first time homebuyer | 1st Time Home Buyer ATL

What to Expect From a Home Inspection

While scheduling a home inspection can sound daunting, it is a very important step when purchasing a home. As a first time homebuyer, you may not know what to expect.

Here are some tips for first-time homebuyers about to embark on their first-ever home inspection:

Show up. You need to be present for the entire inspection, as do any co-buyers (e.g., spouse) and your real estate agent if possible. Being present allows the inspector to point out in person any specific flaws or issues with the property and explain what steps must be taken to correct the problem. You can also ask questions about items while the inspection’s in progress. For example, if the inspector finds an aging hot water heater, you can then ask how many years it has left and what it’s going to cost you to replace it. These kinds of tidbits are invaluable, especially for first-time homebuyers.

Know what’s included. Take an inspection checklist with you to ensure that all items are assessed or addressed. Specialized inspections for things like mold and carbon monoxide are considered to fall outside the scope of a standard home inspection, so if you think stuff like this could be an issue for your property, definitely arrange for these additional inspections.

Come prepared. I brought my camera, a tape measure, and a pen and notebook along with me to my inspection, and I’m really glad I did. I was able to sketch out the floor plan, take measurements of various rooms and spaces, make additional notes, and take photos of everything to tie it all together.

Don’t be afraid to ask questions. Ask as many questions as you want during the inspection–after all, you’re paying for the inspector’s time! A good inspector should welcome questions and will be happy to give you the details you need. Remember that they’re the expert and you’re the novice and that it’s OK if you don’t understand their terminology or know what they’re talking about; this is one time when pretending you’re an expert can actually hurt you in the end. If you have any specific questions or concerns about the property or particular items on the checklist, come up with a list of those beforehand and bring it along with you to the inspection.

Read the fine print. That long, boring report that the inspector sends you after the fact? It’s not a souvenir to remember him by. Set aside some time with no distractions to go through the report from start to finish. Make whatever notes you need to, and feel free to call the inspector to follow-up on items that need clarification.

Don’t Make These Rookie Mistakes While Buying Your First Home

Buying your first home is a big and exciting step, to say the least. Just because you’re new to the process doesn’t mean you can’t do your research and be prepared. By doing so, you won’t make these rookie mistakes.

1. Not knowing how much house you can afford

Before you get picky about countertops, have your finances in order. One of your first steps should be attaining mortgage pre-approval.

2. Assuming foreclosures are great deals

The old saying “too good to be true” often applies to foreclosures. First, decreases in home values can mean the house you’re getting isn’t the deal of the century you thought it was. Second, foreclosures are notorious for having repair issues, especially if they’ve been vacant for a while. It’s safest to proceed with caution.

3. Letting your true feelings show

As personal as homebuying is, don’t lose sight of the fact that it’s ultimately a formal transaction involving your money. Maintain a poker face to avoid being taken advantage of.

4. Failing to find a good buyer’s agent

Find someone you trust, someone who has your best interests in mind, and knows what you’re looking for.

5. Underestimating the costs of owning a home

Remember when you were a renter and you could call the landlord when the A/C broke and the toilet overflowed all on the same day last August? When it’s your house, it’s your responsibility. Don’t fail to take into account upkeep when calculating how much house you can afford, especially if it’s an older home.

6. Failing to budget for property taxes

Budgeting in all aspects is important, especially when it comes to property taxes.

7. Assuming your first offer will be accepted

As much as we would hope for this to be true, we know that often times it isn’t.

8. Skipping the inspection

Looks can be deceiving. That charming bungalow could be hiding some nasty surprises like structural issues or wiring that belongs in a museum. The inspector is your friend, especially if he has bad news!

9. Doing too much too fast

So you’ve got the house and you’re ready to go full-on HGTV, tearing down walls and retiling the bathroom. Have some patience. Live in the place for a year, figure out what you really want, and go from there. And don’t overextend your efforts thinking you’ll get it all back when it comes time to sell.

10. Failing to include a contingency clause in the contract

A contingency clause protects you and the buyer in case all doesn’t go as planned. Some of the more common ones are the house sale, subject-to-financing, and subject-to-inspection clauses. If the contingency isn’t satisfied, your offer can be withdrawn or modified.

What you need to prepare for your first house

4 Steps to Prepare for Homeownership

Buying a home is a big undertaking. From finding the right property and negotiating to sorting out the legal details and moving in, there are dozens of important steps along the way. And for many first-time buyers, it can seem overwhelming.

Fortunately, there are a few things you can do to make the process easier, even if you’re still in the planning phase. If you know buying a home is on the horizon, you’ll want to tackle these tasks before you get too far into your search:

1. Get pre-approved for your mortgage.
Research lenders, choose your mortgage company and apply for preapproval. This will give you an idea of what you can afford so we can point you toward homes in the right price range.

2. Give your budget a test run.
Once you have a rough estimate of what your monthly payment will be, give that budget a trial run. Are you still able to afford all your monthly bills and expenses? If not, let’s have a chat with your lender to see what the monthly payment could look like if we target a lower price point.

3. Start saving.
It’s never too early to start saving up for your down payment and closing costs. Cutting out unnecessary spending and setting up automatic deductions from your paychecks are two easy ways to give your savings a boost.

4. Create a wish list.
What do you want in your future home? Jot down your must-haves concerning size, location, and features. You can also include some deal breakers to help guide you in your search.

Are you looking to buy your first home soon? With the right help, the process will be less overwhelming. Reach out today for step-by-step guidance or a referral to a trusted lender in our area.

How to Create a Master Bedroom Retreat

Turn Your Bedroom Into a Sanctuary

Since we spend about a third of our lives sleeping, we should place high importance on the look and feel of the master bedroom. Follow these tips to transform one of the most important rooms of your home into a relaxing sanctuary.

What to Bring In

• Neutral Colors — Light, neutral hues like creams, taupes, grays, and blues provide a tranquil atmosphere. Use soft, coordinating colors for your bedding and walls.

• Soft Lighting — Overhead lighting can sometimes be harsh or too concentrated. Create a soothing mood with soft, balanced lighting throughout the room. Add lamps 1o brighten dark corners and illuminate each side of the bed.

• Window Treatments — A sense of privacy is essential to any sanctuary. Window treatments offer coverage from the outside world and can be a beautiful design element If outside lighting disrupts your sleep, consider blackout curtains.

What to Take Out

• Outdated Bedding — A relaxing bedroom begins with a comfortable bed. Most experts recommend replacing your mattress every eight years. Pillows should be replaced every two to three years or every six months if you have asthma or allergies.

• Excess Furniture — Get back to basics by paring down your bedroom to just the essentials. Most people require little more than a bed frame, a couple of matching nightstands and a dresser or chest of drawers. Anything more can quickly become clutter.

• Unnecessary Electronics — From more sleep to better family relationships, there are numerous benefits of having a technology-free bedroom. Reserve your master bedroom for rest and relaxation, and keep electronics out.

Makeover your master bedroom into a serene space you look forward to at the end of a long day. These tips can help you get started.

3 Options for Displaying a Collection

Are you a collector? Whether you have a passion for art, photographs, action figures or something else entirely, here are some options for displaying your memorabilia.

Mount it on a wall

Family photos and art pieces are commonplace, even among those who don’t consider themselves collectors. Fortunately, there’s no storage of creative ways to display wall art.

The trick is to focus on the frames, For instance, one method is to use frames of the same color but of varying sizes and designs. This creates visual interest and unites the collection. Figurines and other small items with depth can be housed similarly using shadow boxes or a divided case.

Hang artwork at eye level for optimal visual appeal. For museum-quality results, keep the center point of your display collection between 57 and 63 inches from the floor.

Showcase it on shelves

Curio cabinets and other types of shelving work well for arranging collections and giving individual pieces a chance to stand out. Whether you’re into vintage dishes or figurines, consider grouping your collection according to color or pattern.

If you have glass or crystal items, sunny windows are ideal spots for your display. And avoid overloading shelves; open space can make a visual impact.

Arrange it on furniture

When it comes to displaying eclectic items or combining collections, look to the top of your favorite furniture pieces. On the surface of a credenza or console table, mix tall and short items as well as various shapes and textures along a horizontal line, similar to a cityscape.

What if you want to keep the seller’s furniture?

When you buy a pre-owned home, do you know what will come with the house? Do you get to keep all the appliances, the art on the walls or the outdoor pizza oven on the patio?

Determining what will stay with the home and what will go with the previous owner will vary by seller and contract. Here’s how to determine what conveys with the home you’re considering, as well as tips to safeguard yourself when negotiating those extra items.

1. Check the listing. Start at square one and look at the original listing. Hopefully, the seller specified the items included in their home’s asking price.

2. Know the screwdriver rule. For the most part, if it takes a screwdriver to remove, it’s considered a part of the home. This includes shelves, light fixtures, and even curtain rods. But, if it’s hung on a nail, it’s removable and likely not included in the sale.

3. Negotiate with the seller. If there’s something you’re interested in that isn’t part of the listing, we can negotiate with the seller.

4. Talk to your lender. If the seller agrees to include big-ticket items, you’ll want to tell your mortgage lender. Depending on the type of loan you have, it could affect the appraisal or change the value of the property.

So, unless the seller specified the washer and dryer in the listing, you should assume they’re not included. As for the pizza oven? If it’s built into the patio, it’s probably already built into the listing price.

Have more questions about what’s included with a home? Get in touch today.

Is it time to replace your front door?

Your front door is one of the first things guests notice when visiting your home. In addition to providing security and protection, your front door can make a bold statement and reflect your personal style.

But whether or not your current front door matches your home’s interior and your taste, if you feel a draft, see any cracks or hear squeaky joints or scraping sounds, it may be time to replace it. Consider your options with some of the most common front door materials and features.

Materials

Wood: Though beautiful, solid wood doors are expensive and sensitive to the elements. Some modern wood doors come with steel cores to minimize warping and reduce cost.
Fiberglass: A durable and cost-effective option is a fiberglass composite door. Their foam cores are good insulators, and they can withstand harsh climates.
Steel: Strong but subject to dents, steel doors are the least expensive of the three. They have shorter lifespans and aren’t well-suited for extreme climates, but depending on their core, they can be energy efficient

Styles

There are multiple styles to choose from, including:

• Solid panel doors

• Arched doors

• Dutch or split doors

• Double doors

• Decorative doors with glass inserts

• Frosted glass doors with ornamental wrought iron overlaid for added security

You could even complement your front door with sidelights or a transom window while also letting in more outside light

Colors

The color of your front door should depend mostly on the exterior style and colors of your house, your personal taste and the type of door chosen. If your house is mostly neutral in color, don’t be afraid to go bold with your front door.

Use these tips to help make your front door an inviting entrance that not only offers protection from the elements but also reflects your personal style.

4 Tips for Competing With Cash Buyers

You can compete with all-cash offers. Here’s how.

In today’s hot market, bidding wars have become the norm. With many out-of-state buyers and property investors looking for a great deal, all-cash offers are also becoming common.

A cash offer can seem tempting for sellers since it offers the possibility of a faster closing. But despite this perk, cash buyers don’t always win. Many times, they make low offers or demand costly extras, both of which will mean lost cash for the seller.

Want to boost your chances of getting the home you want when competing with cash buyers? Here are some things to consider:

1. Include a preapproval letter. Get your financial documents in order, find a mortgage lender and get preapproved. Additionally, a note from your lender stating that you’re a well-qualified buyer can go a long way.

2. Work with a fast-moving lender. Average closing times vary significantly from lender to lender. Choosing one known for fast transactions shows sellers that you’re willing to move at their pace. Get in touch if you’d like a referral to a trusted lender.

3. Offer more earnest money or a bigger down payment. More money down means you’re serious about purchasing their home, which gives sellers more confidence in your offer.

4. Make an appropriate offer. We’ll discuss local comps to assess the home’s value, allowing you to make a solid bid right off the bat. Low offers are likely to be dismissed without a second glance.

Are you planning to purchase a new home soon? Get in touch today to discuss the right strategy for your home search.

Your GaPeach & YellowJacket Atlanta Realtor, Your referral is the greatest compliment.

Hire an Agent When Building a House

Many homebuyers think they don’t need to hire an agent when building a new home. After all, you’re buying directly from the builder and they already have contractors, lenders, and inspectors. Why should someone else be brought into the mix?

The truth is, buying any home without an agent can be a costly mistake. It can mean paying more than you should, missed opportunities for upgrades, contract errors that aren’t in your favor or a delayed closing.

Thinking of buying a new construction home? Here are three reasons to have an agent on your side before visiting the sales office:

1. Expert Negotiation: While their advertising would have you believe otherwise, builder’s prices aren’t always set in stone. Agents are skilled negotiators who can likely get the price dropped slightly or have a few upgrades thrown in.

2. Preferred Vendors: Your builder might have an affiliate mortgage lender or title company, but chances are they aren’t going to offer the best deal. It’s important to shop around, and what’s better than a vendor your agent already knows and trusts?

3. Guidance and Support: The homebuying process can be complicated, with lots of twists, turns, and steps along the way. When buying new construction, you also have design reviews, electrical work, and other construction needs. An agent can guide you through all of these, making sure your purchase stays on track, on time and on the budget from start to finish.

It’s important to note that while you may be working with an agent or representative from the builder, they may not have your best interests at heart. Enlisting your own trusted agent can give you an advocate from the very first meeting to closing day.

Are you interested in buying a new construction home? Get in touch today for more info about builders in the area.

Can you own your dream house with student debt?

Did you know you can buy your dream home while paying off student loan debt?

It’s true and even quite common. While student loans are factored into your debt-to-income ratio, they shouldn’t prevent you from becoming a homeowner.

And fortunately, there are many programs and options available to prospective buyers, some you may not be familiar with. Here are four ways people with student loans achieve their homeownership goals:

1. Co-buying With Friends or Family
Purchasing a home with a roommate, significant other or sibling allows you to combine multiple incomes to qualify for a better mortgage rate. This can help lower your monthly payment and make home maintenance more affordable.

2. Receiving Financial Gifts From Family
You can also accept gift money from your parents, grandparents or other family members to put toward your home purchase. Some loan programs have a cap on how much gift money can be used, so make sure you know the limits first.

3. Choosing Low (or No) Down Payment Loans
There are many low down payment options, including FHA, HomeReady and Home Possible loans. For loans with no down payment, VA loans may be available to veterans and military members as well as USDA loans for those purchasing in rural areas.

4. Using Assistance Programs
Down payment assistance programs can cover some or all of your down payment costs if you qualify. These programs vary by location, so talk with a lender to learn about potential options.

Working on your credit can also help you buy a home. Pay your credit card bills on time every month, aim to pay down your debts and never let an account go into collections. It also helps to get preapproved for a mortgage so you know how much you qualify for.

If you’re ready to make homeownership a reality or would like a referral to a trusted lender, get in touch today.

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