How to Decide if a Neighborhood is Right for You
Say you’ve found a house for sale in an area that’s unfamiliar to you. How do you figure out if it’s going to be the ideal neighborhood?
The first step is to take a walk. Stroll the neighborhood and explore. If you get the chance, chat with homeowners and get their opinions of the area. Ask what they love about it. Also ask what they don’t like.
Next, determine how the neighborhood is going to fit with your lifestyle. You’ll want to consider things like commuting routes, local amenities, schools, parks, shopping, etc. Google Maps is a great tool for this. Just turn on the satellite view and get a bird’s eye view of the area and its features.
Finally, get the latest data on neighborhood characteristics such as noise, demographics, crime rates, and more. You’ll be surprised by how much data is available, and the valuable insights you can gain about what it’s going to be like to live there.
If the neighborhood turns out to be a good fit, consider making an offer on that house!
Considering Contractor Factors
At some point, every home needs to be upgraded to become more functional for the family members who live there – or for resale. However, a major renovation can be frustrating, unless you’re working with a reliable,
knowledgeable general contractor. Here are some suggestions to help make your project go smoothly:
1. First, do your homework in advance. Identify needs and wants, such as design features and style, with an open mind about costs, timing and resale value.
2. Ask reliable sources for recommendations, but don’t make commitments without meeting a number of contractors. Ask about adherence to budget and timing as well as advice on expectations. Ensure each contractor is registered in good standing with your municipality, and can adhere to building codes, secure permits and provide liability protection.
3. Interview at least three qualified contractors. Find out about their choices for architectural drawings or plans, subcontractors, suppliers and materials. Confirm the product and labor warranties they provide. Once satisfied, request that these and other details be included in a quotation with costs, completion dates, payment schedules for workers and materials, plus allowances for changes.
4. Meet on-site regularly, keep a journal and get receipts for purchases. Don’t pay cash, or hand over your credit card. If necessary, ask your bank to issue a new card with strict limitations.
When a Buyer Makes an Offer, What Happens Next?
Imagine you’re selling your home and an offer from a buyer comes in. You’re excited. Your home might soon be sold!
What happens next?
Typically, we will review the offer together. There will likely be several things about the offer that need to be carefully considered. The most common are:
- The offer price.
- Evidence the buyer is financially able to purchase the property.
- Conditions on the offer, if any.
If the offer price is far less than you anticipated, there might be an opportunity to counter-offer at a higher price. This is part of the art of negotiation, which is an important step in selling your home successfully.
The buyer’s ability to afford your property is also important. Ideally, you’ll want to see a Pre-Arranged Mortgage Certificate from the buyer’s lender, or some other evidence that there won’t be any financial problems closing the transaction. The amount of the deposit is also key.
Finally, you’ll want to look at conditions. The most popular condition requires that your property pass a home inspection, but there may be others. Obviously, an offer with no conditions is ideal.
