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  If you are hoping to become a homeowner, it is highly likely that you’ll need a mortgage. Before house-hunting ever begins, it is good to know just how much you can afford to borrow. All prospective homeowners must go through the process of getting pre-approved to see if they qualify for the loan and to determine how much you can afford to invest in a new home. New buyers can be understandably overwhelmed by mortgages in general, but knowing how to go about getting a mortgage before diving in is a good first step. Getting pre-approved is not as…

Buying a house is a difficult process — there are large sums of money involved, the transaction costs and hassle of moving mean that you can’t just buy another house if you don’t like the one you end up with. The best you can do is to educate yourself in all aspects of the house hunt, keep a clear head, and buy a house that best fits your criteria. There are plenty of articles full of useful tips for first-time homebuyers. I am not going to repeat them. Instead, I will list the lessons I have learned over the past…

Lots of people these days are following that motto and trying to live a life of less; less junk, less clutter, less stress and less house. So how do you downsize your world when you’ve spent your life accumulating stuff?   Planning your space before you downsize is essential; downsizing requires some careful thought! Whether you are a baby-boomer having to move your parents or a family who wants to downsize from the stress of a large home, to people wanting to plan a second home on a small scale, or even for people just wanting to have less to manage…

  If you’ve been thinking about replacing your water heater soon, you will want to read up on how the new water heater efficiency standards, effective April 16, 2015, will affect your options. The U.S. Department of Energy recently mandated sweeping changes in the energy efficiency standards of this water-heating appliance. The new standards call for much higher Energy Factor (EF) ratings on all water heaters manufactured with larger than 55 gallons in capacity. New water heater regulations mean huge changes in how larger capacity water heaters are manufactured, distributed and installed. While the new mandates will add up to long term energy…

One of the costs of owning a home that buyers need to consider in their budgeting is the cost of insuring the home. A standard policy will cover exterior and interior damage from incidents like vandalism, fire, wind and lightning. It also covers loss of use expenses, damage to structures like sheds or gazebos, and liability and medical costs if someone is injured on your property. Common exclusions are flood, hurricane and earthquake damage, but you may be able to buy additional coverage for these if desired or required. Policies vary widely, but in general, homeowners insurance covers the following areas: Your…

Moving into a new house is exciting, but the list of “to dos” can be overwhelming. You not only have to pack and prep the new house, but you have to tie up all the loose ends at the old place. Here are 10 tasks that are easily overlooked when moving into a new home – if you take care of these, you’ll have a leg up on moving day. 1. CHANGE THE EXTERIOR LOCKS: You really don’t know who else has keys to your home, so change…

ANY open permits and or code violations need to be fully addressed and resolved by the potential home buyer, prior to closing.  Failing to do so can be very costly for a homeowner. Open permits remain with the property, despite any change in ownership.  Failure to uncover any open permits prior to closing means that these permits become the responsibility of the new owner.  Requirements to remedy an open permit can include fines, fees, and completion of pending work and removal of work that does not meet building requirements.  Open permits…

Buying a home is probably the most important purchase you will ever make…  these ten tips will help you better understand what you can expect from contract to closing.  1. Determine Your Needs The process of purchasing a home can be especially daunting if you don’t take the time to determine your needs. A real estate professional will be able to best assist you if you are willing to answer a few important questions: What is your current lifestyle and how will that play into the neighborhood or community you choose?…

There is often a misconception of what a final walk through is and why it’s important.  A final walk through can sometimes be referred to as a pre-closing “inspection.”  Although you are probably excited and anxious to close on your new home, the final walk through is important and many things should checked and inspected and not overlooked. The final walk through is NOT a home inspection.  In most cases, a buyer has had the opportunity to perform a thorough home inspection prior to finalizing the contract for purchase.  It is a common contract contingency that you should be aware of when purchasing a…