Buying a home can be a challenging process for young people. Millennials are buying homes at a higher rate than ever, but there are some caveats. A home inspection, while routine, should be taken seriously. From ground to roof, the entire house will be evaluated for fitness to purchase. This means the inspector walks through, documents the state of things, and points out any issues. Know what to look for in an inspection and how to know if this is a make-or-break issue during the process.
Managing water starts with the exterior of a home and goes inside. One of the biggest contributors to a failed inspection is water leaking, damage, or other issues with water management. Foundations may be compromised, causing issues down the road. If water is managed well, this can help the cause. If the house is poorly managed, then water may continue to erode the foundation, seep into the home, or cause other damage. Inside the home, well and septic systems should be inspected along with filters and water heaters to make sure they've been maintained on schedule without issue.
Although the foundation is very important to a home, so is the attic. If the attic is not properly ventilated, the roof will not last to its full expectancy. Insulation in the attic is important, along with knowing how well it stays cool in summer and warm in winter. Airflow management is essential, but so it's keeping it well maintained.
Young buyers may be more eager to get into a dream home and start to work on creating that perfect property. To keep it in the best condition possible, there is a significant investment of time (and money) required. Homes built in the 1970s and earlier, in particular, were not maintained as well as necessary. Some have been given a few upgrades here and there, but not kept up well enough to escape constant upkeep. To keep dirt and debris buildup near doors and other areas, it means work. Upkeep and maintenance avoid big issues like the replacement of parts and systems down the road.
A home inspection is done to keep the potential buyer aware of any issues that may come up. It does not guarantee there are no other issues or this will fix everything. The key is to stay on top of what needs immediate attention and be willing to go the extra mile to keep things updated as needed. Put away an emergency fund and look into a home warranty as ways to save some money for when things need repairs or replacement down the road. Most of all, enjoy the process of finding the right home.
Families often look for that perfect home without realizing all homes have their issues. Choice Properties helps many families and individuals look for that perfect property. We make sure from the start until inspection and beyond you are happy with your home search and purchase. Call us to find out how we can partner with you to find the perfect home to suit your needs.
If you recently purchased a new home with the intent to sell in the future, it's important to continuously invest and add value to the home. There are a number of small, budget friendly projects that can be completed to add value to your home. Making these small investments will pay off down the road when the time to sell has come. At Choice Properties, our expert real estate agents are eager to help you with both your home buying and selling needs. Consider these cheap upgrades to increase your home's value, preparing your home for the highest profit.
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.
Generally, real estate is often a smart and rewarding investment option. It is a great way to produce an ongoing income and can be a smart investment if the property value increases over the years. However, buying an apartment complex, restaurant, or piece of land may become expensive. It's important to be sure you are financially stable to start investing in real estate, and consider the ongoing maintenance costs as well as gaps between tenants. So, should you invest in real estate? Here are some tips to see if it's the right path for you:
Most financial experts advise against taking out a loan for an investment project, which should be taken into consideration before investing in a piece of real estate. If you do take out a loan, it's suggested you're able to afford the monthly payment without relying on renters income. Keep in mind, there can be a high turnover with renters as there may be gaps in time where there are no renters on the property. This may become more of a financial burden if you are not able to afford the mortgage without renters, which could negatively impact your credit and create financial issues in the long run. Paying in cash eliminates these worries.
When purchasing real estate, whether for personal or investment reasons, it's always smart to plan out your expenses. Consider the cost of taxes, maintenance repairs, utilities, and building upkeep. When planning expenses, estimate the cost you will be asking for your rental property so that fees and other expenses are covered.
When investing in real estate that you plan on selling down the road, it's crucial to thoroughly research the property. Look into development plans or new roads that are being expected to be built to ensure it does not impact the property value. Also take time to research nearby neighborhoods for market value, if the area is up-and-coming, and other external factors.
Investing in real estate is an appealing idea to many! With the proper planning and steps taken, it can be done well and successfully. If you are interested in starting the steps to investing in property, contact a Choice Properties real estate agent today!
Choice Properties understands your needs and desires when it comes to the home search. We are here to help you define what you want, seek the best property and move forward feeling educated and able to make good decisions throughout the process. You can trust us to help you navigate it with the best real estate agents working for you. Call us to get started on your dream home search today.