The Mavroules Team - Atlantic Coast Homes



Posted by The Mavroules Team on 8/10/2018

Open houses can be a great way to get to know a home and the neighborhood it sits in. Sure, the seller will be trying to put their best foot forward on the big day. But, youíll still be able to get a chance to tour the home relatively uninterrupted.

But what should you look for in particular when attending an open house?

There are a number of things you can learn at an open house. Many prospective buyers spend the time looking at things like paint color and cosmetic touches that can easily be changed, and very little time considering important factors that should go into their home buying decision.

So, in todayís post, Iím going to cover some of the lesser known things you should be looking out for when you attend an open house. That way, youíll know which houses are worth considering further and which ones should be left behind.

Not enough storage space

If you find yourself constantly running out of storage space (and who doesnít?), youíll want to make sure the home has ample space to store your belongings. If it doesnít, see if you can find ways to repurpose areas for storage, such as spare bedrooms or garage space.

Overly scented areas

Itís perfectly normal for a sellerís agent to place one or two choice candles in the home during an open house.

However, if you notice some rooms have an overpowering smell of candles or air fresheners, thereís a good chance itís there to mask offensive and hard to remove smells. Pet and cigarette odors are among the worst culprits.

The windows, doors, and cabinets should work like a dream

When attending an open house, take note of how well the doors open and close. If appropriate, ask the sellerís agent if you can try out the windows and cabinets as well.

Problems with these items can be signs of poor craftsmanship, cheap materials, or neglect.

Traffic and neighbors

If youíve found what you think is the perfect home, it can be easy to see the world through rose-colored lenses.

However, itís important to take them off when looking around the yard. Take note of the traffic level, and the amount of privacy the home receives. If you like the home, itís also a good idea to stop by the neighborhood during rush house to gauge how traffic would affect your commute.

Air flow issues

Improper ventilation can lead to mold growth, especially in bathrooms and kitchens. Make sure bathroom vents and fans work properly, and check windows for condensation.

In rooms with sinks, check around the base of the sink and counter for signs of water damage or mold.

Large cracks in foundations or ceilings

While small, hairline cracks in the foundation of a home are completely normal, large ones can be dangerous.

They can allow water and pests to enter the home, causing all types of costly damages.


Keep those six tips in mind when you attend the open house, and be sure to bring a list of any other questions you might have for the sellerís agent.





Posted by The Mavroules Team on 7/13/2018

Buying a home as a single individual comes with its own set of unique experiences and challenges. Some are to be expected, like financing with a single income. While others not so much, like a more competitive market.

You know that financing will be based on your sole income. However, the vast majority of homeowners are couples who have dual incomes. Your eligibility is going to be very different than that of a couple and for some home buyers when they receive a lower number this comes as a shock. Expect to see numbers that are on the lower side of those who apply as couples.

Since you are on a sole income you may want to look into various loan types such as those that offer low-interest rates and lower down payments. Two to look at are first-time buyers programs and FHA loans.

When comparing options watch the lenders fee in comparison to the interest rate. Where you may have low-interest rate it might come with a higher lender fee. Do the math on these ratios to get a true value of each.

Before applying for mortgage approval, clean up your budget and handle any existing debts, especially expensive ones. Pay off card balances, refinance student loans, and swap out expensive monthly car payments for one that is more reasonable.

Draw up a budget and get really clear on just how much house you can afford month to month. Include the cost of house ownership and maintenance in your budget in addition to the cost of future monthly mortgage payments.

As a sole earner having savings is incredibly important as you donít have a second income to rely on. In addition to setting aside your down payment (as close to the recommended 20% as you can), build up a nest egg of three to six months worth income should anything misfortune arise.

Start the buying process well prepared with the right mindset. Smaller houses make up a lower percentage of the housing market and cheaper homes are competitive when it comes to the buying process. Be ready for a search that might go a little longer and a buying process that needs you to move a little faster than traditional ones.

Bring a trusted friend or family member with you to home viewings to have a sounding board for your decision process. Itís easier to get swept away emotionally when you donít have a partner to hash out the gritty details with. Find someone who can come to each viewing with you so that you can compare the different homes proís and conís together.

Buying a home as an individual is a unique process but it doesnít have to be a difficult or lonely one. Ask for feedback from your realtor, bring a trusted friend and know what to expect from the buying process as a sole income earner.





Posted by The Mavroules Team on 6/15/2018

Buying a home is one of those things in life that requires you to take a certain order of steps to complete the process. First, youíll need to save up some money for a down payment and all of the other costs that go along with buying a home. Next, youíll take a look at what you can afford and perhaps get pre-qualified. Then, youíll hire a realtor and begin searching for properties. Finally, youíll make an offer, sign for the mortgage and close on the home. After that, youíll probably buy some furniture and paint the walls to make yourself feel at home. 


Would you ever dream of making that big home purchase without actually seeing the property first? One of the most time-consuming parts of the home buying process is that of viewing homes and visiting property after property. 


There are actually many reasons that a buyer might buy a property without seeing it first. With the Internet, itís fairly easy to get an idea of what a house might be like. Too, if youíre an investor, itís sometimes worth the gamble to scoop up a property at the right price in order to score a great deal. 


Itís also usually not detrimental to buyers who are trying to get a home in a high competition market to go after places they really love immediately. The early bird does get the worm, right?


Foreclosed Properties 


Properties in distress may be in poor condition, but for the right buyer can be a great deal. Banks want to get rid of these places as soon as possible due to the expenses incurred by keeping them. 


Pre-Construction Properties


Not all properties that are bought sight unseen are fixer uppers. Some properties can be bought in the pre-construction phase. These homes havenít been built but are already on the market available for purchase. Many times, buying properties this way can be cheaper than buying the new construction home after itís built. 


The Risks


There are obviously many risks to buying a home sight unseen. First, pictures can be deceiving. You never really know what youíre walking into until you see it. Photographs can easily hide major damage. Until a home is physically inspected, you may not know what the costs will be to repair it. 


The same risks apply to new construction homes. The layout of the home may not be what youíre looking for, or the home may not include the features that you want.


When you do decide to buy a home sight unseen you need to weigh the risk versus the reward in the transaction. It can be a valuable decision, in the long run, to take a chance on buying a home that you havenít been able to physically inspect.       

 





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Posted by The Mavroules Team on 6/8/2018

Want to relocate to a condo? With assistance from a real estate agent, you should have no trouble moving into the condo of your choice.

Employing a real estate agent with condo experience is ideal, particularly for property buyers who are considering condos for the first time. However, it is important to note that not all real estate professionals with condo experience are created equal, and some stand out for all the right reasons.

Ultimately, there are several factors to consider as you search for a real estate agent to help you find the perfect condo, including:

1. Expertise

How many years has a real estate agent been assisting condo buyers? Does a real estate agent know how to get information from a homeowners' association (HOA)? And can a real estate agent set up condo showings at your convenience? These are just a few of the questions that condo buyers need to consider before they employ a real estate agent.

As a condo buyer, there is no need to settle for a subpar real estate agent. In fact, real estate agents with condo expertise are available across the country. And if you conduct a comprehensive search for the right real estate agent, you should have no trouble finding a real estate professional who can guide you along each step of the condo buying journey.

2. Communication Skills

How does a real estate agent keep in touch with his or her clients? Try to find a real estate agent who provides regular updates throughout the condo buying process. This real estate professional will make his or her clients a priority and do whatever it takes to help them get the best results possible.

Ideally, you should be able to get in touch with a real estate agent via phone, email or text. And if a real estate agent is unavailable, you usually should expect to hear back from him or her within a few hours at most.

A real estate agent who is readily available will be able to provide you with the condo buying support that you need, any time you need it. As a result, this real estate professional can keep you up to date about new condos as they become available, the state of negotiations with a condo seller and much more.

3. Client Satisfaction

Are past clients satisfied with the support that they received from a real estate agent? Ask a real estate agent for client referrals to find out.

Reaching out to past clients can provide you with a better idea about how a real estate agent will assist you during the condo buying journey. That way, you can determine whether you will feel comfortable working with this real estate agent or if you should consider other options.

Dedicate the necessary time and resources to find a great real estate agent to help you find your dream condo. By doing so, you can move one step closer to making your condo ownership dreams come true.




Tags: Buying a home   Condo   buyer tips  
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Posted by The Mavroules Team on 5/4/2018

When itís time to buy a new home, youíll hear a lot about the importance of location. How can you choose a place? Whether youíre moving around the corner or across the country, there are a few essential things that you should know in order to select the best place for you to live. Read on for some questions that you should ask yourself when trying to find a good fit for a  location to live. 


What Should Be Close?


Thereís more to a home than what schools are nearby or how close you are to work. While these things are essential, youíll need to understand more about our lifestyle to find an excellent location. Youíll have to look at your life and your familyís life on a day-to-day and weekly basis. What types of activities do you enjoy? How close do you want to be to a grocery store, a gym, or a shopping center? How close do you want to live to the city? The mountains? The beach? Does your family enjoy outdoor recreation like hiking or walking through the park? Making sure that the things that are important to you and your family are accessible will be a big part of choosing a location to move.


How Walkable Is The Neighborhood?


If your kids will be walking t school, or you enjoy daily strolls with the family dog, the walkability of a neighborhood is important. Many places allow you to walk everywhere right out your front door to the grocery store or the hair salon without ever setting foot in a car. You may even want to be able to walk to a bus or subway in order to get to work each day. Walkability is an important aspect to consider when looking at home locations. 


Who Lives Nearby?


You may want to consider who lives nearby when looking at different neighborhoods to move. If you wish to live near family or know some good friends who live close, this could be a good starting point for finding the right location to live. Itís always easier to make the transition to a new area when you know a few people.


How Quiet Is Too Quiet?


Some people love peace and quiet. Other people need a lively environment that allows them to access the hustle and bustle any time they choose. Knowing your want for peace is a big lifestyle choice and a large part of selecting a location to live in. The closer you move to a big city, the easier your access to the more exciting side of life will be. The further away you live from the city, the more likely you are to have more quiet.      




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