Preferred Properties of Texas

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Maintaining Your Vacation Home From Afar

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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.

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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

Thinking Of Buying A Vacation Home?

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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.

  1. 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.
  2. 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.
  3. 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

There Are Many Signs That The Home You’re Buying Will Have A High Resale Value

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Although it may seem premature to consider selling your home before you actually buy it, it is important to remember that a house can be an investment. In an ideal world, investments would make money and not lose it.

When house hunting, resale values should be considered. It shouldn’t be the only thing that you consider when buying a house. If you want 20 acres or lakefront access, should be your priority. You will be happier if you can predict the future appeal of the house you are buying and the surrounding area it is located. You might even be richer.

Buyers will save a lot of money by considering resale values. They won’t have to spend a lot on renovations and updates. A high resale price is not a guarantee.

Because of the effect of the local market and economic factors, it is difficult to ensure that a home will retain its full value.

When house hunting, pay attention to the surroundings. Is it easy to get around the neighborhood? Is it possible to walk to the grocery store without having to stop for snacks? Are there nearby restaurants for those evenings you just cannot?

You won’t get a high return on your home if it isn’t well-developed or has poor infrastructure.

A home purchase is a study of contrasts. You need a beautiful kitchen and good delivery options. Five bedrooms is the minimum requirement. You also need a decent hotel nearby. Your mother-in-law will not be staying with you. You want everything to be bustling, but not in your backyard.

There are buyers, and maybe even you, who love to live in the middle all the action. Be aware that your future buyers may not be as keen to buy the bungalow right next to your favorite watering hole.

Many people view return on investment as the sum of simple calculations: Will your home sell for less than what you paid?

The inspector will give you an overview of the health of your home. However, it is important to pay attention to the roof, foundation, HVAC system, windows and doors. You should also pay attention to electrical and plumbing. Any problem with one of these systems could lead to a costly repair that can take a chunk out of your paycheck.

 

To read more click on original blog: https://www.realtor.com/advice/buy/home-youre-buying-good-resale-value/

Do Ponds Add Value To Your Property?

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People love to live near water bodies where they can swim or recreate. Some people prefer the ocean or a lake to be their favorite body of water. People are building ponds to access the water on their property, so that they don’t have to leave their land. This trend is a good investment. However, landowners will need to find out how much a pond can add to their property before they dig up their land.

A pond can add value to your property by creating beautiful scenery and recreational opportunities. A pond could be a good idea if your property has large acreage that is not yet developed and located where a pond can easily be dug. Most ponds built in recent years have a size of one-half to two acres.

You may want to stop developing your land if your property is small or not well developed. Foundation problems could result from digging a pond near your home or other structures.

Although a small pond can be a great addition to a property’s value, it will still need to be maintained. Common maintenance costs for owning a small pond include:

  • Vegetation removal
  • Monitoring water quality
  • Health studies on flora and fauna and their treatment

Although all ponds require some maintenance once they have been established, there are ways to avoid significant maintenance costs.

A pond built on your property can be very disruptive. You should consult a professional to determine if it is a good idea. The professional will take a look at the soil and land to provide further information about the development process. After the professional has appraised your land and given you permission to proceed with the pond development process, it is important to meet with the professional to discuss the details and spend time designing and building the pond that you desire.

Experienced professionals will anticipate potential problems when designing a pond. You can also have your design modified to ensure that the pond fits your property.

You will need to ensure that your property is able to support a pond before you consider installing one. A pond will likely increase the property’s overall value if it can be supported. The addition of a pool will increase your property’s overall value. It will also provide you with additional recreational opportunities, which can help you attract more buyers when you sell. A pond will need to be maintained. These maintenance costs can be reduced significantly by planning and designing well.

Original article at  https://land.us/2021/07/does-a-pond-add-value-to-a-home/

 

Take Advantage of Today’s Low Rates Before They Begin to Rise

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Mortgage interest rates in today’s realty market are at or near record lows. If you have owned your home for many years, and haven’t refinanced recently, it’s likely that you have an interest rate on your mortgage that’s higher than the current average.

Many of today’s homeowners are rethinking what they need in a home and redefining what their dream home means. For some, remote work means they need additional space. Some people may choose to move to a less expensive area or downsize. These are great options if you’re thinking about moving.

Today’s rates are less than 3%. But experts predict in the coming years, rates will rise.

Take advantage of the opportunity to get a lower interest rate on your mortgage if it is higher than average. Lower rates mean you may be able to get more house for your money and still have a lower monthly mortgage payment than you might expect.

As mortgage rates rise so does your monthly payment.

Even a slight increase in rate can make a big difference in your monthly mortgage payment.

To keep your monthly payments the same, you will need to consider a home that is less expensive.

Whatever your reason for wanting to move up or down, this is the best time to do it. Even a slight change in interest rate can make a huge difference to your purchasing power.

Consider refinancing if making a move now doesn’t feel right. If you want to reduce your monthly mortgage payments and remain in your home, refinancing may be a good option.

Take advantage of today’s low rates before they begin to rise. Whether you’re thinking about moving up, downsizing, or refinancing, contact Preferred Properties of Texas today to discuss your options.

Preferred Properties of Texas

(254) 965-7775|Contact Preferred Properties of Texas