Judy Korzenowski's Blog
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.
A successful home search enables you to discover your dream residence at a budget-friendly price. However, conducting a successful house search may be difficult, particularly for individuals who fail to prepare for the homebuying journey. Lucky for you, there are many things you can do to prevent problems as you search for your ideal home.
Now, let's take a look at three tips to help you complete a successful home search.
1. Refine Your Homebuying Criteria
Think about where you want to reside. That way, you can focus on available houses in your preferred cities and towns – something that will allow you to speed up your quest to find your dream home.
Also, consider your homebuying must-haves. If you have always wanted to own a house with a spacious backyard, for instance, you can hone your home search accordingly. On the other hand, if you require a home that features multiple bedrooms, you can search for a residence that matches your expectations.
2. Establish a Homebuying Budget
A homebuying budget is crucial because it helps you understand exactly how much you can spend on a house. If you get pre-approved for a mortgage, you can start your house search with a budget in hand.
Meet with a variety of banks and credit unions. Then, you can find out how different types of mortgages work and select a mortgage that complements your finances.
In addition, ask questions about home financing. Banks and credit unions are happy to help you make an informed mortgage selection. If you analyze your home financing options closely, you can choose a mortgage that will serve you well both now and in the future.
3. Collaborate with a Real Estate Agent
A real estate agent takes the guesswork out of a home search. In fact, he or she will go above and beyond the call of duty to ensure you can discover your ideal residence without delay.
Oftentimes, a real estate agent makes it easy for a homebuyer to find a terrific house at an affordable price. This housing market professional simplifies a home search and will keep you up to date about residences that match your property buying criteria. Plus, if you want to buy a home, a real estate agent will help you submit a competitive offer to purchase your ideal house any time you choose.
With a real estate agent at your side, you can streamline the home closing process as well. A real estate agent will help you finalize a house purchase and ensure you can move into your dream residence as soon as possible. Best of all, if you have any concerns leading up to a home closing, a real estate agent can respond to them right away.
As you get set to search for your dream home, you may want to start planning for the homebuying journey. Thanks to the aforementioned tips, you can prepare for the homebuying journey and boost the likelihood of quickly finding and acquiring your dream house.
Purchasing a second home should be a fun, exciting experience. Yet homebuyers who fail to consider where they want to pursue a second residence may struggle to achieve their desired results.
If you know you want to buy a second home, it often helps to narrow your house search to residences in a select group of cities and towns. Then, you can evaluate available residences in your preferred cities and towns and boost the likelihood of finding a house that you can enjoy for years to come.
Of course, determining which cities and towns where you want to pursue a second house can be difficult. Yet there are lots of things you can do to hone your house search, including:
1. Evaluate Your Homebuying Budget
Your finances likely will play a major role in your ability to pursue and acquire a second residence. As such, you should examine your finances closely so you can establish a homebuying budget.
If you have paid the mortgage on your current house, focus on the mortgage costs associated with a second home. For example, if you want to find out how much you can afford to pay for a second home, you can meet with bank and credit union mortgage specialists. This will allow you to get pre-approved for a mortgage so you can enter the real estate market with a budget in hand.
Comparatively, if you still have a mortgage on your present house, you should consult with your lender. This will allow you to determine if you qualify for a second mortgage. Also, you can get financial guidance so you can figure out where to search for a second house that falls in line with your finances.
2. Establish a Homebuying Timeline
Think about when you want to acquire a second residence. Next, you can create a homebuying timeline to help you achieve your desired homebuying goal.
A homebuying timeline should remain flexible. If you want to purchase a second home in the mountains, for example, you should account for the time it may take to transport various personal belongings to this residence. And if problems arise that delay your efforts to acquire a second home, you should be ready to adjust your homebuying timeline as needed.
3. Hire a Real Estate Agent
Let's face it – buying a second home is rarely simple, regardless of your property buying expertise. But if you hire a real estate agent, you can receive extensive assistance as you search for a second residence.
A real estate agent understands the ins and outs of the housing market. He or she will share real estate market insights with you, along with providing tips and recommendations. As a result, a real estate agent will help you find a second home in your preferred city or town as quickly as possible.
Take the guesswork out of finding and buying a second home in the city or town of your choice – use the aforementioned tips, and you could streamline your quest to acquire a second residence that matches your expectations.
Unmarried couples often find themselves surprised at the additional steps it takes to buy a home compared to their wedded friends.
This guide will help you prepare for buying a home together as an unmarried couple:
Banks will assess you differently than they would a married couple.
Whereas they look at a married couple as a single financial unit, you and your partner will be assessed individually. This certainly has its pro’s and con’s. Know that if one partner has a significantly lower credit score it can affect your eligibility for a loan as a couple.
Legal ownership of the title will be different.
Unmarried couples have three options when it comes to title ownership: sole ownership, joint tenants and tenants in common.
Tenants in common is the most popular. The difference between tenants in common and joint tenants is this:
In a joint tenancy ownership is 50/50. If one partner were to become deceased, ownership of their half of the property would carry over to the other partner.
Tenants in common ownership can be disproportionate to reflect each partners level of investment. If one partner were to become deceased, their living trust would inherit ownership of their portion of the property if another option is not otherwise specified in their will.
Sole ownership is just that. One partner owns full legal ownership of the property. This option can have tax benefits and increase your financing eligibility if one partner has a higher income or better credit score than the other.
It’s highly recommended for unmarried couples to sign a property, partnership or cohabitation agreement when buying a home together. This is a legal precaution to safeguard both partners in the future should anything happen.
If your finances are separate it is ideal to at the very least create a joint checking account from which to draw the down payment and mortgage installments. This is especially true if both partners are contributing to these payments. It create a clean, clearcut payment process each month.
Know each other's finances.
Discuss your credit scores, debt burden, savings, investments and financial goals. Get clear on where you each stand and how these factors will influence your buying process. Create a budget together as a couple to ensure you can take on not just the responsibility of a mortgage payment but also closing costs, homeowners insurance, property taxes and maintenance costs. Plan for savings like retirement, nest egg, family planning, future vacations, and emergency funds.
Buying a home together as an unmarried couple is a different process than that of married couples. However, that doesn’t mean it has to be harder. With an understanding of what to expect ahead of time and a plan in place, the process can be a smooth one.
No one wants to face a homebuying dilemma. Yet problems may arise during the homebuying journey that make it tough for an individual to find and buy his or her dream residence. Lucky for you, we're here to help you prepare for potential homebuying dilemmas and ensure you can quickly address these issues.
Now, let's take a look at three tips to help you avoid a homebuying dilemma as you search for your ideal house.
1. Craft a Homebuying Strategy
If you intend to embark on a home search, it often helps to enter the real estate market with a plan in hand. That way, you can streamline your house search and boost the likelihood of finding a quality home that matches your expectations.
Think about where you want to live, as well as the features you want to find in your dream home. Then, you can create a homebuying strategy designed to help you discover the right house.
2. Get Pre-Approved for a Mortgage
Obtaining home financing may prove to be problematic for some people. However, if you apply for a mortgage today, you can start your search for your dream home with a budget at your disposal.
There is no shortage of mortgage options available to homebuyers nationwide. Adjustable- and fixed-rate mortgages are two of the most popular options for homebuyers. Meanwhile, banks and credit unions can teach you about adjustable- and fixed-rate mortgages and other home financing options at your convenience.
If you meet with banks and credit unions, don't hesitate to ask mortgage questions, either. If you learn about all of your mortgage options, you can make an informed home financing selection that may serve you well for years to come.
3. Hire a Real Estate Agent
There is no telling when a homebuying dilemma will crop up during your search for your dream residence. Fortunately, if you hire a real estate agent, you can receive expert assistance with any homebuying dilemma, at any time.
A real estate agent understands the challenges commonly associated with buying a home. Therefore, he or she will do everything possible to help you address these challenges as you navigate the homebuying journey.
Typically, a real estate agent will help you craft a property buying strategy, narrow your home search and establish realistic homebuying expectations. He or she also will set up home showings, teach you about different aspects of the housing market and provide homebuying recommendations and suggestions.
If you discover your dream residence, a real estate agent will help you put together a competitive offer to purchase this home too. And if your homebuying proposal is approved, a real estate agent will help you finalize your house purchase as quickly as possible.
There is no need to stress about homebuying dilemmas. If you take advantage of the aforementioned tips, you can get ready for potential homebuying problems and resolve these issues before they escalate.