2019 has been a great year but now we’re on to 2020! Here is some of the best advice for homebuyers over the last year. Click on the title to read more on any of these topics.
We all want to feel good about a purchase whether it’s a dining room table, a car, or a house, but what are those red flags that might pop up indicating that this might not be as good of a deal as it sounds? I’m all about going with your gut when purchasing real estate so if you come across some interesting red flags, they may be assigned this is not the best deal for you. Here are those top red flags to know whether a deal is too good to be true.
We all have heard the term “hack”, which refers to a shortcut or unique way of doing something that we’ve all been used to doing one certain way. Well, now there’s a term called “house hacking” and as you guessed it, it’s unique and creative ways to find the perfect house. The Internet loves the word hack because it means there is a creative or inexpensive shortcut to solve a common problem. If you’re looking to break into the real estate market but are unsure of how to do it or are intimidated by the big guys, house hacking is a really great alternative.
Whether you’re buying a new construction home or a historic, vintage property, making sure the right codes and legal requirements on the building construction is a major component, especially if your financing the property. But, many older homes might have some issues that at the time, were not required to be up to code, but now that the property is for sale, does the owner have to bring the property up to code in order to sell?
Rental properties are in full swing and now is a great time to consider buying a rental property because most owner-occupied homes have already been sold over the spring and summer. We’re now left with a lot of homeowners that may not have sold over the summer and there willing to drop the price a bit.
The American dream of owning a home has become easier over the years and while we are deeply rooted in consumerism, Americans are looking at things that are making them happier, and homeownership isn’t necessarily one of them. However, buying a home is a great investment if you do it strategically. It’s a large responsibility and is a great financial undertaking and it’s important to factor in your job or career when considering buying a home. So how can buying a house affect your career?
When buying a newly constructed home some buyers forgo the use of a buyer’s agent and deal directly with the builder and the builder’s agent. To some buyers, it may seem that a buyer’s agent is unnecessary but in actuality, a buyer’s agent can be quite helpful in new construction purchases.
A common misconception among homebuyers especially first-time homebuyers is that a buyer’s agent will cost too much money. A buyer’s agent is free of charge to the buyer. Buyer’s agents only make a commission when a home is sold. The buyer’s agent splits a percentage of the profit from the sale of the home with the seller’s agent.
I can’t tell you how many families I spoke with over the last few decades that are moving to the Seattle area or surrounding cities such as Mercer Island or Bellevue or other areas that choose to rent before they buy. And this is a pretty smart move. Consider this; if you’re moving to an area that you’ve never lived in before, find a home that you want to buy and then decide after you’ve lived there a couple of months at this really wasn’t the best neighborhood, school district, etc., it can be very difficult to list the house again and find another place to live. You’ll probably lose out on some equity and chances are most people will simply settle and live in the area that they don’t like for quite some time. This is why renting before you buy make such good sense.
Real estate teams are forming all over the country but are they a benefit for the client? Real estate agents typically belong to an agency or brokerage. This is where they hang their license unless they want to be on their own, taking all the risks and liabilities of a brokerage on their own. For instance, I’m part of Windermere, it’s the brokerage under which I work. Windermere assumes all the liabilities and carries the insurance for all our agents. But within that, there can be real estate teams or partnerships.
There are a lot of new home subdivisions and developments popping up all over the Puget Sound and I’ve sold dozens of buyers brand-new construction and in all that time, there are some tips and secrets to know about saving money when buying new construction and what to look for.