Kimberley Martin - Homes of New Hampshire Realty



Posted by Kimberley Martin on 6/17/2018

In your search for a home, thereís one option that you may be overlooking. That is the act of sharing a home with others. It can help you to divide the expenses of homeownership and even put you on a faster path to homeownership. When you do decide to share the cost of homeownership with others, thereís a few things that you should know.


Thereís so many different advantages to co-buying a home with a relative, even as a married couple. You do need to make sure that the arrangement is well thought out and planned ahead of time. 


The Title


When you buy a house, you receive whatís called a title. In the case of co-ownership, it explains how the buyers are sharing the title. The way the title is set up could have consequences down the road, especially when it comes to one person exiting the house, and parting ways with the agreement.  


When Sharing A Property With A Non-Spouse


When youíre sharing the property with a non-spouse, you have a few options. These include:


Tenant In Common


With this option, thereís no need for a 50/50 split. Buyers are allowed to own unequal interests in the property. If one of the co-owners were to pass away, their ownership would be transferred to one of their beneficiaries. For this reason, tenant in common is the most popular way that buyers who are not related agree in guying a property together and take on the title.     


Joint Tenants With Right Of Survivorship


With this option, co-buyers have no option but to own equal interests in the property at hand as a 50/50 split. If you bought a home with two other people, youíd each have one-third interest in the home, and so on. If one tenant passes away, the remaining owners gain the deceased ownerís percentage of interest in the property. Thereís no need for a court proceeding or probate, this happens automatically. Even if the deceased owner has a will designating their portion of the property be given to someone else, the request is null and will generally be refused.   



Both of these co-ownership options allow for an undivided interest in a property. All owners are co-owners as a part of the entire piece of property. If one owner wants to sell, for example, they would be selling their tenancy or part interest in the property.       

Important Things To Do:


  • Create a co-ownership agreement
  • Clarify who owns what percentage
  • Decide who pays the ongoing expenses
  • Give options if any owners want out in the future


You could draft one of these agreements with a qualified attorney. Itís a good idea to sit with everyone before the purchase of the property is made to talk and lay out all of the expectations. Everyone should have one of these agreements in writing, however. 


While sharing a property purchase can reduce your debt, itís important to make smart agreements and understand whether the decision makes sense for you and all parties involved.





Posted by Kimberley Martin on 6/10/2018

There are countless variables in life which make it nearly impossible to predict the future. Whether you're talking about your own life, your children's future, or how society will change in coming years, we can only make educated guesses about where any of us will be in a decade or two.

One of the few things we can predict with a high degree of certainty is the continued growth of the senior citizen population. According to the Institute on Aging, the percentage of retirement-age adults in the United States will reach 20% by the year 2030. That's when the youngest members of the so-called "Baby Boomer Generation" will turn 65.

Although the proportion of older Americans will level off after that, the actual number of people in that demographic group will keep increasing. An advantage of growing older in the next few decades is that we will be in good company! As a result, services, societal attitudes, and government programs will likely be more in-tune to the needs of an aging population.

Empty Nest Syndrome

When children grow up and leave the nest, middle-aged parents often look around them and re-evaluate their needs. As more people reach retirement age, a major lifestyle decision many couples will be weighing is the possibility of "downsizing." While they may still want to be able to have enough room for family gatherings and overnight guests, a large home may no longer fit their lifestyle or financial goals.

Buying a condo, cottage, or other type of smaller home can offer retirees a lot of benefits, especially for those ready to scale back on property maintenance. Moving into a gated community or planned development can free you from the burden of lawn mowing, landscaping, and other time-consuming maintenance tasks. Since these potential benefits may also come with restrictions, it pays to fully understand and feel comfortable with Homeowner Association agreements.

There's also the option of purchasing a smaller and easier-to-manage new home in which you don't have to comply with the requirements and fees of an HOA. For senior citizens of all ages, moving to a house that has a smaller yard to maintain and fewer stairs to climb can make life a lot easier. More compact homes also bring with them the advantages of lower heating and cooling costs.

Depending on financial resources and goals, some Baby Boomers decide to keep their family homestead and buy a second property for vacation purposes, rental income, or a combination of both. While that may seem like the opposite of downsizing, costs can be offset by renting the vacation home to reliable tenants or sharing it with family and friends. Owning a second home also gives you the option of transitioning completely to it when you are ready to downsize or relocate.





Posted by Kimberley Martin on 6/3/2018

For home sellers, it is essential to dedicate the necessary time and resources to streamline the process of adding your property to the real estate market. In addition, you should prepare for any challenges that you may encounter after your home is listed. By doing so, you can avoid many costly mistakes.

Ultimately, there are numerous costly mistakes that may prevent a home seller from optimizing the value of his or her residence, including:

1. Underestimating Your Closing Costs

Closing costs may put a major dent in how much you obtain for your house. Fortunately, you can calculate your closing costs before you sell your home.

Consider all of the expenses that may be included in your closing costs. From attorney and other professional fees to excise tax expenses, you'll want to account for any and all costs that may impact how much you'll earn for your house.

Also, if you ever have concerns or questions about closing costs, be sure to consult with a real estate agent. This housing market professional can explain how closing costs work and help you plan accordingly.

2. Guessing Your Home's Price

What you paid for your home several years ago is unlikely to be what the same as what your house is worth today. Thankfully, you can meet with a home appraiser to determine the true value of your property.

A home appraisal offers a great first step to determining the right price for your home. Meanwhile, a home appraiser may be able to help you identify home problems that you can correct prior to adding your home to the real estate market.

Furthermore, don't forget to check out the prices of comparable homes that are available in your area. This will provide you with the housing market data that you need you to price your home competitively from the get-go, boosting your chances for a quick home sale.

3. Letting Your Emotions Get in the Way

Let's face it Ė listing your home can be stressful, particularly for a first-time home seller. However, it is important to do whatever you can to prevent your emotions from getting in the way of selling your home.

Setting realistic home selling expectations may enable you to remain calm, cool and collected after you list your property. Luckily, real estate agents are available to guide you along the home selling journey and ensure that you are fully supported at every stage.

Your real estate agent will offer expert tips and recommendations, allowing you to understand the ins and outs of the real estate market. He or she also will negotiate with homebuyers on your behalf, keep you up to date about offers on your residences and host open houses to promote your residence to a broad array of homebuyers. Thus, your real estate agent can help you avoid the stress and anxiety that is commonly associated with selling a home.

Avoid the aforementioned home selling mistakes, and you should have no trouble maximizing the value of your residence.




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Posted by Kimberley Martin on 5/27/2018

Purchasing your first home will be one of the most rewarding and fulfilling parts of your life. Itís an important milestone on the way to financial independence and to starting a family for millions of Americans.

It also comes with a lot of responsibilities and unforeseen expenses.

A Reddit user asked the online community what items ended up being useful to them that they didnít think about beforehand. The result was a ton of great advice for new or soon-to-be homeowners.

In todayís post, Iíve broken down the most useful items from all of their responses. So, if youíre going to be a

1. Information about past purchases

One user found that the most useful thing the previous owner left behind were a number of receipts for appliances that would be left in the house. In addition, they also left a list of model numbers for important parts like faucets, and list of all of the paint colors used in the house.

In addition, the previous homeowners even left a binder full of menus for local restaurants. While the seller of your next home might not think to leave behind all of this useful info for you, it doesnít hurt to ask in case they have some of that information saved that theyíll no longer need.

2. Ten thousand dollars

While this comment may be a bit tongue-in-cheek, it does illustrate an important fact for new homeowners: expect to spend some money. As the poster pointed out, there isnít necessarily one thing that youíll need. More likely, youíll find yourself running to the hardware store often for a number of small purchases.

Setting aside some money for these initial expenses is a good idea so that you can get the most out of your home in the first few months living in it without worrying about how or when youíre going to replace some of the many small, but annoying, fixes youíll experience in your new house.

3. A steel hand cart

From day one and onward, youíll be moving a lot of things around your home. Heavy objects like dressers, drawers, refrigerators, and other furniture and appliances will often require two people to move. Well, if you live alone or you and your spouse work different hours, it isnít always possible to have two people around to help lift and move something. To save time and prevent injury, having a dolly (A.K.A. a steel hard cart) on hand will make things easier.

4. Check your cell phone signal before moving day

In spite of the claims of the major cellular carriers, there are still many areas of the U.S. that have little or no reception. This can come as a shock on moving day if you havenít planned ahead.

Fortunately, you can purchase a device called a microcell to boost the cellular signal in your home, preventing dropped calls.

5. A Carbon monoxide and smoke detector, and fresh batteries

As much as you may trust the previous owners, thereís no way to be certain that there arenít any fire or CO hazards in the home that youíre unaware of. Getting new detectors, batteries, and installing them immediately will help you rest easy on your first night.




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Posted by Kimberley Martin on 5/20/2018

Do you have what it takes to be a responsive homebuyer? Ultimately, your ability to respond to requests from home sellers and others may dictate your homebuying success.

Becoming a responsive homebuyer can be easy Ė here are three tips to ensure you can do just that.

1. Learn About the Housing Market

A responsive homebuyer understands that he or she has a lot to learn about the housing market. As such, this individual will allocate the necessary time and resources to analyze the real estate sector.

Typically, a responsive homebuyer will perform comprehensive online research. This will help a homebuyer assess a broad range of residences so he or she can tailor a home search accordingly.

Let's not forget about a responsive homebuyer's diligence, either.

A responsive homebuyer may work with an expert real estate agent, i.e. a housing market professional who knows what it takes to land a top-notch house at a budget-friendly price. By doing so, this homebuyer can boost his or her chances of streamlining the homebuying process.

2. Be Available

Are you ready to check out houses as soon as they become available? A responsive homebuyer should have no trouble tracking the housing market and staying up to date about new residences. That way, this individual can act quickly if he or she discovers the perfect home.

An informed approach can make a world of difference, and in most cases, separates a responsive homebuyer from an ordinary property buyer.

Usually, a responsive homebuyer will study the housing market closely and track new houses daily. This property buyer also may collaborate with a real estate agent who will keep him or her informed about new houses that become available.

Perhaps most important, a responsive homebuyer will be ready to accept phone calls, emails and texts throughout the homebuying cycle. He or she will even be open to communication with a home seller Ė something that may help this homebuyer acquire a first-rate house.

3. Offer Positive Responses to Feedback

Although a responsive homebuyer is eager to learn about the real estate sector, he or she won't pretend to be a housing market expert. In fact, this individual often is happy to receive feedback throughout the homebuying cycle.

A responsive homebuyer may consult with a real estate agent who can offer homebuying recommendations and suggestions. This homebuyer may not always agree with a real estate agent's advice, but he or she also will listen to everything that a housing market professional has to say.

Becoming a responsive homebuyer may seem like an uphill climb. However, with support from a real estate agent, you may be able to accelerate the process of transforming your homeownership dream into a reality.

Real estate agents are available in cities and towns nationwide and serve as homebuying guides. These housing market professionals can help homebuyers find residences that they can enjoy for years to come.

Take the next step to become a responsive homebuyer Ė use these tips, and you can move one step closer to securing your ideal residence.




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Kimberley Martin
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