Homes of Distinction Realty



Posted by Homes of Distinction Realty on 8/22/2019

A home inspection report may prove to be a difference-maker for a property buyer, and for good reason. With an inspection report in hand, a property buyer will need to decide whether to proceed with a home purchase or rescind a homebuying proposal. Therefore, a property buyer must allocate time and resources to review a home inspection report so he or she can make an informed homebuying decision.

Ultimately, there are many reasons why a homebuyer should trust the final results of a property inspection report, and these reasons include:

1. A home inspection is conducted by a property expert.

A home inspection is conducted by a property expert who will perform a deep evaluation of a house. As such, a home inspector will provide a homebuyer with a comprehensive report that details his or her findings.

For homebuyers, it often is beneficial to search for a top-rated home inspector. This inspector likely will provide an in-depth report that outlines a house's strengths and weaknesses. A homebuyer then can use this report to make an informed decision about how to proceed with a house.

2. A home inspection is used to assess all aspects of a house.

A home inspection generally takes several hours to complete. During this evaluation, a home inspector will look at a home's foundation, heating and cooling systems and other aspects of a house. By doing so, a home inspector will be able to identify any underlying issues with a residence.

It usually is beneficial to ask questions during a home inspection as well. If you strive to learn from a home inspector, you can boost the likelihood of making the best-possible decision about whether a house is right for you.

3. A home inspection offers insights that property buyers may struggle to obtain elsewhere.

Although a homebuyer may visit a house more than once before submitting an offer to purchase, a home inspection represents a learning opportunity unlike any other. A house inspection enables a homebuyer to examine a residence both inside and out with a property expert. Then, this buyer will receive an extensive inspection report that he or she can review prior to finalizing a house purchase.

If you're preparing to search for a home, you may want to hire a real estate agent. This housing market professional will be able to guide you along the homebuying journey. And once you reach the point where you need to conduct a house inspection, a real estate agent will help you find a top home inspector in your city or town.

Of course, a real estate agent will respond to your homebuying concerns and questions too. As a result, a real estate agent will help you take the guesswork out of buying a house.

Ready to find and purchase a home? Before you finalize a house purchase, perform a home inspection – you'll be glad you did. Because if you review a home inspection report, you can determine the best course of action relative to a home purchase.




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Posted by Homes of Distinction Realty on 8/15/2019

If you’re a first time homebuyer and want to start weighing your mortgage options, you’ll have much to learn. With so much at stake, you’ll want to make sure you choose the best mortgage for you now, and one that will still suit your needs years into the future.

Sometimes, first time buyers are hesitant to ask questions they may consider too basic because they don’t want to seem inexperienced to lenders, agents, or anyone else they’ll be in contact with throughout the home buying process.

So, in this article, we’ve compiled a list of commonly asked mortgage questions that first time buyers might want to ask before heading into the process of acquiring a home loan.

What is the first step to getting a mortgage?

This question may seem straightforward, however the first step can vary depending on your financial situation. For those who already have saved up for a down payment and built a solid credit score, the first step is probably contacting lenders and getting preapproved or prequalified.

However, if you aren’t sure about your credit score and haven’t saved up for a down payment (ideally, 20% of what you hope to spend on the house), then you should address those matters first.

To find a lender, you can do a simple Google search for the mortgage lenders in your area, or you can ask around to friends and family to find out their experience with their own mortgage lenders.

What does it mean to be pre-qualified and pre-approved?

If you think of the mortgage process in three steps, the first step would be getting pre-qualified. This means you’ve given the lender enough basic information for them to decide which type of mortgage you’re eligible to receive.

Pre-approval includes collecting and verifying further details. At this step, you’ll complete a mortgage application and the lender will run a credit check. Once you’re pre-approved, your file can be moved to the underwriting phase.

What are closing costs?

“Closing costs” is an umbrella term that covers all of the various fees and expenses related to buying or selling a home. As a buyer, you are responsible for paying numerous closing costs. These can include, but are not limited to, underwriting fees, title searches, title insurance,  origination fees, taxes, appraisal fees, surveys, and more.

That sounds like a lot to keep track of, however your lender will be able to give you an accurate estimate of the total closing costs when you apply for your loan. In fact, lenders are required to give you a list of these costs within three days of your loan application in the form of a “good faith estimate” of the closing costs.

What will my interest rate be?

The answer to this question is dependent upon numerous factors. The value of the home, your credit score, the amount you put down (down payment), the type of mortgage you have, and whether or not you’re paying private mortgage insurance all factor into the interest rate you’ll receive. Interest rates also will vary slightly between lenders.

You can receive a fixed-rate mortgage that does not fluctuate throughout the repayment term. However, you also typically have the option to refinance to acquire a lower interest rate, however refinancing comes with its own costs.




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Posted by Homes of Distinction Realty on 8/1/2019

Ready to discover your dream home? With help from your loved ones, you may be able to accelerate your journey from homebuyer to homeowner.

Ultimately, there are many reasons to include family members and friends in your search for the perfect home, including:

1. Loved ones are happy to help you in any way they can.

Loved ones have your best interests in mind and will do whatever they can to assist you. That way, you can get extra help as you embark on the homebuying journey.

Before you begin your home search, it may prove to be helpful to meet with loved ones so that you can explain your homebuying goals to them. This will allow you to describe what you'd like to find in your dream home. Plus, meeting with loved ones gives family members and friends an opportunity to ask you questions about your home search.

If you and your loved ones are all on the same page, you'll be able to get ample support as you prepare to kick off your home search. Then, you and your loved ones can check out a broad array of houses and find one that matches or exceeds your expectations.

2. Loved ones can share their homebuying experiences with you.

For those who are entering the real estate market for the first time or have not purchased a house in several years, it may be beneficial to involve loved ones in the property buying process.

Loved ones who have recently purchased homes can provide real estate insights that you may struggle to obtain elsewhere. They can respond to your homebuying concerns and queries and help you prepare to enter the housing market.

Also, loved ones may be able to help you avoid potential pitfalls as you search for the ideal residence. Although some family members and friends may have made mistakes when they bought homes in the past, your loved ones can help you learn from their errors and ensure you can avoid various homebuying pitfalls.

3. Loved ones can help you make tough homebuying decisions.

Let's face it – the decision to buy a home is one of the biggest that an individual may make in his or her lifetime. As such, the decision to purchase a home is not one that should be taken lightly.

Loved ones are happy to listen to your homebuying concerns time and time again. They can offer suggestions and recommendations as you explore homes and help you remain calm, cool and collected at each stage of the homebuying journey.

Of course, if you want additional assistance during the homebuying journey, it never hurts to hire an expert real estate agent. This housing market professional can set up home showings, negotiate with home sellers on your behalf and provide comprehensive homebuying support at any time.

Reach out to loved ones for support as you get ready to search for your dream home. By doing so, you may be able to speed up the homebuying process.




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Posted by Homes of Distinction Realty on 7/18/2019

The location of the homes you’re looking at in your search is key. You probably have at least a couple of cities and towns narrowed down, but do you know specifics? Is there a particular neighborhood that you would prefer to live in? The street that you choose to live on will also have a lot to do with the way that you conduct your life. If you live on the main road, for example, you’ll face a lot of noise and traffic. If you have kids, that may not be the ideal situation. There’s many reasons that living on a dead end street is the ideal situation. Be on the lookout for homes on cul-de-sacs and dead end streets in your home search. Read on to see the many advantages of living on a street that’s not a throughway.


The Traffic Is Significantly Less


There are very few cars that head down a street that’s not a throughway. No one will be using your street as a shortcut. This makes it much safer for children to play outside and it reduces noise in the neighborhood. 


There’s A Sense Of Security


Since there isn’t a lot of traffic on a dead-end street, it‘s easy to identify strange cars that are lurking around. The people in your neighborhood will all be more alert to any kind of unusual activity on the street. This allows for a more secure feeling in your own backyard. 


A Dead End Street Is A Great Place To Raise Kids


Your kids will have a bit more freedom to play and be kids when you live on a dead end street. There’s less traffic to worry about while the kids play, yet you have a great opportunity to teach your kids about traffic safety rules and how to act around strangers. Your children will also become close with other children in the neighborhood. The adults who live in your neighborhood will become acquainted with your children as well. You’ll definitely appreciate a tight-knit community if you have kids. 


Your Property Value Will Stay High


It’s hard to say that a home on a dead end street will decrease in value. With a strong community sense and safety perks, these homes will be in demand. When you do decide to sell your home, you’re sure to get a good return on your property investment if you choose a home on a dead end street.




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Posted by Homes of Distinction Realty on 7/4/2019

Believe it or not, you don't need to be a homebuying expert to score a great deal on your dream residence. In fact, there are many things you can do to find and acquire a house that won't force you to break your budget, and these include:

1. Shop Around

When it comes to conducting a home search, it generally is a good idea to be thorough. If you search for residences in a variety of cities and towns, you can boost the likelihood of finding a home that you can afford.

Also, it is important to remember that scoring a great deal on a residence usually requires hard work and patience. If you perform lots of housing market research, you can gain deep insights into the real estate sector. You then may be able to use housing market insights to find ways to speed up the process of locating and purchasing your ideal home.

2. Get Pre-Approved for a Mortgage

If you have a mortgage in hand when you start your home search, you will be better equipped than other buyers to pounce at the opportunity to acquire a budget-friendly home.

Typically, it won't take long to get pre-approved for a mortgage. If you meet with myriad banks and credit unions, you can explore all of your home financing options. Then, you can select a mortgage and perform a home search with a budget at your disposal.

If you have questions about a mortgage, there is no need to worry, either. Banks and credit unions employ courteous, knowledgeable mortgage specialists who are happy to respond to your home financing queries. Therefore, these specialists can help you make an informed mortgage selection.

3. Collaborate with a Real Estate Agent

A real estate agent is a homebuying professional who will help you find a terrific house at an affordable price – without exception. He or she knows what it takes to perform an in-depth home search, and as such, will take the guesswork out of acquiring your dream residence.

In addition, a real estate agent offers comprehensive homebuying insights you may struggle to obtain elsewhere. If you are unsure about where to search for a home, for example, a real estate agent can help you hone your homebuying criteria. Or, if you are uncertain about how much to offer to acquire your dream residence, a real estate agent will help you submit a competitive homebuying proposal.

A real estate agent is available to assist you in any way possible as you navigate the homebuying journey, too. That way, you can get the help you need to seamlessly go from homebuyer to homeowner.

For those who want to purchase a first-rate house at an economical price, it helps to prepare for the homebuying journey. By using the aforementioned tips, you can move quickly to find a home that falls in line with your finances. As a result, you could accelerate your home search and acquire your ideal residence in no time at all.




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