Real Estate Information

• - Begin practicing a budget now if you do not already.  There are more expenses involved with homeownership than there are as a tenant and you need to be able to manage your money properly. 
   
• - Check your credit score and correct any mistakes, if any, and do what is necessary to improve the numbers if your score is not going to be attractive to lenders.
   
• - Learn about the different types of loans available to first-time home buyers. This will help you figure out how you will finance your mortgage as well as how much you need to save for a down payment. 
  
  - Once you go through the pre-approval process, you will know how much house you can afford, making house-hunting easier.  
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  - Do you love your rental? If so, let your landlord know that you are interested in purchasing the property! They may not be interested, but once they become aware that you will be moving, the thought of preparing and looking for a new renter may encourage them to agree to a sale. All you can do is ask!  
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  - Browse properties besides houses--many townhomes and condominiums are affordable and convenient and would make the perfect first home! 
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  - Purchasing a newer house can save money in the long run, because of less up-front maintenance costs and newer houses are more energy efficient. 
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  - Think about your community options--do you want to live in a managed community (HOA), a rural area, new construction in a planned community, or an older suburban neighborhood?  Each can affect how much you pay in fees, taxes, or maintenance costs. 
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  - If you have renter’s insurance, and you should, you will note that a homeowner’s policy costs more, because it covers much more than just your belongings.  Most mortgages will include homeowner’s insurance in the monthly payment. If your current agent can find a cheaper rate, go for it! 

• A home warranty covers what homeowner’s insurance does not. When one of your home’s systems or major appliances breaks down or is damaged from normal wear and tear, a home warranty will help you with the costs. 
   

• Homeowners pay a monthly fee, on average $300-$600 per year, according to Consumer Affairs. Most service calls through the company will require the homeowner to pay a set service fee to the technician when making a claim. 
   

• A home warranty can be purchased at any time, which is great for someone who is selling their home.  Sellers can spend a good amount of money prepping the house for sale, and a warranty will help considerably if something breaks down during the selling process. Warranties can be transferred to the buyer, as well! 
   

• A newer home may not necessarily need a home warranty, so stash an amount equal to a monthly warranty payment into your savings account!  You can build emergency savings and have the funds for unexpected repairs. 
   

• Research home warranties for prices and coverage available. Your Realtor® will be able to direct you to companies they are familiar with, and you can trust you are working with a reputable home warranty company. 
   

• Current homeowners who do not have a home warranty can find a company that is registered with the Service Contract Industry Council. Scroll to the “Home Service Contract Companies” for a complete contact list. 

Your agent will schedule a time meet at your new house, usually after the seller has moved out and before or on closing day. 
 

• -What should you have on hand with you?  

• - the final contract with all the specifics about the sale 

• - home inspection report 

• - any written agreements between seller and buyer 

• - a notepad and pen 

• - a camera or use your smartphone camera 

• - a nightlight to test electrical outlets 
   

•  Inside the house, everything should be in perfect working order: 

• - Turn on every light switch and check every outlet. 

• - Check the faucets in the kitchen, bathrooms, outdoor spigots, utility room, and any other room there is running water by turning on each one. Flush all toilets as well. All toilets should flush completely, and drains should flow freely. 

• - Inspect every area where agreed repairs should have been made. If there have been extensive fixes made, you may want to shell a bit extra out of your wallet to have someone with you that can be certain the job was done correctly. 

• - Inspect every appliance that is included in the sale to be sure it is running properly. 

• - Open and close all doors, windows, cabinets, and drawers. 

• - Pay careful attention to carpets and floorcoverings, every floor and wall for weakness, cracks, mold, mildew and do not forget to look for signs of pests. 

• - Turn the climate control off and on, and check heat as well as air conditioning.
   

• -Outside inspection: 

• - roof, gutters, shutters, or any other structural issues 

• - garage doors functioning properly 

• - debris or trash left by the seller 

• - lawns and landscaping should at least be trim and neat 

• - The listing photos and layout have you wanting to see it in person as soon as possible! When the photos appeal to you in some way and the layout is to your liking, it is hard not to send your agent a “Put this house at the top of my must-see list” text!  
   

• - At the showing, you feel at home when you get out of your car and walk in the door. You know when you feel welcome in a house when you go inside, much like when you visit someone’s home for the first time.  
   

• - As you go from room to room, you can see your belongings in each, and know exactly how you would arrange them.  The outside matters as well, and envisioning your kids playing in the back garden, or wanting to refurbish the flowerbeds are sure signs of the house being the right one. 
   

• - Your house-hunting day has ended, and that one property seems to be calling your name, but minor things (like having to remove wallpaper or carpet) have you questioning if that is the house for you. When you are truly smitten, being concerned about a few flaws and having to put in some work once you move in could cost you the perfect home. 
   

• - When the showing is over, and you pause on the outside of the door and have no desire to look at any other houses, it is time to talk to your agent about making an offer. 
  
  - Does the house fit your needs? All the warm fuzzies do not count unless the house has the right amount of space, is in a great community, and, most importantly, within your budget. 

• Jot down your ideas, and talk with family and/or friends, share your thoughts, and have some of them help you start a Downsize Plan.  
   

• Think practically before you finalize your decision: 

• - Do you want to stay in the general area you are currently in or do you want to move across the country? Compare your home’s value to the locations you are interested in, making certain it is financially wise to relocate there. Even a move across town to another neighborhood could cost more in the long run.
   

• - Maybe you have dreamed of traveling, and RV-living is more to your liking. If you think this is what you want, it may be a good idea to rent a travel vehicle for a long trip before you make a costly purchase, just to get an idea of RV life. 
   

• - Are you tired of maintaining the yard and exterior of your home? Maybe a condo or townhome is right for you. 
   

• If you decide to sell and move to a smaller home, the first step of the moving process is going through your belongings. Sixty&Me.com has some extreme but practical advice to help you start this emotional task. 
   

• Do your children still have belongings stored in your attic or spare room? Have them pick a date to come over and go through them. They need to be aware that this is their last chance to have their things donated, thrown away, or keep them. Otherwise, you will be making those decisions. 
   

• With a lifetime of “stuff,” it may simply be impossible to begin the first step on your own, and this is where a pro may help. Professional organizers do not only clean up closets, there are those who specialize in home clean-outs and downsizing.  
   

• A smaller house means less space for your furniture. Find out if any family members want the pieces you will not take with you or get ready to sell or donate your pieces. Some thrift stores will refurbish the items, and domestic violence or homeless shelters can always use practical pieces in good condition. 
   

• Once you finalize your decision, get in touch with a real estate agent. They will not only help you sell your home for the best price, but they can also assist with finding your new home! 

• Begin by looking at your flat spaces.  While they may be clean of dirt, if you see even one pile of “uncategorized” papers, toys, or gadgets, it is still messy.  Every place that has a pile needs a container to hold those things, and once it is full, clean it out. Do not leave things inside that can be seen over the top edge.  
   

• A much-used entryway can get chaotic, even with hangers and bins for everything. Store off-season items in a closet, or in case of outdoor toys and sports, in the garage.   
   

• Any neat home can feel busy and cluttered because of the decor.  Hanging lighter curtains instead of heavy drapery, clearing knick-knacks, and using one or two pieces of hanging art as a focal point calms the space. 
   

• Anywhere there is technology, there are cords. While rolling them up and using a bread tie may help a bit, that may not be enough. Use cord covers or sleeves in the same or similar color as your wall paint to hide the techy mess.  A hanging table cord pocket works well, too, and can be purchased online or DIY with an accordion file holder. 
   

• Do you have open shelving in your kitchen? Shelves without doors can certainly get cluttered, so if you do not care for a messy-looking kitchen, have one open shelf for a bit of style, and use doors for the rest. 
   

• Refrigerators can get cluttered since they are used for reminder boards as well as storage on the top.  Post paper items on one side, toss what is not needed, and clear the top of all but one large basket that can conceal what you need to stash there. 
   

• You can love using pillows and throw blankets, but too many strewn on your living room furniture will give an unkempt appearance.  Keep your favorites out and store the rest in an ottoman or bench with storage space for easy access. 
   

• Toys can accumulate all over the house, in toy boxes, storage containers, and baskets.  Instead of allowing them to take over, keep them organized in small storage containers or cubbies.  Better yet, store half of them elsewhere, and every few months switch them out with those in the house.  

• Pest damage and/or infestation is important to check for, as there are health and structural issues with either situation.  You could be completely unaware that critters are living in your home, so have an extermination service do a thorough inspection and take care of any extra guests you may have stowing away. 
   

• Check for leaks turning on each faucet and watching closely under the sink for drips. Inspectors do not like dripping faucets, either.  Do not forget to test each toilet for running water, and clear any clogged or slow drains. 
   

• Be on the lookout in tight dark spaces for mold or mildew, especially the attic space and on the underside of the roof. 
   

• Outside, look at your roof carefully, taking note of missing shingles or sagging areas.
   

• Call your HVAC to set up a service call to make certain everything is running properly, as any issues will be flagged by an inspector. 
   

• Make sure working bulbs are installed in every light fixture.  Inspectors need to make sure the electricity is working and blown light bulbs can throw that off. 
   

• Repair cracks in windowsills, as leaky windows do not normally get high points during an inspection. 
   

• If there are any cracks on walls, inside or outside, or in your foundation, have them checked out by a foundation expert, and if necessary, taken care of as soon as possible.   

• Before you move, think about how you want to set up and decorate your new home.  Here are a few factors you can focus on: 
   

• - If you love the layout of your current home, do the same in your new house as closely as you can.  Use the same furniture placement, arrange your focal wall close to what you are familiar with, and keep your kitchen arranged as you do now. 
   

• - Is there something you really dislike about where you are now? Switch things up in the new house for a completely different look that you love. Paint and furniture slipcovers go a long way if a total overhaul is not in the budget. 
   

• - Those who thrive on change are going to have an easier time of moving to a new place.
  
    - Many go from one decorating extreme to another: farmhouse rustic to sleek and modern or from mid-century decor to a cottage style.    
   

• If it is in your plan to do any painting or other work, have that done before moving, or get it completed as soon as possible.  The longer it takes to unpack and put your personal things in place, the longer you will feel unsettled. 
   

• Getting unpacked as quickly as you can; no one feels at home having to maneuver around boxes that are stacked up around the house. If there are storage items that need to be put away, get them in the attic. Some rooms can be set up easily, such as the kitchen and eating areas, as well as bedrooms.  
   

• Forgo the take-out food after a couple of nights.  If you simply do not have time for cooking, at least seat everyone at the table with your usual dishes and silverware.  
   

• Having younger children’s rooms arranged with all their favorites will help them settle in.  Is there a family clock that chimes the hour? Get it unpacked and chiming as soon as possible.  Whatever is an “expected thing” in your home, the sooner it is in place, the more comfortable everyone will feel.
   

• No matter the season, get your landscaping and outdoor items placed where you would like them. Personalizing with a monogrammed flag, your favorite flowers (in pots, as that is easier to care for after a recent move), and outdoor furnishings.  
   

• Get into your normal routine as best you can, and if there are new jobs or places to be, go about them as you would have in your former home.  Keeping everything, you need for the everyday running of life in the same general way and area they were in before will make for some normalcy. 

• Flat or matte paint is great for hiding flaws, and best used in low-traffic rooms, as it is not as easy to clean as glossy paint.  Use latex paint for high-traffic walls, and oil paint for wood trim.  Leave windows open when painting with oil paint because the odor is quite strong, and it takes longer to dry. 
   

• When picking colors, do not be afraid to go bold, unless you plan to sell soon, then neutrals are your best choice. 
   

• Purchase paint samples and apply each color in a 2’x2’ area on the wall you are planning to paint. Once it is dry, you will get a better feel for the color in the different lights, and whether you can live with it or not. 
   

• The ceiling cannot be forgotten in your new design!  Change the feel of the room’s height by going a shade darker (for a lower ceiling feel) or go a shade lighter or use a lighter color to give the illusion of a higher ceiling. 
   

• Use this handy paint calculator to determine how much paint you will need.  Other supplies necessary for a professional look are painter’s tape, drop cloths, putty, a putty knife, caulking, and any tools you may need for removing hardware from any doors or walls. 
   

• Clean your walls and sand if necessary, then use a vacuum to make sure all the dust is gone. 

• Covering a dark color, stains on the walls, old paneling, or new sheetrock may require a coat of primer prior to painting. Tint the primer with a little of your new wall color before applying. 
   

• Before you start on the walls, do the little stuff first:  paint in corners and close to the ceiling with a good brush, working your way down to catch drips. 
   

• Paint the walls in 3’-4’ sections in an overlapping W-pattern, applying paint until you need to reload the roller. When you are near the ceiling and corners, get as close as possible using what is left on the roller where you previously already cut in. This gives a smooth appearance to the finish. 
   

• Allow the paint to dry for 24 hours and avoid hanging anything on the walls for a few days. Hopefully, you should not have to do any cleaning until the paint has cured, usually two weeks to thirty days. 

• It is important to know, realistically, how much house you can afford, and start shooting for a 20% down payment of that amount. 
   

• Turn your $4.50-per-day cup of coffee into $90/month in the piggy bank. Add up similar purchases, decide what you can live without, and move that money (set up automatic transfers) every day from your checking to a hands-off savings account. 
   

• Put your savings egg into a nest of high-yield savings or money market account. 
   

• Sign up with your employer to deposit a portion of your pay into a down payment savings account.  Most of the time, if you do not see it, you do not miss it. 
   

• If a pay raise comes your way, save that unexpected pay:  stay on your old budget, and have the difference in old and new pay direct deposited into your down payment account. 
   

• When non-salary payments such as bonuses or even a tax refund come in, sock them away and give your savings a boost. 
   

• Did you know that family members can gift money towards your down payment? Make certain you document these gifts correctly for your lender and the IRS.  Mortgage Reports shares more information about down payment gifts. 
   

• A part-time job may provide enough each week to add to your down payment savings. Your well-being is important, however, so do not go into a second job unless you are certain it will be a benefit. 
   

• If you have investments in stocks or bonds, plan on liquidating those assets when the time comes to purchase your house.  Make sure you document these sales. 
   

• You can always borrow from your 401k or IRA, but make sure you will not have to pay penalties.  Talk with your account holder before making any withdrawals.