Sunrise Homes & Renovations, Inc.

How Do I Know If I Am Ready To Buy A Home?

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How Do I Know If I Am Ready To Buy A Home?

As you’ll see in this video, you can find out by asking yourself some questions:

  • Do I have a steady source of income (usually a job)?
  • Have I been employed on a regular basis for the last 2-3 years?
  • Is my current income reliable?
  • Do I have a good record of paying my bills?
  • Do I have few outstanding long-term debts, like car payments?
  • Do I have money saved for a down payment?
  • Do I have the ability to pay a mortgage every month, plus additional costs?

If you can answer “yes” to these questions, you are probably ready to buy your own home.

 

It’s Not Just a Mortgage: Understanding the Financial Implications of Buying a New Home

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It's Not Just a Mortgage: Understanding the Financial Implications of Buying a New HomeWhen it comes to home ownership, the biggest buzzword of them all is mortgage and it’s often all people think about when it comes to price. While the ‘m’ word will be a large part of the expense that goes into owning a house, it’s important to be aware of all of the other costs that are aligned with having a home. From taxes to utilities, here are some of the other items that you won’t be able to do without once you’ve made the big purchase.

The Perils of Property Tax

Outside of the mortgage, one of the other more marked expenses you’ll be paying when you delve into home ownership is property tax, which will be determined by the place you live in. While this amount can be quite pricy or more modest, you’ll be able to determine how it will impact your bottom line by dividing it into twelve monthly costs per year.

All the Utilities that Matter

In a small apartment where many utilities are often included, power and heat might seem like a minor cost, but a bigger space means a bigger cost when it comes to the basic necessities of home life. From heating your home during a cold winter to using the stove, this can be a significant cost if you have a sizeable living space.

The Necessity of Insurance

Insurance may seem like something you can forgo if you’re in an apartment building, but when you’ve already invested considerably in the purchase of a house, it’s very important to protect your assets. With insurance, you can often customize a package that will best serve the interests of your home in case something goes wrong.

Don’t Forget About Maintenance!

One of the great things about having a landlord is that you don’t have to worry about small fix-ups like your cabinet falling off or your kitchen sink springing a leak. Unfortunately, when purchasing a home you become your own landlord and this means that the responsibility for all the issues that arise is in your hands, so you‘ll have to pay out of your own pocket.

There are a lot of costs that go along with purchasing a home, but by being prepared and knowing what they are you can make a more informed decision. If you’d like to know more about other costs associated with home ownership, you should consider contacting your local real estate expert for more information.

Goodbye, Junk! 5 Tips for Reducing the Amount of ‘Stuff’ You Need to Move to Your New Home

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Goodbye, Junk! 5 Tips for Reducing the Amount of 'Stuff' You Need to Move to Your New HomeSwitching houses? Then now is the perfect time to finally go through all the clutter and make some tough decisions about what needs to move and what needs to go away.

There is no point in waiting until after a move to go through the junk lying around, as tempting as it may be, so here are five ways to decide what should find a new home before a move.

Start With A Trip To The Dump

Before starting the move, grab some garbage bags and do a sweep of the house, making sure to toss out anything that needs to go to the dump. This will clear up the home of anything unnecessary and makes it easier to throw out some items when there’s no decision making pressure.

Decide What Furniture Will Be Replaced In Advance

A new home often means new furniture. By deciding in advance which items will be purchased new, homeowners can prepare to either sell or give away their older furniture before they move. Saving space and cutting down one extra step after moving in.

Sell Or Donate What You Don’t Need

Holiday decorations are the perfect example of items that are only taken out once a year and tend to be replaced before they are ever reused. There are probably similar boxes or shelves in every home filled with items that will never be used again but are still held onto.

Now Is A Good Time To Go Through The Closet

Clothes are not looked at as seriously as other objects when clearing space because they can easily fold down or be tucked away. It’s simpler for most people to just throw all their clothes in a box or travel bag before moving, but this is the perfect time to finally go through and donate anything that doesn’t fit or is never worn.

Be Patient With Children

It is hard for kids to part with their toys, even ones they haven’t used in years. These are part of their identity and telling them what they need to throw out can impact them emotionally and make a move that much harder. Sit down with the children and have a long talk about moving and donating items to see if they are ready to go through their things.

Thinking about buying a new home? The service of a real estate professional can go a long way in finding you the home of your dreams in the budget you are looking for.

Find Something Wrong During a Home Inspection? How to Discuss Repairs or Defects with a Seller

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Find Something Wrong During a Home Inspection? How to Discuss Repairs or Defects with a SellerWhen it comes to selling a home, it is a common belief that once the offer is accepted, there is nothing else to be negotiated. However, issues and obstacles that can arise during the home inspection can be a cause for discussion with the seller. Whether you’re currently searching for houses or your offer has already been accepted and you’re preparing for the next step, here are some tips in the event that the home inspection isn’t up to par.

Be Cautious About What You Say

Without a doubt, anything that you discuss with the real estate agent regarding the property you’re looking at is going to be addressed with the seller. Instead of telling the agent everything is fine and dandy, maintain a poker face with any deficiencies in the home so you can assess them after the inspection. While a seller may think they have you on the line if all seems fine during the inspection, maintaining your peace and negotiating after the fact may end up providing a better post-inspection deal for you.

Decide What Deficiencies Are Most Important

Before negotiating any repairs or defects with the seller and how this can benefit you, ensure you prioritize what deficiencies must be fixed and what you can live without. There may be leaks and small dings in cupboards that may not be much of an issue, whereas damage in a hardwood floor that you don’t want to renovate may serve as a deal breaker. Deciding what is most important will ensure that the seller knows you’re really interested, and it will likely convince them that the fixes will make for a successful sale.

Request A Credit For Repairs

If a seller knows you’re interested in a home, you may be able to get a little bit of leeway in terms of what you can negotiate following the inspection. Instead of expecting them to deal with the hurdles of home repair, ask the seller to consider a credit so that you can ensure the repairs are completed on your own. This will not only enable you to have the repairs completed the way you would like them done, it may also make the moving process a smoother transition for all of you.

There are certain deficiencies that can show up during the home inspection, so it’s important to consider how re-negotiation can benefit both the buyer and the seller. If you’re curious about home inspections and other aspects of purchasing a home, you may want to contact your local real estate agent for more information.

Pulling the Trigger: 3 Reasons Why You’ll Want to Move Fast when Buying a Home

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Pulling the Trigger: 3 Reasons Why You'll Want to Move Fast when Buying a HomeWith all of the care and consideration that can go into deciding if a home is the right fit, it can add a wrench to the mix to realize that you may not have a lot of time to put in an offer. It’s certainly important to weigh all of the factors of buying a home before deciding to put yourself in the ring, but here is why you’ll want to come to a conclusion quickly when it comes to a home you love.

It’s An Ideal Home, For You And Many Others

If you’ve finally found a home that you can see yourself and your family in, and you’re seriously considering putting in an offer, there’s a good chance that there are many other people who might also be quite interested in it. While you’ll need to determine whether it’s the right neighborhood, size and price before putting in an offer, you’ll want to consider these decisions relatively quickly so that someone doesn’t beat you to the punch.

A Quick Decision Means You’re Serious

Most home sellers are interested in getting an offer that is quite close to their asking price, but like anyone, they can have intuitions about potential buyers and may be more comfortable with someone who is reliable. By posing an offer to the seller in short order, you will make them aware of your keenness and interest, and – at the end of the day – this may actually inspire more trust in them. If they need to sell the home quickly or are planning a move of their own soon, this can make a considerable difference.

The Prices Are Always Rising

If you’ve been perusing the market for a while, deciding to make an offer on a home you can really see yourself in may end up being a money saver. According to Zillow, the average rental price in the United States has risen by 14% since 2011 to $1400 per month, and home prices are also beginning to increase. This means that it’s becoming an even better investment to put money into property instead of rent, so that you can make up the difference in your finances in the present and the future.

It’s important to make an educated decision when deciding to purchase a home, but by deciding quickly if a home works for you and making your interest known you may have more success.

Expecting Children: How to Quickly Move into a Larger Home Before a Baby Arrives

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Expecting Children: How to Quickly Move into a Larger Home Before a Baby ArrivesStarter homes are incredibly popular for young couples who plan to have a family in the future but don’t need a large place yet.

Life moves pretty fast sometimes and many couples find themselves expecting children before they have begun to look for the next home. This shouldn’t be a problem, as moving into a larger home before the baby arrives can be a lot easier than it appears.

Always Move Before The Baby Is Born

There is a choice when upgrading a home for children: moving beforehand and settling down in advance of having kids or waiting until after having the child and dealing with a move later on.

It may be tempting to wait until the stress of a pregnancy is over to move into a larger home. After all, selling and buying houses can be a tiring process for anybody, let alone expectant parents. Just remember, no matter how difficult or stressful the move is it will be one hundred times worse after having kids.

Work With A Professional To Help Coordinate The Move

There is nothing wrong with rushing through a purchase or the sale of a home, as long as everything is done correctly. A situation like this is never the right time to assume control and responsibility for every aspect of the move.

A real estate professional, once told of the situation, will know exactly how to handle everything. From preparing a current home for sale to finding a larger house in the right price range, a professional will have experience in coordinating the process.

Prepare For The Move In Stages

The best way to go about facilitating a quick move is to go in steps. Everything in the house that is not necessary to the staging should be boxed up and moved into temporary storage before the home is shown.

This is beneficial because it removes all clutter from the house and helps to make a quick sale and also allows for many personal items to be moved into the new house without having to wait for the current home’s sale to close. Instead of one gigantic move, the process can be broken down into several smaller moves to relieve some stress.

When there is a deadline on a move, you can increase your chances of selling your current home and buying a new one by using the services of a real estate professional. When things are done fast they need to be done right and a professional with experience can facilitate the entire process while making sure nothing slips through the cracks.