Five Topics to Discuss With Your Real Estate Agent When Buying a Home

Five Topics to Discuss With Your Real Estate Agent When Buying a Home

Whether you’re ready to settle into your first home or looking to buy your fifth; are moving cross-country or cross-town, it’s smart to identify which attributes of a new home are most important to you. Be sure to sit down with your real estate agent and discuss your needs and wants for your new house. Here are five topics to think about when buying a home:

1) What You Can’t Live Without Our lifestyle choices are often reflected in the homes we buy. Are you a motorcycle fanatic? If so, a roomy garage would be important to you. Have a big family? You’ll likely need to buy a home with at least four bedrooms. Perhaps you or your spouse is a gourmet cook. In that case, a well-designed kitchen could be a must for you. Before your real estate agent begins a home buying search for you, he or she will want to know which home attributes you can’t live without.

2) Schools and Family Needs The quality of school systems has long been of importance to home-buying families. If you have children or are thinking about having children in your new home, you’ll want to discuss school information and statistics with your real estate agent. Not only is it important to consider the location of your home relative to area schools, but you’ll also want to think about the quality and diversity of local school offerings. Your real estate agent can provide statistics and information about both public and private schools in all the neighborhoods in which you’re considering buying a home.

3) Commuting For many people, commuting from home to work and back is a necessary evil. A long commute can detract from a home-buyer’s quality of life and the time he or she gets to spend at home. Commuting should be a critical factor in home selection, because in many communities, traffic backups are increasingly common. And today, this phenomenon applies to urban, suburban and even rural areas. If having little or no commute to work is important to you, convey this to your real estate agent.

4) Community Details Whether you hope to live in a vibrant urban neighborhood, or a charming rural town, the demographics, details and community statistics of a particular area are almost as important a consideration when buying a home as the details of the house itself. Do you want to live in the thick of the action? Prefer to get away from it all? If a particular aspect of a community is important to you—like a defined downtown area, or a strong recreation component—be sure to tell your real estate agent so that he or she can gather community information and keep this consideration at the forefront of your home search.

5) Budget Of course, the most rigid constraint of a home-buying search is typically the buyer’s budget. Defining budget parameters quickly and early focuses a home search to a particular segment of the market. However, with the creative lending solutions available today, budget constraints are not as rigid as they once were or as many home-buyers assume them to be. Many innovative mortgage options are now available to both first-time and veteran home-buyers. Before beginning a home search, you should talk to both your real estate agent and your lender about your finance options and ultimately, your budget.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Common Issues When Buying a Home to Remodel

Common Issues When Buying a Home to Remodel

Remodeling a home starts with a dream. A gourmet kitchen! Skylights! A gigantic walk-in closet! But, the dream may turn into a nightmare if you don’t plan ahead. Buying a home will arguably become your most important financial investment, as well as a major emotional investment. And, remodeling that home can make it better suited to your lifestyle and increase the house value. However, the remodeling process can seem overwhelming at times. If you’re buying a home that you plan to remodel, here are some issues to consider.

It’s always important to make home improvements to satisfy your needs and desires, not just to raise the house value. After all, you’re the one who will be living in the home and enjoying the improvements. However, if you’re making improvements in order to increase the resale value of the house, be careful not to overdo it. It is possible to add too much house value in relation to the other homes in your area, and can be difficult to recover these improvement costs when you sell the home. Also, some expensive choices, like particular fixtures or flooring, may actually make your home more difficult to sell. Talk with your Coldwell Banker® real estate professional about your remodel plans before putting on your work gloves.

While the specifics of the home you are buying will determine your remodel plans, certain improvement projects have historically provided high ROI’s, or Return On Investments. According to Remodeling Magazine, improving the quality of a kitchen—whether upgrading appliances, changing the layout, counters and cabinetry, or simply painting and swapping out drawer pulls—provides the highest ROI of any remodel project. Also, remodeling or adding a bathroom is a proven way to increase house value.

Before you purchase a house with the intention of remodeling and raising the home value, be sure to investigate the zoning restrictions and environmental regulations. Many older homes come with zoning restrictions, including pre-determined setbacks from property lines, limits on roof height, etc. If the home is on a municipal historic register, regulations will likely be even more stringent in order to preserve the house’s historic character. If the home you are buying is in an environmentally sensitive area—adjacent to wetlands or protected open space, for example—or contains a significant natural resource, additional regulations may limit your remodel plans. Such regulations can impede on house size, paving, grading soil, cutting down trees and removing native plants.

Your attorney can help you determine zoning and environmental regulations and determine if you have the correct permits to begin any home improvement project. In most parts of the world, a legal permit is required before you make structural changes to your home. The building permit and associated inspections and approvals can provide assurance that the remodeling project meets local building codes and safety regulations. If you live in a historic district this process may also provide assurance that exterior changes to your home are in keeping with neighborhood guidelines.

Lastly, before buying a home that requires a remodel, be aware that some problems simply can’t be fixed. Whether the desired improvement is prohibited by local regulations, or can’t be undertaken with your budget or timeframe, it’s important to recognize the limitations of your home’s potential.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Tips for First-Time Home Buyers

Tips for First-Time Home Buyers

Like any other life changing experience, buying a home for the first time can seem like an incredible challenge. However, once first-time homebuyers are able to organize their priorities, conduct some useful research and interact with a trusted real estate agent, confusion can quickly turn into excitement. Keeping in mind some of the basic tips outlined below can help pave the way to a successful first-time home buying experience.

Prior to researching the real estate market and hunting for mortgages, you will need to analyze your family’s goals and priorities. Take some time to reflect and determine if it is the right time to purchase your first home. You may also want to ask yourself where you want to be in the next few years and consider how purchasing a home for the first time fits into your family’s long-term goals.

Once you determine you are ready to purchase your first home, you may want to research the details of the home buying process. Though you may not understand everything you read, any insight you gain will help you avoid unwanted headaches further along in the process.

The next important step in the home buying process may seem obvious but is often overlooked during the excitement of purchasing a first home. Very simply, as a first-time home buyer, you need to determine what you can afford. Too often, first-time home buyers underestimate or simply miscalculate the costs of owning a home. Before searching for your first home, ask yourself if your income is both adequate and reliable enough to afford mortgage payments.

There are also upfront costs to consider when buying a home. Though the amount required to cover a down payment and possible closing costs will vary, there are usually some out of pocket expenses to incur when closing on your first home. Being prepared for these expenses, as well as any unexpected costs that occur after you have moved in will help your transition into home ownership.

After determining what your family can comfortably afford, you should start shopping around – for both homes and mortgages. By this time, you should have a good idea of what types of amenities you are looking for in a first home and what neighborhoods best match your family’s needs. As your search advances, you may want to attend some open houses in your neighborhoods of interest. Even if you don’t find the perfect home right away, being active in the market will give you a better chance of finding the best fit for your family.

While looking at homes, you may also want to see what types of mortgages are available to your family. If you are able to determine what rates you qualify for and estimate your mortgage payment before actively bidding on a home, you can narrow down your price range and make a confident offer when the time comes.

Though following the previous steps can help a first-time home buyer find the right home, buyers never need to go it alone. After conducting your own research, it is a good idea to find an agent you can trust. Besides being able to assist you when searching for the right home, a reliable real estate agent can help guide you through the home buying process.

If you are patient with the home buying process and do your homework before purchasing your first home, your diligence will most likely lead you to the perfect home for your family.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Making the Best Decisions When Purchasing an Older Home

Making the Best Decisions When Purchasing an Older Home

There is much information that points to the benefits to buying an older home. Older homes generally have lower purchase prices relative to newer houses. They tend to be located in established neighborhoods with an existing history of schools, transportation and commercial center offerings. Older houses have mature landscaping and period-style architecture and craftsmanship. If this type of home-buying information is important to you, you may want to consider an older house. Still, older homes come with their own set of issues. In order to make the best home-buying decision, here are five information topics you may want to discuss with your real estate agent.

1) Structural Issues The structural condition of older homes can vary greatly. It if has been maintained, the structure of an older house will likely reflect the quality craftsmanship of earlier times and will only need minor repairs, reinforcement or maintenance. More recent additions may have been built to a lower standard than the original home, and can need major repairs or renovations. If the original building has not been well maintained, you may be in for a serious structural overhaul. Neglected crawlspaces can have foundation and floor structure defects. Continuous water intrusion or past fires could have damaged structural areas that are now concealed. Be sure your home inspector investigates the structure of an older house thoroughly.

2) What is Involved with Remodeling Many people purchase an older home with the intention of remodeling it in order to make the house more comfortable and raise the home value. Like many equations in life, the decision to remodel an older home boils down to time or money. If you decide to spend more of your time and less of your money, you’ll need to be handy and have your weekends free of other commitments for several months. If you prefer to save your time, but spend more money, your real estate agent can refer you to a contractor who specializes in raising house value by remodeling older homes.

3) Zoning Issues Before you purchase an older house with the intention of remodeling and raising the home value, be sure to investigate the zoning regulations. Many older homes come with zoning restrictions, including pre-determined setbacks from property lines, limits on roof height, etc. If the home is on a municipal historic register, regulations will likely be even more stringent in order to preserve the house’s historic character. If you’re considering alternative uses for your older house, like turning it into a commercial office, building an in-law apartment, etc., be sure to ask your real estate agent about zoning specifics.

4) Cost of Operations Higher repair and maintenance expenses should be factored into the budget when calculating the total cost for purchasing an older home. Renovations, repairs and even pre-purchase inspection costs can be considerably higher than if purchasing a newer house. Also, the lack of modern insulation materials means bigger gas and electric bills in order to heat and power the house. And, major appliances, plumbing and heating systems will likely need maintenance within the first few years of your ownership.

5) Termites In an older home, it’s possible that termites and other wood destroying insects could have damaged timbers and structural supports for years before they were detected. It would be highly unusual for a house to survive for 100 years without any kind of termite/ant/beetle infestation. It’s important to determine whether there are any signs of current infestation, and the extent of the damage of past infestations. If a wood destroying insect has eaten away at the structural support of a house for a significant amount of time before being discovered, you may need to add some reinforcement to the beams and posts in the basement. It is also very important to protect against future infestations. You may want to consider having a pest control company do preventative treatments as well as periodic visual inspections.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Tips to Ensure a Smooth Move

Tips to Ensure a Smooth Move

For many families, moving can be a very stressful event. Besides coming to terms with your new life in a new home, you and your family will also need to think about moving day. Too often, families get caught up in various activities before moving day and fail to make the proper preparations. If you and your family are preparing to move, try to stay calm and organized throughout the process. For a few extra pointers on how to make your moving day a success, consider the simple advice outlined here.

Make a detailed checklist

It can be difficult to keep track of all the tasks associated with moving. Hence, you should try to organize your days leading up to and beyond moving day. If you have a reminder of what needs to be done and where you need to be, you are more likely to have a smooth moving day.

Prepare for day 1

Prior to packing all of your boxes, you may want to assemble one box of necessities for the whole family. As most families finish unpacking their trucks late in the evening, there is often little desire to open several boxes to find pillows and toothbrushes. To prevent a stressful first night in your new home, try to place anything your family might need in the first 24 hours in a separate box, mark it clearly and keep it accessible during moving. Also, if you have any valuable or irreplaceable items – such as jewelry and personal keepsakes – you should try to wrap the items well and keep them with you while moving.

To help with your checklist, you should try to include all of the following items in your day 1 box:

• Personal toiletries
• Soap
• Toilet paper
• Snacks and drinks
• Flashlight
• Screwdriver
• Pliers
• Set of plastic plates and cutlery
• Paper towels or tissue

Pack manageable boxes

Unless you have lots of large, lightweight items – such as down comforters and blankets – you shouldn’t need too many oversized boxes. Oversized moving materials often force homeowners into packing boxes that are too heavy and unmanageable. Instead, try to find plenty of midsized boxes and distribute weight evenly. Furthermore, if you are moving yourself, make sure you have all the necessary materials on hand before packing, including bubble wrap or packing peanuts for fragile items.

Label every box

When packing your boxes, try not to place items for different rooms in the same box. After sealing up each box, simply mark which room the items belong in. When you arrive at your new home, you will be able to take each box to its rightful place and each family member can spend time organizing their own space.

De-clutter as you go

As you prepare to move out of your home, try to organize your belongings and set aside unwanted items. After unpacking in your new home, you will be happy having more space and fewer items to arrange. Before moving out, you can hold a yard sale or make a charitable donation to get rid of your unwanted belongings.

Get the family involved

If you have children, help them get excited about moving. With something to look forward to – like the chance to decorate a new bedroom – children often get more involved in the moving process. Also, you may want to ask your friends and family for help on moving day. Even if no one is able to move furniture with you, a family member could watch your pet for the day or take care of errands.

Though moving day can be a very overwhelming time for families, proper organization can make help turn that stress into excitement. If you follow your timeline leading up to moving day, you and your family will have no problem approaching the big move with confidence.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Tips for Moving with Pets

Tips for Moving with Pets

If you are in the process of moving into a new home, you are most likely experiencing a number of mixed feelings. As it seems there is always so much to do leading up to moving day, along with the excitement of moving, life may seem very stressful for weeks – or months. Amongst all your own concerns, you should spend a few moments imagining how your pets might feel during this time. They might sense your anxiety and are aware of their changing environment. Likewise, they may spend much of their time inside your home and soon they will not be able to recognize their surroundings. They might be confined in a car or an airplane for an entire day, or more.

While moving into a new home can be difficult on your pets, there are a number of things you can do to make your entire family’s life easier. Here are a number of tips to help you move with your pets, safely and happily.

Make a checklist

Before moving with your pets, take a few minutes to consider what your animals might need during the stressful moving process. Start with this sample travel list for all types of pets and add or subtract to meet your pets’ needs:

• Extra medications if you are moving out of the area
• Beds, pillows and liners for your pet carriers
• Plastic scoops and bags for your dogs
• A 2-3 week supply of your pets’ usual food (in case you have difficulty finding the food immediately after moving)
• Several gallons of water from your old home (some veterinarians believe that changing a pet’s water abruptly can cause confusion and upset stomachs)
• Travel-friendly food and water bowls
• Leashes for cats and dogs
• Litter box
• Cage covers for birds and rabbits
• Paper towels
• Toys

Visit the vet

In the weeks before moving, you might want to visit your pet’s veterinarian. If you are moving out of the area, you can request a copy of veterinary records and obtain rabies and health certificates (these may be required for your pet, depending on where you move). The final visit to the vet before moving is also a good time to catch up on vaccinations and ask for recommendations of clinics near your new home. Lastly, if your pet is old or experiencing health problems, you may be able to obtain a mild sedative for your animal to aid in the rigors of car or airplane travel.

Take your time on the road

If you are traveling to your new home by car, it is recommended that you keep your pets in carriers. The carriers should be large enough to comfortably house your pets, bowls for food and water and a small litter box for cats. While you should stop periodically to let all of your pets stretch their legs and do their business, large dogs should be let out about every two hours.

Keep familiar items nearby

As your pets may become disoriented by their new surroundings, you should surround your animals with familiar items to help ease the transition. While you are traveling, keep a few toys and a favorite blanket handy. As you begin unpacking in your new home, you may want to keep your pets in their carriers with their toys until you have a chance to organize their space.

Create a room for your pets

When you arrive in your new home, you should try to designate one room for your pets. As you unpack, you should leave your pets in the room with their carriers – doors open – until they have a chance to adapt. You can also place their food and water bowls, blankets, toys and furniture in their room to help them feel at home. If necessary, you can also begin your big move by creating a pet room in your old home – a trick which could help pets behave on the road. In both cases, you will be able to organize your belongings while your pets make themselves comfortable.

Adjust to the outdoors

After settling into your new home, you should try to keep all cats and dogs on leashes when outside. Dogs typically adapt to their surroundings – especially outdoors – within a few days, while cats might need a few extra days.

Maintain your pets’ routine

Though the process of moving might throw off your own routine, it is important for pets to stay on schedule. Throughout the entire moving process, try to make sure that your pets are fed and walked at regular times. Like many of the other tips mentioned here, staying on your pets’ schedule can ease a lot of discomfort on moving day. In the end, the key to moving with pets lies simply in being aware of all of their needs. As most pet owners probably do this already, following a few of these tips to make your pets extra comfortable can help them transition into their new home.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Tips for Moving with Kids

Tips for Moving with Kids

Moving can be a life-altering experience for a child. If you are moving out of the area and your children will be attending a new school, the difficulties for children may only be magnified. However, there are plenty of things you can do for your children during the moving process that can turn a stressful event into a time of excitement. Here are some suggestions.

1. Share the news early

Once you have made the decision to move, let your children know and listen to their opinions. While some kids may be disappointed – especially if you are moving out of the area – they may find some solace in providing input. Furthermore, the more time your children have to prepare themselves for the move, the better.

2. Show some excitement

Rather than expressing regret about the decision to move, let your kids know that a new home will be an exciting opportunity for everyone. Talk about the activities your family can do after moving and the benefits of their new school. As moving day approaches, you may find that your children are looking forward to everything from decorating their bedrooms to making new friends.

3. Get the kids involved

As you make the preparations to move, try to get your kids involved in the process. To help your kids remain focused and happy, work with them to schedule some fun activities before moving out. Find some local guide books or websites that your children can read and let them serve as tour guides after moving into the new neighborhood. When packing, it can also be helpful to let children box up and label their own belongings allowing them to feel more in control of the process.

4. Incorporate some creativity

To help your kids take their minds off the stresses of moving, encourage them to be creative. Younger children might enjoy painting pictures of your old house to display after you’ve moved. Older children can keep a journal or scrapbook during moving and have a story to share later. During the moving process, you could also give your kids jobs – complete with badges and uniforms – to help them stay involved.

5. Have a party

Prior to leaving your home, throw a party for yourself and your kids. Invite the friends of everyone in the family and plan some fun, all-ages activities. Afterwards, make sure your kids receive contact information for everyone they want to stay in contact with.

6. Get acquainted with your new surroundings

Once you have unloaded the truck, try to make the first night in your new home as exciting as possible. Have fun playing hide-and-seek or a board game before worrying about unpacking and organizing. After you have settled in, start taking walks or bike rides around the neighborhood. You can introduce yourselves to the neighbors and the kids might find some new friends.

7. Get back to normal

For the sake of the entire family’s happiness, try not to take too long to resume doing what your family enjoys. If your family had a custom of bowling every Friday, try to find a bowling alley near your new home. You may also want to drive through the area and acquaint yourself with the locations of businesses like grocery stores and restaurants. When Saturday rolls around, try out the pizza parlor you found.

Though moving can be difficult on children of all ages, it can also provide something to look forward to. By keeping your kids involved during every step of the moving process, you will help them feel in control of the situation. After moving into your new home, help them understand that life will be as fun as it always was; it will just take place in a different location. Most importantly, do your best as a family to stay together and have fun along the way.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

How to Prepare for the Closing

How to Prepare for the Closing

After making the decision to buy a home, many buyers are surprised by the amount of work required for a successful closing. To ensure that you are prepared to close on the home, you may want to develop a checklist of necessary steps with your real estate agent. As you prepare to complete the sale and move into your new home, consider the tips offered here concerning the most important tasks facing homebuyers.

After you have filed your loan application and placed a deposit on the home, your mortgage lender will provide you with an estimate of closing costs. As the amount provided by the mortgage lender is merely an estimate and can change prior to closing, you are allowed to inspect all the loan documents the day before closing. Once you have confirmed the amount, including the remainder of the down payment, you will need to obtain a certified or cashier’s check. In most cases, personal checks are not acceptable for payment of closing costs, so work with your agent if you have concerns about the proper methods of payment.

Most real estate professionals recommend performing a final walk-through inspection of the home before finalizing the sale. In most cases, the contract between both parties will include a clause allowing the buyer to inspect the property within the 24 hours prior to closing. At this time, the buyer should make sure the home is vacated, all appliances that the seller agreed to leave in the home are intact and any repairs included in the terms of the sale have been completed. If needed, you can also request that the seller perform a walkthrough with you to explain all of the home’s details.

For the most part, this final walkthrough is the buyer’s last opportunity to ensure the terms of the contract are met. If any problems are uncovered during the inspection, you can work with your agent to obtain funds from the seller for repairs or postpone the closing until all repairs are made.

Another requirement of the closing process is the purchase of homeowner’s insurance. Required by nearly all mortgage lenders, this insurance protects both homeowner and lender against loss in case of damage to the home. Most homeowner’s insurance policies will include personal liability for the buyer – protecting the homeowner in the event of accident or injury on the property – and a combination of coverage against theft, fire, flood and region-specific weather concerns. By working with your real estate agent and mortgage lender, you should be able to find an acceptable policy that meets the requirements of the loan. At the time of closing, you will need to provide proof of insurance to the mortgage lender before finalizing the sale.

In some cases, title insurance may also be required by your mortgage lender. This simple policy protects both the buyer and lender in the event that problems with the title are uncovered after the sale is finalized. If required, both the lender and homeowner need individual title insurance policies, yet these are usually combined into a joint policy to be financed by the buyer.

Prior to the closing date, the buyer should also transfer all utility accounts from the seller. Besides being a required part of many closing proceedings, this small step will ensure that your new home is ready for move-in after the sale is completed.

On closing day, you can expect to sit down with the seller, your agent, your lender and the legal representation required to finalize the sale. If you have completed the steps outlined here and arrive with proper documentation, you can expect a smooth closing. In fact, if you follow your checklist prior to closing day, you can begin focusing on life in your new home as soon as you like.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Five Topics to Discuss With Your Real Estate Agent When Buying a Condo

Five Topics to Discuss With Your Real Estate Agent When Buying a Condo

If you’re looking for home-buying information, you’ve come to the right place. One of the first questions in deciding to buy a home is house or condo? If you’re leaning toward a condo, read on. Here are five important topics to discuss with your real estate agent before beginning your home buying search:

1) What You Can’t Live Without

If your version of the American Dream doesn’t include mowing the lawn, a condo might be a great choice. If you can’t live without your own backyard, a big garage, or plenty of space between you and your neighbors, your needs may be better suited to a detached single-family residence. However, if the idea of a condo sounds right, talk to your real estate agent about other important aspects of your future home. For example, a gourmet cook might seek out a well-designed kitchen. Someone who works from home might need dedicated space for a home office. Additionally, there are decisions specific to condo living which you will need to think about.  What types of association amenities are you looking for?  These can include pools, covered parking, clubhouses, and 24-hour security. Do you have a pet?  Some condo associations have restrictions regarding pet ownership or even such things as having outdoor barbecues.  Be sure to include all aspects of your home buying requirements in the information you provide to your real estate agent.

2) Schools and Family Needs

The quality of school systems has long been important information for home-buying families. If you have children or are thinking about having children in your new condo, you’ll want to discuss school information and statistics with your real estate agent. Not only is it important to consider the location of your condo relative to area schools, but you’ll also want to think about the quality and diversity of local school offerings. Your real estate agent can provide both public and private school information for all the neighborhoods in which you’re considering buying a condo.

3) Commuting

For many condo-owners, commuting from home to work and back is a necessary evil. Some people feel that a long commute can detract from their quality of life and the time they get to spend at home. Commuting should be a critical factor in home selection, because in many communities, traffic backups are increasingly common. And today, this phenomenon applies to urban, suburban and even rural areas. If having little or no commute to work is important to you, convey this to your real estate agent.

4) Community Details

Whether you hope to buy a condo in a vibrant urban neighborhood or a charming rural town, the demographics, details and community statistics of a particular area are almost as important a consideration when buying a home as the details of the house itself. Even more significant in a condo-living situation is information about your condominium’s own community. Are most of the residents retirees? Recent college graduates? The community information and statistics of both your condominium and the town or city in which it is located are crucial factors in your home-buying decision.

5) Budget and Condo Fees

For some, the decision to purchase a condo is based primarily on the convenience a condo lifestyle offers. For most people however, the most rigid constraint of home-buying and the central reason for choosing a condo is the buyer’s budget. While condos are generally less expensive than houses, a buyer should be aware of additional costs, like HOA dues. Be sure to research the condo association’s dues and exactly what those dues include. It’s a good idea to check out a one-year utility history for the unit you’re interested in, as well.

Thanks to today’s creative lending solutions, budget constraints are not as rigid as they once were. Many innovative mortgage options are now available to both first-time and veteran home-buyers. Before beginning a condo search, you should talk to both your real estate agent and your lender about your finance options and ultimately, your budget.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.