Team Wheeler's Blog
118 Hollis St, Groton, MA 01450
The homebuying journey may prove to be long and complex, particularly for an individual who fails to plan ahead. Fortunately, there are lots of things that you can do to get ready to pursue your dream house, such as:
1. Make a Homebuying Budget
A homebuying budget will give you a good idea about how much money you have at your disposal to find your ideal residence. Thus, if you craft a homebuying budget, you can hone your house search to residences that fall within your price range.
As you craft a homebuying budget, you should consider both your house mortgage and closing costs. That way, you can prepare for myriad costs that you may encounter as you try to acquire your dream house.
You also may want to meet with various banks and credit unions. These financial institutions can help you budget for a home purchase. Perhaps best of all, they can help you get pre-approved for a mortgage.
2. Narrow Your Home Search
You know you want to purchase a house, but it usually is beneficial to understand what you want to find in your dream residence. If you put together a list of home must-haves and wants, you can narrow your house search accordingly.
Consider your short- and long-term aspirations prior to launching a home search. For instance, if you need a home that is close to your office in the city, you may want to check out residences in or near the city itself. On the other hand, if you aspire to own a residence that includes a state-of-the-art heating and cooling system, you should explore homes that offer this feature.
3. Hire a Real Estate Agent
A real estate agent is a must-hire, especially for an individual who wants to seamlessly navigate the homebuying journey. Because if you have a real estate agent at your side, you can take the guesswork out of finding and purchasing your dream residence.
Typically, a real estate agent learns about a buyer's goals and crafts a personalized homebuying strategy based on his or her aspirations. If you want to purchase a budget-friendly house as quickly as possible, for instance, a real estate agent will help you accomplish your goal. Conversely, if you are operating on a tight homebuying budget, a real estate agent will do everything possible to help you find a first-rate house that won't put you in the red.
Let's not forget about the homebuying expertise that a real estate agent possesses, either. A real estate agent understands all aspects of the homebuying journey and will share his or her industry insights with you. Therefore, if you ever have concerns or questions during the homebuying journey, a real estate agent will respond to them at your request.
Those who understand what to expect during the homebuying journey can boost the likelihood of finding a terrific house at an affordable price. Thanks to the aforementioned tips, you could reap the benefits of a successful home search.
For frequent hosts owning your own home is an exciting upgrade to your hospitality skill set. A home large enough to include a guest room for friends and family to stay the night allows you to provide a homey overnight stay that trumps a hotel experience every time.
To create the perfect home away from home guest room for visitors just follow this guide.
First things first, keep it tidy over time. Don’t fall to temptation and use it as a catch-all storage room. This will just lead to more clean up before guests arrive and detract from the home away from home experience if they feel like they are staying in a glorified storage closet.
Before guests arrive freshen up the room by dusting, cracking a window for fresh air, spritz linens with a spray, and vacuum the floors.
Stock your guest bathroom well with toilet paper, tissues, q-tips and cotton balls. Keep two full matching sets of towels folded up nicely and in the open for guests to easily grab. Take a page from the hotel room playbook and have decorative shelving for this very purpose. Either mount shelving to the wall or find a standalone unit that matches your decor.
Have toiletries on hand in case guests have forgotten any while packing. Include new, individually packaged toothbrushes, a tube of toothpaste and travel size deodorants for example. It is always thoughtful to stock the medicine cabinet with the basics.
Stock up on luxurious soaps, lotions, and shampoos to keep on hand in your guest bathroom. It’s best to also keep these out in the open so it is obvious to guests it is for their use. Tiered cake stands, catch-all bowls and clear jars are a great way to put these stylishly on display.
Offer the perfect sleeping experience by including a light bedding option and a warmer one - no matter the season. An ottoman at the foot of the bed with extra blankets and pillows will help guests feel at home to set up the bed their way.
Lay down on the bed to get a feel for how it would be for your guests. In fact, interacting in the room as if you are your guest is a great way to discover what your room is missing. Offer plenty of lighting. Bedside lamps in addition to the ceiling light allow guests to create ambiance or stay up reading while their partner snoozes.
Decorate the room to keep it cohesive with and as homey as the rest of the house. Hang pictures of friends and family. Frame a decorative image that has your wifi network and password readily available for guests to log in. Include fresh cut flowers and seasonal decor.
42 Heather Court, Nashua, NH 03062
If you’re planning on buying a home in the near future and are confused about many of the terms associated with mortgages, you’re not alone. Real estate is its own industry with its own set of processes, terms, and acronyms. If you’re new to the home buying process, there can be somewhat of a learning curve to understand what each of these terms means.
Since buying a home is such a huge investment and life decision, there’s a lot of pressure on home buyers to make sure they get everything right. This makes for a stressful situation for buyers who don’t feel like they understand the terminology of things like mortgages, appraisals, credit reports, and other factors that contribute to the home buying process.
To alleviate some of those concerns and to make the home buying process run more smoothly, we’ve compiled a list of the most common, and most commonly confused, real estate words, terms, and acronyms. That way, when you’re talking things over with your real estate agent or your mortgage lender, you’ll be confident that you understand exactly what’s being considered.
Read on for our real estate terminology glossary.
Adjustable rate mortgage (ARM) - This is one type of home loan. Mortgage rates with this type of loan fluctuate throughout the repayment term of the loan. The fluctuation is based on a market indicator.
Fixed rate mortgage (FRM) - Another type of home loan, a fixed rate mortgage has a rate which does not fluctuate, remaining constant for the life of the term, most commonly 15 or 30 years.
Appraisal - An appraisal is the determination of the value of a property. Appraisals are used when purchasing and selling a home, as well as when refinancing a home loan. Appraisers are required to be licensed or certified in each state and are usually paid for by the lender.
Appreciation - An increase in a property’s value, most commonly due to market inflation, or the general increase in home prices over time.
Depreciation - A decrease in a property’s value, due to either market deflation (uncommon) or the wear and tear on a home that comes with age.
Closing costs - The costs and fees that a buyer is responsible for when purchasing a home or taking out a mortgage. These include underwriting fees, inspections, appraisals, transfer taxes, and more. Closing costs typically range from 2% to 5% of the total loan amount.
Contingency - Home purchases have contracts to protect the interest of the buyer, seller, and lender. Contingencies are provisions designed to protect the buyer or lender should something occur in the time leading up to closing on (or purchasing) the home. One common contingency is the buyer’s right to have a final inspection of the home before closing to ensure no new issues with the home have occurred.
Private mortgage insurance (PMI) - Buyers who cannot afford a down payment of %20 typically are required to take out a private mortgage insurance policy. This policy protects the lender should the borrower default (fail to repay or meet the conditions of their loan).