Blog — Page 747 of 936 — First Rate Financial Group

25

Aug

Mortagage Tips

The Type of Home You Want to Buy Determines Your Closing Cost and Here’s Why

Savvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment but the closing costs as well. The closing costs can account for as much as three to five percent of the sales price in some cases, so this can be a rather sizable amount of money. Some home buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased. With a closer look at why this is, home buyers can make a more educated decision when selecting a home to purchase.

Prepaid Taxes And Insurance

One of the most significant closing costs relates to prepaid taxes and insurance, and both of these expenses are directly tied to the location and value of the property. Consider that the property tax rate can vary based on the city, county, and state. Real estate insurance can also vary based on the type of construction of the home if the home is located in a flood plain and other factors. These are only a few examples of how the location and property type can impact these fees, and home buyers should consider the costs associated with the tax rates and insurance when selecting a property to purchase.

Third Party Reports

There are several third party reports that are commonly paid for at closing, and these include an appraisal, a survey, a pest inspection and a property inspection. The third party reports may vary in cost based on the size of the home, the amount of land that is being purchased, and even the condition of the property. Those who want to keep their closing costs lower may consider learning more about how these fees are calculated up-front before finalizing their plans to buy a specific home.

Title Insurance Fees

Title insurance fees are another typically sizable expense for home buyers, and this insurance offers protection to the lender if the title is not clean. Title insurance can increase based on the size of the property as well as different factors that are revealed with a title search. This information can be difficult to learn with an initial home search, but home buyers should be aware that title defects can increase closing costs.

The location, size, age and construction of a property all impact the closing costs. Those who are shopping for real estate may be inclined to make a decision that keeps closing costs down, and they can reach out to their knowledgeable mortgage professional for more assistance with their particular situation.

24

Aug

By support

Home Buyer Tips

Buying Your First Home? Learn These 5 Essential Home Maintenance Skills as Soon as Possible

Buying Your First Home? Learn These 5 Essential Home Maintenance Skills as Soon as Possible New homes can be scary. But when you take the time to think about it, and plan ahead, maintaining a home is easier than you think a manageable mix of experience and common sense. Here are five skills that will help maintain your new home for years to come.

Fixing A Toilet

It’s not as daunting as it sounds. Just remember that toilets work with gravity the water wants to flow freely. Don’t be afraid to open that tank up and adjust the floater and valves as needed. Occasionally run the water (flush the toilet, turn on the sink) in unused rooms, like the guest bathroom, to keep the pipes clear and functioning.

Dealing With Animals

Sometimes your animal neighbors invite themselves in. While it’s always better to use professionals if you have a large-scale or persistent pest problem, there are steps you can take to minimize animal visitors before it comes to that. Check for termites by looking for raised, hollow tubes along the wood (tubes filled with bugs). If you have mice, and know how they’re getting in, block their holes with steel wool and set friendly traps ones that capture instead of kill. But make sure to release the captives far from your home.

Electricity and Water Awareness

Know how to shut off your electricity and water, just in case. Find the shut-offs when you first move in. And take the time then to test the breakers and label them, clearly, directly, with permanent marker. That way there is no confusion if one gets tripped.

A Regular Deep Clean

On a regular basis, give your house a deep clean. Scrub the bathrooms, clean the kitchen appliances and floors/walls. Doing this will not only prevent the accumulation of dirt and grime, which could lead to bigger problems later on, but will also give you a chance to do a run-down of your house and see what needs fixing/updating/replacing.

Be Prepared

Gather your home maintenance kit (Home Maintenance for Dummies has examples) before you need it, and keep it up if you use all the nails, replace them. It’s also a good idea to make a maintenance calendar with notes on what needs to be done when this makes it easy for the homeowner, and anyone they need to step in. Finally, in being prepared, don’t forget to maintain your fire and carbon monoxide detectors with regular checks and battery changes (suggested every six months, regardless of battery life). Contact your mortgage professional, who can help you get started on your road to home ownership.

23

Aug

By support

Home Buyer Tips

Getting to Know the Neighbors: 3 Tips for Building Good Relationships

Getting to Know the Neighbors: 3 Tips for Building Good Relationships One of the factors involved in feeling truly comfortable in your community is the relationships that you’ve been able to establish with the locals in your neighborhood, but it can be hard to know how to nurture a good relationship. Whether you’re moving to a new home soon or are wondering how to make some nearby friends, here are some simple tips for ingratiating the ones that live closest to you.

Offer up Your Favorite Dish

It might seem like a bit of a risk, but one of the best ways to get to know your neighbors is to knock on their door and bring along your favorite treat as an offering. Whether it’s your famed banana bread or your best chocolate chip cookies, simply showing up on the doorstep with treats in hand will ensure your neighbors know that you want to get to know them, and they’ll likely be happy to return the favor down the road!

Throw A Little Party

If you don’t want to go through the trouble of taking treats over to all of your neighbors, you may want to consider throwing a party or backyard barbecue at your home for a more effective means of meeting everyone. By putting flyers around the community, you’ll easily interest other neighbors in your newfound presence on the block. As well, if you don’t want to go through all the planning of a big party, you can also make it a potluck style meal so everyone can share their own dish.

Make A Habit Of Neighborhood Walks

It’s certainly the least complicated of all the other options, but short walks through your neighborhood may also produce the most success in getting to know more about your neighbors. If you have a pet or a child, these tend to be automatic conversation starters, but a simple smile or ‘hello’ will also do the trick in making your face familiar. It also means you’ll get to know people over time and will be able to build a solid relationship.

It can often be hard to know how to integrate into a new community, but a simple smile or knock on the door can mean a lot when it comes to building a friendship with your neighbors. Contact your local mortgage professional for more information.