Homes of Distinction Realty



Posted by Homes of Distinction Realty on 2/6/2020

Image by Chanh Nguyen from Pixabay

Buying a home ranks among the largest purchases everyday people make in their entire lifetimes. If you have gone through the process at least once, you probably gained some valuable life lessons. Whether it’s time to purchase a larger home for a growing family or downsize to a more manageable living space, there are pitfalls that trip up even experienced homebuyers. These rank among the unforeseen issues that can cause setbacks and ways to avoid them.

1: Overcompensating For Past Regrets

When buyers search for their next home, it’s not uncommon to be driven by the perceived shortcomings of the last. For example, you bought a property that had all the living space you need. This may have included a home office, attached garage, and plenty of room to entertain guests. The downside may have been a lack of outdoor living space. Driven by the desire to have a veranda, deck, or big yard, emotion may cause you to compromise on other musts. It may be in your best interest to make a checklist of your needs and be certain you won’t experience buyer’s regret, a second time.

2: Skipping Contingency Planning

It’s not unusual for people to see properties moving quickly in their area and become overconfident yours won’t sit on the market long. The common mistake is to move forward and buy your dream home while expecting only a short period of holding two mortgages. If for some odd reason the market goes dormant in your neighborhood, the financial implications could prove disastrous.

The flipside is selling your hot property and renting as a stop-gap measure. Low housing inventories and competitive markets could land you in a pinch, and home-ownerless for an extended period. These are the reasons why people rely on contingency plans. Craft a deal that sets the homes up like a series of dominoes. When one sells, they all move, and you spend only one day relocating instead of many in a tight spot. Contingencies provide security and stability.

3: Forecasting A Neighborhood’s Future

No homebuyer or real estate professional has a crystal ball that accurately predicts a property’s value. But there is plenty of hard data that can be used to indicate whether a neighborhood is trending in the positive or negative. This may be particularly true in 2020.

Potential homebuyers can look at the pricing that includes listing, sales, and valuations that began before the last recession and lending crisis. You can expect to see a decline in these measures during that rough period. But these days, the economy is robust in many areas. How the property, and surrounding area, performed coming out of the recession could be a telltale sign of where values are heading. The point is to conduct thorough due diligence about the home and others in the neighborhood. Making an informed decision is critical to purchasing a property, regardless of whether you’re a newbie or seasoned homebuyer.




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Posted by Homes of Distinction Realty on 6/25/2017

Having the perfect beach day starts at home— especially if you are taking kids along. Even if you are just going for the day, there is some preplanning that needs to take place. Take a look at the tips below to make sure you have the most successful beach day trip.

  1. Make a checklist: Write out everything that you need to take with you and as your packing it into your beach bag or cooler, check it off of your list. This way you will ensure that you won’t forget anything. This might include things like cash, sunscreen, sunglasses, towels, beach chairs, water, snacks, a change of clothes, etc.
  2. Choose a beach: If you live in New England, it’s likely that you have multiple beaches to choose from. And you might be looking for a different beach experience than the one you always go to. Maybe you usually take your day trip to a popular beach, but you know that it is going to be crowded and full of life. But this time you’re looking for a quieter day, so you might want to visit a private or town beach that doesn’t have a boardwalk and hundreds of people around.
  3. Pack the night before: Along with packing from your checklist, it’s best to pack everything up the night before. And if you are ambitious, pack the car the night before as well (everything but the drinks and refrigerated food).
  4. Set a plan for the day: Make sure all parties involved know how the day will pan out. Do you plan on leaving town at 7am or 9am? Do you plan on packing a lunch or grabbing something at the boardwalk? Do you plan on staying at the beach until 2pm or 5pm? These are all very important things to consider beforehand and to include everyone in on the decision.
Hope that these tips help you hit the road sooner and without a worry— except for where you’re going to set up at the beach.




Tags: family fun   planning   family   checklist  
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