Our Real Estate Blog
You're not the teacher...And you shouldn't pretend to be. You may notice, when your child is as young as seven or eight, that they are learning things differently than you did. This isn't a bad thing. Learning evolves with our society as we discover more practical ways to teach kids. When your child comes home from school and gets ready to do their homework, make sure you're not undoing the work their teachers do all day by trying to teach them a different way of solving the problems. If your child is struggling, seek out extra help from the school or the teacher who will be able to find the best way to help your child succeed.
Setting up the homework environmentThe place where your child does homework should be relatively distraction free. Choose a well-lit room with the TV off. Make sure your child has eaten before homework time and make sure they take breaks as needed. If your child is struggling with homework, don't get upset with them. Try to be understanding and to work together to find a way to help them complete the assignments. Just like you have the occasional bad day at work, your child will have the same experiences with their homework.
Don't be a dictator, be a helper...Setting extremely strict rules about homework has been shown to make a child dread school even more. Find a schedule that your child works best with and follow that schedule. If your child needs to play outside or watch a favorite show after school, give them this time to unwind. If they react better to getting homework out of the way as soon as they get home, choose this route. Either way, you'll need to have a discussion with your kids about setting a homework schedule that you are both happy with. When it comes to being actively involved with teachers, PTAs, field trips, college prep, or choosing high school courses, have a discussion with your child about how much of a role they want you to play. Research shows that different students have different preferences when it comes to how active a role their parents play in their education. And studies have shown that being very active doesn't mean your child will do better in school. Your role should be to help as much as your child would like you to, otherwise the best way you can help is to point them toward resources like their advisors and school guidance counselors.
If you are in the market for an FHA loan, you are probably happy to get many benefits from the loan like a good interest rate along with the need for a low downpayment. While these loans can be very helpful on the path to homeownership, they can be complex. It’s a good idea to hire a realtor who is well-versed in the ins and outs of FHA loans and standards. A real estate agent can help you to find the right property to suit your needs and meet the standards the FHA loan will require.
Do you know what you’re getting into when it comes to shopping for a home? The FHA sets the rules for how homes get approved for an FHA loan and under what standards. These rules exist because the FHA is insuring the loan, but the organization is not directly funding the loan itself. This insurance protects the lender if the loan is defaulted on. An inspection appraisal report must be completed on each property. The appraiser is required to be an FHA approved appraiser to complete the job.
There are limits on how much of a loan you can get when it is FHA-backed. This is because the FHA will only insure a loan amount up to this limit. This means that you won’t be looking at high-end homes because the limits are usually quite restrictive as to the type of property you can get. This holds true unless you can afford a larger downpayment than the standard 3.5% required by the FHA.
Condition Of The Home
FHA-backed home loans can be rejected due to the poor condition of the home. If an appraiser says that the home is unsafe or hazardous to occupants, the loan will be denied. The assessment of the home’s condition is very important to the lender’s decision to grant the loan. The lender may even require that certain improvements be made before the loan can be approved. These improvements can include pest treatments, fixing leaks, or other damages that are deemed hazardous.
The Property Itself
The FHA also sets guidelines for the type of property that you can get. A condo must be in a HUD approved complex, for example. If you want to research FHA-approved condo complexes, you can search right on the HUD website. Each complex meets the Department of Housing And Urban Development’s standards for financial stability, hazard, and liability insurance. If you’re looking at manufactured homes, these are also held to certain standards. The manufactured home must be permanently attached to the foundation, have the ability to be taxed as a real estate property asset, and have been constructed before June 15, 1976.
If you want to buy a terrific house at a budget-friendly price, it generally is a good idea to plan ahead as much as you can. In fact, with a homebuying strategy in place, you can boost the likelihood of a fast, seamless homebuying experience.
Now, let's take a look at three tips to help you craft a successful homebuying strategy.
1. Think About Your Homebuying Goals
Do you want to live in a warm-weather region? Or, would you prefer to buy a house in a city or town where you can experience all four seasons? Regardless of where you want to live, you need to think about your homebuying goals and incorporate them into your homebuying plan.
Make a list of what you want to find in your dream house – you'll be glad you did. With this list, you can narrow your home search.
Also, it often helps to review your future plans as you put together a homebuying strategy. For example, if you intend to return to school, you may want to consider houses located near top colleges and universities. On the other hand, if you plan to settle down and start a family, you may want to pursue houses near parks and other family-friendly attractions.
2. Consider Your Financing Options
Buying a house likely will be impossible without home financing. Fortunately, there is no shortage of home financing options available.
Oftentimes, it is beneficial to meet with a variety of banks and credit unions. These financial institutions can teach you about myriad mortgage options and help you get pre-approved for a mortgage.
Once you have your home financing settled, you can incorporate a budget into your homebuying strategy. Then, you can check out available houses and avoid the risk of overspending to acquire your ideal residence.
3. Consult with a Real Estate Agent
Developing a homebuying strategy sometimes can be tough, particularly for those who are crafting a homebuying plan for the first time. Lucky for you, real estate agents are available nationwide who can help you complete a successful homebuying journey.
A real estate agent is happy to meet with you and discuss your homebuying goals. He or she also can review your homebuying strategy and offer expert homebuying recommendations.
Let's not forget about the support that a real estate agent can deliver during the homebuying journey, either. A real estate agent will set up home showings, keep you up to date about new houses as they become available and negotiate with a seller's agent on your behalf. Perhaps best of all, a real estate agent will help you minimize stress throughout the homebuying journey and ensure you can purchase your dream home in no time at all.
If you want to get the most out of the homebuying journey, creating a homebuying strategy is a must. Take advantage of the aforementioned tips, and you can craft a successful homebuying strategy.
Moving into a new house takes a lot of time and a lot of money. It can take months to feel like you’re truly “moved in” once you’ve finally gotten the keys to your new home. As a result, many people rush to purchase and set up their houses as quickly as possible.
If--like most people--you’re on a budget, it isn’t always realistic to expect your home to be completely furnished set up in just a couple of weeks. That’s why it’s important to have a plan of your priorities when moving into a new home.
In this article, we’re going to talk about some of the “need now” and “it can wait” items for your home. In creating this list for your home you can make your move a smoother process and help yourself feel at home sooner without having to spend every waking hour (and every cent of your bank account) furnishing your new home immediately.
Read on for a list of the items you need at move-in, the things you should prioritize within the first weeks, and those that can wait.
What you need now
If you’re moving from an apartment or a former house, chances are you have a lot of the items you’ll need to get started in your new home. These are essentials like mops, vacuum cleaners, and your kitchen and bathroom essentials.
Next, you’ll want to determine the things that will make your life in your new home easier. We’re talking daily-use items that you might need for your morning routine. If you’re the type of person who frequently loses keys, it might be a good idea to prioritise a key hook. If you struggle to put on makeup in a dimly lit bathroom, installing new lights should be at the top of your list.
Setting your priorities for the first month
A good way to budget furnishing your new home is to give yourself a specific number of items to buy in the first month, then the second, and so on. Get together with your family, or significant other if applicable, and together determine what’s most important.
It may be that energy efficient windows need to be prioritized over new curtains and blinds. Or, you could have to find a paint color that matches your living room set before repainting your bedroom. Regardless, be sure to budget all of your purchases so that you feel comfortable and ready to take on the first month in your new home.
What can wait
There are a number of items in most homes that are purely cosmetic or decorative. However, the cost of all of the decorations in your home can add up. If you’re planning on starting from scratch with decorations, it’s a good idea to hold off until you have the essentials. This is a good opportunity for you to find the right paint colors and decorations that match your furniture and appliances.
Now that you have a three lists for your home, you should be prepared to furnish it at a pace that works for you.
The process of buying a house can be long and difficult. Whether you’re coming from an apartment or another home, you’ll want to time your purchase and move-in so you’re not paying for two homes at once.
What’s more, there are several steps required in the homebuying process, all of which you’ll have to give yourself enough time to complete.
In this article, we’re going to talk about the timeline leading up to buying a home. We’ll discuss how to figure out the amount of time you’ll need, and give you some advice on how to be ready sooner.
Prerequisites to buying a home
Before you consider purchasing a home, you’ll need to make sure your personal and financial life are ready for this commitment. Depending on what type of loan you are hoping to get, this could include saving as much as 20% of the cost of the home for a down payment.
Buying a home also usually requires good credit. If you have some issues with your credit history, you’ll want to take time to improve your score so that you can get a better interest rate on your mortgage.
Once you’ve settled on moving and have a general location, it’s a good idea to get pre approved for a loan.
Getting pre-approved for a loan is beneficial for a few reasons. First, it will let sellers know you’re a serious contender for buying their home.
Second, it gives you one fewer thing to worry about when it comes time to make an offer on a home that you’re interested in.
And, finally, pre-approval gives you a ballpark figure of the type of homes you can look at, saving you time when you’re shopping around for a home by avoiding properties that are over-budget.
The pre-approval process ranges from lender to lender. It can take as little as three days if you provide all the necessary information immediately. However, in some instances it can take weeks, especially if there are problems with the documents you provided to the lender.
Time before closing
If you’ve spent a few weeks viewing homes and considering your mortgage options, you’re likely getting ready to make an offer on a home. On average, this can take anywhere from 30-60 days.
The “contract to close” period can vary based on the type of loan you’re receiving and the underwriting process involved in that loan. USDA-guaranteed loans, for example, require added underwriting and processing time.
How to close sooner
So your lease ends in a few months and you want to make sure you’ll be in your new home before you have to move out. There are a few ways you can save time when buying a home.
First, make sure you provide your lender with everything they need to pre-approve you for a loan. Getting pre-approved quickly will save you a lot of time that is otherwise wasted while sitting around waiting for pre-approval.
Next, work with a real estate agent to find homes within your budget that are ready for move-in. Finally, be reasonable with your offer. Sellers, too, are typically on a timeline and will want to work with someone who is going to do their part to make the process as efficient as possible.