If you looking for a new HOME in one of Stephenville’s residential neighborhoods, or a home with a small acreage, farm, or ranch, then helping you find that “JUST RIGHT” home is our primary concern.
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Congrats to one of our knowledgeable agents Phyllis Tate on the closing of the property at 103 N. Davis in Dublin, Texas.
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Although it’s easy to forget about while you own your home, you can be sure that your roof won’t be overlooked when it comes time to sell. After all, without a good roof in place, your home will be unprotected, which could lead to some nasty surprises for the future buyers. If you want to take steps to fix your roof before you selling, here are a few things that you should focus on:
If you have missing shingles, you can expect your home’s resale value to decrease. Even if the shingles haven’t been missing for long enough to cause any water damage, missing shingles still communicate to buyers that you don’t take much pride in your home. To prevent this misconception, it’s important to inspect your roof before you sell your home and make sure that any missing shingles are replaced.
Although people like their home to be unique, one home feature that this doesn’t always extend to is the roof. Unique roofing materials such as metal, clay tiles or wood tend to not be used as often because of the popularity of asphalt shingles. Therefore, if you have one of these unique materials on your home, your potential pool of buyers could be limited. The good news, though, is that for a buyer who’s looking for a unique roof, your home will be a must-have item.
A simple factor that impacts your home’s resale value is the age of the roof. Since most shingle roofs have about a 20-year lifespan, if your roof is approaching that age, it could lower your home’s value. Since replacing a roof can be a big expense, a buyer may try to ask you for some concessions to help cover the cost of a new roof, which could lower your profit from the sale. If you can get a good deal on roof replacement, it may make sense to go ahead and replace the entire roof before you list your home for sale.
The roof lines of a home can add a lot of drama to its exterior appearance. If your home has modern roof lines, then you’ll likely be able to fetch a higher selling price than if the roof lines appear dated. Of course, if you have a timeless roof line, such as a gable roof, then your home will likely sell well any time you place it on the market.
A great way to avoid surprises with your roof when you sell your home is to properly maintain it while you own your home. By having it inspected every few years, you’ll be able to stay on top of any potential problems so that they don’t become deterrents to future buyers. This will help make your selling process easier and help you to receive a higher selling price.
Tips for first time buyers, like when choosing any new job, the more you understand and know, the better things are very likely to go. The exact same goes when purchasing a house for the first-time . Together with our first time buyer suggestions, you need to be able to prevent lots of the issues that could stop your purchase from moving nicely.
Let us take a peek at a few of the critical points to take into consideration before you jump to the housing market and purchase your first property.
Getting Ready
Among the most crucial methods for first-time homebuyers would be to be certain that you are able to afford to purchase. Renting an apartment is far different than owning a house. With homeownership comes a different amount of fiscal obligation. The necessity to have your fiscal house so well ahead of time of setting the deposit up to your residence is vital.
Down Payment
You have to have money stored for your deposit . The quantity you want will be based on the lender and the sort of loan that you select. Lenders prefer for you to get a down payment of 20 percent, however you can eliminate only 3% of the cost when you have good creditscore. But, even 3% will be tens of thousands of dollars for an average priced house.
Closing Expenses
There are lots of fees to pay if purchasing a house. A number of these will have to be paid at closing. You ought to budget for somewhere between 2% and 5% of the mortgage sum. Sometimes sellers are willing to assist with closing prices to make matters easier for the purchaser.
Moving In
The prices do not end as soon as you’ve purchased the house; you still will need to cover to proceed in. This may entail choosing a moving company , if you’re so inclined, you can do the transfer yourself. There might also be additional costs like repairs shortly after you have moved in.
Improving Your Credit Score
A lot hinges in your credit rating because it decides the mortgage you’ll be offered along with the rate of interest you’ll need to cover the loan. There are a number of things that you ought to do before applying for a loan to assist.
Check your credit reports and resolve any errors. Errors might be negatively affecting your score, get in touch with the proper agency to take out the issue. Be certain that you pay bills on time, and do not close any accounts or apply for fresh ones before closing on your property.
Picking a Mortgage
There are a couple of distinct kinds of mortgages to select from. They offer you an assortment of benefits for first-time buyers, from reduced down payments without down payments in any way.
Traditional Loans
Government applications do not back traditional mortgages, but there may still be great offers for first-time buyers. You ought to be able to locate mortgages with down payment requirements as low as 3%.
FHA
The Federal Housing Administration (FHA) backs the FHA loans application. Their greatest down payment deal requires 3.5 percentage of their cost to be supplied by buyers. FHA mortgage applications are among the most popular amongst first-time homebuyers. There are many advantages to FHA loans.
VA
If you’re a veteran or currently working out, the VA loans application provides great terms. They permit you to purchase with no cash down and also have lower prices too. Whenever you’ve served your nation, the VA mortgage program is among the most appropriate for first-time buyers.
USDA
The Department of Agriculture presents rural homebuyers the prospect of purchasing with no deposit too. If you reside in a region where the population is below 30K individuals, you may want to research a USDA loan.
First-Time Buyer Assistance
There may be help from your local or state authorities if you’re a first-time purchaser. There might be low-interest mortgages, in addition to help with down payments and closing prices. Check in your own county and city government sites to discover what’s available.
Comparing Loans
To be certain to have the best mortgage for you, compare prices from various lenders. They are going to have different charges and interest rates that may make a substantial difference to the amount you need to pay over the duration of this loan. Some lenders may give the opportunity to decrease your interest through purchasing discount points, and all this has to be compared.
Preapproval
When you’re pleased with what a creditor is offering, you will need to acquire pre-approval. A pre-approval letter will reveal real estate brokers that you’re a serious buyer that can find the loan required, which might provide you an edge over other buyers.
When you receive pre-approved, you will really discover how much you can afford to spend on a house. They’ll examine your earnings and expenses, to find the maximum they are willing to loan to you.
Finding Your New House
The very first step when beginning your search is to select your realtor. They’ll be working on your own side through all phases of this home-buying procedure, and that means you want to have confidence in them. It’d be best if you tried to get referrals from people that you know then contact the brokers to realize how they could assist you as a first-time purchaser.
Selecting Your Neighbors
Deciding which area to live in will earn a great deal of difference to your own experience of residing in your new residence. Pay attention to the place that you would like to move to so you are aware that it’s the type of place you will be pleased in. Visit at different times of the day to make sure and assess the accessible amenities in the region.
When you understand the place that you would like to proceed to, your realtor can help you to find the house you desire. Decide on a kind of house that meets your lifestyle requirements and your budget. A house in need of renovation will probably be more affordable, however you’ll require the budget to produce the required improvements. Tons of first-time buyers underestimate the expenses connected with fixer-upper houses.
Purchasing Your First Home Tips
Once you’ve found the ideal house for you and had an offer accepted by the vendor, you have to do a couple more things before the house is yours.
A house inspection is a good idea to be certain that there aren’t issues that will make you regret your choice. The contractor will thoroughly assess the principal elements of the house to evaluate the status. This will offer you a better comprehension of what it is that you’re hoping to purchase and alert you to any issues with it. Knowing the way the house inspection functions is vital to get a first-time homebuyer.
It’s possible to attend the review if you’d like. This enables you to ask questions to find out about the house’s problems and how severe they are.
Negotiations
If the home inspection finds any essential repairs, then you are able to negotiate with the vendor to get them fixed. When they don’t need to do so, it is possible to ask to decrease the home cost to pay for your future repair requirements.
If you’re fighting to save enough cash to cover both the deposit and the closing costs, you can ask the vendor to donate to your final costs. Should they do assist you, so which you are able to continue with the buy, you want to know about any rules your creditor might have concerning the amount they could contribute.
In any discussions you have with the vendor, you’ll be in a stronger position when there are fewer buyers in the market. Whenever there’s a great deal of competition for houses, with a number of buyers vying for every home, you’ll have a tricky time getting concessions by the vendor.
When the market is hot, you might discover the vendor won’t negotiate in any way. You are going to wind up having to choose in the event that you truly need the home or not. On occasion, whenever there are significant difficulties, it could be better simply to walk off and get your earnest money-back .
Home Insurance
Another thing you’ll have to cover is house insurance. This will be needed by the creditor to ensure that the expenses of rebuilding the house are insured should the worst occur. First-time homebuyers need to have a firm comprehension of the fundamentals of home improvement.
Final Thoughts About Buying Your First House
Purchasing a house for the very first time is an wonderful feeling. You’ve entered another phase of your life using much more responsibility. Nobody said homeownership was simple. It’ll be your responsibility to take advantage of it.
Hopefully, you’ve found these first-time homebuyer suggestions to be helpful. When you are ready to make that big purchase a home contact a Realtor with Preferred Properties of Texas
Getting a down payment for your mortgages. Monthly mortgage payments are now cheaper because of the very low rates of interest from the U.S.; nonetheless down payments nevertheless seem to be a roadblock, according to another Zillow report.
In accordance with Zillow, saving for a deposit remains a huge barrier for potential buyers, particularly first-time buyers. In reality, 40 percent of buyers rely upon a gift or loan from family or friends to be able to think of the capital for a deposit.
Since house values have dropped (by 38.3 percent since September 2014), this issue is growing more apparent. At the beginning of 2015, buyers might have had $36,600 as a 20 percent deposit for a house. Compare this to the current marketplace and buyers want roughly $52,000 as the deposit for a median house.
These places in the 50 biggest U.S. metros will be the most economical regarding down payment-to-median revenue ratio: Cleveland, Milwaukee, Pittsburgh and Memphis. California, a high-cost-of-living state, has many areas where houses are tough to save for: San Francisco, San Jose, Los Angeles and San Diego.
“The route to homeownership, along with the economies and wealth-creation advantages that include it, have gotten tougher for most buyers,” explained Zillow senior economist Chris Glynn. “Saving for a deposit is the single most significant challenge many prospective homebuyers face, and it’s particularly difficult when incomes don’t keep pace with house worth. Even 
still, many buyers feel that costs will slide out of reach in forthcoming years and desperately wish to lock in low mortgage rates while they could, which is probably contributing to the urgency we are seeing on the industry. The present environment is a double triumph for aspiring homeowners who’ve enjoyed enormous equity benefits and are currently ready to refinance their mortgage to reduce their monthly obligations.”
When your buying a home for sale in Stephenville contact a Realtor at Preferred Properties of Texas
