Real Estate Information Archive

- First and foremost, make sure all your doors and windows are locked.  Most of those who are looking for easy access will find it.  They don’t care to draw attention to themselves by smashing windows and creating a lot of noise. 

- Check with your insurance agent and make sure you’re covered properly for a vacant house. 

- Talk to your RealtorⓇ about the lockbox that will be placed on your entryway.  Make certain it’s electronic, because the agent can not only get in without a key, but can keep track of who’s used the lockbox to enter, and when. 

- If you don’t already, have motion sensor floodlights installed around the perimeter of your home.  This will help deter anyone who is creeping around after dark. 

- Ask a relative, trusted neighbor or hire someone with good references to keep an eye on things, especially if you’ve moved more than a short drive away.   If you have a neighbor whose driveway is close by, ask if they would be willing to use your driveway to park in. 

- The landscaping should be maintained to keep any suspicion that you’re not there, and it should be taken care of by a reputable landscaper.  Your RealtorⓇ should be able to help you find someone for this job.   

- Secure outdoor components--your light fixtures and even the HVAC unit can be stolen, and it’s not as uncommon as you’d think. The light fixtures can be motion-detection activated, and the HVAC unit circuit box can be locked, and make it more difficult to get to with fencing or a security cage. 

- A home security system is now more affordable than ever, and you don’t have to pay a monthly service fee to a company. Do some online research and find a system that connects wirelessly and has a coordinating smartphone app.  You can keep an eye on things yourself, and if there’s anything suspicious, call your contact and ask them to check your house for you.   

- Be absolute certain your credit has been rebuilt by paying all your bills on time and in full. Check your credit score, and keep an eye on it.  Aiming for a minimum score of 580 improves your chances of qualifying for a home loan. 

- Get every penny you can into savings! 

- Consider taking a course in financial management.  Not only does this help you become more financially stable, it shows a lender that you’re serious about it. 

- If your last home went into foreclosure, there are waiting periods for applying for a mortgage: three years for FHA loans, seven years for Fannie Mae/Freddie Mac loans, two years for Veterans Affairs loans, three years for USDA loans, and other lenders have different waiting periods. 

- Buying a home after bankruptcy depends on what type of bankruptcy was filed, so there are different factors when it comes to each situation. 

- If you have experienced a short sale with your last home, depending on the lender, the waiting period to apply for a mortgage is two-seven years. 

- Some lenders may ask you to write a letter explaining the circumstances for the foreclosure or short sale, as well as what you learned during the process.   

- Extenuating circumstances that caused a foreclosure or bankruptcy, such as a major illness or job loss can make a difference in how long you must wait to apply for a mortgage, depending on the lender.  Be prepared with any paperwork that shows your loss of income or increase of debt. 

- You need to first look at the financial aspect of renting your house. 

- Landlord’s insurance premiums may cost more than your homeowner’s insurance. Talk to your insurance agent about the differences in these policies. 

- Do the math--if you have a loss after all your expenses (insurance, repairs, property taxes, etc.) are deducted from the rental payments, it’s a better idea to sell. 

- If the money that a home sale would generate will help you buy a new place, by all means, sell. 

- One factor to consider is that if your move is temporary--you know you’ll be returning in a few years, and it may be a good idea to lease while you’re away, so you won’t have to house hunt upon your return. 

- Take into consideration that in larger areas, there may be times of a vacancy.  Can you handle the old mortgage and the new?  If not, put the house on the market. 

- If there are improvements that need to be done to the home before you can sell it, and you’re not financially able to make them, then renting may be a good option.   

- Keep in mind that most tenants will not care for your house like you, and, after moving, it could be at a great cost when you have to make the repairs.   

- Things can happen, and you may get tenants that can’t pay the rent on time, or stop paying rent, and you’re stuck with the mortgage payment, as well as having to go through the eviction process.  

- Do you really want to become a landlord?  Talk to a few people who are experienced in renting and leasing property, writing down questions to ask, and get their thoughts on the process. Experience is the best teacher. 

- We can’t say it enough:  mind your credit!  Unless you have the funds to pay for a house in cash, then you need to keep an eye on your credit. Get a report from all three credit reporting agencies from the Annual Credit Report website. 

- Know what you can afford.  Make a budget and stick to it, recording everything on paper or using budgeting software.  Once you see where your money is going, it’s easier to cut some unnecessary things to put towards your down payment. 

- That said, start saving now, not only for your down payment, but any other expenses associated with a home purchase:  inspections, closing costs, and taxes are a few to expect. 

- Once you are close to having all of your down payment, start shopping for the best mortgages, and get pre-approved.  Being pre-qualified is great, but it’s not much help if you’re not approved for the loan. 

- Be ready to compromise on certain home aspects:  square footage, having to make minor repairs, or even living on a busy street.  If the price is right, the house fits your needs and wants, then put the it on your possibilities list. 

- Just because you’re approved for a certain home loan amount doesn’t mean you have to max that budget.  You need as much leeway in your finances for emergencies and unexpected costs. 

- Prepare yourself for possible let-downs:  some perfect-for-you homes are also perfect for others who are on the search for a new house.  If there are several offers on a house, you may have to walk away from it and keep hunting. 

- Don’t go through it alone!  Find a RealtorⓇ that you trust and like.  These real estate professionals are your ultimate guide through the home-buying process, and will make it so much easier for you.   

- Since it isn’t always possible to add a full “in-law” suite to your home, you may decide to give Mom and Dad the master suite, so they can have their own private bathroom. 

- Change out the door knobs to lever-type handles for easier opening for those with arthritis or other small motor skill issues. 

- Install grab-bars to the shower, bath and toilet walls, for those who need assistance in moving around in the bathroom.  This will offer some independence for the elderly person who hates to ask for assistance. 

- For the wheelchair-bound parent, or one who needs to use a walker, consider adding an accessibility ramp to your most-used entry.  Costs vary on this job, but a contractor that specializes in the construction of a ramp will take care of this job swiftly and efficiently. 

- Widening doorways is something you may need to do if you anticipate wheelchair use in your parent’s future.  Enlarging them to 36” is the general width for ease of use. 

- The type of flooring in the home can impact whether it’s a fall risk for someone who has trouble getting around.  Consider installing low-pile carpeting, but in areas of hard flooring, where carpet isn’t necessarily an option, secure low-pile area rugs with double-sided carpet tape, or no-slip rug padding. 

- Remodeling the bathroom may be an option, and a walk-in or wheelchair-accessible shower with a “curbless” entry is a safe choice.  A built-in shower seat and adjustable showerhead are added benefits. 

- Changing faucets in the kitchen and bath with a single-lever handle for ease of use, or even a faucet with a motion sensor or touch off-and-on upgrade. 

- Electrical issues to consider:  light switches that can be pressed for turning off and on, electrical outlets placed higher than the standard height, and adding more lighting. 

- Privacy may be an issue for a still-independent older person, especially if there are children in the home.  Providing a sound-proof door will cut down on noise when Mom wants to sleep in, or if Dad would like to watch the game without interruption. 

- You can add crown molding to your rooms with little carpentry know-how.  Plaster-covered foam molding is available in many styles, and anyone with a measuring tape, hand saw and some paint can install it.  This Old House has a how-to for this easy update. 

- Clean up and, if necessary, paint your front entry door.  Add a new light sconce, and get a new welcome mat. 

- Electrical outlets are usually not something you think about upgrading, but outlets with a built-in USB port are available at home centers, and are impressive to potential home buyers because of the convenience they offer.  Put them near the kitchen counter, and a few in the bedrooms for easy access. 

- Cleaning the grout in the bathrooms, or even re-grouting can make your floor and tile look shiny-new. 

- Upgrade your doors’ and cabinets’ hardware for every room if it’s outdated. 

- Paint rooms a neutral color; grey and beige--even a mix called “greige”--are trendy right now if you don’t want all-white walls. 

- Add potted flowers or plants to your front entry for a welcome sight--just don’t forget to water them! 

- Check your crawl space for any falling insulation, and replace it. 

- Change out any dated light sconces and chandeliers. 

- A new shower curtain and decorative towels can do wonders for your bathroom. 

- The right backsplash in the kitchen can really make it stand out and look like new.  There are many DIY options, and the self-stick products on the market now make this task go much faster for the novice. 

- A chair rail and wainscoting in the dining area adds a nice eye-catching architectural detail. 

Most experts advise taking down your window curtains while your home is on the market, but you want some color on the windows.  A cornice box is an easy project to try, and cover them with your (now) old curtain fabric. 

- We shower more in the Summer, so conserve by shortening your shower time by just two minutes, and save 150 gallons of water per month! 

- Keeping our landscaping green uses a great deal of water, and if you have a sprinkler system, make sure the timer is set for morning or evening, and that the showers aren’t falling on the driveway.  Pay close attention to the weather, and turn off the timer whenever a good chance of rain is predicted. 

- Keep a pitcher filled with water inside the fridge for a thirst quencher instead of running the water from the faucet and waiting for it to get cold. 

- Cut your grass on a higher setting, because the longer blades help shade the turf, and in turn, holds water better, so you’ll have to water it less. 

- For the garden, landscaping and lawn, use a drip irrigation system instead of sprinklers or hand-watering with the hose.  Water is directed to the roots, where it needs to be. 

- When the car needs cleaning, take the bucket and sponge to a car wash instead of washing it at home, and save about one hundred gallons of water!  

- Purchase and set up rain barrels under gutter spouts or areas of the house where water runs off the roof.  You can get some very sophisticated barrels with faucet attachments for gravity-watering with the hose, and covers to prevent mosquitoes from laying eggs. 

- Placing a cover on your pool not only helps keep it clean, but it can save the pool water from evaporating.  The Spruce lists several swimming pool water-saving tips. 

Instead of washing fresh vegetables from your garden under running water, fill a large bowl with water, and give them a bath.  Once they’re clean, use the leftover water for houseplants or potted plants outside. 

- Growing native plants will help cut down on water usage, as they are adapted to your local climate.  Contact your local cooperative extension agent to find out how to plant a native plant garden. 

- Place a five-gallon bucket with small holes in the bottom near plants or a tree that need a drink, and fill it with water.  The holes will allow the water to trickle out at a slow pace, and soak the soil, where the water should be, instead of the leaves.