Sunrise Homes & Renovations, Inc.

Common Mistakes The Experienced Homebuyers Tend To Make

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Common Mistakes The Experienced Homebuyers Tend To MakeWhen people are looking at buying a home, there are a few common mistakes that first-time homebuyers make; however, there are mistakes that seasoned homebuyers make as well. What are the most common mistakes that people make when they are looking for a new home for the second or third time? There are a few key examples to keep in mind. 

Trying To Rush Through The Process

The first mistake that experience homebuyers make is that they try to rush through the process. They feel like they understand exactly how it is going to work because they bought a home the first time. Therefore, they end up rushing, making a few key mistakes in the process. Remember that this is an important financial decision and it is important to take the time to get it right. Nobody should try to rush through this process when they are looking for a new home. 

Not Thinking About Traffic Patterns

Lots of people try to figure out exactly how far they are going to be from school or work when they are looking for a home. On the other hand, people also need to think about traffic patterns. Just because a home is within a few miles of school or work doesn’t necessarily mean that the commute is going to be easy. Think about the traffic patterns before making a decision. 

Not Thinking About The Future Of The Neighborhood

Lots of people who are buying a home for the second or third time are planning on being in that home for decades. Therefore, it is important to think about the future of the neighborhood. What is going to happen in the local area? How is that going to impact property values? These are important questions that should be answered before signing on the dotted line. 

Think About These Mistakes Ahead Of Time

When experienced home buyers are looking for a new home, it is important to think about these mistakes ahead of time. When they take the time to think about these mistakes, they ensure they avoid them down the road. That way, they make sure that they end up with the right home at the best price possible.

 

Buying Your First Home? Here’s Why You’ll Need to Ensure You Have a Proper Home Inspection

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Buying Your First Home? Here's Why You'll Need to Ensure You Have a Proper Home InspectionThere’s a whole lot to learn when buying one’s first home, an investment that can bring joy, but sometimes, grief. A competent real estate agent can assist in locating those homes that meet the home buyer’s needs and can advise on factors such as market value of the home and neighborhood services. The agent will help the buyer through the negotiation and purchase process. But the buyer should take responsibility to make sure that the steps below are taken.

Home Inspection Contingency Included in Purchase Offer

At the point where the buyer finds a home and decides to make an offer, the contract should be written contingent on an acceptable inspection. If serious issues are found, the buyer has the options of requesting certain items to be fixed, to be compensated for the costs of repair, for a lower purchase price or to cancel the contract. Without this contingency, the buyer is bound to the contract without these options and may suffer huge costs.

Selecting the Home Inspector

Reputable and successful home inspectors may be recommended by the real estate agent or friends. The buyer should talk with prospective inspectors and ask for references. Another indication of competency is an affiliation with professional groups such as the American Society of Home Inspectors (ASHI) or the National Association of Home Inspectors (NAHI).

Inspecting the Home

There are potentially many problems in homes that are not visible to the eye. The home buyer that engages a professional home inspector can be assured that major problems will be identified. As an added value, by accompanying the home inspector and asking questions, the first-time buyer can learn about proper maintenance and of possible problems that will not go into the report.

What Will the Home Inspector Do?

The home inspector examines the entire home, both outside and inside, and checks for safety, defects, replacement or repair needs, and potential problems that should be monitored closely. The inspector will then produce a report covering the findings. The inspection generally takes two to three hours and costs between $200 and $500.

What Will Be Inspected?

External inspections will cover the roof, exterior walls, foundation, grading, garage, and may include sprinklers, lawn, porch lights, walkways and driveways as well. Interior inspections will examine the plumbing and electrical systems, HVAC (heating, ventilation and air conditioning), the water heater, kitchen appliances, laundry room, fire safety and bathrooms.

Taking this optional step of completing a home inspection, even with a new home, will be well worth the time and additional cost. It will provide a basis on which to make a more realistic offer and give the buyer the peace of mind of having in-depth knowledge about the house being purchased.

Have You Outgrown Your Current Home? Here Are Five Easy Ways to Tell if It’s Time to Upgrade

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Have You Outgrown Your Current Home? Here Are Five Easy Ways to Tell if It's Time to Upgrade Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing those larger homes. Is it time to pull up stakes and move on from your starter home?

Growing Family

If you’ve added to your family in recent years, you may have more bodies than bedrooms. A two-bedroom home may have been a great idea when it was just you and your spouse, but with two kids, you’re starting to have turf wars over the play area.

Overflowing With Stuff

From an overflowing toy chest to closets packed so tightly with shoes and coats you risk an avalanche every time you open the door, your home just doesn’t have the space to keep all your things. You may have even had to move some things off-site, spending money to rent storage space to keep that antique dresser your grandmother left you or the set of state spoons you carefully collected during your college years.

No Rest For The Weary

You’d love to spend an afternoon soaking in the tub, but before the warmth of the water can take you away, there’s a banging on the door of the only bathroom in the house and a chorus of “hurry up” invading your quiet time. And the man cave you dreamed of? Those visions of a big screen television were shattered by the realization you needed somewhere for the kids to sleep.

No Room For Extras

When you first moved in, the two-car garage doubled as your woodworking shop. Now, the equipment has been sent to storage to make room for the family’s second car. You’d love to take up organic gardening, but your tiny yard barely has room for a grill and a lawn chair. You’d love to host your friends visiting from out of state, but there is hardly room for their luggage, much less them.

Changes In Career

You may have opted for a starter home when you first entered the market because you had a smaller income. Now, thanks to changes in careers or promotions at work, you can afford a home with greater square footage and room for your growing family that will provide the space you need for many years of happy memories.

Home prices across the country are starting to rise. Contact your local real estate agent today and take advantage of the opportunity to give your family the most space at the best price now.

Buying a New Home in the City? The Pros and Cons of Buying a Home on a Busy Street

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Buying a New Home in the City? The Pros and Cons of Buying a Home on a Busy Street Finding the perfect property is an exciting feeling, but its relative location can leave a lot of room for worry. Buying a home in the city is a venture that comes with an entire assortment of advantages and disadvantages. While the location might be close in proximity to businesses, services, and other people, it’s easy to worry about the other aspects of city living. What are the great and not-so-great facets of living on a busy street?

Pro: Access to Businesses and Schools

The chances are high that anyone living in a busy area is within walking distance of any store, shop, or service. Likewise, children have a range of options for education in busier areas; there are often multiple schools to choose from in any given busy area.

Pro: Access to Many Internet/TV Providers

In highly populated areas, a large number of internet and TV providers can co-exist. This means residents have a number of options when the time comes to choose providers. Luckily, it’s often difficult for providers monopolize densely populated areas.

Pro: Sense of Community

Many people that live in busy areas will be quick to share that they adore the sense of community. In fact, a large population is often one of the biggest reasons that people choose to move to bigger areas.

Con: Noise Level

As a street sees more activity, there’s no doubt that the noise level will also be a bit higher than usual. Residents that own homes on busy streets not only hear lots of noise from outside traffic, but they also often hear police sirens, animals, conversation, and more.

Con: Higher Price

It’s no secret that busy areas are a bit more expensive to live in. As anyone would expect, the convenience of city living comes with a higher price. Expect to hand over quite a bit more for a property in a highly populated area.

Con: Parking

Depending on the location of the neighborhood, parking can also be a problem. If street parking isn’t allowed, a resident in a big city might have to sacrifice their vehicle or park it a long distance from the property. This can be off-putting for many buyers.

If you’re on the fence about purchasing a property on a busy street, get more information from your trusted real estate agent before making a decision. A professional agent can provide valuable information about the property, neighborhood, chances for resale in the future, and much more. Don’t proceed any further without an agent’s advice!

First-Time Condo Buyer? What to Expect from Your New Homeowners Association

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First-Time Condo Buyer? What to Expect from Your New Homeowners AssociationEvery owner of condominium property automatically becomes a member of a homeowners association, otherwise referred to a “HOA” throughout the United States or a “Strata” in Canada. With that membership come certain rights and responsibilities. The primary right that the owner has is to vote at HOA meetings and elect board members. Responsibilities include payment of condo fees and assessments, compliance with association by-laws and rules, and maintaining a condo unit in conformity with those by-laws and rules.

Let’s take a quick look at various other terms you may hear about from your new HOA.

Declaration of Condominium and By-Laws

The declaration of condominium establishes the existence of a condominium property. It gives the precise location of the property through a legal description and describes each individual unit in the development along with the various common elements.

Individual Units

Ownership of an individual condominium unit is defined by the declaration of condominium and ordinarily consists of the interior walls and everything within the interior walls of a dwelling unit. Anything outside of that unit is usually considered to be a common element, such as the entryway, the swimming pool, the tennis courts, the parking lots and more.

Common Elements

This is property both inside and outside of buildings that the individual condo owner has an undivided interest in. It would include any common hallways, garages, parking lots, recreational facilities and open space on the property described by the declaration of condominium. If for example, there are 100 units in a condominium development, each individual unit has an undivided one percent interest in the common elements.

Running a Homeowners Association

Homeowners associations tend to operate like a small democracy. When matters are brought up at meetings to be voted on, each condo unit has one vote. Each HOA has an elected board of directors. They’ll meet once a month to decide on association business and make decisions on behalf of the HOA. The unit owners are permitted to be present at these meetings.

Owners’ Responsibilities Inside Their Units

Owners are responsible for any repairs within the walls of their dwelling unit. They might be responsible for damage to other units from leaks or flooding from a burst pipe. Depending on the by-laws, the unit owner might be responsible for maintenance or repairs of any pipes or electrical wires running behind their walls. The association is responsible for anything on the common elements.

Don’t let the purchase of your next home get derailed. If you’re thinking of getting started on condo shopping, your trusted, reputable and highly experienced real estate professional will guide you through your condominium purchase.

Looking for Luxury? How to Upsize Your Next Home Without Upsizing Your Costs

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Looking for Luxury? How to Upsize Your Next Home Without Upsizing Your Costs Size matters when you are buying a new home. Whether you plan to expand your family, need more room for your stuff, or are concerned with resale value, you want to get the most space for your money. Also, if you want to add a feel of luxury to your home, one of the best ways to do it is to create open spaces rather than cramming all your furniture in rooms so tiny you can barely walk around without knocking something over.

Traditionally speaking, the larger a home is, the more it costs. If there are two newly built houses side by side in a subdivision, the bigger one is likely to cost more. However, there are some tricks to finding spacious houses that are affordable.

Choose Emerging Neighborhoods

Houses in this year’s trending neighborhood are at their peak prices. Clever buyers look for neighborhoods that are in the process of being gentrified, buying at the bottom rather than the top of the market, to get more house for their money.

Fix It Up

Houses in perfect condition, that show well, sell for a premium. If you want to get more house for your money, choose something that needs a bit of TLC. A house that has pink walls and orange shag carpet might appear just too ugly to consider when you first view it, but it might just need a few coats of paint and some new carpet to become a spacious dream home.

Do Some Finishing

Unfinished areas such as attics and basements can be finished to create additional living spaces. The basement could become a family room and the attic an extra bedroom or study. An unfinished space can become the extra bathroom you need to make morning more manageable.

Consider an Addition

Contractors can add rooms to a house. If you have a large lot, you can build an extra wing. With a one story ranch house, it may be possible to raise the roof and add a second story.

The more stuff you have, the smaller your home appears. Reduce clutter and invest in smaller condo size furniture to give even the smallest home the appearance of spaciousness. Call an experienced real estate professional if you want to find your spacious luxury home at a bargain-basement price.