Articles Tagged "Buyers Advice"

Our REALTORS® love helping couples who are getting ready to start a family find the perfect home. There's something exciting about helping them explore Ann Arbor homes for sale and find the ideal place to begin this new phase of their lives. 

When young families are searching for a home, certain features become more important. Here are a few of the most desirable elements new families need.

1. Family-Friendly Location
   Location is always critical when shopping for real estate, but, when you're starting a family, it matters in a different way. You'll want a home in a great school district and one that's near parks, playgrounds, and doctors' offices.
   
   You'll also want to consider whether there are wide sidewalks for pushing strollers. Most young families prefer a quiet neighborhood without a lot of traffic. In the midst of the COVID-19 pandemic, another important thing to consider is whether the home is located in a place where you can easily get delivery services.

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Our REALTORS® are here to help you at every step of your home buying journey. That includes your quest for a financing package that will really work for you.

Financing is an essential piece of the puzzle for any homebuyer. Although it is most challenging for first-time buyers, it's always important to handle it with care. The right financing package can save you tens of thousands of dollars over the course of your home loan.

Ann Arbor homes for sale are still well within reach for a well-prepared buyer. However, you'll need to adjust your strategy to a housing market that has transformed practically overnight.

Here's what you need to know.

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Homes come in all shapes and sizes. There are single-level homes that sprawl out with spacious square footage. There are multi-storied homes with plenty of space between attic and basement for bedrooms, offices, home gyms, and more. There are row homes and four square houses that bring distinctive character to cities and suburbs. But finding the perfect home for your family among Ann Arbor homes for sale will require more than familiarity with differing architectural styles. Assessing your needs will be a crucial first step. 

• Getting Familiar 
  Consider the needs of everyone who lives in your home. Think of how everyone's needs will change as you grow older, and who will visit you regularly. A family with small children will need to consider which staircases will accommodate safety gates, and which surfaces might resist spills or scuffs as kids grow. Someone who uses the bathroom frequently, especially at night, will appreciate an ensuite bathroom, such as those that come with master bedrooms. Those who have trouble sleeping may appreciate the quiet that split or half levels provide, as the top floor is often solely for bedrooms.

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February 10th is National Home Warranty Day and, believe it or not, it may just be the most important holiday of the year for homeowners. Our REALTORS® understand that the homebuying process can feel like an overwhelming endeavor. With so many important decisions to make, we believe that all homebuyers should be aware of as many elements of this transaction as possible — one of which is when a home purchase warrants a home warranty. Let's define what a home warranty is, why some homeowners purchase one while others do not, and how to determine whether or not you'll need to purchase a home warranty for one of our Ann Arbor homes for sale.

Is Home Insurance the Same as a Home Warranty?

When you purchase a product, many manufacturers or businesses give you the opportunity to sign up for a warranty or insurance on the item. Sometimes a warranty is provided for free while an insurance plan requires an additional purchase.

So, what is the difference between a warranty and insurance when it comes to buying a home?

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Your credit score is a powerful three-digit number that affects many aspects of your life. Lenders use it to decide whether you get approved for a loan and at what interest rate. If you're shopping for Ann Arbor homes for sale, it's important to know what affects your credit score and the dos and don'ts of improving your creditworthiness. The 5 biggest factors that go into how your credit score is determined are:

1. Payment History
   Your payment history is the most important component of your credit score and determines 30% of your credit history. This scoring factor is used to forecast future long-term behavior. It looks at whether you can be trusted to repay the loan. FICO scores look at the amount of overall debt you carry, your credit card balances, credit limit, and the relation of your balance to the original loan amount.

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While most home buyers search for a "dream home" that meets all of their aesthetic and functional desires, many forget that other factors may create lifestyle issues that are less than dreamy. One aspect of the home buying process that all homeowners should consider is the commute from their home to their place of employment or other locations they'll visit on a regular basis. Before you make an offer on Ann Arbor homes for sale that are miles away from your daily destinations, consider these facts about long commutes.

Long Commutes Impact You Negatively

Do you think that a long drive to work is nothing to stress about? Think again. When you live a far distance from work, school or other locations you frequent, you may be negatively affected in a variety of ways. Studies show that a significant commute from home to your destination can harm the following:

• Mental Health
• Physical Health
• Work Performance
• Relationships
• Finances
• Vehicle

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When you're buying a new home, especially if it's your first, you may find yourself inundated in terminology and trade jargon used by your lender, your real estate agent, or others helping make your home purchase a reality. And while it may seem commonplace to people in the industry, to you as a buyer, those terms can seem ambiguous and confusing.  

Fortunately, Our REALTORS® know exactly what goes on during the buying process and know just the real estate terms you need to get through the buying experience with ease.

• Buyer's Agent/Listing Agent
  A real estate agent represents either a buyer or seller in a real estate transaction. Naturally, the real estate agent for the buyer is known as the buyer's agent, but the more ambiguous term is the listing agent, who represents the seller. While using the term "seller's agent" is acceptable, use "listing agent" to be technically correct.

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Our REALTORS® know a lot about the neighborhoods they work in, but even with the right people on your side, homebuyers will still have to do some research to find the right neighborhood. Ann Arbor homes for sale offer lots of options, so you're sure to find the neighborhood that's right for you. Here's how to figure it all out.  

• Talk to friends. If you have friends in the neighborhood, they will be a good source of information about day to day life there. If you don't have friends there, think about who might know people that live there or who goes there frequently. Sometimes people that live nearby, like an adjacent neighborhood can be helpful too.
  
  
• Spend some time in the neighborhood. Take advantage of a hotel or short-term rental in the neighborhood to stay a week or weekend and get a feel for how life might be for you there. You can check out recreational opportunities, restaurants, amenities, and commute times.

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The final walk-through is an opportunity to verify that the home you're buying is in the condition agreed upon within the sales contract. It's an important step, and you'll want to prepare carefully and stay focused so that you don't miss anything. Our REALTORS® will help you look for the following seven things that are critical to take note of as you go through the home. 

1. Check the Plumbing.
   You will want to flush all the toilets and run all the faucets. Make sure that you note any problems with water drainage or flow. You will also want to inspect the pipes for signs of leaks. These can include discolored drywall, bubbles in the paint, or stains on hardwoods. If the home has a sprinkler system, test the control box and confirm that the sprinkler heads function properly and that none are loose and leaking on the landscape.

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When you're in the market for one of Ann Arbor homes for sale, you may find yourself in a Goldilocks moment: Which house is too big, which house is too small, and which house is just right. For some people, buying a home means going up in square footage, and for some, it means downsizing.  

Moving to a home that is smaller than where you're currently living may seem less than beneficial, but sometimes the advantages are hidden. Here are times when downsizing makes sense.  

• Less Lawn Less Work 
  The most common reason folks nearing retirement buy a smaller home is that their current house requires more maintenance than they can or want to handle. It makes sense that a smaller home takes less time to clean, usually has a smaller yard to maintain, and has fewer components like HVAC units, gutters, and cabinets that break and need repairing. They also may come with lower utility bills.

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Problems uncovered during a home inspection are bound to be a letdown. They will most certainly raise concerns over both the safety and cost of repairing a damaged home. While some problems listed within a home inspection report may be an automatic disqualifier, there are some commonly discovered issues that our REALTORS® can help you negotiate. When an inspection detects problems with the home you want to buy, we recommend the following steps to move forward.

1. Assess the full extent of the damage.
   Roofing issues, electrical problems, leaky plumbing, termite damage, cracked foundations, and the presence of lead or asbestos can be expensive to remediate and repair. When damage is discovered, remain calm and speak with your real estate agent to determine whether they feel the issue is a deal-breaker or if it's manageable.

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Home buyers in the Ann Arbor area should get ready for a competitive environment when it comes to buying a home this year. Ann Arbor homes for sale are in demand, and as a consequence, it might help you to prepare for a bidding war. While it's impossible to predict what might happen, having enough options in place could give you an edge in a tight market.

1. Loan Pre-Approval
   This is the first step to take regardless of whether you expect a bidding war. Buyers see pre-approval as a sign that the buyer is serious, as do agents. Our REALTORS® can suggest mortgage brokers who can help you through this process.
   
   Remember that pre-approval does not mean you've been granted a mortgage. It means that a lender has looked at your financial situation and has given you an estimate of the maximum loan amount for which you could qualify.
   
   

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If you're looking homes for sale in Ann Arbor, you're lucky. According to Livability Magazine, beautiful Ann Arbor, Michigan, ranks first of the 2018 Top 100 Places to Live in the United States. Also named fourth in USA Today's Best Cities to Retire, the culture, economy, excellent public schools, safety, infrastructure, and community involvement in Ann Arbor are among the many factors driving these selections.

Home to the prestigious University of Michigan, the citizens of Ann Arbor and surroundings enjoy a wide range of artistic and cultural events, educational opportunities, and a full menu of intercollegiate sporting events. Restaurants, entertainment, theaters, and shopping venues are outstanding.

Components of a Buyer's Closing Cost Settlement

Whether you are upsizing or downsizing, relocating or remaining in Ann Arbor, working with an experienced professional realtor to guide you through the process of purchasing a new home is essential. Our REALTORS® possess in-depth knowledge of the area and are experienced in the finance and closing processes of any transaction.

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When it comes to Ann Arbor homes for sale, house hunters find ours is a vibrant city filled with art, culture, sports, and entertainment. During the holidays, something magical happens. Holiday lights twinkle and shimmer wherever you go, and you can feel the exciting celebratory spirit in the air. 

We know your holiday season is busy, but our REALTORS® want you to know that it's still a great time to look for your perfect home. We offer five smart reasons to buy a house in Ann Arbor during the holidays. 

1. Home Sellers Are Waiting For You
   You may have noticed that the real estate market slows down during the holidays, but not for everyone. While some sellers take their homes off the market until spring, others double their efforts. Those are the sellers serious who have reasons for selling right away. Perhaps they have a pending job relocation, or they've already bought a new home. Whatever their motivation, they'll listen to your offer and try to work out a deal because they need or want to sell now. They're just waiting for you to show up.
   
   

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If you're shopping for Plymouth homes for sale, you'll soon realize finding the perfect home is just the beginning. Once you locate the right home, you'll want to negotiate the right price too.

Our REALTORS® understand that the negotiation process doesn't come naturally to some home buyers. Fortunately, we have lots of negotiation experience, so we're sharing these six negotiation techniques with you.

1. Negotiate Seriously: Get lender pre-approval
   Contact a lender for loan pre-approval before you start home shopping.  A seller may take your offer more seriously if you come to the table with proof of financial backing.  Sellers understand you're not just window-shopping when you've made the time to be pre-approved.  They'll get serious too.
   
   

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Buying a home is a complex process, with a ton of priorities to manage along the way and sometimes emotional decisions to be made. It's easy to make mistakes during the homebuying process, whether you're shopping for the first time or hitting the market after happily living in your present home for many years. Our REALTORS® are here to help you avoid common home buying mistakes, with our guide to six things not to do when buying a home.

Avoid Homebuying Mistakes: 6 Common Ways to Botch Buying a Home

Whether you've just gotten the itch to shop for Plymouth homes for sale or you're a bit further along in the process, there are ample opportunities to make mistakes when buying a home. Here are six common mistakes that you'll want to avoid:

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Moving is hard enough for grown-ups, but it can be really challenging for kids. For children and teens, moving into a new house is probably the biggest adjustment they've ever had to make.

Buying a house when you have kids comes with a few challenges that most new homeowners don't have to worry about, like making sure your kids like their new home, and making the moving process as easy and stress-free for them as possible. Our REALTORS® have some advice on how to buy a house with kids in mind. 

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The home search process can be long and exhausting. For most people, it can also be thrilling, but the endless scrolling through online listings, flipping through local papers, and visiting open houses can take its toll. That's why, when you finally find your dream home, it's such an incredible moment. 

When you find your house, chances are you know it almost instantly. But the question still remains – What Comes Next? Our REALTORS® want to make sure you're able to get that dream home you've always wanted, so here's what comes next after you've found it.

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Home appraisals can be confusing especially for first-time buyers. Once you find a home that you like you must follow through by making the seller an offer, which is often contingent on several things including a home appraisal, a home inspection, and financing.

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Everyone wants to get the best deal possible on Plymouth homes for sale. A home is such a big investment, first-time buyers often fear they'll get taken advantage of or end up being forced into spend more than they can really afford. Don't let fear get the better of you. The good news is there's a lot you can do to ensure you're not overpaying for your home. 

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What Buyers Should Expect From a Home Inspection

Our REALTORS® know getting your offer accepted on the home you love is exciting. But the work isn't quite done. Don't forget about the home inspection. You'll want to know for sure your new home is in good condition or what repairs need to be done before you move in.

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You've found the house you really love, so now it's time to make an offer and make it yours. During this part of the process, you'll be glad to have one of our REALTORS® on your team. Their advice can be valuable and they'll make sure all the details are in place to help you get the house of your dreams.

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Being able to stay within your budget when you buy a home is essential to your long-term success as a homeowner. For first-time buyers, the details can get a bit overwhelming. But taking the time to figure it out before you start searching for Plymouth homes for sale can make a big difference. Here are a five tips for finding a home that fits your budget:

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Buying a home is a detailed process and it helps to have a plan, especially if you're a first-time buyer. Our REALTORS® can answer the questions you may have to get your home search started. Here are five steps to follow when you're searching for Garden City homes for sale.

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You wouldn't go shoe shopping without knowing your size, or set up a date without having considered what you're looking for in another person. So why would you go house shopping without knowing how much house you can afford? You might have a general idea of your budget, but there's only one way to know your price range for sure, and that's by getting pre-approved.

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