Sunrise Homes & Renovations, Inc.

3 Ways That Buying or Selling a Luxury Home Is Different

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3 Ways That Buying or Selling a Luxury Home Is Different From a Regular OneSelling a standard home is fraught with enough concerns about marking it at the right price and staging it properly, but it’s an entirely different ball game when it comes to luxury property. If you’re planning on selling your high-end property and are trying to determine what sets it apart from the average home sale, here are some things to consider before putting it on the market.

The Price Must Be Reasonable

It’s important for the asking price on any home to show an awareness of market conditions, but when it comes to luxury, it becomes even more important. Most luxury homes are going to sit on the market for a longer period of time than a less expensive home because there are fewer potential buyers. In order to facilitate a successful sale, it’s necessary for the asking price to be competitive and in line with the amenities provided so that buyers won’t flock to other opportunities.

Use The Right Marketing Tools

With so many available methods to sell a home nowadays, it’s never been easier to get the word out that you’re selling your home. However, if the asking price is higher it’s imperative that the property is displayed in the right light. When it comes to a luxury property it’s worth having an agent who knows the market and the neighborhood well. They will be able to display your home at its most ideal by creating a website with enticing photography and details to showcase all of your home’s best attributes.

What Are The Market Conditions?

It’s difficult to time the market, but when it comes to the impact economic times can have on a luxury home sale, it’s even more important to be aware of prices. Not only will you want to be aware of the amenities your home has and how much more desirable they’ll be at certain times of the year, you’ll also want to be sure that the market is on an upswing. A market that is on the rise can make a significant difference on the offers you’ll get.

There are many factors involved in putting your home on the market, but when it comes to luxury real estate it’s important to time the market and ensure your asking price is spot on. If you’re currently preparing to put your luxury home on the market, you may want to contact one of our real estate professionals for more information.

Buying Real Estate vs. Buying Stocks: Here’s Why a Home Should Be Your Priority

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Buying Real Estate vs. Buying Stocks: Here's Why a Home Should Be Your PriorityOnce you’re done with debt and you’ve started to save, it’s commonly the case that you’ll start hearing about the risks and rewards of investing in stocks or real estate. Unfortunately, it can be difficult for many people to know what type of investment is going to work better for them down the road. If you’re currently considering what you should put your money into, here are some reasons you may want to turn to real estate.

It’s Something You Can See

While investing in the stock market will give you the ability to invest as little or as much as you want, a home will take a monthly payment and a down payment in order to make the deal. Fortunately, this means that you’ll be investing money every month into something that belongs to you and that you can see. A home is not only something you can invest in all the time, it will enable you to avoid putting money into rent that you’ll never get back.

Saving Money On Tax Breaks

There may be a certain amount of volatility with any market investment, but when it comes to buying a home you also have the benefit of tax breaks that are designed specifically for homeowners. In addition to the ability to deduct interest on your main residence if you’ve lived in your property for a minimum of two of the last five years, you’ll also be able to sell it tax-free. Investing in a home certainly takes savings, but there are many available tax benefits that can save money.

A Sense Of Security

Many people want to invest in a home because it offers up a piece of something that they can really own. However, another appealing aspect of having a home is that you’ll be removed from the day-to-day rumblings of the stock market. Investing can make people more than a little weary, even if they’re knowledgeable about the markets, and this can cause people to sell off and lose money when the going gets tough.

Investing in real estate and the stock market both involve some degree of financial risk, but you might not be aware that there are several added benefits of buying a home. From the tax break incentives to the sense of security, real estate can often be the better financial route to take. If you’re currently considering a home, contact one of our real estate professionals for more information.

Making the Grade: How to Research Local Schools Before Buying Your Next Home

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Making the Grade: How to Research Local Schools Before Buying Your Next HomeThere are so many things involved in moving into a new home in a different neighborhood that it can be easy to forget about the proximity of many nearby amenities. However, if you have children, the local schools available can make-or-break the decision on whether or not to invest in a house. If you’re wondering how you can find out more about the local school, let the following tips be your guide.

Take a Web-Search To SchoolMatch.com

One of the benefits of so many things being online these days is that local schools are no exception, and SchoolMatch.com is a great resource that puts this information at your fingertips. While you’ll have to pay a fee to get the details on many public and private institutions, this resource features ratings on schools throughout the country which can make it worth the price.

Contact The NAEYC

With a wealth of information on preschools, kindergartens and elementary schools located throughout the country, the National Association for the Education of Young Children is another helpful website to visit. While the organization offers informational pamphlets that can help you decide a school’s benefits, you can also call in if you want to speak with someone directly about a particular institution.

Make A Visit To The Neighborhood

While it can take a lot of time to visit the schools in the neighborhood you’re considering, this is a great way for you to get a sense of the area you’re moving to and what it affords. By taking a walk through the hallways to view the building’s upkeep and even visiting the office to talk with the Principal, you’ll be able to decide whether it’s a good fit.

Talk To An Agent

It might seem a bit strange to talk to a realtor about local schools, but real estate agents are responsible for providing a multitude of information to potential homebuyers so they have to be in the know. Whether they’re able to help you with a house or not, it’s certain they’ll have some of the basic details about your neighborhood’s educational offerings, whether it’s good or bad.

There are a variety of amenities that can improve the appeal of a new neighborhood, but good schools are a necessity when it comes to the kids.

Understanding Real Estate Contracts and What You Can Expect to Find

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Understanding Real Estate Contracts and What You Can Expect to FindThere are a lot of things that go into the successful sale of your home, but many people are unfamiliar with the intricacies of the contract. Whether you consult with your real estate agent or plan on diving in on your own, it’s important to be clear on the terms. If you’re wondering what you can expect when it comes to the contract, here are some pointers on what to watch out for.

Real Estate Jargon

A real estate contract would not be complete without the professional terminology, so you’ll see words like amortization, price-to-income ratio and title that may impact the meaning of your contract. Instead of going it blind, search the Internet for terms or consult with your real estate agent to provide a clear explanation.

Specifics On The Sale

Information regarding the specifics of your property will be present in the contract, and it’s important to check this information before signing on the dotted line. While the address and location of your home are important, it’s also critical to verify the purchase price that has been decided upon, the closing date on the property and any other items that have been negotiated and agreed upon.

Be Aware Of Withdrawal Terms

It can be easy to be taken away by excitement once you’ve received the perfect offer on your home, but it’s important not to lose sight of everything that’s required before the sale has been finalized. One of the most important parts of the contract is the withdrawal terms that are laid out, so be certain you’re aware of what your rights are if you or the homebuyer decides to withdraw from the process.

Watch For Seller’s Responsibilities

If you, as a seller, do not remain committed to the terms of the contract this can be a deal breaker, so ensure that you’ve familiarized yourself with exactly what’s required of you. This may include everything from the maintenance on the property to offer negotiations, so it’s important to comply with these terms.

Dealing with a real estate contract can be confusing for the layman, so it’s worth your while to have a trusted real estate agent around who will be able to explain it. From withdrawal terms to seller responsibilities, there are plenty of things you should be aware of before sealing the deal. If you’re currently embarking on selling your home, you may want to contact one of our real estate professionals for more information.

Helping a Disabled Relative or Friend Buy a New Home? Here’s What to Look For

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The search for a new home is difficult enough for the average person, but if you’re helping a friend or relative who has a disability, there are even more things to be aware of. If you’re not sure quite how to tackle the housing market, here are a few things to look out for so that you can be sure your friend is getting the home they’ll need.

Consider The Flooring

Hardwood can be a great benefit when it comes to clean up, but it’s also the type of surface that can make it a lot easier to slip and fall. While carpet can be a better option for this reason, hardwood is not necessarily a deal breaker if your friend wants to utilize the option of area rugs.

Handrails And Grab Bars

In all likelihood, there will not be available handrails and grabs bars located in many houses you view, but it’s important to ensure that these can be installed without incident. While the shower is one area that you will not be able to avoid this, it can be quite expensive to replace so this may serve as a deal breaker.

Look Out For Levers

It may sound like a strange detail, but doors knobs can be inaccessible for many people so it’s important to check out the handles throughout the house. Lever handles are a relatively easy install, but the costs can stack up in a home with a lot of doors, so it may be best to choose a home that already contains the levered option.

With A Wheelchair

While there are many things that can assist the disabled in a home, there are a lot more things required if your friend uses a wheelchair. In addition to having walk-in closets that are accessible, it’s also important that the home features wide doors and hallways, open areas and wheelchair access to all entrances, if possible. Many of these items may not be present, but the ability should exist to have them added in if they’re required.

When helping a disabled friend search for a new home, there are a variety of things you’ll need to look for, from handheld bars and grips to lever door handles that will make their life easier. If you know someone who’s currently in the market for a home, contact your trusted real estate professional for more information.

Making the Grade: How to Research Local Schools Before Buying Your Next Home

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Making the Grade: How to Research Local Schools Before Buying Your Next HomeThere are so many things involved in moving into a new home in a different neighborhood that it can be easy to forget about the proximity of many nearby amenities. However, if you have children, the local schools available can make-or-break the decision on whether or not to invest in a house. If you’re wondering how you can find out more about the local school, let the following tips be your guide.

Take a Web-Search To SchoolMatch.com

One of the benefits of so many things being online these days is that local schools are no exception, and SchoolMatch.com is a great resource that puts this information at your fingertips. While you’ll have to pay a fee to get the details on many public and private institutions, this resource features ratings on schools throughout the country which can make it worth the price.

Contact The NAEYC

With a wealth of information on preschools, kindergartens and elementary schools located throughout the country, the National Association for the Education of Young Children is another helpful website to visit. While the organization offers informational pamphlets that can help you decide a school’s benefits, you can also call in if you want to speak with someone directly about a particular institution.

Make A Visit To The Neighborhood

While it can take a lot of time to visit the schools in the neighborhood you’re considering, this is a great way for you to get a sense of the area you’re moving to and what it affords. By taking a walk through the hallways to view the building’s upkeep and even visiting the office to talk with the Principal, you’ll be able to decide whether it’s a good fit.

Talk To An Agent

It might seem a bit strange to talk to a realtor about local schools, but real estate agents are responsible for providing a multitude of information to potential homebuyers so they have to be in the know. Whether they’re able to help you with a house or not, it’s certain they’ll have some of the basic details about your neighborhood’s educational offerings, whether it’s good or bad.

There are a variety of amenities that can improve the appeal of a new neighborhood, but good schools are a necessity when it comes to the kids. If you’re currently searching for schools and are interested in local neighborhoods, contact one of our real estate professionals for more information.