Posts Tagged home

Choosing the Right Neighborhood for Your New Home

Buyers spend considerable time by looking at listings in the websites, searching for their dream and within-budget home. Few people spend a little time on knowing the neighborhood. If you are buying a home means, you are investing on the neighborhood. It may be for resale or for your permanent address, neighborhood is an important consideration. We will see how to choose the right neighborhood for your new home.

  • Crime and safety: Crime and safety in the neighborhood are very important. To know the crime information of that area, search in the internet using search engines like MSN, or Yahoo or Google etc. You can find some information about the crime in that particular area or community. If it is a big city, you can get clear reports. In small towns, some basic information has been maintained. If you are not getting sufficient information, just contact the police department located in or nearest to that area. They can provide good information about the area or community. Check the area by drive around and look for vandalism or graffiti those are like broken windows, strong deterrents for homes like, high fences, signs of beware of dogs, bars on accessible windows etc.
  • Transportation: Most communities are designed around town center concept. This provides to the residents can walk to entertainment, shops, restaurants and sometimes to work. Homes that located near to popular commuter routes and subway stations are more costly than the longer distance homes.
  • Check for traveling time to your office, have to go with or against the traffic, route navigation, public transportation alternative, taxi fares, transit stop distance and other your personal requirements. Ask the realtor if there is anything available for low cost with these facilities. If not available and you need them, you may need to compromise and have to take a smaller one.

  • Schools: If you are planning to have children or already have good schools in a community is already a higher priority. Even you do not have children to educate or don’t plan for children, schools in the neighborhood should be must.
  • It will add considerably to value of your home. In a nationwide survey conducted by Redfin a real estate company in 2013 reveals that Americans pay $50 more per square foot to the homes that have top ranked school in neighborhood than average ranked school.

  • Taxes and Property values: Find out the current tax rates in that area and changes in the tax rates in past five years as well is there any increase expected. Find out the present value of the houses in that area, past five and ten years average values. Check how much the property value increased. Is there any development in the past five and ten years, and check the future development plans in the future years. You can find this information at the local chamber of commerce or city hall. If there is any development in that area, traffic and taxes will be increase.

Make your own preferences about your neighborhood for your new home. Those are based on your interests like anonymity, newer development or older neighborhood, proximity to restaurants and shopping, parks and trees, walking to amenities, busier active area or quiet streets, etc.
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Buying a Home With Resale Value Based on Location

There are so many things that should be considered when buying a house. Since most home buyers expect to purchase a better and bigger home someday in the future. So resale value is an important factor in the buyer’s decision making. You use the proceeds from selling one house to buy the next home. While no one can guarantee that the house will grow in value, there are steps you can take that to maximize your potential gain.

  • Location: “Location, location, location” is almost hackneyed phrase and is a most common in real estate literature. The real estate agents may also throw at you when ask for advice. Location is extremely important to the resale value of the home. The idea to buy a home that will appeal to the largest number of potential home buyers in future. A good choice of location can maximize positive influences, and minimize the potential negative influences on the future resale value.
  • Local community, town or city: You need to choose what communities or cities you and your family members would like to live in before you can actually pick out a home. There are many factors you need to pay attention, it is not only for yourself, because you intend to eventually sell the house to someone else. Carefully choosing of your community is the first step that can help to maximize your future potential resale value.
  • Economic stability: When choosing a community for your home purchase, a city with a stable and viable economy will makes the most sense to purchase. Five years, a decade or even more from now till you want to sell your home, you can keep a reasonable expectation that the community will still in demand to live. Make sure in addition to residential neighborhoods, a healthy mixture of business and commercial districts. These will provide jobs to local residents, add an income source and the city can maintain and upgrade services and roads.
  • Local government: Check the services that provided by the local government those like library branches, books stock and the recent best selling books. Look into the local crime statistics and compare the city with the national average and other nearby and similar local communities. See the responsive and effective to community needs by the police force. Also see for the fire stations to arrive quickly when any emergency.
  • Schools: Even you do not intend to have children or not have school age children, you should pay attention to the local school system. This is because when you sell the property or house, most of the potential buyers will have these concerns.

The property taxes also effect on home buyers. Property taxes may be higher in a town than another nearby city, and where the taxes are higher cost per square foot of home is lower. Buyer get at lower price, but need to bare higher taxes. So consider also property taxes while you planning to invest with a view of resale.
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Things to Improve in Your Home before Selling

Most often, home sellers want to get rid of their home quickly and tend to ignore making improvement in the house. This is crucial to get the expected value. Prospective buyers look for various things before they make a purchase, they want the house to look such that they are impressed to purchase it. To make your house look appealing, attractive to buyers and boost it’s value, you need to follow certain tips as follows.

Make your home look attractive or curb appeal
Whenever a buyer steps into a house, the first thing he/she considers is the look and the feel of the house. If the entire house is painted with dark color theme and debris is spread all over the house, then the buyer will obviously get a bad impression and will never want to buy the house. So, to attract buyers, get your house customized with neutral colors and maintain your house neat and tidy.

De-clutter your rooms
No buyer will be interested in buying a house that is cluttered and untidy. Buyers usually look for de-cluttered, organized and clean rooms. De-cluttering helps make the rooms look spacious and tidy. So while improving your house, de-clutter all the rooms in your house, in order to get prospective buyers. Make the home look as big as possible.

Update your kitchen
Update your kitchen with latest trends and features like good counter-tops, storage shelves for storing appliances and food items, kitchen cabinets with bright colors, neat flooring, lightening facilities etc. If these things are provided in the kitchen, then definitely buyers will be attracted. Attractive kitchen helps you sell your house quickly.

Create storage facilities
Most buyers checks for storage facilities when they come to see your house. You need to have enough storage space, to satisfy the buyer. So, make sure you have enough storage facilities for storing items.

Home inspection
Before you put your house for sale, make sure that it attracts buyers and meets their expections. At times you may miss on some essentials things, that are very important for selling a home. Therefore, get your house inspected by an experienced professional, issues if any can found and fixed. These may be lightening, odors, electrical issues, plumbing, roofing leakages, etc. These issues should be solved, because buyers look for houses that are free from these issues.

Therefore, make sure to improve your house to look to the prospective worth purchasing.
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Role of a Lawyer in Home Purchasing Process in USA

Of late, home buying/purchasing has become more complex. The best buying process also involves legal jargon and complicated language. There will be some unscrupulous property sellers who take the advantage of inexperience home buyers. It is, therefore, important to hire a real estate attorney; s/he can save you from making costly mistakes throughout the complete complicated process. It is better if you consult the real estate attorney before you take any step in purchasing a home and most importantly before signing any legal document.

The first step in the process is acceptance of an offer to purchase. The brokers most often prepare an offer letter in the pre-printed standard form.

The role of the lawyer in home purchasing is as follows:

  • Provide an overview of the process.
  • Protects the buyer interest that is s/he examine all the documents before you sign them and look after your interest in the overall home buying process, negotiate the seller’s attorney.
  • Negotiate the purchase and sale agreement as it is an important legal document in property purchase. At the time of closing the document, it is required to deposit the money along with other valuable information. The real estate attorney will examine whether all the important documents are addressed in the agreement.
  • Negotiate, explain, draft, and review your contract to purchase.
  • Negotiate and communicate repair issues related by your home inspector.
  • Examine the commitment and the survey to determine that you are purchasing property contracted for without title defects you have not agreed to accept.
  • Explain all the contract contingencies, if any monitor deadlines to make sure those contingencies to meet.
  • Explain the mortgage financing options and verify and also explain the tax pro rations and also other closing figures
  • Attend the closing to ensure the compliance and to review the home documents, to verify your loan agreement and after closing, review the recorded deed and the final title insurance policy for accuracy.
  • If you hire a real-estate attorney all you have to do is make the agreed upon the escrow payment, s/he will administer the escrow account and also ensure that the fund is properly distributed among the property inspectors, sellers and also to the title examiners.

The whole process can be said in the short, that the real estate attorney looks after your interest in over all the home buying process. S/he mostly acts behind the scene, apart from the examining the legal aspects. It is also the duty of the attorney to monitor the other members progress in a home buying team that includes real estate agents, property appraisers etc. In the other words it is said that the real-estate attorney administers the overall procedure of the home purchasing so that you do not face any problem and you get the best possible deal in home buying.
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