What To Do First After You Move Into A New Home

Moving into a new home can be overwhelming. Once you have gone through the long process of buying a home, when the keys are your hand, your mind could be swirling with tons of ideas for what you should do in your new space. There are a few important things that you need to complete before you get into painting those walls or buying a new sofa. Read on for tips.

Look At Your Things

In the excitement of moving, you may forget about all of the stuff that you actually moved into the home. If you hired movers, check your boxes. Make sure that nothing is broken or damaged from the move. If there is anything wrong, you can file a complaint with your moving company.

Turn The Utilities On

The utilities need to be turned over to you from the previous owner. In many cases, you’ll need to contact the local utility companies in order to get the bills switched to your name and the services started. This is important for you to have a completely functioning household. Cable and Internet is a choice provider that you’ll also need to set up ahead of time before your move.

Unpack Your Stuff

Rome wasn’t built in a day but you need certain things like clothes and coffee makers as soon as you move into a space. Find the boxes that have the most important things in them like sheets, blankets, clothing, and important appliances. Work your way out. You don’t want your new home to stay a complete disaster zone forever. 

Organize Your Stuff

Moving into a new home gives you a new opportunity to get organized. Get everything in order the first time. This will keep you from needing to clean up constantly at a later date. When you start off with good organization you’ll be a lot happier in your new home. 

Think Security

Make sure that your new home is secure for your family. Think of everything from accidents to crime. Install an alarm system. Change the locks. Inspect the property for any hazards. All of these activities can help to make your new home a more secure place to live. 

Learn About Your New Surroundings

When you move into a new neighborhood, you should take the time to get to know the area. This includes meeting your neighbors and taking a stroll around your neighborhood to see the area more closely. Discover the highlights of the area like restaurants, shops, and other activities. Enjoy the new place that you call home to the fullest!

What Is A Backup Offer?

When you find a home you love, you most likely will want to take the steps you can to buy it. When a home is already under contract, there’s actually a little-known strategy that can be used to help you have a chance at getting the property. 

When you make a backup offer, you’re doing all of the same things you’d do under normal circumstances. The only difference between a normal offer and a backup offer is that you’re not guaranteed to get the home. The first deal needs to fall through in order for you to have a shot.

Advantages To Backup Offers

The backup offer is a bit of a stretch, but it still does give you a little bit of a chance to get a home. When a backup offer is in place, the home won’t just go back on the market if something falls through. This is especially smart when it comes to lower inventory markets. When a home is re-listed, you’ll need to compete against other buyers. If a bidding war is initiated, the home’s price will keep going up. The backup offer being in place helps the seller to feel secure in the sale of their home one way or another. If for any reason the first buyer falls through, you’ll be able to swoop in and get the home yourself.

Timing Is Everything

Keep in mind that there’s a certain period of time before a deal needs to be closed on for a home. The original buyer will need to close the deal on the home in an average of 50 days. Knowing the time frame that you’ll need to wait around for a decision is helpful for you in your own search for a home.

You can also have your agent check in with the listing agent for the property on a frequent basis. This lets the agent ad seller know that you have a keen interest in the property in case there are any difficulties coming from the other side of the deal. 

If The First Deal Doesn’t Go Through

If the first deal on a home does fall through, you’re not the new owner of the home just yet. There’s always a possibility that the first buyers found some very difficult problems with the home during the inspection. These could be big issues like an issue with the roof or the foundation of the home. Be sure to include a home inspection contingency with your contract so that you can have your own inspection conducted. This way, you’ll know if there are any problems with the home and that you will be able to deal with them.

A backup offer can be a great tool to use in tight markets to help you get a home that you love. It’s always a good idea to proceed with caution in any home deal to make a sound financial decision.

How To Prepare To Close On A Property

Once you have gone through the pre-approval process and have narrowed down your home search, there’s a good chance you’ll soon find a place that you want to make an offer on. This can seem like a huge step for any first time homebuyer. Even seasoned home buyers feel butterflies when the time comes to make an offer on a home they love. Before you even start your home search, you should become educated on how to make a good offer in order to land the property that you really want. There’s so many factors that effect your offer including the surrounding properties and the current state of the market. Here are a few very important pieces of advice that you should heed in order to have a successful time securing a home and closing the deal. 

Craft A Persuasive Offer

In many areas there’s a low inventory of homes and a high number of those seeking to buy. This means that you’re not guaranteed to get a property that you have made an offer on. Lowball offers might not be at all competitive and even insulting to sellers in certain markets. Often, you may need to make an offer of more than the asking price if you’re in love with a home. By working with your real estate agent and doing the right research, you can craft an offer on a home that will be compelling for sellers.    

Decide On Your Contingencies 

Once an offer has been accepted, it’s time to get to work on those contingencies. Be especially mindful of financing contingencies. If something falls through in the process, you’ll want to be sure you can get the deposit you made back. Also keep in mind that sellers love reliable buyers who have already been preapproved.  

Home inspection contingencies are another area of importance. After you sign the purchase agreement and the inspection is complete, you’re allowed to ask the seller to make repairs or provide you with a counter offer. While this can be one of the more nerve-wracking aspects of home buying, it has many positives. Home inspections protect buyers from purchasing a home that they can’t live with in cases of extreme mold, termites and other environmental and structural issues. 

The appraisal contingency is also important. In order for you to qualify for a loan, the property must be appraised. The property must be valued at or above the purchase price. A loan will only be approved by a lender up to the appraised value. If your home loan is $400,000 but your home of choice is appraised at $390,000, you’ll have a problem.       

Your Finances Matter Until You Get To The Closing Table

Don’t go crazy with all kinds of purchases before you reach the closing table. Opening a new credit account at your favorite furniture store, for example, could lead to a disastrous surprise on closing day. Hold off on big purchases until after you secure your home. Also avoid making large transfers or deposits from your bank account. don’t do anything to negatively affect your credit score

  

Know What To Bring To The Closing

Don’t show up to the closing for your home purchase unprepared. You’ll need to have the following items: 

  • Photo ID
  • Checkbook
  • Cosigners 

Think Ahead

Be sure that you think of the future when you’re purchasing your home. You’ll need to have enough cash flow to pay for things like property taxes, home insurance, utility bills and even new furniture for your home. Plan your future mortgage payments accordingly. Some companies have payments that are monthly or bimonthly. 

While buying a home is a huge undertaking, with the right plans in place, the process will be as seamless as possible. With the right plans, the moving truck will be pulling into the driveway before you know it.      

3 Tips for Finding an Inexpensive Home

Browsing the real estate market may seem like an exhausting process, particularly for those who are searching for inexpensive properties. Fortunately, there are many quick, easy ways to streamline your search for a cost-effective residence.

Here are three tips that homebuyers can use to find inexpensive properties in any real estate market, at any time.

1. Check Out “Fixer-Uppers”

A fixer-upper, i.e. a property in need of substantial upgrades and maintenance, may prove to be a great value.

In many instances, fixer-uppers are priced to sell. These properties may require a lot of repairs, but homebuyers who are ready to work hard and perform a variety of home improvement projects on their own may be able to save money by purchasing a fixer-upper.

Check out the fixer-uppers in various cities and towns. By doing so, you can assess the current condition of a fixer-upper and find out how much maintenance it requires. And ultimately, you’ll be able to determine whether a fixer-upper matches your price range, along with whether you’re up to the task of completing myriad home improvement tasks.

2. Submit Offers on Many Residences

When it comes to buying an inexpensive home, it is important to remain patient. If at first you don’t succeed with an initial offer on a home, be sure to try again.

It may take some time to find a home that corresponds with your budget. But homebuyers who are committed to exploring the real estate market are sure to find lots of properties that they can enjoy for years to come. And even though the asking prices of some homes may appear to be outside of your price range, it never hurts to ask whether a home seller will consider a proposal that is less than his or her initial asking price.

Be prepared to submit many offers on residences as you browse the real estate market for an inexpensive home. If a home seller rejects your initial proposal, don’t be discouraged. Remember, there are many terrific homes that are available, and a diligent homebuyer should have no trouble discovering the right residence at a budget-friendly price.

3. Collaborate with a Real Estate Agent

Real estate agents are ready to assist you in any way possible. Thus, if you work with an experienced real estate agent, you can explore a vast array of inexpensive houses at your convenience.

Your real estate agent will keep you up to date about any properties that match your price range as they become available. Plus, your real estate agent can offer homebuying recommendations that you may struggle to obtain elsewhere, ensuring that you can secure your dream residence at the right price.

Work with a real estate agent as you begin your search for an inexpensive home – you’ll be glad you did. Your real estate agent will go the extra mile to help you find a wonderful house that won’t require you to overspend. As a result, your real estate agent will make it simple for you to go from homebuyer to homeowner in no time at all.