Posts in category 'Buying And Selling'
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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.
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.
9
5 Tips for Multi-Generational Homebuying
When you're looking to buy a home, there are plenty of things to think about. Not the least of which is whether or not you want a home that can accommodate your parents, grandparents, or even your kids years down the road if necessary. We always hope that our elders and children live long, healthy lives, but there are times where they need help from family members.
Our real estate agents understand the challenges to multi-generational homebuyers, so we've put together these five tips for buying with a multi-generational focus.
- Why Consider Multi-Generational Living?
You never really know what's waiting around the corner, but keeping a close eye on what's happening currently with both your family, as well as economic conditions, can help you buy now for later.
Multi-generational homes have been around for decades, but the market crash of 2008 made them a mainstay in the housing industry. As the housing market plummeted, more and more families were forced into single homes. Parents moved in with children, grandparents moved in with grandchildren, and children moved in with both.
All of that to say, know what you may be in for based on your family's dynamics.
12
When to Consider an Income-Earning Home Purchase
While some people buy homes as investment property to supplement their income, others are making it their sole source of income. Additionally, income-earning home purchases are taking on different forms as homebuyers are becoming more creative with exactly how they use their new digs to gain wealth.
With so many competitive South Bend homes for sale, there's no doubt that there's an income-earning home just waiting to be purchased, but when should you consider an income-earning home or investment property? Let's take a look.
- Rental Property
Rental property is probably the number-one way buyers are getting into income-earning homes. In relatively high turnover areas such as large cities and areas near colleges, rental property can be a wise long-term investment for the savvy investment property owner.
Unfortunately, many rental property investors initially forget the fact that with rental property comes a number of issues, including finding renters, upkeep, maintenance, and making sure bills are paid, all while realizing an income. If you're looking to purchase strictly for rental property, make sure you establish a business entity and speak with your CPA or financial advisor first.
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