Tag: realtor

Technology Upgrades That will Add Value to Your Home

Over the past few years, smart technology has become more accessible and affordable. Not only can smart upgrades make your home more convenient and efficient, but they’ll also make it much more attractive to potential buyers in the future. In this healthy seller’s market, smart renovations will improve the value of the property of your home. Enhancements like your thermostat, lighting, keypad door locks, fire detectors, and security camera systems.

Smart Thermostat: The advantage is its ability to learn a household’s patterns and adjust heating and cooling according to when a home is occupied or is about to be occupied. This reduces the use of heating and cooling systems when nobody is home for significant periods of time. During the Summer, you can set your thermostat to a temp while you are away so you do not waste energy. You are able to program the thermostat to come on a few minutes before you get home. Many are able to be adjusted by your smartphone while on your way home. A thermostat might seem to be a basic feature of your home, but it can have a big impact on your energy bills. Almost half of the monthly energy costs are controlled by your thermostat.

Smart Lighting: To really impress potential homeowners, a good Realtor will showcase the smart lighting by demonstrating it throughout your home. Smart lighting gives flexibility because it can be controlled by timers, as well as by setting up schedules and monitoring bulb statuses remotely. Smart lighting eliminates the switch on the wall. The network does all the work for you, automatically, though you can still program the lights to respond as you wish. They can feature sensors with the ability to identify people and when they need light, as well as how much they may need. Smart lighting will save money on utility bills. They’re very energy efficient; allows for calibration of when each light should be on. When you travel, you won’t have to physically alter the settings of each smart light or check to see if it is off before you leave. Everything can be done remotely, from afar.

Smart Keypad Door Locks: Install a smart lock to keep your house secure.  It’s as easy as using an app that you will program new access codes into the lock, even set schedules for when those codes can be used. You will be notified when it’s used, which gives you the ability to keep an eye on who is in your house and when.

Smart Fire Detectors: A smart fire detector is the one essential every home should have. Traditional alarms depend on you being around to hear them, a smart smoke alarm will alert you when something is wrong, no matter where you are. A smart smoke detector can warn you of a fire in its early stages, allowing you and your family enough time to get to safety. If there are any potential problems with smoke (or CO2) these can quickly alert you, no matter where you are in or out of the house, and even tell you what room it’s sensing trouble in.

Smart Security Camera Systems: The latest smart home security systems pair with your smartphone so you can view cameras, lock doors, arm or disarm security points, and receive instant notifications on alarm triggers wherever you are. Home security systems often lower your home insurance cost since they can reduce the likelihood of home invasion or theft. 

The Bottom Line: Be in control. Smart technology doesn’t just stop at security. Home automation functions enable you to control various aspects of your home, too—such as adjusting your thermostat and turning on or off the lights, coffee pot, or other appliances. If you ever forget to switch your bedroom light off in the morning before heading to work, for example, you can correct your mistake, from anywhere. All you need is a smartphone, iPad, or desktop computer. Upgrading to make your home smarter by adding smart features is among the five best (and easiest) ways to increase your home’s value as well as help it to sell faster than traditional homes due to the spectrum of advantages offered.

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What Home Buyers Really Want Right Now

What do new home buyers want? The answer is simple: updated kitchens and bathrooms. But that’s not all. Too many homeowners make the mistake of not adding home features buyers want the most when it comes time to sell their house. A few additions on the top of “most wanted” in a home list beyond the popular large, open kitchen:

HOME OFFICE: More than 13 million Americans work from home, according to the most current U.S. Census data, and all signs point to that trend continuing. That makes a home office important for many buyers. As you would list rooms like kitchen and living room, a greater amount of people working and schooling from home means “home office” should be included in the listing. Or, consider saying there is a room as a potential home office.

ACCESSIBLE LAUNDRY ROOM: According to a nationwide survey of recent and prospective homebuyers conducted by the National Association of Home Builders, 87% of respondents wanted a laundry room, making it the most-requested feature on their list. No more dark basements. Today’s home buyers seek a bright and large laundry room with plenty of storage, counter space for folding clothes and it’s always a plus to have a utility sink.

ENSUITE MASTER BATH:  If your master bathroom only contains a shower stall or a tub and not both, you’re going to be at a big disadvantage when it comes to selling. According to the latest annual report published by the National Association of Home Builders (NAHB), a whopping 76% of millennial buyers consider this their top must-have. When pushed to specify, potential buyers also revealed that they’d want the tub to feature whirlpool jets and that the shower should have multiple heads. 

CENTRAL AIR CONDITIONING: Nearly seven in 10 homeowners said they would be willing to pay more on central air conditioning — the same as new kitchen appliances and more than any other feature. Central air conditioning was considered “very important” by more than 60% of people in all age groups.

ENERGY EFFICIENCY: This is a top home feature that has earned high marks to home buyers. As the cost of energy continues to rise, many home buyers today are looking for homes that are going to be easier and less expensive to run long term. Consider installing LED lights or using a programmable thermostat.  These features can be attractive to home buyers because they often result in saving money on utility bills.

The Bottom Line: Low inventory and hot listing features like the ones above can equate to multiple bids. If you are connected to the best Realtor in your neighborhood, he/she will be able to tell you what people are looking for right now.

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Title Insurance Myths

MYTH: Nobody needs title insurance

Everyone needs title insurance. You may think you know the entire history of the house you’re purchasing, but it’s impossible to know everything. Title insurance protects your right to the property in the event that a previously unknown heir claims ownership of the property if it is later revealed that the “sellers” were not the rightful owners, or if liens against the property resurface. If you have an owner’s title insurance policy, you will not be responsible for paying any of the fees associated with protecting your right to the property, should these types of issues arise.

MYTH: New construction homes don’t need title insurance

Your home could be brand new, but the land on which the house is built isn’t. Chances are, the land had several previous owners before construction began. Buying property on such land opens you up to certain risks tied to ownership issues from previous owners.

Disputed wills, easements, and property liens are just a few of the issues common to land ownership. You could get caught in between the mess and end up losing your resources or, worse still, your new property as well. Title insurance is crucial even for a new home and should be among your list of priorities during the closing process.

MYTH: If no one challenges ownership, then the title policy is a waste

At the closing, when you purchase a title insurance policy, the closing company does the bulk of the work behind the scenes. The title company goes through many steps to make sure that everything is in place by that time, including conducting a comprehensive title search and identifying any potential issues. The team investigates the entire history of the property to ensure that you, the buyer, will be aware of any problems that will need to be addressed before closing. By the time the closing comes around, the title company has completed a great deal of research and legwork for you.

MYTH: Title insurance offers only minimal protection

When you purchase a home, you receive the “title” to the property. This title is your legal right to own it. Early in the home buying process, a title search is conducted to review the history of the property and uncover any issues that could limit your right to ownership. Even after the most meticulous search of public records, there can be hidden title defects, such as tax liens, forged signatures, claims by ex-spouses, and recording errors. These title defects can remain undiscovered for months or even years after you purchase the home.

MYTH: Title insurance is the same thing as homeowner’s insurance

Homeowners insurance protects you so you have the resources to pay for any damage that might occur to your property. Title insurance protects you from anyone else claiming your home is theirs or for some prior owner’s back taxes or encumbrances or any other real property dispute

Title First Agency: Dedicated to innovation and passionate about service, Title First Agency is your comprehensive, nationwide resource for title and real estate settlement services. Headquartered in Columbus, Ohio, Title First has branch offices throughout the Midwest and a robust virtual partner network throughout the country. Title First got its start in 1956 as an affiliate of a local law firm and has since emerged as one of the largest independent title agencies in the nation. Proudly servicing Realtors, lenders, builders, developers, law firms, buyers and sellers, Title First is equipped to serve your residential and commercial title and settlement needs.

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Smooth Closing

Buying a home can be chock full of complications and setbacks, or it can go remarkably smooth and fast if it is planned carefully.  The end goal needs to be addressed right from the start, and that goal is to have a smooth closing. Be sure to choose a Realtor that is experienced and one that you trust to stay focused and be the voice of reason as they facilitate the process at closing and make sure all parties have completed all unfinished business prior to coming to the “closing table”. Here are a few tips that can help you make it go as smoothly as possible.

Repairs: It’s a good idea to have a complete inspection done so that any issues can be addressed before closing. You may want more than just a code inspection, because there may be issues that don’t have to be revealed since they don’t have anything to do with building codes or laws regarding seller disclosure.

The Realtor should check on the status of all repairs that were to be made on the home the day before closing. If there was an agreement that something needed to be fixed by closing, make sure that it is. If there was an arrangement for repairs to be taken care of after closing, make sure all the necessary paperwork shows this as fact.  A final walk-through should be done with the buyers. The sellers should make sure, with their Realtor, that the property is in the condition promised and all of their personal items are removed. 

Title Insurance:  Your title company plays an essential role in closing your real estate transaction. All of the title work should be checked to ensure a clear title and that the property can be transferred without any obstructions.  Should there be any title issues that might include judgments or liens,  they must be settled prior to the hour of closing.  The moment of truth in a real estate transaction happens at the closing table. Title First Agency will work hard to ensure a seamless experience for you and your clients. From contract to closing, we handle all the details to help a transaction run smoothly and close on time. 

Financing: The lender should be contacted the day before the closing to be certain that all the documents they need have been received. Occasionally, the closing is delayed due to one document or one final verification.  The interest rate for the loan should be locked as well as the final mortgage and monthly payments.  The Realtor should make sure the buyer has all the funds available and ready to close.  Having everything in hand the day before gives both the buyer and the seller 24 hours to review everything. If there are any questions, you can have them ready and any issues addressed.

The Bottom Line: A thorough Realtor will make sure the buyers are ready for the closing. First-time buyers may not realize all the people that could possibly be at the closing table, and all the paperwork there will be that needs their signature. The buyer needs a cashier’s check or arrangements made to wire the closing funds to the escrow company.  The seller should bring all the keys, garage door openers, alarm codes, and any other controls to the settlement. The Realtor should make sure and confirm that all utilities have been disconnected by the sellers and set up ready for the buyers upon closing. 

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Red Flags in Real Estate Investing

Investing in real estate isn’t flawless. There are some pros and cons to consider before, but it’s especially important to evaluate the situation and the property you’re about to buy. Is it worth it? Let’s look at how to identify signs of a bad real estate investment.

It is normal for a Realtor to seem excited to sell you a property, it is literally their job to do so. However, if they seem overly avid or even pushy, there might be some details about the property that could make it hard to sell which is making the Realtor extra aggressive to sell it. If this happens, make sure to listen to your instincts and, if necessary, investigate as much as you need to ensure you are making a good investment. And, have the property fully inspected before agreeing to sign anything. The very best Realtors will be transparent and forthright, offering their professional guidance on the best course of action, even if it’s not what you were expecting or hoping to hear.

One of the most important factors that determine if a property is worth investing in is the location. Even if the property is in a perfect state, if it’s poorly located, chances are you will be losing money. Some of the factors that determine if a location is the local economic health, the levels of vandalism and crime, the school district, etc. Before coming to a final decision, make sure you do a thorough investigation of the location. Choose areas, for instance, that have great schools, fun attractions, quality transportation options, high walkability, and great retail spots. Proceed with caution—no matter how the numbers look on paper.

If a property has been on the market for six months or longer, other investors have probably checked it out. There’s a reason it’s not selling. It could be a bad neighborhood, too many issues to fix, whatever the reason…a property that has been for sale for months and hasn’t sold might be too much trouble than it’s worth. Dig deep into why it has been for sale for far too long to find out why exactly. While it’s possible for a property to simply evade the attention of other prospective buyers and investors, this isn’t the most likely explanation of a listing that’s been up for a long time. If it seems like there’s no interest in a given property, it’s a red flag there isn’t sufficient market demand for that type of investment.

The Bottom Line: Nobody wants to deal with the fallout after a bad real estate investment, so you must do everything you can to minimize your risk and do a lot of investigating on each property.

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Will Your Home Be The Only One Not Selling Right Now?

Seller’s Market. Some say your home will sell in a matter of days, even hours in some markets. Some may say that there is absolutely no guarantee that your home will sell, even if it’s a hot seller’s market. Are you ready? It’s enticing. You keep seeing your neighbors’ homes selling – FAST. Is your home ready? Here are some reasons your home may be THAT home not selling.

PRICE:  Any house, in any condition, will sell – if the price is right. But buyers expect discounts for several reasons including dated kitchens and old plumbing. The danger of setting a price too high and then dropping it gradually is that when a home stays on the market too long, especially in this seller’s market, buyers assume there is something wrong with it and pass on looking at it. Your best bet is getting the price right the first time. A good Realtor will know the magic that it takes to do this.

PHOTOS: That first online impression – 90% of all buyers start their home search online and it’s then that they decide if they should make an appointment to go see it. If there are not many photos, buyers assume the worst. If there are few photos but they are clearly not professionally taken, or the photos show the clutter, many buyers will move on to the next listing. When you hire a skilled Realtor, he or she will have access to a professional photographer, hire one or have one on the team. Some agents still rely solely on traditional marketing tactics, like flyers and postcards, to market home listings. But, this is a mistake. Most buyers go online first. And the photos need to be perfect.

STAGE: It might be a hot market right now but that doesn’t mean you can just hire a Realtor and list it. You’ve got to put in some work and make the home worthy of its price. Declutter, fresh coats of paint, clean up your front and back yard. The overall goal is to make each room feel fresh and inviting and easy for buyers to envision themselves and their belongings in.

The Bottom Line: Know that you are selling in an extreme seller’s market and are more likely to sell for closer to your asking price than you would usually. Choosing the right Realtor is paramount when putting your house on the market. One who is knowledgeable on the local market and with experience selling in your neighborhood. Selling a home is a big life milestone and can be complex with all the many steps involved. The consequences of a mistake can make a big impact. It pays to spend the time and money to make sure you are getting your home on the market and ready for success.

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Seller’s Market: Make Your Offer Stand Out

Buying a home is one of the biggest and most important decisions a person will make in their lifetime. Financial stress is often compounded in a seller’s market when there is heavy competition among buyers. If you want your offer to be the most attractive, here are some tips.

Get preapproved. The one resounding rule all real estate experts will agree on is to get a mortgage preapproval before you begin your search for a new home. If you want to look like a serious buyer, the first thing you need to do is show the seller that you can actually close on the home. Get a mortgage preapproval – not just a pre-qualification – letter, and if you are a cash buyer, submit proof of funds with the offer.

Work with an experienced Realtor. Find someone you trust who truly knows the local market. Even better when that Realtor has connections to other Realtors — not only to view the non-public listings but also will know what other properties in neighborhoods you like might come on the market soon.  In today’s hot seller’s market, you’ll need someone who can steer you away from pitfalls, is a master negotiator, fiercely devoted to putting your best interests first, and can multi-task. The right agent can make a world of difference.

Up your earnest money deposit. If the house you’re making an offer on is the be-all-end-all, and you can’t imagine not living in it, prepare to boost your earnest money deposit. Show the seller that you mean business and you’re prepared to do what it takes. Your Realtor will be able to guide you to that perfect number that will prove your worthy.

Waive the inspection contingency. Most sellers are anxious about the home inspection. They worry that the buyer will ask for major repairs. This is an aggressive tactic that can be risky but yield positive results. Talk to your Realtor because right now, buyers have had an inspector attend home showings with them to do a quick on-site inspection. In the end, if you have the financial means to play it out this way, then the additional cost of making your own repairs is a risk you might be willing to take in order to get the house you want.

The key to getting your offer accepted in this heated market is to present the easiest, stress-free scenario for a seller.  The fewer demands you make as a buyer, the more likely it is that your offer will be accepted. Contingencies come in many forms, and the fewer of them you have, the more attractive your offer will be. Keep the offer straightforward.

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First Impressions Matter Even in a Seller’s Market

Curb appeal is everything, even during a seller’s market. It is paramount that you make sure the exterior is in excellent shape. There is truth to that old saying, “you never get a second chance to make a first impression” – many potential buyers drive by the home before they make the call to see it.  Making sure that it is in the best shape, will get them in the front door. Be sure to call the best Realtor in town to get advice. Sometimes, as the owner, you can’t see as clearly what needs to be changed or updated and need a professional to help.

Title First Agency hears a lot of what buyers see and we have listed some of the exterior home improvements that can increase the resale value of your home AND  help sell your home even faster.

The front door: If potential buyers have decided to see your home, the door is the first thing they will see and walk through.  Just a fresh coat of paint or replacement or removal of a damaged screen or storm door will speak volumes. Polish metal knobs.  Consider replacing the door it if it is worn-out or banged-up. It’s one of the investments made that can more than pay for itself with the amount of value it adds.  Then, add potted plants to each side of your freshened up or new front door.

The approach to the front door: How is the driveway? Does it need to be power washed? Resealed? Is there a fence? Is it broken anywhere? Are there cracked pavers? A knowledgeable and honest Realtor will take that “approach” walk with you and help point out things you may not even notice because you have walked by it so many times.

Update your landscaping: Before the drive-by, most potential buyers search on the internet for a home. The pictures will be worth a thousand words and to have beautiful landscaping will help showcase your home and be put on the buyer’s list to see. The best Realtor will tell you that you want to make it easy for possible buyers to envision themselves coming home to your home every day. Remove any distractions (garden accessories, etc)- spruce up it up with inexpensive shrubs and brightly colored flowers. If it’s Fall or Winter, make sure your yard has been raked of leaves, sticks and other debris.

Home repairs: Make sure there isn’t any loose siding, replace loose or damaged roof shingles. Look for any wood rot – again, you may need to call an experienced Realtor to help you “see” what you have looked at every day. Is there a deck, a front porch or a patio? If your home needs a new roof, it would be in your best interest to just replace it. Buyers tend to shy away from homes that will be needing a new roof soon. And, adding the detail of “new roof” to your listing will grab even more buyers’ attention.

Windows: Fix any cracks, clean screens, and storm windows. Have you washed your windows in a while? In between the glass and the screen is a whole world of dust and fun that should be cleaned. Shine them so that from the street they look brand new.

The Bottom Line: Even in a seller’s market as we are experiencing just about everywhere right now– some homes linger on the market for weeks or months, while the homes around them go into contract within days. A book is judged by its cover, and you only have one shot to make a good impression.  Even in a hot market, buyers want to see a home without visible deferred maintenance. Take the time to put on your home’s best face. Make your home stand out from all the other homes on the market and get the most out of your sale.

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Advantages of Using a Realtor in a Seller’s Market

Here we are, in almost every state in America, smack in the middle of a seller’s market. People looking for their new homes are desperate and frustrated. Inventory is scarce and bidding wars are abundant. It is, indeed, a challenging time to purchase a home. However, if you have ever thought about selling your home, now might be the best time to do it. If that is the case, you are surely aware that your home will sell quickly and most likely for more money.

If it’s so easy to sell your home right now, you might wonder if you should just sell it yourself and skip hiring an agent. If youre going to sell it and make money on it, what is the point of getting involved with a Realtor?

There are plenty of good reasons why working with a Realtor in today’s seller’s market is important.

Marketing

All Realtors have access to a myriad of marketing opportunities that will get your home in front of buyers such as the MLS, social media, open houses, advertising, and word of mouth within their well-connected network. You’ll get much more exposure. The MLS is the first place most Realtors begin searches for their clients and it is also automatically syndicated and displayed on third-party sites like Zillow or Trulia.

Often sellers get overconfident in this market climate and forget the basics, like staging your home, updating inside and outside, and clearing out clutter. Homes are not just quickly snapped up for a high price no matter the condition. The home should have amenities comparable to other properties for sale in the same price range. If you need to upgrade certain things in the home, do it as these changes can make all the difference between a quick sale and one that sits.

It’s good to remember the condition of your home can either grab a buyer’s attention or have them running away, even in a seller’s market.

Negotiating

Do you think you would be able to handle a bidding war that is common right now in this seller’s market? There are challenges to working with multiple offers on your home and when you have a Realtor negotiating for you there is a better chance of you making the highest profit on your home.

The best Realtors know how to help their clients get the most money during negotiations. They are able to skillfully navigate prospective buyers’ emotions, work with multiple offers effectively, and know how to use timing to your advantage.

Pricing

Even though it is a seller’s market and bidding wars are normal, you will want to have a pricing strategy to ensure your home is sold for the most money possible. It’s tempting to price your home well above the market but it could and probably will turn off informed buyers and leave your home sitting on the market. Even if a buyer agrees to your big price, they might not be able to close if the appraisal comes in low. Additionally, a good Realtor will fight for your property value. They know how to deal with appraisers to get the value where it needs to be for closing.

The main goal is to find the perfect price and an experienced Realtor knows how to do that. The price will reflect the comps in your neighborhood, including homes currently in escrow which might be more than the current comps. A Realtor will be able to reach out to other agents to get the information needed.

The Bottom Line: It’s quite challenging during a normal market, it’s a whole other stressful endeavor during a seller’s market. Hiring a Realtor right now is preferable because of their experience and resources which lead homes to garner higher prices on the market.

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What to Know Before Entering the Real Estate Market

Buying a house is a milestone that many want to reach. Having a place to call our own and transform into a home where you can start a new chapter of your life seems like a great idea. Making that dream into a reality takes saving, planning, and researching, which often leaves people feeling overwhelmed and potentially discouraged. Knowing where to start isn’t always crystal clear, and in today’s competitive market, having tools to know where to start and how to stand out will help you navigate the world of buying a home for the first time.

Start Saving Now

Saving for a purchase as big as a house takes time, effort, and strategy. It is never too early to start saving for the home buying process. Consider opening a separate savings account to keep your spending money away from your future house money. It may even be beneficial to look at different savings accounts at other financial institutions to see who will give you the better interest rate while your money sits in savings. If your house buying plans are years in the future, consider putting your funds in a certificate of deposit (CD) where you can earn the most interest during that period. While standard savings accounts have an interest rate, it is smaller than the interest rate of a CD. Locking your funds into a certificate for a year or two may be a good choice if you have a good chunk of money ready to accrue interest. With the time and balance constraints CDs have, some may find a standard savings account more beneficial. While the act of saving, in general, is an incredibly important component of the home buying journey, it is also important to know all of the things you need to save up for.

Down Payment: The majority of the money you save will be for the down payment you make on a home. The more you save up, the better your chances are at securing a loan from a lender or negotiating with a seller. The larger your down payment, the less your loan amount will be, which means you can pay off your mortgage faster.

Closing Costs: The closing costs are fees collected at the end of the buying process. The day you sign the paperwork to buy the house, you will bring funds for the down payment and funds for the closing costs, which include fees from many things done during the loan process.

Here are a few examples of what your closing costs could include: an appraisal of the property, attorney fees for the documentation of the closing, the first year of homeowners insurance, escrow fees for the first two months

Your closing costs can include many things, some may be small, but they can add up quickly. Keeping track of what your closing costs include will help you prepare for how much money you will need to save. Communicating with your lender during each step of the process will prepare you for the closing date.

Understand the Market You Are in

The state of the housing market can turn on a dime. One day it is a buyer’s market and the next, a seller’s market. What that means and how it can impact your journey is important to understand before you start your home buying process.

Buyer’s Market
A buyers market is when there are more houses for sale than people looking to buy. The market consists of homes looking to sell. Often they are on the market for quite some time, which allows the buyer to have the upper hand. There may be price reductions on properties to incentivize a sale, which could bode well for your budget. You can also negotiate with the seller on things like keeping appliances in the home or having the home warranty included in the purchase.

Seller’s Market
This is when more people are looking to buy than there are houses for sale. This gives the sellers an upper hand in that they can have multiple bids on their property, thus driving up the final sale price. If this is the market you are trying to buy in, you may find yourself in a bidding war between yourself and other potential buyers. You want to find ways to stand out that do not take you outside of your budget. This could include a letter to the sellers describing yourself and your situation and why you want to buy their home, which could have them sympathizing with you and find you more deserving of the property. You may also consider offering things like a flexible closing date or a larger amount of cash as a down payment to make you more appealing to the seller.


The market you are buying in will determine how aggressive you need to be as a buyer. If bidding wars are part of your journey, you will have to be prepared to act fast and either increase bids or fold quickly. In either market, you should prepare to say goodbye to a property promptly, as situations can change an offer instantaneously. Things like problems with the inspection or appraisal or even problems with the seller’s housing situation can have them reject the sale. Remembering that nothing is set in stone until you close will help prepare you for surprises that come your way.

Consider the Pros and Cons of Your Housing Options

When you start looking for a house for sale, you and your realtor will decide what type of property you are hoping to find. There are benefits and disadvantages to each type of property available on the market.

Turnkey Home
These homes are often state-of-the-art with appliances and finishings that are on-trend at the moment. A turnkey property could be a great choice if you aren’t looking to do any work to the home after moving in. The downside to buying a turnkey home is that it can be expensive and close to the top of your budget. Depending on the type of market you are in, you could find yourself in a bidding war and potentially lose.

Foreclosed Home
Buying a house in foreclosure can have many benefits. These homes are cheap, often sold at auction, and can need quite a bit of repair. Because they sell at such a low price, you can have an easier time financing the renovations you need to do without going over budget. This will also allow you to create your dream home from scratch. The downside to buying a foreclosed home is that there could be hidden liens on the property that you don’t know about, so it is important to do your research before considering buying one of these homes.

Townhouse
A townhouse is a multi-story house that has a communal wall with the homes next to it. Usually found in urban areas, they have very little yard space and can be the perfect home for someone who craves city living. Townhouses generally have a Home Owners Association (HOA) they must be a member of, which some may view as a pro or a con. The pro is that in paying the HOA fees, they cover things like maintenance of the grounds, which many traditional homeowners would have to do on their own. While townhomes can be more affordable than a traditional home, some may find paying the membership fees for the HOA can take them outside of their budget.

Consider the type of house you want and how that will impact the cost. Buying a home that needs a lot of work to bring it back to good shape can seem like an exciting project to undertake, but make sure you can handle both the financial pressures and the time constraints. If you want to renovate the house from the ground up, chances are you aren’t going to be able to live there while renovations are happening.

Buying a home is an exciting experience. While it may be stressful and overwhelming to think of where to start, sitting down and organizing your to-do list will help you visualize the process. Crossing things off your list one step at a time will help you feel like you are making progress. Always make sure a title search is on that list of things to do before purchasing a home to make sure you are in the clear and the property can really be yours at closing. Once you have those keys in your hand and you step through your front door, you will feel your new chapter starting in a home you call your own.

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