Real Estate Information Archive

There was a time when there were three mortgage loan types available to home buyers. You could get a Fixed-Rate Conventional Mortgage, an FHA Loan or a VA Loan. But times, they are a changing.  Now there is a vast array of mortgage loan types to be had!  Let’s learn about some of them, and the differences between them.

We will start with the Most Popular:

FIXED-RATE MORTGAGES - These loans come in 5-year, 10-year, 15-year, 20-year, 30-year, 40-year, and even 50-year timeframes and they are all completely amortized.

FHA LOANS - FHA Mortgage Loan types are insured by the government through mortgage insurance that is funded into the loan. This is an ideal loan type for first-time buyers because it has minimal down payment requirements and does not rely on credit scores for approval.

VA LOANS - VA loans are government loans available to veterans who have served in the Armed Forces for the United States. They are also available to spouses of deceased veterans in some cases.  The requirements depend upon the years of service and whether or not the veteran was honorably discharged or not. The primary benefit of a VA Loan is that the borrower does not have to come up with a down payment. The loan is guaranteed by the Department of Veterans Affairs, but funded by a conventional lender.

USDA LOANS - USDA Loans are offered through the U.S. Department of Agriculture for eligible home buyers who want to buy a rural property.  They often come with no down payment required and can sometimes be more affordable than an FHA loan.

INTEREST-ONLY MORTGAGE TYPES – This name is a bit misleading, as these loans are not truly interest-only in terms of the borrower only paying interest on the loan.  The reality of the interest-only mortgage is that it offers an option to make an interest-only payment. This option is only available for a set period of time.  However, there are some junior mortgages that are interest-only and necessitate a balloon payment in the amount of the original loan balance at maturity.

Now, let’s take a look at HYBRID LOANS:

ADJUSTABLE-RATE MORTGAGE TYPES -  There are various types of adjustable-rate mortgages (ARMS). They can fluctuate monthly, semi-annually, annually, or remain fixed for a set amount of time before they adjust.

OPTION ARM MORTGAGE TYPES – These types of loans are complicated. Like your standard ARM, the interest rate on them will fluctuate periodically, but in these loans, the borrowers can choose from various payment options and index rates.  WARNING: The minimum payment option can be dangerous as it can result in negative amortization.

COMBO/PIGGYBACK MORTGAGE LOAN TYPES – This is a type of financing that consists of TWO loans: a first mortgage and a second mortgage. They can be adjustable-rate, fixed-rate or a combination of both.  This is option is used by borrowers when the down payment is less than 20% in order to avoid paying private mortgage insurance.

MORTGAGE BUYDOWNS – A mortgage buy down is a choice for borrowers who want to pay a lower interest rate in the beginning of their loan.  Basically, fees are paid to lower the rate, thus the name buydown. Buyers, sellers, or lenders can buy down the interest rate for the borrower.

Finally, Specialty Mortgage Loan Types:

BRIDGE LOANS – Bridge loans are used when a seller’s home has not yet sold and the seller wants to borrow equity to buy another home.  The seller’s existing home is used as collateral for the bridge loan.

STREAMLINED-K MORTGAGE LOANS – FHA has a program that provides money to a borrower to make home improvements by rolling the funds into one loan. This is similar to the 203(K) Loan Program, but involves less paper work and is easier to get than a 203(K).

EQUITY MORTGAGE LOAN TYPES – Equity loans are second, or junior to the existing first mortgage. Borrowers take out equity loans to get access to cash. The loans can be adjustable, fixed, or a line of credit that allows the borrower to obtain funds on an as needed basis.

SHAERED APPRECIATION MORTGAGES – These are rare in the United States, but shared appreciation mortgages allow home buyers to share part of their property’s value gains with an investor or lender. The guaranteed return to the lender means that the borrower will get a lower interest rate and lower monthly payment on the loan.

REVERSE MORTGAGE – This type of mortgage is for people over the age of 62 who have enough equity in their homes.  Instead of making monthly payments to the lender, the lender makes monthly payments to the borrower for the duration of their residence in the home. Reverse mortgages can be done with either fixed or adjustable interest rates. Please get advice from a trusted advisor before considering a reverse mortgage!

If you are in the market to buy or sell a home, 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://www.homesforsaleinmontgomeryalabama.com/ for more info! 

Montgomery is a spectacular city! Its warm, Southern hospitality, high quality of life, and low cost of living make it an ideal place to work and live. While it is a mid-sized city, it has a small-town feel, giving you the best of both worlds!

You will find everything you want from a big city in Midtown Montgomery; from world-class arts and theater, to excellent health care facilities, to a bustling restaurant and retail area, and while every city has its own unique history, Montgomery is home to some of the most memorable events in American history. There are many family-friendly museums, monuments, and historical sites that celebrate African American history. One particular street is said by locals to be one of the most historic in America!  At one end of Dexter Ave., you will find a large fountain, at another the Alabama State Capitol, and in between, is the Dexter Avenue King Memorial Baptist Church, where Dr. Martin Luther King, Jr. served as pastor in the late 1950s.  This street is also where Rosa Parks refused to give up her seat on the bus. Montgomery is the city where the modern civil rights movement took off, and its rich history makes it an interesting and inspiring place to live.

Midtown Montgomery is home to approximately 193,000 residents. It includes established neighborhoods with charming, historic homes, the city’s two largest business parks, Baptist Hospital, two of the largest private schools in Montgomery: Montgomery Academy (enrollment 858) and Trinity Presbyterian School (enrollment 980), Huntingdon College (enrollment 1,000) and Alabama State University (enrollment 5,600). Midtown Montgomery is convenient to Interstate 85 and Vaughn Road, two highly traveled Montgomery thoroughfares between east Montgomery and downtown. 

If you are a foodie, Montgomery will not disappoint! The people here love their food so much, the Minor League Baseball team is named, wait for it…the Montgomery Biscuits! And living in Midtown provides convenient access to some of the best restaurants in town. There are no shortage of delectable dining experiences in and around Midtown. Cahawba House, a cozy breakfast/lunch spot known for its biscuits, Derk's Filet and Vine, a restaurant and market all in one, and Bibb Street Pizza Company are just a few of the many casual dining options. For fine dining, head to the downtown entertainment district to try Central, a locally owned, and regionally sourced fine dining establishment.

One of the best things about Midtown Montgomery are the neighborhoods. Beautiful, historic homes from Bungalow and Cottage style architecture, to Craftsman style, Tudor and Neoclassical Revivals, sit among mature trees and exquisite gardens; some of them walk-in ready and others a fixer-uppers dream.

Find more information about Midtown Montgomery neighborhoods HERE.

Learn more about life in Midtown HERE.

If you are interested in purchasing a historic home in Montgomery, Sandra Nickel and her Hat Team are the Real Estate Professionals for you!  Sandra and her team are experts when it comes to finding the perfect quaint cottage, bungalow, or mansion in historic Montgomery neighborhoods for their clients. Give them a call today at 334-834-1500 or send them an email HERE and before you know it, you will be living the dream in Midtown Montgomery!

Photo credits: ulc.org, newsweek.com, wtvy.com, watchtheyard.com, central129coosa.com, homesforsalemontgomeryalabama.com

The global pandemic set the world into a tailspin, and one result was that the US economy suffered its largest blow since the Great Depression in the second quarter.  It has been about a year since the housing market was on hold for a few months due to the pandemic last spring, and back then it appeared that the real estate market would go into a steep decline because of widespread stay-home orders. But that has not been the case. Instead, the US housing market has been kept afloat by homebuyers. It turns out that residential real estate has been very resilient. In fact, 2020 was a record-breaking year for the US housing market. And as we enter 2021, housing prices are not falling.

“The typical U.S. home was worth $266,104 in December, up 8.4% (or $20,587) from a year ago. A total of 5.64 million homes were sold in 2020, up 5.6% from 2019 and the most since before the Great Recession, according to Lawrence Yun, NAR’s chief economist. Sales also rose 0.7% from November and 22.2% year over year. Existing home sales reached the highest level in 13 years.”

Just over a month into 2021, the housing market is still super-competitive for homebuyers. The number of active homebuyers is far greater than the number of homes available for sale, and as a result it seems unlikely that the current pace of home price growth will not change anytime soon. Per Realtor.com market data for the week ending February 6, 2021, the median listing prices grew at 12.9% over last year, making it the 26^th consecutive week of double-digit price appreciation.

HOUSING PRICE FORECAST 2021: STEADY APPRECIATION

Right now, across the nation, homes are selling quickly and the number of homes available for sale continue to fall lower and lower. With homebuyers competing for homes, prices will continue to rise. In fact, per economists and market watchers, home values are growing faster than they have in a generation; and there is no sign of them slowing down.

WHY ARE SO MANY PEOPLE BUYING HOMES DURING A PANDEMIC?

With stay-at-home orders, there was a huge rise in remote work which, in turn, created a suburban boom, with an outbound migration from cities. A lack of developed land means that home builders may not be able to meet rising demand, leading home prices to continue to rise in 2021. While some urban cities still lack the supply of homes demanded by buyers in those areas, the pandemic has generated a desire for houses with more space; both indoors and out. Combined with historically low interest rates, you see prices rising greatly from urban-to-suburban markets.

Right now, it does not look like price growth is going to slow.  Per Economic Research, predictions are that annual home value growth will rise as high as 13.5% by mid-2021, and the year will finish with approximately 6.9 million sales, the most since 2005.

Another reason there are so many homebuyers in the market now is due to the March to July period from 2020, when a huge portion of the country was on total lockdown. That is normally busy time for residential real estate, and many people who had planned to buy last year are now looking to buy this year. So, it is supply and demand. Low supply + huge demand = rising prices!

WHAT DOES THIS MEAN FOR YOU?

If you have been thinking about selling your home, now is a great time to do it! 

Sandra Nickel and her Hat Team of Professionals will help you get your house on the market and sold for the best possible price!  Call them at 334-834-1500 or contact them via email HERE. There has never been a better time to sell your home!

The thought of buying a house sight unseen may give you hives, but it is more common than you might think. A 2018 poll, conducted by Redfin, revealed 20% of home buyers made an offer on a home sight unseen.

In a 2017 survey, 45% of Millenial homebuyers said they had made an offer on a home without stepping foot in the home, followed by 30% of Gen Xers and 12% of Baby Boomers. These statistics were long before the Covid-19 pandemic turned our lives upside down. Can you image what current statistics would show?

Buying a home sight unseen can be done safely and intelligently if you are willing to do your homework and put a team of consummate professionals in place. Here are 5 hacks to help you do just that…

1. Become Friends with Real Estate Websites

You will want to spend lots of time on your computer researching not only individual homes, but neighborhoods, schools, crime statistics, transportation, and amenities nearby.

Visiting Open Houses in your current community will help you get a feel for the size home you want and zero in on features you want in a home.

2. Find a Realtor You Trust

Buying a home sight unseen is not possible without finding a Realtor you trust implicitly! Do online research on Realtors working in your new community and then interview a few of your top picks by phone. Be sure to ask for references from previous clients that you may talk to.

3. Take a Video Tour

Many homes listed for sale on the internet include a virtual tour. These tours can give you a feel for the property, but also do a walking tour with your agent. Being able to talk with your agent as he or she walks through the house allows you to ask questions about details a photo can’t discern. Is the floor wood or laminate? Are the countertops granite or quartz? This tour can also reveal problem areas the photographer may have overlooked.

4. Hire a Well Qualified Home Inspector

Having a top notch home inspection is even more important when you are buying a home sight unseen. Having all the major systems checked out and having a report itemizing any problem areas along with recommendations how to how they can be corrected in invaluable.

5. Don’t Sweat the Small Stuff

No home is perfect. This is true whether you are buying a home you choose in person or one you are buying sight unseen. No matter how well qualified your team of experts is, minor discrepancies will occur. Maybe a wobbly ceiling fan will be missed but this is just part of buying a home.

There will be some surprises. Doing your homework and putting an expert team in place will help you eliminate big surprises and handle the smaller ones.

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500!

The decision to move is a big one. Chances are a lot of time, thought and energy went into making it. But now that you have decided, it’s time to start thinking about getting ready for the move. You’ve already answered the “should I stay or should I go” question, now it’s time to ask yourself “what should I bring with me and what should I get rid of”?  Whether you have kept a lot of things because of sentimental value, or you are just a tad lazy and have let things accumulate over the years, it’s time to decide what to keep and what to let go. Here are some things you should definitely “let go” of before you move:

1. Clothes you don’t wear anymore - You know…that dress that you don’t like, but keep just in case you need a dress for something, or that suit that fit a few years ago and might fit again if you can just lose a little weight? Yep. Time to go. Same with any clothes you simply don’t wear anymore, whether because of style or fit. There is no reason to drag them to your next home. If they are in good condition, place them in a donation bag and drop them off. And if they are trash, well…you get the idea.
    
2. Gag gifts and free promotional items - Been to a golf tournament recently? If so, you likely came home with a “swag bag” of sorts. If you consider chip clips, notepads, pens and plastic cups “swag”, then by all means, hang onto it. But if the bag has been sitting on the kitchen counter for weeks, it’s time to say goodbye. Same with any other similar items. Gag gifts are fun to open, but they just end up cluttering your junk drawer. Don’t take junk with you when you move. Trust me…you won’t miss it.
    
3. Kitchen appliances you rarely (if ever) use -  Who even uses a “Fry Daddy” anymore? All that grease and fat? Yuck. Just because it was a wedding gift 25 years ago, doesn’t mean you should bring it along with every move. Any appliance that you haven’t used in over a year needs to go. Why take up space in your moving boxes with something you likely won’t use again? Bye, bye!
    
4. Cheap art - Maybe you were on a tight budget when you were decorating your current home, so you bought some inexpensive posters and art for your walls. If you’ve outgrown them, don’t take them with you. 
    
5. Most things you have more than one of - I bet you’ve replaced a lap top or cell phone during the years you have lived in your current home. And how many new pairs of eye glasses have you gotten during that time? I also bet that when you replaced those items, you didn’t get rid of the original items you were replacing. Am I right? Well, now is the time my friend. Outdated technology doesn’t have to end up in a landfill, nor does it need to stay with you forever. Take it to be recycled!  And you can donate all those old eye glasses to Lion's Club International where they will distribute them to people in need. Electronics: Recycling and Donating
    
6. All the fancy bath products you got as gifts - Seriously. If you haven’t use them yet, you probably never will. If you have a stash of bath bombs and such that you’ve been waiting for the perfect time to use, either use them before you move or get rid of them. 
    
7. Stuff you borrowed from friends - As you’re cleaning out cupboards and closets you may come across items you borrowed long ago. Or items friends left at your house after a party of cook-out. GIVE THEM BACK.  You might be a little embarrassed if a lot of time has passed, but your friends will appreciate it and it will be one (or two, or three) less things you have to pack and move.
    
8. Anything you forgot you had to begin with - If you come across something that you have genuinely been missing and thought was lost forever, yay! That’s awesome. But if you come across something that you are surprised you ever had to begin with? It goes.
    
9. Stuffed animals - Sigh. Even as a grown-up this one can be tough. They are so cute and cuddly. But depending on how many there are, they can take up a lot of space. Pick a few favorites if you must, and keep your childhood favorite. But if you have a huge collection (whether they are yours or your children’s) I recommend you weed out as many as possible. 

The bottom line is, the less you have to pack, the less overwhelmed you will feel about your move. Less truly is more…more time, more energy, more peace of mind.

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500!

Photo Credit: geauxmovers.com

Buying a home in the midst of the holiday season might sound like a crazy idea, but the truth is this time of year can be a great time to buy!  Here are 5 good reasons to purchase a home during the holidays:

1. Less Real Estate Market Activity:  Because fewer people are looking for houses this time of year, there is less competition for buyers. And with less competition, buyers have more leverage when negotiating purchases. People selling homes during the holidays must often lower asking prices or make other concessions to sell. So, if you buy this time of year, you might get a bargain! Montgomery AL Real Estate Market
    
2. Highly Motivated Sellers:  If someone is selling their house at the end of the year, it’s because they need to. Usually sellers avoid the end of the year due to shorter days and cold weather, so if they are selling this time of year they are likely under pressure and motivated to make a deal.
    
3. Lower Interest Rates: Because of limited demand during the holiday season, there is greater competition among lenders so there is a general trend of lower rates. Current Mortgage Interest Rates
    
4. Tax Perks: Buy a house before the end of the year and you can deduct any points you paid upon closing.  You can also deduct property taxes and mortgage interest. Learn about the tax benefits of buying a home and find out if it is to your advantage to buy before year’s end. While your decision to buy a home shouldn’t be made solely for tax reasons, you certainly want to take advantage of the perks that exist!
    
5. Faster Closings: Everybody involved in the home buying/selling process has incentive to complete transactions before the end of the year.  Lenders want to close their books, Realtors want to receive their commissions before the new year and sellers are anxious to move on.  Since everyone is so motivated, and there is less real estate activity, closings should happen quickly and efficiently.

So, if you’ve been thinking about buying a home, but thought you should wait until the new year, think again! NOW just may be the right time for you to find a new home for the holidays!

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500!

Photo Credit: irishtimes.com

Buying a house is a HUGE decision, but once you have made it, it is easy to get caught up in the excitement of choosing your new home. Do not let that excitement overshadow common sense. Do your homework and be sure you know what you are doing so that you can avoid costly mistakes. Also, take advantage of the expertise of an experienced Realtor like Sandra Nickel and allow her to guide you through the process.  Here are some common home buying mistakes that you will want to avoid:

• Falling in love with a photo. Don’t do it. Pictures are worth a thousand words, but they do not tell you everything! Keep in mind that online real estate tools are great and keep improving. And home sellers work hard to show their home in the best possible way to impress potential buyers. So, if you see what you think is your dream house online, don’t get attached until you see it in person!
   
• Starting your home search before getting pre-approved for a mortgage loan. You will be so disappointed if you find the perfect home but lose out on it because another buyer with a pre-approval was more enticing to the seller. Sellers want a sure thing and know that someone who is pre-approved, and knows how much they can afford, will likely have no problems obtaining a mortgage loan. Five Things You Need to Be Pre-Approved for a Mortgage
   
• Neglecting to budget for home maintenance. If you are going to be a first-time homeowner, you might not realize how expensive a house can be. With furnishing, decorating, landscaping and maintenance you can spend a big chunk of change. That doesn’t even take into account repairs you may need to make. So, keep that in mind when creating a budget to determine how much house you can afford.
   
• Going over budget. Being house poor is no fun. You will feel trapped in your home if you have to use too much of your income to pay for it. Be sure to set a budget for yourself that will allow you to maintain an enjoyable lifestyle…then stick to it!
   
• Failing to negotiate. This is one area where having a Professional Realtor on your side will pay off. They are expert negotiators and understand the nuances of real estate transactions. 
   
• Assuming a listing agent is your agent too. A listing agent will certainly assist you in purchasing a home they have listed, but remember, they represent the seller’s interest, not yours. Listing Agents and Selling Agents - What's the Difference?
   
• Skipping the inspection. Big mistake! It is imperative that you hire an insured, professional inspector. They might discover a flaw in the home that could cost you a bundle down the road.
   
• Buying the “biggest and best” house in the neighborhood. If you fall in love with a neighborhood, consider purchasing a smaller or more modest home because it will be more challenging to sell and get a good return on investment on the biggest, fanciest home.

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500!

Photo Credit: nerdwallet.com

Negotiation is important in the world of real estate because the truth of the matter is, if you do not ask…you do not get. While sellers want the highest price and buyers want a bargain, they must meet somewhere in the middle for the deal to close. Negotiating is a vital part of selling or buying a home because it is the largest asset people own and there is a lot of money at stake. Here are some guidelines for what sellers and buyers might ask for in real estate negotiations:

• Price

Negotiating the best price means different things for sellers and buyers.  The seller wants the highest price and the buyer wants to pay as little as possible.  For a successful transaction, they must compromise and come up with a price that is acceptable to both.

• Closing Costs

Prepaid closing costs are paid by buyers for their mortgage. These are funds that the mortgage lender holds in escrow for expenses like taxes and insurance.  A buyer may ask a seller to cover some or all their closing costs either with a flat dollar amount or up to a percentage of what is an allowable contribution for a lender. If a buyer asks the seller to do this, they are likely going to pay a higher asking price. Escrow:  What is it and How Does it Work?

• Closing Date

Sometimes sellers want to get out of a home quickly because they need the capital from that house they are selling to put toward a new real estate purchase. The closing date will also affect the buyer’s monthly cash-flow because when a buyer closes on a house, they skip the next month’s mortgage payment. Therefore they may want to negotiate to close at the beginning of a month.

• Financing Contingencies

When there is a financing contingency in place for a real estate transaction, it can tie up a seller’s property for a required 30 to 60 days.  For this reason, many sellers prefer buyers coming to the table with cash offers. If you are competing with cash buyers, you may want to figure out if you can drop the financial contingency, which will shorten the closing time line. You can do this by getting pre-approved for a home loan prior to making an offer.  Mortgage preapproval shows that your finances are in order and you can afford the home. 5 Things You Need to be Pre-approved for a Mortgage

• Home Warranty

As a buyer, you can request a home warranty. As a seller, you can offer one. This home protection plan covers things like appliances and systems such as the hot water heater or air conditioning, in the event they need repair or replacement.

• Leaseback

The moving process is stressful and labor intensive.  Sometimes a seller will need extra time to get into their new home. When this happens, buyers can offer a zero-cost rent-back for 30 to 90 days to persuade the seller to accept their offer over others. 

• Home Repairs

With a home that needs a lot of updating there comes ample opportunity for negotiation. Buyers need to consider the cost of bringing the home up to current standards and use the estimate of that cost to request a lower asking price. The seller, on the other hand, can specify that the house is being sold “as is” and not offer any repairs.

• Appraisal Contingency

A seller can push for a buyer to waive the appraisal contingency,  however, if for some reason the appraisal falls short of the expected amount, they need to be prepared for the amount of cash they might have to pay should the bank only be willing to lend them money based on the appraised value. Understanding the Appraisal Contingency

• Furniture

Personal property such as patio furniture, window treatments and chandeliers is all up for grabs. The buyer can ask for these things to be included in the contract. Sellers need to determine what they are willing to leave behind. And any exclusions need to be specifically listed in the contract as well.

• Appliances

Depending on the market, sellers don’t always leave every appliance for the buyer.  They may include the dishwasher, stove and built in microwave in the contract but not the refrigerator, washer and dryer. Sometimes they don’t want to give everything away up front so that they can use these as items for negotiation.

• Condo/Co-op Assessments

These are fees that are used to maintain common areas in a community. If there is an open assessment, it can become a negotiation between the buyer and seller as to who will pay for it.

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: grenadabroadcast.com

When you make an offer on a home and it gets accepted, you have every reason to be excited. Becoming a homeowner is making an investment in your own future; likely the largest financial investment you will make. However, it is prudent to be aware that there are other costs involved in purchasing a home other than your down payment and monthly mortgage payments.

Closing costs are an expense you may not be aware of if you are a first-time homebuyer. These costs must be paid prior to closing on the home. They include property taxes, homeowner’s insurance, title search fees, and appraisal fees. In addition, the closing costs provide the funds that pay the people who have performed services throughout the loan process, like the appraiser and your real estate agent.

Your closing costs will be itemized for you and provided at your closing. But it is important that you look over them closely and take the time to ask any questions you may have before you sign any documents. If there is something you do not understand, your mortgage banker or Realtor can explain it to you.

The homebuyer can negotiate with the seller to determine who will cover the closing costs, but every loan has different guidelines about how much a seller can pay.  Your mortgage banker can provide you with your options. How to Negotiate Your Mortgage Closing Costs

Whether you end up paying for all or just some of your closing costs, it is crucial for you to include the amount you will have to pay into your budget. You can estimate the cost by calculating 2% to 6% of your purchase price. For example, if your loan is $200,000, your closing costs will range anywhere from $4,000 to $12,000. You will also receive a document from your mortgage banker after you apply for your loan that will list the anticipated closing costs. They may change a little during the process, but it will give you a good idea of what to expect.

So, while saving for a down payment is an obvious necessity, you may want to also set aside some cash each month to go toward other expenses associated with buying a new home. 5 Expenses That Shock First-Time Home Buyers

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: foxbusiness.com

So, you’ve decided to buy a house. Chances are you have a good idea of what you want, and an even better idea of what you don’t want.  With all these ideas in your mind, looking at houses can become overwhelming.  While there are a lot of things that can be deal breakers for buying a home, there are some things that are not as bad as they seem. If you have found a home that is otherwise right for you, here are some things to look past when making your decision to buy:

• FUNKY WALLPAPER AND UGLY PAINT - A house that is move-in ready is great, but sometimes the perfect house just needs a little TLC.  Wallpaper can be removed and a new coat of paint can do wonders to improve the look of a home that has good bones.  These small cosmetic changes do not have to break the bank. So, try to ignore the weird wallpaper and unfortunate paint jobs and keep in mind that this is a DIY project you can handle! How to Remove Wallpaper
   
• HOW A ROOM IS USED - The people currently living in the home might be using rooms in ways that you do not care for.  For example, maybe they have converted their formal dining room into a playroom for their children. Or perhaps they needed and office more than a guest bedroom.  Just because they have the home arranged that way, does not mean that you must keep it that way.  Try to overlook the way they have the rooms set up and picture the way you would use them.  It might be challenging for you to “see” it, but if this is your dream house, you don’t want to let something this minor stop you from buying it. 25 Smart, Inspiring Ways to Use a Spare Bedroom
   
• DIRTY CARPET -  Ugh…there is nothing worse than nasty, worn out carpeting in a house. But if you love everything else about a home, do not let dirty carpet be a deal breaker for you.  Like wallpaper and paint, it is easily replaced.  Often, you can even negotiate for new carpet (or the cost of it) in your offer.  If the owner is anxious to sell, they just might be willing to replace the carpet for you.
   
• THE OWNERS’ BELONGINGS - While many Realtors recommend that sellers remove as many personal items as possible before showing their home, not all sellers comply. A lot of “stuff” can be very distracting and make it difficult to really see the house as your own. But if the house is everything you are looking for - right location, right size, right style etc., do not let all that stuff ruin it for you. Look past all their clutter and try to picture the space with your furniture and belongings. 

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: thehouseshop.com