Author: Ali Palacios - Broker

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‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home

Posted on by Ali Palacios - Broker

It’s a common misconception that you shouldn’t try to buy or sell a home during the fall and winter months.

This is generally considered the “offseason” in real estate. Many sellers mistakenly believe that the cold weather will keep buyers away and that no one is looking over the holidays. Unfortunately, many real estate professionals perpetuate this myth by advising their clients to “wait until the spring” to list their home.

The truth is, homes are bought and sold year round. And while the market is typically quieter during the fall and winter, savvy buyers and sellers know how to use this slow down to their advantage. In fact, depending on your circumstances, now may be the ideal time for you to purchase or list a home.

If you’re in the market to buy or sell, there’s no need to wait for the spring. Read on to discover the top five reasons that it can pay to buy or sell a home during the offseason! 

  1. LESS COMPETITION

What’s the number one reason to buy or sell a home during the offseason? Less competition!

This can be particularly beneficial if you’re a seller. Come spring, a huge wave of new listings will hit the market. But if you list now, you will have fewer comparable homes with which to compete.

In the spring and summer months, it can be difficult for your property to stand out in a crowded market. You may end up with a surplus of homes for sale in your neighborhood. Indeed, it’s not uncommon to see multiple listings on a single street during the peak selling season.

Inventory in the fall and winter months, however, can be significantly lower. That means your home will not only receive more attention from buyers, but you may also gain the upper hand in your negotiations. In fact, research found that homes listed in the winter are nine percent more likely to sell, and sellers net more above asking price in the winter than any other time of year.1

Buyers also have a lot to love about the real estate offseason. While some buyers need to move during the winter, many bargain hunters search this time of year in hopes of scoring a great deal.

Smart buyers will continue to scan the market during the fall and winter for hidden gems that pop up during the offseason. There are always highly motivated sellers who need to sell quickly. And with less competition to bid against you, you’re in a better position to negotiate a great price. If you’ve been looking for a good deal on a home or investment property, now may be the best time to look!

So while a “slow market” may scare off some buyers and sellers, it can actually be the perfect time of year for you to list or purchase a home. While the rest of the market is hibernating until spring, take advantage of this opportunity to get a jump start on your competition!

  1. EVERYONE’S MORE MOTIVATED

During the spring and summer, you’re likely to encounter “lookie-loo” buyers who are just testing the waters and unrealistic sellers who are holding out for a better offer. But the serious buyers and sellers stay active during the cold weather and holiday season, often because they need to move quickly. In fact, research shows that homes listed in the winter sell faster than any other time of year.1

January and February are peak job hiring months, which brings a surge of buyers who need to relocate quickly to start a new job.2And of course life changes like retirement, marriage, divorce, and new babies come year round. While families often find it more convenient to move during the summer when school is out, the reality is that many don’t have the option to wait. According to the National Association of Realtors, 55 percent of all buyers purchased their home at the time they did because “it was just the right time,” not because of seasonal factors.3

If you prefer to deal with serious, highly-motivated buyers and sellers who want to act fast and don’t want to waste your time, then the offseason may be the perfect real estate season for you.

  1. GREATER PERSONAL ATTENTION

Another key benefit to buying and selling in the offseason is the increased personal attention you’ll receive.

While we strive to provide unparalleled client service throughout the year, we simply have more time available for each individual client during slower periods. Similarly, we find the other real estate professionals in our network—including title agents, inspectors, appraisers, insurance agents, and loan officers—are able to respond faster and provide more time and attention during the offseason than they are during the busy spring and summer months. The result is a quicker and more streamlined closing process for all involved.

  1. COST SAVINGS

Clients who move during the offseason often report significant cost savings. Moving costs may be discounted by 15 percent or more during the winter months, and moving companies can typically offer more flexibility in their scheduling.4

Home renovations and repairs can also be less expensive in the offseason.5 Whether you’re fixing up your property prior to listing it or remodeling your new home before moving in, contractors and service providers who are hungry for business are often willing to work for a discount this time of year. If you wait until the spring and summer, you may be forced to pay a premium.

Home stagers and decorators are also more likely to negotiate their fees during the winter. And you can often score great deals on new furniture and decor during the holiday sales.

Whether you’re buying or selling, count cost savings as another compelling reason to consider an offseason move.

  1. EASIER TO MAINTAIN CURB APPEAL

Finally, listing your home during the fall and winter offers one key—but often overlooked—advantage: less lawn maintenance!

Good curb appeal is crucial when selling your home. According to a recent report by the National Association of Realtors, 44 percent of home buyers drove by a property after viewing it online but did NOT go inside for a walkthrough.6That means if your curb appeal is lacking, buyers may never make it through the door.

If you list your home during the peak of the selling season, we will generally advise you to implement a frequent schedule of mowing, edging, watering, weeding, and trimming shrubs and hedges. You’ll probably want to plant flowers, as well, to brighten your exterior. After all, a lush landscape is a key element in attracting spring and summer buyers.

If you list in the offseason, however, your lawn maintenance list is significantly reduced. While we do recommend that our sellers keep their exterior clean, tidy, and free of leaves, snow, and ice, you will probably spend much less time on outdoor maintenance during the winter than you would if you listed your home in the summer.

ARE YOU READY TO MAKE YOUR MOVE?

Now that you know all the great reasons to buy or sell a home in the offseason, it’s time to decide whether you’re ready to make your move.

Every client’s circumstances are unique. Whether you needto move quickly or you simply wantto take advantages of all benefits this season has to offer, it’s a great time to enter the market.

Give us a call today to schedule a FREE consultation … and you could be ringing in the New Year in your new home!

 

 

Sources:

  1. Redfin –
    https://www.redfin.com/blog/2013/12/why-winter-is-the-hottest-time-to-sell-your-home.html#.VjKYm2SrTKI
  2. Top Resume –
    https://www.topresume.com/career-advice/the-best-times-of-the-year-to-job-search
  3. National Association of Realtors –
    https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers
  4. Angie’s List –
    https://www.angieslist.com/articles/why-winter-can-be-best-time-move.htm
  5. Build Direct –
    https://www.builddirect.com/blog/the-best-times-of-the-year-to-get-deals-on-home-remodels/
  6. National Association of Realtors –
    https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf

Esta considerando comprar una casa nueva?

Posted on by Ali Palacios - Broker

Imagínate un paseo en coche un fin de semana. Ves una señal que dice:

Casas de nueva construcción!
Modelos desde $ XXX, XXX
Siguiente Derecha!

Tal vez está buscando activamente una casa, o tal vez es solo un impulso del impulso del momento, pero sigue las indicaciones hacia la casa modelo.

Te estacionas

Entras en la casa modelo.

El representante de ventas del constructor le pide que inicie sesión.

Te registras

Ay. Es posible que hayas cometido un error costoso …

No es como si estuviera comprando uno …
La mayoría de las personas no piensan dos veces antes de iniciar sesión cuando visitan una casa modelo. Ellos piensan, ¿cuál es el daño? No es como si estuviera firmando algo para comprar uno. Solo quiero echar un vistazo, y no es como si me estuvieran pidiendo que firme mi vida.

Pero a veces terminas comprando uno.

Usted consigue el error. Te enamoraste. Te imaginas en este estilo de vida. Lo siguiente que sabes es que estás haciendo una oferta en el acto.

O tal vez se vaya, pero no puede dejar de pensar en ello durante todo el viaje a casa, así que decide que va a comprar uno.

De cualquier manera, si decide comprar uno, después de haber iniciado sesión con el constructor, es posible que haya desestimado su derecho a involucrar a su propio agente de bienes raíces y asesorarlo.

¿Es incluso necesario un agente de bienes raíces?
Algunas personas se preguntan si es incluso necesario que su propio agente de bienes raíces participe en la compra. Sienten que son un intermediario innecesario. Después de todo, el constructor tiene un representante de ventas. Sienten que “encontraron” la casa, no un agente de bienes raíces. El constructor o su representante puede manejar el papeleo. Y, idealmente, no tener un agente tal vez les dé cierta ventaja para negociar.

Otros simplemente ni siquiera piensan en llevar a su agente de bienes raíces con ellos o no quieren “molestarlos” para que vayan a ver una casa en la que puedan entrar fácilmente para ver. Solo se detienen por un capricho, y una vez que la bola comienza a rodar, sienten que no pueden involucrar a su agente, o incluso que el constructor podría “alentarlos” a no hacerlo. Y ellos piensan, cuál es el problema … el constructor o su representante pueden manejar todo.

Y algunas personas sienten que los agentes de bienes raíces solo quieren aferrarse al acuerdo para hacer una comisión, mientras hacen muy poco, ya que el constructor y / o su representante pueden manejar el papeleo y el proceso.

Es más que simplemente “encontrar” y empujar papeles …
Claro, un comprador puede “encontrar” una casa de nueva construcción por su cuenta. Y un constructor o su representante de ventas ciertamente puede manejar el papeleo.

Pero el valor de tener a un agente de bienes raíces de su lado no es solo “encontrarle” una casa (nueva construcción o no), o completar algunos espacios en blanco de un contrato y hacer que los documentos pasen por el proceso. Se trata de su conocimiento, consejo y representación.

Bien, algunos agentes pueden querer que se firmen algunos papeles y esperar el día de cierre para obtener un cheque de comisión. Y, sí, probablemente sea mejor no involucrar a un agente como ese en la compra de una nueva construcción.

Pero eso no significa que no deba encontrar a un agente que realmente entienda la construcción nueva (y los bienes raíces en general) de su lado.

Un buen agente puede ayudarte

Evita errores costosos
Obtén todo lo que puedes y debes obtener del constructor
Aconsejarle si comprar una casa en particular es la mejor o la mejor opción para usted
Ofrezca alternativas que de otra manera no habría considerado
Le ayuda a elegir el mejor lote y modelo en un desarrollo para su propio disfrute y futuro valor de reventa
Mantener el proceso de construcción y construcción bajo control
Abogue por usted cuando surjan problemas con el constructor
Cosas para saber y mirar hacia fuera
Hay muchas cosas que debe saber y estar atento a la hora de comprar una nueva construcción, más de lo que puedo cubrir en un breve artículo. Entonces, creé un folleto que puede descargar y leer en su tiempo libre, en lugar de uno sentado antes de desplazarse.

Es gratis y no hay obligación. Y, aunque es más detallado y más extenso que este artículo, que abarca más de una docena de temas, no es una lectura larga. Usted puede pasar a través de una taza de café de tamaño mediano.

Simplemente complete su información a continuación y le enviaré una copia de inmediato.

 

¿Qué es la ganancia (o capital) de su vivienda?

Posted on by Ali Palacios - Broker

¿Qué es la ganancia (o capital) de su vivienda?

El valor de la vivienda parece ser un cálculo muy simple: la cantidad total de hipotecas debidas se resta del valor de mercado actual de una casa. Aquí hay un ejemplo simple:

Valor actual del mercado de viviendas $ 325,000

Hipoteca existente $ 225,000

Capital del propietario $ 100,000

Un lado de la ecuación está bien definido y se encuentra en el estado de cuenta mensual de la hipoteca, el saldo del préstamo. El otro lado es menos obvio: el valor de mercado actual de la propiedad.

Como propietario, su enganche es su capital inicial, y sus pagos de capital mensuales (o adicionales) aumentan su capital. En los mercados de bienes raíces sólidos y en las ubicaciones en demanda, su capital puede aumentar bastante rápidamente a medida que aumenta el valor de la propiedad, pero también puede suceder lo contrario: demasiado inventario disponible y ciclos descendentes del mercado pueden llevar a la caída de los valores de las viviendas y una reducción en el capital de la vivienda. .

Puede ser difícil atribuirle un valor preciso a algo en lo que se adhiere emocional y monetariamente. Es seguro decir que la mayoría de las personas piensan que su hogar vale más de lo que vale.

Los propietarios pueden realizar evaluaciones inteligentes sobre el valor de mercado actual de su hogar siguiendo las ventas de propiedades similares en el vecindario, pero deben mantenerse alejados de sitios web como Zillow y Trulia, que proporcionan estimaciones inexactas y desactualizadas. La medición más precisa requiere un análisis de mercado comparativo por parte de un profesional de bienes raíces o que el hogar sea evaluado profesionalmente. Pero, en resumen, su casa vale lo que alguien está dispuesto a pagar por ella.

Crear valor está en tus manos

Mantener la condición de una casa es de vital importancia para retener y aumentar el valor. Las casas son juzgadas contra sus pares: cómo se comparan con casas similares en el vecindario. Otra forma de conservar el valor es no actualizarse en exceso, ya que es raro recuperar el dinero gastado si excede el valor del vecindario. Mantener el paisaje y hacer las pequeñas cosas para agregar atractivo.

Poner el capital de su casa a trabajar

El valor acumulado de la vivienda representa el activo individual más grande de millones de personas, y debido a que representa una gran parte del patrimonio neto de una persona, debe tratarse con respeto. El valor líquido de la vivienda no es un activo líquido hasta que se vende una propiedad o se la toma prestada.

Hay dos tipos de préstamos que aprovechan el capital de los propietarios como garantía.

Préstamos con garantía hipotecaria

Muchos planes de capital de la vivienda establecen un período fijo durante el cual la persona puede pedir dinero prestado, como por ejemplo 10 años. Al final de este “período de giro”, se le puede permitir a la persona renovar la línea de crédito. Si el plan no permite renovaciones, el propietario no podrá pedir dinero adicional una vez que el período haya finalizado. Algunos planes pueden requerir el pago completo de cualquier saldo pendiente al final del período. Otros pueden permitir el reembolso durante un período fijo, por ejemplo, de 10 años.

Un préstamo con garantía hipotecaria, a veces llamado segunda hipoteca, generalmente tiene una tasa fija y un tiempo establecido para devolverlo, generalmente con pagos mensuales iguales.

Línea de crédito con garantía hipotecaria

Una línea de crédito hipotecario es similar a una tarjeta de crédito. El prestamista establece un monto máximo que puede pedir prestado y puede sacar dinero cuando lo necesite, aunque muchas líneas de crédito con garantía hipotecaria requieren un sorteo inicial. La tasa de interés varía diariamente, y generalmente es primo más un número establecido, pero el pago requerido generalmente es solo de interés. Una vez que el préstamo ha sido cancelado, el pago se reduce y se puede pagar e iniciar tantas veces como lo requiera el propietario.

¿Cuánta valor se puede acceder?

Dado que la institución financiera está prestando dinero y utilizando una vivienda como garantía, no prestarán el 100% del capital de la vivienda. El banco no quiere correr el riesgo de que si el precio de la vivienda baja, llevaría un préstamo por más de su valor de mercado. Por lo tanto, la mayoría de los bancos permitirán que un propietario calificado obtenga un préstamo de aproximadamente el 80% de su capital.

Es importante usar el capital de su casa con prudencia

Debe utilizarse de manera prudente, y los pagos contra el préstamo deben ser asequibles. Usar el dinero de la equidad para hacer el pago del préstamo solo es aceptable para una solución a corto plazo.

Hay varias buenas razones para usar el dinero de un préstamo con garantía hipotecaria … y algunas realmente malas. En primer lugar, vamos a cubrir los usos inteligentes.

Invertir en su casa
La mejor manera de usar el dinero es crear más equidad en el hogar. Entre los mejores retornos de su inversión (ROI), se incluyen remodelaciones de cocinas y baños, agregando pies cuadrados o un baño adicional, mejorando el atractivo de la acera y reparando / manteniendo el sonido de la estructura existente. Hacer inversiones prudentes en su hogar es maravilloso: usted disfruta de las actualizaciones y las reparaciones pueden agregar valor al hogar.

Invierta en la educación de sus hijos
El uso de la equidad de su hogar para financiar la educación superior de un niño puede ser la mejor recompensa de todas. No solo la tasa es mucho más baja que un préstamo, es una inversión en el futuro del niño.

Suplemento de las necesidades de jubilación.

Los propietarios de viviendas de mayor edad pasaron sus vidas laborales pagando su hipoteca. En el momento de la jubilación, cuando se reducen los ingresos mensuales, un préstamo con garantía hipotecaria podría pagar por unas vacaciones de ensueño o un gasto mayor inesperado.

Aumente la venta inminente de una casa

Si planea vender pronto, una línea de crédito con garantía hipotecaria puede ser la mejor forma de financiar mejoras, y puede pagarla completamente cuando venda. Invertir sabiamente en actualizaciones y reparaciones puede incluso obtener un beneficio de su inversión.

Aquí hay algunos ejemplos de algunas opciones no muy sabias.

Agregar servicios de lujo como una piscina, un spa, paisajes lujosos, electrodomésticos caros y pisos exóticos rara vez vale la pena.

Comprar un auto o bote o la mayoría de los artículos de lujo personales es un mal uso de los fondos, ya que estos artículos se deprecian rápidamente en valor.

También manténgase alejado del uso de dinero en inversiones de alto riesgo. El financiamiento de las compras de acciones, la creación de empresas y el pago de facturas de rutina no es financieramente inteligente. Si no puede permitirse comprar esos artículos con los fondos disponibles, usar el capital de su hogar significa que no deben estar en su presupuesto.

Debe tomar un préstamo con garantía hipotecaria como una inversión y no como efectivo adicional al tomar decisiones financieras. Si su uso previsto del dinero no le devuelve el dinero de alguna manera, no es el mejor uso de su valioso capital.

Nos complace brindarle asistencia Si desea una evaluación del valor de mercado de su vivienda y del capital actual al que puede acceder, llámenos para obtener un análisis comparativo del mercado.

The Home Equity Playbook

Posted on by Ali Palacios - Broker

 

What is Home Equity?

Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:

Current Home Market Value         $325,000

Existing Mortgage                           $225,000

Homeowner Equity                         $100,000

One side of the equation is well defined, and it is found on the monthly mortgage statement, the loan balance. The other side is less obvious — the current market value of the property.

As a homeowner, your down payment purchases your initial equity, and your monthly (or additional) principal payments increase your equity. In strong real estate markets and in-demand locations, equity can increase quite rapidly as the property value increases, but the inverse can also happen — too much available inventory and market down-cycles can lead to falling home values and a reduction in homeowner equity.

It can be difficult to put an accurate value on something that you have emotional and monetary vesting in. It is safe to say that most people think their home is worth more than then it is.

Homeowners can make savvy assessments about their home’s current market value by following the sales of similar properties in the neighborhood, but should stay away from websites such as Zillow and Trulia, which provide inaccurate and outdated estimates. The most accurate measurement requires a comparative market analysis from a real estate professional or having the home professionally appraised. But, the bottom line — your home is worth as much as someone is willing to pay for it.

Creating Value is in Your Hands

Maintaining the condition of a home is vitally important to retaining and increasing value. Homes are judged against their peers: how they compare to similar homes in the neighborhood. Another way to retain value is to not over upgrade, since it is rare to ever recoup the money spent if you exceed neighborhood value. Keep up the landscaping and do the little things to add curb appeal.

Putting Home Equity to Work

Home equity represents the largest single asset of millions of people, and because it represents so much of an individual’s net worth, it must be treated with respect. Home equity is not a liquid asset until a property is sold, or it is borrowed against.

There are two types of loans that tap into homeowner equity as collateral.

Home Equity Loans

Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the homeowner will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, of 10 years.

A home equity loan, sometimes called a second mortgage, usually has a fixed rate and a set time to pay it back, generally with equal monthly payments.

Home Equity Line of Credit

A home equity line of credit is similar to a credit card. The lender sets a maximum amount you can borrow, and you can draw money as you need it, though many home equity lines of credit require an initial draw. The interest rate varies daily, and is usually prime plus a set number, but the required payment is usually interest only. Once the loan has been paid down, the payment is reduced, and it can be paid off and initiated as many times as a homeowner requires.

How Much Equity can be Accessed?

Since the financial institution is lending money and using a home as collateral, they will not lend 100% of the home’s equity. The bank does not want to take the risk that if the house price drops, they would be carrying a loan for more than its market value. Therefore, most banks will allow a qualified homeowner to borrow approximately 80% of their equity.

It’s Important to Use Your Home Equity Wisely

Because it is likely the biggest asset most people have, losing your home equity is hard to overcome. It must be used in prudent ways, and the payments against the loan must be affordable. Using equity money to make the loan payment is only acceptable for a short-term solution.

There are number of good reasons to use money from a home equity loan… and some really bad ones. First, let’s cover smart uses.

  1. Invest in Your Home

The best way to use the money is create more equity in the home. Among the very best returns on your investment (ROI) include kitchen and bathroom remodels, adding square footage or an extra bath, enhancing curb appeal and repairing/keeping the existing structure sound. Making prudent investments in your home is a wonderful win-win: you enjoy the upgrades and the repairs can add value to the home.

  1. Invest in your Children’s Education

Using your home equity to finance a child’s higher education may be the greatest payoff of all. Not only is the rate much lower than a student loan, it is an investment in the child’s future.

  1. Supplement Retirement Needs

Older homeowners spent their working lives paying down their mortgage. At retirement, when monthly income is reduced, a home equity loan could pay for a dream vacation or an unexpected major expense.

  1. Augment the Impending Sale of a Home

If you’re planning to sell soon, a home equity line of credit may be the best way to finance improvements, and you can pay it off entirely when you sell. Investing wisely on upgrades and repairs may even reap a profit on your investment.

Here are some examples of some not very wise choices.

Adding luxury amenities like a swimming pool, a hot spa, lavish landscaping, expensive appliances and exotic countertops and flooring rarely pay off.

Purchasing a car or boat or most any personal luxury items is a poor use of the funds, since these items quickly depreciate in value.

Also stay away from using money on risk-heavy investments. Financing stock purchases, start-up businesses and paying routine bills is not financially smart. If you cannot afford to purchase those items with available funds, using equity from your home means they should not be in your budget.

You should treat a home equity loan as an investment and not as extra cash when making financial decisions. If your intended use of the money doesn’t pay you back in some way, it’s not the best use of your valuable equity.

We Are Happy to Assist You

If you would like an assessment of the market value of your home and the current equity you can access, give us a call for a comparative market analysis.

 

 

 

 

 

 

 

 

Hablemos de seguros de propietarios y pólizas de hogar

Posted on by Ali Palacios - Broker

Hablemos de seguros de propietarios y pólizas de hogar

Nunca quieres dejarte sin una red de seguridad, tampoco quieres pagar de más por el seguro que no necesitas. Trate de lograr un equilibrio que le brinde una protección adecuada a un precio asequible.

El seguro para propietarios de viviendas cubre cosas como:

• Estructura
• Techo
• Windows
• Muebles / Pertenencias Personales
• Responsabilidad de los no residentes lesionados en la propiedad
• Responsabilidad por daños o lesiones causadas por usted o sus mascotas

La mayoría de las pólizas NO cubren cosas como:

• Sistemas y aparatos defectuosos
• Inundaciones o terremotos
• Fugas lentas
• Fallas de energía
• Descuido o envejecimiento
• Reparaciones defectuosas

Pólizas de Hogar

Algunos propietarios eligen complementar su cobertura de seguro mediante la compra de una póliza para el hogar, que cubre muchos de los sistemas y aparatos en su hogar que NO están cubiertos por el seguro para propietarios de viviendas. Los términos y la cobertura de la póliza varían, la garantía de la vivienda a menudo cubrirá el costo (después del deducible) para reparar o reemplazar los componentes de su aire condicionado, electricidad, plomería y algunos aparatos que fallan debido a la antigüedad o al desgaste típico.

A diferencia de los pólizas de vivienda, las compañías hipotecarias no exigen pólizas de vivienda. Pero a muchos propietarios les gusta la protección financiera adicional y la tranquilidad que brindan las pólizas de vivienda.

Una póliza de hogar cubre cosas como:

• Plomería
• Aire condicionado
• Eléctrico
• Grandes aparatos

Minimizar el riesgo, maximizar el valor

Ahora que entiende los conceptos básicos del seguro de propietarios de viviendas, debe estar listo para comenzar a comprar la póliza que mejor se adapte a sus necesidades y presupuesto. Su objetivo debe ser minimizar su riesgo y maximizar el valor que aporta su póliza.

Una vez que haya comprado su póliza, evite configurar la renovación anual automáticamente. En su lugar, tómese un tiempo para considerar los factores que han cambiado durante el año pasado. Las mejoras en el hogar, un cambio en las condiciones del mercado, un nuevo negocio basado en el hogar o incluso un crecimiento en su patrimonio neto general pueden significar que es hora de volver a evaluar su cobertura.

¿Necesitas orientación? ¡Podemos ayudar!

Si tiene preguntas sobre la compra de un seguro de vivienda o una garantía de vivienda, o si desea una referencia a un corredor de renombre, ¡llámenos! Estamos aquí para ayudar.

Sabias que no es necesario esperar que su póliza venza para hacer un cambio? Puede cambiar su póliza en cualquier momento.

Homeowners Insurance and Home Warranties

Posted on by Ali Palacios - Broker

Let’s talk Homeowners Insurance

While you never want to leave yourself without a safety net, you also don’t want to overpay for insurance you don’t need (and will hopefully rarely use). Aim to strike a balance that will provide you with adequate protection at an affordable price.

Homeowners Insurance Covers Things Like: 

• Structure
• Roof
• Windows
• Furniture/Personal Belongings
• Liability for Non-Residents Injured on Property
• Liability for Damage or Injury Caused by You or Your Pets

Most Standard Policies DON’T Cover Things Like:

• Malfunctioning Systems and Appliances
• Floods or Earthquakes
• Slow Leaks
• Power Failures
• Neglect or Aging
• Faulty Repairs

Home Warranties

Some homeowners choose to supplement their insurance coverage by purchasing a home warranty, which covers many of the systems and appliances in your home that are NOT covered by homeowners insurance. While policy terms and coverage vary, a home warranty will often cover the cost (after deductible) to repair or replace components of your HVAC, electrical, plumbing and some appliances that fail due to age or typical wear and tear.

Unlike homeowners insurance, home warranties aren’t required by mortgage companies. But many homeowners like the added financial protection and peace of mind that home warranties provide.

A Home Warranty Covers Things Like:

• Plumbing
• HVAC
• Electrical
• Major Appliances
Minimize Risk, Maximize Value

Now that you understand the basics of homeowners insurance, you should be ready to start shopping for a policy that best fits your needs and budget. Your goal should be to minimize your risk while maximizing the value your policy provides.

Once you’ve purchased your policy, avoid setting the annual renewal on autopilot. Instead, take some time to consider factors that have changed over the past year. Home improvements, a shift in market conditions, a new home-based business, or even growth in your overall net worth could mean it’s time to reassess your coverage.

Need Guidance? We Can Help!

If you have questions about purchasing homeowners insurance or a home warranty—or if you would like a referral to a reputable broker—give us a call! We’re here to help.

8 Smart Home Technology Trends that Can Save You Money

Posted on by Ali Palacios - Broker

8 Smart Home Technology Trends that Can Save You Money

The ‘smart home’ is the new ‘internet of things’, or objects that can serve you better by communicating with each other or directly with you through apps on your smart phone. In the ideal version of the wired future, all of our appliances and gadgets talk to each other seamlessly.

What could living in a smart home look like? Picture something like this:

The lights in your bedroom slowly illuminate to quietly awaken you in the morning, replacing the typical blaring alarm. The aroma of fresh brewing coffee drifts in and stirs your senses. Once the lights are all the way up, the heating system kicks on, just in time to warm up your room so you’re not shocked once you crawl out from underneath the duvet.

When you step into the shower, it turns on automatically and remembers your preferred temperature and water pressure. And it will shut off right when you’re finished as it knows how long you take to bathe.

Once you’ve driven out of your garage, your home alarm system arms itself. And it will only unlock automatically when it “sees” and recognizes someone else from your family approaching through programmed in biometrics.

Do smart homes really work this way right now? Not exactly…while you may find some of these smart features in certain homes, we haven’t reached the point where every feature intuitively knows what you want and when you wanted. However, each year we’re getting closer and closer toward that shiny, idealized ‘Jetson’ future.

Here are some trends that we see for smart homes, many of which may also help you save money:

Smart Thermostats

Programmable thermostats that are synchronized with the clock have been around for decades. However, they’re often difficult to set and aren’t necessarily efficient; they simply turn on or off as programmed, whether or not you are there.

With the newer models, smart thermostats can be programmed to adjust the temperature when they sense you are present. And once you leave, they can kick back to standby mode so that you’re saving energy and money. Nest does all of this, and it also allows you to check your usage from your cell phone so that you can adjust the temperature remotely and save even more.

Smart Smoke Detectors

Having a working, effective smoke detector saves lives. But unfortunately, many of us still have those battery-run smoke detectors that make that annoying, piercing beep when their batteries are running low on power. And instead of replacing batteries right away, it’s often easier to pull them out and disable the detector (while risking our lives).

Many of the new smart smoke detectors, like the Birdi, monitor smoke, carbon dioxide, as well as air quality. With this new sensor technology, they know the difference between a real fire and burnt toast.

Smart Sprinkler Control

Weather in our area is predictably unpredictable. Often, especially during the summer months, we fall into a severe drought. But then we might have one season that brings extreme amounts of rain, like we did this past spring.

A smart sprinkler controller like Rachio Iro can not only help save you lots of money on your water bill but also help protect our precious resources.

Programmable by computer or smart phone, it can automatically adjust how often you water your lawn based on the season and the weather forecasts. You can also remotely adjust the settings through a mobile app.

Smart Solar Panels

You can put the sun to work for you by using solar technology to power your home. It’s green and renewable, and can save you money over the long term. A recent study conducted by the NC Clean Energy Technology Center determined that Austin customers who invested in a solar system saved an average of $66 per month during the first year that they owned the system.

With smart solar panels, you can program the technology to monitor their performance and even turn them off in case of a weather emergency or fire.

Smart Home Security Systems

Home monitoring has become much more sophisticated in recent years. With the old-style security systems, you had to call in contractors to wire your home with monitoring sensors.

With new smart technology, you can simply place a few smart devices in your home to monitor movement and sense whether doors and windows are closed or opened. Some systems include audio and video monitoring, as well as sirens to scare off intruders. You get real-time feedback on security breaches through an app. And, because you’re alerted as soon as the system senses an intruder, it’s more likely that they will be caught.

Canary is one popular all-in-one audio-video security system, complete with sirens and night vision.

Smart Locks

Go beyond the standard key locks, which can often be compromised by burglars. The new smart lock systems give you more control over those who can gain access to your home.

Some systems, like the Kwikset Kevo, include encrypted virtual keys that you can program for access for a limited amount of time—for example, allowing guests over for a weekend, or cleaning service in during a specific window of time.

Other door locking systems include biometric technology. The Ola smart lock allows you to program your lock to recognize your family member’s fingerprints. Other systems use facial recognition to greet you and unlock your door.

The new August smart lock integrates with Apple’s technology so you can ask Siri to open your door for you.

Smart lighting systems and light bulbs

A well-lit home feels warm and welcoming, and good lighting can instantly increase the value of your home.

However, annual lighting costs can account for up to 12% of your overall electric bill, or over $200 per year according to Energy Star. You can easily reduce this expense simply by using smart lighting technology to add efficiency.

The Philips Hue wifi-enabled lights make it easy to add to your home without installing specialized equipment. Smart lighting dimmers and sensors can give you more control over how much energy you use and allow you to turn them on and off through your smart phone.

New smart light bulbs can give you control over the warmth or coolness levels of your lighting. With the Lifx LED light bulbs, for example, you can program your light bulbs to turn on or off when you want, to slowly wake you up with increasing illumination, or to change from daytime work lighting to entertainment-friendly shades for parties.

Smart Appliances

Programmable slow cookers and coffee makers are the quaint, old-fashioned versions of these home conveniences. Newer, smart appliances give you more control over how your food is kept and prepared, and make it easier for you to complete pesky household chores.

  • Newer coffee makers, like the Smarter coffee machine, let you ‘order’ your coffee exactly to your liking, adjusting everything from bean grind to temperature to strength to time that it’s ready to drink.
  • Smart refrigeration technology can help you store your food at just the right temperature, adjusting the thermostat during peak usage times. For example, the LG THINQfridgecan alert you via smart phone app if a door is accidentally left open.
  • Smart ovens can ensure that your food is cooked to the right level of done-ness, and alert you when your meal is ready to eat. June, a new counter oven invented by former Google, Apple, Go-Pro and Path employees will give you even more control—it will contain cameras, thermometers, and other technology to ‘learn’ what you like to eat and make menu suggestions.
  • Smart washers and dryers have customizable controls so that you can safely wash any type of fabric. Some units include controls to increase drying time to save energy. And soon, connected appliances from GE, Oster, Samsung, and other makers, will be able to re-order soap and fabric softener directly from Amazon, so you won’t even have to think about running to the store at the last minute.

Have you tested any of these technologies in your home? Did we miss any of your favorite home technologies? Let us know in the comments!

No se queme: obtenga una inspección de su casa para ahorrar dinero en su próxima compra

Posted on by Ali Palacios - Broker

No se queme: obtenga una inspección de su casa para ahorrar dinero en su próxima compra

De acuerdo, tomaste una de las decisiones más importantes de tu vida: ¡estás comprando una casa! Has encontrado tu hogar ideal. Está en su vecindario deseado, cerca de todo lo que ama, cava su diseño y su sensación y está listo para finalizar el trato.

Pero, whoa … espera un minuto! Comprar una casa no es como comprar una tostadora. Si descubre que algo anda mal con su nuevo hogar, no puede devolverlo para obtener un reembolso o un intercambio uniforme. Estás atascado con tu decisión de compra. Comprar una casa es una inversión importante y debe ser tratado como tal. Por lo tanto, antes de finalizar cualquier cosa, su hogar “ideal” necesita una inspección para protegerlo de arrojar su dinero duramente ganado en un pozo de dinero.

Una inspección de la vivienda es un examen visual profesional del techo, la plomería, el sistema de calefacción y refrigeración de la vivienda, los sistemas eléctricos y los cimientos.

Realmente hay dos tipos de casa de inspecciones. Hay una inspección general de la casa y una inspección especializada. La mayoría de las inspecciones generales cuestan entre $ 267 y $ 370. El costo de la inspección especializada varía de un tipo a otro. Si el inspector recomienda una inspección especializada, tome ese consejo porque comprar una casa es la inversión más importante que hará y quiere tener una seguridad adicional de que está haciendo una inversión inteligente.

Al inspeccionar su posible nueva casa, usted puede:

  • Negocie con el vendedor de la vivienda y prepare la venta de la casa sin costo para usted.
  • Evite que sus tarifas de seguro suban
  • Cancelar la compra antes de cometer un error costoso
  • Ahorre dinero a corto y largo plazo

¿Cuánto dinero puede ahorrarle una inspección de vivienda?

Una inspección de la vivienda ayuda a encontrar gastos potenciales más allá del precio de venta, lo que coloca a los compradores de vivienda en una posición poderosa para la negociación. Si se detectan problemas durante la inspección de la casa, los compradores pueden estipular que los vendedores los reparan antes de cerrar o ayudan a cubrir los costos de alguna otra manera. Si los vendedores no quieren pagar el dinero para completar las reparaciones, ¡los compradores podrían negociar una caída en el precio de venta general de la casa!

Quizás aún más importante, una inspección de la casa le garantiza tranquilidad. Sus primeros días y meses en un nuevo hogar establecerán el tono de su vida allí, y no querrá contaminar ese momento con preocupaciones sobre problemas ocultos y posibles depósitos de dinero.

Para ayudarlo a comprender cuánto dinero puede ahorrarle una inspección de la casa, aquí hay algunos números de HomeAdvisor para llevar el punto a casa … por así decirlo.

Techo: los problemas del techo son uno de los problemas más comunes encontrados por las inspecciones de viviendas. La reparación del techo puede oscilar entre $ 316 y $ 1046, pero reemplazar un techo por completo puede costar entre $ 4,660 y $ 8,950.

Fontanería – No subestime la tubería. Pequeñas fugas pueden causar daños que cuestan entre $ 1,041 y $ 3,488 para reparar. El inspector de su casa buscará problemas visibles con las tuberías, como grifos con fugas, manchas de agua alrededor de los lavamanos y la ducha, y tuberías ruidosas. Las manchas en las paredes, techos y pisos deformados muestran problemas de plomería.

Calefacción y refrigeración: garantizar que el sistema de calefacción y refrigeración de la casa funcione correctamente es muy importante. El inspector de su casa le informará de cualquier problema con el sistema existente y le informará si el sistema ya no está en su mejor momento y necesita ser reemplazado. No desea tirar $ 3,919 para reemplazar un horno envejecido. Tampoco quiere gastar $ 5,238 en reemplazar un aire acondicionado que no funciona bien. Reemplazar y reparar un calentador de agua también es caro. ¿No preferirías usar tus ahorros para unas vacaciones?

Sistemas eléctricos: cuando se piensa en el sistema eléctrico, ningún problema es mejor que un problema pequeño. Los problemas eléctricos pueden parecer pequeños, pero pueden convertirse en catástrofes de miles de dólares. Asegúrese de que el inspector de su casa examine el medidor eléctrico, los cables, el interruptor, los interruptores y los tomacorrientes y tomacorrientes del GCFI.

Fundación: si el inspector de su casa ve que la casa se está hundiendo, eso significa que el agua se está filtrando en la base; Las grietas en las paredes, las ventanas pegadas y el piso hundido también indican problemas fundamentales. La fundación es tan importante que si el informe de inspección general muestra problemas de la fundación, los prestamistas no prestarán dinero en el hogar hasta que se resuelvan esos problemas. Las reparaciones de la fundación pueden llegar a $ 5,880 para reparar.

Como puede ver, una pequeña inversión de unos pocos cientos de dólares para una inspección general de la vivienda puede ahorrarle toneladas de dinero y futuros dolores de cabeza. Para ahorrar aún más dinero, también podría considerar invertir en una inspección de vivienda especializada. Una inspección especializada se reduce al meollo de la cuestión de todos los lugares problemáticos que podría haber localizado la inspección general del hogar.

¿Cuánto dinero puede ahorrarle una inspección especializada?

Una inspección general de la vivienda puede desencadenar la necesidad de una inspección especializada porque el inspector general de la vivienda detectó algo sobre el techo, el sistema de alcantarillado, el sistema de calefacción y refrigeración y la cimentación. Si la humedad es alta donde está comprando su casa, se recomienda una inspección de plagas. Por lo general, una inspección de plagas buscará moho y plagas. La mayoría de los compradores de viviendas tienen una prueba de radón para garantizar la calidad del aire.

Techo: los especialistas en techos examinan la chimenea y los destellos que la rodean. También observan el nivel de desgaste del techo. Le pueden decir cuánto tiempo durará el techo antes de que se necesite uno nuevo. Ellos inspeccionarán las bajantes y las canaletas. El costo promedio de una inspección del techo es de aproximadamente $ 223. La mayoría de las inspecciones de techo costarán entre $ 121 y $ 324.

Sistema de alcantarillado: asegurarse de que su sistema de alcantarillado no tenga problemas debe ocurrir antes del cierre, ya que lo que podría parecer un problema pequeño puede convertirse en un gran problema en el futuro. Si surge algún problema, puede negociar con el vendedor las reparaciones o reemplazos necesarios antes de cerrar. El costo de la inspección variará; en el lado bajo, podría costarle alrededor de $ 95, y en el lado alto, podría costarle $ 790. Compare estos números con la reparación de un tanque séptico, que puede costar, en promedio, $ 1,435 (aunque podría llegar a $ 4,459), y puede ver que el costo de una inspección vale la pena cuando detecta el problema antes de comprar.

Sistema de calefacción y enfriamiento: un especialista en HVAC revisará los conductos en busca de obstrucciones y el mantenimiento constante de la unidad. Las reparaciones necesarias pueden ser pequeñas o pueden ser grandes, pero esta pequeña inversión le ahorrará dolores de cabeza y mucho dinero en el futuro.

Fundación: un especialista en fundaciones señalará el problema exacto con la base. El especialista examinará el grado o pendiente de la vivienda. El terreno debe inclinarse lejos de la casa en todas las direcciones media pulgada por pie. La mayoría de los propietarios han gastado entre $ 1,763 y $ 5,880 para reparar sus cimientos. Y el costo promedio para volver a inclinar un césped es de $ 1,705. La mayoría de los propietarios pagaron entre $ 933 y $ 2,558 para volver a inclinar su césped.

Inspección de plagas: las termitas se comen la estructura de madera de una casa desde adentro hacia afuera y pueden causar daños a su casa por miles de dólares. Otras plagas pueden convertir la casa de tus sueños en una pesadilla. Dependiendo de la humedad del lugar donde viva, debe realizar una inspección de plagas / termitas cada dos años aproximadamente. Puedes comenzar con tu nuevo hogar potencial. La mayoría de las inspecciones son extensas y cuestan entre $ 109 y $ 281. La buena noticia es que la mayoría de las compañías de manejo de plagas garantizarán la inspección anterior si aparecen errores.

Prueba de radón: el radón es un gas inodoro invisible que ocurre naturalmente y es la segunda causa principal de cáncer. Una prueba de radón es una buena prueba que se ha hecho como un buen hábito. El costo de la prueba de radón es bajo y su costo varía de estado a estado. Aquí hay más información sobre el radón.

Pasos que puede tomar para ahorrar dinero usando una inspección de la casa

Para ayudarse a ahorrar con una inspección de la casa, deberá:

Asista a la inspección: asistir a la inspección es importante porque es una oportunidad para que usted haga preguntas.
Verifique las utilidades: la verificación de las utilidades permite conocer la eficiencia energética de su hogar potencial.
Contrate a un inspector de viviendas calificado: podemos recomendarle inspectores de buena fe. Puede comparar nuestra recomendación con todos los inspectores que pertenecen a la American Society of Home Inspectors. Si bien la decisión de con quién trabajas es siempre tuya, podemos educarte para que tomes una decisión inteligente al comprar una casa.

Don’t Get Burned – Get a Home Inspection to Save Money on Your Next Purchase

Posted on by Ali Palacios - Broker

 

Okay, you made one of the most important decisions in your life: you’re buying a home! You found your ideal home. It’s in your desired neighborhood, close to everything you love, you dig its design and feel, and you’re ready to finalize the deal.

But, whoa … wait a minute! Buying a home isn’t like buying a toaster. If you discover something’s wrong with your new home, you can’t return it for a refund or an even exchange. You’re stuck with your buying decision. Purchasing a home is an important investment and should be treated as such. Therefore, before finalizing anything, your “ideal” home needs an inspection to protect you from throwing your hard-earned money into a money pit.

A home inspection is a professional visual examination of the home’s roof, plumbing, heating and cooling system, electrical systems, and foundation.

There are really two types of home of inspections. There is a general home inspection and a specialized inspection. Most general inspections cost between $267 and $370. The cost of the specialized inspection varies from type to type. If the inspector recommends a specialized inspection, take that advice because buying a home is the single most important investment you’ll make and you want extra assurance that you’re making a wise investment.

By having your prospective new home inspected, you can:

  • Negotiate with the home seller and get the home sale-ready at no cost to you
  • Prevent your insurance rates from rising
  • Opt-out of the purchase before you make a costly mistake
  • Save money in the short and long run

How Much Money Can a Home Inspection Save You?

A home inspection helps to find potential expenses beyond the sales price, which puts homebuyers in a powerful position for negotiation. If there are any issues discovered during the home inspection, buyers can stipulate that the sellers either repair them before closing or help cover the costs in some other way. If the sellers do not want to front the money to complete the repairs, buyers could negotiate a drop in the overall sales price of the home!

Perhaps even more importantly, a home inspection buys you peace of mind. Your first days and months in a new home will set the tone for your life there, and you don’t want to taint that time with worries about hidden problems and potential money pits.

To help you understand how much money a home inspection can save you, here are some numbers from HomeAdvisor to drive the point home … so to speak.

Roof – Roofing problems are one of the most common issues found by home inspections. Roof repair can range between $316 and $1046, but to replace a roof entirely can cost between $4,660 and $8,950.

Plumbing – Don’t underestimate the plumbing. Small leaks can cause damage that costs between $1,041 and $3,488 to repair. Your home inspector will look for visible problems with the plumbing such as leaky faucets, water stains around sinks and the shower, and noisy pipes. Stains on walls, ceilings, and warped floors show plumbing problems.

Heating and Cooling – Ensuring the home’s heating and cooling system is working properly is very important. Your home inspector will make you aware of any problems with the existing system and let know you whether the system is past its prime and needs replacing. You don’t want to throw down $3,919 to replace an aged furnace. Nor do you want to spend $5,238 replacing an ill-working air conditioner. Replacing and repairing a water heater gets pricey too. Wouldn’t you rather use your savings for a vacation?

Electrical Systems – When thinking of the electrical system, no problem is better than even a small problem. Electrical problems might seem small, but they can blossom into thousand-dollar catastrophes. Make sure your home inspector examines the electric meter, wires, circuit breaker, switches, and the GCFI outlets and electrical outlets.

Foundation – If your home inspector sees that the house is sinking, that means water is seeping into the foundation; cracks in walls, sticking windows, and sagging floor also indicate foundational problems. The foundation is so important that if the general inspection report shows foundation problems, lenders will not lend money on the home until those issues are solved. Foundation repairs can reach as high as $5,880 to repair.

As you can see, a small investment of a few hundred dollars for a general home inspection can save you tons of money and future headaches. To save even more money, you might consider investing in a specialized home inspection as well. A specialized inspection gets down to the nitty-gritty of all the trouble spots the general home inspection might have located.

How Much Money Can a Specialized Inspection Save You?

A general home inspection can trigger a need for a specialized inspection because the general home inspector spotted something off about the roof, sewer system, the heating and cooling system, and the foundation. If humidity is high where you’re buying your home, a pest inspection is recommended. Usually, a pest inspection will check for mold as well as pests. Most homebuyers have a Radon test done to ensure air quality.

Roof – Roof specialists examine the chimney and the flashing surrounding it. They also look at the level of wear and tear of the roof. They can tell you how long the roof will last before a new one is needed. They’ll inspect the downspouts and gutters. The average cost of a roof inspection is about $223. Most roof inspections will cost between $121 and $324.

Sewer System – Making sure your sewer system has no problems should happen before the closing because what might look like a small problem can turn into a large problem in the future. If any issues pop up, you can negotiate with the seller about needed repairs or replacements before closing. Cost of inspection will vary; on the low side, it might cost you around $95, and on the high side, it might cost you $790. Compare these numbers to repairing a septic tank, which can cost, on average, $1,435 (though it could reach as high as $4,459), and you can see that the cost of an inspection is worth it when you catch the problem before you buy.

Heating and Cooling System – A HVAC specialist will check the ducts for blockage and for consistent maintenance of the unit. The repairs needed might be small or they might be big, but this small investment will save you headaches and lots of money down the road.

Foundation – A foundation specialist will pinpoint the exact problem with the foundation. The specialist will look at the grade or slope of the home. The ground should slope away from the home in all directions a half inch per foot. Most homeowners have spent between $1,763 and $5,880 to repair their foundation. And the average cost to re-slope a lawn is at $1,705. Most homeowners paid between $933 and $2,558 to re-slope their lawn.

Pest Inspection – Termites eat a home’s wood structure from inside out and can cause thousands of dollars worth of damage to your home. Other pests can turn your dream home into a nightmare. Depending on the humidity of where you live, you should a pest/termite inspection every two years or so. You can start with your potential new home. Most inspections are extensive and cost between $109 and $281. The good news is that most pest management company will guarantee the past inspection if bugs show up.

Radon Test – Radon is a naturally occurring invisible odorless gas that is the second leading cause of cancer. A radon test is a good test to have done as a good habit. The cost of radon test is low and its cost varies from state to state. Here’smore information about Radon.

Steps You Can Take to Save Money Using a Home Inspection

To help yourself save with a home inspection, you will need to:

Attend the inspection – Attending the inspection is important because it’s an opportunity for you to ask questions.

Check utilities – Checking utilities let’s know the energy efficiency of your potential home.

Hire a Qualified Home Inspector – We can recommend bona-fide home inspectors to you. You can compare our recommendation with all inspectors who belong to the American Society of Home Inspectors. While the decision of who you work with is always yours, we can educate you so that you make a wise homebuying decision.

 

Should You Buy a New or Existing Home?

Posted on by Ali Palacios - Broker

Should You Buy a New or Existing Home?

Maybe your dream home has the intricate details that you usually find only in older construction – wainscoting and crown molding in the interior, the front porch with a swing, an older tree shading the back yard, and the white picket fence.

Or maybe your dream home has all the conveniences of modern living – open floor plan in the living and dining spaces, large windows, connected, “smart” appliances and security systems, and minimalist design elements.

Whether you go for a brand new construction or an existing home, both types of properties have their pros and cons when it comes to purchasing. What type of home is right for you will depend on which factors are most important for your lifestyle.

Build your dream home with new construction

If you’re making a home purchase that’s still in the pre-construction phase, you may be able to customize many of the details. Many home builders will give you the option to add design elements that will give you the exact dream home you desire. If it’s a new subdivision, you may even be able to pick which lot you like best.

Very early in the building process, you may have more room to customize. For example, if the walls aren’t complete, you may be able to add extra outlets in each of the rooms or custom wiring for surround sound in the media room. Perhaps you could move the laundry room to the top floor instead of the basement. You might be able to get a separate mudroom entrance.

Later in the building process, you may be able to add marble countertops, an island, and custom cabinets in the kitchen. Your master bathroom could be upgraded with a steam shower, spa tub, and European fixtures. You will want to check with the builder to understand which features are included, and which ones are extra.

New homes save money with fewer repairs and more efficiency

Once your home is complete, all you’ll need to do is move in. New appliances will be under warranty for a few years if they need repairs, and will likely work well for several years without needing fixes. Often, new construction is under a builder’s warranty, so any repairs needed in the first year should be covered.

New homes often contain energy efficient and green appliances, like high-efficiency stoves, refrigerators, washing machines, heaters, or air conditioning units. These energy-saving appliances, along with good insulation and energy-efficient windows, will help you save money on monthly utility bills.

New homes also often use new building materials that require less maintenance — for example, using composite siding instead of wood, which doesn’t need annual repainting. You won’t need to spend as much to maintain your new home.

If you customized it during pre-construction, you won’t need to spend any money on renovations or upgrades for several more years. You can just enjoy it and not worry about saving for major home repairs.

What you need to do to make a good new home purchase

Before you put in your offer, do some research on the builder. Do they have a good reputation? What else have they built? Did their other new properties have issues such as poor construction or unfinished details?

You like the model home, but will you like where it’s situated? After you look at the home itself, come back to the neighborhood to see what it’s like at different times of the day. Walk around during the day and in the evening, and see how you like the area.

Brand new communities usually attract similar types of buyers—urban professionals, couples, or young families, for example. These will be your neighbors, so you’ll want to make sure that you want to be part of this new, homogeneous community.

You may also need to be flexible with your move-in date. Builders will only be able to let you move in if they can meet their construction schedule. If the wiring is delayed, the walls can’t be finished. And because there are so many construction tasks that are dependent on the completion of prior tasks, schedules tend to slip.

Get more variety and established neighborhoods with an existing home

Existing homes are those that have generally been built and lived in between the 1920’s and 1970’s. With existing homes, you will get more variety in home styles, as different types of construction have gone in and out of style throughout the decades. Within one neighborhood, you may be able to find a mix of different styles like Victorian, modern Tudor cottages, tract style, ranch or split-ranch, or contemporary homes.

Existing homes are situated in established neighborhoods, which may have more amenities nearby that a new home in a brand new subdivision may not have. Your new neighborhood may have restaurants, cafes, and boutiques within walking distance.

You might also have access to more supermarkets, dry cleaners, discount stores, and gas stations nearby. An established neighborhood might have a nice park, running path, or playground for the kids to enjoy. You might also be closer to a library or the post office.

Resale homes can be a less expensive purchase

If you’re considering a resale home, you may be able to get into a beautiful, unique property at a lower purchase price than a new home.

There are many more resale homes available than there are new homes — according to theNational Association of Homebuilders, about 10 times as many. With such a large pool to buy from, the market for resales can be more competitive. You may have more room to negotiate the  selling price of the home. With a brand-new construction, you won’t likely be able to have the same kind of negotiating power.

Before putting a home on the market, sellers often make home renovations or remodel parts of their homes to make them more attractive to buyers and to be able to potentially increase the list price. If the resale home has a brand new, modern kitchen, an updated bathroom, or even a new roof or upgraded windows, you could end up getting a home that’s comparable to new construction without having to pay the potential more expensive new-home list price.

Existing homes have already been inspected at least once on the last sale, so you will know about any potential structural problems or repairs that have been made on the home. Knowing the track record on your potential home will help you avoid purchase mistakes—you’re much less likely to end up with a property that has a rotting roof, dangerous electrical wiring, or a crumbling foundation. With a new home, you could end up with incomplete construction or major issues that you didn’t know about because they weren’t yet documented.

What you need to do to make a good resale purchase

Before you go too far down the road to a purchase, you can protect your purchase by first having the home inspected. A good home inspector will document all flaws, no matter how small they appear. If the inspector finds any major problems, like foundation cracks or leaky roofs, you may be able to counter offer and get the seller to either fix it or reduce the selling price.

Even if the inspection doesn’t uncover any major issues, you will need to expect the unexpected. Older homes will eventually need replacement appliances, a new air conditioning unit, or a plumbing repair. As long as you know that before you buy a resale home, you can plan for surprise repairs.

With an older home, you may want to eventually remodel parts of it. Will you be happy living in your house while you’re doing major work on the living room or the kitchen? If you know that it would disrupt your lifestyle too much, you may want to consider whether you really want to buy an older property.

Whether you choose to buy a new home or an existing home, the best way to get started is to speak with your trusted real estate professional. We will have access to both new properties and resale homes that may fit your goals, and will know which neighborhoods will serve your needs.