What to do after you own your home

Buying a house is a fun, exciting experience. What happens next?

Home Maintenance and Repairs

Experts say that you should budget at least 1% of sales price of your home for upkeep each year.

If your home cost $300,000, then plan on spending at least $3000 per year for upkeep.

When is the best time to sell?

The best times to sell your home are when you

  • Need more space
  • Need less space
  • Relocating
  • Appreciated value over 20% of the original purchase price
  • During Spring and Summer

When is a good time to think about buying more properties?

The best time to consider investing in real estate is when you are able to pay your expenses and save significantly. Owning rental properties helps to hedge against inflation. Historically real estate out performs market variable investments.

Staying in contact with your real estate agent

It is important to stay connected to your realtor because they are resourceful. The best realtors service their clients long after the home closing.  You will have many questions as time progresses about upgrades, repairs and equity.  Your realtor should be able to refer you to home related services that will save you time and money.

Our firm specializes in helping buyers and investors of all types. We are happy to share our knowledge and expertise with every client. Regardless of what is needed or desired we will find a way to help you create the optimal solutions for you.

For more information contact us at 888-362-1706

10 Questions To Ask Your Realtor

Most people who are relocating do not have much time to make the key decision of where they will purchase. Wether you are moving across town, or to a entirely new area, when you are searching, please consider asking your realtor the following questions.

How far is the nearest Starbucks?

If you frequent Starbucks, you’ll want to know this. However Starbuck stores don’t appear in just any location. They target key demographics based on median household incomes.  This could be a great indication of where the community is trending.

How far is the local/nearest grocery store/market? 

This affects your quality of life. Can you walk to the store? Can you send your teenagers/friends for you?

What is the turnover rate in the community?

If there are people constantly buying/selling in a community, there could be lots of renters and may lead to lower property values. In the future. A great realtor can tell you stats on an area that may help you make an informed decision on the stability of a neighborhood.

How far is the property from my job?

You may not want to commute to work when you are new to an area. Once you get to know the city better, then moving to the suburbs and outskirts will be an easier choice to make.

How far away is the commercial and private airports?

If you travel for work or pleasure often, it will be important to know. Even If you don’t travel. Living in an area that has access to  airports give you an indication of  the type of people in the area  that will be utilizing these amenities.

Where are the nearest schools located?

Again, this affects your quality of life. Where your children go to school is a big decision for parents.  Will they be able to walk or will they have to be driven/bussed to school?  Realtors are not allowed/advised to make statements about what is “bad, or unsafe”, but they can provide or lead you to statistics that can help you make great decisions for yourself.  A great realtor will readily have multiple resources for you to consider.

What is the traffic pattern near the community?

This question is not often thought to ask when first visiting an area. Road Rage is a real thing.  You should know how close you are to mass transit.  You should know how long your commute will be.  You should also know what other events/projects will affect your ability to maneuver peacefully at your normal expectation. (i.e.  5k races, Concert traffic, Big Events, etc)

What are the demographics of the community?

Realtors will not tell you who lives in the neighborhood, but they can provide you statistical data about the trends of the community. You will want to find a community that best matches your lifestyle choices. For instance, you may not want to buy in an established community with retirees if you are a young effervescent couple planning a family.

What is the distance to major entertainment?

At some point, you may want to leave your home to entertain yourself. You may be the relative or friend that always host friends and family from out of town.  If all the major attractions are significant distances away, they may be something to consider…

What are homes in adjacent communities selling for?

You want to know the price of your future home, but it is equally important to know the price of homes surrounding your community. If you are mixed in with home significantly below your value, you want to access why that is, and how it will affect your capacity to sell in the future.

 Asking the right questions to the right realtor will give you options and confidence in making the important decision to buy now in your relocation. Not all realtors are created equal.  You should work with professionals that sell all types of properties at all price points.   They will have enough knowledge of the area to answer your obvious questions, and those you have not considered yet.

If you are looking to buy or sell your home, we can help you get that same level of service in 50 states. Please contact us at 888-362-1706 or email us mwrealty8728@aol.com

Renovations and Repairs in buying a home

Repairs needed for home purchase

In today’s market where resale inventory is very low and new construction completion times are on the rise. I wanted to give you a few things to consider prior to signing a purchase contract on existing homes.

opportunityBe Ready

You must be ready to have your contractors in place so that you can negotiate before anyone enters a contract. Make sure you have financing understood so that you know what is expected prior to work being done.

Inspection vs. Contractor keep-calm

The home inspection is for your peace of mind. Most lenders do not require a home inspection. We rely upon the appraiser to tell us the property condition.  Without the extension of all the work will have to be being have done?  The most important know how much the repairs are costing you prior to making a decision. This will allow you to negotiate from a position of strength.

Ask an Expert Advisorquestions

When buying a home, you always want to make sure you are working with a realtor that can refer to you to consultants and contractors for replacement/repairs. Realtors are always available to speak with you about your home buying and to make great referrals.  Working with a realtor that has experience with foreclosures and renovations is useful because they will save you time and money.

For more information on how we can help you, please call us at 888-362-1706