buy your first home: Multi-Unit Residences
- 04/09/16 01:39 PM
A duplex is a 2-family home located on a single lot (parcel) and owned by one owner. Each residence has its own separate entrance. On the West Coast, a duplex is usually 2 houses side-by-side which are attached with a common wall. But in the Midwest, a duplex refers to a house with a residence on the main floor and a separate residence upstairs. A "duplexes" is also known as a “two-family house”. And a "flat" can refer to a residence within a multi-unit house.
A triplex has the same characteristics as a duplex, except that it consists of 3 units. It … (2 comments)
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buy your first home: If a house meets 85% of your criteria, then put it on the list
- 04/08/16 02:16 PM
If it is in good condition, and fits your price range, then it is a winner. The bottom line is, regardless of what price range you are shopping in, you will not find a home that meets 100% of your wants. Prioritize your needs and wants. That is why you are taking notes, to help you select the BEST choice.
My rule of thumb is if you find a house that meets 85% of your wish list, it is a serious contender. Make an offer to purchase it. Do not let this opportunity pass by you.
Remember you are going to customize your … (7 comments)
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buy your first home: To Be a Home Owner, You Must Take Action
- 03/04/16 01:23 PM
Education and knowledge are great, but they are worthless if you do not take action. I have seen some prospective homebuyers who were afraid to take that next step to home ownership. Maybe they were scared to step out of their comfort zone, or maybe they did not think they would qualify. We are going to equip you with the tools and resources you need to succeed, and there is no excuse NOT to follow your dream of homeownership. Then make an action list for you and your family to move on to the next step.
The most important thing is to … (4 comments)
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buy your first home: Family Stability
- 02/20/16 02:05 PM
One of the importance of home ownership is family stability. You know you and your family will be living in one place for a long time. If you have children in school, you know they are not going to have to change schools just because your landlord gave you a notice to move. Children thrive when they know they have a stable home to come back to every day.
Once you get to know your neighbors, you and your family will feel safe in the community. In a great community, kids play together and neighbors look out for each other. A good neighborhood … (7 comments)
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buy your first home: How to Select a Real Estate Agent to Work for You
- 01/19/16 10:38 PM
You have your choice of top real estate agents. There are so many real estate agents! So how do you choose the best one for you? Remember our formula: Research 5, interview 3, and select 1.
Find out about the business professional with which you will be working closely. Is this a person you want representing you? Do you trust him or her to negotiate on your behalf? Find out his or her communication and working style. If you are tech savvy, you will be best suited by selecting an agent who also is tech savvy.
Find out each agent’s reputation in the … (7 comments)
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buy your first home: Home viewing: Write down defects
- 12/17/15 10:25 PM
When you're viewing homes for purchase, write down obvious defects with the property and any questions. If you see problems or defects, point these items out to your REALTOR®. If you have any questions, ask your agent. Keep in mind that she may not have the answers and she may have to ask the listing agent. So be sure to write down your questions or issues so they can be addressed later on.
Remember you will have the opportunity to request that the seller repair things at their expense. That’s another reason to write down any possible defects with the property.
Read more … (1 comments)
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buy your first home: Narrow to One House
- 12/05/15 01:49 AM
Wow, that is hard! You saw so many homes you loved, how do you narrow down your list to your #1 top choice? Here are a few tips:
Review your notes Compare the features of each house Consider the style and design you like best Talk with each other and your Realtor® Figure out how much fix-up work or re-decorating you will need to do Calculate the value you get for the size Think about how your family will use the floor plan Narrow it down to just 1 house, but keep 2 homes on your list as back-ups
As you have … (3 comments)
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buy your first home: Number Your Favorites
- 12/02/15 12:02 PM
Your “winners” list will include houses that are in good condition, fit your price range, and meet 85% of your “wish list” criteria:
Number the houses (1, 2, 3, etc.) according to which ones you like the most.
Now that you’ve spent an entire day house hunting, or maybe even a couple of weekends, it’s time for you and your wife or husband to discuss which house you’re going to write an offer on. What are the pros and cons about each house? Which do you like better than the others? If you cannot agree on your top choices, can you agree on … (0 comments)
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buy your first home: Home Buying Tips: Keep a Backup Plan
- 11/25/15 11:11 AM
What are the reasons NOT to get your hopes up too high in the beginning of the escrow?
Many transactions “fall out” of escrow and you may be disappointed So you can make a good business decision to cancel your contract if needed Keep a backup plan for the other houses you liked Many transactions “fall out” of escrow.
Okay, we are now in escrow. We hope to be closing on our new house in about 2 weeks so we are packing and preparing, and we are starting to get excited. However, we do not want to get our hopes up too … (4 comments)
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buy your first home: Vacant Homes vs. Occupied Homes
- 11/21/15 04:26 PM
Vacant homes can be shown at any time during daylight hours, as long as the listing agent has put an accessible lockbox on the house. Homes that are currently occupied by the sellers will need some advance notice so they can leave the house and you can view it privately. Houses that are occupied by tenants need at least 24 hours’ notice, and sometimes more. You and your REALTOR® must always be respectful of the residents who live in a house, and must comply with the laws, too.
Remember, houses that are occupied may not have a lockbox, which means that your … (0 comments)
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buy your first home: Put on Your Homeowner Hat
- 11/04/15 11:00 AM
Homeownership is a different mentality from renting. We are going to switch our mentality from being a renter to being a homeowner. A renter relies on the landlord to pay all the bills on the property and to maintain the exterior and the structural aspects of the home.
When you are a renter, you expect others to take care of things for you. You simply have to pay your rent and the landlord pays the mortgage, the taxes, and the insurance. If anything breaks, your landlord has to fix it. The renter is passive and does not have to take much responsibility.
However, … (4 comments)
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buy your first home: Select Homes You Really Want to See
- 10/30/15 01:16 PM
Avoid wasted time by selecting only the homes you really want to see with your REALTOR®.
The challenge is NOT to waste your time viewing the inside of homes that you do not like from the outside. Your time is limited, and your time with your REALTOR® is even more limited.
Remember, your real estate agent has many clients to service and it takes a lot of time to show you houses. You want to use your time with your REALTOR® wisely. That is why you drive by first. The point of driving by the outside is to determine if you like the … (7 comments)
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buy your first home: Home Maintenance and Repairs
- 09/18/15 01:09 PM
Home ownership may mean learning how to do repairs yourself. It may mean finding reliable contractors. It may mean calling your brother-in-law, the handyman, to come help you in exchange for a barbecue dinner. Buildings and yards require maintenance, so you are going to have a little bit different attitude. When something needs to be repaired, you cannot just call your landlord any more.
Maintenance should be done on a regular basis. Things that need to be replaced should be put into your schedule: such as, clean the rain gutters; replace leaky water faucets and toilets; check, repair, and replace the roof; … (1 comments)
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buy your first home: Steps on Finding a House
- 08/27/15 11:29 AM
First, we are going to drive by our favorite houses and narrow down our list. Then, we will select which houses we want to view with our REALTOR®.
Next, we will meet with our REALTOR® and bring our checkbook along, ready to make an offer. Our REALTOR® will show us the inside of the houses we already drove by and marked as our favorites.
We are going to take notes about the size of the house, the features, and write down any questions. We will snap a few photos, if allowed by the seller.
Then we will all huddle together and … (3 comments)
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buy your first home: Tips on Home Shopping: Keep an Open Mind
- 07/03/15 12:09 PM
Remember, there are things about the home you can easily change, and other things that are difficult to change, or cannot be changed at all. Try to overlook cosmetic things such as paint color, wallpaper, and carpeting. Most homeowners will want to add their own touch by redecorating anyway. Light fixtures, faucets, sinks, and counters can easily be changed. Even the “popcorn” ceiling can be removed.
Instead, focus on the structure, the design, and the layout of the house. These are things that cannot be changed easily.
Another example is a family with babies or toddlers. They usually want to have the … (3 comments)
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buy your first home: The "Hidden" Money Drains
- 06/28/15 10:42 PM
If you're planning to save money for your home purchase, watch out for the hidden money drains. A huge drain on the budget is that “little” coffee habit. If you spend $5 per day at Starbucks, did you know that is $1,825 per year? Over 10 years, that adds up to $18,250. Over the life of your 40 working years, spending merely $5 per day adds up to $73,000. So look at what you are spending on coffee, snacks, alcohol, and fast food. It can add up to a staggering amount of money, which should be going back into your household … (8 comments)
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buy your first home: Give Thanks
- 06/23/15 08:15 PM
Make it a habit to cultivate an attitude of thankfulness. You cannot always change your situation, but you CAN change the way you view it. If you take time to appreciate what you do have — your family, your friends and your opportunities — you’ll have a richer, more satisfying life.
An attitude of gratitude goes a long way
You enjoy life more when you appreciate what you have. When you have gratitude, you are more likely to take care of the things with which you have been entrusted and you can encourage others with your positive attitude. You’ll be happier, your family … (12 comments)
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buy your first home: Learn the Lingo of Walls
- 06/09/15 12:35 PM
By Regina P. Brown
What’s the first thing a buyer sees when they drive up to view a home? The exterior walls! A home’s walls define the character of the home, and can lend to the curb appeal that adds value to a home. Today’s topic is all about walls: exterior, interior, and all sorts of others.
A wall is a flat, vertical structural component that is part of the building. Walls have 3 components: structure (the framework), finish surface, and insulation (between the structure and finish). Plumbing pipes and electrical wires are often inside the walls. Both exterior and interior.
1. Exterior Walls
Exterior … (30 comments)
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buy your first home: Enroll in Home Buying Course
- 05/29/15 03:45 PM
The most important thing you will learn is that home buying is a PROCESS. You’ll become familiar with the steps, the terms, the forms. The more courses you participate in, the more confidence you will gain to take action.
Learn about home ownership and the process of buying a house
Take an educational course to learn about how to buy a home, and what it takes to own a home. It is quite a process and when you own a home, you will have different responsibilities than when you were a renter. There are steps to follow and it is not instant.
Take a … (7 comments)
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buy your first home: Select Houses to View
- 05/27/15 12:55 PM
If you have 30 houses on your list, you should narrow it down to a handful that you really like. Then you can easily make a decision to purchase one of your favorite “finalists”.
Did you know that a “green” home may cut your utility bill in half? When you think about the cost of water, electric, and fuel each month, all year long… you understand why it’s important to search for homes with green or energy efficient features. Ask the seller for a BPI report or a HERS rating to verify your monthly energy cost, and to determine if rebates or … (5 comments)
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A duplex is a 2-family home located on a single lot (parcel) and owned by one owner. Each residence has its own separate entrance. On the West Coast, a duplex is usually 2 houses side-by-side which are attached with a common wall. But in the Midwest, a duplex refers to a house with a residence on the main floor and a separate residence upstairs. A "duplexes" is also known as a “two-family house”. And a "flat" can refer to a residence within a multi-unit house.
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