Things You May Love About a Home Now But Hate Later

February 18, 2020 by Karen Baker Leave a Comment

Things You May Love About a Home Now But Hate Later – When we are shopping for a home we can get all dreamy and excited about finding all of the things we want on our list in a home, and maybe some extra style features we didn’t expect to fall in love with. All of a sudden we are falling hard for a home and putting in an offer anxiously hoping the seller accepts our offer because “we have to have that house.”

Sometimes, when we develop a love for something the romance can fade and home features we thought we would love aren’t really our favorites. We may even wish we had the time and/or money to renovate and make them different.

Before you begin home shopping, check out this list of things many homeowners think they want in a home and later wish they had something a bit different.

Wide Open Floor Plan

Upon reading the bullet point, this one may get some people fired up. Maybe you are asking, “what would possibly be wrong with an open floor plan, it is great for entertaining, or being able to see everything while cooking in the kitchen.”

Keep in mind the bullet says WIDE open floor plan. This would be a home where all of the main rooms are one wide open space. The reason some homeowners are looking to put in walls in their open floor plans is the lack of privacy and the noise. If you have older kids that want to invite friends over they may not enjoy the rest of the family being in the same room. If you want an open floor plan we suggest looking for a home that has other multi-purpose/multi-use rooms on other floors that allow family members to do other things or have more privacy.

On a design note: Large open spaces require larger furniture and artwork, which is more expensive.

Upstairs Laundry Room

Upstairs laundry rooms seem so amazing because they sound convenient and easy. No more lugging large piles of clothes up and downstairs from the bedrooms to the washer and dryer.

Upstairs laundry rooms generate a lot of noise throughout the rest of the house. Many upstairs laundry rooms end up getting moved down to lower floors because people do not enjoy hearing little other than the washing machine through the house when it is running.

Designer Sinks

Pedestal sinks, bowl sinks, and vessel sink all add stylish appeal to a bathroom, but when it comes to using them in your day to day routines, they are no longer so glamorous.

The height of bowl sinks can make them awkward or hard to use especially if you are washing your face or your little one needs to brush their teeth. They look glamorous in home magazines and makeover shows, but the ease of use in everyday life is more difficult. They can also take more effort to clean, especially those really fancy clear glass ones.

Pedestal sinks are pretty and add to certain design aesthetics, but they are tiny. There is no counter space for products and no storage underneath for products or cleaning supplies.

These types of sinks are not practical for primary bathrooms, they are better suited to a small guest bath. Keep this in mind when home shopping.

Hardwood Floors in the Wrong Rooms

Hardwood floors are beautiful and last a long time, as long as they are in the right room and finished with the right sealant. Kitchens and bathrooms really should not have hardwood floors in them. They will take a painstaking amount of work to keep them beautiful.

Hardwood flooring in any room of the house really should have a proper coat of protective finish applied to it. So if you are in love with a home that has hardwood floors make sure you know they have been properly cared for and are not installed in rooms where it just doesn’t make sense. A better solution for these spaces are tiles made to look like hardwood. This way there is no worry about moisture and extra wear.

Are you looking for the perfect home in Sunset Beach or the surrounding Brunswick County area? I would love to help!

More Valuable Tips for Home Buyers:

Buying New Construction? Don’t Make These Home Buyer Mistakes

Unexpected Issues You May Find When Home Buying

How to Sweeten the Deal in a Multiple Offer Situation

The Basics of the Home Buying Process

January is the New Hot Month to Start Looking at Homes

January 6, 2020 by admin Leave a Comment

We may not have snow on the ground but winter is still here. However, most people think that the best time to look for homes is in the springtime and while you might have more options, you will be paying more. In a new article by Realtor.com, January appears to be the new hot month to start looking at homes. In about 20% of the nation’s largest housing markets, January with the month in which buyers logged the most listing views. Buyers seem to be trying to get ahead of the competition before the spring rush hits.

This last November 2019, the number of properties for sale drops 9.5% compared to 2018. And first-time homebuyers trying to get a deal were out of luck as the number of homes priced below $200,000 fell 16.5% over the same.

Housing markets across the country have become more competitive due to rising prices and low inventory. So savvy buyers are choosing to search for home earlier and earlier. Now that we are out of the holiday rush, homebuyers may already start thinking about buying a home in spring and starting their search now. Last year at this time, January was the busiest month for listing views on record for homebuyers in a lot of major metropolitan areas. As everyone is so busy during the holidays, buying or selling a home just isn’t on the priority list. But now that we’re passed that, the holiday decorations have been put away, buyers want to get a jump on the home-buying season.

This also means that homebuyers should consider locking in rates while their low. December had some of the lowest rates on record for any December in the past seven years so January is just a carryover from those low rates. Locking in a rate now might get you a better deal on a home within the next month or two. Many rate locks can last anywhere from 30 to 60 days so it will give you some time to search for homes without losing a low-interest rate.

Contact Us for a Reputable Lender

We love to help you find the property you’re looking for in Brunswick County or throughout Sunset Beach North Carolina and surrounding suburbs and communities. Start your online search here or contact our office at any time to get in touch with a lender in our area that we recommend or for more details on any listing you see.

What is Home Buying Power and How can a Buyer Use It?

October 28, 2019 by Karen Baker Leave a Comment

Buyers always want to have the upper hand when it comes to purchasing a property or at least getting an offer accepted. In a buyers market, the homebuyers definitely have the upper hand. This means there are plenty of properties on the market and prices are relatively low. In a seller’s market, there are plenty of buyers and very few homes, which means sellers can up the price of their property and get more eyes on their home. But how can homebuyers harness the power in a buyers market?

There are several steps to organizing your home buying power position before actually looking at property.

#1. Organize your finances.

Before looking at homes it’s important to understand how much you can actually afford in a monthly mortgage payment. Remember, that payment should include property taxes and maybe homeowner’s insurance as well. A $1000 mortgage can easily bump up to $1500 with these added fees, taxes, and potential homeowner association fees. Understanding how much you’ll be paying each month in a monthly mortgage payment plus general upkeep, you can attack the real estate market with a little more confidence and preparedness

#2. Consider up and coming neighborhoods.

An up-and-coming neighborhood is one that may have gotten a bad reputation in the past but could be turning itself around. You might see a lot of major renovation going on throughout the community and it has close proximity to other higher-end neighborhoods. Ask local stores and restaurant owners of prices have gone up in the last couple of years and if there’s a lot of young people, artists, and musicians in the area, chances are it’s on its way up. But, you can buy now and be ahead of the game later on when property values really increase.

#3. Be patient.

Finding the right home does take some know-how, knowledge, the right real estate agent, and a whole lot of patients. It’s okay to make a lowball offer but if you don’t get the counter offer you had in mind, simply be patient and perhaps wait it out. A seller can change their mind and come back to the buyer’s agent asking for another offer. Don’t be afraid to walk away because it’s sellers know that you are extremely motivated to buy their home, they’re not going to budge on price or terms.

#4. Mind your manners.

This is a very elementary thing but agents take careful note of customers who view properties and polite and respectful behavior can go a long way. Even if you’re only dealing with a buyers agent, that buyers agent wants to work the best for you and being polite and courteous along the way can really work wonders. They may offer extra tips, work extra hard, or put in those extra late-night hours simply to get you the exact terms and price you want. A little “please” and “Thank you’s” really can work wonders.

#5. Penny wise, pound foolish.

Try not to get so focused on getting every aspect of the deal exactly the way you want it because you tend to lose the big picture. If you are nickel and dining the seller to death they may throw their hands up and reject everything. A good rule of thumb to remember in the home inspection report is if you ask for everything you’re likely to get nothing so run over the mandatory items and deal breakers with your real estate agent and pick and choose your battles so that everyone gets a win-win in the end.

MORE GOOD STUFF:

Does the Layout Mean More Than Square Footage?

Who Pays for What in a Real Estate Transaction?

How to Sweeten the Deal in a Multi-Offer Situation

We Submitted an Offer But Haven’t Heard a Thing, Now What?

How to Sweeten the Deal in a Multiple Offer Situation

August 6, 2019 by Karen Baker 1 Comment

Homebuyers can get frustrated when there are multiple offers on a highly desirable property. Even a solid, full price offer may not be enough to sweeten the deal. There’s smaller inventory than there was a few years ago and the demand is strong so buyers need to know how to create an amazing offer that will stand out above the crowd. Here are some simple ways to sweeten the deal on a multiple offer situation.

#1. It’s not always about the price.

Sellers are looking for more than just the price. You might’ve even offered over the asking price, but if other terms are not as favorable, your offer may get rejected.

#2. Minimize contingencies.

Of course, you’ll want the home inspected but if you know you’re going to buy the home regardless of what you find, you can waive the home inspection or offer shorter deadlines to accommodate the seller.

#3. Get preapproved.

Most buyers are preapproved for a home loan before even making an offer but if you haven’t done this, you will probably get rejected right away. Make sure you are preapproved for the exact amount you are offering and sent a letter of preapproval along with the offer to prove you’ve done your financial homework.

#4. Simplify the offer.

You don’t need a lot of flowery words to sweeten the deal. Sometimes, unneeded language can lengthen the offer and feels a little threatening to the seller. Spell out the terms of the deal without complicating things and make it as easy and as flexible as possible.

#5. Have your agent stay on the ball.

Sometimes just communicating with the listing agent is enough to stand out above the crowd. Think of it this way, if the listing agent has some random offer come faxing in or email without any communication, it probably will not get as much attention as the agent that’s talking to the listing agent, communicating on what the seller really wants, and trying to be flexible with dates and solidifying the offer before actually submitting it.

We want all of our buyers to get exactly what they’re looking for and that means submitting an offer that stands out and is really attractive to the seller. Our experience with buyers and listing agents can put your offer ahead of the crowd.

We Submitted an Offer and Haven’t Heard a Thing? What Now?

Is a Verbal Acceptance of an Offer Good Enough?

What to Expect at the Inspection of Your New Home

April 25, 2019 by Karen Baker Leave a Comment

You’ve done it! You’ve pulled the trigger on an offer and the seller has accepted! Now what? Once the seller accepts your offer, even after there has been some negotiation, the transaction moves on to inspection. This is where your earnest money will be deposited and you or your real estate agent can set up the inspection. You are free to choose whomever you want as your inspector but often times your buyer’s agent will have a list of references and reputable home inspectors for you to choose from. It is not mandatory for you or your agent to be present during the home inspection but it is strongly recommended that you attend. What to Expect at the Inspection of Your New Home

Home inspectors know a broad range of information about a lot of different things when it comes to the house. They usually are not experts on every detail of the home. If they recommend having an additional inspection, such as to the roof or to the septic system, it’s important to listen. Some home inspectors do know a lot about many different features of the home, especially if they have been in the business for several years. The more experienced the inspector, the more trustworthy their information and advice can be.

It is always important to accompany your home inspector throughout the property asking questions and learning about your home. Remember, this is one of the most expensive investments you’ll ever purchase and it’s important to know as much as you can about the property, protecting it, and maintaining it. Home inspectors will issue a report of all of their findings which then you can use to negotiate further requests for the seller.

A good rule of thumb is that if there is a lot of issues wrong with the house and you “ask for all of them to be repaired you may get nothing” and end up with the rejected or terminated real estate contract altogether. Discuss your findings with your real estate agent to determine the best way to approach the inspection report and request addendum. If there are hazardous or unsafe items, large problem areas or issues that should definitely be addressed before the home is even sold, these are items to certainly ask for. Simple items such as a missing light switch plate or holes in the walls from picture frames are probably not worth losing the deal over.

You have several choices on the inspection addendum:

You can accept the home inspection as is and move the transaction on to closing
You can request money off of the purchase price to cover any repairs after the closing
You can request certain repairs or replacements be completed before closing
You can simply reject the entire inspection and terminate the transaction walking away with your earnest money deposit.

The inspection doesn’t have to be a scary event but it is something that is critical to loving and appreciating your new home. The home inspection will also be paid out of pocket at the time of the inspection. Home inspections can run anywhere from $300-$800 depending on the type of inspection needed. Additional inspections from specialists can run as high as $1200 depending on what they are inspecting.

Finding out all you can about your new property can help you make wise financial decisions on repairs or major replacements in the future. If you have more questions feel free to give us a call at any time.

Thank you to Tina Saporito for her guest post this week. Tina is an expert in Palm Desert real estate in helping buyers and sellers in her area.

How Does a Buyer’s Agent Get Paid?

October 16, 2018 by admin Leave a Comment

Many homebuyers don’t realize that they pay a buyer’s agent nothing to use their services. So, it begs the question: how does a buyer’s agent get paid?

A buyer’s agent works strictly with a homebuyer helping them negotiate for their terms, find the right home for their needs and their budget and need a mediator between the buyer and seller. The buyer’s agent is a licensed real estate agent for their area and can facilitate a real estate transaction on the buyer’s behalf. It is vital for buyers to have their own representation when conducting a real estate transaction. If the buyer chose to utilize the services of the listing agent when purchasing property, their best interest may not be considered since the listing agent’s primary job is to sell that particular house for the seller. A buyer’s agent’s primary job is to work exclusively with the buyer without any hidden agenda on selling one particular property over another.

However, this brings up the interesting topic of how agents get paid. Regardless of which home the buyer chooses, the buyer’s agent will receive half of the commission that was originally agreed upon between the listing agent and the seller.

For instance: let’s say the sellers of a particular property enlist the help of a listing agent. That agent writes up the contract with a pre-negotiated set of agreements such as the commission, listing price etc. The commission can be negotiated but is typically between 6 and 7% of the sale of the property. This percentage is then split between the listing agent and whoever brings the buyer, typically the buyer’s agent. This percentage of the commission can be split equally or it can be split unequally depending on the type of negotiations. Sometimes listing agents will decrease the listing agent commission to boost more buyer’s agents to bring in a buyer or because they are also helping the seller purchase another home in which case they would receive the buyer’s agent’s commission on another deal.

But, make no mistake, a buyer’s agent’s total responsibility is first to their buyer and not to the seller. Even though the seller will pay the commission to both agents, the buyer’s agent is still working exclusively for the buyer. Regardless of which home the buyer chooses, that agent will get paid off of the sale of the home. Buyer’s agents are responsible for negotiating their own commissions so it’s not something that the buyer ever needs to worry about.

Things You May Love About a Home Now But Hate Later

Wide Open Floor Plan

Upstairs Laundry Room

Designer Sinks