Biggest Regrets Home Buyers Experience

man frustrated

Though buyer’s remorse is never fun, there’s usually something we’d change if we could go back and do it again.  In a new survey, Chase Bank found out what some recent home buyers would change about their real estate purchase if given a second chance.

Here’s what home buyers say they would do in hindsight.

Get Smarter About Financing

While nine out of 10 buyers surveyed say they felt prepared at the time they bought their home. 56 % say that in hindsight, they should have known more about financing.

22% say they weren’t as educated about the closing process.

19% say they weren’t efficient enough on making an offer and negotiating.

15% say they needed more guidance on the overall financing of a home.

Choosing the right Realtor and Mortgage Lender is key here. So make sure you interview several in your area and ask for referrals from friends and family members before making your choice of who will handle your transaction.

Pick a Different-Size House/Area

39% of respondents, who say they would choose a house of a different size or a different price — or even in a different neighborhood — if they could redo their purchase.  Spend some time going to the area you are the neighborhood you are looking to move into at different times of the day and even different times of the week.  This will give you a feel of what the neighborhood is really like.

Adjust Expectations

A good chunk of buyers weren’t expecting the home-buying process to take as long as it did, with 40 % saying it took longer than they thought it would. 16% say they got a “pleasant surprise on timing,” according to the survey.  The length of the  home buying process varies from one extreme to another.  Stay in touch with your Mortgage Lender and your Realtor to get updates on where you are in the process.

Be More Prepared to Spend on Maintenance

Home ownership can be expensive. 34% of surveyed said that home-maintenance costs ended up being more than they expected.  80% of survey respondents say they considered their home move-in ready when they bought it, but 76% have since completed or planned renovations.  First time home owners are usually the most shocked due to the fact they just have never done it before.

 

Source – Realtor Magazine

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Sellers – What You Need To Know About Home Inspections

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Selling your home can make you feel like you are living in a house of mirrors, potential buyers and Realtors evaluating, judging and otherwise picking your home apart.  I mean you have loved it for years, what could be wrong with it? And then, just before the sale of your beloved home comes the most intense scrutiny of all – the home inspection.

One way to avoid the stress is a  pre-sale home inspection this way the Seller knows of any potential problem with the home before it occurs. The purpose of a home inspection is to ensures  the buyer knows exactly what they’re buying.  A pre-home inspection can also strengthen your power at the negotiation table so the Seller know what the bottom dollar of the transaction will be without a costly surprise near the end of the contract process.

If you’re new to the home sale process, here is what to prepare for and survive the home inspection. You’ll earn valuable peace of mind and possibly a profitable sale price as well.

Find a Reputable Home Inspector

As your list your home with a Realtor, let them know you need a respected home inspector.  Realtors deal with home inspectors every day so they will know who to recommend.

How a Home Inspection Works

Nearly all of today’s home contracts of residential properties include a home inspection contingency clause, this is a provision allowing the buyer to hire a professional home inspector to thoroughly evaluate of the house and determine if there are any issues with its structure or systems. Once the contract of sale has been signed, the buyer can employ a home inspector of their choice, whom they may or may not accompany during the two- to three-hour inspection.

A typical home inspection includes a check of a house’s structural and mechanical condition.  According to ASHI, the ten critical areas for inspection during the process are the structure, exterior, roofing system, plumbing system, electrical system, heating system, air conditioning system, interior, insulation and ventilation, and fireplaces.

Once the home inspection is complete, the inspector creates a report for the home buyer detailing their findings and they often include photos. This report will note problems requiring immediate attention and conditions that could lead to more serious issues over time.

Things to Consider When Making an Offer

inspection pic

So you have found the home of your dreams and now it is time to make an offer.  How do you know what a “good offer” is on the property?  Many people think of how much money to offer for the property.  However another important thing to consider is the terms of the offer. In some cases, terms can represent thousands of dollars in additional value for buyers — or additional costs.

Terms are extremely important and should be carefully discussed with your Realtor.

How Much?

You sometimes hear that the amount of your offer should be a certain percent below the seller’s asking price or an amount less than you’re really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes more. If demand is weak, then offers below the asking price may be in order.

How Do You Make an Offer?

In a typical situation, you will complete a contract with your Realtor and he or she will present to the owner and the owner’s representative. The owner, in turn, may accept the offer, reject it or make a counter-offer.

Because counter-offers are common (any change in an offer can be considered a counter-offer), it’s important for buyers to remain in close contact with their Realtor during the negotiation process so that any proposed changes can be quickly reviewed.

What about Inspections?

A number of inspections are common in residential realty transactions. They include checks for termites, appraisals to determine value for lenders, title reviews and home inspections.

Home inspections are particularly important. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely.  Some home structure issues must be fixed before the contract can go forward.  Other cosmetic issues are up for negotiation.  These conditions change from state to state.  Inspections usually take two or three hours, and buyers should attend. This is an opportunity to examine the property in detail, ask questions and learn far more about the property than is possible with an informal walk-through.

Summary

It is always to your benefit to choose your Realtor carefully.  Interview several before choosing the Realtor that fits your needs.  Purchasing a home in many cases is the biggest financial decision you will make.   Your Realtor can assist you through this whole process and bring you to the closing table to get the keys to your new home.

Source – Realtor.com

Protecting Your Home While You Are Away. What you should know.

 

This time of year we find ourselves thinking of vacations and planning away but are you planning for your home as well? You should be! Protecting your home while your away on vacation or any extended period of time is easy and takes very little time with proper planning. Here is a small checklist to help make this easier for you!

1. Contact neighbors to pickup mail or papers for you while you are gone.

2. Close all blinds and draperies to deter would be thieves

3. Install some timers on your lamps and set them to come on at different times during the day to give the appearance that someone is home.

4. If you have a main water shutoff into the home use it! Cutting off the water supply to the home will ensure no busted pipes and floods while you are gone. Be sure to cut off your water heater in this process

5. Inspect that all windows are closed and locked!

6. Notify trusted neighbors of how long you will be gone and they can help keep an eye on your home as well.

Following these simple guidelines can insure that you have a great vacation with no worries of what you may come home to! For more helpful tips on your home or information on Real Estate be sure to visit our website at www.hokepowell.com

For All Your Real Estate Needs

For All Your Real Estate Needs

Just Listed! Old North Anderson Bungalow Steps To Linley Park!

Looking For Charm and Character? How About Convenience To The Park, Shops, Hospitals, Grocery And Downtown? Then Look No Further, This Charmer Has It All! Spacious Bedrooms, Open Concept Kicthen and Living, Spacious Front and Back Yard! Get in touch Today For More Information On This Deal!

417 Glenwood Ave 417 Glenwood Ave

 

Spring Listing Season Is Coming Are You Ready?

Many Clients always ask me about listing their homes for “selling season” as it is presumed.  As many of you know and if you follow my blog I always stand by the belief that there is no such thing as “selling season” because people buy homes all the time throughout the year, However if you are preparing your home to sell for the upcoming spring, here are some tips to help you get it ready, increase value and get it SOLD!

1. Increase your curb appeal– Paint railings, pressure wash the exterior, lay down new mulch, pressure wash your driveway, clean out the gutters. Your home needs to look cared for and maintained! Nothing turn of a potential buyer like the lack of maintenance!

2. Decrease The Clutter- A cluttered home with tons of things puts the buyers attention on your personal belongings not the home! You want to make a lasting first impression about your home but not the impression and memory of how much stuff was in it!

3. Wash Your Windows and Spring Clean-Windows get very dirty in the winter because the house is closed up and also depending on your climate snow and rain can leave residue. Your home should be a fresh and clean place if selling, buyers don’t want unusual smells or hard to see through windows with dirt and grime. This also can help with increasing the initial offer you receive if the home looks and appears well maintained.

4. Remove Personal Items-I hold nothing against pictures of family members and or religious symbols however, you never can judge what a potential buyers faith or beliefs are and you certainly do not want to offend someone interested in your home. I always insist that sellers remove family pictures and personal items so that buyers can in vision themselves in your home not see memories of you everywhere.

5. Put YourSelf In Their Shoes- You also were a buyer once you bought that home did you not? So take the emotion out of the decision and think about what you would like to see when you walk through the door and the impression you would like to make. Start at your front door and go room from room making a list of what would negatively impact your decision from making an offer as if you are buying your home all over again.

6.Speak With A Professional- I cannot stress enough how important this is! Proper pricing can mean the difference in selling your home and growing stale on the market. Yes I know we all want to get top dollar for our homes but you surely don’t want to take a year or more to sell your home and end up getting frustrated and settling for a lower offer just to get rid of it! Either hire a Realtor or if you have the ability and are thinking of going the For Sale Buy Owner Route make sure you do your homework. Look through websites, see what has sold in your area, how much it has sold for and how it compares to yours. If you are hiring a Realtor do your homework there as well! Not all Realtors market or approach the market the same, we are not all equal!

7. Approach This As A Business Decision-If at all possible and I know how difficult this can be, remove the emotion from this transaction! I know we all make emotional connections to our homes. We have created incredible memories and stories of our lives there. However, remember why you have decided to sell in the first place and think of the incredible new memories you will make in your new home!  You may get a low initial offer or someone who has different visions for your home. Approach this as a business transaction and it will save you a lot of headache and heartache during this process. Though that initial offer may be low that does not mean that is what they will really pay! If you have a good agent they can work on getting them up or if they hate the deck you added so what, let them do with it what they will once it has closed and you have moved on to your new journey!

FOR MORE STAGING AND ADDITIONAL IDEAS TO HELP YOU WITH SELLING YOUR HOME VISIT OUR WEBSITE AT

The Powell Group

Once In A Lifetime Oppourtunity On The Shores Of Hartwell Lake!

Are you dreaming of Private Waterfront Property? Looking for a good Investment? Thinking of Building Your Dream Home? Check out this incredible 23.11 +/-  Waterfront Acreage. Incredible Water Views From Multiple Sites. 1000 foot of waterfrontage and 900 ft of road frontage and still close to shopping, schools and town. This property has never been offered for sale and has verbal approval for 8-9 docks. Good water even at these levels and low corp lines give you endless possibilities with this acreage! Exjoy your own piece of heaven with spectacular sun sets and waterfront living!  See more pictures and all the details at..

http://hokepowell.kwrealty.com/listing/mlsid/377/propertyid/20136197/

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