Tag: real estate

Avoiding Home Buyer’s Remorse

Posted on by Jenny Zamora

  Home Buyer’s Remorse

Have you ever bought something on the spur of the moment then later on you ask yourself.. “what was I thinking? I don’t even like or need it”. In most cases, you can usually return the items like an expensive shirt or an ugly painting as long as you have the receipt. However, if you paid cash and bought it from someone’s trunk in a parking lot, then you’re probably stuck with it.

 

 

Unfortunately, you can’t do this when you buy a home which makes the home buying process even more stressful. Purchasing a property is a big deal for any family. Not only is this is the place they will call home for years to come but is probably the biggest or one of the biggest investments of someone’s lifetime.

 

 

In today’s competitive housing market where you have bidding wars on a very limited amount of inventory, it’s easy to get caught up in the frenzy of wanting to be the one to “win” the home. Sometimes new homeowners will start to have serious regrets about the huge purchase they just made just days or maybe even hours after the closing. Oh No! What Have We Done!?

There are several things a potential home buyer can do to avoid going through buyer’s remorse…

 

Look at several properties that meet your criteria.

Even if you love the first home your realtor shows you it would be wise to visit several homes that meet or come close to meeting your criteria. Sometimes you think that you’ve found exactly what you’ve been looking for then you go see another home and you like it even better!

 

Don’t fall in love until the negotiations are done!

From my own personal experiences, I know this is a hard one to do but it must be done. Let’s say you put a fair offer on a home that you really like. Then after a few rounds of offers and counteroffers, the price has gone up another $30,000 more than what you can spend.

If you’ve already fallen in love with the house, then you are done…your mind will find a way of justifying the price increase and you’ll probably do whatever it takes to get the house even though you can’t really afford it.

Keep your best poker face throughout the negotiations. Tell your realtor what your budget is and stick to it! You’ll be glad you did.

 

Go see the home several times.

You should go and see the home several times before buying. Seeing the home only once before buying is a sure fire recipe for buyer’s remorse. Go through the home slowly and methodically, Open every door and window, walk through every room and leave no stone unturned.

 

I also suggest visiting the home at night for a another perspective. Don’t be afraid of bothering you realtor. Your real estate agent is getting paid to do their job, so make them earn it.

Make sure you have an inspection contingency.

Your best insurance is to make sure that there’s an inspection contingency in the contract. Some agents call it the “buyers remorse” contingency and it allows you to get out of the agreement if there’s a serious issue with the property you didn’t know before making your offer.

 

Hire An Experienced Buyer’s Agent

Enlisting the help of a realtor that is experienced in the area that you want to purchase in it will make your home buying experience much easier and even pleasurable. Let your agent know about any concerns or questions you have about a particular property or situation.

A good realtor will help you navigate through the entire home buying process as well as advise you of what to watch out for.

 

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Things to Consider Before Installing a Pool in your Yard

Posted on by Jenny Zamora

A pool in your backyard can make summers fun for your whole family. You can have guests over and enjoy backyard gatherings all summer long. But before you have that pool installed, there are some items to consider that may or may not change your mind.

Pool Security

If someone sneaks into your yard and gets hurt in your pool, you could be held responsible. What kinds of security measures are you installing to go along with your pool? You could install a pool alarm, or you could put a privacy fence up around your yard to keep everyone else out.

Pool Safety

When considering getting a pool, the first thing young families think about is safety. If you have children, it’s important to use a locking safety fence or a pool net. This will help keep your children away from the pool when they are unattended. Make sure older children know pool rules and not to swim without an adult present. If you live in a warmer climate where swimming is a daily activity, swim lessons for families are a great way to get the entire family ready for safe pool use.

Maintenance Costs

Pools are a lot of fun, but they are also a lot of work. You have to know how to measure the pH of your pool water so that you can add the right amount of chemicals. The chemicals, filters, and vacuuming equipment necessary to keep a pool maintained can be expensive. That does not include the special supplies you need to close the pool for the winter and then open it in the spring.

Your Home Value

An inground pool may help to raise your property value, but an above-ground pool may not. When it comes to your home’s value, you also have to wonder if the increase in your home’s value will be more than what it cost to have the pool installed. What if the pool does decrease the value of your home? Would it still be worth it to have one installed? Do your research. If you live in an area where pools are common and highly desirable, a pool will probably increase the appeal of your home. However, your home value most likely won’t increase enough to cover the total cost of the pool.

Zoning Regulations

Will your town even let you have a pool in your yard? Many municipalities have very specific zoning regulations on installing a pool. You may have to also install a fence and some other safety features, based on local regulations. In some areas, your pool has to be a certain distance from your property line, which may not leave a lot of room for the pool itself.

Energy Bill

If you choose to get a heated pool, then your energy bills are going to go way up. Even the simple matter of having a filter and pool vacuum that runs several hours a day can add costs to your energy bills.

When you bring up the idea of installing a pool in your backyard for your family, you may get a rousing cheer of approval. But you may want to really think this through before you actually put a pool in your backyard.

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Getting an Estimate: 5 Things that Will Determine the Value of Your Home

Posted on by Jenny Zamora

While some home buyers rely on love, at first sight, that kind of chemistry is hard to quantify. Luckily, there are some objective criteria most realtors – and most buyers – use when measuring the value of a home. If you aren’t sure about the value of your home, there are a few elements that will go into pricing strategies. Typically, these elements will vary on a case-by-case basis, but there are a few common characteristics that will contribute to the value of a home across the board. Below are five major elements that will help determine to price when listing a home for sale.

Location, Location, Location

Unfortunately, this is one component of pricing sellers won’t be able to easily influence. Location is based on several factors. Walk-ability, for example, is a measure of whether or not stores and restaurants are within easy walking distance. Having good schools in the area is another factor. Then there are crime statistics, the average commute to the nearest metro area, and the cost of comparable homes in the neighborhood. While you can’t change the location of your home, it’s important to be aware that the location can be a great selling point in and of itself. When pricing the home, consider the surrounding amenities that could make the property more valuable.

Square Footage

This is another characteristic that you might not have much control over, but unlike location, there are some tweaks homeowners can make in this department. One way to add to a home’s square footage, and therefore its value, is finishing the basement. Another way to increase square footage would be to build an addition—this is an expensive update, but can also add long-term value. After you examine the physical location, you can assess the value of the home based on the actual home size, number of bedrooms, and yard space.

Updates and Upgrades

Here is the element that homeowners have quite a bit of control over. If your home is outdated either in style or function, that will lower the value of the home overall. Any updates made to the home will help to justify a higher price. Kitchen and bathroom upgrades in particular tend to add the most value to a home. However, they are also the most expensive rooms in the house to renovate, so prospective sellers need to walk a fine line between having an appealing, modern home and spending more than they will recoup in upgrades. According to the home professionals of A Plus Quality, who offer air conditioning service in Toronto, modest upgrades, such as new cabinet doors, energy-efficient appliances, and updated counter-tops and fixtures, as well as a new coat of paint, will provide the biggest bang for the buck.

Curb Appeal and Landscaping

First impressions are important. Studies have shown that a well-landscaped home sells for a higher price, and that yard upgrades can easily pay for themselves. New sod, well-maintained flowerbeds, and an appealing walkway can all add to a yard’s appeal. It is also important to trim existing overgrown bushes and trees. While a well-manicured yard will add to the home’s value, you must be careful not to overdo it. If the yard is too elaborate and will require a lot of intensive work for the homeowner, that can be a deterrent to a potential buyer. Finding the right balance of a nicely groomed yard that won’t require extensive labor for the homeowner will help drive up the value of the home.

Overall Soundness

If your home is overall “sound,” it means that major, expensive fixes won’t become the buyer’s responsibility. This includes a roof and windows that won’t need replacing within a couple of years. It also includes making sure that the HVAC, the water boiler, the plumbing, and the electricity are all in good working order. Buyers don’t want a lemon, and responsible sellers will make sure their home is in good repair before putting it on the market. This is why little updates here and there over the years will really pay off if you are planning on selling. If the potential buyer can find little to no issues with the home, you’ll be able to value the home much higher than if you’re trying to pass off a home that will need a lot of TLC (and money) in the next few years.

While it may be difficult for buyers to implement all of these changes prior to selling their home, even minor fixes in these areas can yield big returns. Some paint, some sod, and some basic home repairs can be just the polish a home (and a buyer) needs. Even if you aren’t planning on selling your home for a few years, you can see the value of good maintenance. Taking good care of your home and investing in repairs will help you reap a greater reward in the end when it comes to pricing your home. Any updates you can make to your home, no matter how small, will contribute to the overall value and will be worth the investment when it comes time to sell.

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Let in a Little Light: Five Decorating Tips for Staging Your Home

Posted on by Jenny Zamora

The Orlando housing market has rebounded, and people looking to sell their homes will find far more interest than only a few years ago. However, the process of finding a buyer who will pay a reasonable price is still challenging. Here are a few decorating tips for staging your home.

1. Less is More

When people visit your home, they’ll want to envision how their furniture will look in your home. By removing as much clutter as possible and storing extra furniture elsewhere, you can allow potential buyers to see how your home can be the home of their dreams. If needed, consider renting temporary storage facilities while your home is on the market.

2. Light, Light, and More Light

Some people prefer darker homes, but buyers are clearly attracted to lighter rooms. Light makes your home seem bright and cheerful, and it leaves a positive impression on visitors. It also makes your rooms seem larger and more versatile. While artificial lights can work well, natural lighting is best.

3. Paint as an Investment

Painting a room can be expensive, but painting your rooms can help them make a positive impression on visitors. Neutral paint is generally regarded as the best choice as it won’t turn away potential buyers. If your rooms are already cleared and ready to display, painting them won’t take long.

4. Rented Furniture

The right furniture can make a room truly shine, and it can give visitors ideas for how to decorate their new homes. Fortunately, you don’t have to buy new furniture to make your room stand out. Companies will rent furniture for a small fee, and choosing the right furniture can help you leave a positive impression. If you’re holding an open house, rented furniture can spur interest and lead to bids.

5. Talk with an Expert

Some people make a career out of staging rooms, and their experience can help you find the perfect design for your rooms. While any interior decorator can help, those who specialize in staging rooms know how to impress potential buyers. They may also know painters and furniture providers who provide discounts.

When it comes to selling a home, your home’s interior will have a major impact on how much interest you can generate and how many bids you’ll likely receive. By taking staging seriously and investing a bit in your rooms, you’ll be able to sell your home at a higher price.

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Things to Check for when Viewing Different Homes

Posted on by Jenny Zamora

When viewing different homes in Orlando, it’s important to look for signs of trouble. Although you’ll want to find a home that is aesthetically pleasing, you’ll also want to ensure that it doesn’t have any problems below the surface. A house should be properly inspected from basement to rooftop before you decide that you want to make it your home.

Foundation’s Condition

Cracks in the basement can indicate foundation damage. Tilted basement walls may show signs of foundation sinking due to soft ground or poor soil composition. Termites may destroy the wooden parts of a home’s lower levels. For example, the beams of a basement’s ceiling may appear to be chewed up in the presence of termites.

Water Damage

Musty smells and water stains in a basement imply the presence of mold. This is often a result of previous flooding or some sort of leak from the surrounding soil or plumbing. Mold causes various respiratory hazards and it can spread quickly in humid conditions. Colored stains on the walls of a basement indicate the previous existence of mold that can return. Water damage can also ruin some of the electrical wirings that is often installed in the lower levels of a home. Even if the water has been properly cleaned out, this could be a sign that it could easily flood again in the future.

Climate Control System

A home with a central HVAC system needs to be checked thoroughly because it provides both heating and cooling and it’s used all year long. The outdoor A/C unit should be checked along with the indoor furnace. Unusual sounds coming from the vents and ducts in an HVAC system indicate problems with the air filters, fans, and other mechanical components. The thermostat should be tested to ensure that the HVAC system responds immediately to heat up or cool a home. If there is a problem with the system, a company in Orlando can diagnose the problem and estimate how much it will cost to repair. Knowing repair costs in advance can help you determine if you are willing to buy the home “as is.”

Rise to the Rooftop

A leaky roof is a very serious issue that needs to be inspected before buying a home. Old shingles may have significant wear and tear that causes leaks to all upper levels of a house. Inside a home, a leaky roof can be detected if bulges or pockets of water are seen in the ceilings and corner walls. Roof replacement is expensive, so it’s important to negotiate this into the cost of the home.

Pest Problems

A home inspection should also look for signs of pests. Rodents, raccoons, and squirrels can make themselves comfortable in the attic or crawl space of a home. These creatures leave droppings that carry disease. Additionally, such pests can destroy the structure of a home such as insulation and wooden studs or beams. The presence of pests also indicates major openings and cracks in the exterior of a home.

There is an array of possible problems that can exist in a home. Prospective buyers should carefully consider looking at the interior and exterior of a house that’s for sale. Don’t fall in love with a home until a throughout inspection. You want to make sure that your investment will house you and your family for years.

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