Buying a Home Archives - Sandra Meranda

April 22, 2019 by changescapeweb

Top Tips First-Time Homebuyers Need to Successfully Invest in a Fixer-Upper

Buying a home for the first time is one of the biggest financial decisions you will ever make. And while this isn’t a decision to be made lightly, it’s hard to not let emotions get involved too. Many first-time home buyers choose to buy a fixer-upper, whether as a way to afford their dream home or to turn a profit. Either way, if you’re considering a fixer-upper, you need to know what to expect and how to keep the emotional and practical considerations in balance.

Finding and Buying Your Fixer-Upper

When you start searching for fixer-upper properties in your area, you need to determine what the true cost will be. Of course, the cost of buying a home is only one of several factors to consider. The cost of repairs needs to be included in your overall budget too. Money Crashers recommends making a list of exactly which repairs are needed, paying close attention to anything structural. A professional home inspector can help address structural issues and uncover any hidden concerns.

When writing your list of repairs, be careful not to take on more than you can handle. Buying a fixer-upper is only a good investment when you can keep costs low, which means you should expect to do much of the work yourself. With that in mind, it’s easy to get carried away with dreams and plans, but you don’t want to get in over your head with more DIY repairs than you can manage.

Once you have found the right home that fits your budget, start exploring options to finance it. Don’t overlook loans designed for a fixer-upper purchase, which have built-in reserves for funding your renovation projects. If you’re a veteran who has served on active duty for six months or more, you’re likely eligible for a VA loan. With this type of loan, you can get reduced interest rates, and you can purchase your home without having to make a down payment (as long as you don’t buy your home for more than its appraised value).

Think About Resale Before Buying

Even before you buy, start thinking about whether you plan on staying in or selling the home once it’s all fixed up. Flipping a home for a profit can be a great investment, but going into it with that plan will likely affect some remodeling decisions. The location of your home makes a difference in resale value too. If you’re planning on remodeling your dream home and staying put for a while, this is less of a concern. But if you plan on selling the house soon afterwards, make sure you don’t overimprove for the neighborhood. If you plan on adding upscale features, you’re better off buying in a nice or up-and-coming neighborhood so you can get the price you’re hoping for.

Remodeling Right

Once you close on your new home, where do you start with repairs? Before you jump in, determine which projects you can do yourself and what you should hire out. Don’t try to take on anything that would be unsafe to do yourself, such as electrical work, but be prepared to put in some sweat equity as much as possible. Make sure you have all the right power tools for DIY repairs, including a few necessities such as the best drills, sanders, and jigsaws.

Structural repairs or any work that needs to be done on the exterior of the home should come first. These projects are essential for your safety if you’re living in the home. You should also prioritize updating old HVAC systems, and take care of any wiring or plumbing problems.

After completing essential structural repairs, be strategic about which remodeling projects you choose next. According to HGTV, kitchen and bathroom projects are always safe bets for resale, so they’re a good place to focus some time and money. Whether you plan on staying or selling, you always want to keep resale value of projects in mind. It’s always smart to keep design in line with the home’s style and avoid anything that’s too trendy.

It’s easy to get overwhelmed by the process of buying a fixer-upper, but the end result is often worth the work. The most important thing to keep in mind is that you don’t want to rush into anything. Do your homework before buying and remodeling for a smart purchase that pays off.

Photo credit: Pixabay

December 13, 2018 by changescapeweb

5 Reasons Why Timber Frame Housing Is A Great Idea

Timber frame housing has been around for a long, long time as far as in the 1800’s. There are a lot of advantages of using timber framing for your dream home. Apart from practicality, it also adds to the aesthetic value of the property.

Concrete and steel construction is what a lot of people prefer, but timber compares favorably in several areas today.

Wood construction is soothing to the eyes and mind while maintaining a pleasant temperature inside.

Timber frame homes are also electrostatically inert which means even more tangible health benefits when using wood to make a home.

Let’s go ahead and take a closer look at why you should invest in a timber frame home.

Timber Frame Housing – Superior And Aesthetically Pleasing

While earlier other construction methods were clearly superior to timber framing, advancing tech and knowledge about timber have led to it closing the gap. Timber framing has seen enough improvement to be considered commercially viable instead of just residential buildings. Top timber framing companies have also allayed fears about structural integrity with modern building techniques.

Believe it or not, the tallest timber frame building is the Tall Wood Residence in Canada which is a whopping 18 stories in height. While this is no comparison to heights using other methods, for the average homeowner, this dispels any myths about lack of structural integrity when using timber for construction. Here’s why a timber frame house should be something you should aspire to.

5 Reasons why you should opt for timber frame housing

Higher structural integrity

Contrary to popular belief, timber does have a higher structural efficiency than concrete and steel construction. Timber used in construction also has a higher load per unit weight when compared to other forms of construction. A stud made of timber used in construction has equivalent compressive strength to concrete. Moreover, there are treated varieties of timber available that further enhance the natural strength of the material.

Quality Aesthetics and Design

A timber frame house offers more flexibility to the designers than concrete without any compromise on structural integrity. Tall and strong timber pillars take the whole load of the floor, so there is no requirement for load-bearing walls. This opens the door (no pun intended!) to several design possibilities like cathedral ceilings and other unique ideas. Also, wood offers a much more pleasing living environment than concrete – a well-done timber frame house is a sight to behold and wonderful to live in.

Lower costs

Opting for timber as material for construction can save you up to 20% when compared to traditional construction methods depending on the type of building. Timber frame construction offers you the same properties and better aesthetic value for a much lower price.

Better for the environment

Because of the inherent ability of a wooden structure to better regulate temperature, you spend much less on heating/cooling costs. This is especially true when you consider timber frame homes paired with structural insulated panels or SIPs. People living in timber frame homes see marked improvements in their energy and utility bills over time. Most building materials are manufactured with significant duress to the environment, but wood is grown naturally and is a perfect zero carbon footprint product which is renewable.

Other practical reasons

There are several practical reasons to opt for timber frame housing as well. For starters, it maintains the relative humidity a lot better than concrete structures. It offers much better insulation against hot and cold weather. Timber frame homes are also acoustically sound which means that you can eliminate irksome echoes without adding much at all to the décor. It has minimal drying out period when compared to concrete which means less turnaround time. The building process is much more predictable and not affected as badly by inclement weather.

Summing it up

With improved techniques and technology in this area, timber frame homes currently offer a lot more to the homeowner than several years ago. There are several practical reasons to opt for timber home whereas earlier it was only aesthetics. If you want a dependable and aesthetic timber home customized to your liking, getting in touch with professional timber frame brands is the way to go. They have several plans to choose from and you can customize them to your liking as well.

November 15, 2017 by changescapeweb

The Dog House Rules: What Dog Owners Should Consider When Buying a Home

Photo Credit: Pixabay

Any dog owner will testify that one of the biggest charms to having a dog is knowing their excitement every time you come home. Of course, they become accustomed to your home, and when the time comes, moving can be hard on them, oftentimes disrupting the routine they have known for years or months. If you love your dog and are looking to buy a new home, you have a million things to consider, among those things is the well-being of your pet.

When the time comes to find a new place, there’s a lot to keep in mind. You’ll want to assess the layout of the home, consider your pet’s needs, and get to know your potential neighborhood before making a final decision.

On a Dog Scale of One to 10

So on a dog scale, how much does your neighborhood love dogs? There are a variety of ways to tell:

Do you see a few dog walkers around?
Do the dogs look friendly and socialized?
Are there pet stores in the vicinity?
A dog park?
Plenty of veterinary clinics and hospitals?
Does your house have a good-sized yard with protective fencing?

If you answer yes to all of these questions, your neighborhood probably scores close to a 10. This means your dog will have plenty of amenities to keep him safe and happy.

Depending on your dog’s needs also measure the following factors:

Does the house have a big enough yard for the needs of your pet?
Secure and high fencing?
Stairs?
A doggy door?

The Local Laws

Most states and localities still consider pets personal property. Because of this, the laws pertaining to pets and pet care are important to note; they can inform you best in the event that your dog gets loose or lost. Contact the local animal services or Humane Society to find out the restrictions on:

Dog registration and licensing
Vaccinations
Impounding
Leashes and dog walking

Dog Stress

The aptly named dog magazine The Bark suggests that dogs can suffer high levels of stress when their surroundings are shifting and changing around them. Don’t forget that your dog depends on you to feel safe and stable. Make sure you provide him some extra attention leading up to the move.

Before the Move

Try to keep his comfortable space in place so that he feels safe and guarded. Once you move in, don’t buy new bedding or toys. Cesar Milan warns to pack your dog’s bedding last, to help him feel a little more stable until the last possible moment. Transferring your dog’s toys and bedding to the new home will help make sure he maintains a level of familiarity.

During the Move

The actual move day can cause a tremendous amount of confusion, not just for your dog but also for you. There might be movers coming in, with the doors open, taking furniture, shifting rooms around. This can create additional stress for your dog. A great option is to remove your dog from the chaos and take him to a local kennel for boarding.

After the Move

The hard part comes when the move is over. As Life Hacker suggests, make sure your dog acclimates well so he doesn’t suffer from anxiety or stress in the new environment. The first couple of days are key:

Show your dog plenty of attention and time.
Keep your anxiety level in check too, as dogs respond to their owners.
Set up his sleeping area with his familiar bedding and toys.
Take him a dog for plenty of walks, let him follow you around the house, and shower him with play time.
If possible, avoid leaving him alone right away in the new house, maybe take a few days off work as you make him comfortable.

Buying a house is demanding enough, requiring time, effort, and patience. As a loving dog owner you want the best for your dog, and staying on top of a few details can save you lots of heartaches later. Keep your dog calm through the chaos of moving by remembering a few key things, giving them lots of love, and remaining vigilant to their behavior.

March 20, 2017 by changescapeweb

4 Things to Look for in a Home for Your Senior Years

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Your working days are over, you’ve got a comfortable nest egg, and you’re ready to sell your family home and move into a cozier abode so you can relax and enjoy your retirement. But do you know what you want out of your post-retirement home? Most seniors want to settle into a home they can stay in for the long haul, but few understand how to find a home that will remain livable as their needs evolve. Here are a few things to consider when you’re shopping for your forever home.

Single-Floor Living

If you’re shopping for a new home at 55, you’re probably not concerned about stairs or wide hallways just yet. However, it’s important to consider how your accessibility needs may change as you age. To ensure that you can maintain your independence throughout your life, look for a house or condo that integrates accessible living with good design.

One of the most important features is single-floor living. While you don’t need to restrict yourself to single-story homes, you should consider the fact that a temporary disability could leave you restricted to the main floor for an extended period. You should also look for features like stepless entrances, curbless showers, and zero-clearance thresholds. Regardless of whether you ever use a wheelchair or walker, features like these can reduce the risk of an accidental fall.

Low-Maintenance Homes

Even if you’re the rare person who enjoys yard work, there’s a good chance you won’t find it so pleasurable when you’re 80. For stress-free retirement living, skip the big backyard and instead look for housing with maintenance-free green space. This may mean a home that borders a park, a condo complex with landscaped grounds, or a rental where your landlord handles the lawn.

It’s a good idea to pare down your indoor square footage, too. Keeping up with housework becomes increasingly challenging as you age, and you don’t want to spend your retirement worrying about chores.

Access to Amenities

If you’ve lived in the same town for years, you probably have strong social and community ties that you’d like to maintain during your later life. And not without good reason — after all, social support is one of the biggest indicators of good health as you age. However, at some point you won’t be able to get around as easily, and you may even have to stop driving. When that happens, will you still be able to get to your church, library, or other community hub?

When you’re searching for a new home, consider skipping the suburbs and instead look for a home centrally located near shopping, restaurants, and public transportation. But don’t sacrifice security for convenience. Instead, find a neighborhood that balances safety with walkability so you can stay socially and physically active throughout retirement.

Retirement-Friendly Taxes

For seniors seeking a new destination to retire to, choosing a locale with retiree-friendly tax policies is a great way to free up more cash for leisure pursuits. Some states don’t tax certain sources of retirement income while others, like Florida, Washington, and South Dakota, skip the personal income taxes entirely. However, there are other taxes to consider. High property taxes can quickly eliminate what you save on income taxes, so be sure to factor in any prospective destination’s overall tax burden and cost of living.

There’s a lot to think about when you’re looking for a home that you can live in comfortably for the next 20 or 30 years, but there are realtors that specialize in helping seniors find a home that meets all their needs, both current and future. For help navigating the real estate market and finding the perfect home for your senior years, consult with a realtor who is trained as a Senior Real Estate Specialist or Certified Senior Housing Professional.

Article by Jim Vogel
jim@elderaction.org

Image via Unsplash by Scott Webb

P.S. Real estate is booming this Spring! Homes are selling fast & for the highest prices in years. It is never too early to get your home ready for the Spring/Summer market. It is a great time for buyers to call me to discuss the market also. Don’t miss
out on your dream home & interest rates are still low. Call me for details today!

December 14, 2016 by changescapeweb

Will 2017 be a buyer’s market or a seller’s market?

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Here’s what four economists had to say about whether 2017 is leaning toward buyers or sellers.

The consensus is?

Most economists we talked to said that overall, they thought 2017 was going to continue to be a strong market for sellers — for now.

“While I expect inventory levels to rise in 2017, it will likely remain a seller’s market,” said Matthew Gardner, chief economist at Windermere. “New construction will pick up steam in 2017, but not to levels that will provide sufficient support to a stretched housing market. Sellers will likely find that it will take a little longer to sell, but demand will still outstrip supply on the back of a job market that continues to tighten.”

Svenja Gudell, chief economist at Zillow, opined that “2017 is probably going to skew more toward the seller’s market — most markets will skew more toward seller’s markets, and even in the Midwest there are probably more seller’s markets than buyer’s markets compared to their own history.”

Geography does play a role, however, said Jonathan Smoke, chief economist at realtor.com.

“Ultimately, I do think it depends on where you are in the country — and not even at a market level,” Smoke said. “We’re seeing some clear patterns emerge within markets — one might be slowing down and cooling off where another part is really heating up. Real estate is so local that I would argue that a neighborhood view is really where you can see the differences and disparities and changes that are occurring around the country.”

Smoke noted that first-time buyers have been most successful in the Midwest this year, whereas markets in the West have seen the most significant price appreciation, making it difficult for first-time buyers to find success.

“We tend to have markets that are either above average in price expectation or sales expectation, and there aren’t many markets that have above-average expectations in both — supply constraint is driving the price movement in the strongest price markets, seller’s markets, but the buyer’s markets where buyers are getting a really affordable home, as a result, those markets are seeing a greater growth in sales,” Smoke explained.

“Either one is good for real estate,” he concluded.

Will we see a shift?

Gudell said that Zillow had just asked a panel of experts — more than 100 economists — “what they thought was going to happen to the tradeoff between buyers versus sellers.”

She said that among the economists surveyed, the most popular belief was that in 2018 or 2019, the bulk of markets will begin to shift from seller’s markets to buyer’s markets.

“In some markets, it’ll start to turn already in 2017, where demand isn’t quite so high and you get a little more inventory in and you have buyers better able to negotiate,” Gudell added.

What does the future buyer look like?

Mark Fleming, chief economist at First American, said that, “assuming an environment with modestly and predictably rising mortgage rates, it becomes a first-time homebuyer purchase-oriented marketplace.

“The question as a real estate agent is, how do you find and market to that first-time homebuyer?” asked Fleming. “Because that first-time homebuyer is going to be a young, technologically savvy millennial — and even more importantly, ethnically diverse. The demand for first-time housing is going to come from a different kind of individual than we’ve traditionally seen: Young, diverse, technologically savvy and much more likely to be college-educated.”

“The homeownership rate will grow, and they’ll be less white and a little younger,” said Gudell.

“Unfortunately, I think all of us will be spending more time in the car as more people have to look for more housing outside the city center as homes become much more expensive in the urban area,” she added. “During the recovery, it’s really picked up and the urban centers have appreciated much faster than the outerlying areas.”

“The potential is there for the market to have the most first-time buyers — certainly on an absolute volume basis, but also on a shared transactions perspective,” said Smoke.

“For the industry, this is the biggest shift we need to be able to contend with because it likely means elongated length of time that people are spending in that journey, especially the first-time buyer, but it potentially also means higher cancellation rates and lower conversion rates. You’re going to have more challenges with people contending with needing to qualify for and buy a home in the environment we’re in now than in the environment we were in the last two years.

“Highly qualified pent-up demand has been driving the market — now, it’s more organic activity at a time when interest rates are on the move-up,” he added. “The potential is there for an even bigger year than we’re forecasting, but it comes with challenges and that’s why we’re expecting only moderate growth instead of huge growth.”

“The thing about housing is that everybody needs it and you can’t outsource it,” said Fleming.

Article written by AMBER TAUFEN

https://www.inman.com/newsletter/brief-hedlines-tues-dec-13-2016/

P.S. Real estate is still booming this FALL! Homes are selling fast & for the highest prices in years. It is never too early to get your home ready for the Fall market or for next year. It is a great time for buyers to call me to discuss the market also.
Don’t miss out on your dream home & interest rates below 3.5%. Call me for details today!