The Best of Both Worlds: Why You Should Call Davenport and ChampionsGate Home
If you’ve been house hunting in Central Florida lately, you know the market is moving fast. But there’s a reason why the Davenport and ChampionsGate area remains one of the most sought-after zip codes in the Sunshine State.
Whether you’re a local looking to upgrade or a transplant seeking the Florida sun, here is why this area should be at the top of your list.
1. The “Backyard to the Mouse” Advantage
Let’s state the obvious: Location is everything. Living in Davenport means you are often just a 15-to-20-minute drive from the gates of Walt Disney World. You get to enjoy the fireworks from your driveway without having to deal with the primary tourist traffic of International Drive. For Disney fans and hospitality professionals, it’s a logistical dream.
2. Resort-Style Living Every Single Day
ChampionsGate isn’t just a neighborhood; it’s a lifestyle. Known for its world-class golf courses designed by Greg Norman, the area feels like a permanent vacation. Many communities here feature:
Lazy rivers and splash pads
Luxury clubhouses and fitness centers
Meticulously manicured streetscapes
When you move here, you aren’t just buying a house; you’re buying a pass to a resort lifestyle that most people only get to experience for one week a year.
3. More Square Footage for Your Dollar
Compared to the skyrocketing prices in downtown Orlando or Winter Garden, Davenport offers incredible value. You can often find newer construction with modern open floor plans, larger lots, and high-end finishes for a fraction of the price of neighboring cities. Whether it’s your first home or your “forever” home, your budget simply goes further here.
4. The Hub of Convenience: Posner Park & Beyond
Gone are the days when Davenport was “out in the sticks.” With the massive expansion of Posner Park, residents have access to major retailers (Target, Dick’s Sporting Goods, Best Buy), a luxury IMAX cinema, and a growing list of dining options. Plus, you’re positioned right along I-4, giving you a straight shot to both the Atlantic beaches and the Gulf Coast.
5. A Smart Investment
Because of its proximity to the theme parks, Davenport is a powerhouse for real estate value. Whether you plan to live in the home full-time or eventually use it as a short-term rental property, the demand for this area stays consistently high. It’s a “buy-and-hold” paradise.
Ready to Make the Move?
Transitioning to a new area is a big deal, and you deserve a local expert who knows the difference between every subdivision from Loughman to West Haven.
At Coldwell Banker Richwill Realty, we don’t just sell houses; we help you find your place in the community. If you’re curious about what’s currently on the market in Davenport or ChampionsGate, let’s chat.
Designing your home is an exciting endeavor, and a major part of the process involves choosing colors and patterns that reflect your personal style while creating the desired atmosphere.
Author: Carma Stahnke
At the same time, too much “boldness” can result in spaces that feel cluttered and chaotic. The good news is that by following these steps, you can incorporate vibrant hues and eye-catching motifs without going overboard.
1. Start With a Neutral Base
A great way to create symmetry in your home is to begin with a neutral palette. Whites, creams, grays and beiges serve as a calm foundation that allows colorful accents to stand out without dominating the space. A neutral-colored sofa or walls can act as a backdrop for bright throw pillows, rugs or curtains in more daring colors or styles.
2. Make Sure Your Color Scheme Flows
One of the most important aspects of interior design is making sure colors flow from room to room, ensuring a sense of cohesion. While you don’t want every space to look identical, using a consistent color palette throughout can enhance visual interest and a sense of unity. If you’re using different patterns or colors in each room, make sure they share at least one common color.
3. Pair Patterns With Solids
The trick to adding personality and visual interest is to coordinate intricate pieces with solid-colored items to give the eye a place to rest. If you’re using a bold geometric print on a rug or throw blanket, pair it with solid-colored furniture or pillows. You should also consider size and scale. If you have a dominating design on your curtains or sofa, go for smaller, subtler patterns for the other elements.
4. Limit the Number of Bold Statements
Too much design can overwhelm a space, so you should focus on mixing a few well-chosen prints and dispersing them with solid or lightly ornamented elements. A room with a plaid rug, a floral throw pillow and striped curtains can quickly become too busy. Try to stick with two to three designs at most.
5. Don’t Forget About Texture
While visual appeal is important, texture plays an equally vital role in creating a well-proportioned space. Using soft velvet cushions, woven baskets or a woolen throw adds depth to your room without the need for extra ornamentation. Incorporating natural materials like wood, stone or linen can also ground more vibrant decor, making the space feel cozy and inviting.
6. Test Elements in Small Doses
If you’re unsure about how a color or pattern will work in your space, start by trying it out in smaller areas. You can experiment with paint samples on a single wall, a bold rug or flashy artwork. Once you feel confident that the new addition complements the space, you can gradually introduce it on a larger scale.
7. Know When to Keep It Simple
If you find yourself drawn to vibrant hues and intricate patterns but worry they may overwhelm the space, consider creating a focal point rather than filling the entire room with bold choices. A feature wall or a striking piece of art can be the star of the room, with the rest of the space kept minimalistic to allow that one element to shine.
Using colors and patterns thoughtfully is about creating balance, harmony and a cohesive look that feels good to live in. By being strategic, you can embrace your unique style and personality while enjoying the beauty and impact of adventurous, forward-thinking design.
The heart of your home is undoubtedly the kitchen. Not only is it a space where cherished memories are made through family meals and gatherings, but a modern kitchen also transcends mere functionality – it’s a place where you can truly create something exceptional.
Amid remodeling endeavors, kitchens unquestionably take precedence. Kitchens are crucial to Americans, who spend a lot of money on them to show how much they value their homes. Consider these five crucial factors before starting your transformative journey to ensure success.
1. Begin with a Comprehensive Plan
Effectively executed projects invariably commence with meticulous planning. To set the stage, clearly define your budget – thoughtfully consider how much you can realistically allocate for this ambitious endeavor. Outline the necessary appliances and fixtures, estimating their associated costs upfront. Choosing fixtures early helps with cost estimates and sticking to your budget. Avoid scheduling big events right after the remodel in case there are unexpected delays.
A comprehensive plan should also extend its purview to encompass external factors, including:
Project duration and the potential inconveniences it might pose
Thoughtful arrangements for temporary living accommodations during the renovation period
Addressing these pertinent inquiries in advance will undoubtedly pave the way for a smoother, more harmonious remodeling process.
2. Embrace Intelligent Technology
In the contemporary age of smart homes, technology assumes an integral role in enhancing convenience and elevating experiences. Make sure to seamlessly integrate high-tech appliances into your kitchen remodel for a functional and aesthetic upgrade. Touch-activated faucets and smart trash cans, for instance, not only simplify tasks but also cater to the needs of those who might have their hands full. What’s more, many appliances now boast Bluetooth connectivity, affording the luxury of remote control. Touchscreen refrigerators can adjust temperature, control ice maker, and display family calendars.
Don’t overlook the potential of incorporating hands-free personal assistants like Alexa or Google Home, which can act as indispensable aids in your culinary endeavors. Work with your electrician to add outlets and USB ports in your kitchen for easy device use while cooking and socializing.
3. Select Appropriate Appliances
While aesthetic considerations are undoubtedly important, the principle of functionality should invariably take precedence when selecting appliances. Opt for appliances that seamlessly align with your family’s specific needs and routines. It’s worth noting that commercial-grade appliances might be excessive for daily use in a residential setting. Prioritize reputable brands that have garnered a reputation for their commitment to quality and safety. Equally important is the careful consideration of how these appliances fit within the broader dimensions and design of your kitchen space.
4. Enhance Accessibility
Elevate the functionality of your kitchen by transforming it into an inclusive haven that warmly welcomes individuals of all backgrounds and abilities. Enhance layouts for unobstructed movement during redesign. Make sure to create wide walkways for both your family and guests, including those with strollers or wheelchairs. Create a functional cooking area that’s separate from social zones if you want to host gatherings. Furthermore, ensuring that all users, regardless of their physical abilities, can effortlessly access appliances should be a fundamental consideration. Integrate thoughtful seating options that accommodate preparatory work with equal measures of comfort and accessibility.
5. Illuminate and Harmonize
Give free rein to your creativity by thoughtfully exploring the potential of lighting and color to imbue your kitchen with a distinct personality. The roles played by lighting and color in shaping our perceptions of space are undeniable. Opt for light hues and delicate pastels in smaller kitchens, strategically sidestepping darker shades that might inadvertently impart a sense of confinement. To maintain a sense of coherence, consider a more limited palette of colors, thereby mitigating the risk of overwhelming visual clutter. Bold, vivid tones can be judiciously employed as accents, infusing your kitchen with bursts of vibrant energy.
In your quest to harness the power of natural light, seek ways to seamlessly complement it with strategically positioned wall sconces or pendant fixtures, guaranteeing a welcoming ambiance even during the evening hours. Moreover, the importance of establishing a harmonious equilibrium between the colors of your flooring, countertops, and cabinetry cannot be overstated. A meticulously curated color scheme ties the aesthetic narrative of your kitchen together in a seamless and enchanting manner.
Elevate Your Kitchen’s Essence
Through a skillfully orchestrated kitchen remodeling endeavor, your kitchen’s essence can undoubtedly transcend its utilitarian role, effortlessly metamorphosing into a sanctuary that encapsulates shared memories and transformative experiences. When contemplating the profound journey of remodeling, invest in the careful craft of meticulous planning, seamlessly integrate the wonders of cutting-edge technology, thoughtfully select appliances that enhance functionality, zealously champion the cause of accessibility, and artfully curate a symphony of lighting and color that resonates with the soul of your space. By intently addressing these pivotal facets, you’ll undoubtedly materialize a kitchen that exudes both warmth and functionality in sublime equilibrium.
Looking to enhance your home’s value? Whether you’re eyeing a near-future sale or aiming to leave a lasting legacy, a crucial question emerges: Which renovations yield the most value relative to their costs? Certain renovations outshine others in terms of elevating your home’s worth, a vital consideration if you intend to sell down the road.
Of course, renovation motivations vary. Their significance can factor into appraisals during mortgage or refinancing evaluations. Alternatively, they can boost your home’s comfort and enjoyment factor, becoming satisfying projects for leisure. But for now, let’s delve into the premier home renovations solely based on their value.
Expert Insights: Better Homes & Gardens highlights a report from the National Association of the Remodeling Industry, where realtors’ pre-and-post renovation estimates indicate that over 80% of HVAC upgrade expenses can be recouped upon sale, while bathroom and kitchen remodels return over half of their costs.
Bankrate, drawing from Remodeling Magazine’s Cost Versus Value Report, unveils average estimated cost returns for various renovations in US sales. Garage door replacement and stone siding yield above 90%, minor kitchen remodels hover above 70%, fiber-cement or vinyl siding approaches 70%, and wood or composite decks exceed 60%.
In recent years, “creating a home sanctuary” has become the paramount reason for renovations, as HomeLight suggests. This could involve upgrading leisure spaces or crafting the perfect telework home office. Pre-sale average ROI rates stand above 90% for new decks, above 70% for converted “specialty rooms,” and above 60% for in-ground pools, kitchen islands, and walk-in pantries. Desired renovations extend to device charging stations, concealed home offices, hot tubs, in-law suites, laundry rooms, enhanced natural lighting, outdoor lighting, privacy hedges, increased storage, and walkways.
Top 5 Home Renovation Types:
1. Exterior Enhancement
Boosting curb appeal is crucial, and realtors concur by recommending basic lawn care and beautification prior to selling. This includes adding flowers, repairing pathways, trimming grass, rectifying doors and windows, painting exteriors, eliminating weeds, and applying garden mulch.
Entrance points, like entryways and garage doors, significantly impact a home’s value, particularly for bolstering security. Faulty doors that impede ease of use waste time and become daily annoyances, necessitating prompt repair.
Stained wooden shingles exude rustic charm, while stone siding emanates strength. Brick and stone are renowned for insulating during winter and insulating during summer. Traditional wood siding suits homes that undergo frequent paint color changes for a fresh look.
2. System Upgrades
3. Though often unseen, heating, ventilation, and AC systems are crucial for optimal functioning. Updated HVAC systems are a compelling selling point. Prospective buyers of all ages shun the prospect of dealing with malfunctioning HVAC systems, making regular maintenance a must.
Increased illumination within a home is equally essential. Bright, cheerful, well-lit homes command higher prices, even if subsequent occupants leave lights off. Modern touches like automatic lighting, dimming options, and soft illumination can add appeal.
3. Minor Remodeling
Kitchens, as family focal points, warrant attention during sales. Center islands enhance flow and counter space, while additional cupboard or pantry room aids organization. Desired upgrades encompass energy-efficient appliances, accessible cabinets, pristine counters, flooring, and improved ventilation.
Bathrooms mirror kitchens in their impact on value, benefitting from aesthetics and modern amenities. Opt for surfaces that are easy to clean and visually pleasing. Dual sinks elevate shared bathrooms’ appeal and functionality. Simple changes, like exchanging a builder-grade mirror for a decorative-framed one, rejuvenate outdated bathrooms.
A dedicated high-tech home theater and serene relaxation space sway potential buyers. Explore enhancements like bug screens, wood-fired pizza ovens, or compact outdoor appliances to transform outdoor patios with panoramic views.
4. Major Construction
In a home-centric era, increased square footage heightens value due to extended time spent indoors. Expanding high-value rooms like bathrooms and bedrooms, or adding exterior, basement, or attic rooms, is a surefire value booster. Even introducing a half-bath to homes with a single bathroom and available space near a water line can significantly elevate value.
Unfinished spaces offer potential. Converting certain porches into rooms with minimal partitioning and heating can create additional livable square footage and boost property value. If resources permit, consider a deck, remembering that wood entails higher maintenance costs compared to long-lasting composite materials.
5. Physical Accessibility
AARP data shows that 77% of adults aged 50 and above seek to remain in their homes long-term. Future-oriented planning is crucial. Depending on your home and personal needs, exploring enhanced accessibility might be worthwhile. Single-level homes offer optimal canvases for such renovations. A walk-in shower in at least one bathroom, as opposed to a bathtub, caters to those with mobility challenges. Simplified entries and smooth interior flooring cater to accessibility needs.
Ready to Begin Renovating? When entertaining a home remodeling notion, consider whether the change’s value will outweigh the costs. An in-home pool may be appealing, but long-term maintenance costs must be feasible. Expanding patios, decks, or revamping bathrooms or kitchens can entail substantial expenses. Estimate labor and material costs before proceeding, comparing them to the anticipated value enhancement, whether for personal use or future sales.
Keep in mind that material costs can evolve, impacting renovation expenditures. Currently, wood prices are elevated, prompting exploration of alternative materials. While a full return on investment might not be guaranteed, the average return exceeds half, particularly in regions where such changes are in demand. Consult local realtors to discern value-driving factors in your area, or assess factors that could heighten your living experience.
Coldwell Banker Richwill Realty is dedicated to aiding your pursuit of the American Dream, be it purchasing or selling a home. Join us for invaluable advice, tips, and trends in the realm of home buying and selling!
While it’s tempting to go all out with leafy and pumpkin decorations for your house, there are several practical home improvements worth considering this autumn. Whether you’re getting ready to sell or rent your home or simply aiming to create a more comfortable living space, the following suggestions are tailored for you. Continue reading to discover five effective ways to ready your home for the upcoming fall and winter seasons.
Our Favorite Home Projects
Enhance Your Home’s Indoor Atmosphere
As we approach the colder months, be prepared to spend more time indoors. To get your home autumn-ready, sprucing up its interior can significantly enhance your indoor experience. Consider engaging a professional carpet cleaning service, especially if you want to make your indoor time cozier. While routine vacuuming and DIY carpet care help, a professional cleaning offers a thorough cleanse, recommended at least once a year (more often in high-traffic areas or homes with pets/children). Fall also presents an excellent opportunity to refresh your home’s interior paint.
Get Ready for Chilly Weather
Make sure your home is well-prepared for the impending cold weather. It might be time for an HVAC service or tune-up to ensure your heating system is functioning optimally. Many homeowners opt for smart thermostats like the Google Nest in anticipation of fall and winter. These thermostats allow you to save on energy costs by establishing a heating or cooling schedule. Any preparations made now will contribute to a warm and snug environment throughout fall and winter.
Create Cozy Fires
If your residence includes a fireplace, now is the ideal moment to have it professionally serviced. Your chimney and fireplace should undergo a thorough cleaning at least once annually, and fall is the opportune time to do so before the cold sets in. Alternatively, consider adding an outdoor firepit to extend your time spent outside during autumn. Numerous electric firepits offer convenience and lower maintenance compared to traditional ones. There’s nothing quite like the ambiance of a warm fire accompanied by a cup of hot apple cider during fall.
Trim Foliage
Our primary home project for outdoors is: foliage. Don’t neglect the exterior of your home this fall! Prior to the onset of autumn, think about enlisting the services of professional landscapers to spruce up your front yard. Overgrown trees, bushes, and shrubs can pose risks to your home during fall storms. Not only will this improve your home’s curb appeal, but it’s also a chance to incorporate charming fall decor to your patio and exterior.
Refresh Your Home’s Exterior Paint
If you’ve been contemplating a fresh coat of paint for your home, autumn presents an ideal window to proceed. Summer humidity can lead to paint becoming runny, whereas fall’s cooler temperatures and lower humidity levels offer perfect painting conditions. A new paint job can significantly enhance your home’s value, particularly if you have plans to sell or rent it in the near future.
Getting Ready for Autumn
Just like the concept of spring cleaning, preparing your home for fall is a necessary task for every homeowner. Consider these five home projects to be ready both on the inside and outside of your residence for a delightful and snug autumn season.
This was originally posted on Coldwell Banker Elite.
Ever wonder why some homes sell faster than others? There are plenty of examples of similarly priced homes that had drastically different days on market! Here are our 5 best tips to sell your house fast:
1. Clean It Up
There’s no beating around the bush, the house needs to be clean. If you’re not sure if your house is passably clean, get a friend to give you an honest opinion or just hire a cleaning service.
Before taking listing photos, it’s ideal to declutter and deep clean your house. Don’t make potential buyers have to imagine what the house might look like tidied up–get rid of clutter both inside and outside the house and put some elbow grease into making the place sparkle! You should wipe down cabinets and drawers, remove any scuffs from the walls, and polish kitchen appliances. Shampooing your carpets or mopping the floors can make a big difference!
2. Consider Staging
Take a look at some of the other homes for sale in your area. Some of them will be vacant, some will still have the seller’s furniture and some may be professionally staged. Which looks more appealing to you? Staging is an extra expense but for many sellers it is worth the trouble! You can cut down on staging costs if the home is only staged for the listing pictures. If you’re really pressed for time or can’t afford to hire a staging company, focus on staging the bedrooms and living rooms, adding art pieces strategically to make the home feel more comfortable.
3. Professional Listing Photos
Dimly lit iPhone pictures aren’t going to cut it nowadays! The pros know the best ways to frame and shoot various rooms and can adjust for non-optimal lighting situations. Professional photographers will also have wide-angle lenses to fit the entire room in the photo and video and drone capabilities if your home requires them. Your CBE agent will know several great real estate photographers who can make your home look amazing!
4. Make It Available
Once your home is on the market, get ready to spend a lot of time away from your home so buyers and real estate agents can view the property comfortably without you or your pets lurking around. For at least the first week or so that the home is on the market, it’s best to accept all showings within normal viewing hours and to make the home as accessible as possible.
5. Price It Right
Buyers are mostly concerned with their bottom line. Pricing the home appropriately from the beginning will drastically cut down on days on market and help you capitalize on the initial buzz from potential buyers. Your Coldwell Banker Richwill agent can help you decide on the right price for your home by looking at a variety of factors: your house’s age, any updates, square footage, and the school district. They can also pull up comparable homes, or “comps,” that have sold in the area to evaluate the best price.
The Bottom Line
To sell your house fast, you can follow this guideline of key points to really speed up the process.
This was originally posted on Coldwell Banker Elite.
Having your belongings moved from one location to another is without a doubt one of the most stressful things you can go through. Just about a million and a half things can go wrong at any point in time. However, with the right planning and preparations, you can help avoid some of these common moving mishaps and help your moving day go smoothly overall.
Picking Your Moving Day
Finding the right day to move is more than finding a free space on your calendar. As it turns out, the right day can mean less traffic in your movers’ way. Picking the right moving date can even save you a little money if you play your cards right.
Furthermore, the highest moving volume occurs between Memorial Day and Labor Day in the United States. According to simple laws of supply and demand, moving rates cost more during this time. The best times to move are going to be immediately before and immediately after these holidays when the weather is comfortable, but not too hot. Block out time in either May or late September/early October to get the best rates.
Picking a day in the middle of the week also helps guarantee the best movers are available. More people try to fit their moving needs into the weekend, bottlenecking a moving company’s resources. Take advantage of other people’s carelessness and pick a day between Monday and Thursday when you will be a priority.
A common moving mishap is not taking a few days off to move. It doesn’t just give you the freedom to get the best services, but offers some buffer time for you and your family to adjust to the move. You can explore your new neighborhood and take advantage of the time to bond as a family.
Staying Organized
Even if your movers are going to do your packing for you, it’s a good idea to do a little pre-organization so you have some idea of where everything is. A great idea is hiring a professional organizer to go through your home before the move and start cleaning out the unessential items your family has lying around. Having less clutter around means you will have a better idea of what you decide to keep and what goes between the move. Plus, it’s a trendy and very Marie Kondo thing to do!
Once you’ve reduced your belongings down to the essentials, talk with your moving company about how you expect your items to be packed and cared for throughout the process. Ask them about their standard procedures for handling delicate items, including antiques and other valuables. Clearly explain your expectations regarding the move, and get the names of all the movers that will be working in your home.
When it comes to really expensive and sentimental items like jewelry, plan to move them yourself. Place them in a portable safe along with any important papers you would also like to protect. However, if you have insurance policies for your items, don’t keep that documentation with them. Have a lawyer or family member hold on to them for safe keeping while you go through your move.
Make sure they clearly labeled all the boxes with the rooms in which the items they contain belong. Be sure to label each box with the name of the room it belongs in, avoiding general terms like “kid’s room”. Make sure the name of the child is included so they know in which child’s room the box goes. This helps keep things organized and makes unpacking much easier overall.
***
Common Moving Mishaps
Moving is undoubtedly stressful, but the right preparations can make it easier. When picking your moving day, take some time off for the family in the months before or after summer when rates are low. Have some extra buffer time to make sure the adjustment goes smoothly for everyone. When it comes to organization, a good cleanout can make all the difference before it is time to pack. Communicate with your movers about how to handle delicate and valuable items, and make sure everything is clearly labeled to make unpacking the house easier for all.
This was originally posted on Coldwell Banker Elite.
You’ve spent months looking and finally settled on the house of your dreams. The seller even accepted your offer! Congrats! It’s not quite time to break out the bubbly yet, though! So many home buyers and sellers have questions about the home buying appraisal process, we wanted to make sure we addressed it on our blog! For more tips on how to buy your first home, click here!
What’s an Appraisal?
The appraisal is basically your lender making sure that the home is worth what you’re offering (in case they need to get their money back!) The lender uses an unbiased third-party to examine the home and any improvements the seller has made, as well as how it compares with similar properties that have sold in your area within the past six months.
What Does It Involve?
Appraisers take quite a few details into account when determining their valuation of your dream home! They’ll be looking very closely at the square footage, condition of the home, any improvements the seller has made, and any factors that might negatively affect the home’s value. They’re not home inspectors, so they won’t be looking over every little detail—they’re just getting a general idea of what the home’s worth.
What Happens Next?
You will receive a copy of the report once the appraiser completes their work. The fee for the home buying appraisal is typically included in your closing costs—around $300 to $400. If the appraised value is higher than your sales price, you’re in the clear! You’ll have instant equity in the home, and your lender will feel confident in loaning you the money needed to purchase it. It’s when the appraised value comes in lower than the sales price that you’ll run into trouble. The lender won’t pony up more than the home is worth, so the seller either has to lower the sales price, or the buyer needs to come up with the remainder out of pocket.
If lowering the price or coughing up the difference won’t work, it’s not the end of the world! You can choose to walk away from the contract and have your earnest money deposit returned or even pay for another appraisal. Keep in mind: not being able to buy your “dream house” because of a low appraisal is actually a good thing—you won’t be overpaying for a house that’s not worth it!
This was originally posted on Coldwell Banker Elite.
So you’re finally ready to buy your own home, congrats! It’s a big decision that can really impact your life and your finances. Here are our top five things to do before you take the leap to make sure you’re completely prepared!
Strengthen your credit score
Don’t know your credit score? If you’re thinking about buying a home in the near future—it’s time to find out! Try CreditKarma or any of the free credit reports to see what you may need to work on or if you’re in good shape! The better your credit score, the less you’ll need to pay for your home loan. The quickest way to improve your score is to pay down any credit card balances! You’ll also want to avoid applying for credit, for example, opening a new credit card or getting a car loan, until after you’ve closed on your new home!
Figure out what you can afford
Now’s the time to face the facts and be realistic. What’s your actual budget for purchasing a home? Conventional wisdom says that home expenses should only take up around 30-33% of your income each year. What will your monthly mortgage payment be, including interest, mortgage insurance and any HOA fees? An easy way to figure out what you can afford is by using Zillow’s Mortgage Calculator—easily adjust your purchase price vs down payment and see how it can affect your monthly payment. You’ll also want to set aside an emergency fund for unexpected repairs—especially during your first year! Once you’ve figured out what price range you can comfortably afford, stick to only looking at homes in that range.
Research different neighborhoods
You know your desired price range and what kind of home you’re looking for—now ’s the time to do your homework! Different areas and neighborhoods have their own character, benefits and drawbacks—consult your Realtor, websites like Niche, Crimemapping and Yelp, and if possible, drive through any neighborhoods you’re seriously considering at various times of day to really get a feel for them.
Save up
Keep in mind that the down payment is only one part of the costs you’ll need to pay upfront. Once you cough up that 10% down payment, you’ll still need to pay for any closing costs, necessary inspections, repairs or maintenance costs, the first few months of mortgage and insurance payments, and any moving costs. Closing costs can run anywhere from 2-5% of the asking price while typical home inspections are around $350-500. That’s on top of your down payment! With all that in mind, is your dream home still within your housing budget of 30-33% of your yearly income?
Connect with a lender
An experienced loan officer can be a huge help during your preparation period! They’ll help you figure out what loan product will be best for you and what you can do to improve your credit. Your CBE agent can recommend plenty of ed and once you’ve got your pre-approval letter, you’re ready to tour homes and make an offer!
Buying a home (whether it’s your first or not!) is an exciting experience and can be immensely rewarding! All of us at CBE wish you the best of luck finding your dream home–don’t hesitate to reach out if you need help along the way!
Thinking about skipping the home inspection in order to save a little money? You could end up costing yourself WAY more in the long run! Here’s why we always recommend buyers get a very thorough home inspection done:
Protect Your Investment
Buying a house is probably the single largest investment you’ll ever make and throughout the transaction, we’ll work to ensure you’re getting the best value for your money. A licensed home inspector can help you make sure that your investment is secure and safe.
A professional Home Inspector takes a close look beneath a house’s surface, and then prepares a detailed written report for the prospective buyer on things like the condition of the foundation, electrical service, roof, insulation, and other critical structural factors. We know several experienced and trusted Home Inspectors that are familiar with the local area and can help connect you with them when the time comes.
Are They Worth It?
Although costs will vary, you can probably expect to spend $200-500 for an inspection of a single family home. And who pays for it? Well, since the benefit is almost entirely that of the home buyer, it’s usually the buyer who pays the cost of the home inspection–particularly in a hot real estate market, where the home sellers have more leverage.
All things considered, it’s a small price to pay for the peace of mind it provides, and the negotiating power it can give you–especially if it indicates that there are major repairs required, but you decide to make an offer anyway. With a small fee, home inspectors now offer a “re-inspection” service that allows you to verify whether they correctly repaired any items.
This is great to do during your final walkthrough for your own peace of mind.
When it comes to making your offer to purchase, our experienced agents can provide you with good advice on how to allow for a home inspection.
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