Tag: home buying tips

Tips on the Home Buying Process

Tips On the Home Buying Process

Buying a new house can be such an overwhelming process. There are so many factors to consider: Is the garage big enough? Is the A/C unit working? Is this the best price for the area? It shouldn’t be such a daunting task, which is why working with a professional real estate agent helps!

To take advantage of the market and make the house hunt a bit easier, Jenelle suggests that buyers:

 
1. Do your homework

These are a few questions to get this process started:

  • What are you looking for?
  • Are you looking to rent or to buy?
  • Do you want 1 or 3 bedrooms? 1 or 2 bathrooms?
  • Do you dream of having a pool or an open-concept plan?

Decide what features you want and how much you are willing to pay for them before you start your search. This will not only save you time, but it will also help us, as your Realtor’s, find you the perfect based on your home buying criteria.

 
2. Be realistic

While it’s easy to dream of having a 4,500 square foot home will all the luxurious bells and whistles, it’s important to remember that there is no such thing as the perfect home. So, be flexible and have realistic goals for home features and your budget. 

Most importantly, be ready to compromise. One home may have the professional kitchen set-up that you want, another may have the outdoor barbecue that is a priority on your spouse’s list. Be ready and willing to take the best of each house and know that you may have to let go of some items from your wish list in order to find the right house at the right price.

 
3. Get a home inspection

It’s one thing to trust in people, but it’s a whole other thing to have certainty of what you are purchasing. Getting a home inspection is your right as a buyer. This is your opportunity to find out more about the property you are interested in that may not be visible but that can materially affect the value and condition of the home. It also gives you a realistic expectation of repairs needed and additional costs involved in the purchase of the property.

A home warranty, which can be negotiated, is important to purchase in case of defects or other issues that may be a concern. When making a large investment, you want to have peace that you are getting what you

are paying for, that everything is working, and that no issues will pop up as soon as you move it. Getting a home inspection and a home warranty provides you with that peace.

 
4. Know your moving date

Go into the negotiation with the knowledge of the date you need to move and any flexibility you may have. If you’re not in a rush to move in, no problem. But if you’re moving due to a job relocation, it’s important to ensure that you are settled in and not carrying boxes while getting used to your new job. It’s also important to know what dates you need to be out of your current home, when school starts (if you have kids), and any other important occasions that may have a time-sensitive timeline.A flexible moving date can be an asset in negotiation.

 
5. Decide your future

Before your search, confirm your long-term goals. Decide if this will be a temporary home or your forever residence. Do you see yourself growing your family in this home, or do you plan on starting small and growing as the years go by?

 
6. Fine-tune your finances  

Do you have a budget? Are you willing to go over if you find the house, or are you sticking to it? Compare how much you can afford versus how much you want to spend monthly. Get your credit score in line and get pre-approved for a mortgage. This will make your buying experience smoother, decrease stress, and make the whole process more enjoyable.

 
7. Don’t ask friends

When making a big decision, we usually run to all our friends and ask for their opinion. The problem with that is that everyone will have a different opinion, and it will only frustrate and stress you out more. Rely on the opinions of one or two people you trust; more than that will only confuse and confound you.

 
8. Work with a Realtor

It’s so easy nowadays to do a Google search and find hundreds of homes for sale by yourself. However, it is important to have professional advice in this fast-changing market. It is your best insurance in making the best purchase possible.

Work with a Realtor that understands the area you are looking to purchase in. They will be able to provide you with the best advice on location, as well as impart wisdom on the buying process, dealing with

sellers, and negotiations.

Save yourself the stress of scrolling through dozens of pages of homes, and let us help you find the perfect fit for you.

Waypointe Realty is a “5-Star Rated” real estate brokerage focused on serving YOU and your needs, even if we have to wait. We go at your pace and find you what you feel comfortable purchasing WITHOUT PRESSURE! We guarantee you’ll love the home you purchase with us, or we’ll help you sell it for FREE! With these simple tips, finding your dream home is easier than ever. 

If you need help finding your next home in the Oviedo area, contact us. One of our professional Realtors would love to sit down and walk you through the entire process through our complimentary Buyer’s Consultation.

 

Buyers Beware: Plumbing Red Flags You Need to Know

Purchasing your new home can be an exciting experience. However, this task does not come without its difficulties, as there are a multitude of factors that you must keep in mind to find the perfect home. One of those crucial aspects that is often overlooked is finding the right plumbing for your safety and needs. Today, we will learn about three different types of piping; examining a brief history of each variety, potential risks associated with the piping, and how to spot these various piping systems.

Polybutylene Piping

Polybutylene Piping ! This piping system was inexpensive and convenient, making it a relatively popular option and was common in homes in the 1980s and 1990s. They were discontinued because of failures at the plastic fittings.

Unfortunately, there are a multitude of problems associated with polybutylene piping. Some of these include:

  • Chlorine may react with polybutylene, partially decomposing the metal.
  • Polybutylene leaks can be extremely devastating; often causing tens of thousands in damage.
  • These piping systems are older, making them more susceptible to leakage.
  • Often times, insurance will not cover damage from polybutylene piping due to its tendency to cause problems.

Insurability

While there are some insurance companies out there that may offer limited water damage of $10,000, the majority of the carriers will not offer a policy if there is any polybutylene piping in the home. It would be a good idea in looking into getting it replaced.

These are just some of the problems associated with polybutylene piping. 

So how can you tell if you have polybutylene piping?

There are several identification elements that you may use to determine if your pipes are polybutylene. First of all, these pipes will always be flexible unlike some other types of piping. Additionally, this style of piping is typically marked with an identification code of: PB2110. Lastly, these pipes most often have a gray, blue or black color. 

Copper Piping

Copper piping is a tried and true piping method. It dates all the way back to the 1930s, and is still a prominent piping option today. The only concern with copper piping is it will corrode over time so please consult a licensed plumber to make sure the copper pipes are in good condition.

Although copper piping is one of the more reliable varieties of piping, there are still a couple of issues associated with it.

  • Copper pipes are prone to pitting corrosion, where buildup in a small area causes a tiny leak.
  • Compared to other options, copper piping is quite expensive.
  • Copper may not be a great system for hot water, because it loses heat quickly.

Insurability

This is an acceptable type of piping for insurance companies and is very common in most homes, but insurance companies will want you to replace them as soon as possible.

How to Spot Copper Plumbing

Copper piping systems are relatively easy to spot. Whenever they are first installed, they will have a brighter look, similar to a new penny. As they age, the copper begins to react with water and turn a brown color. 

Pex Piping

Pex piping (or crosslinked polyethylene) is a newer plastic that is fashioned into a flexible pipe. Pex piping has been around a long time but was used in residential homes in the early late 90’s early 2000’s.

Some have no issues with pex piping and some companies will want to see pex piping no older than 2010.

Pex piping systems are a great option, but there are some problems that come with this specific type of piping system. 

  • Pex pipes often leach harmful chemicals from pipes, exposing your water to contamination.
  • If Pex piping is in sunlight, it is susceptible to decomposition.
  • This variety of piping is not the best choice for the environment.

Insurability

Each insurance company has different guidelines when insuring homes with pex piping so please ask your agent if the insurance company you are looking to go with has any issues with that particular kind of piping. Please consult a licensed plumber to make sure the pex is in good working condition.

Despite some of the disadvantages, Pex piping is generally a durable option for your home. 

Identifying Pex plumbing

If you are trying to identify Pex piping, there are a few noticeable ways to distinguish it. First of all, you have Pex piping if it is made out of plastic. Additionally, the pipes will often be a bright red or blue color. 

Hopefully this guide helped you build a better understanding of the various types of piping used throughout homes. Use this knowledge to determine the best piping system for your needs while you are searching for your new home.

Article was written with assistance from Brightway Insurance’s Joshua Amos: 321.363.5500

What to Ask When Choosing A Lender

When looking at purchasing a home and acquiring a loan, you’ll be doing some research on lenders. Here are a few questions to ask when choosing a lender to choose the one that best meets your needs:

1. What are the most popular mortgages you offer? Why are they so popular?

2. What fees are included in the loan; and what fees will be due at closing?

3. Are your rates, terms, fees and closing costs negotiable?

4. Do you offer discounts for inspections, homeownership classes or setting up automatic payments?

5. Will I have to buy private mortgage insurance (PMI)? If so, how much will it be and how long will it be required?

6. What are your escrow requirements?

7. What bill-pay options do you offer?

8. What would be included in my mortgage payment (homeowner’s insurance, property taxes, etc.)?

9. Which type of mortgage plan would you recommend for my situation?

10. Who will service this loan – your bank or another company?

11. How long will the rate on this loan be locked-in? Will I be able to obtain a lower rate if the market rate drops during the lock-in period?

12. How long will the loan approval process take?

13. How long will it take to close the loan?

14. Are there any charges or penalties for prepaying this loan?

15. How much in total will I be paying over the life of this loan?

16. Can you tell me how much my monthly payment would be for what I qualify for?

These questions can help prompt an educational discussion with potential lenders that keep you informed and aware of your options and the loan process when purchasing a home.

Ready to start? Contact us for a list of the lenders we trust and work with. Once you have your pre-approval, we’re ready to start the home search process.

 

Why Choose a Realtor?

Here at Waypointe Group we focus on helping buyers and sellers navigate through the complexities of real estate to secure value on their next real estate transaction. But many people wonder why on earth should I use a real estate company to help me buy or sell my home?

Continue reading “Why Choose a Realtor?”