Summertime is most people’s favorite vacation period. Sometimes whole neighborhoods become deserted with everyone on a trip somewhere. Buying a home during summer can turn out to be a better option for you. The reason is the factors that are specific to this time of the year. Keep the following in mind to benefit from all the advantages of summer home shopping.
Summer offers a good time to check out neighborhoods
Your new home is not the only thing you should consider when you intend to relocate. It is also important to check out the neighborhood. Buying a home during summer is particularly suitable for that since most of your potential neighbors will be on vacation. It is a little funny when a new guy walks around the area staring at people’s yards. You don’t want the people living there to think your intentions are malicious. Use these holiday months to roam around your future neighborhood more freely and maybe even take some pictures. The schools are on break as well. You can go check that out without being mistaken for a suspicious stranger.
Also, there is a good chance that the people who have put their homes on the market are also on vacation. Without the owner around, you can take the opportunity to make a more detailed inspection of the house or a condo you are viewing. As you know, there are certain things home sellers are required to disclose by law, but the rest you can make sure you don’t miss by taking a good look at it. And finally, there’s a good chance the real estate agent will tell you more about the property when the owners are absent.
Buying a home during summer allows you to check out the neighborhood in peace.
In summer, days are longer, so there is more time to see the property
Summer is a time when days are longer. It has been scientifically proven that people’s natural energy levels are directly related to the amount of sunshine they get. With that in mind, in summer, it is more likely that the sellers will find it acceptable to have people over on their property until later in the day – simply because it is still daylight. That gives you more time as a buyer when the property is available for you to see.
This may seem like an irrelevant thing to you. Yet, for those working long hours or having a tight schedule, purchasing a home in summer may be more realistic than when the viewing period is shorter. One of the experts from a moving company Beltway Movers, says that many of the people he worked with find it important that every aspect of buying a home is adjusted to their long working hours. Moving into a new home as well as viewing it is much better to do in daylight when the visibility is higher. With that in mind, these particular clients find that buying a home during summer is better suited for their tight schedules.
Take advantage of the fact that there is less competition
As previously mentioned, summer is a time when most people choose to travel somewhere. The absence of potential buyers leaves agents with more time to devote to those that are present. This means if you are viewing a condo or a house, your agent will be able to answer more of your questions. You can even take this chance to discuss the situation on the market and get very useful advice and information. It is vital that you ask all that is of interest to you during the home viewing, so there are no nasty surprises later.
Another crucial thing is that with fewer people around, there will be fewer offers made. You will have a higher chance of getting the home of your dreams for a reasonable price because of that. If you notice there aren’t many people interested in that particular property, don’t wait too long with your offer. It may just be temporary until the vacations are over. Generally, smaller demand generates lower prices, and fewer offers create higher chances that yours will be the most favorable.
Relocating in summer can be done more easily
Moving is never an easy task, especially if your new hometown is on the other side of Virginia. It is always a good idea to hire professionals who will give a helping hand and get you through this complex process smoothly during any season. Nevertheless, there are several reasons why making a big move in the summer is a better idea than at any other time of the year.
The school year is over. Moving when your kids have lots of school activities and disrupting their routines is a nightmare for any parent. Summer offers a solution for that in the form of the end of a school year. Your kids can even help with the move too. Also, enrolling in a new school is better at the beginning of a school year than in the middle. Being a new kid in class is easier than being that new kid who also has to catch up with the classes as well.
The weather is favorable for transportation. Driving a truck full of stuff is easier to do on dry roads. Naturally, they are more common in summer than in any other season. For example, wet and icy roads are often present in fall and winter. Those conditions are something truck drivers dread.
The yard sale is more efficient in summer. Your curb appeal is outstanding in summer. If you intend to organize a yard sale, summer might generate more profit for you.
Consider these reasons seriously. They can make a huge difference between a stress-free relocation and a tedious and nerve-wracking endeavor.
Summer as a holiday season is a good time to move as well
If you are buying a home that is not in your hometown, turn it into a fun trip
Speaking of relocation, aren’t you curious about the attractions and fun activities your new hometown has to offer? As you know, summer has a way of turning even the dullest of places into exploration-worthy areas. Typically, there are more interesting outdoorsy things to do in summer than in any other season. We advise turning this rather business-like activity of viewing potential homes into a trip for the whole family. Whether it is going to be a short break in your future hometown or a more extended staycation of a sort, you have the opportunity to approach buying a home during summer as a holiday with one obligation only and lots of enjoyment.
Those that are viewing a home outside the city they currently live in can turn the experience into a fun family trip.
Final thoughts
Buying a home during summer can be a delight. Use all that long sunny days have to offer in Orange County, for example. As we have seen, shopping for a home in this mainly vacation-oriented season has many advantages. You can even merge buying a home with your own fun family traveling if your new hometown is on the other side of the country. Whatever you choose to do, we are sure this is a part of the year when you will find what you are looking for.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
In a competitive market, you want to make sure you’re doing everything right when it’s time to buy a new home.
Stability with your employment and finances is super important, so don’t make any sudden changes.
Don’t skip out on working with a buyer’s agent—an experienced real estate agent is an invaluable partner.
Buying a home is an exciting and sometimes nerve-wracking experience. In addition to finding the right place, you also have to find the right mortgage, and with low inventory in many markets and rising home prices nationwide, securing your dream home can be a challenge if you don’t make the right decisions when preparing to buy. Here are five of the most common mistakes you should avoid when buying a home.
1. Don’t open or close credit accounts
Because mortgage lenders check your credit multiple times throughout the homebuying process, it is crucial that you do not open any new lines of credit or close any existing lines of credit. Doing so can lower your credit score and increase your debt-to-income ratio, both of which are reasons for a lender to deny approval.
It is always a good idea to pay off an existing line of credit, but closing the account removes that credit history from your report. Credit reporting bureaus use your length of available credit to generate your score, so leave your account open and active, but don’t use it until after closing.
2. Don’t switch jobs
The most important thing that mortgage lenders look at when considering pre-approval is an applicant’s employment stability. Typically, they want to see two consecutive years of uninterrupted income for approval. Any changes to employment status can signal that the loan may not be repaid—it can be a significant red flag that can derail or delay your closing. Make sure to tell your lender right away if a career change is unavoidable or if you do not have two consecutive years of verifiable income.
3. Don’t shop for homes you can’t afford
Typically, most prospective homeowners can afford a mortgage between two and two-and-a-half times their gross annual income. An easy way to think of this is not exceeding more than 30% of your income.So, if a lender tells you that you can borrow a lot more than that, you should probably find a new lender because your monthly payments may not be manageable if you max out your loan. Use a mortgage calculator before you visit with a lender to help you estimate monthly payments.
Also, consider that homeownership comes with additional expenses you will need to save for, like maintenance, repairs, insurance, property taxes, homeowner’s association fees (if applicable), and other unforeseen costs. The last thing you want to do is stretch your monthly budget to cover your mortgage, which will eliminate your liquid cash flow for your other financial obligations, like car payments, student loans, and your savings goals.
4. Don’t skip the inspection
Waiving a home inspection can be a costly mistake, and unless you have extra cash to fix up a home, you are gambling with the cost of unforeseen repairs. Home inspections find potential critical issues with the structure and integrity of a house, such as cracked pipes and water damage. They are built into the home buying process to protect the buyer’s investment.
Paid by the buyer and non-refundable, the home inspection fee is a small price to pay when considering today’s costs to replace a furnace, water heater, roof or other costly items.
Without an inspection, you will have no recourse if a significant issue surfaces after you close on your home. So when you make an offer on a home, include a home inspection contingency that gives you a penalty-free exit from the deal if a major issue is unresolvable before closing.
5. Don’t forget to hire an agent!
Searching for a home on your own is both time-consuming and complicated. That’s why the help of a professional, experienced real estate agent who knows how to navigate the market will guide you to make the best investment of your money.
Also, if you go to showings without a real estate agent, a seller’s agent may offer to represent you. This can be risky because that agent’s goal is to get as much money for their client as possible from you, the buyer. In addition to helping you negotiate, a qualified real estate agent will have access to home listings before the general public becomes aware of them.
Best of all, the cost of enlisting an agent won’t come directly out of your pocket. Instead, the seller typically pays it to the seller’s agent, who splits the commission with the buyer’s agent!
Do Find Your Real Estate Team Today!
When it comes to buying a home, there’s a million little details to keep track of. Work with an experienced real estate agent to help you navigate the entire process, avoid pitfalls, and get you the home you’ve been dreaming of. Contact us today to get started!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
House buying is always an exciting process. Stressful but still exciting. The feeling of owning a property you can call your home is indescribable. Therefore, in this article, we chose not to pay attention to numerous homebuying myths, such as that buying a house at 60 years old isn’t a good idea. Instead, let’s focus on how you can fulfill your wishes now that you are financially stable and plan out your retirement. The following article shares tips for buying your first house after 60.
Tips for buying your first house after 60
Moving homes, even if you were a renter for many years, brings significant changes. Thus, it can be difficult, no matter what your reasons are. For example, you might want to buy your first house because now is the right time or be closer to your family.
For whichever reason you are purchasing a home, you can do a couple of things to make the transition seamless. For instance, hiring a professional realtor to find the best match for you and then hiring a moving company skilled at senior relocations to assist in this process is of extreme value. Then, with the right people on your team, each home buying and relocating will be as easy as possible since they have your best interests in mind.
So, without further ado, let’s look at the tips for seniors on their first homebuying adventure.
1. Hire a realtor
First things first, you need to hire someone professional to lead you through the process. It’s worth keeping in mind that there’s a difference between a realtor and a reliable realtor. Also, you’ll want to make sure the one you end up hiring has credentials, so don’t be shy to ask them about those.
Caption: Hiring a Senior Real Estate Specialist is beneficial when buying your first house after 60.
Alt tag: a realtor with a happy senior couple
If your agent is also a Senior Real Estate Specialist, that can only mean they undoubtedly know what they’re doing. This means they have completed training to specifically help people in the 50+ range successfully buy a home.
2. Check your mortgage options
As a senior, you might have saved up enough money and decided to buy a house and pay in cash. It is an excellent idea if you are not tying up all of your money in the home. Additionally, paying in cash will make you a competitive buyer in the market.
On the other hand, buying a debt-free home isn’t a must. Purchasing your first house after 60 with a mortgage makes your assets liquid. You can still qualify for a competitive mortgage in retirement.
Finally, it would be wise to check with your bank or credit union if mortgage insurance is worth the cost of the premiums. It would be good to have this one, especially if you are risk-aware.
3. Understand your needs, don’t just go for what looks good
The houses you will consider greatly depend on your living situation, income, and plans. However, it would be wise not to be influenced by the property’s floorplan, size, convenience, or location. Instead, you will need to evaluate things differently as a senior buyer.
For instance, large houses might be appealing. However, you might quickly become overwhelmed by all the space you have to maintain after some years pass.
4. Consider the future when buying your first house after 60
As a senior home buyer, your future will be focused on taking care of yourself instead of your children and family.
Therefore, it would be a good idea to look for homes that can easily be remodeled. For example, you might want to look into houses that can be equipped with handicap-accessible features, such as ramps, lower countertops, and doorways.
At a minimum, a home appropriate for aging-in-place should have complete first-floor living with a wide doorway (wide enough for a wheelchair), ideally a step-free entrance, and be close to public transit and community resources.
5. Understand your budget
Apart from your monthly mortgage, you need to be aware of all the other costs. Some of the everyday expenses are:
property taxes
utilities
car petrol
medical bills
groceries
some other debts you might have
any potential repairs and miscellaneous expenses.
It would help if you considered all of these factors when home shopping in your sixties.
Caption: You will need to think of all the expenses before committing to a home purchase.
Alt tag: a man’s hands stacking up on three piles of coins
6. Be realistic about your future health needs
When talking about finances, it would be good to consider what they will be like ten years from now. What type of needs will you have then? If the need arises, will you have the means to hire in-home caregivers? Will you need someone to transport you somewhere or take care of your lawn for you?
Even though we don’t think about the future in this way, it’s wise to be realistic when deciding on such a big step. The seniors who have a strong support system from their children and family don’t have much to worry about. However, sometimes the help of a loved one isn’t enough. For example, your house might need a professional repair, like converting your home to be wheelchair accessible.
Therefore, it would be good to think about your finances in the future and how you will cover some unexpected expenses.
7. Determine your relocation
Finally, once you find the right home, the work isn’t done yet. The moving still awaits. The relocation specialists from Zippy Shell Moving and Storage NV recommend looking for a reputable company with experience in senior moving. Professional movers have the tools and expertise needed for heavy lifting, maximizing packing space, and transporting the items while ensuring safety.
Additionally, you can be in charge of handling your smaller keepsake items if you wish. However, the heavy lifting is best left to a professional to reduce any injury risks to yourself or your things.
Caption: Once you relocate, you can enjoy the process of giving the house your personal touch with your spouse.
Alt tag: buying your first house after 60 means stability and more quality time with your spouse
Final considerations
To summarize, buying your first house after 60 isn’t impossible or that difficult. With the right people on your team who know all the tricks on homebuying, we are sure you will find a home suitable for you, your financial situation, and your future plans.
Meta description: If you’ve rented your whole life and now want to have a secure place to grow old at, here are the tips on buying your first house after 60!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
When you’re making an investment of any sort, there’s one
thing more important than just securing all the funds you need. You also need
to do enough research to make sure you’re going to end up making a truly
informed decision. And in this regard, real estate investments are no
different. Especially if you’re a buyer in a seller’s market – you need to have
all the right data and info. And that’s precisely what we’re going to talk
about here!
Working With A Proper Realtor
If you’re buying in a seller’s market, before you actually
present an offer to your seller of choice; you want to have all the right
information. And in order to do that, you need to have the right representation
while you’re buying a property. If you’re facing a steep
seller’s market, a good real estate agent will make all the difference in the
world. For example, they’ll be able to ask all the right questions when talking
to the seller’s agent and figure out all of the activity on the home that you
need to know about.
Doing Research In A Timely Manner
When you’re buying a home and moving there, you need to do everything you can in regards to making your relocation less expensive than it needs to be. And that means doing all the prerequisite research; not just on the specific property, but on the market in general. Once you’ve gotten the sense of the kind of home you want, or even the preferred neighborhoods that you have in mind; you should start learning all you can about them. This is another thing your real estate agent will be good at, so finding one early on is important.
An informed decision is the only good one!
Separating Needs And Wants
One of the realities of buyers in a seller’s market is pure
and simple – you’ll need to get your priorities in order. It doesn’t matter
whether you’re looking for a vacation home or a house you’ll
primarily be living in. You still need to forego a couple of your less urgent
wants and focus on what you truly require. So, a few compromises on the home’s
condition, the local amenities, or the location will simply have to happen in a
seller’s market; coming to terms with this reality is good for you.
Stay Within Budget
A seller’s market is, as the name suggests – one where, to
paraphrase the old adage, buyers can’t be choosers. With this in mind, you need
to say goodbye to the idea of presenting low-ball offers to your sellers. Find
a price range you’re completely comfortable with, and make sure you stay within
it. If you’re hoping that the seller might drop their listed price down to
something more acceptable for you; that isn’t one of the smart things to do in a demand-heavy market
where sellers have their pick.
Don’t let your chase for a dream home make you unrealistic!
Scheduling Flexibility
Before you can find a good moving company like bluebellmovingandstorage.com
to help you out with your relocation to a new home; you will need to do
everything in your power to make sure you can nab the right property. And that
means one thing – flexibility! You need to learn of the seller’s time schedule
and adjust yourself accordingly.
Usually, it’s useful to learn why the seller in question is
moving away; that’ll be a great hint in terms of your closing date. If they’re
looking to leave in a hurry, they may want someone who can deal with a quick
closing date. On the other hand, they may require extra time to relocate. If
there are other buyers you’re competing with (and in a seller’s market, there
usually are), this will net you bonus points with the seller. Never underestimate
goodwill as a factor!
More Cash Upfront
This isn’t something you can always influence, depending on your budget and personal finances. But generally speaking, a seller’s market reasonably favors people who can offer a larger amount of earnest money. This will, logically, pique the seller’s interest in negotiating with you. When sellers have favorable market conditions and receive lots of offers, a big deposit could be what makes the crucial difference.
Having more cash to offer will differentiate you from the rest of the buyers!
Get Personal
Depending on the seller in question, including some humanity
and emotion into the equation could also be the deciding factor. For example,
you could write up a letter that you’ll include with the purchase offer, in
order for the seller to know your personal reasons for buying the home. Try to
become friendly with them through the letter as well – for instance,
complimenting their home decor or well-kept outdoors.
Remember – many of the sellers still like the home that
they’re selling. That’s why they’d also like for the home to go to someone
who’s going to love it just as much!
Look For Potential
As we’ve mentioned above, a seller’s market does demand a certain
level of compromise from a buyer. That’s why you shouldn’t take any home at
face value; try to find the promise and potential within a good property.
Perhaps you’ll be able to change a currently unfavorable layout later on?
Don’t Overdo Due Diligence
So far, we’ve talked quite a lot about the importance of making an informed decision. However, you should bear the other side of the coin in mind as well. Remember – real estate markets are a dynamic place. In certain situations, sellers will use the “other people are making offers” ploy as a tactic to get you to panic and agree to a less favorable price. Bear in mind though, that in a seller’s market, this is sometimes truly the case. You need to strike a careful balance between due diligence and overthinking, or the perfect home may slip away!
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available properties, please visit our website licatagroup.com
When you’re thinking about buying property, one of the
first questions that pop to mind is, “Should I do this on my own or hire
some assistance?” In a huge majority of cases, the answer is that doing
everything on your own will make the process much, much harder, and we’d also
be very surprised if you got a good deal without some assistance. In most
cases, the only real question is: “Should I hire a real estate agent or a
lawyer?” Both can be of invaluable assistance when it’s time to buy a
property, but the ways they can help differ.
Why
You Should Hire a Lawyer
What makes a real estate agent different from a lawyer when it comes to buying a property? First of all, by law, real estate agents cannot give legal advice. While you are not obligated by law to hire a lawyer when buying a property here (unlike in some other states), you may have some legal questions that only a lawyer can answer. For example, you may want to rent a property for some time (let’s say for a year) before making the decision on whether you should buy the property or not. If the seller agrees to that, an attorney can draft this unusual contract and provide legal advice on the matter that a real estate agent could not.
A good lawyer will help you by answering all the legal questions that a real estate agent cannot lawfully answer.
As lawyers charge an hourly fee,
before buying a property and moving in with the help of experienced
professionals from dumbomoving.com,
it’s a good idea to make a list of all the legal questions you may have and arrange
a meeting with an attorney. Then, you can ask everything you need, as well as
make arrangements on all the additional services you may need that a real
estate agent can’t help you with (drafting the contract from the previous
paragraph, for example).
Why
You Should Hire a Real Estate Agent
While a lawyer will help you with
some specific parts of the home buying procedure, you’ll still need to hire a
real estate agent as well. A real estate professional will be with you every
step of the way, acting as a sort of a guide to your home buying process. And
if you’re buying a property, you’ll be pleased to learn that sellers are the
ones who will pay the agents of both parties. The commission is usually 10
percent of the arranged home price, divided equally between the two agents. The
logic behind this rule is that sellers will be receiving a lot of money, and so
they should be the ones to pay all agents who will take care of the buying-selling
process.
So, if you hire a real estate agent, your wallet won’t have a problem with that; you will basically get an invaluable service for free. And what exactly does that service entail? Buying a property is a complex procedure – lots of paperwork will need to be done, inspectors will need to be hired, a comparative home prices analysis will need to be prepared, etc. While some lawyers will try to convince you that they can do everything on their own, that is most often not the case. Real estate professionals will be better at all of these tasks, simply because they have dedicated their lives to buying and selling real estate; they have much more experience and they know how to use it.
Apart from many other ways that a real estate agent can help you, he or she will be able to find a perfect house for you in the specified neighborhood.
This gives them an edge in all sorts
of home-buying tasks. Apart from the ones we have already mentioned, they are
also much better at negotiating. Let’s say that, for example, some parts
of the home will need to be fixed. You’ll need to determine whether you or the
seller will be the one who has to make these repairs. In this case, a good real
estate agent will help you negotiate an arrangement that is better for you
financially. What’s more, an experienced real estate agent who is a good fit
for you will be acquainted with the neighborhood where you’re looking for your
dream home. He or she will know just what to look for based on your
description.
Additional
Things to Have in Mind
So, should you hire a real estate agent or a lawyer? The answer is – why not both? Combining the individual strengths of these two professions will get you the best deal. Rely on attorneys for legal advice that a real estate agent cannot offer, and hire a real estate agent for everything else.
Before you hire a real estate agent and a lawyer who will seal the deal, you’ll need to have some things in mind. Alt text: A man signing a contract.
Still, simply hiring any real estate
agent and lawyer is not enough; you will need to find a dependable and competent real estate agent, and the same goes for your lawyer. Here is what to look
out for:
Sometimes, it may so happen that an opportunity to share a real estate agent with the seller emerges. In our opinion, that would be wrong to do. As real estate agents make a living off of commissions, they might be looking for the sellers’ best interest in this situation and not yours. Ethical agents who won’t do this certainly exist, but it’s best to be on the safe side anyway.
Real estate agents may press you to offer a higher price because of similarly unethical reasons. The more you pay, the larger their commission, after all. What’s more, some of them will be afraid to negotiate because doing so might mean that they won’t get to close the deal. If it seems that your agent doesn’t respect your opinion and is only looking to close the deal as soon as possible, it is best to find a different agent. Doing research on your own regarding home prices in the given neighborhood will help you avoid such unpleasant situations.
Most lawyers prefer to be hired and paid only after the home buying process is complete. However, it may suit you more to only pay for one consulting session or one or two specific tasks. That can be arranged, just have the arrangement in writing (better safe than sorry).
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
