5 Common Mistakes First-Time Home Buyers Make

If you are going to buy your first home, you may be excited as well as nervous. This process can be full of complexities. Therefore, you may want to be properly prepared in order to make sure that you buy the best home to satisfy your needs. Given below are some common mistakes that you may want to make during this adventure.

1. Not doing Proper Research

First of all, you may want to understand the needs and finances of your family. For this purpose, you may want to analyze your assets and liabilities. Once you are approved for finance, you can go ahead and start your search for the right house. You should be familiar with your neighborhood as well. Make sure that your neighborhood has quality schools, transport facilities, and other amenities.

2. Opting for the Wrong Mortgage

Before you look for the best house, you should be in the best position to negotiate. Make sure you choose your finance package after proper research. You may also want to use the services of an independent finance broker in addition to your bank. These institutions have access to a lot of finance products and lenders.

3. Waiting too Long

There is no doubt that the prices of real estate properties continue to fluctuate based on the rule of demand and supply. However, if you just keep waiting for the prices to come down, you are putting the future of your family at risk.

So, what you need to do is set your budget considering your future needs. This will help you buy the right house at the right time.

4. Crossing your Budget Limit

It is not a good idea to go beyond your budget limit. You may want to go for a property that can satisfy your budget. Even if you like a house, you should only go for it if it falls in your price range. After all, you don’t want to get in trouble down the road.

All of us want a little more than we can actually afford. So, no matter what your real estate agent suggests, you should never be tempted. Spending more than what you can afford can put you in financial trouble in the near future.

5. Falling in Love

If you have found a house that you have fallen in love with, make sure the seller’s agent does not get even a hint of it. Typically, agents are very smart, which is why they can read your emotions. If you cannot afford a house that you just love, don’t just pay more than what you can afford. You can find a better alternative at the right price.

Long story short, you may want to avoid these 5 mistakes if you are looking to purchase your first home. By avoiding these common mistakes, it will be easier for you to get the right house at the right price. Hopefully, these steps will help you get the best deal without making costly mistakes.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Shalini M

Looking to Buy a Home – Some Important Tips on Timing the Buy

If you have been looking to buy a home and looking for the right lender based on their interest rate offerings, you might be tempted to think that the current time is the right time to buy a home because of the low prevailing interest rates.

When buying a home, low interest rates should not be the sole factor that determines your purchasing decision. You should also consider the long-term repayment commitment that is involved in having a mortgage. You need to consider several factors before deciding to sign your financial future over to a lending institution.

Small interest rate movements can have a big effect

Though the interest rates are still lower, it has started to rise in the last few months. In spite of this, home owners are still willing to go for mortgage loan as revealed by a recent poll of home owners. According to the poll results, 35% of the respondents are not concerned about their ability to make payments even if the interest rate rises. But this attitude can be risky and might upset the balance in your family budget. This can be best illustrated by a following scenario.

Assuming you had taken a mortgage loan of $130,000 for 25 years at 4.5% interest rate. If the current rate of interest goes up to 7.5%, you would have to make additional monthly payments of $230, and your overall interest payments would increase by another $70,000.

This shows how a small change in the interest rates can affect your monthly payments as well as the overall interest payment. You have to take variables like that into consideration when deciding how much you can afford. Young homeowners who are in the age group of 18 to 34 would usually fear the rising interest rates. That’s because they are more likely to have larger mortgage balances. But by having a clear financial plan in place for the next 10 to 15 years, youngsters should be able to overcome this fear.

Getting ready to buy a home

After doing a thorough analysis of your future financial needs, if you have decided that this is the right time to buy a property, then you need to consider the following factors while shopping for your home:

  • How much you can really afford

Based on your financial planning calculations, you would have arrived at a mortgage amount that you could afford. If you have not done so, you have to work on the mortgage amount with which you would be able to still maintain a decent life style.

  • Making the right trade-off decisions

You need to decide on a smaller home or a bigger home, based on your allowable budget. If you are willing to spend less in the future, you can opt for a bigger home. But if you don’t want to make changes to your lifestyle, you might be required to settle for a smaller home.

  • Fitting the mortgage into your long-term financial plan

While determining your long-term plan, you should look at your future earning potential. The monthly payments should not limit your desired lifestyle now or in retirement.

Even after buying a home, its a wise decision to give your mortgage a once-over on an annual basis. Today’s mortgages come with many options such as re-amortization, and making lump sum payments.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Christianne Child

Fast Facts About Renting Vs Buying a Home

Today’s sales in the real estate market are still experiencing weak returns, but many fearless home buyers take the opportunity of making their dreams a reality, and perhaps others (like renters) should think likewise, as there are many advantages to owning a home now compared years back. Although the process of buying a home can be heavy in the budget and emotionally and physically draining, the benefits in the long run will outrun those. Here are a handful of facts about owning a home compared with renting:

1. A smorgasbord of homes for sale to choose from – Although it is difficult to obtain the exact number of homes available for sale listed on the market today, the Internet, on the other hand, is only an indication that the market is flooded because of what the country experienced economically years back. However, real estate listings or multiple listing services (MLS), like Colorado Springs MLS, give home buyers a bird’s eye view on how many properties are listed by a certain a location, say, in Colorado Springs real estate or among Colorado Springs homes for sale for example.

2. The perks of renegotiating on the price – Again, due to the influx of existing homes for sale (Colorado Springs homes for sale included), and some staying longer than usual in the market, sellers are forced to lower their prices, while others would even share costs, and „give away“ their other fixtures, furniture, appliances, and other tangibles, just so to dispose their properties. All these information are usually written or mentioned in the purchasing agreement.

3. Enormous benefits and satisfaction of being a home owner – When you rent, more than likely your activities are limited to and linked with HOA guidelines. As for being a homeowner, you can do what you love doing and to invite as many people as you want in the comfort of your own home. Rebuilding, repairing, rearranging the furniture and everything you would want as an owner is easy, as opposed to renting, when you just have to settle for the limited number of things and what to do in your small space. While it is true that renting may be more convenient for others and owning a home is just for some, it is also true that the benefits of having one’s own home will be incurred and enjoyed for life.

4. Community involvement – It is much easier to establish a long-term relationship between neighbors in a community that in a condominium or an apartment. Other tenants can just easily move elsewhere, rather than when owning a home, you can even participate in community activities and be more involved.

5. Interest rates are at the bottom and even no money down programs can be availed of – If you have bad credit, it can be harder for you to enjoy these privileges. But if you have a good credit statement, then consider this opportunity in no time. You can ask your realtor or local funding agencies for more information about the type of mortgage fit for you and its requirements.

6. Fixed payments and incurring home equity – Leasing can be good, that is, if the monthly rent will remain the same during your entire stay and rental property owners will be gracious in doing so (which is oftentimes doubtful as maintenance or upkeep is relative to economic circumstances). As when you choose a fixed-rate mortgage (whether 15- or 30-year loans), the amount you pay regularly is fixed during the whole loan period. Plus, the fact that your payment is building up on something tangible, and quite rewarding when that day comes when you officially own the home you paid for.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Lovely Maize

How To Create The Best Real Estate Listings

When someone is trying to find a new home, they may look up real estate listings. These listings may hold information that is crucial to picking out the right place to view. Some people will look through pages of listings and make a short list of homes there would like to view in person. Find out what makes a good listing and how to sort them out.

One of the first things that a person will look for when hunting for a home, is the location. They may type in a city and a certain area that may be important to them. If nothing really pops up, then the person could change cities or broaden their search.

Pictures of some listings are important to help lure people to it. Many people will scroll down the list of homes in the area and may stop only at the ones that are appealing. This photo is important in capturing the essence in the rest of the ad. If someone is taking a picture of their house or condo, they should pick the best picture from the outside and use that for the main cover.

On the inside of a listing, there will need to be lots of important information disclosed to the buyers. This information could include the size of a home along with measurements in each room. Number of bedrooms is important as well as the number of washrooms present on each floor. Some people will type in specific items about their needs in order to refine the search.

Main features will be highlighted in a section about the listing. This information may include some top features in the home. Things like AC, central vacuum and a fenced backyard could be ideal choices for someone who is looking. Some people want to know if the basement is finished and what aspects of the listing are new.

If there are any new features or work that has been done, a listing is the place to highlight it. New flooring, a new roof, windows and furnace could be of importance to a buyer. Someone searching through many listings and advertised homes may find that just a few have some of the things they are looking for.

Pictures taken in the rest of a home, can help to take people inside the home for a quick glance. Homeowners may snap photos of all the best qualities of any inside and outside highlighted spots. These images can help to create an image of a listing that some viewers will want to see. If there is something outside that looks special in the home, that shot could be taken and posted on a listing. A great deck, pool area, or garden could be an image used to post in a listing.

When real estate listings are used to help people find homes, they can help to narrow down a search. Buyers can use sites that help them key in on specific locations, sizes and features. Pictures and additional information can prove to be important when hunting for a new place to live.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Adriana N

Tips To Find the Best Homes For Sale

Are you on the verge of buying a new home in the city? It can be a thrilling episode altogether if you’re planning to change the neighborhood or moving to a new city. The townhouses stand to be a favorable choice for most property buyers interested to move to cities. The traditional narrow and terraced houses with more than two to three floors are good choices for families looking forward to budget homes. Again, investors consider buying such properties for their future benefits. But, if you and your family are excited to get a new residence in the town, few suggestions might help you.

Make your priority list

If you have a family with you, then you guys should sit along and discuss the priorities based on which choose the townhouse. For instance- a single person’s apartment differs from that of a family. If you are a family person with one or more kids, you need sufficient space for the children. You’ve to think about the future when your kids will grow up and will seek individual rooms. If you have are intending to buy this property as your permanent address, you have to consider the future. Moreover, you need some extra space, if you’ve pets along with you.

Stick to the additional features

Along with the spacious rooms and the living area for the family, you might have the interest in some special and additional features. It might include the number of balconies, how the rooms are faced, whether the rooms are receiving ample light and air and so on. If you have kids, you need to buy an airy home that receives ample sunlight and fresh air. You can also have a preference of choosing a sea facing or a riverside property so that you can enjoy the view from your townhouse.

Location matters

The location has a very important role to play when you are looking for the house. You gave to stick to the priorities and the location that might also include the priority list when you are about to choose a new residence. Make sure the area has easy access to the marketplaces, gas stations, medical stores, hospitals etc.

Take the help of a reliable real estate agent to find the best homes for sale in your preferred location. Make sure, the professional has the reputation of having the most updated property listing in the area. Besides, the agents help throughout the whole process of selecting and buying the house.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Rajesh B Sanghvi

Homes for Sale – Staging Tips

When homes for sale go on the market the homeowner hopes for a quick sale but sometimes it can take a couple of months before that happens. Even if you have perspective buyers looking at your home it can still take awhile. There are some staging tips that homeowners can use to help make a quicker sale. One of the purposes for staging homes for sale is to help make buyers feel that your home offers them everything that they are looking for in a home. It is all about presentation and preparation with the goal of getting a higher market value for your home and selling it faster.

One important thing to remember before you have potential buyers coming into the home is get rid of the clutter and dirt. Make sure that things, especially personal things, are packed and put into storage. This can include family pictures, extra books sitting on tables, etc. You should also make sure that your bathroom and kitchen counters are clean and clutter free. Wipe off the doors of the stove and refrigerator. The dishes should not be left in the dishwasher or in the dish rack on the counter. If you have a cat do not leave their litter box in plain sight but move it to the porch or even the garage. You want the prospective buyer to look at your home and be able to see their stuff there.

Arrange the furniture away from the windows if possible so the potential buyers can see the windows and out into the yard. Make sure the windows are clean and streak free. Make sure that the curtains are pulled back to let in the natural light. If you have hardwood floors make sure that they are clean. Look at the furniture in the rooms and if you can move some to storage do so. Too much furniture can make rooms look smaller and more cluttered. On the couches and chairs do not overload them with throw pillows.

Check your closets and pack up out-of-season clothes or clothes that you are not wearing and also put them in storage. When potential buyers are looking at homes for sale they will want to open closets to check out the room to see if they are big enough for them so you want them to be able to do so. You do not want the buyers to see an overstuffed closet. The same thing goes for the kitchen cabinets, and bathroom closets. If there are lights in the closets make sure they are working.

You should also look at the outside of your home to make sure that the lawn is neatly cut and any flower beds are neat and clean.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Lora Davis

The Benefits to Buying a Condo

One of the many benefits you will find when you choose condos for sale over other properties is that you don’t have to worry about any exterior maintenance. When buying family home, you need to keep a budget aside for those unexpected external emergencies, such as a damaged roof, a tree that falls down in your garden or even your exterior walls being damaged. When buying a condo, because it is a complex, the Homeowners Association will be responsible for handling all exterior work, so you can enjoy your home now and in the future with complete confidence.

Another major benefit to condos for sale is security. These days you want to keep your home and your family safe and secure. Having added security is a major benefit to provide you with complete peace of mind, which provides you with the convenience of a lock up and go property. You can lock your front door and head off for a week or two knowing that everything will remain safe indoors and you don’t have to worry that someone may try break in while you are away.

Of course condominiums come with the added benefit of a host of amenities and facilities. The majority of these complexes will offer you the convenience of a lock up and go property with a communal swimming pool and maybe even a fitness center, depending on the complex. Some will come with laundry. With these added amenities you can enjoy all the conveniences of a home while having your own space which is modern, luxurious and finished to the highest quality.

Condos for sale are in the affordable price range. They are more expensive than an apartment, but they are usually on a par with a single family home, depending on where you buy and the area. Of course location is essential and if you are looking for luxury and convenience in a prestigious area, then you will find that condos for sale work out cheaper than the homes in the surrounding area. This helps you get your foot onto the property ladder in an exclusive area, offering you a good return on your investment in the long run.

Outside spaces will be cleaned for you, the pool will be maintained and the equipment in the fitness center will be up and operational at all times. If the building has an elevator, that will be regularly serviced. These are all things you don’t need to worry about, you can furnish your condo, move in and start enjoying condo life without delay.

Of course when there are benefits, there are always a few disadvantages and the same applies to all condos for sale. This is why if you are looking for property to purchase and you are considering a condominium, you may want to weigh up the pros and cons of all the property options within your budget to identify if this is the right choice for you moving forward.

One of the disadvantages to buying a condo for sale is that you have strict rules to abide by. The Homeowners Association will put rules in place that all the units must follow. The reason for this is to make living in the complex more enjoyable for everyone.

The second disadvantage is that you will have to pay Homeowners Association fees, which are in place to pay for all the exterior and daily maintenance of the complex, so your condo is always somewhere enjoyable to live now and in the future.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Reg Liyanage

Pricing A House To Sell!: 4 Keys

Before, any discussion, on what assists, in selling a house, it is essential, to understand, it generally comes down to determining the right price/ pricing a house, to sell! Many factors, may determine, what that should be, but, far too often, the public sees only the listing price, and fails to realize/ consider, very often, there may be a significant different, between, listing, and selling prices! In addition, several factors, largely, influence, what the end – result, may be, including, factors, such as: exact location/ area; how it compares to other houses, for sale; homeowner’s needs, perceptions, feelings; how it is shown; and, how it’s marketed, to the public, etc. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 4 keys, in this process. After, more than 15 years, as a Licensed Real Estate Salesperson, in the State of New York, these are discussions, I often have.

1. Professional knowledge/ expertise, and the quality of a professionally designed, Competitive Market Analysis (CMA): Perhaps, the principle advantage of hiring a real estate professional, is, taking advantage of his professional knowledge, and expertise, in order to achieve one’s goals, etc! Every neighborhood/ area/ region, etc, has its specific, often – unique, characteristics, which may influence pricing, etc. The best approach, therefore, is taking, full – advantage, of a professionally designed, Competitive Market Analysis, or CMA. When this is done, it takes into consideration, factors, such as: present competition (on the market); tracking differences between Listing Prices, and Time on Market; comparison between listing, and selling prices; Expired Listings; etc. It means, there should, then, be a correlation made, which takes as much relevant, current information/ trends, etc, as possible, and recommend, a range, for the original price, to list a house.

2. Determine niche: Many houses, should appeal, to specific niches, perhaps, because of location, pricing, specific features, specific street (advantages), number/ type of rooms/ bedrooms/ bathrooms, style of house, and lot features, etc. If a home fits into one of these, a wise agent, will tailor his marketing, accordingly!

3. Price to sell, from the start: Perhaps, the biggest error, homeowners make, is believing, if they ask more, they will end – up, with a better selling price. While, perhaps, occasionally, it may be so, more often, the wisest course, is to price a properly, right, from the start! Numerous studies, and, analyses, indicate, sellers get their highest offers, in most cases, in the first three, to four weeks, so, doesn’t it make sense, to set your price, accordingly, to attract quality, real buyers?

4. Best marketing plan, for specific property: Selling houses, is, rarely, one – size – fits – all, so, the best, most relevant, customized, marketing plan, should be used, and thoroughly discussed, from the onset.

Since, for most people, their home, represents, their single – biggest, financial asset, when, the time comes, when it makes sense, to sell one’s house, take advantage of the time – tested, principles, and, hire a quality, real estate professional! Make the stressful transaction period, go, as smoothly, and beneficially, as possible!

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Richard Brody

Weary of Looking at Houses for Sale in Cork, Ireland?

And what about when you do eventually manage to get the details of a couple of suitable looking properties for sale in Cork (going by the agent’s details at least!) – which haven’t also gone `Sale Agreed‘ almost as soon as you hear about them – you set off to the viewings in excited anticipation of at last finding your `dream home‘ only to be bitterly disappointed when you discover that they are either located miles from anywhere (shops, buses, trains, schools, etc.) next door to a smelly pig farm or are slap-bang in the middle of a busy through-road!

Not to mention the sheer waste of your precious time, effort and money criss-crossing the county (or even the oceans if you’re still living abroad whilst looking at suitable houses for sale in Cork!

From the `wild and wooly‘ areas of Bantry & Glengarriff in West Cork, south east to the vibrant towns of Kinsale & Clonakilty or heading north to Cork City itself, Blarney and Mallow, Cork is a very large county with an abundance of differing styles as well as prices of property to view.

With so much physical ground to cover, where you might easily have to drive for 2-3 hours between viewings, what a relief it would be if you could instead instruct independent house hunters to do the whole property searching and buying process on your behalf.

Appointing a reliable, independent firm of house hunters to act on your behalf will take all the `drudge‘ out of doing the rounds of estate agents/auctioneers and/or searching the property website portals into the wee small hours in the hope of unearthing that `property jewel‘ before anybody else finds it.

By appointing an independent house hunter to act on your behalf – who has also experienced the house-buying process in Ireland themselves – will pay huge dividends down the road as they will be best placed to save you time and money when negotiating the best possible price for your dream home.

Again, because of the wide diversity of property types, sizes and locations, etc. in Cork, asking prices for properties can vary enormously. From the dizzy heights of several million euro for the larger detached houses in and around the Kinsale & Cork City areas to the more modestly priced country cottages around Glangariff, Garrettstown and Skibbereen – with prices reducing accordingly for smaller, semi-detached and terraced properties more often found in the larger urbanisations such as Carrigaline, Douglas, Wilton and Middleton.

From the older, more `challenging‘ properties to the newly-built less demanding ones, a knowledgable house hunter will have learned invaluable lessons along the way as to what to watch out for when purchasing a property in Ireland.

Naturally, all the usual `caveats‘ apply to house buying in Cork – starting with the three most important factors to consider when buying anywhere: „Location, Location, Location“. Right through to the perhaps less well known elements noticeable to the untrained eye such as structural condition, accurate market values, etc.

Initial consultation/meeting

This is your chance to provide as much information as you can so that your house hunters will know exactly what you are looking for in your `dream home‘ in Cork and, most importantly, that you are eligible to purchase a property in Ireland. They will discuss your needs and also advise on practical issues such as local schools, shops, travel links, etc. This should be a free, no-obligation consultation.

Previewing and viewings

Using your brief as a guideline, and once the `paperwork‘ has been completed, your property search agent will then search the Cork housing market on your behalf doing all the legwork for you – including previewing suitable properties that fit your requirements. Your house hunter should then draw-up a short-list of the most suitable properties for you to view – always accompanied by one of their team – as well as offering additional helpful advice as needed.

Negotiations and acquisitions

Your appointed independent house hunters will take care of the negotiations, bargaining as hard as possible on your behalf, to obtain the best possible price to secure your dream house in an extremely competitive market.

Hassle-free conveyancing

Because the Principals of the business will have experienced the Irish house-buying process personally they will also be able to put you in touch with a wide range of reliable professionals and trades-people with whom they have forged long-standing relationships should you need them.

For example: Solicitors, Financial Advisors, Architects, Surveyors, Plumbers, Painters, Decorators, Roofers, Structural Engineers, Electricians, Gardeners and Removal Companies.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Alan F Whitehead

How To Buy A House?: Begin To SAVE, Now!

The wisest home buyers, enter, into the process, in a prepared, well – considered manner, in order to make the best, possible decisions, regarding their home purchase! If one hopes to buy a house, it makes sense to prepare, thoroughly, especially, when it comes to the financial aspects of any transaction, etc. Since one’s house, generally, is their single – biggest, financial asset, doesn’t it make sense, to proceed, with a plan, and a path, to accumulate and SAVE sufficient funds, to make this, often – stressful, period, as tension – free, as possible? With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why, this strategy, makes sense, and is important.

1. Strategy; solution/ solving; serve; stronger: It takes commitment, discipline, and a willingness to proceed forward, with a financial strategy, to save and accumulate, as many funds, as possible! How can one proceed, with a viable solution, focused towards solving, the financial preparation, needed, when seeking to purchase a home – of – your – home? When, someone has the discipline, to take the steps, to make hims stronger, and better – prepared, doesn’t that serve the most good?

2. Attention; attitude; action plan: Will you pay sufficient attention, to all the necessary details, to make this process, as simple, and stress – free, as possible? Will you let your fears, and negative thoughts, dominate, or will you be smart – enough, to proceed, with a well – considered, positive, can – do, attitude? This process is not a passive one, so, it’s important to consider, the best action plan, to bring you forward, accumulating sufficient funds, for the down – payment, closing costs, necessary reserves, and all other financial necessities, needed, to bring this part of the American Dream, forward, for you!

3. Visions; values; value: Do you personal visions, and dreams, include owning your own home? What type of house, including costs, style, location, needs, and priorities, align with your personal values? Be certain, your plan, makes sense, in terms of overall value, etc!

4. Excellence; enrich; expectations: What does excellence mean to you, in terms of where, you live? Are you, focused, on the best way, to enrich your experiences, and prepare, to minimize stresses and strains, especially financially – related? What are your expectations, in terms of home ownership?

If you hope to buy a house, begin, as soon as possible, to have a well – considered savings plan, and commit to SAVE! Are you up to the task?

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Richard Brody

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