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.
Some sellers have turned to iBuyers for instant cash offers on their properties, but they have consequently sacrificed the personalization of their home sale.
iBuyers use outdated algorithms to value properties, whereas real estate agents use to-the-minute statistics to generate accurate, competitive prices.
Work with our team of local agents to expertly price your property—and we can even start crunching the numbers for your updated home value today!
Here’s What You Need to Know About iBuyers
An iBuyer is a company that makes an offer on your property by using automated value-estimating technology. Rather than partaking in the traditional home sale process, some of today’s sellers are relying on iBuyers to make all-cash offers on their properties. And since iBuyers use automated estimators to price your home, these companies are able to make their offers almost instantly.
Sellers have varying considerations when it comes to their home sales—some prioritize earning top dollar, while others just want to sell as quickly as possible. So depending on your home-selling goals, iBuyers could be a valid option for you. However, no matter what you want out of your home sale, you should always have an expert real estate agent by your side to guide you through the process.
When pricing your home, you want accuracy—not algorithms
As the local market starts showing signs of a shift, there’s never been a more critical time to know your home’s true value. In the real estate industry, agents price your home through a process called a comparative market analysis (CMA). This process compares your property to recently sold listings in the area that share similar features to your own home. Based on the CMA results, our agents are able to generate a competitive price that will have buyers flocking to your door.
On the other hand, iBuyers use a software they refer to as an automation valuation model, which essentially uses an algorithm to quickly process a property’s data and compute an offer price. When setting a list price for your property, you don’t want to rely on automatic estimators that promise instant (but not accurate!) results—entrust a local agent instead! And when you work with us, one of our pricing experts will evaluate your property in-person to pinpoint its value-boosting features and deliver you an accurate price in real-time.
The ideal timeline of your home sale should be top of mind
This is when your home-selling priorities come into play—if selling your home quickly is your absolute top priority, then working with an iBuyer might best fit your needs. Many iBuyers can make you a cash offer within two days of when they receive your property’s information. Then, if you accept the offer and schedule a home assessment immediately, you could close on your house anywhere from two weeks to two months later, depending on any necessary repairs.
Although the extraordinarily quick timeline of selling your home to an iBuyer may seem compelling, you also have to consider our local market—it’s still skewed towards sellers. According to a recent report by the National Association of Realtors, 87% of properties sold in August 2021 were on the market for less than a month. So with the ball still clearly in sellers’ courts, working with an iBuyer might not guarantee moving any sooner.
Need Selling Advice? We’re All Ears!
Ultimately, determining whether you should sell to an iBuyer is a personal decision based on your priorities. And as your local area experts, our agents are here to guide you through the home-selling process no matter which option you choose. Whether you need to sell your home this week or crave a competitive list price that will earn you a profit, you can count on us to accomplish your home-selling goals.
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.
Buying a house out of state can be a big bite for many of us. Some are even scared to try, and rightfully so. There are many things that can go wrong even when you are buying a house in your neighborhood, let alone somewhere far away. But, don’t be discouraged. If your mind is set on buying a property out of state, this guide will help you ensure the deal goes smoothly.
Do a thorough research
It goes without saying that you should do thorough research before buying a home wherever you decide it should be. Don’t rely entirely on your real estate agent. Of course, he or she is there to help you find the best place for your relocation, but there are some things that should be doublechecked. Furthermore, there are some details about the neighborhood that not even your agent is familiar with. Google can lend a helping hand, you just have to know where to search. Arm yourself with patience and start browsing. There are many neighborhood guides that can be very helpful for getting to know a community of your interest. These guides are great because they tell you a lot about local crime rates, employment potential, weather, and economic stability.
Always do thorough research before making any big decisions
Start early to avoid stress
Searching for a home to buy is stressful under the best of
circumstances, but buying out of state can be incredibly stressful. A house is
usually the most expensive thing that people buy, so the process should be
performed with the utmost care. You can
help yourself a lot by starting the search as early as possible. If you
have decided to move, the ideal time to start searching for your new home is six months before the due date of your
relocation. Three months is also a doable period, but don’t let yourself start
a search later than that.
Be careful when choosing an agent for buying a house out of
state
When
you decide to relocate out of state, you need to find a real estate agent who
will do most of the work for you. And, there is a lot of work to be done. An
international move often means a lot of paperwork, so some people are not sure
whether they should hire a real estate agent or a lawyer when buying
a property.
The best decision you can make is to hire a buyer’s agent in the state you are relocating to. Do not ask a listing agent to represent you since he or she will probably represent the seller. In that case, their job is to sell a certain property for the biggest amount of money and they only have the seller’s best interest in mind, not yours. So, you should choose a buyer’s agent.
A good buyer’s agent is your biggest help
How do I choose a buyer’s agent for buying a house out of
state?
The
buyer’s agent is definitely a better option than a listing agent, but still, you shouldn’t pick one randomly.
Instead, you can discuss it with a real estate agent in your present community.
Find one that you trust and ask him/her
to refer a colleague from the area you’ll be moving to. If the real estate
agent is a member of the National
Association of Realtors, he/she will have access to various databases. They
can even see their colleagues’ success rates. By getting a referral, you can
ensure that you do not become a victim of various realty scams.
Hire a relocation specialist
Have
you heard of relocation specialists?
No, that is not the term used for professional movers such as Gibraltar
Van Lines who can help you relocate wherever
and whenever you feel like. A relocation specialist is a person who can help
you with many aspects of your move. The only thing that they do not do is
negotiate your home purchase. However, they can:
help you find a real
estate agent to start home-hunting;
connect you to moving
companies;
give you the necessary details about the education and employment system in your
future home town;
help you sell and close on your current home which is an important part of
the procedure you have to go through when buying a house out of state.
It
is a common practice for companies that are relocating to hire relocation
specialists. That is why many people do not know they are available to
individuals as well.
Take a trip and get an inspection of your potential home if
you can
If
you are buying a house out of state you will probably not be able to go to
every showing in person. What you can do is ask your agent to give you a virtual tour of the houses that you have
shortlisted. Speaking of such tours, don’t fall for online virtual tours
because they are usually a part of a moving scam.
When the time comes for you to make an offer on the house, you should really make an effort and see everything in person. There are many things that even the best real estate agents will not notice. You will be able to feel the space, and that is something no virtual tour or agent’s descriptions can replace. And you wouldn’t want to make a mistake when making such a crucial decision as buying a house out of state, would you?
Try to go and see the property you are interested in buying in person
Many
sellers would work on some features that make their home sell faster while neglecting some major issues about their property.
That is where a home inspection comes in handy. It might be a burden to your
budget, but at least you will know what you are dealing with.
Close on your current home first
If the out-of-state closing is scheduled on the same day as the closing on your current home, you might have a problem. The lender for your new house must receive a closing statement from the old one. The best thing you can do is schedule the closing on the new house a few days after the closing on your current one.
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.
