Posts with tag 'Home-buying tips'
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3
Reasons You Might Consider Home Warranty
Imagine a month after you move into your new house, the refrigerator suddenly breaks down or you wake up to no heat in the middle of winter. It can be inconvenient, stressful, and expensive to repair or replace malfunction appliances and systems. Not exactly what a new homeowner wants to go through. Purchasing a home warranty can protect you against the unexpected.
Did you know February 10 is National Home Warranty Day? Our real estate agents give a breakdown of what home warranties are, what they cover, and why you should consider investing in one.
What is a Home Warranty?
A home warranty is not the same thing as a homeowner's insurance policy, but rather a contract between a home warranty company and a homeowner that pays the cost of repair and replacement of a home's major components. Separately, homeowner's insurance covers major perils such as property crimes, fires, and water damage that could affect the homeowner's personal possessions or the entire structure. If you have a home warranty, you have a service contract to help if there's a need for costly repairs or when you have to replace a covered item in your home.
13
Mortgage Application Denied? Take These Steps Next
Buying a new home is exciting! You've checked out available South Bend homes for sale, figured out your down payment, and have a mortgage pre-approval letter from a lender. You finally found the perfect home and it's time to get a mortgage. You apply, get excited, start packing and then you hear the two most dreaded words in the home buying process: "Mortgage Denied."
It happens. If you've been rejected for a loan, it can be jarring, but you can turn it around. The key is understanding the reason(s) why you were turned down, and how to fix any problems.
11
St. Joseph, MI: 5 Condo Considerations
If you're tired of paying rent but would like to pay a bit less than a typical single-family home costs, buying a condo in Saint Joseph, MI can offer the best of both worlds for some buyers. You'll own your unit and will build equity, but outside maintenance will be taken care of. In addition, prices for condos tend to be less than those for single-family homes.
Our real estate agents suggest the following five things to look for if you're thinking about buying a condo:
- What amenities are available?
One advantage of condo living is that you may be able to enjoy amenities that many homeowners don't have. St. Joseph has some high-end condos with water views, so you may be able to have some impressive extras that might not have fit into your budget otherwise. You may also have access to other amenities such as a pool, tennis court, greenspace or fitness center. And if you like to socialize, look for a community that hosts events for its residents at the property's clubhouse.
28
Buying and Selling a Home: How to Bridge the Gap
There may be a point when you're faced with a sudden transition and have to purchase a new property even before you sell your old one. In this scenario, you might wonder if you should apply for a bridge loan to span the gap between the sale and purchase. Our real estate agents explain how bridge loans can ease the transition from one house to another.
What Are Bridge Loans?
Also known as "gap financing," bridge loans are temporary loans used in residential and commercial real estate. They provide a lifeline for buyers who are eager to buy a new home before they've sold their current one. Unless you have enough cash for the down payment, it can be hard to qualify for a loan to finance a new home while you're still saddled with mortgage payments on your current home.
With a bridge loan, you'll use the loan amount as the down payment for your new home, which makes the process go more smoothly. And like home equity loans, HELOCs, and mortgages, your current home will serve as collateral. You can then move into your new home and start focusing on selling the old one.
15
First-Time Buyers: Here Are the Tools That Will Make Your Life Easier
If you've just become a homeowner for the first time, you're probably feeling thrilled, exhilarated, and probably more than a little exhausted. If so, you're far from alone.
Our real estate agents understand the challenges of homeownership, and once you've made it through the homebuying process, it's time to start thinking about the ongoing responsibilities of owning and maintaining your home. These are the tools you'll need now that your home's maintenance is your responsibility.
- Adjustable Crescent Wrench
No need to invest in a whole set of wrenches in every size. Just get a couple of adjustable crescent wrenches, so you can match the jaws to nuts and bolts of any size. Go for a self-ratcheting wrench so you don't have to remove it from the bolt over and over again to tighten it.
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