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Be Wary of These Things When Finding a New Home

November 7, 2020 by Mandy

Finding your new home should be a time of excitement in your life. However, it’s also one of those times when you should remember the phrase ‘buyer beware’ in terms of hidden issues in the home. Most of the time, sellers will be upfront with you regarding the home, but unfortunately, there’s always an exception to the rule. Here’s a quick look at a few of the things you should keep an eye out for to ensure you don’t end up in a home with issues.

Neighborhood

We all want to live in the safest neighborhoods to ensure that our families remain safe. This means that you shouldn’t allow the fantastic curb appeal of a home to keep you from glancing around at the other houses in the area. Are there a lot of them for sale? Why would that be? Do businesses in the area seem to be thriving? Are there a lot of people out walking around or does the area seem a bit vacant? Stay away from those that appear to be empty. If all the families have left, there’s more than likely a good reason.

Unmaintained Maintenance

Gutters, sinking foundations, poorly maintained walkways, and cracked fence posts are just a few of the clues to look for that will tell you that the maintenance of the home hasn’t been kept up with. Once you’ve gotten into the home to look around, check for things like the tiles, ceilings, and floorboards for proper maintenance.

Leaks

When you’re touring a home, ask if you might turn on and off the faucets. Checking these can help in the determination of whether or not there are any sort of leaks – which could lead to expensive water damage. Additionally, it will let you know whether or not the water pressure will meet your expectations. You might also want to give the toilet a flush to see just how quickly all of the water drains out and the bowl fills back up.

Windows

Windows are both aesthetically pleasing and functional, and can also be a source of hidden problems with older homes. Keep this in mind on your home tour and look to see if the windows happen to be triple or double-paned. Put your hands near the windows to find out whether there’s any cold or warm air coming in through the windows. Also, make sure they have locks that are secure.

Smells

Are there candles burning in each of the rooms? If there are, it might be in an effort to mask some sort of internal odor. If the structure has recently had to deal with things like water damage or mold, the sellers may attempt to cover up those smells by spraying air fresheners, lighting incense, or burning candles. Also, check outside for odors. This is critical in more urban areas, where smells from local restaurants may wend their way into the yard.

Finally, keep an eye out for any emotional defects the house may have. Are you aware that sellers aren’t made to disclose things like whether deaths or murders have happened on the site? That being said, they absolutely must tell you if you or your realtor asks them directly. Check the laws in your state on variations of that though.

Also, have in mind answers to a variety of questions, like the number of baths and bedrooms you want/need, storage space required, large or small kitchen, and other features. You’ll be in this house for many years, so it’s critical to get what you like and will fit your lifestyle and needs.

Are You Ready for Homeownership?

October 22, 2020 by Mandy

Owning a home is part of the American Dream. However, if pursued unprepared, it can become a nightmare. There are many responsibilities and costs associated with not only the purchase but also the maintenance of a home.

Finding a Home within Your Budget

When searching for a home, make sure it’s affordable. Staying within your budget is essential. A new home that doesn’t require any labor may be ideal. However, the price tag may be more than you can handle financially. Don’t dismiss an older home with possibilities, especially if the price is well within your means. If the inside needs some work, consider contacting local concrete contractors to acquire an estimate for the cost of completing the work.

A Good Credit Score Saves Money

Checking your credit score prior to beginning your search for a home is important. The higher the score, the better the chances of acquiring the lowest interest rates. Obtain a free credit score through the three valued agencies. If there are any errors, address them prior to applying for pre-approval on a mortgage.

Sizeable Downpayment

The more you put down on a home, the lower the monthly payment. Most banks require a 20 percent down payment to avoid PMI insurance. PMI can add a few hundred dollars to the monthly mortgage payment. Take this into consideration prior to buying a home. A larger down payment will also improve your chances of obtaining a mortgage through a traditional bank.

A Nest Egg

Aside from the mortgage payment, you will have to pay for homeowner’s insurance as well as school and property taxes. Depending on your location of interest, this can add several hundred and even a thousand more to your estimated mortgage payment. Additionally, you will have utilities, water, and garbage removal payments. Having enough money to cover a few months’ worth of bills in reserve will ensure that you don’t fall behind on your payments.

Home Maintenance

Homeownership requires regular maintenance. You will need to replace things like the roof and, on occasion, repair the plumbing. Decks need staining every few years and floors need resurfacing. Climate can cause excessive wear and cause maintenance requirements to become more likely sooner versus later. High winds and dampness can wreak havoc on a home’s exterior. The older the home is, the more urgent these items will become.

Are You Looking to Move?

Part of the home buying process should include careful consideration of the time you plan on spending there. Are you sure this is where you are going to live five years from now or are you considering moving to another state? There’s no guarantee that, if you plan to move in the not-too-distant future, you will be able to sell your home for the price purchased.

Excessive Debt

Buying a home when you are thousands of dollars in debt may not prove a good decision. Anything can happen such as a loss of income or an unforeseen illness. Without extra cash, you may end up losing your home. Instead, reduce your debt to a comfortable level that’s easy to manage. This way, if something unexpected happens, you improve your chances of staying in your home.

Homeownership Isn’t for Everyone

You may like the idea of owning a home, but not the restrictions it produces. A home costs a lot of money across the board. If you like to vacation several times a year and enjoy a carefree lifestyle, owning a home will limit these events. Make sure before you begin the process that you’re committed to homeownership. Otherwise, you may live with regret.

There’s a lot of expenses that come with the purchase of a home. Make sure you have the down payment, good credit, and savings to cover unexpected costs.

How To Select a Costa Blanca Real Estate Agent

April 8, 2020 by Mandy

If you are looking for a real estate agent on the Costa Blanca, keep the following points in mind before selecting a company or individual to help you. Buying or selling a home is no small matter, especially abroad, and it is important to work with a reputable agent you can trust.

Searching Online

It is a good idea to start your search for a top real estate company online. Visit the company websites and check the overall layout. You can get an idea about agencies by checking out their “About Us” pages. Are they transparent with photographs of the employees? Plus, do check the section of customer reviews and comments both on their site and on third party sites like Google. Going through the customer reviews can give you information on the agency performance. However, do bear in mind not all online reviews are genuine.

Visit Houses

Visiting houses in person can give you information about the communication style of the real estate agents. If an agent is not very interested in a potential buyer or is hanging around without putting in much effort to show a house, it is a red flag!

Consider Checking The Print Advertisements

When you check the print advertisements, you can see the ads displayed by the real estate agents. They will be marketing their services or trying to sell a specific real estate property. If you come across such an advertisement, check the official website of the agent. If the agent is advertising properties in print in your area, chances are they have expert knowledge of this area and help you buy or sell a property.

Ask For Recommendations

It is always a good idea to ask for recommendations from friends and expats who have spent time living in the area. Those who have already sold or bought a property through a reliable real estate agent will be able to guide you in your search.

Compile A List Of Potential Agents

When you have searched thoroughly, it is time to put together a list of potential real estate agents. You can compare the services offered by the agents once you have it listed in a single document.

Summary

There are many real estate agents on the Costa Blanca offering their services in the housing market. However, you have to find the one that is most suitable for you. Start by checking the websites of the top real estate companies in your area and find further information on each agent by going through the reviews and comments left by previous or current customers. You can visit a shortlist of agents to see their communication style in person. Check print advertisements and check the local neighbourhood signs for for-sale boards. Ask for recommendations from friends and professionals.

Your New Home: 3 Important Things to Know Before Buying a House

March 9, 2020 by Mandy

64 percent of Americans are homeowners.

Are you looking to join this lot? If yes, you’re just about to make a smart investment. Homeownership isn’t just a matter of pride and peace of mind. Over time, your home will gain value, meaning you’re bound to make a tidy profit if you sell it.

However, for most people buying a home isn’t an easy or quick process. From finding the right property for you to getting financing, the process can be a little complex.

That’s why you’re here, though.

Here are some of the most important things to know before buying a house.

Your Money Matters – A lot

The average cost of a house in the United States is $315,000. Clearly, you’re not going to afford a house if you don’t have your financial ducks in a row.

Most prospective buyers underestimate the kind of financial investment they are about to make, though. In other words, your personal finances matter a great deal when you’re looking to buy a house.

It’s not just about whether you have sufficient proof of income. You also not to ensure that you have good credit – the higher, the better.

Why does credit come in?

If you’re anything like most buyers, you’re going to get a mortgage. Lenders have different mortgage approval requirements, but none compromise on credit requirements.

So, if your credit is bad or poor, be sure to rebuild it before thinking of buying a house.

If you’re in debt, taking steps such as consolidating your loans can make a big difference. Just be sure to consult a debt consolidation company before taking the step. You can check out the best debt consolidation companies BBB for reviews of some of the best companies.

The Real Estate Market Keeps Changing

The real estate market doesn’t change quickly, but it does change nonetheless. Changes in market conditions influence property values.

Therefore, you need to keep an eye on the market when you’re looking to buy a home. Ideally, you want to snap up a property when prices are lower. This way, you’re sure that the property will keep gaining value.

However, if you buy a home when property prices in a certain market are at their peak, there’s a strong chance the home will take a long time before gaining substantial value. In fact, its value can drop soon after you purchase it, especially if economic conditions worsen.

A Real Estate Professional Will Improve Your Home Buying Experience

Buying a home is an exciting experience. Nothing beats exploring the market trying to find the property of your dreams.

As a newbie, though, you’ll likely make mistakes along the way – some costly. For instance, you could end up settling on a house that’s far from what you needed in the first place.

This is why it’s important to hire a real estate agent to guide you through the home buying process. This professional will help you find the property that you need – at a small commission.

These Are the Things to Know Before Buying a House

Being a homeowner is everyone’s dream. The pathway to this dream isn’t the straightest, though. There are many hurdles to overcome.

But with this lowdown on the things to know before buying a house, you now have the information you need to make the right moves.

Good luck and keep reading our blog for more insights.

Things to Consider when Looking for a Property in Spain

October 14, 2019 by Mandy

There are many reasons why individuals relocate in Spain, whether fully or partly. Not only is lifestyle affordable in this country, but the climate is also favourable, and people are welcoming. Now, Spain has many beautiful properties for both temporary and permanent residents.

Javea particularly offers elegant buildings. Individuals looking to reside in Spain can begin their search in this area. Here are, however, some questions one should ask before buying any property in this country.

Who’ll Negotiate with the Banks?

Well, negotiations are essential. They ensure that one gets a fair deal. While many people negotiate for themselves, there’s no crime in hiring someone else to negotiate on your behalf. You can look for a financial expert who has experience in this industry. But, if you choose to negotiate yourself, make sure you get quotations from different banks about the level of mortgages you might be offered.

Who’ll Handle Taxes?

Tax issues are often complicated and need an experienced mind to handle them properly. Although one can save some cash if they handle tax issues on their own, hiring an expert will make things less complicated and cost-effective in the long run. There are many additional taxes and charges that an ex-part buying in Spain should pay. A professional will, therefore, help you know which these taxes are.

Will You Buy the Property Directly from the Owner?

Many individuals buy buildings directly from the owner so that they prevent bureaucracy. However, doing this has some downsides too. It’s therefore wise that an individual weighs out options and see whether going through a realtor will benefit them.

Will You Hire a Removal Company?

Moving from one country to another is overwhelming. And the last thing someone should do is overstress him/herself during this time. While people do the removal on their own, it’s worth hiring a professional company. Although it is costly, it’ll save you time and effort.

What about Online Properties?

The internet makes our lives very easy. Individuals can check some properties online. However, one shouldn’t pay for a property they’ve not seen. Once you get what you like, go check that property in person.

Do You Need an Attorney?

Matters of legality are complicated. And need someone with a deep level of understanding to handle them. Often, many people handle the legal side of purchasing buildings in Spain on their own. But, because of many tricky aspects, it’s wise that one has a lawyer by their side. Lawyers will give you an insight into things you probably didn’t know hence saving one trouble in future.

What about the Renovations?

Well, if someone buys a house which needs some work carried out, they have two options. Depending on which type of renovations, individuals can either renovate themselves or hire an experienced company. Renovating on your own can save some cash, but it’s time-consuming, and the final results may not be impressive. If money is not an issue, one should consider hiring a professional team.

Relocating to another country is not easy. But these questions can help simplify things for you. It’s therefore wise that one takes time researching on the best options for them.