Joseph D. Federico's Blog
If possible, it helps to maintain a flexible deadline as you navigate the homebuying journey. Because if you have a tight deadline in place, you risk making a rash homebuying decision. And as a result, you may pay too much to acquire a home. Perhaps even worse, you risk purchasing a house that fails to match your expectations.
As you prepare to kick off your homebuying quest, it helps to plan ahead. Fortunately, there are lots of things you can do to streamline your home search and discover your ideal residence in no time at all.
Now, let's take a look at three tips to help you accelerate the homebuying journey.
1. Prepare Homebuying Criteria
If you know you want to buy a home, you should put together property buying criteria. That way, you can enter the housing market with a plan in hand to acquire your dream residence.
To establish homebuying criteria, think about where you want to reside. For instance, if you want a home close to parks and other family-friendly attractions, you should hone your house search accordingly. On the other hand, if you need a house that offers quick, easy access to family members, you should search for a home near these relatives.
Consider the features you want to find in your dream home, too. If you make a list of home must-haves, you can focus exclusively on houses that have the features you require.
2. Establish a Budget
Usually, it is beneficial to begin a home search with a mortgage at your disposal. If you get pre-approved for a mortgage, you will know how much you can spend on a house. Then, you can search for houses that won't force you to exceed your budget.
To obtain a mortgage, you should meet with a variety of banks and credit unions. These financial institutions can teach you everything you need to know about home financing. Plus, they can help you make an informed mortgage selection.
3. Hire a Real Estate Agent
With a real estate agent at your side, you should have no trouble performing a successful home search.
A real estate agent is devoted to homebuyers' success, and as such, will do what it takes to help you achieve your desired results. For instance, if you want to buy an affordable house in a small town, a real estate agent will make it simple for you to do just that. Or, if you want to purchase a home near your office in the city, a real estate agent will craft a custom homebuying plan so you can accomplish your goal.
Furthermore, a real estate agent takes the guesswork out of buying a house. If you ever have homebuying concerns or questions, a real estate agent will respond to them – without exception.
Want to enjoy a fast, stress-free homebuying experience? Take advantage of the aforementioned tips, and you may be better equipped than ever before to seamlessly navigate the homebuying journey.
Buying property can be fun, but it can also be exhausting. You want to find a place that fits your personal lifestyle and invest in a home that'll bring you years of happiness. As you're looking at shorefront real estate:
1. Understand Your Access Rights to the Water
On the surface, it may look like a no-brainer that you have access to the water, but many people learn the hard way that their beautiful waterfront views don't have easements that allow access to the lake, pond, or ocean. Most people don't want a beautiful view of the water without being able to use it.
2. Know Your Waterfront Buffer Zones
State and local regulations may prohibit your landscaping plans from making forward progress if you're too close to tidal waters. Know the buffer zones before you buy so you're not stuck with a landscape you don't love.
3. Learn Your Littoral Rights
If you purchase waterfront real estate, you may very well be granted littoral rights—that is, you'd have unrestricted rights to use that water as though it was land. The government may also own the water up to a certain point, so it's best to gain this knowledge up front.
4. Know if You have Riparian Rights
If you purchase a non-riparian waterfront property, you likely won't be able to have a private dock or pier on the water. Since this is one of the major reasons people want to own waterfront property, it's important to understand these rights before you buy.
5. Understand Your Obligations Regarding Water Depth
You don't have any control over Mother Nature, but you do often have certain obligations in terms of what you're permitted to do in certain water depths. You may need to build a deck farther out into the water than you'd first anticipated in order adhere to depth regulations.
6. Look at the Fixtures Surrounding the Property
Certain watercraft, such as sailboats, need far more clearance than others. If your potential property is directly next to fixed-height bridges that wouldn't enable you to enjoy leisure time on your sailboat, that may not be the best home for you. Alternatively, people who enjoy kayaking wouldn't need to be concerned with fixed-height structures. In fact, those areas might be best for this type of buyer.
7. Research Regulations Impacting Docks and Piers
It's not atypical to have to purchase pier permits. Depending on your location, these regulations may be governed by federal, state, or local institutions. It's best to have an idea of the cost before you get your heart set on a single property.
8. Include Flood Insurance in Your Monthly Costs
Natural disasters can bolster the cost of flood insurance. Even if you think you'll never need it, a waterfront property is always best protected when flood insurance is calculated into the cost.
9. Know How Secluded You Really Want to Be
Waterfront real estate is appealing because it's quiet and serene, but if this will be your year-round residence, make sure you've taken winter into consideration if you're looking for lakefront property where snowfall can change the landscape quickly. Super-secluded spots can make it difficult to get to the store when blizzards hit, so you may want to look for a place that has easy access to shopping. However, if you're willing to rough it, or if you'll only be using the property in the summer, seclusion is a great way to go! Of course, if you're looking for beachfront property in Florida, parts of California or the Carolinas, winters won't really be a concern you'll have to worry about.
10. Explore the Pros and Cons of Private Beaches Versus Public Shores
There are pros and cons to each. Make sure you have an idea what you're looking for before you and your real estate agent start house-hunting, but be open to possibilities if your real estate agent has a property they insist you must see.
As you're shopping for waterfront real estate, be sure to keep these tips in mind. The more you know, the more likely you'll be to find a home that makes you happy for many years to come. Contact me if you have questions about buying waterfront property!
Ready to purchase a home this fall? To land your dream house at a price that fits your budget, you'll want to know exactly what it takes to browse the real estate market in autumn.
Ultimately, securing a home in fall can be quick and simple, particularly for homebuyers who understand the ins and outs of the autumn housing market. Here are three tips that every homebuyer needs to know to find a house in fall:
1. Examine the Autumn Housing Market Closely
In many instances, a home seller may list a house at the beginning of summer in the hopes of a quick sale. However, a home seller who fails to generate significant interest in his or her residence may be more likely to lower the price of the house to sell the property in autumn.
Homebuyers who study the fall real estate market may be able to identify bargains. These homebuyers should look at factors such as how long a home has been available and the prices of comparable houses in a specific area and plan accordingly.
Furthermore, don't forget to consider your personal budget as you search for homes in autumn. By doing so, you can avoid the temptation to overspend on a residence.
2. Submit Competitive Offers
In fall, if you find a home that you like, you should submit a competitive offer. This may enable you to secure your dream home and accelerate the homebuying process.
Ideally, you should submit a data-based offer, i.e. a proposal that takes into account the current state of the real estate market and the condition of the home. With this proposal, you'll be able to minimize the risk that a home seller will decline your offer or submit a counter-offer.
Although a home may have lingered on the housing market throughout summer and into fall, there is no need to submit a "lowball" proposal, either. Remember, if you submit an offer that is well-below a home seller's asking price, you may miss out on the opportunity to purchase your dream home. But if you submit a competitive offer from the get-go, you can avoid this risk entirely.
3. Collaborate with an Experienced Real Estate Agent
For homebuyers who want to avoid stress as they explore the real estate market, there may be no better option than hiring an experienced real estate agent.
An experienced real estate agent will be happy to help you find your dream home in fall. This real estate professional can set up home showings, provide you with in-depth home listings and help you prepare to submit an offer on a home. Plus, your real estate agent knows how to handle tough negotiations and will work on your behalf to help you secure your dream home at the best price.
Employ an experienced real estate to help you go from homebuyer to homeowner this autumn. With a real estate professional at your side, you can accelerate the homebuying process.