Kimberley Martin - Homes of New Hampshire Realty



Posted by Kimberley Martin on 9/16/2018

If you live in one state, but are trying to buy a home in another state, youíll face some obvious challenges. Thereís certain steps that you can take to help you get through the home buying process in another state. Whether youíre buying a vacation home, or are in a complete transition, youíll need to follow a few steps to make life easier for you. 


Know How Much Time You Have


First, youíll need to ask yourself when youíre planning to move. If you have flexibility and are planning a trip to the new state before you need to move, that paints a much different picture than a more rushed move. Consider:


  • The time it will take to sell your current home
  • When the closing will be on the new home


Keep that timeline in mind.


Youíll definitely want to hire a realtor to handle everything for you on both ends when youíre in this situation. A Realtorís knowledge and experience is definitely worth it to help you.


Get Your Finances In Order


Youíll need to apply for a loan on the home youíre buying in the new state. You should start by getting pre-approved for a mortgage in that state. You donít want all of your important paperwork to be buried in the midst of packing and moving. Also, youíll need to have that loan secured before you even head to the new state to close on the home. Everything should be in order. This situation may be more challenging for you than a typical home purchase. Since big purchases affect your credit score, youíll need to hold off on buying a car, furniture, or any major appliances that you may need. 


Get As Much Information As You Can


As a buyer who is from out of state, youíll need to do your homework. Maybe you have visited the state many times before. Perhaps you know nothing about it. The more you know ahead of time, the easier that your transition will be. Youíll need to find recommendations about which neighborhood to search in. Youíll also want to learn a bit more about the lifestyle the area provides for activities like dining, entertainment, and recreation. You can learn a lot in the internet, but talking to locals- even a local realtor- can help you to find the right spot to live in. 


Find The Right Realtors


Youíll need to find the right realtors in both your home state and the state that youíre moving to. The sellerís agent will assist you in getting your old home sold. From marketing the listing to home showings to sending you all of the paperwork that youíll need to sign, a sellerís agent is very valuable to someone who needs to move out of one state and into another. 


The buyerís agent can help you in your new state, communicating with you on new listings and advising you on the neighborhoods that youíll be the most happy in. Hiring these two realtors may be one of the most important steps in your feat of moving across two different states.


With the resources that are available online, moving from state-to-state isn't as hard as it may seem. Do your research for a smooth transition. Happy moving!




Tags: Real Estate   moving tips  
Categories: Uncategorized  


Posted by Kimberley Martin on 9/9/2018

If you are thinking of buying your first home, youíre thinking of making the single biggest purchase of your entire lifetime. Real estate is complex. From getting finances in order to understanding the entire process to securing the home you love, thereís so much that youíll need to know when it comes to buying your first home. 


What Is A Down Payment?


A down payment is a one-time cash payment that youíll provide at the closing table when you buy a home. How much your down payment is will have an effect on how much your monthly mortgage payment will be. It will also affect your initial home equity value. 


Should You Keep Renting?


First, youíll need to think of a savings goal and a timeline. The general rule is that if you own a home for at least 5 years, you have gotten your ďmoneyís worthĒ out of the closing costs and the fees you paid at the time you purchased your home. If you donít think youíll stay in a home for at least 5 years before making another move, you may want to consider renting until you know where you want to settle. 


What Can You Afford? 


Youíll need to calculate just how much home you can afford. Look at potential monthly mortgage payments plus taxes, fees, insurance, utilities and other monthly expenses that you have.


In dual-income households, itís nice if the living expenses can be covered just by one personís paycheck. Once you have an idea of your budget, you can price out homes that will meet your needs and be in your price range. 


Why You Should Save More


The best practice in buying a home is to put 20% down on the house. With this sizable down payment, it will be easier to get approved for a mortgage. Youíll also avoid needing PMI (private mortgage insurance.) This is an additional cost for people who put down less than a 20% down payment. This can cost you a lot of money each month, so itís best to save as much as you can for that initial down payment. 


Donít be discouraged. You can still buy a home with a lower percentage of a down payment, but youíll have to pay for the PMI and include the additional expense in your budget. The Federal Housing Administration has many different options available that allow you to put a smaller down payment on a home, so do your homework.  


How To Save 

           

Once you get an idea of about how much youíll spend on your home, you need to take action and start saving. There are many ways that you can save automatically without even thinking about it. You can choose a fixed amount or percentage of your paycheck and save it automatically into the house fund. Save as much as you can so youíll be able to make your home purchase more quickly. You may even want to consider putting your money into a money market account for a higher return on your savings once you reach a certain goal. 


Donít Forget To Save Your Bonuses


Whether you have received a gift or a sizable Christmas bonus, make sure that you put that money away towards your home purchase. Every little bit helps. While we may have an inclination to want to spend the money on more immediate things, youíll be happy that you saved your money when you head to purchase your house! 


Use Your IRA


The IRS allows a tax benefit for first time home buyers. You can take out up to $10,000 out of your IRA or Roth IRA for a first time home purchase. Your Roth IRA account must be at least 5 years old in order for you to do this. Distributions from this account are tax-free, but youíll need to pay tax if you withdraw form a traditional IRA. You should discuss any withdrawals that you do make with your financial advisor and your tax advisor. This could be an opportunity for you to build your wealth in a new way, so make an informed decision. 


Happy saving and happy house hunting!





Posted by Kimberley Martin on 9/2/2018

When you have a small yard, you may feel like thereís not much you can do with your landscaping scheme. The good news is that there is plenty that you can do to perk up your yard and give it some character. Read on for tips for your small yard. 


A Yard With A View


First, you should create a focal point in your yard. You want a place that your eyes are drawn to each time you enter your yard. This focal point could be a fountain, a pergola, a tree, or even some outdoor artwork.


Create An Intimate Spot


Even though your backyard might be small, having a spot for intimate conversation and entertaining can be a nice touch to your yard. When there is a space that exists for reading, relaxing, eating, or whatever you like to do outside, it becomes more inviting. This is landscaping with a purpose.   



Use Color To Your Advantage


Make bold colors pop in your yard. Attention will be detracted from the size of your yard and the focus will switch to the beautiful blends and colors that are in the space. Placing bright colors strategically will even make your yard appear larger. 



Trick Imagery


By creating a focal point and allowing your yard to form in long, clean lines, the perspective of the outdoor space will change from small to just right. One trick is to use fences to define your yard. If you have a garden, you can use a small fence to define this area. Define the boundaries of your backyard with a fence as well. Repeating rows of flowers or bushes is another way to create those straight, defining lines. 


Use Vertical Features


When space is limited, just as you would in the inside of your house, donít be afraid to go up! You can plant things that grow on a vine and can be tamed with a trellis or pergola. This creates and elegant effect in your home. 


No Lawn No Problem


If your yard is small enough that you may not even have much grass, donít fret. Any kind of greenery can help you to enjoy nature. Whether you live in a rural area or a large cityscape, thereís always room for plant life and green natural accents.      


Donít Forget To Add What You Love


If you have an admiration for sitting by the fire, you certainly should install a fire pit. If you want a fountain, you should install it. No matter what the size of your yard, itís a place that you love and should serve you and your needs. No yard is too small for enjoyment. The key is that your outdoor space allows you to bask in the glory of your own little piece of natural heaven.    


 





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Posted by Kimberley Martin on 8/26/2018

Many hopeful homebuyers seek to save money by buying a fixer-upper and doing most of the renovations themselves. This is a proven method for those who have a knack for home improvement and arenít afraid to get their hands dirty.

However, estimating the cost of a remodel can be difficult. There are many costs you may not be aware of, and others that are easy to go over budget on.

In this article, weíre going to talk about the cost of an average remodel, and some lesser-known costs that you might be forgetting to factor into your budget.

Average remodeling costs

As you might guess, the cost of a remodel can vary greatly. Things like the size of the home, the number of rooms youíre remodeling, and the type of repairs youíll be making all factor into the equation.

Some repairs can be quite costly. Septic system replacements can cost several thousands of dollars depending on the type of system you need. And, if youíre buying an old home, youíll need to look out for expensive fixes like asbestos removal and foundation damage.

According to one report, most Americans spent between $17,000 and $61,000 on their remodel, with the average renovation cost being around $37,000.

If youíre hiring a contractor for the bulk of your remodel, expect them to charge between 10% and 15% of the total cost.

Lesser known costs of a home renovation

Remodeling a home isnít as simple as looking up a contractor and telling them to give you the bill once itís finished, and thatís probably a good thing because odds are you would be shocked by the cost.

First, youíll pay a contractor to do a walkthrough and estimate costs. Next, youíll need to get any permits that are required for your renovations.

If you plan on doing the renovations yourself, there are a few costs youíll need to consider. First, understand that you likely wonít be able to take advantage of all of the discounts that contractors can, meaning your building materials may be more expensive than expected. Similarly, the cost of tools for the project adds up quickly. And, when you make mistakes--we all do, weíre only human--youíll be paying for it out of pocket.

Knowing your long term goals

An important consideration for a remodel is to look toward the future. Do you want to sell your home within the next few years? If so, you might consider going with less expensive materials--such as generic kitchen cabinets rather than custom-built--to save money while still increasing the value of the home.

However, if you plan on being in this home for decades or more, it may be worth the extra money now to make sure you are happy with your home for years to come.

Remodeling a home can be a memorable and rewarding endeavor. You get the chance to take a house that you see potential in and make it truly your own. Now that you know the costs, youíll be better prepared for planning your home renovation.




Tags: Remodel   renovations   budget  
Categories: Uncategorized  


Posted by Kimberley Martin on 8/19/2018

Before you list your house, you'll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.

Now, let's take a look at three best practices for pricing your home.

1. Evaluate the Real Estate Market

The current real estate market's conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer's and seller's market and plan accordingly.

In a buyer's market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.

On the other hand, a seller's market favors home sellers over homebuyers. If you're operating in a seller's market, you may be better equipped than ever before to earn a significant profit.

To differentiate between a buyer's and seller's market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.

2. Conduct a Home Appraisal

Ultimately, a home appraisal can make a world of difference for any home seller, at any time.

During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.

A home appraisal involves an evaluation of the current condition of your home, your house's age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.

3. Collaborate with a Real Estate Agent

When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.

A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.

In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.

Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.







Kimberley Martin
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