Tom Ruble - EXIT New Options Real Estate



Posted by Tom Ruble on 12/21/2018

If you're planning on making the transition from apartment renter to homeowner in the near future, you can be sure that the experience will be both exciting and challenging!

While some first-time home buyers are fairly well prepared for the changes that accompany homeownership, others encounter a myriad of unexpected expenses, neighbor problems, and household emergencies. Keeping surprises to a minimum and knowing how to handle difficulties when they come up are two strategies for keeping your life on an even keel in your new home.

When taking your initial plunge into homeownership, here are a few things to keep in mind to avoid problems and get the most from your new home.

Budgeting for expenses: When you're a renter or living with your parents, three things you generally don't have to concern yourself with are home repairs, appliance replacement, and yard maintenance costs. The longer list of homeowner expenses that could take a bite out of your paycheck or bank account includes furnace and AC services, chimney cleaning, snow removal, landscaping, exterminator services, plumbing leaks, and lighting installation. Many first-time home buyers also need to buy items like a lawn mower, clothes washer and dryer, and furniture. Although you can delay or spread out some of these expenses, they do need to be considered when creating a household budget.

Privacy is a factor: Depending on the proximity of houses, the openness of your yard, and the extent to which you want to get to know your neighbors, you might find yourself wanting to have some fencing installed or privacy hedges planted. Ideally, these are alterations you'd want to have done shortly after you move in -- if not before. That way, next door neighbors will have less of a tendency to take it personally when you erect barriers between you and them. And speaking of privacy, curtains and blinds are often a priority that needs to be taken care of immediately. While some homes for sale may include window treatments, there's a good chance your home decorating shopping list may include curtains!

Neighbor relations matter: If you happen to have neighbors who are easy going, relatively quiet, and likable, then consider yourself very fortunate! Being a good neighbor is, of course, a two-way street, so try to keep your noise level down to a "dull roar" and be the kind of neighbor you'd like them to be! That's no guarantee, of course, that everyone's going to get along famously and be the best of friends, but mutual respect and showing a modicum of friendliness to neighbors does help establish a cordial neighborhood atmosphere.

By creating a realistic household budget, being neighborly, and factoring in your need for privacy, you can begin setting the stage for a satisfying and fulfilling homeowner experience.





Posted by Tom Ruble on 3/18/2016

OrganizedWhether you buy your first home later in life, or directly from college, buying your first home is a major milestone in your life.† For that reason, there are things you need to be knowledgeable about before your purchase is complete. You will want to safeguard yourself so you know that you are getting a home and a loan that you can afford. Here are a few tips from mortgage and real estate pros to help prepare you for the biggest purchase of your life. Using an Agent If you are a buyer, then there is no reason not to use a real estate professional. It does not cost you any more money to hire an agent. That agent will do more than find you that perfect house. You will discover that after you find a house is when you will need that agent the most.† The agent will use their expertise to present your offer to the seller and then address issues that may arise between contract and closing. House Hunting Remember, location, location, location. This is very important when buying a house.† Location plays a big part in determining the market value of the home. Before you start the house hunting process, make sure you know what neighborhood is a good location for you. Also, it would be good to have an idea of what style home you are looking for. Real estate moves quickly, so if you see a property that you love, you should move on it before someone else does. Find a Loan that Works for Your It sure can be tricky business trying decide what kind of loan is right for you.† There are many different types of loans that you should be aware of.† There is an Adjustable rate mortgage which has an interest rate that is linked to an economic index. So as the index changes your interest rate and payments may go up or down. There is also a 30 Year Fixed Rate Mortgage as well as a 15-Year Fixed Rate Mortgage. Some state and county maximum loan amount restrictions may apply. Home Buyer Alternatives for First Timer Saving for a first home can sometime seem like itís a hill that too steep, but donít worry there are assistance programs that can help. The Federal Housing Administration offers loans to people with a credit score as low as 640, low down payments and down payment assistance. There are also VA and USDA loans: Certain active members of the military and veterans as well as qualifying residents of designated rural areas can qualify for a 0% down-payment housing loans that are free of mortgage insurance fees. How Much Do You Have to Put Down? It really depends on what type of loan you have. If you have a conventional loan then you may have to put as much as 20% down. It is possible to put 5% down on a conventional loan if you donít mind paying mortgage insurance.† If you go with the FHA loan you will need at least 3.5 % down.† For people who are relying on others to help with down payments, an FHA loan may be a good option. First time home buyers need to look around and know that there are a multitude of down payment assistance offers by state or local governments. Closing cost: There can be a lot of hidden fees in closing costs; first time home buyers should be aware of these costs.† These fees are typically included in the closing costs, including fees for commissions, appraisals, inspections, certifications and surveying.† There will also be fees for government record changes, tax and title services and transfer taxes.







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