Posted by Jennifer Santosuosso on 9/16/2018

The process of buying a home is anything but cut and dry. There will undoubtedly be some twists and turns along the way. First, you need to be pre-approved for a mortgage. Then, youíll need to find a home that fits both your needs and your budget. Finally, youíll put in an offer on a place and hope for the best throughout the rest of the process.


There are plenty of things that you can do as a buyer to make buying a home both easier and more streamlined. Below, youíll find some of the best tips that are specifically for those seeking to buy a home. 


Give Them An Offer They Canít Refuse


When there is a low quantity of homes and a high number of buyers, competition can get fierce. When the market is like this, youíre not guaranteed to get a property that you put an offer on. It may take making several offers on homes in order for you to finally get the keys to your dream house. 


You never want your offer to be too low. A low offer could be insulting to sellers and instead of being countered, could just be outright refused. Make an offer too high and you still have a problem. A high offer may be accepted, however, itís not going to be approved by your mortgage company for you to borrow that much for the purchase. If an offer is accepted and a home appraises for less, you may be left with thousands of dollars that you need to pay on the spot in order to secure the home. 


The best way to present an attractive offer is to work with an expert realtor who can do the appropriate research and let you know what a good offer on the home would be.           


Know Your Contingencies


After an offer on a home has been accepted, you need to get to work on the contingencies that youíre going to want on the home. Your realtor will also be a huge advocate in this area. Contingencies will include things like the right to do a home inspection, the appraisal contingency, and the contingency that youíll only be able to move forward with buying the home if you have appropriate financing. These protect you as a buyer so that if something falls through, youíll be able to back out of the deal without a penalty.


Donít Go Credit Happy


Once your offer is accepted and your financing is in place, donít head out to buy tons of new furniture and appliances for your new home. Your credit matters until you get the keys to the house. Opening new credit cards or adding significant debt can affect your credit score negatively, possibly putting a damper on your home purchase. Hold off on making purchases until after you move into the house.    





Tags: Buying a home  
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Posted by Jennifer Santosuosso on 9/9/2018

Everyone knows it's a bad idea to go grocery shopping when you're hungry, but we all do it occasionally!

Going to the supermarket on an empty stomach not only causes you to spend more, but it weakens your resolve to avoid foods with empty calories and unhealthy ingredients. When hunger pangs undermine your self discipline, you may also be more likely to buy a jumbo bag of potato chips, pick up a block of cheese and some crackers along the way, and maybe order a pound of Genoa salami while at the deli counter.

Then, of course, there are all those chocolatey temptations at the checkout counter -- peanut butter cups, for example! Maybe you're stronger willed than that, but I know plenty of people who are not!

Although I haven't read any scientific studies on the topic, I'd make an educated guess that when you go grocery shopping hungry, there's a tendency to buy more food than you ordinarily would -- probably to compensate for your hunger. So perhaps having a healthy snack first or going grocery shopping after breakfast or lunch would be a good strategy for avoiding the pitfalls of food shopping on an empty stomach.

Here are a few more ideas for saving money and limiting junk food purchases:

  • Create a grocery list and stick to it! That's often easier said than done, but it can make a big difference in the quantity and quality of food you buy. Impulse purchases may provide immediate gratification, but they can wreak havoc on your waistline and your budget.
  • Avoid bringing your children grocery shopping, whenever possible. When childcare is not available, there's no way around it. However, with kids in tow, expect to be buying "a few" additional items that you hadn't planned on. Try as we might to resist the requests, suggestions, and demands our kids make at the grocery store, it's not unusual for a parent's resolve to weaken -- especially if they happen to be tired or stressed out. A lot depends on the age of your children, how persistent they are, and whether they're hungry when you're out food shopping. Many factors come into play!
  • Using coupons and taking advantage of discounts, special promotions, and two-for-one sales can noticeably reduce your grocery bill and, consequently, leave more money in your wallet. It may require that you pore over weekly newspaper inserts, clip coupons, and keep them organized, but getting in that habit can help reduce the strain on your household budget. It also pays to shop at supermarkets that offer double coupons. They're often the ones that are the most competitive and willing to help you stretch your dollar.

So if you've been noticing more junk food appearing in your kitchen cabinets, and your grocery bill seems to be taking on a life of its own, consider some of these economical ideas to help reign things in.





Posted by Jennifer Santosuosso on 9/2/2018

If you're on the fence about whether to attend an open house, there is no need to worry. Ultimately, it is always better to err on the side of caution, especially if you're on the hunt for your dream home. And if you attend an open house, you may be better equipped than ever before to determine whether a particular residence is right for you.

There are many reasons why you should attend an open house, and these include:

1. You can assess a house both inside and out.

An open house provides a stress-free opportunity to walk through a house and examine it on your own. As such, an open house is a can't-miss event, particularly for a homebuyer who is actively seeking the perfect residence.

Of course, an open house enables you to learn about a home's condition both inside and out. And if you find that you like a home after you attend an open house, you can always set up a one-on-one home showing with a seller's agent or submit an offer to purchase.

2. You can envision what life may be life if you purchase a particular home.

It's one thing to look at pictures of a home and imagine what it would be like to live there. However, homebuyers who want to do everything possible to find the right residence should attend an open house to fully capture what it may be like if they purchase a particular residence.

Remember, how a home makes you feel can have far-flung effects on your decision about whether to submit an offer. And if you attend an open house, you may quickly discover whether you can picture yourself as the owner of a residence. Or, if you find that you are uncomfortable with a home, you can instantly move on and pursue other houses.

3. You can obtain home insights that you won't necessarily find in a house listing.

A home listing often contains details about a home's age, recent house upgrades and other pertinent information. But a home listing alone rarely provides you with all of the insights you need to make an informed decision about whether to submit a homebuying proposal.

During an open house, you can ask a seller's agent lots of questions about a residence. This will enable you to obtain insights that you otherwise may struggle to discover in a home listing. And as a result, you'll be able to make the best-possible decision about how to proceed with a residence.

Clearly, there are many reasons to consider attending an open house. If you need extra help as you pursue residences and debate whether to attend open houses, you may want to hire a real estate agent. This housing market professional can offer expert guidance throughout the homebuying journey. By doing so, a real estate agent will make it easy for you to find your ideal residence in no time at all.




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Posted by Jennifer Santosuosso on 8/26/2018

As incredible the act of purchasing a home is, many buyers end up regretting their purchase. Thereís a variety of reasons for this. It all comes down to being ill-informed about buying a home and the type of home needed for the most liable situation. Read on to find out some of the biggest regrets home buyers face and how to avoid them. 


Buying Too Small Of A Home


The most prominent regret that many buyers face is not buying a larger property. Many people want to live in a specific location or type of home that they overlook the size altogether. One reason that people end up buying a home thatís the wrong size is that they rush to find a property in a particular area. If you branch out on your search, youíll have a better shot at finding the right size home. The area might not matter as much as the space youíre living in, s keep that in mind. 


Not Doing Your Research


People tend to skip out on the research phase of buying a home. Itís critical that buyers understand things like mortgage rates, fees, credit reports, how much needs to be saved, and more. There are so many things that go into buying a home that you could easily miss out on something if you donít know what youíre in for ahead of time.


Not Saving Enough


Your home will be one of the largest purchases you make in your entire life. There is a lot more to the cost than just the monthly mortgage payment. Youíll need a lot of money upfront when you buy a home including a downpayment along with other closing costs and fees. Plus, youíll need to set some money aside for any repairs or replacements you need to do in the home once you move in. Itís also a good idea to have an emergency fund available just in case. Life happens, and you donít want your savings to be depleted because you bought a house. 


Keep in mind that the bigger of a downpayment you make, the better off youíll be. Even if you can buy a home with a low downpayment, you want to put down as much as possible. A higher downpayment will keep your mortgage payments lower, get you a better rate, and you may even be able to avoid paying for PMI (private mortgage insurance.) Aim to save a 20 percent down payment for the most optimal mortgage situation.      

   




Tags: Buying a home  
Categories: Uncategorized  


Posted by Jennifer Santosuosso on 8/19/2018

If youíre buying a home for the first time, you have a lot to learn. There are so many decisions that need to be made and new terms to be understood. While you may have been saving up for a downpayment, youíre most likely going to need t finance the majority of the cost of your home. Knowing how to deal with lenders, real estate agents, and other professionals involved in the process of purchasing a home will make your life that much more straightforward. Read on for some mortgage tips that every first-time home buyer should understand.


Know Your Budget


You may find when you apply for a mortgage that youíre able to finance more than you thought you could. Being able to borrow such a significant amount is where many home buyers get caught in a numbers trap. Although the bank may be willing to loan you a certain amount, you might not actually be able to afford it. While the bank looks at many of your financial numbers, the bank doesnít know your entire budget. How much you spend on groceries each month or the cost of your monthly phone bill are out of the picture when the mortgage company approves you for a loan. Whatever amount of money you borrow to buy your house will result in a monthly payment amount. If youíre only paying $800 per month in rent but your mortgage payment will be $1400, that will result in a significant budget adjustment. Will you be able to come up with the additional $600 each month to pay the mortgage? You need to look at your entire budget seriously to be safe in your mortgage transaction. 


Plan For Out Of Pocket Expenses


You know that you need to save for a downpayment on the home of your dreams. What you may not know is that there are many other out of pocket expenses that you need to foot the bill for when you buy a home. These costs include:


Inspection

Legal fees

Insurance

Pizza for the people who help you move

Repairs to the home

Utility costs


There are so many expenses that you need to come up with when you buy a home. Donít merely save enough for your down payment and stop. Make sure you have a financial cushion for emergencies, money to help furnish the house, and more. 


Mind Your Credit


When you buy a new home, it may be tempting to buy new furniture, decor, or other items for your property. Hold off on opening any new credit or making large purchases. While a new car will look great in your new driveway, it wonít look so good on your credit score. Be very mindful of your credit score when you are getting ready to buy a home.  





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