Buying a Waterfront Home Brings Rewards…and Risks

One of the true luxury items that you can purchase is a located near the water. Waterfront Homes command a premium price and are highly sought after. However, anybody who has ever owned waterfront property is well aware that they are both risks and benefits to owning it and making a decision to buy a home located near the water is something that requires serious consideration.

Risks of Buying a Home near the Water

When one thinks about the major risk associated with having a home near the water it can only be a flood. When you consider the impact that a flood can have you will understand the risk on your home. Homes located near the water are prone to flooding despite the preventative measures that are taken by homeowners sessions utilizing stilts and other modes of home protection.

Flooding can cause significant damage to your home leading to property damage, mold, electrical fires, and damage to the structural integrity of the home and potentially lower the homes value. Beyond that, the risk of flooding can also lead to higher insurance premiums and, in certain areas that are significantly susceptible to flooding, the inability to obtain flood insurance of any kind. This can make it impossible to get a home mortgage as most require insurance to protect their loan principal.

Benefits of Buying a Home Near the Water

If you are searching for a waterfront home for sale, you may be envisioning cabo real estate, or a lakeside cabin in Minnetonka, but you are likely looking for a beautiful view of the ocean or lake that you enjoy waking up to every morning. You can engage in various backyard activities that makes owning a waterfront property truly special. If you have a boat, and if you live on property next to the water you should, you can quickly experience the benefit of jumping onto your boat and exploring the ocean with little effort. Many homeowners can enjoy fishing from their backyard which is a fringe benefit That cannot be overstated. There is also a level of seclusion associated with living near the water and a higher status class associated with doing so as well.

Premium Pricing of Waterfront Homes

When you look up the price of homes in an area generally speaking most expensive homes are located right next to the water. You should be prepared to pay a premium price for a waterfront property due to the benefits noted above, but fortunately that premium has been shrinking steadily. However, keep in mind that there are many homebuyers who will specifically avoid buying a home that is located next to the water for the risks noted above. Having a solid real estate investment strategy can be advantageous.

The exact premium that you pay for the waterfront property will fluctuate wildly based upon the neighborhood and the size of the home. However, considering it to be likely that you will pay almost 1.5 times as much for waterfront property over a home that is not located nearby the water. In addition, you may want to avoid homes that are located near but not directly on the water as they have the risks of flooding without the significant benefits that waterfront property offers.

Many people with small kids are fearful of living near the water because of the risk of having your children fall into the water and beach around here or you can simply a fence on your property this is a step that may diminish the benefits of living on the water.

Protecting Your Home

Having a waterfront comes with some added maintenance and preventative costs. Have a disaster recovery plan in place and items at hand that can help you to protect your home, such as sandbags and a sump pump. Further, go for flood insurance to protect your assets and be sure to keep your precious goods elevated and away from rising water levels.

A waterfront property can be the best real estate out there. But it will require special care when you are going to buy a home or sell a home due to the added risks and home buying considerations needed.

Real Estate Investment Strategies

Not-So-Common Real Estate Investment Strategies

Real Estate Investment Strategies That Are Uncommon

Real estate investing has gained much-deserved popularity recently, largely contributed to the rising costs of the housing market in Calgary, Canada. In some areas of the country, housing costs rose over 10% on average in 2017. This statistic, combined with other favorable opportunities for investors, indicate imminent growth of this investing market in the impending years.

Although estate investing is generally comprised of uniform factors and logistics, many individuals often associate estate investing with the traditional approach of becoming a landlord. However, there are many other techniques for investing in real estate. Various investing methods actually don’t require an investor to physically own, touch or see any properties. Below we will analyze the top four best not-so-common ways to invest in this market.

Real Estate Notes

A note is simply an assurance of payment, much like a personal check. During the financing of a home mortgage, the homeowner signs a document known as a promissory note. This document states the term of the loan, loan amount, interest percentage, payment amount, frequency and due dates.

Since the note solely is not secured by collateral during the transaction, it is secured through a security instrument confining the note to the deed as a lien on the property as collateral, ultimately resulting in foreclosure.

When investors invest in estate notes, those individuals purchase the secured debt, ultimately becoming the new lender. This purchase amount is generally significantly less than the remaining principal balance, essentially borrowing smarter and making debt a companion.

Investing in Land

A less common, yet perhaps an extremely beneficial and powerful investing strategy does not necessitate the presence of any buildings or structures. Investing in land is very inexpensive from maintenance, utility charges, and mortgage payments standpoints.

The investor simply needs to know whether the land is suitable for building or not. Furthermore, there are no tenants, thorough inspections or mortgage payments. Experienced investors often don’t need to be present in order to buy a piece of land. With adequate research, the scarcity of available, vacant land makes investing in it a very popular estate investment strategy.

Investing Online

Another investment strategy unrelated to physical properties is online investing. Numerous online investment companies allow investors to subsidize into residential or commercial properties, ultimately receiving a generous cash flow allotment in return.

Customarily, an investor’s capital is grouped with other investors’ cash, which is then used to fund residential property, commercial property, apartment complexes and more. These clever investors can benefit from passive income in the form of dividends, distributions and long-term appreciation of the properties invested in.

Furthermore, this investment strategy is similar to investing in REITs and ETFs. REITs allow investors to invest in properties without actually owning physical property. They typically profit investors high dividends, which is a main contributor to the effectiveness of utilizing this investment strategy for retirement purposes.

Although REITs vary in complexity, many of them trade on an exchange similar to a stock, while others cannot be publicly traded. It is critical to know whether a REIT is publicly traded since non-traded ones typically encounter a tough evaluation period. However, those that are publicly traded can be easily purchased through an online broker.

Purchase Commercial, Non-Residential Property

This investment strategy is generally more rewarding than residential property investing. Commercial properties are office buildings, retail buildings, warehouses, industrial buildings, apartment buildings and more.

The greatest benefit of this investment strategy is the income potential. Varying by area, commercial properties typically contain an annual return on initial investment of 6% to 12%, opposed to the return of 1% to 4% associated with residential properties. Additionally, these property owners generally do not have to pay any expenses on the property.

All property expenses including estate taxes are handled by the lessee. The only expense when investing in commercial property, is the owner’s responsible for is the mortgage. Lastly, unlike a residential property, commercial property owners incur fewer consumer protection laws, such as limited security deposits and termination regulations, which control commercial leases.

Before any investment, investors should diligently perform extensive research, while gaining expert personal recommendations to make sound and beneficial investments. Whether an investor wants to buy a home, or sell a home, they must do so in an effective manner in order to benefit financially from each transaction.

For more information contact a trusted local Realtor to discuss real estate investment strategies near you.



E-RealEstate – Online Real Estate Industry


E-mail, E-Lancing, E-Recruiting, and now E-RealEstate. The internet has changed the way we conduct many everyday tasks and businesses, and Real Estate is no exception. Property business has become an industry that has spread vastly throughout the world wide web.

Many are reaping the benefits of the integration between real estate businesses and technology, namely the internet. Never before has it been as easy and convenient in the history of property transactions to purchase, sell, and transfer property.

A new era of Realty business has arisen, and anyone can take advantage of this new industry. E-RealEstate has become a trending way for many to provide supplemental income to their households for little to no effort. Many online platforms offer easy to use systems which provide home buyers and sellers a meeting point to find real estate and local real estate agents.


Imagine a world where you could be a landlord without all of the headaches of physically handling properties, inspections, and having to deal with tenants. Today’s world offers those opportunities with the internet.

Transactions can be made without face to face agreements, allowing for even international operations to be completed with ease. Internet transactions have revolutionized the industry of property, removing much of the risk and effort needed for traditional face to face arrangements and deals.

According to the statistics on, 90% of property transactions are conducted online during the process of individuals looking to buy a home or sell a home using online platforms. E-RealEstate has become the new norm for those seeking to buy or sell property; it can also be a lucrative opportunity for those who are looking to become investors.


One click opens the doors to millions of properties globally on the internet when using websites which offer listing services, communities and opportunities for novice investors to begin their portfolios.

There are even websites that provide investment pools, where individuals can assemble monies for shared ownership in rent and leasing projects, making it child’s play for even those who are concerned with the costs and risks of the once costly market. So, how does one become apart of this new and exciting community?


Step Into E-RealEstate


  1. Intention: Do you want to purchase a property, sell a property, or supply properties?

The internet provides opportunities for any role in property transactions. Realtors, home buyers, sellers, and investors all play a part in the E-RealEstate industry. Depending on your need for your exploration of the online business world, you can decide which platforms and websites will fit your requirements.


  1. Audience – Once you figure out why you have become interested in exploring the E-RealEstate world, you can then determine the audience you will be attempting to contact through the many communities that it has to offer. The E-RealEstate market has many branches and websites, to properly search for the online tools needed to accomplish your goals.


  1. Platform – When confident in your prior decisions you must then find a platform that fits your property business agenda. There are various platforms, applications, tools and websites to choose from; you should begin your search for the platforms that suit you by specifying the role you will be playing in the online property industry, and the audience you will be connecting to in it. These details will lead you to the website, tools, and platforms that will be of the best use for you to accomplish your objectives.


  1. Presence – Create a presence in the community to receive all of the benefits the industry has to offer. You can make your appearance by creating a profile, reaching out to others with similar goals, and involving yourself in projects.


After some effort anyone can benefit from the advantages of the internet gives to those participating in the E-RealEstate industry, over those who use traditional strategies. Immense information is at your fingertips of anyone who utilizes the internet in their property business, the convenience, and direct communication gives them an automatic upper hand in dealing with clients and team members.

The internet has changed many industries since it’s arrival in households around the world, and the real estate industry is no different. You too can take advantage of E-RealEstate and easily become apart of the industry that has been one of the significant factors of wealth building.

Day Trips From Savannah

Day Trips From Savannah

East Coast Day Trips: Savannah, GA

When buying a home in Savannah, talk to your local real estate agent about activity’s outside of the area. It is important to look at some of the non-real estate features in the area as well. After all, buying a luxury home is more than just living in an area, it is about being able to enjoy the area as well. While Savannah has much to offer right within its city limits, those considering moving here will be pleased to know that there are many adventures awaiting within a few hours of the city.


Day Trips From Savannah In Less Than Four Hours


When looking for a little adventure, there is much to be found within a short distance of Savannah. Depending on what you are searching for, you will find that just about any type of experience is within driving distance of the city.


  • Atlanta. Atlanta offers everything that one could hope for in a major city. A visit to the Coca Cola museum is fun,or walk next door to the Atlanta Aquarium to see the whale sharks and other magnificent marine life is exciting. Walk through the Olympic Park area or explore some of the most unique shops in the downtown area. You can find magnificent restaurants to try, indulge in a night out on the town with many different entertainment venues, or explore the Atlanta underground for those who are history buffs.


  • Hilton Head. Hilton Head is a beautiful beach town that can only be described as breathtaking. The city is calm and peaceful, yet there is so much there that can be enjoyed. Stake out a place on the beach for a fun day in the sun, then hop over to the downtown area for an evening of entertainment and nightlife. If you love to bring your dog to the beach, Hilton Head allows dogs anywhere on the beach from October until April.


  • Charleston. Charleston is a magical town filled with history and great food. Visit the fort where the “shot heard round the world” was fired and started the Civil War. Indulge in “Low Country” cooking and tour through some of the most beautiful Colonial and Civil War era homes in South Carolina. Visitors may also want to view the Charleston Aquarium to learn about marine life off of the South Carolina coast. The aquarium has an amazing “touch pond” that is fun for all ages.


  • Jacksonville. Just a short trip south on I-95 will bring you to Jacksonville. Jacksonville is the largest city in Florida by overall area, but is not so large that it is not charming. Enjoy Jacksonville Beach or visit the Navy Station for a tour. Jacksonville has a great nightlife scene and for sporting fans, you will love the variety of events that take place year round.


Of course, there are so many other places that can be visited that are even closer to Savannah. Tybee Island is minutes from the city and has one of the best beaches in the area, as well as delicious seafood. St. Mary, Georgia is a very small town on the southern border near Florida where you can visit and take a boat out on an island that still has wild horses.


With so much to do and see near Savannah, it is no wonder that everyone loves this historical town.

Considerations when Home Buying.

Considerations When Home Buying

What To Consider When Home Buying.

When it comes to when you want to buy a home there are several things to consider. If you are contemplating buying a home, you should know and review the advantages and disadvantages of this big step you are about to embark on. As a long term investment, it’s great to buy a home. It’s a great financial decision.

On an average, homeowners see roughly a 7% growth annually. In my opinion, buying a home is not a very good short-term investment because you’re going to pay anywhere from 2% to 5% of the purchase price, be sure to understand your closing costs.  Consider a home investment as a long term asset that gains equity over a period of time.

The main reason why I believe home ownership is a good long term investment is that the longer you keep the asset (house) in good standing, you’re building equity. As you also pay off the mortgage on the property, your building equity as well. With less of your payment going solely on the interest of the loan but toward the actual price of the loan.

Some experts suggest habituating the home for at least 5 years to see an ROI. But if you’re going into real estate ownership to build wealth using this formula, there are a few things to consider while making this decision.

  • Your Home is not an Asset

Assets are things which generate cash flow for you, while liabilities generate expenses, or negative cash flow. I’m sure you’ve heard that houses are assets because property values gradually appreciate over a period of time. In reality though, the only time your home will become an asset is when you decide to put the property up for sale.

Yes, you’re building equity by living in the home and paying the mortgage on the property. But, every month it’s something that takes money from you, not put money in it. Only when you can sell the property does it become an asset.

While owning the house, you have to pay for all the repairs needed to keep the home in good standing. So naturally, the longer you own the property, the more you’re going to spend on it for repairs. Not to mention the mortgage, HOA fees, renovations, general lawn care, utilities, home owner’s insurance and of course taxes. These are just some of the responsibilities associated with home ownership.

Here’s an interesting, realistic ideal situation regarding home ownership. Say you purchased a house 15 years ago for $200,000. You may be able to sell it today for $400,000. You’ve financed the whole amount with a 6% APR loan for 30 years. You will have spent $157,936 on interest and $57,902 on the principal of your loan for a total of $215,838. Plus, you still owe $142,098 to pay off the bank. Now look at the total when you add all of your other monthly expenses into the equation.

Even if you were able to sell the property for the purchase price. You would still be in the hole considering inflation and time value of your investment. The money you invested then doesn’t have the same purchasing power as it does fifteen years later. Your home is an asset, but your mortgage is the liability. Because a mortgage is debt, you’ll need to pay it off before your home is really considered an asset. Because you’re not paying for it monthly. The only expenses are the costs of operating the home and taxes.

Selling your home has advantages as well. Once being, a profit from your investment. Unfortunately, there’s a tax involved with selling you home. It’s called capital gains tax. Capital gains tax is a fee that you pay to the government when you are selling your home, or anything else of value, for more than you invested in it.

There are two types of capital gains tax associated with real estate; they’re called “Short-term gain and Long-term gains”. Short term gains are when you pay taxes on property owned for less than a year. These are generally higher because they are taxed at the same rate as ordinary income. Long term gains are when you hold the property longer than a year before deciding to sell a home. You’ll get a benefit of a reduced tax rate that usually doesn’t exceed 20%.


Buying a home is a great decision if you’re thinking long term. The longer you live in it, the more benefits you’ll be rewarded. For one, every time you pay your mortgage note, you’re building equity, which creates a higher value. Two, you’ll experience better tax benefits in the longer term whenever you decide to sell a home. In conclusion, think long term buying a home.

best real estate blogs

Some of the Best Real Estate Articles for 2018

The Most Informative Real Estate Articles

Buying a home, whether for rent, flip or to live in is one of the most significant investments you will ever make, and you need to be armed with the right information. Looking around you will find all sorts of websites and blog posts that tell you lots about real estate. The problem, however, is finding quality real estate articles – while there may be lots of information out there, most of it doesn’t help you very much when it comes time to buy or sell a property.

We want to make a difference; on this site you will find real estate articles that help you make the right decisions. We will cover real estate issues that are not handled by many other sites, and we will cover them in-depth so that you can have the information that you need to help you make the right decisions when it comes to buying and selling property. Here are some of the topics that you can expect to see in the coming months:

Home Staging and Professional Photographs

Staging your home properly when the time comes to sell is one of the most important things that you can do – when prospective buyers come through the door what they see will help them decide whether they want to buy your home or not. While there are many websites that gives you tips on how to stage your home there aren’t many that are practical.

There are many, for example, that recommend that you can do it yourself with just a small budget. What they do not realize is that after living in a home for years it can be very difficult to get rid of clutter and stage it with an objective eye. We will bring you detailed articles that teach you how to stage your home with the help of a professional even if you have a small budget.

You can also read about the value of getting professional photographs for your listing – you want to be able to impress prospective buyers wherever they are and you can only do that if you take the best photographs.

Understanding Condo Documentation

Buying a condo is not like buying any other property – the documentation is a lot more detailed. Many people do not realize this and realize only later that they have made mistakes. If you look online for information you will find some sites, but their language tends to be more than the layman is willing to digest. Here, we will teach you how to go through condo documentation in language that you can understand.

Knowing When to Buy or Sell

In the pat people relied on trends to buy or sell property, but 2017 showed us that they are hardly enough – everything that was predicted didn’t happen – in fact, trends went the opposite way.

We will bring you articles that take an in-depth look at the real estate market – not just how it is affected by political events and the economy, but how everyday people react to what is going on around them, important factors to consider and how it affects the way they buy and sell property.

meeting your realtor

Selling Your First Home? What You Need To Do Before Meeting With An Agent

Preparing For Your First Visit With Your Listing Agent


If this is the first time you are selling a home you may have a few questions about what to do before your first meeting with an agent. Knowing what to bring with you to that first appointment and what to expect can save you time upfront and get the process going much faster.


Your To-Do List


Do You Have a Clear Title?


Your listing consultation will include questions about the status of your property. Your agent will need to know if there are any liens or loans out against the home outside of your mortgage. You may think you know the answers, however, unless you bought the home brand new there could be something hidden that you are unaware of which could affect the outcome of the sale. You can check with the Clerk of Court to get information about any claims from previous contractors or creditors. Downloading needed documents is easy with a fee of one dollar per page.


Understanding your mortgage and credit numbers


Finding out your credit score, how much you owe on your mortgage, and your interest rate before you meet with your agent will get things moving quickly. Once your agent knows what you have left to pay, your interest vs. principal amount, and if you are current on your payment, they can then help you determine what you can expect from your property sale. The more information you can provide, the better.


Get an inspection


Realty Times tells sellers to have a home appraiser do the check before you meet with your selling agent. If you find that there are repairs needed and know the repair costs this will allow you and your agent to decide who should cover the fixes and how to set the price accordingly.

prepping your home fo sale

To get top dollar for your home, it should be in tip top shape


Get Your House Ready For Sale


Your listing may go quicker when you have all the information you need up-front. To stay ahead of the game, make sure your home is spotless from top to bottom. Removing accessories that are bold or custom will be a huge factor when you have an open house.

Buyers want to envision their family in this space, not yours. Colors make a huge impact and using neutral tones is a good idea and take out pet and children’s items to appeal to a larger group. Doing this before you meet with your agent will speed up the process.


  • -Paperwork To Take To Your First Appointment
  • -Contingency reports concerning removals
  • -Inspection report
  • -Comparisons you found
  • -Mortgage paperwork
  • -Loan information
  • -Bank statements for at least three months
  • -Credit report
  • -Photos of the property, before and after repairs or upgrades
  • -Mandatory disclosure statements
  • -Title report
  • -Ideas for marketing the home


Meeting With Your Agent and Questions You Should Ask


How Much Is It Worth?


Knowing what other homes in your community sell for is an excellent way to help you decide what price you should set on your property. Your Agent will find other homes with similar floor plans, the same square footage, and in the general area to help figure out approximately what your home will be worth when you place it up for sale. It is commonplace that your agent should talk about a comparative market analysis during your first appointment.


Best time to list my home?


CNBC says that March and April are the best times to sell a home. Buyers are not waiting for kids to get out of school to shop for a home. Many individuals are wary of missing out on the perfect home since inventories are low in several markets.


Do I have to hire a staging expert?


At least thinking about hiring someone to stage your home is a good idea says experts at People who have homes with modern furnishings and a consistent design sell properties faster. While you do not have to hire the design expert, you can use the consultation to get ideas about how to make your home more appealing to buyers.


Should I worry about curb appeal?


Improving the way your entrance looks is one of the best ways to invite people into your home when you are selling it. Consider planting fresh flower beds, replacing mulch, fixing cracks in the sidewalk, painting the front door, making symmetrical additions, adding new couch pillows, replacing door hardware, painting your mailbox, and adding large house numbers to the home. A pergola or arbor provides a shady area to relax. Bright, green lawns always entice open house guests to spend time touring your home.


Being prepared for your listing appointment can help you speed up the process of getting your home on the market. Selling something you have an emotional attachment to is hard enough without delaying the transaction.  

Although there is generally not too many closing costs for the seller — be sure to get an estimate.  In addition, you will want to ask your agent about any additional costs that you may not be aware of. Once you get through the first appointment, your real estate agent will guide you through the rest of the home sale. Making a list of any additional questions and concerns you may have to get answers during your initial visit will keep you and your agent from playing phone tag later.


Has Zillow Crossed The Line?

Taken From DEAN Knows

Zillow is buying and selling homes

Zillow is now buying and selling homes themselves

Zillow Announces They Are Buying Homes

Yes, you heard that right…Zillow will now be buying and selling homes.  Similar to the process currently in place with online home purchasing sites like Offerpad, Zillow will no longer be only selling advertisements on real estate listings…THEY WILL BE THE BUYER AND SELLER OF HOMES.

Zillow will roll out the process of buying and selling houses through an expansion of their Instant Offers in Las Vegas and in Phoenix AZ.  Zillow rustled some feathers sometime back with their Instant Offers product which let buyers directly make online offers on homes listed on their real estate platform.  Now, they themselves – Zillow Group, Inc. (NASDAQ:Z) (NASDAQ:ZG) will be purchasing those homes.

Zillow Promises (with their fingers behind their back) To Keep The Agent Part of the Real Estate Transaction

Zillow claims that the new version of Instant Offers keeps real estate agents in the loop.  The trustworthy company claims that program gives real estate agents the “opportunity” for listings by being the conduit from the agent to the seller, whom has listed their property on Instant Offers.

Zillow’s Chief Marketing Officer Jeremy Wacksman said:

“Even in today’s hot market, many sellers are stressed and searching for a more seamless way to sell their homes. They want help, and while most prefer to sell their home on the open market with an agent, some value convenience and time over price. This expansion of Instant Offers, and Zillow’s entrance into the marketplace, will help us better serve both types of consumers as well as provide an opportunity for Premier Agents to connect with sellers. This is expected to be a vibrant line of business for us and for our partners in the real estate industry, while providing homeowners with more choices and information.”

Their press release said:


“When Zillow buys a home, it will make necessary repairs and updates and list the home as quickly as possible. A local agent will represent Zillow in the purchase and sale of each home, enabling agents to earn commissions”

Well.  I guess we will wait and see what Mr. Rascoff says next year about that.


Zillow Taking Over Real Estate

Zillow has been (not so quietly) buying up everyone who is everyone in the real estate industry.  They bought Trulia.  You may remember when they also bought Dot Loop. If you have been around for awhile you may remember a company called ListHub.  They were the dominate force in listing syndication before Zillow took over everything. ListHub and Zillow broke up some time back – which crushed ListHub so listing syndication was not easy any longer. Now Zillow has even forced their hand at local MLSs by not allowing individual listing uploads by agents and franchises, only a direct feed.   Many real estate agents and brokers are tired of spending money with Zillow and are looking for other options.  With Zillow dominating the real estate SEO – its hard for agents and brokers to not have some representation on the behemoth.

condo vs single family home

Should You Buy a Condo or Single Family Home?

People have hundreds of choices to make once they have decided to buy their first home.  Many people have a hard time deciding on which real estate they should buy. Condominiums obviously have a lot of advantages and there are specific things you should know before purchasing a condo vs a single family property. However, many people are still interested in single family homes. Home buying is difficult at the best of times. The global real estate market has never truly recovered, and home buying will continue to be difficult for most people.

The Bigger Picture of Home Buying

However, people who are considering the benefits associated with a condo should trust their first instinct in many cases. Purchasing a condominium will make sense for a lot of people. Then again, there are clear sacrifices associated with choosing a condominium over a single family home, and this is something that people should also note in advance.

Pros and Cons

For one thing, many people like the opportunities associated with redecorating and remodeling their own homes. While it is possible to redecorate a condo to a certain extent, the condo association is often going to strictly limit people when it comes to what they can and cannot do with their own homes.

Some people enjoy working in their yards, and this is something that is really only possible for the people who are living in single family homes. Condos can have pleasant surrounding grounds, and the condo association will hire people who will keep those grounds in good shape. For some people, this is a good thing. Other people might enjoy designing their own exterior landscapes, and that can be a problem with condo living.

For many people, it’s still all going to come down to costs. People will usually spend more on a single family home than they will ever spend on a condominium,and it’s hard to get around that. It is true that a single family home is an investment, but that is also the case for a condo.

People might end up making fewer sacrifices financially when they purchase a condominium, and that can make a huge difference for everyone involved. Insurance is also an issue, and the condo association will usually take care of the insurance connected to the condo’s exterior.  Make sure to read through the condo documents to understand exactly what is and what is not covered by your condominiums insurance policy.

It should be noted that there are advantages associated with both types of property. After all, both of these properties are important investments that people will be able to enjoy for a long time. A condo will always be worth something, and so will a single family home.

Some people are just not going to need the space associated with a single family home anyway, and they won’t miss it when they decide to move into a condo. The low-maintenance nature of a condo will really make it perfect for everyone involved, especially for the people who are nervous about home buying in the first place.

Raising a family in a condo is often more difficult, especially because the people who live in condos have a tendency to make more complaints about noise. People will often have more privacy in larger single family homes, and that can make all the difference in the world for the people who are trying to live peacefully with their families. However, this just might not make much of a difference for other people. There are fewer burdens associated with owning and living in a condo, and that can be enough for many of the people involved.

understanding closing costs

Understanding Closing Costs


Closing costs are part of any home buying experience.  Although closing costs exist on every real estate transaction, underestimating the amount of closing costs is a common mistake for first time home buyers .

Understanding Closing Costs When Buying your New Home

Closing costs are essentially out of pocket charges that are incurred at the time of closing. These assessed fees are the last step in securing timely home ownership across the board. Usually, closing costs include pre-paid homeowners insurance and appraisal costs.

However, they can also include charges by the mortgage company for implementing the mortgage itself. Similarly, pre-paid interest – known as “points” – may also be assessed during closing time. Other fees may include title insurance, along with filing fees, attorney fees, recording fees and miscellaneous expenses.


Avoid Issues with Closing Costs

One of the best ways to avoid closing cost issues is by paying close attention to every detail. You simply cannot afford to get caught off guard at closing. This can result in costly delays, and possibly even turn you away from the deal altogether. With this in mind, is it vital to request an advanced copy of the HUD 1 settlement. This should be done at least three days prior to closing on your new homes. The HUD is designed to protect you during the closing process, and not worry about surprise fees on closing day. Here are some essentials you should keep in mind:

•    Review the entire closing agreement – or let your attorney review it in close detail.
•    Check all the closing costs and figures to make sure they are 100% correct.  Point out any discrepancies or issues with credit or closing costs – and handle them ASAP.
•    Stay on top of all buyer-seller- agent communications across the board. Make sure to include your lender and attorney in the loop as well.
•    Make sure to keep hard copies of the HUD agreement on hand before, during and even after closing.
•    Make sure everyone in the loop is on the same page -and correct any errors or issues that can potentially cause delays.


Schedule a Final Walk Through


final walk throughAnother way to avoid problems with closing costs is scheduling an final walk-through. This, of course, has to be done before closing day so you can check the home thoroughly. If you find any issues – you must notify the seller, agent or attorney at once. Remember, closing costs are governed by enforceable contracts – but all parties must be in agreement across the board.

This contract also includes any legal or governing bodies – especially HUD-related rules and regulations. If you do not want to delay your closing day, all closing costs must be taken care of beforehand as well. Again, make sure every penny is accounted for on the contract – and always take photos of your bills and receipts.

You also need a detailed checklist of what was supposed to remain the property – and what was to be taken. For example: if the fixtures were supposed to remain but a few are missing, early inspections can rectify the situations before they escalate and lead you to walk out on the deal.