07
Sep
By support
Home Buyer Tips

Buying for Retirement: 3 Reasons Why You’ll Want to Buy Your Retirement Home Before You Retire

Buying for Retirement: 3 Reasons Why You'll Want to Buy Your Retirement Home Before You RetireMany people dream of buying their ideal retirement home after their career has come to a conclusion – with all that extra free time it seems like it’d be the most logical time to shop around.

However, many real estate professionals strongly recommend that their clients find a retirement property before they’re off the payroll. While it may seem like a big time commitment to find a new home while you’re still busy with your work there are several significant financial benefits to purchasing your retirement home before you actually do retire. Here are our top reasons why.

It Makes Your Mortgage Easy

When you are employed it is easier to get approved for a mortgage. If you wait until after you retire to buy your retirement home, you may not have the income require to qualify for the mortgage that you need. Don’t limit yourself! Buy while you’re still employed to keep your options open.

It Leaves You With More Spending Money

Buying a new home while you have an income provides you with more security with your expenses, such as mortgage payments and planned upgrades or renovations. Having an income can also mitigate financial stress should you run into any unexpected expenses after closing.

It Leaves You Ready For Reality

You may think you can accurately predict the expenses of your new home, but if you buy the property before retiring it gives you time to get to know the true amounts of your monthly payments. This can help ensure that you have enough saved to retire and live comfortably in your new property, with no surprises for your budget. You’ll be in a better position to create a financial plan once you know the reality of owning your new home.

An Added Bonus: It Can Be An Income Property

If you decide to purchase your retirement home before you retire you don’t have to move into it right away. You can rent it out as an income property until you’re ready to settle in, which will not only help cover mortgage payments but will also allow you to see first-hand what the monthly expenses are for the property.

This will also prevent you from having to deal with a move while working; you can wait until you do finally retire before packing up your current home and moving into your new one.

Contact your trusted mortgage professional today for more advice to set yourself up for the future.

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 PossibleNew 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 RelationshipsOne 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.