Kathryn Jean Keller

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Expecting Children: How to Quickly Move into a Larger Home Before a Baby Arrives

August 24, 2022 by Kathryn Jean Keller

Expecting Children: How to Quickly Move into a Larger Home Before a Baby ArrivesStarter homes are incredibly popular for young couples who plan to have a family in the future but don’t need a large place yet.

Life moves pretty fast sometimes and many couples find themselves expecting children before they have begun to look for the next home. This shouldn’t be a problem, as moving into a larger home before the baby arrives can be a lot easier than it appears.

Always Move Before The Baby Is Born

There is a choice when upgrading a home for children: moving beforehand and settling down in advance of having kids or waiting until after having the child and dealing with a move later on.

It may be tempting to wait until the stress of a pregnancy is over to move into a larger home. After all, selling and buying houses can be a tiring process for anybody, let alone expectant parents. Just remember, no matter how difficult or stressful the move is it will be one hundred times worse after having kids.

Work With A Professional To Help Coordinate The Move

There is nothing wrong with rushing through a purchase or the sale of a home, as long as everything is done correctly. A situation like this is never the right time to assume control and responsibility for every aspect of the move.

A real estate professional, once told of the situation, will know exactly how to handle everything. From preparing a current home for sale to finding a larger house in the right price range, a professional will have experience in coordinating the process.

Prepare For The Move In Stages

The best way to go about facilitating a quick move is to go in steps. Everything in the house that is not necessary to the staging should be boxed up and moved into temporary storage before the home is shown.

This is beneficial because it removes all clutter from the house and helps to make a quick sale and also allows for many personal items to be moved into the new house without having to wait for the current home’s sale to close. Instead of one gigantic move, the process can be broken down into several smaller moves to relieve some stress.

When there is a deadline on a move, you can increase your chances of selling your current home and buying a new one by using the services of a real estate professional. When things are done fast they need to be done right and a professional with experience can facilitate the entire process while making sure nothing slips through the cracks.

Home Buyer Tips Tagged: Buying a Home, Home Buyer Tips, Moving Tips

3 Key Reasons Why Buying Your First Home Is Like Planning a Wedding

July 21, 2022 by Kathryn Jean Keller

3 Key Reasons Why Buying Your First Home Is Like Planning a WeddingYou may not see the connection right away, but buying a home and planning a wedding are two experiences that require certain skills and challenge you in similar ways. Check out the three key similarities below!

1. Budget

Whether you’re buying your first home or planning a wedding, you are likely facing one of the biggest financial obligations of your life. That’s why, in both cases, it is essential that you pick a realistic budget and stay within it.

Sounds simple, but in either case it can be difficult! Unexpected obstacles may force you to spend more than you planned, or you may find yourself wanting to overspend as you find things that would be “just perfect” additions even though they don’t fit your budget. These temptations can be expected, but it’s important to remember the big picture. When it comes to your budget, pick it and stick it.

2. Details

When it comes to a home purchase or a wedding, there are countless details to consider. It’s not a simple, pre-packaged purchase, there will always be big decisions that you have to make and if you overlook something you may regret it later on.

Some decisions that you face will be similar in both experiences: Does the location work for you? Does it work for your friends and family? What is the parking situation? Is it appropriate for the climate? Will you be satisfied with your decision in the long-term?

Other details will be more unique to the situation: Do you need a cocktail hour? Do you need a walk-in closet? What style of photography would you like? Is there too much traffic noise?

Either way you’ll have lots to think about, and you’ll become acutely aware of ‘the little things.’

3. You’ve Got Style

Both your wedding and your home say something about you, they’re a reflection of your personal style. When being presented with so many choices that are particularly catered towards your personal taste, you’ll learn what you like and what you don’t. However, you’ll also learn what it is that you absolutely need, and what you’re willing to budge on.

Whether you’re choosing a wedding dress that is both gorgeous and functional for your ceremony or deciding whether or not you need an extra bedroom in your home, you’ll learn what it is that you’d want in a perfect world, and what is absolutely necessary for your current situation.

Home Buyer Tips Tagged: Buying a Home, Home Buyer Tips, Real Estate Tips

3 Closing Costs That Most Buyers Forget to Factor in and What You Can Expect to Pay

June 22, 2022 by Kathryn Jean Keller

3 Closing Costs That Most Buyers Forget to Factor in and What You Can Expect to PayIf you’re in the process of buying a home, you probably have your deposit and monthly mortgage charges in a spreadsheet, along with a chart of your other expenses and your monthly income. But when it comes to buying a home, there are lots of different costs that will come into play – and it’s easy to forget something. When you’re preparing to close on your new home, make sure you consider these three closing costs that most buyers forget.

Home Inspection Fees: A Small Charge For Peace Of Mind

Most home purchase agreements are contingent upon a successful home inspection – and if you’re planning to buy a home, you should definitely have it inspected before you buy it. However, home inspectors don’t work for free, and you’ll have to pay a home inspector for a thorough evaluation of the premises.

Home inspection fees depend on the kind of property you’re buying, and can vary depending on your location. For a condo unit, you will typically only need to pay about $250, but a single-family home might cost up to $500. Luxury properties are often more expensive, sometimes even running as high as $1,500.

Private Mortgage Insurance: Obligatory With Small Down Payments

If you’re only planning to make the minimum down payment on your home, you’ll need to buy mortgage insurance. Mortgage insurance protects the lender in the event that you default on your loan. This is an added cost that your lender pays, and in general, almost every lender will pass the cost on to you.

You can pay for your mortgage insurance in one large payment, or you can add it to your monthly mortgage payments. Note that if your down payment is less than 20% of the purchase price, you’re legally required to buy mortgage insurance.

Lender Fees: Additional Fees to Process Your Mortgage

One category of closing costs that buyers often forget is lender fees. Lender fees are fees that your mortgage lender will charge for processing the transaction of the loan. These can include appraisal fees, credit report fees, processing and application fees, and administration fees for underwriting.

These fees can range depending on the lender, but in many cases they exceed $3,000. You’ll want to budget about $3,500 to $5,000 to be safe.

Buying a house is a major undertaking, and there are lots of ways that the process could go awry. But a good mortgage professional can help you navigate the process and get the home and the mortgage you’ve always wanted without any issues. Contact your trusted mortgage expert to learn more.

Home Buyer Tips Tagged: Buying a Home, Closing Costs, Home Buyer Tips

3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy

June 10, 2022 by Kathryn Jean Keller

3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You BuySavvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment, but the closing costs as well. The closing costs can account for as much as three to five percent of the sales price in some cases, so this can be a rather sizable amount of money. Some home buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased. With a closer look at why this is, home buyers can make a more educated decision when selecting a home to purchase.

Prepaid Taxes And Insurance

One of the most significant closing costs relates to prepaid taxes and insurance, and both of these expenses are directly tied to the location and value of the property. Consider that the property tax rate can vary based on the city, county, and state. Real estate insurance can also vary based on the type of construction of the home, if the home is located in a flood plain, and other factors. These are only a few examples of how the location and property type can impact these fees, and home buyers should consider the costs assoicated with the tax rates and insurance when selecting a property to purchase.

Third Party Reports

There are several third party reports that are commonly paid for at closing, and these include an appraisal, a survey, a pest inspection and a property inspection. The third party reports may vary in cost based on the size of the home, the amount of land that is being purchased, and even the condition of the property. Those who want to keep their closing costs lower may consider learning more about how these fees are calculated up-front before finalizing their plans to buy a specific home.

Title Insurance Fees

Title insurance fees are another typically sizable expense for home buyers, and this insurance offers protection to the lender if the title is not clean. Title insurance can increase based on the size of the property as well as different factors that are revealed with a title search. This information can be difficult to learn with an initial home search, but home buyers should be aware that title defects can increase closing costs.

The location, size, age and construction of a property all impact the closing costs. Those who are shopping for real estate may be inclined to make a decision that keeps closing costs down, and they can reach out to their knowledgeable mortgage professional for more assistance with their particular situation.

Home Buyer Tips Tagged: Buying a Home, Closing Costs, Home Buyer Tips

How to Determine How Big of a Down Payment You Need

June 8, 2022 by Kathryn Jean Keller

How to Determine How Big of a Down Payment You NeedWhether or not you’re new to real estate, there’s little doubt that you’ve heard the term down payment as it relates to purchasing a home. There’s a lot of different information out there in regards to how much this figure should be and it can be hard to determine exactly what the importance of this payment is. If you’re trying to determine the ideal amount to put down, here are some things to consider.

Explaining Down Payments And Why They’re Important

The down payment is probably one of the largest single payments you’ll make for anything, and this is why so many people save for years. When you buy a home, the down payment is the amount of money that goes into the initial home investment, and this is taken off of the cost of the house. In essence, while this money qualifies as an asset, it is tied up in paying off the total cost of your home.

The Differing Amounts For Down Payments

It’s often the case that many figures are thrown around in regards to the ideal down payment percentage, and they generally vary from 3-20% of the home’s cost. If you are paying a percentage on the low side of the scale, this can unfortunately mean that you will have fewer mortgage options and will be stuck with an increased interest rate. The amount you should pay depends on your financial health and purchasing commitment, but the larger the down payment is, the more minimal your monthly payments will be.

Deciding The Perfect Percentage

Saving up 20% of a home’s total price may seem like a lot of time and effort, but this can be the ideal amount to put down. In addition to lowered monthly payments and a better interest rate, you’ll also be able to avoid Private Mortgage Insurance (PMI), which is required if you put down less than 20%. There is no right answer to the question of how much to put towards a down payment, but you may end up spending less in the long run if you can invest more in the beginning.

There are many figures thrown around when it comes to real estate, but the amount of a down payment should be economically feasible for you and enable you to make your monthly payments consistently. If you’re planning on purchasing soon and are looking for home options, you may want to contact your trusted mortgage professional for more information.

Home Buyer Tips Tagged: Buying a Home, Down Payments, Home Buyer Tips

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