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Lessons Learned |
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Protecting Home Base |
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Think Ahead |
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We
are pleased to present you with the latest issue of Life@Home.
Delivered to home buyers, sellers and owners on a monthly basis, this
newsletter is designed to give you the real estate information that is
important to you. In each issue, you will find practical tips and
articles related to buying, selling or owning a home, as well as the
latest news on real estate trends. We hope that you enjoy this issue of
Life@Home. If we can be of any assistance, please do not hesitate to
contact us 510-490-8333 |
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Visit www.Century21banner.com and view our property listings!
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Lessons Learned
 Like
everything else, there is a learning curve to buying a home. The second
time around you will naturally know things you didn’t the first. Here
are three common mistakes made by first-time home buyers during the
home search process and their solutions.
Mistake: Buyers who look at homes before they have a complete understanding of their finances are asking for trouble.
Solution:
Before looking for a property, you should know your finances inside and
out. This includes analyzing savings, income and expected expenses.
Next, order a copy of your credit report. Your credit score will
greatly influence the type and amount of loan you are eligible for.
Finally, make sure you are pre-qualified for a mortgage. This means a
loan officer has reviewed your employment history, debt, income and
other pertinent factors and has pre-qualified you for a certain loan
amount.
Mistake: Looking for a home with your heart
instead of your head. Of course there is an element of emotion during
the home search process, but it is also a business transaction. You
want to avoid falling in love with a certain home and then finding out
it is out of your reach.
Solution: First, look
exclusively in your price range. Next, have a specific list of your
wants and needs. Create of roster of must-haves, bonuses and things you
absolutely don’t want too. This will help you remain objective.
Mistake:
Looking at properties without doing enough research. Curb appeal and
interior charm have their place, but buyers also need to know about the
community where they are buying.
Solution: Use the Internet
to find out all you can about the town. Research local property taxes,
the schools, area transportation and available recreation. Also talk to
people in the neighborhood and local officials. Ask about traffic
patterns, flooding, planned infrastructure projects, etc. Get the
inside scoop from those who know the area best. Your Realtor® or
buyer’s agent is also an excellent resource.
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Protecting Home Base
Once you have purchased a home, you also need to protect its value.
After all, for most people a home is their largest single asset. In
fact it can be the basis for securing funding for other endeavors, like
college or the purchase of a second property. Here are four things you
can do to help your property maintain its value.
1. Dedicate one
weekend each quarter to home maintenance. Clear the calendar and make a
list. Tasks may include power washing, painting, clearing out the attic
/ garage or basement, or removing debris. It is also a good idea to
prepare ahead of time by making sure the necessary supplies and tools
are on hand.
2. Hire the right professionals for certain tasks.
For instance, each year you should have your furnace serviced and
chimney cleaned. Consistent upkeep can help prevent home systems from
failing.
3. Undertake at least one home improvement project
each year. This may include upgrading your landscaping, repairing a
cracked patio, finishing a basement or upgrading electrical capacity. A
commitment to improving your home and property will pay off in the long
run.
4. Get involved in your community. When you bought your
home you made a significant investment in the location. A home is worth
more when it is located in a desirable community. Attend the township
meetings, serve on the planning board or volunteer at your child’s
school. It all makes a difference.
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Think Ahead
November is a time to give thanks and share blessings. If you want to
support your local food bank, start by picking up the phone. Inquire
about what special needs they might have. They could be wishing for
items you just wouldn’t think of. A little forethought can mean a
better holiday for others. |
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