Karen Lawley's Blog
There is something enticing about building the home that you want rather than purchasing a property that only has some features you desire. When you invest in new residential construction, you can create the living space that you have always dreamed of having.
Step 1: Choose a Builder
The first step in the home building process is likely the most important. You will want to partner with a reputable and experienced builder who will focus on helping you accomplish your goals throughout the construction process. It is important to hire a builder who has worked in your local area and who has formed an extensive professional network that includes highly-regarded contractors.
Step 2: Secure Financing
After you have chosen your builder, you will need to secure financing for your new home. In all likelihood, you will need to start the payment process by applying for a construction loan. Construction loans have different requirements than traditional mortgage loans, so you will want to work with your lender to figure out the best option for your personal circumstances.
Step 3: Select Your Lot
Once you have been approved for a loan, and you have a payment plan in place, the process of building your new house can begin. The first thing you will need to do is select your lot. There are a lot of considerations to make when selecting your lot, so be sure to take your time and find the plot of land that will be best for your home.
Step 4: Design Your Home
Now that you have decided on which lot is best, you can start working with your builder in order to plan and design your home. During this stage, you will talk about everything from the floor plan and the facade to the interior design details and landscaping. There will be a lot of decisions to make, but this can be the most fun part of the process for new construction homebuyers.
Step 5: Watch the Construction Process Unfold
As the design decisions are finalized, your builder will begin to construct your new home. Along the way, you may have opportunities to stop by and see the progress. It's always a good idea to snap a photo or two, so that you have memories of this special time in your life.
Step 6: Schedule Your Final Walk-Through
When your home is completely built with every detail in place, you will be able to go on a final walk-through with the builder. This is the time when you can point out any changes or adjustments that need to be made before you move into the home.
Whether you are finally having a custom-built home designed to meet your exact needs or you are deciding between different models available from a reputable builder, you are likely to enjoy this milestone moment in your life.
If you’re searching for a home and are looking for a deal, you may turn to homes that are listed as “For Sale By Owner.” These homes tend to be a great deal for the sellers, but not necessarily the buyer. This makes it all the more important that you hire a buyer’s agent for yourself. Your agent can check a bit of the work that the owner is doing without hiring a real estate agent for himself. When buying a for sale by owner property you’ll want to do all of the same things that you would do if you were buying a property that was for sale through a realtor including:
- Check the asking price through comps
- Get a property inspection
- Make an offer and complete contract negotiations
- Check how long the home has been on the market
Just because a home is for sale by an owner, there’s no need to give up on the normal procedures that one goes through in buying a home. You have the right to have a buyer’s agent represent you in the transaction. Beware though as some for sale by owners are not willing to pay commission to any agents including buyers‘ agents. Be sure that the contracts are clear in this area so that you don’t fall in love with a home only to find out that you can’t use your agent in the transaction.
Other Points To Consider In A For Sale By Owner Transaction
You may need to hire an attorney, especially for an estate sale or short sale.
You still need a home inspection and have the right to back out of the sale if something isn’t satisfactory about the home. The home inspection is important because it can reveal serious problems with a home such as high levels of radon, issues with the furnace, or a possible plumbing disaster waiting to happen.
You may want a C.L.U.E. Report
This type of report tells you what kind, if any, insurance claims have been made on the property in the past 5 years. The report will detail the date of the claim, the cause (if a natural disaster) and the amount that was paid to fix the damage.
You should still get pre-approved
Getting pre-approved before buying a home is just something that should be automatic for buyers. It really lets the seller know that you’re serious about purchasing a property.
Buying a for sale by owner home is the same as purchasing any other property. You’ll just need to be an informed buyer through the process in order to make sure you’re doing what’s right for you.
Ready to acquire your dream home? Although you might have already located your ideal residence, you may need to negotiate with a home seller. By doing so, both you and a home seller will be satisfied with the final results of a property transaction.
However, a homebuying negotiation sometimes can be tricky. And if you fail to keep your cool throughout a negotiation, you may miss out on the opportunity to purchase your dream residence.
What does it take to remain calm during a homebuying negotiation? Here are three tips to help you do just that.
1. Take Your Emotions Out of the Equation
Don't take it personally if a home seller wants to negotiate. Instead, view it as an opportunity to ensure all parties involved in a home sale get the best results possible.
In many instances, it's easy for homebuyers to let their emotions get the best of them. But if you feel overwhelmed by stress and frustration, it is essential to take a step back and assess the situation. That way, you can avoid making any rash decisions that could put your chance to purchase a top-notch house in danger.
Try to maintain a positive outlook throughout a homebuying negotiation. Also, don't hesitate to reach out to family members and friends for support, as these loved ones likely can help you analyze any homebuying hurdles and find ways to overcome them.
2. Know Your Options
You may invest many hours in a homebuying negotiation, and you might even make various concessions along the way. But despite your best efforts, there are no guarantees that your homebuying negotiation will be successful.
For homebuyers, it is important to remember that there are plenty of houses available in cities and towns nationwide. Therefore, if a homebuying negotiation goes sour, you can walk away and start a new search for a terrific home.
3. Consult with Your Real Estate Agent
When it comes to negotiating a home purchase, a real estate agent can make it easy to streamline the process of acquiring your dream residence. This housing market professional can serve as a liaison between you and a home seller. As such, he or she will do everything possible to deliver exceptional results for all parties involved in a homebuying negotiation.
Your real estate agent can take the guesswork out of a homebuying negotiation. This real estate expert can respond to any concerns or questions you may have throughout a negotiation. In addition, he or she will provide honest, unbiased recommendations to help you make informed homebuying decisions.
Perhaps best of all, your real estate agent can help you alleviate stress during a homebuying negotiation. He or she will provide you with world-class guidance, enabling you to stay calm, cool and collected as you search for your ideal residence.
Don't let your emotions overwhelm you during a homebuying negotiation. Conversely, use the aforementioned tips, and you can maintain your composure throughout a homebuying negotiation and boost your chances to acquire a first-rate house.
Selling a home may seem exceedingly difficult, particularly for a first-time property seller. However, if you receive an offer on your residence that falls just short of your initial expectations, you may be able to negotiate with a homebuyer.
How you handle a negotiation with a homebuyer may dictate how quickly you sell your residence.
If you're unwilling to understand a homebuyer's point of view, you risk missing out on an opportunity to get the best results from your home sale.
On the other hand, if you stay calm throughout a home selling negotiation, you may be better equipped to understand a homebuyer's perspective. This may help you find common ground with a homebuyer and ensure you can speed up the home selling cycle.
What does it take to remain calm during a home selling negotiation? Here are three tips to help home sellers maintain their composure throughout a negotiation.
1. Keep Your Emotions in Check
A home selling negotiation can be stressful. But home sellers who manage to keep their emotions in check can boost their chances of a quick home sale.
If you feel stressed during a home selling negotiation, don't hesitate to take a step back and look at the big picture.
Remember, your ultimate goal is to sell your residence. With the lines of communication open, you and a homebuyer can work together to ensure all parties involved in a negotiation are satisfied with the end results.
2. Look at All of the Options at Your Disposal
If a home selling negotiation goes south, there is no need to panic. Instead, consider all of the options at your disposal, and you'll be able to determine how to proceed from here.
For home sellers, it is essential to note that many homebuyers are on the lookout for high-quality residences in cities and towns around the country. Thus, if a negotiation with a homebuyer fails to work out, you can continue to promote your house on the real estate market.
3. Work with a Real Estate Agent
A real estate agent is a must-have for many home sellers, and for good reason. This housing market professional will handle a home selling negotiation and ensure you can seamlessly navigate the entire home selling journey.
Typically, a real estate agent can negotiate with a homebuyer on your behalf. He or she will keep you up to date about any homebuyer requests and offer honest, unbiased home selling suggestions. As a result, you can receive expert home selling guidance and make informed decisions at each stage of a home selling negotiation.
A real estate agent also will respond to your home selling concerns and questions at any time. That way, this housing market professional will make it simple for you to alleviate stress in a high-pressure home selling negotiation.
When it comes to handling a home selling negotiation, there is no need to worry. Take advantage of the aforementioned tips, and you should have no trouble remaining calm, cool and collected during a negotiation with a homebuyer.
Building a custom new home allows you to create a home that’s well-suited to your needs and lifestyle. Floor plans, color choices and fixture options are just some of the ways that you can adjust a home to your liking. Here are five other major ways to make a custom home truly yours.
Make the Basement Bigger With a Deep-Pour Basement
A deep-pour basement increases your basement’s height by digging the foundation down deeper. Depending on how deep you want it, the increase in depth may just be 1 foot or it might be several feet.The purpose of a deep-pour basement isn’t so much to increase storage space beneath your home, but rather to make your basement more comfortable to use. The increased height can be helpful if you eventually want a finished basement with overhead lighting fixtures.
Add Space to Rooms With Elevated Ceilings
Elevated ceilings increase the height of first- or second-floor rooms, usually for an aesthetic effect. Higher ceilings can make rooms look larger without increasing square footage, and higher ceilings can let in more natural light if oversized or additional windows are installed.
Depending on a home’s design, slightly elevated ceilings might be used throughout an entire floor. Alternatively, a single room might have an elevated ceiling that looks up to the second floor.
Create Storage With Built-In Bookshelves
A home can never have enough storage, and you can increase your new home’s storage by adding built-in bookshelves. While you always have the option to buy standard bookshelves from a furniture store, they won’t be quite as nice as custom ones that are installed when the home is built. You can design every aspect of the shelves both so they look the way you want and accommodate your oversized books or personal touches.
Upgrade to an Expanded Garage
Upgrade your garage from a standard one- or two-car garage so that it’ll better accommodate your future (or present) storage and vehicle needs. Even if you don’t expect to need another parking space, you might still extend the length of your garage so that it can provide more room for large tools and gear.
Go for a Jacuzzi
A jacuzzi tub is a pleasant luxury anytime you feel sore, are cold or just want to relax. It’s also a fairly easy upgrade to put in when building out a master bathroom. Go for a jacuzzi in your master bath, and you’ll reap the rewards every time you relax in the tub. You might also get a better selling price when you eventually move out, as master bath upgrades have some of the highest returns on home sale prices.
Make Your New Home Truly Yours
If any of these upgrades or customizations sound like something you’d appreciate, talk with your home builder about putting them in. A few customizations like these can make a big difference in how much you enjoy your new house.