Blog Archives - Preferred Properties of Texas Home & Ranch Properties Stephenville

Is A Barndominium Right For You?

July 7, 2022 by chorton Leave a Comment

Before building a barndominium, here are some things to remember

Many people are now trying to do their own DIY remodels or builds, thanks to the popularity of farmhouses and shows like Fixer Upper and Home Town. Barndos require special planning and are just as important as any other type of project.

Check paint to see if it is in good condition.

It is important to inspect any previous paint jobs before you start renovating an old barn. This is because barns often use exterior paint, which can make it dangerous for living spaces.

Be prepared for unexpected costs.

Barndos can be cheaper and more quickly constructed than traditional homes, but you’ll still need some features if your barndominium will be used as a home. It is easy to overlook things like plumbing, HVAC, siding, permits, and so on.

Employ licensed professionals.

Although it may appear that a barndo project is something you can do yourself, there are many critical elements that require professional intervention. Barndominiums, which are non-living spaces that are being converted, often require complex electrical work. A good selection of windows and doors is another important element that many people don’t consider. You will need to choose the best windows and doors to make your space comfortable.

You can check the laws and permits in your area.

Each place has its own rules. However, any construction project or remodel will need a permit to ensure that everything meets code. Realtor.com recommends that you budget $400-$2,000 for permit costs. These permits are not enough. Most barns will require a sprinkler system. Make sure you factor this in to your budget and timeline.

Consider losing certain creature comforts.

Although barndominiums are beautiful and functional spaces, they can also be stunning and inspiring. However, if you spend more time looking at the lifestyle of barndos on Pinterest than browsing decor ideas, you might be surprised. Barndominiums can be one-story units and feel louder than traditional homes. They are also more suitable for rural areas. You can accept all these characteristics and proceed with the barndominium process.

Barndominiums can make a great living space for those who have some land, or an existing barn that can easily be renovated. Don’t rush to build a barndominium. It is not as large as traditional homes, and there are many things you need to take into consideration.

Original Blog: https://www.landhub.com/land-news/building-a-barndominium/

Maintaining Your Vacation Home From Afar

July 5, 2022 by chorton Leave a Comment

It can be easy to daydream about buying a vacation home as the summer season is in full swing.

After the excitement has subsided, it’s time for you to think about the logistics of buying a vacation home.

It’s easier than ever to keep an eye on your home and ensure it meets the highest standards, regardless of how far away you are.

Hire a trusted person to clean your space. You and potential renters will be able to rest assured that everything is in order. Tip: Do not leave a spare key outside. Instead, give a neighbor a key.
Use technology: In these digital times it’s likely you have many of these devices at home. So why not INSTALL MONITORS around your vacation property. You can add additional protection to your property by installing motion sensor security systems. If you are renting your space, you might also want to consider changing locks that permit you to program the keycode frequently.
Make an owner’s closet This is essential if you have guests coming into your home, whether they are seasonal renters, property managers or family members. A special lock can be used to secure a closet or room. It will allow you to store personal items and sentimental items. Pro-tip : Keep important documents in this area safe.
Don’t leave your house empty. A vacant home is a prime target for burglars who are most likely to be looking for the easiest targets. It is important to ensure that mail, newspapers, and deliveries don’t pile up in your vacation home. Good practices include cleaning gutters and maintaining a neat landscape. Pro-tip: Install smart lighting fixtures inside your home that can be controlled remotely. These can be turned on and off frequently so your home looks liveable from the outside.
Get to Know the Area Whether you plan to spend time on your property or rent it out, it is a smart idea to make connections. Know your neighbors and local activities. You can also network with handymen and cleaning services to help you maintain your property.
Register to get police checks: Check if your vacation property is located in the U.S. for vacation home inspections. Many towns offer programs that allow registered volunteers or police officers to periodically inspect your home’s perimeter while you are away.

A vacation home can be a great investment and holds important sentimental value. Make sure it is safe and in good order while you are away.

Original Blog: https://www.landhub.com/land-news/maintaining-your-vacation-home-from-afar/?inf_contact_key=0e6a37f5af7fb89e0c179edd2f733cf1680f8914173f9191b1c0223e68310bb1

Home-Selling Timeline: 10 Steps To Sell A House

July 1, 2022 by chorton Leave a Comment

Many homeowners might decide it is time to sell, with home prices reaching record highs in the country. How long does it take for a house to be sold?

Today’s hot seller market is attracting buyers quicker than ever. Even in the best case scenario, sellers will need to prepare their home and close a deal for at least one month. It could take longer if extensive repairs are required or if the property isn’t priced correctly.

Whether you plan to sell soon or are just curious about how long it will take, this timeline will help you prepare and plan accordingly.

Make renovations/repairs
Find a listing agent
Figure out how much your house is worth
Declutter/stage your space
Put together your listing with description, photos, video
Hold home showings/open houses
Wait for an offer (or offers) to roll in—and negotiate the best deal
Accept an offer, and wait for the home inspection/appraisal
Close the deal
Move out

Original Blog: https://www.realtor.com/advice/sell/home-selling-timeline-how-long-it-takes-to-sell-a-house/

The Best Way To Protect Yourself From Rising Inflation Is To Be A Homeowner.

June 28, 2022 by chorton Leave a Comment

You’ve probably heard of rising inflation if you are following the news. Inflation today is at its 40-year peak. The National Association of Home Builders

As inflation rises, it’s likely that you will feel the impact on your daily life. Prices for groceries and gas are increasing, as well. These rising consumer costs can cause a financial pinch and force you to reevaluate big purchases that you’ve made in order to make sure they are still worth it.

You might be wondering whether you should go ahead with your plans to buy a home in the new year. The answer to that question will depend on your circumstances. Here are some ways homeownership can help you fight rising inflation costs.

Inflation can cause prices to rise all over the place. This is true for food, entertainment, housing, and other goods. Both home prices and rental prices are rising. How can you as a buyer protect yourself against rising costs? homeownership is the answer.

You can stabilize your largest monthly expense, your housing costs, by buying a house. Fixed-rate mortgages on your home lock you in to your monthly payment for the life of your loan. This is often 15-30 years.

Even if prices rise, your housing payment is a steady amount that will help you keep your budget in control. Renters don’t get the same benefit and won’t be protected against rising housing costs.

Although it is true that today’s rising home prices and increased mortgage rates means that buying a house will cost more than it did a few months ago it still offers the opportunity for long-term success. You want to invest in an asset that is more resilient than inflation and usually holds or increases in value in inflationary times.

What does this mean for you? Experts predict that home prices will continue to rise because of the continuing imbalance between supply and demand. Any home price appreciation after you have purchased a house will increase your equity as well as your net wealth. You can rest assured that your home is an asset that will increase in value.

It makes sense to act quickly if you are thinking of buying a house this year. Even though inflation is rising, This will allow you to stabilize your monthly housing costs and invest in an asset which has historically outperformed inflation.

If you’re ready and able, it makes sense to buy today before prices rise further.

If you’re ready to get started, contact Preferred Properties of Texas today.

Original Blog: https://www.keepingcurrentmatters.com/2022/06/23/homeownership-is-a-great-hedge-against-the-impact-of-rising-inflation/

Why Ag Exemptions Are Important

June 23, 2022 by chorton Leave a Comment

A property that is eligible for exemption from the agricultural property tax must meet minimum requirements in terms of size, use and location. To be eligible for the exemption, the property must have been in agriculture production for at least 5 years. The receipts and proof of this information must be presented in order to apply. The status must be maintained annually and run as a profitable business in order to keep it.

Why is it so important to have an exemption from property taxes for ag? It will significantly lower your annual property taxes.

If you’re considering buying a property with an ag exemption in place, please ensure that you work with an agent or broker who is familiarized with the requirements for the county where the property is located.

As different types of agriculture and land requirements are required in each county, there will be different exemptions and minimum requirements. Depending on the type of operation, some counties may require more land than others. Others will need as little as 5 acres.

You might not be buying the minimum amount for your county if you purchase land from a larger area that is exempt from ag taxes. This is because you might not be able to keep the exemption in place in the future.

Rollback taxes will apply to properties that do not keep the agricultural exemption. This means that the property is now responsible for all property taxes, including those incurred in the 5 years prior to the exemption. This amount will run into the thousands. You should calculate the amount of rollback taxes you will owe and set aside money to pay it when it becomes due. The taxes won’t become due immediately, but it will be gradual.

If you’re a seller who knows your property may not be in an ag exempt area, ensure that the contract protects you from any liability to pay those rollback taxes.

However, you can choose to rollover into a wildlife valuation rather than an agricultural valuation. This requires annual reports and plans.

If your looking to buy property contact Preferred Properties of Texas today.

Original Blog: https://texaslandandhome.com/2019/07/07/what-is-an-ag-exemption/

Thinking Of Buying A Vacation Home?

June 15, 2022 by chorton Leave a Comment

Most people have vacation in their heads as the summer season begins. It is important to research all aspects of a potential purchase before you make an emotional decision.

It’s tempting to make big decisions after a vacation. Here are some things you need to remember before purchasing a vacation house.

The pros and cons of buying a vacation home

It is an investment and will increase in value, especially if it is located near popular areas such as the beach or mountains.
This property can make your vacation more enjoyable. It will save you money and let you stay longer than you would in a vacation rental. It will also allow you to invite your loved ones for some R&R.
Rent out the property to make money during your absence or rent it out to vacationers.

The cons of buying a vacation home

It is expensive to rent vacation properties. Additional mortgages, property taxes, insurance, and utilities will be required. These costs can reduce savings in other areas, such as retirement or college funds.
You must consider security and maintenance when you aren’t there. You can still monitor your property remotely using modern technology. But what if you are far from your primary residence?
Are you going to get bored of the view? It’s important to not make an emotional purchase when buying a vacation home. Are you sure you will want a change of scenery within a few years? Are you going to stop taking vacations abroad because of this investment?

Important Information to Consider Before You Buy a Vacation Property

While you have the pros and cons listed above, there are still some things that you need to know when purchasing a vacation home.

Think about the things you want in a vacation home. What are you looking for? What do you see yourself doing with this property? What is the most frequent you will be able visit this property? These questions should be answered in detail. You can use these answers to help you find the right property.
Understand the financial implications of vacation homes. Many buyers don’t realize the higher mortgage rates for a second home. The rules for financing a second residence are different from those for a primary residence.
Do your research. Buying sight unseen is becoming more common in today’s real estate market. However, with a large investment like this, it’s important to know the area. Is the property close to shops and restaurants? These are important things to consider whether you will be renting or living in the home.

It’s an exciting idea to own a vacation home. But make sure you do your research so that you can find the right fit.

Ready to purchase? Contact Preferred Properties of Texas today!

Original blog: https://www.landhub.com/land-news/buying-a-vacation-home/?inf_contact_key=9a8e94f992f9eb8392bcff3da9fc2f74680f8914173f9191b1c0223e68310bb1