Archives for the month of: July2013
How to Determine the Best Areas to Live
Posted by New Home Resource on July 31, 2013 in
Searching for the perfect home is hard. You have a certain idea of what you want in mind, which may or may not be realistic according to your budget. What happens if your budget does not permit you to find the home you want, in the area you want? Do you compromise on the home or on the location? Every person is different when it comes to this decision. However, what many people don’t realize is that every neighborhood is consistently changing and what you may have thought about a specific neighborhood 5 years ago, has likely changed today. With that in mind, us girls at New Home Resource decided to help by listing a few things to consider when choosing an area best suited for your needs.
Unfortunately, crime is everywhere. It goes without saying that the level of crime in a neighborhood is a serious consideration when determining where you want to live. No one wants to live in an area with high home robbery rates and violent street crimes. Do your research on local crime rates through sites such as Trulia’s Crime Map or by contacting the local law enforcement office.
The importance of school districts is a factor that many people fail to consider. If you have, or plan on having children, making sure that your home falls within the district of a respected school is important. In fact, even if children are not in your future, it’s still a factor to consider if you plan on leasing-out or selling your home later on. Using a website such as Great Schools will help you determine the rating of schools in the neighborhoods in which you are considering. Go one step further by attending a PTA meeting and talk to other parents about the school’s curriculum and budgets.
Take a look at the neighborhood. Is it one that has been kept in good condition? Have the streets been cleaned and the trash collected? Find out by taking a drive through the area looking for signs of financial trouble. Understandably, some of the best deals in town are homes that are either short sales or foreclosures, and some areas have been hit harder by the recession. With the way the economy is improving, it’s a great sign that these areas are on the way up too.
Before buying a home, make sure it’s in a community in which you’d be happy to live. How can you do this? By talking to the neighbors, visiting at different times of the day and night, and researching the local amenities. Drive around and look at parks, playgrounds, retail areas, etc. By visiting at different times of the day and night you can really make sure that this will be a home that you’ll be happy to live in. Every time of day sees a different atmosphere. If you work from home, will you be able to concentrate with the noise levels?
Buying a home isn’t just about the house, it’s about your whole lifestyle. Does this home fit your lifestyle? If you’re a big foodie, visit the local food joints. Can you see yourself being satisfied by what’s offered? If you like to going to bars, make sure the local ones fit your scene. If you love to get outdoors and be active, check out local parks, hiking trials and gym amenities. Be realistic and prioritize factors based on how much you actually engage in those activities. There’s no point moving to the outskirts of a town for hiking trails if you realistically only use them once a month.
More often than not, the areas in which we work are not the areas in which we want to live, however commuting time can make or break your decision to buy a home. Try driving different routes from the house to your workplace during what would be your commuting time. Is the commute time realistic between dropping off the kids at school and rush hour traffic? Does the cost of gas or public transport to get to work exceed your budget? Check out local government websites, are there going to be any major road repairs that will affect your commute to work?
When we take into consideration all of these factors, we are often left with one or two areas that fit our needs and desires. Now it’s time to follow your gut and go with your heart! Let the gals at New Home Resource help.
If you are looking for a new home, please contact Joanna Piette, Denise Moreno Thrasher, Heather Brockhurst, or Evelyn Beng Kern at New Home Resource today. (702) 365-1000.
How Much Space Does Your New Home Need?
Posted by New Home Resource on July 18, 2013 in
When searching for a new home we tend to go in with unrealistic expectations and demands. Don’t worry, it’s natural. However, it is often hard to determine exactly how much space you need in your new home. With hobbies, family members and general acquisition of furniture and various other objects, it’s important to make sure you have enough space to accommodate your life.
It’s not just what you currently need or want that you need to think about, but also what your goals and plans are for the home. Are you thinking about having children, if so, is this the home you plan to raise them in? Is there an option to extend?
Consider how you live in your current home, does this layout work for you? Do you prefer open-plan living space for entertaining? Do you need a formal living room for the adults and a separate den for the kids? Do you work from home? Do your hobbies require additional space?
Taking all these factors into consideration enables you to realistically start the thought process to determine how much space your home needs.
Things to consider about opting for a larger home:
- With a larger home comes larger utilities bills. The cost of running the house will be more due to the additional space requiring energy.
- Expect higher taxes and insurance on the property.
- Maintenance will require more time and money.
- That extra space means a higher mortgage payment.
- Extra funds will be needed to furnish the additional space.
Things to consider about opting for a smaller home:
- A smaller home means less space to grow as a family.
- Entertaining space may be limited.
- There may be a lack of sufficient storage.
- Not enough space to do hobbies or work from home.
- Lack of personal space from other family members.
How to calculate and compare your current home to what you are looking for:
- Measure all the rooms in your home and compare to the space in possible contenders for your new home.
- Take note of how you use each room and whether it fulfills its primary purpose.
- Note how each room feels in terms of space.
- Add up how much space you’d like and need in each room.
If you are looking for a new home, please contact New Home Resource at (702) 365-1000.
5 Things to do When Buying a House and Applying for a Mortgage
Posted by New Home Resource on July 11, 2013 in
Buying a house is a big deal and, furthermore, so is applying for a mortgage. When you’re ready to purchase a house you need to get your finances in order to work out just how much you can afford to spend.
1: Be Realistic
Many people over-estimate how much they can afford on a monthly basis. If you earn $3,000 a month then it’s likely that you cannot afford $2,000 in monthly mortgage payments when you factor in the cost of living. Sit down and look at your monthly expenditure. Do you have hobbies that you can’t live without? Do you like to take vacations and weekend breaks away? Do you plan on making a big purchase within the next year? If so factor in the cost of these into your monthly expenditure before deciding on your monthly mortgage payments.
2: Do Your Research
Research different areas and communities, take into consideration the school districts, proximity to work, leisure centers and amenities. Does the area you are looking at have all the amenities you need? If it doesn’t what are you willing to sacrifice? House size or proximity to work? Does the cost of commuting outweigh the lifestyle and vice versa.
3: Shop Around
Finding the right mortgage company is crucial. Don’t just go with the first company you visit, shop around and find out about all the different loans that are applicable to you at each company. Be sure to take note of interest rates and compare them to the current market. Remember you will have a long-term relationship with that company, so make sure you feel completely comfortable and confident that they have your best interests at heart.
4: Consult An Outsider
If you’re ever in doubt talk to someone who is not emotionally involved in buying the house to get an unbiased view. Before setting out to buy a house, it’s a good idea to sit down and write up a list of all the must-haves, bonus features and factors that you’d like in a home. Does the home you’re considering buying meet all of the must-have features? Does the extra bedroom really justify the additional cost? Having the outsider sit down and rationalize with you about the property can help you to see if you’re being rash or rational about the purchase.
5: Sign The Dotted Line
When you’ve finally made the decision to buy a home, have your lawyer or real estate agent go over all the paperwork. This will ensure that all the paperwork is in order, up to date and legal. Once both parties have agreed with the purchase price and the contract, it’s time to sign that dotted line.
If you are looking to purchase a home please contact New Home Resource at 702-365-1000 for a real estate agent to help you find your dream home. Joanna Piette was voted Best Real Estate Agent at the 2013 Best of Silver State Awards.