Realty Vision


Posted by Realty Vision on 12/27/2018

A home inspection may make or break the property buying journey. If you attend a home inspection and find no major issues with a residence, you may choose to move forward with your house purchase. However, if a home inspection reveals significant problems, you may decide to rework a home purchase agreement or walk away from this agreement altogether.

If you plan to purchase a home, it generally is a good idea to include a home inspection in your property buying strategy. And if you know how to plan for a house inspection, you can use this evaluation to gain the insights you need to make a data-driven decision about a home purchase.

Now, let's take a look at three tips to help you prepare for a home inspection.

1. Hire an Expert Home Inspector

With an expert home inspector at your side, you can gain comprehensive insights into a house's overall condition. Then, you can obtain an in-depth inspection report to help you weigh the pros and cons of purchasing a residence.

It is important to conduct an extensive search for the best home inspectors in your area. Search for home inspectors who boast many years of industry experience and come highly recommended from past clients. By doing so, you can find a home inspector who will meet your expectations.

2. Craft a Home Inspection Checklist

It often helps to enter a home inspection with a checklist. If you have a checklist in hand, you should have no trouble conducting a full home evaluation.

You should include all areas of a residence's interior and exterior in your home inspection checklist. Furthermore, you should include a home's heating and cooling system, roof and other key parts of a house in your checklist.

3. Consult with a Real Estate Agent

Preparing for a home inspection may prove to be stressful. Thankfully, a real estate agent can help you get ready for a home inspection and ensure you can make the best-possible decision regarding a house purchase.

A real estate agent is a homebuying expert who is happy to help you at all stages of the property buying journey. In the days leading up to a home inspection, a real estate agent can respond to any of your concerns or questions so you can prepare for the evaluation. Next, on the day of the inspection, a real estate agent will attend the evaluation with you. And after the inspection is complete, you and your real estate agent can discuss the assessment results and determine how to proceed.

Ultimately, a real estate agent can help you streamline the home inspection process. He or she may even be able to put you in touch with the top house inspectors in your area, thereby increasing the likelihood that you can identify any major property issues before you finalize a home purchase.

Ready to conduct a home inspection? Use the aforementioned tips, and you can enter a home inspection as an informed property buyer.




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Posted by Realty Vision on 12/6/2018

If youíre looking to buy a new home anytime soon, getting your finances in order is an excellent first step to getting the keys to your dream property. No matter where you want to buy a home, your financial picture is the most critical aspect of buying a home. Read on for some tips to get you financially prepared to buy a house.


Set A Savings Goal


Buying a property will require a significant amount of money up front. From closing costs to the down payment, you need to set a specific amount to save up before you even get out on the house hunt. 


Break your savings goal down by month over a yearly number if you have multiple years before you buy. 


Have A Specific Account For Savings


If you donít see it, you wonít spend it. Tuck all of your savings in one account. Use automatic transfers to make saving from your paycheck easier and seamless. Before you even check your account, youíre on your way to your savings goals. You may not want to keep your money in higher yield accounts. These may not allow you to take the money out when you need it. Take the time to shop interest rates on savings accounts at different banks. Some may even offer a bonus. Just remember always to pay yourself first. Donít be tempted to spend the money that you have saved.    


Rethink Your Budget


Depending on the amount that you want to save to buy a home, you may need to cut costs significantly. Take the time to do a budget and see where you may be able to cut down on costs. Should you cut the cord on cable? Are you going out to restaurants too often? Another idea is to call your phone company and other utility providers and ask about discounts. You may need to make some lifestyle and budgeting adjustments in order to get on your way to your dream home.


Use Gifts Wisely


Did you get a big Christmas bonus from work? Did a relative give you a monetary gift for your birthday? Take all of the extra cash and stash it away in the account thatís dedicated to your home savings. It will only help you to achieve your goals faster.


Keep Your Accounts Stable


Before your loan can close and the keys to your dream home are yours, youíll need to make sure you donít make any significant purchases. You need a paper trail for all of your money. Before you buy a home is not the time to go nuts and buy furniture or buy a car. These things can affect both your credit and debt-to-income-ratio.   

      





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Posted by Realty Vision on 11/15/2018

Buying a home will likely be one of the largest financial decisions you will make in your lifetime. While this may seem scary at first, itís worth noting that buying a home can also be a valuable financial investment.

When it comes to preparing to buy a home, many people just wait until they run out of room in their apartment before deciding that they need to upgrade to a home. A better approach, however, would be to start planning for your first home a year or more in advance.

Saving for a down payment is a vital step to making the best long-term financial decision. A larger down payment can help you pay off your home sooner, pay thousands or tens of thousands less in interest, and start using your home equity as an asset.

But, saving for a down payment is easier said than done. So, in this post, weíre going to talk about some of the ways you can aggressively save for a down payment so that, when the time comes, you can achieve long-term financial security from your investment.

Setting your savings goals

The first thing you should be thinking about when saving for a down payment is what your goals are in a home. Setting realistic goals in this phase will make saving for your down payment more feasible and less discouraging.

Think about what you really need from a home at this point in your life and compromise where you can.

Remember that on top of your monthly mortgage payments, youíll likely also be paying for taxes, insurance, utilities, homeowners association fees, and more.

Save on a timeline

When setting your savings goal, make sure youíre aware of the timeframe youíre working with. If you want to buy a home next year, youíll need to focus on short-term savings options. However, if youíre okay with renting for the next 5 years, investing your money could be a better option.

Lock away your savings

Treat your down payment savings like an emergency fund. Open a separate account, automatically deposit a portion of your pay into the account, and never withdraw from it. To do this, you will, of course, need to already have an emergency fund with a monthís expenses in it.

However, once youíve established your emergency fund, start immediately depositing into your savings account.

Pay off credit cards

It may seem like saving for a down payment is more pressing than paying off old debt. However, the numbers will show that making interest payments on your credit cards is essentially throwing away money that could have been used toward your down payment savings.

Adjust your spending habits

While it isnít easy to start spending less once youíve built a standard of living, there are ways to spend less money and still lead a fulfilling life. Think about where your money goes each month, including bills and services you might pay for.

Now could be the best time to cut the cord and start using a service like Hulu to save $50 or more each month.

Time for a raise?

If itís been some time since your last pay raise, now could be an ideal time to speak with your employer. To improve your chances of success, donít discuss reasons outside of work that might be influencing your decision to ask for a raise (such as saving for a down payment). Rather, back up your request with evidence of your accomplishments at work.




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Posted by Realty Vision on 9/6/2018

If you are preparing to buy a house in the foreseeable future, you'll want to check out lots of home listings. That way, you can browse dozens of residences at your convenience and boost your chances of finding a terrific house.

Ultimately, there are several factors that homebuyers should consider as they evaluate house listings, and these factors are:

1. A Home's Age and Condition

A home's age and condition are key considerations for all homebuyers, at all times. If you assess a house's age and condition in a home listing, you may be better equipped than ever before to determine whether a residence is right for you.

Oftentimes, a home seller will provide the year that a residence was built in a house listing. A seller also may include details about any home upgrades and when these were performed, such as the installation of a new roof or heating and cooling system.

Study a house's age and condition closely Ė you'll be glad you did. If you evaluate these factors in a home listing, you can narrow your home search as needed.

2. A Home's Price

You know that you want to acquire a house, but you need to consider how you'll pay for a residence too. Fortunately, a home listing includes a house's price, ensuring you can find out whether a residence falls within your price range.

If a house exceeds your price range, you may still want to check it out as well. Remember, the initial asking price of a house is not set in stone, and you may be able to negotiate with a home seller.

For a buyer who reviews a house listing and is unsure about whether to pursue a residence based on its price, assistance is available. In fact, if you meet with local lenders, you can evaluate many mortgage options, get pre-approved for a mortgage and establish a homebuying budget.

3. A Home's Location

Think about whether you want to live in a city or town as you assess home listings. By doing so, you can perform a fast, efficient home search and increase the likelihood of discovering a house in your ideal city or town.

Furthermore, it usually is a good idea to think about your day-to-day activities prior to looking at home listings. If you want to own a house that's close to your office in the city, you may want to review home listings for residences in or near the city itself. Comparatively, if you prefer small town living, you can examine home listings in small towns across the United States.

If you need assistance during your home search, you may want to hire a real estate agent. This housing market professional can provide timely, accurate home listings for residences as soon as these houses become available. As a result, a real estate agent can make it easy for you to pursue many outstanding residences and find one that you can enjoy for years to come.




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Posted by Realty Vision on 8/23/2018

Ready to purchase your dream home? Before you finalize a home purchase, it may be worthwhile to schedule a home appraisal.

With a home appraisal, a property expert will examine a residence both inside and out. The home appraiser then will offer a property valuation.

In some instances, a home offer may be appraisal-contingent. And if the home appraisal valuation falls below the amount of a buyer's offer, the buyer may request a renegotiated price.

A home appraisal may prove to be an important part of the homebuying process. As such, it is paramount for homebuyers to understand what an appraisal is all about and determine whether to conduct an appraisal.

To better understand home appraisals, let's take a look at three home appraisal facts that every homebuyer needs to consider.

1. An appraiser's valuation is his or her opinion of what a residence is worth.

Typically, a home appraiser will use a broad assortment of housing market data as part of a home assessment. The appraiser also will look closely at a residence as part of the home evaluation process.

Although a home appraisal is based on housing market data and a home assessment, it is essential to note that a home valuation is an appraiser's opinion. Therefore, two home appraisers may examine the same housing market data and the same house and come up with two different home valuations.

2. The homes in a neighborhood may affect the valuation of a residence.

Believe it or not, a home's value may be impacted by those around it. Thus, if you intend to buy a home, it often pays to evaluate the neighborhood to better understand whether a house's value will decline, stay the same or increase over time.

Furthermore, what you spend to improve a house is unlikely to raise a house's value proportionately. And if you spend $20,000 on home improvements, there are no guarantees that these home improvements will add $20,000 to a home's valuation.

3. A home appraisal and a home inspection are two very different things.

A home inspection often is considered a must-have during the homebuying process, and perhaps it is easy to understand why.

During a home inspection, a property expert will ensure there are no structural issues with a home and identify any problem areas. Then, a homebuyer can move forward with a home purchase, rescind a home offer or submit a counter proposal based on a home inspection report.

On the other hand, a home appraisal enables a property expert to evaluate the house in its current state. A home appraiser will compare and contrast a home in relation to others in the area and offer a valuation.

If you need help determining whether to conduct a home appraisal, a real estate agent is happy to assist you. With a real estate agent at your side, you can determine whether to set up a home appraisal prior to finalizing a home purchase.




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