4 Most Common Mistakes First Time Buyers Make

4 Most Common Mistakes First Time Buyers Make

Buying your first home can be a very exciting, nerve wrecking, and rewarding process without the right direction. So much rests on this transaction and if not done right it can cost you thousands of dollars and lots of stress. Being a first time home-buyer specialist, I make it my priority for every client to know what the process entails and how to make it easier. Here are the 4 most common mistakes First Time Home Buyers make. Not Listening to or Seeking Professional  As soon as you mention your buying a home, all your friends and family will give you their horror stories. While I wont say don’t listen, I will say that’s not exactly your fate. Being in the business long enough, I will say every deal has a bump and no two are the same. As soon as you think to begin the process, your first call should be to a trusted area Realtor (Me, lol). Reason being, we know the best ways and programs you can utilize to get the most out of your purchase. We can also send you to the best loan officers in the area and likely save you a lot of money and frustration. Not Learning the Process If you fail to plan, plan to fail. Knowing what you’re getting into step by step, will save you lots of time as well. What we call a buyer consultation is where we sit and go over the process and make sure you know what is going to happen. Again, no two deals are the same and there will always be issues that...
4 Things To Do While Saving To Buy A Home

4 Things To Do While Saving To Buy A Home

Being a first time home buyer, you do have some homework to do outside of just choosing a realtor. The realtor can explain and direct you to the best of their abilities in purchasing your home. Aside from the obvious step of saving money, here are 5 things you can do to make the process that much easier. Understanding the full cost of home ownership When you rent, the one payment covers just about everything (utilities excluded). You’re not fixing the broken sink, appliance, or any taking care of the grounds, its the owners responsibility. These are things as a new homeowner you need to brace and prepare for. Luckily, in most first time home buyer situations, taxes and insurance are included in your monthly mortgage due to the type of loan product most popular with first timers. If you’re pursuing a condo, you’ll have to factor in that condo fee (HOA) as an additional expense. These are all things you need to factor in and decide if you will be able to afford as well as the new mortgage. Know the Buy Vs Rent Pros and Cons Renting may actually be a better option for some individuals. Maybe somebody that isn’t completely set on living in a certain area due to career or personal factors. Some people aren’t able to own a home because they don’t have the time or funds to maintain it. Buying is becoming cheaper than renting in most areas of the country due to the tax breaks at the end of the year set for homeowners. This is something that you and a realtor...

The 5 Reasons You Should Buy Your Home This Fall

With all the beautiful Connecticut foliage, happenings, and fairs going on during another New England fall season, real estate is something else you should have an eye on. While spring is the most popular buying season, here are 5 reasons you should buy a house this fall. What’s left of Spring Inventory may work for you As stated before Spring is when most sellers list their home initially, but what happens when they don’t sell? Most sellers stay on the market in hopes of selling and may end up with a home that sells less than its market value. Less Buying Competition A biy motivation in buying is closing before school starts, and now that time has come and gone. Many are also hesitant to buy in the fall and cooler months of the year. Many Sellers want to close by years end Some properties aren’t homes and investments for some owner, so the tax consequences can be motivation for a seller to make a deal. Some agents even convince sellers to offer incentives and extra discount to buyers whom can close by years end. Homes on the market during holidays usually have motivated sellers Many don’t like their home to be viewed or open during holidays and disrupting their family gatherings and events. If a seller is listed during this time, then in most cases they’re motivated and likely to work harder to put the deal together. The great landscaping is gone Flowers are starting to die and trees losing their leaves so the beauty of the landscaping for homes is going away. This will let you know...
5 Areas To Focus On To Add Value To Your Home

5 Areas To Focus On To Add Value To Your Home

Once you make your house a home, the value of it multiplies to you. You’ve raised your family there, likely grew in many areas of life, and it may have even been your first taste of home ownership. While all of these are great things and views on why your home is great, that doesn’t necessarily add monetary value to your home. The next buyer won’t really look at your home that way and rightfully so, being real estate transactions are a business. If you’re looking for some areas to focus on to add value in the eyes of buyers to your home, here are the 5 places to do so. Kitchen This is usually the biggest and best place to add value to that home. Whats usually the first thing people fall in love with in a home? Its usually the kitchen. While a major renovation can and will be costly, doing minor projects can get you there and to the same place. Maybe choosing to refinish existing cabinets as opposed to replacing the entire space of cabinets, can save you thousands and have the same look. Step by step is always the best way to go for somebody on a budget. Shopping around and tying all your ideas together will get it done and get that kitchen ready to make your home that much better. Bathroom Updates The smallest room can add big value to every other space in that house. Being that it is the smallest, it usually doesn’t cost too much to make it shine. Less floor space make it easier to re-tile the floor,...
5 Steps To Start Improving Your Credit

5 Steps To Start Improving Your Credit

Credit is a vital part to success and ease in your adult life. Having bad credit will result in you having to pay more in interest rates on cars, homes, credit cards, and even personal loans. If your credit score is really low, you’ll likely come across a denial in more cases than not. So what do you need to do to start on the path to improving your credit? Here are my first 5 Steps to Improve Your Credit KNOW WHERE YOU STAND In order to solve the problem, you must first know where you stand. There are several places online that offer a free estimate of where your score is (most popularly www.creditkarma.com). Visit Annualcreditreport.com to pull a report from all three bureaus. Although you wont have a score, you will see the things that are reporting and things you need to address and have possibly disputed. START TO BUILD YOUR CREDIT HISTORY While removing bad or inaccurate items off your reports are helpful, they wont necessarily make your score rise. You have to maintain and have all credit accounts in good standing. The easiest and best type of credit to get is a revolving credit or secured credit card. They usually report monthly to all three bureaus and if used correctly will lift your score. The biggest rule of thumb is to keep every balance under 30% of the available limit. RESEARCH CREDIT OPTIONS AND DON’T JUMP AT FIRST OFFER Just because you get a card offer, don’t just accept. Most people don’t read the fine print of the card info. Be careful to see what the...

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