Real Estate Information Archive

Things Every First-Time Homebuyer Should Know

Wednesday, February 28, 2024

by The Hat Team

Purchasing your first home is a huge milestone…and not one that should be taken lightly. It’s a big commitment and you want to be sure you get it right. It is important that you educate yourself before you begin the home buying process so that you can find the right property and procure the financing for it.

Here are some things you should know as a first-time homebuyer:

PEOPLE INVOLVED IN THE HOME BUYING PROCESS

Entering the home buying process for the first time might feel a little overwhelming. You will have a lot of questions, but don’t worry, there will be people who will guide you through. The first thing to do is to find an experienced, professional Realtor. Your Realtor will assist you in finding your starter home, making an offer, and negotiating with sellers. Another person you should meet with prior to starting your home search is a mortgage lender. Your mortgage banker will help you complete your loan application along with determining the amount you qualify for.

Getting preapproved for a mortgage is an important step that will set you on the right course for buying your first home.

STARTING YOUR HOME SEARCH

I’m sure you’ve heard the saying “location, location, location” in relation to real estate. It exists for a reason. Because location is one of the most important aspects in choosing a home. The first thing you must do when searching for your starter home is determine the area you want to live in. You should take many things into consideration when making this decision. Do you want city, suburban, or country living? What is the reputation of the school system? Are there shopping, dining, and entertainment activities nearby? The answers to these questions aren’t just important for you when you’re living there but may also have an impact on resale value. Remember, this is your starter home, not necessarily your forever home. So, you should take resale value into consideration when choosing the location. Once you’ve determined WHERE you want to look, you can create a list of what you’re looking for in a home. You may have to compromise on some things, but going into your search knowing what you want will make things less confusing.

FINANCIAL IMPLICATIONS

When buying your first home, there may be some expenses that you didn’t anticipate. Don’t risk being blindsided by unexpected expenses. Do your research and make sure you know what you are getting into. Here are some costs you may not have thought of:

Closing costs
Home inspection
Moving expenses
Setting up your new house

Remember that your Realtor and Mortgage Banker are there to answer questions you may have, so don’t hesitate to take advantage of their expertise!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information.

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True or False? Homeowner Tax Myths

Wednesday, February 21, 2024

by The Hat Team

While there are many perks to home ownership (and tax breaks are a big one!), people who are beginning the journey of purchasing a home may be easily misled by common homeowner tax myths.

First, it is important to note that owning your own home does come with tax benefits. For example, a conventional loan’s PMI (private mortgage insurance), the VA loan funding fee, the USDA loan guaranteed fee, and FHA loan upfront mortgage insurance premiums are each tax deductible per the IRS. But as a first-time homeowner, it’s important that you educate yourself on extended tax benefits so that you will know what you can and cannot deduct. Because, unfortunately, some things you might have heard about homeowner tax perks may not be true.

MYTH: DEDUCTIONS ALWAYS CUT YOUR TAX BILL IN HALF

TRUTH: While it is possible for your home ownership deductions to reduce your tax bill, it is not a guarantee. In order to claim deductions, they must add up to more than the combination of the standard deduction and non-home related write-offs, such as sales taxes or charitable donations. You also will have to itemize your deductions. Timing, in this case, is everything. For example, if you close on your home in April, you will make several mortgage payments throughout the tax year and chances are that you will exceed the standard deduction and write-offs, in which case your tax bill will be reduced. But if you close in November, you might only make one mortgage payment in the taxable year and you likely won’t exceed the standard deduction, meaning this is one homeowner tax perk that you won’t be able to enjoy until the following tax year.

MYTH: EVERY PAYMENT MADE AT CLOSING IS DEDUCTIBLE

TRUTH: Some closing costs are deductible. Not every fee you pay at your home closing can be written off. The following closing costs ARE deductible: real estate taxes, mortgage interest, and PMI (private mortgage insurance). You will not receive a tax break for your homeowner’s or flood insurance premiums. The same applies to appraisal fees, escrow accounts for property insurance and taxes, and title insurance.

MYTH: HAVING A HOME OFFICE IS A GUARANTEED DEDUCTION

TRUTH: Having a home office can indeed provide a deductible…for those who qualify. You must keep in mind that the IRS’s definition of a “home office” is very specific. The following will qualify you for a home office deduction: you are self-employed, own a small business, work from home and have turned one of your home’s rooms into your office space. If you just work from your couch with your laptop, it doesn’t qualify as a “home office” in the eyes of the IRS.

If you fill out a W-2, your home office is NOT deductible.

Purchasing your first home can be an overwhelming and sometimes intimidating process. Educating yourself about homeowner tax breaks is one step you can take toward becoming a knowledgeable, prepared home owner.

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334=834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information.

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What Makes a Homebuyer Fall in Love at First Sight?

Wednesday, February 14, 2024

by The Hat Team

Perhaps you have imagined your dream house. You’ve pictured it in your mind and can only hope that you can find it in real life. Some buyers must look for a long time before finding the home of their dreams, but others know right away. When reality matches the vision you have for your home, you might fall in love at first sight.

Here are some things that make buyers know they had found “the one” the moment they see it:

A GORGEOUS FRONT PORCH

Nothing says “welcome home” better than a beautifully appointed front porch. A creative front door with porch railings painted a complementary color are a great way to draw a potential buyer into a home. That first look can make or break the interest of buyers.

STANDING OUT AMONG THE CROWD

That neighborhood full of “cookie cutter” houses may be the right area for you, but you don’t want your house to look like everyone else’s. A home that stands out is the one for you. For example, maybe that one white brick house in a sea of red brick houses is just different enough to make it the right one for you.

LAYOUT

Open concept has been popular for a long time, but maybe your dream house affords more privacy. When you walk into a home that has defined rooms that serve specific purposes, you have found what you have envisioned as the perfect home for you.

THE GREAT OUTDOORS

Perhaps the inside doesn’t matter quite as much as the outside to you. Despite the imperfections in the house itself, that huge, beautiful yard is all you ever wanted. Or maybe you see a diamond in the rough well worth “fixing” if it means living in a beautiful neighborhood with mature trees and walking trails.

GOOD BONES

If your dream house is one that you want to design yourself, then you might just fall in love with a fixer upper that has good bones. Just make sure to educate yourself about what it will take to make the vision you have for your home a reality.

There are many things that can make a buyer fall in love with a house at first sight. A professional Realtor like Sandra Nickel can help guide you through the process of finding and purchasing your dream home.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information.

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3174 Lexington Rd: Charming Cloverdale Home with Stylish Updates!

Wednesday, February 14, 2024

by The Hat Team

3174 Lexington Road, Montgomery, AL 36106

MLS# 552107

3 Bedrooms | 2 Baths | 1,533 Square Feet | Cloverdale/Idlewild

Love the charm of Cloverdale but looking for stylish updates too? Then this is the one for you! Entering this house, it's impossible to not fall in love with the unique arched front door! Then you're immediately greeted with beautiful hardwood floors and ample amounts of natural light! The living room, dining area and kitchen are all open creating plenty of space for the family or entertaining friends! The kitchen has updated counter tops, subway tile and cabinetry making cooking a pleasure. Wait until you see the master suite! The recessed ceiling and lighting add a touch of elegance to this room! Along with that, the updated bathroom includes a double vanity, gorgeous counter tops and a tiled walk-in shower surrounded by glass. The guest bedrooms are spacious, and the guest bathroom has a claw foot tub! The large backyard is spacious enough for cookouts, garden beds or anything else your heart desires! Don't miss your chance to see this beautiful house that's only minutes away from everything Cloverdale has to offer!

Marketed by Montgomery AL Realtor, Alison Bertschy, Sandra Nickel Hat Team!

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Exploring the History of the Civil Rights Movement in Montgomery

Wednesday, February 7, 2024

by The Hat Team

As the birthplace of the Civil Rights movement, Montgomery, AL is considered one of the best historic cities in America. From historical sites, to museums, to memorials, there are a plethora of things to see and learn in this wonderful southern city.

The modern Civil Rights Movement began when Rosa Parks refused to give up her seat to a white man on a Montgomery bus. Throughout the following year, the Reverend Martin Luther King, Jr., a 26-year-old local Black pastor, led the Montgomery Bus Boycott. You can visit the Rosa Parks Museum at Troy University where you will see an active memorial to the life of this civil rights icon. You will learn about how the lessons of the Montgomery Bus Boycott brought racial integration to transportation and international attention to civil rights. Located in Downtown Montgomery at the site where Mrs. Parks was arrested, it is the only museum in the United States dedicated to Rosa Parks. The mission of the Rosa Parks Museum is to honor her legacy and the boycott that started the Civil Rights Movement. Visit the Rosa Parks Museum

The Civil Rights Memorial Center (CRMC) is a project of the Southern Poverty Law Center (SPLC). It serves as the interpretive center for the Civil Rights Memorial, which honors those who participated in the movement and provides inspiration to those who visit to continue working for racial equality and social justice. CRMC

Right around the corner from the CRMC, you will find the historic church where Martin Luther King Jr. served as pastor during the Montgomery Bus Boycott. Dexter Avenue Baptist Church was an important fixture during the 1955-1956 boycott, which served as a protest against racial discrimination and provided a model for other peaceful protests and demonstrations. While there take a look around the Parsonage Museum where Mr. King once lived. Then stop by The Alabama State Capitol, recognized as an official destination on the U.S. Civil Rights Trail, to see where the Selma to Montgomery March for voting rights culminated on the capitol steps. This is where Dr. Martin Luther King, Jr. made one of his most memorable speeches to an estimated 25,000 people.

Visit The Legacy Museum: From Enslavement to Mass Incarceration to see displays representing the history of slavery and racism in America. Learn about the horrors of racial discrimination such as lynchings, segregation, and racial bias. Then stop by the National Memorial for Peace and Justice, which is also known as the National Lynching Memorial. This memorial honors the black victims of lynching in the United States. It consists of a memorial square with 805 hanging steel rectangles, each representing a U.S. County where a documented lynching took place. You will also see sculptures that depict themes related to racial violence.

Discover how groups of volunteers made history in 1961 by protesting segregated travel throughout the south at the Freedom Riders Museum. Calling themselves the Freedom Riders, they crossed racial barriers in depots and on buses. Young Freedom Riders stepped off the bus at the Montgomery Greyhound Station on May 20, 1961. Despite threats of violence, they persevered and helped to end racial segregation in public transportation.

Whether you are lucky enough to live in Montgomery, Alabama or you are just visiting, take time to explore the rich history it offers and learn all about the U.S. Civil Rights Movement!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information.

Photo credits: warrensculpture.com, nps.gov, wikipedia.com, ahc.alabama.gov, wikipedia.com

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3264 Le Bron Rd: Classic Historic Features Await in this Cloverdale Charmer!

Friday, February 2, 2024

by The Hat Team

3264 Le Bron Road, Montgomery, AL 36106

MLS# 551684

3 Bedrooms | 1 Bath | 1 Half Bath | 1,815 Square Feet | Cloverdale/Idlewild

This Cloverdale charmer offers the best of both worlds! Classic historic features you would expect in a vintage home, with improved amenities like a new roof, updated electrical, tankless water heater and more. Half bath added for guests, hall/main bath updated with glass/tile walk-in shower and separate tub, and beautiful spacious kitchen with new appliances, new cabinets, and gorgeous countertops. Bonus room has closet and could be 4th bedroom, den, home office, or playroom. Cozy covered deck overlooks lush, fenced backyard with small shed and covered RV parking! Located just a couple of blocks from Cloverdale Bottom Park which hosts spring concerts, festivals, a playground for the kiddos, and neighborhood holiday celebrations. Walk to restaurants, bars, theatres, and shopping.

Marketed by Montgomery AL Realtor, Ali Bertschy, Sandra Nickel Hat Team!

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