CHOOSING THE RIGHT REALTOR TO WORK FOR YOU!
So.....you’ve decided that you are ready to buy a home! HOW EXCITING!?!? The home buying process has a reputation of being stressful, expensive and just plain irritating. However, with the right team beside you, there is a chance the whole process can be easier than you can imagine!
When you are choosing your REALTOR, make sure they are able to:
-Walk you through every step of the home buying process in easy to understand language. This should be done before you even start searching for a home.
-Recommend multiple lenders that you can shop. You should never feel pressured to choose a lender just based off of your agent’s opinion. Sometimes your bank, credit union or local lender will have differences that may save you tons of money in the long haul.
-Shop for homes when it’s convenient for you. As real estate agents, we signed up for long hours when we chose this career. If you are only able to see homes late in the evening or only on the weekends, make sure your agent is willing to show at those times.
-Has knowledge about the local real estate market. Your agent should be able to answer questions about how much they think the home is worth or if the price is high/low compared to other similar homes in the area.
-Explain real estate contracts to you before you sign. NEVER sign a document that you do not understand. Contracts are legally binding and could cost you money. Always have your agent go through and review the contract with you. (On a later blog, we will go through super important parts of the contract that you should know.) If you are ever confused about a contract, even after reviewing with your agents, always have an attorney review it.
Choosing the right real estate agent is imperative. They should be helping you every step of the way and should be an amazing resource that will not stop until you succeed in finding the perfect home!
We would love the opportunity to be your team of real estate agents. You will have a full team of 4 people working on your behalf carefully guiding you along the way.
If you are ready to get started, we are here. Feel free to call, text, or email us ANYTIME!
Perhaps you’ve heard about the many benefits
of investing in real estate, like earning passive income, maintaining control
over your investment, and diversifying your portfolio to protect yourself from
changes in the market. Ready to take the leap and reap the rewards, without
taking unnecessary risks? Here are a few steps you’ll need to take to purchase
and start managing your very first investment property.
When you buy a home that you plan to live in,
you can make an offer with a small down payment, but when you’re
purchasing an investment property, you will generally have to put down about 20
percent of the home price. Don’t get discouraged if this means that you cannot
invest in a home in a wealthier neighborhood. Instead, aim to buy
an affordable home in an area where new businesses and services are starting to
pop up. Ideally, you should settle on a property in a neighborhood where you
can expect home prices to increase in the coming years. That way, you’ll be
able to raise your monthly rental price accordingly and bring in more income.
As you conduct your research, you’ll want to
link up with a real estate agent who specializes
in working with investors. Not all agents are created equal, so make sure that
they have plenty of experience with investment properties in the area where you
plan to buy.
After you go through with your home inspection
(you’ll likely spend $300 - $500) and officially
close on your home, you’ll know which repairs and renovations you’ll need to pay for.
During the inspection, make sure to carefully evaluate the quality of the
central air conditioning system, especially if you live in an area where
tenants will frequently use the AC during the warmer months. If the system is
in need of repair, you could end up dealing with some very unhappy tenants when
the weather heats up.
If the inspection results indicate problems,
you may want to negotiate repair costs with the seller. Replacing the central
AC system is an expensive project, but the overall cost will vary based on the
size of your unit, the difficulty of removal and
installation, the necessary materials, and the labor costs for the removal and
disposal of the old system. Overall, you should expect to spend about $3,757 -
$7,277 on installation costs.
and Meeting Tenants
Once you’ve replaced any outdated appliances
and polished up the interior and exterior of your property, it’s time to start
marketing your rental. Bigger Pockets suggests having
professional photos taken to advertise online, listing your property on several
rental sites, and putting up a “For Rent” sign in your front yard.
As you schedule viewings with tenants, use it as an opportunity
to get to know them and learn more about why they want to rent your property.
Going forward with a credit check and obtaining proof of income is the best way
to determine whether they will be able to pay rent on time.
According to FindLaw, landlords are responsible
for repairs, routine maintenance, and letting their tenants know when they will
need to enter the property. Want your tenants to stay long term so that you
don’t lose out on income while the property is vacant? Make sure to respond to
their requests in a timely manner, especially if your property is in need of an
emergency repair. If your tenants know they can count on you, they’ll stick
around for years to come!
Investing in real estate is a smart choice for
your financial future, but it pays to do your research before rushing to invest
in a particular property. When you invest in the right neighborhood, renovate
your property with modern fixtures and appliances, and run thorough background
checks on tenant applicants, you’ll be able to increase the value of your
rental, prevent extended vacancies, and gain a steady source of income.
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Moving into a new home? We know how exciting it can be! We've compiled a list of a few things you can do after your move to make sure your experience is comfortable. The hardest part of a move is getting settled in. After that, let's handle a few loose ends that sometimes get forgotten about till the last minute.
CHECK MAJOR APPLIANCES
Be sure to check all the appliances to ensure everything is still in working order after them move. You want to make sure nothing was broken in the move or stopped working suddenly. Look at things such as your stove, dishwasher, washer and dryer, refrigerator, and microwave. If you brought any appliances yourself and you used movers, you'll want to make sure everything still works with them, since mover's insurance companies give a limited timeframe for when you can make a claim.
CHECK ALL OF YOUR BOXES & FURNITURE
Be sure to go over all your boxes and furniture to make sure nothing was damaged during the move. Be sure that everything has arrived and wasn't lost in the process. If you notice something is missing a month later, it may be too late to file a claim with the moving company. Even if you don't plan on unpacking everything as soon as you move in, just do a quick review and inventory everything you brought to protect yourself and your belongings.
SET UP UTILITIES
Did you remember to set up your utilities before moving in? There's nothing more frustrating than moving into your home to realize the lights don't work. Make sure you've contacted all of the necessary utility companies to have everything turned on in time for your move.
REGISTER INTO A GOOD SCHOOL
You may have already known to look for a school for your kids prior to your move, but if you haven't yet found one, be sure to research all of the schools local to you to find the right fit for your family. The sooner you can find the right school and register, the easier and less stressful it will be to get them in and settle.
CONNECT TO YOUR NEIGHBORHOOD
Join sites like Nextdoor.com or get a subscription to your local magazine/newspaper to stay in touch with what's going on in your neighborhood. Be sure to also join local community Facebook groups. You can find out about events or concerns relating to your community.
GETTING YOUR MAIL
Have you updated your address from all of the people you'll be expecting to get mail from? Like your bank, friends, family and services you still pay for after your move. Check with the post office to have things redirected to your new address while you work to update your info with everyone else.
FIND THE RIGHT PROFESSIONALS
If you're moving far from your last home, you'll want to have the right connections. Find a new doctor, dentist, vet, handyman, plumber, etc. Add them into a contact book that's easily accessible.
EMERGENCY CONTACT LIST
If you're moving to a new country, 911 won't be the local emergency number. Make sure you have all of the correct numbers in the case of an emergency. This can also include doctors, the local police station, a vet, etc.
More than likely, you handled home insurance and home warranty during the purchasing process. If you haven't, be sure to take care of those right away. You'll also want to get your auto, health, and any other necessary household insurances sorted for your move.
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