your down payment. If you don’t have an adequate down payment, you should talk to your realtor about down-payment assistance programs that might be available to you. Now that it’s time to buy your first home, make sure you understand your own financial status. The information provided here will help you determine if your current situation puts you in danger of being considered a financial risk. Be sure to speak to your real estate agent about ways to overcome problems in your credit status.   For a real estate agent, contact a company such as RE/MAX EXECUTIVES...

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