Date Archives: June 2019

Homeownership is known as the American Dream. Perhaps this means you are transitioning into a new phase of life with a family, and you desire to own a home. For others, it might mean no longer paying rent and gaining home equity. Homeownership is quite an achievement, but also comes with a large amount of responsibility. There are many considerations to take in, such as being financially and personally ready to tackle this new adventure. Explore these signs that you may be ready for homeownership.

You Are a Responsible Renter

Renting is a good option for those who are looking for a short term plan. However, once you have settled down you may begin to feel the downsides to renting. If you pay rent on time, along with utilities and other bills, you should have no trouble paying a mortgage every month. Making timely and consistent rent payments proves you hold financial responsibility. However, it is important to also factor in state and local taxes into the monthly budget of homeownership.

You Have Job Security

A clear sign you are prepared for homeownership is job security. It's important to make sure you are financially comfortable before signing a 30 year mortgage. If you are set in your career and don't plan on having drastic changes in the next few years, now is the perfect time to buy your first home!

You Know What Kind of Home You Desire

If you know the style of home you are looking for and have been looking in the right market, your gut is leading you in the right direction. If you are unsure of what you seek in a home, consider asking yourself these questions:

• How many bedrooms do you need?
• What do you find important to your family?
• What kind of neighborhood do you prefer?
• Are you willing to commute to work? If so, how far?

Your Credit Score is Ideal

Another sign you are ready to purchase a home is excelling in a high credit score without carrying a large amount of debt. Your credit score affects the likelihood of getting a mortgage loan, and the better your credit score the better your interest rate. It's suggested to check your credit score 12 months prior to starting the home buying process.

You Are Aware of the Home Buying Process

If you are somewhat familiar with the home buying process, you're ready to take the leap. Researching how buying a home works is suggested, ensuring you're aware of each step throughout the process. The main steps include finding a trusted lender, affording a down payment, and finding a trusted real estate agent.

Choice Properties offers you a chance to find the home of your dreams. We work with your budget and ideas in mind to support your ultimate vision. Call us if you are ready to check out the available inventory or to speak with a reputable agent who can assist you with your home buying needs.

One important quality lenders look for when applying for a mortgage is your credit score. Typically, the better your credit score the better your monthly payments and interest will be for your new home. It's important to make note that repairing bad credit does take time and patience, as there is no quick fix to increasing your score. If you're interested in starting the home process soon but have low credit, don't fret. Practice these tips on boosting your credit, overall improving your score.  

Set Up Monthly Payment Reminders

The biggest contributing factor to maintaining good credit is ensuring you make your monthly payments on time. Depending on the bank, email or text message reminders can be set up to help remind you when it is time for a payment. If not, consider setting monthly reminders on your calendar. For those who prefer to not worry, consider setting up automatic billing for each month.

Limit Credit Card Use to Decrease the Amount of Debt

Practice getting into the habit of limiting your credit card use, which overall will decrease the amount of debt you owe. Once you have stopped using your credit card, check your credit report to compile a list of your accounts to see how much you owe on each account and at what interest rate. Use this information to determine a payment plan, paying off those with the highest interest first. Remember to continue to make minimum payments on other accounts as doing both can boost your credit score.

Tips on Maintaining Good Credit

• Ensure you are paying all bills on time
• If you have pissed payments, pay off months owed and get current on monthly payments
• Contact a credit counselor if you are struggling to keep up with payments
• Keep balances low and limit card use
• Don't a number of open credit cards you don't need

Choice Properties offers you a chance to find the home of your dreams. We work with your budget and ideas in mind to support your ultimate vision. Call us if you are ready to check out the available inventory or to speak with a reputable agent who can assist you with your home buying needs.

Fixer uppers are a popular choice among the housing market. Purchasing a home to refurbish allows personal creativity to shine through and challenges you in a whole new aspect. Unlike typical residential properties, fixer uppers are usually placed at a lower cost. Although this attracts many, it's important to know what to look for when buying a fixer upper. The main three suggestions to follow when hunting for a house to renovate include hiring specialized inspectors, learning how to evaluate repairs needed, and ensuring you're choosing the right property. When working with a  Choice Properties real estate agent, we will find the ideal house you have in mind. Purchasing property is a large investment, and we believe in helping you find the perfect house.

Evaluate the Current Condition

When house hunting for a fixer upper, don't overlook small details. Take time to evaluate the current condition of the home, separating the cosmetic issues from the structural issues. This includes:

• Removing wallpaper
• Patching walls
• Replacing flooring
• Adding trims
• Swapping out lighting fixtures
• Replacing kitchen and bathroom cabinets
• Shoring up foundation
• Replacing AC and heating systems
• Roof condition
• Installing new windows

Inspections to Have for a Fixer Upper

It's extremely important to have a professional home inspector walk through any home you are interested in purchasing. The type of home inspection can vary, but it's better to pay the cost than be surprised with a larger foundation issue down the road.

• Roof certifications. Roof certifications are typically not included in a regular home inspection. If the seller has not shown proof of the condition of the roof, consider obtaining a roof certification at the seller's expense.

• Pest inspection. Although often overlooked, having a pest inspection for beetles, termites, or ants is never a bad idea. Ignoring pests can cause larger problems in the future.

• Sewer line inspection. Most fixer uppers are older properties, meaning the sewer lines have aged just as long. Have the septic tank examined to ease the mind.

Choice Properties offers you a chance to find the home of your dreams. We work with your budget and ideas in mind to support your ultimate vision. Call us if you are ready to check out the available inventory or to speak with a reputable agent who can assist you with your home buying needs.

Making the decision to purchase a vacation home comes with an endless list of benefits. Indian Lake is an ideal location for many families in Ohio, featuring yummy lake-side restaurants, watersports, boating, camping, and more! Not only is purchasing a vacation home at Indian Lake a relaxing way to escape from the city, but eliminates the hassle of planning a vacation. Having the opportunity to get away without worrying about scheduling, booking, or planning a trip is ideal for most families. There is no better feeling than packing your bags and hitting your waterfront home for the weekend! You may be wondering, is buying a vacation home a good investment? Here are the rewarding benefits your family will experience upon taking the leap.

Your Family Will Create Memories That Will Last Forever

Summer is the best time to create memories, especially with those close to you. Family members of all ages are bound to have a blast at the lake, where the activities are endless! Go for a morning hike, head to a swimming beach, take a boat on the water, or roast some marshmallows as the sun goes down. Having a place to visit with loved ones where you can spend quality time together is something to appreciate.

Vacation Homes are Less Stressful

Planning a summer vacation comes with a long checklist. Ensuring the entire family can meet on the same dates, finding a rental or condo, and scheduling in advance to secure the dates can start to increase the amount of stress. Owning a vacation home leaves the freedom up to you! All you have to worry about are packing your sunscreen and hitting the road. This makes it easy for friends and family to come and go as they please without dealing with a third party when planning.

Why Invest in a Vacation Home Now?

A vacation home sounds ideal for most, but is it worth the investment? Here are some ways owning a waterfront home can pay off:

• You can rent it out. For the dates you know you're unavailable, why not make some extra cash? Renting your vacation property could be done seasonally or year-round, entirely dependent on your preference.

• Retirement home. When buying a vacation home, it usually means it's because you love the area. What better way to enjoy the neighborhood than using the property as a retirement home in the future?

• Sell when the time is right. If you're buying a vacation home while the kids are young or family is local, it sets up a long term plan of selling in the future. Real estate markets are always booming near waterfront homes, allowing you to sell at the right time.

Whether you live in Ohio or are looking for reasons to visit Ohio, waterfront property at Indian Lake surely takes a high ranking!  

Choice Properties offers you a chance to find the home of your dreams. We work with your budget and ideas in mind to support your ultimate vision. Call us if you are ready to check out the available inventory or to speak with a reputable agent who can assist you with your home buying needs.