Preferred Properties of Texas

The Preferred way to buy & sell property for over 25 years

5 Reasons to Purchase a New Home

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It’s not uncommon to stall on purchasing a new home. Buying a new home is expensive, and you can easily get hit with undisclosed issues that can suddenly cost you more. It’s understandable that some people hesitate. However, home ownership in the US is actually on the rise, with a 65% homeownership rate. If you would like to buy a place of your own, consider buying a new home instead of an existing one. Here are the reasons why:

  1. Fresh start

Owning a home is very different from being a tenant. Buying a house is a long and hard investment and one that is seen as positive step forward in life. In a USA Today article on personalizing your new home they noted how one of the biggest draws was the freedom to customize it without having to ask for permission from a landlord/lady. And with a new home you will have a blank canvas to start from. This will save you money as you won’t need to pull out anything the previous owner left.

  1. New homes are designed for modern living

Newer homes have the latest appliances and up-to-date specifications, making them more environmentally friendly than older homes. Modern plumbing, appliances, heating, and air conditioning will leave you with lower maintenance costs. New houses are also built in accordance with the latest building codes and safety regulations making them much safer to live in. For instance if you live in an area known for harsh winters, then a brand new home will be much better at insulating you against the cold, which will also reduce your energy bills.

  1. Financial security

Homeownership gives you a sense of stability and security. And if you are a first-time homebuyer, the IRS Publication 530 states you can deduct state and local real estate taxes. This is why owning a home, compared to renting one, is a much better foundation for wealth building. And once you pay your mortgage off you will be set up for later life. On top of that buying a new home rather than an existing one will save you money from having to do big repairs or work once you move in.

  1. Property appreciation

The house you buy should primarily be a home that you would like to live in for many years. But if you plan on selling the house after some years down the line, you should be more critical of the location. New homes are often built in suburbs with access to good schools, new commercial businesses, parks, and the city center. This will make reselling much easier, as will the fact that the new home is only a few years old.

  1. Potential to turn it into a real estate business

Purchasing a new home is a prime opportunity to start a real estate business. Austin is expected to be the nation’s hottest housing market, which makes Texas the perfect state to start building a property portfolio. Yet, if starting a real estate property portfolio in Texas there are things to be aware of. A ZenBusiness guide to forming an LLC in Texas notes that the state charges significantly higher filing fees than other states. This is on top of other fees that Texas might require from your business, such as the cost of specific licenses and permits or filing your annual report. You will need to balance this out with the revenue potential of investing in one of the country’s best housing markets. And if you do decide to start your own real estate business, then re-selling a brand new home will increase your chance of a quick turnaround.

Having your own house can help you live much more comfortably. For more information and tips on buying a new home, check our Buying a Home Archives.

Written exclusively by Gabrielle Wagner for preferredpropertiestx.com

Does Removing Wallpaper Increase The Home Value?

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When you consider the effect of wallpaper on your home’s worth, there are two types of value steps to weigh: What homebuyers see, and what appraisers see.

Style tastes will not factor into the appraisal. Provided that the underlying walls are in good shape, an appraiser is not going to reduce your appraised value dependent on the stripes on your bathroom walls or the border with spices and herbs in the kitchen.

Appraisers don’t value homes based on a seller’s style preferences, so your frilly sofa and yellow carpeting are safe in their ruling. However,”older wallpaper can make a house look and feel outdated. While this may not directly affect the value of the house, it might affect the marketability. Most buyers prefer to paint since it’s easier to change without a massive hassle. Buyers will pay less for dated homes.

Clean walls are a fantastic way for a buyer to look at your home as a clean slate. About 57 percent of high HomeLight agents urge that homeowners paint the inside before selling their houses. Painting the exterior independently has a 51 percent return on investment — not bad for a job that costs under $3,000.

Expect wallpaper to draw lower offers. Most of the time, wallpaper is something that the buyer looks at as something which dates the home, and they believe things that are obsolete to be fixes. In their mind, they are going, ka-ching, ka-ching, and taking numbers off. Nine times out of ten, they’re gonna subtract a good bit of money.”

Like it or not, that background you have lived with for years will impact your offers. Whether we reduce the price or not, the buyer will reduce their deal. That is the problem.

Unless they’re house-flippers or enthusiastic DIYers, most buyers aren’t looking for a project to take on once they are settled. They don’t want to devote their free time fixing up a house. The more you leave bare, the less buyers will probably offer, and they will typically lower the deal by more than it would have cost the homeowner to finish the job.

Before checking whether it’s possible to eliminate your wallpaper, it’s worth evaluating whether you should. Just as our experts recommend it, they also know that some homeowners don’t have the money or the know-how to eliminate it. It really does come down to the house and the unique situation of that house.

Owning Is Still More Affordable Than Renting

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If spending time at home over the last year is making you think hard about purchasing a house instead of renting one, you’re not alone. You may be wondering, if the dollars and pennies add up in your favor because home prices continue to grow . According to the experts, in many cases, it is still more affordable to buy a house than rent.

In 2020, mortgage rates reached all-time lows 16 times, and up to now, they are continuing to put in low this year. Owning a median-priced three-bedroom home is more affordable than leasing a three-bedroom house.

It is startling to see that type of trend. However, it shows how both the expense of leasing has been comparatively high in comparison with the cost of ownership and how declining interest rates have a remarkable effect on the housing market and property ownership. The coming year is wholly uncertain, amid so many questions linked to this Coronavirus pandemic and the broader economy.

If you’re considering buying a home this year, contact one of our professional agents today to learn more about the options that match your budget while affordability is in your favor.

Mineral & Surface Rights On Your Land

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There are two forms of rights which could be contained in property possession: surface rights and mineral rights. In the USA, landowners have both mineral and surface rights unless they opt to market the mineral rights to somebody else. After mineral rights are sold, the first owner keeps just the rights to the land surface, whereas the next party can exploit the underground assets in almost any way that they choose.

Mineral rights could be held in a variety of ways. As soon as the exact same owner retains both mineral and surface rights, it is referred to as a unified estate. When mineral and surface rights have been severed from one another, the distinct ownership is referred to as a property. A third solution is a property, where mineral rights are divided between many owners. This could occur, by way of instance, when a property owner divides rights one of many heirs or sells a few mineral rights but keeps others. A landowner can also opt to promote mineral rights to numerous buyers, each of whom subsequently possesses the rights to a specific bit of land.

What are surface rights?

Surface rights really are, as its name suggests the rights to the face area of a bit of property. Including any structures on the land, in addition to the rights to farm the property or exploit aboveground resources like trees, plants, or water based on local laws and ordinances. Ordinarily, you have the right to dig into a particular depth for functions like installing septic tanks. Should you have surface rights, then you’re permitted to sell or transfer title to the property, but you may not sell or rent your house into an oil, gas, or mining firm for mining or extraction.

What are mineral rights?

Mineral rights are the rights to subterranean sources such as petroleum, natural gas, silver, gold, iron, aluminum, coal, uranium, and other nutritional supplements. In the event that you or a former owner have sold the mineral rights to your house, it means that you have just what is above ground. If the mineral rights holder would like to extract funds, they don’t require your approval to do so. They can perform exploratory drilling along with other evaluations to ascertain whether or not to invest in additional advancement, and they’ll probably have to put in equipment and infrastructure such as pumps, wells, mine shafts, access roads, and electricity lines.

There might be a necessity for the mineral rights holder to offer damages for any surface damage, but essentially, they have the right to utilize as much of their surface as is reasonably required for mineral exploration and extraction, even without asking your consent. Each one these actions will impact the overall look of your property and your capability to utilize the surface in a sense you see fit.

Matters to consider when Purchasing property.
After mineral rights are severed from surface rights, they stay like that. If you’re thinking about purchasing land, be certain you research comprised rights thoroughly prior to making any buying decisions, to prevent any unpleasant surprises in the future. You might believe that you’re purchasing both mineral and surface rights, just to find that the former owner has offered mineral rights to another party. If you already have property and aren’t sure which rights you’ve got, assess your house deed or mortgage certificates.

Oftentimes, an oil, gas, or mining firm will attempt to work out a program which can minimize disturbance, but if you wish to retain total control over your property, it is always best to buy both mineral and surface rights. In the event you decide differently, be certain that you are fully advised of who retains the mineral rights and how this may influence your usage of the house.

Fence Options For Your Land

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You have found the ideal parcel of property, but the absence of a fencing means you might need to buy a fencing to suit your premises. Or maybe you’re trying to market some rural property, and are concerned that prospective buyers could be switched off from the lack of fence.

In any event, there are lots of choices for property fencing it’s possible to pick from. And, along with bringing potential buyers within an increasingly competitive property market, a lot of the next fencing choices may also help increase property value too. Think about the next land fencing alternatives and select one which best fits your requirements.

Corral panels are perfect if you’re only trying to place a few no-nonsense fencing around your property. The panels are easy to install and join, and frequently don’t even ask that you dig some postholes. Using corral panels to weapon a tiny area is more achievable in cost but not very functional for larger regions,

Flex railing is often chosen instead to strong plastic railings. They’re also fairly maintenance free and a few designs look like wood fencing.

Stock panels are easy, functional, and cheap alternative for those just trying to property fence without fretting about just how nice it seems.

Vinyl railing typically selected more for appearances, this really is a good alternative in the event that you would just like to create the fencing around your property appear fine, however they are not a sensible alternative for horse owners, because rails can easily be knocked out of place. Aside from that, they are simple to fit into articles, and do not require painting or staining.

Continuous steel railing a fantastic pick for placing land fencing around bigger areas, constant steel rail is attached to wooden poles, which makes a seamless fencing line.

Horse fence is obviously a fantastic selection for anyone who have horses in the house. It’s comprised of woven cable incorporated using a tight mesh. It empowers a horse to walk close to the weapon without the probability of this horse’s hooves becoming caught in conventional fencing or railings. It’s likewise affordable and may be connected to fence posts to enhance the sturdiness. As an additional bonus, this kind of fencing is able to appear appealing, raising land value. It’s best installed by an expert however, as it requires some skill and expertise to extend the woven wire fencing correctly from post to post.

Coated wire fencing is usually chosen as a substitute for cable fencing and can be assembled from electrical fence wire that’s been wrapped into a plastic coating. It is a fairly simple kind of fencing, excellent for people who only need some type of property fencing. It’s more powerful than a conventional wire fence along with the plastic coating provides more visibility too. Some forms of coated wire may also be deciphered.

Barbed wire is not quite appealing but certainly cheap, weatherproof wire fencing is acceptable for those who have possessions, but not always horses, since they are sometimes hurt by the fencing. Handling barbed wire fencing is clearly not without problem and necessitates careful patience and a great deal of gloves.

Electric fencing is simple to build around a large part of property and is comparatively cheap also. But a lot of individuals generally use electric fencing as a temporary remedy to other sorts of property fencing, unless there’s livestock on the property, in which case it’s more sensible. Otherwise, the fencing may frequently be quite brittle, and the minimal visibility makes it a problem for many. In general, it is a handy alternative for temporary fencing but requires continuous maintenance to guarantee the strands do not become loose and stay functional.

Natural fencing consistently looks quite appealing and there are definitely a broad assortment of styles to pick from. Any of them can help increase land value, but costs can vary based on height, style, and needless to say, just how much property is necessary. For large regions of property, natural timber fencing can be extremely costly depending on the style. Furthermore, natural fencing frequently requires postholes, in addition to routine treated or painting every so often. Massive amounts of pure fence can grow to be very labor-intensive, therefore many property owners shy away from this kind of fencing alternative based on that factor alone.

When contemplating your fencing options, it may be best to speak with a fencing specialist. He or she’ll take under account what your property is used for and just how big a parcel it is, and make the best recommendation based on your requirements and budget.

Preferred Properties of Texas

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