Category: News and Information

When Mindy Cortez, a single mother of 3, moved in after buying a home in Orlando, FL last February, the ten-year dental assistant quickly found herself wishing she was still a renter.

Cortez says, “I miss Rick my maintenance guy”, he took care of everything for me. “Whether it was a burned-out light bulb or the washer wasn’t working, Rick would show up and fix it right away”.

So, does this mean that you should rent instead of buying? Not necessarily, it depends a lot on the person and the situation. To help you determine what makes more sense for you, ask yourself the following questions before deciding.

Should I Buy A Home In Orlando or Rent?

1- Are you looking for your home to also be an investment? If so, you might want to re-think your strategy. Most of us were brought up believing that owning a home automatically meant accumulating wealth and one day selling it for a big payday and retiring.

The truth is however, the housing market can go down just as easily as it goes up and you can never depend on real estate appreciation. However, if you get a great deal on a house, you’ll probably be OK and if the home doesn’t go up in value, chances are you can at least get the full amount of your money back out of it.

2- Have you researched the City you plan on living in? I suggest you consider the overall health of the area where you want to live. What’s the unemployment rate? What’s the crime rate? Are new businesses being built in or around the area? Does the city’s future look bright enough to want to move there? You would be wise to consider all these things before committing to a mortgage.

The City of Detroit would be a good example of a once-thriving city gone bankrupt and housing prices plummeting.

3- How long are you planning to live in the house? If you only plan on living there for years or less, then you’re probably better off renting.

4- How much is the mortgage compared to the rent? You can’t just look at the mortgage versus the rent, there are several other factors to consider when talking about homeownership. As a new homeowner, you’ll be responsible for things like insurance, property taxes, homeowners associations dues, and paying for any repairs or maintenance on a house when you own it.

You should keep in mind that big-ticket items like a central AC will be in the $4,000 + range to replace. Would you be ready to shell out 4 to 5 grand if your central AC went out?

5- How stable is your employment situation? One of the nice things about renting is that whenever you want to move, you can do so fairly easily with no repercussions. When you’re a homeowner, however, it’s a whole different ball game altogether.

Committing to a mortgage means that you’re making a promise to your lender to pay back all the money that you borrowed plus interest. If you don’t pay or if you stop making payments, not only will the lender try and foreclose on you but your credit could be ruined for the next 5 to 7 years. If you’re not sure about how stable your job is or if you even like where you work, then the safe bet would be to rent.

The decision to own a home in Orlando versus renting should be considered a lifestyle decision as well as a financial decision. Take some time to really think about the questions in this post before making that decision because once you sign those closing docs, it’s too late to change your mind. If you would like some advice from an experienced Orlando realtor about buying a house be sure to visit https://orlandorealtyconsultants.com or call 407-902-7750.

If you live in Orlando as I do, then you know that loving in the “City Beautiful” means that you’ll have no shortage of friends and relatives wanting to visit you and probably will at some point. That means getting your home in tip-top “show ready” condition.

If your property is on the market and your goal is to sell your Orlando home fast for top dollar, it means your home needs to be ready to show at a moment’s notice. You can never change the first impression and if you think otherwise, it could cost you a potential buyer.

It’s like the old saying “you can’t judge a book by its cover”, but in real estate, if people don’t like the cover [the front of your house], they won’t want to pay as much for your book or even worse…they might lose interest altogether and never even walk inside.

If you’re looking to sell your Orlando home for top dollar, here are simple, low-cost ideas you can use to maximize your home’s first impression.

1-Clean And Remove Clutter- Start by removing any furniture and other items that may cause your home to look cluttered and small into your garage or storage. This is also a great time to throw out or donate things that you don’t use or need.

The next step is to clean like you’ve never cleaned before. Be certain that every surface in the home is as clean as possible. Having your carpets shampooed by a professional is worth the investment and can make your home look cleaner and leave it smelling fresh.

2-Touch Up The Paint- Go through the entire house and touch up any scratches and chipped paint on the walls. If you have some over-powering or dark colors, you may want to consider repainting those walls with a more neutral color. Remember, this isn’t about your taste and what you like, It’s about getting your house sold.

3-Fix the Little Things- Go around your house with a caulking gun in one hand and your toolbox in the other. Fix the things that you’ve been “meaning to get around to” for the past 3 years. Some missing caulk here and a leaky faucet there can give a potential buyer the impression that the home hasn’t been regularly maintained.

By eliminating all the little things that are wrong with the house, you can eliminate any worries the buyer has about having to do the repairs himself or paying someone else to do them.

4-Update Old Fixtures- Replacing old and tarnished fixtures can go a long way in giving your kitchen and bathrooms a facelift. Fixtures are relatively cheap and will give the room an element of something new.

5-Replace The Light Bulbs- If you’re like me, you’ve probably replaced all or most of your original light bulbs in your house with energy-efficient fluorescent light bulbs. The problem is that they don’t always provide the best lighting to highlight your home’s best features. Use bright, warm lighting to make sure the home shows the way it was intended to.

6-Dealing With Pets- It’s always a good idea to remove your pets from the home when showing your property. Even if the potential buyer is an animal lover, they’re not there to see your house not visit with your animals. If it’s not possible to have them out of the house, put them in the garage or at least a crate when buyers are present.

7-Curb Appeal- Have the outside or at least the front of your home looks its best. Keep the grass mowed, trees and shrubs trimmed, and maybe even plant some colorful flowers in front. Touch up any worn-out or chipped paint on the front door and remove any clutter. The entrance should be inviting so buyers will want to continue on to the inside.

By making sure that your home looks the best that it can, you can avoid potential buyers looking to nit-pick in hopes of beating you up on the price. If you would like to know how much your Orlando home will sell for in today’s market, feel free to use our home valuation tool with absolutely no charge or obligation.

Summer’s here the smell of BBQ is in the air, pool parties are an everyday event and the Orlando housing market is hot for sellers. For the first time in years, Orlando Realtors are watching homes go under contract in almost a blink of an eye as soon as they hit the market. In certain parts of Orlando, it’s pretty common to see some homes receive multiple offers above the asking price.

For homeowners wanting to sell their Orlando home fast for top dollar, this is great news. Summertime has historically been very busy for buying and selling real estate. This is especially true for families with children as parents can switch schools during summer break and not miss a beat. 

However, some homeowners are faced with the dilemma of wanting to sell and move to a bigger house or a better neighborhood but have yet to find another house to move into. Or perhaps they’re worried that once they sell, they’ll have trouble getting the house of their dreams or losing it to another buyer.

These are all valid points. Moving can be a scary thing for most people, especially if the homeowners have lived in their current home for more than ten years. There are soo many memories and emotional attachments to a home that it can be painful for some people to let go.

Selling your Orlando home may seem problematic if you still haven’t found another home to move into, but there are ways to proceed as long as you make sure to cover your bases.

 Implementing A Seller Contingency

 Most people are familiar with a clause where homebuyers can make an offer to buy a house which is contingent upon them selling the home that they live in. Sellers can also include in a purchase contract that they will sell their home to a buyer contingent upon them finding their own home to buy within a certain amount of time. I want to sell your home but are a little worried about finding another home to buy, you should consider including a seller contingency in the purchase agreement.

Consider Renting

By moving into a rental property for while, you can relieve a lot of pressure that comes with having to buy another home before selling yours. Renting will allow you to take your time in finding the perfect home for you and your family without feeling pressured to buy something right away. 

Another benefit of renting is that you’ll have the opportunity to study the Orlando real estate market so that when the market settles a bit you’ll be ready to submit your offer and have a better chance of getting it accepted. This way you’ll be better able to avoid competing in multiple offer situations and bidding wars that we’re currently seeing in some parts of Orlando.

 If you would like to sell your home in Orlando so that you can move to another property and aren’t sure how to do it, give us a call at 407-902-7750 or visit https://orlandorealtyconsultants.com/ to speak to one of our Orlando real estate professionals so that together we can find a solution to your real estate needs. We’re here to help, it’s up to you to take the next step.