HDFC Coops – The Best Deal in New York City Real Estate?

HDFC Coops – The Best Deal in New York City Real Estate

Have you been frustrated with the high prices for apartments in New York City?  Well here’s the good news:  If you have ever wanted to live in New York City at an affordable price, well, look no further.  If you qualify, you may have just found the greatest deal in New York City. 

HDFC Coops, a little know niche market in New York Real Estate, represent the „last great deals“ in New York City.  Frequently these cooperative apartments sell for 40%-60% below there comparable regular Coop or Condos for sale.  HDFC’s (which stands for Housing Development  & Finance Corporation) have been around for many years but it is not until the last few years that more and more people are discovering these amazing deals.  They are only available in New York City although there may be other programs in other cities that are similar.

The History of HDFC’s

HDFC coops are city sponsored coop apartments that offer many of the benefits of a regular coop apartment but they also have some restrictions on purchase and they frequently have a „flip tax“ upon sale. 

An HDFC coop came to be for one of a couple possible reasons.  They may have been originally a rental building which had been abandoned by an owner or the owner may have owed back taxes or water and therefore lost the building to the city. 

The City then rehabilitated the building, trained the tenants on ownership, set the Coop up financially to be self-sustaining, and then sold the apartments to the existing tenants for $250 each.  Yes, that’s right, $250!

The premise is that rather then the City being a landlord, you have now trained a group of owners who care about their building and their future.  It has been a very successful system. 

Typically over the years these HDFC coops changed hands among friends or relatives for very cheap prices.  In the past several years, some brokers with foresight have realized the value these Coops represent, and upon being marketed more professionally, much higher prices have been realized for the Owners. 

Benefits

This has benefited both the buyer and seller of an HDFC apartment.  A seller now has realized much more money than they ever thought possible and they have a chance to realize their dreams.  Many sellers of HDFC coops have gone on to move to the suburbs and buy a house or take a dream vacation, buy a nicer car, and live a nicer lifestyle.  Remember, the original owners of HDFC coops were there because they typically lived in a run-down neglected building so to get $150,000-as much as $500,000 for one of these apartments which they paid only $250 for is a huge windfall.

The buyer is getting a chance to own a piece of New York City, one of the most expensive real estate markets in the world, for a fraction of the price of regular Coops or Condos.  Very often, HDFC coops sell for $400-$600 per square foot where as coops and condos in New York can sell for $900-$3000 per square foot.  This is clearly a huge difference. 

Don’t think these HDFC’s are in bad neighborhood’s either because many of these are in prime New York City neighborhood’s such as the Upper East Side, Upper West Side, Lower East Side, and Williamsburg, Brooklyn.

Downside

Does it sound too good to be true?  Well it isn’t too good to be true, but you must qualify to buy.  In many cases, to qualify to buy and HDFC coop, you need to make less than 120% of the areas Median Income.  In 2008, this number was $64,500 for 1 buyer and $73,725 for 2 buyers in a family and $82,950 for 3 buyers in a family.  Alternatively, some buildings, depending on the by-laws of the coop, have income restrictions to buy based on a multiple of the yearly maintenance and utility charges that the apartment has.  In either case, usually the management company and/or the Board of Directors of the coop will look at the adjusted gross income of your previous 2 years tax returns. 

In addition to an income restriction to buy, many HDFC Coop’s have a „flip tax“ when you sell.  Typically, this flip tax is calculated as a percentage of the profit that you make.  The profit is defined as the sale price minus the purchase price.  The flip tax could be as low as 5% and can range up to as much as 85% of your profit. 

Clearly you need to take these factors into account and depending on the flip tax the Coop has, the price and value of the apartment may vary greatly. 

Summary

We have seen that an HDFC coop represents a great opportunity to own a piece of the „greatest city in the world“ at a fraction of the price of other coops and condos but with that comes some restrictions on purchasing and upon selling you often have to give a portion of your profit back to the coop and/or the city.  

Tips when buying or selling an HDFC Coop

Find a broker who understands the rules and restrictions of HDFC Coops.  There are many intricacies to the process and if a buyer or seller is not qualified properly, you may find yourself wasting a lot of time just to find out you can’t buy or sell the apartment. 

Immobilienmakler Heidelberg

Makler Heidelberg



Source by David Leiter

Flat Fee MLS Listing, the Pros and Cons

  1. What is a flat fee Multiple Listing Service (MLS) listing?

The MLS is an all-inclusive database shared by local Realtors. Agents can access this database to search for exactly what their buyers are looking for. This one resource provides Realtors with a significant advantage over anyone who is selling on their own. In fact, over 90% of buyers find their new homes through the MLS.

Real estate companies that offer flat fee MLS listings will input the information and pictures to the MLS for a fee which varies from between $99 and $995 depending on the level of services provided. However, a fee is typically offered to an agent who brings in a buyer. This fee can be any amount by law but is typically 2% to 2 ½% versus the 6% to 9% charged for full service listings.

  1. What is the difference between flat fee listings and full service Realtor listings?

The owner undertakes duties usually provided by a Realtor. These include taking pictures, providing promotional copy, gathering information about the property, identifying repairs and improvements that will promote the sale and increase the return on investment, deciding on the best marketable price, monitoring the market, price adjustments if and when necessary, Arraigning showings, negotiating with buyers directly, obtain legal counsel, facilitating inspections, possible renegotiating and whatever else is necessary to bring the sale to closing.

  1. What services are typically provided by flat fee brokers?

    Besides adding your listing to the regional MLS, the listing is typically syndicated to dozens of portal websites like Zillow, Trulia, Homes.com, AOLrealestate.com, etc. plus local real estate companies directly. Owner provided pictures that are added to the MLS and portal sites. A sign &/or lock box is usually provided.

    Some companies provide free renewal or listings that do not expire. If available in the area, companies will often provide appointment center services which provide a convenient means of scheduling showings. With higher priced listing packages more services are added.

  2. What are the downsides of flat fee listings?

    Selling by owner is a lot of work. Over half of owners who were successful report that they would not try to sell on their own again. This is because besides the work involved it may not improve the return on investment. Realtors have years of hard won experience. If they can’t typically provide their clients with a better return on their investment than the owners can themselves they would not survive in the profession. Besides the logistics that can reasonably be handled by an owner, there is a good deal of judgment required. One misstep and the deal often falls through. Inexperience, even in new licensed real estate agents, can cost thousands of dollars or the entire sale. Most brokerages provide close supervision and training for their new agents for at least the first year. The owner does not have this essential advantage. Flat fee brokers who offer remote support cannot do so with the same expertise that a Realtor that has personal knowledge of the local market and property can. Finally, beware of invoking procuring cause claims.

In spite of the work and uncertainty involved many sellers do manage to sell on their own using flat fee broker resources to maximize their housing investment greatly.

  1. How to proceed.

Contact a reputable flat fee MLS broker who you can speak with directly to answer specific questions. This brief article can only provide an overview of the process.

While for sale by owner packages vary from broker to broker here are some important considerations:

  • Broker should be experienced and knowledgeable about local market conditions to provide ready guidance and counsel.
  • Broker should be local and able to provide market data and referrals for attorneys, contractors, inspectors, etc.
  • Broker should be readily available 12/7.
  • Broker should be a direct MLS member where property is located not a portal site that remotely lists properties through affiliates.
  • An exclusive website should be included that sends independent buyers directly to the owner to save co-broke commission.
  • Appointment center showing scheduling services should be provided at no additional cost.
  • Owner should retain right to sell on their own without paying addition commission.
  • Changes or pauses to listing should be provided at no additional cost.
  • Listing should not expire until home is sold or taken off market by owner.
  • Electronic lock box and sign should be provided and delivered at no additional cost.
  • All inquires should be directed to the owner.
  • Professional quality photographic services should be available.
  • Owner supplied photos and videos should be enhanced by broker to the standards typically found on the MLS.
  • Broker should also offer full service upgrades with flat fee credited to final commission.
  1. Steps to closing
  • Engage local flat fee broker
  • Provide details and pictures
  • Approve listing on MLS and submit fee
  • Arrange showing with appointment desk
  • Negotiate offers
  • Obtain legal counsel (recommended)
  • Fulfill contact obligations. This is done with the help of the co-broker and your attorney.
  • Close with more proceeds than if you had listing full service

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Dennis Maier

How STAGING Helps Homes Sell

Have you ever considered why two, somewhat similar houses, are listed on the market at the same time, for a similar price, and while one sells quickly, the other continues to be available? Once we’ve eliminated reasons such as the condition of the house and grounds/ property, real estate taxes, upgrades, etc, this disparity is often due to how potential buyers view, and perceive each property. Factors such as curb appeal, first impressions, etc, may be major factors and considerations, which explain what’s going on. After more than a decade as a Licensed Real Estate Salesperson, in the State of New York, I feel strongly, that there are times, when having a house professionally staged, may make all the difference! Let’s review some of the reasons, STAGING helps homes sell, and do so, with the aid of mnemonics.

1. Strengths; system; solutions: It is often quite challenging for a homeowner to be able to look at his house objectively, because of both the emotional attachment, and because he’s personally involved! While some homeowners might be capable, and some agents might also, it is often wise to seek the assistance, services and recommendations of a professional stager, to seek the best solutions, to better showing off the strengths of a house. These people usually have a tried – and – proven system, and I have witnessed fabulous results. An agent should make recommendations of stagers in the area, who have successfully staged similar properties, in your area.

2. Trends: Stagers know and understand what the present – day buyers might be seeking, and taking advantage of the trends. They will therefore, focus on paying particular focus, in those areas, of need.

3. Appearance; attention; appeal: How might the appearance of a house be enhanced/ improved? From curb appeal, to first impressions, it’s often wise to listen to a professional expert. They know what to pay the most attention to, as well as the best way to draw prospective buyers‘ attention, in a positive way. The goal of staging, obviously, is to improve the appeal!

4. Generate: Staging has the ability to generate a higher level of excitement, and interest in a particular property, because it will accentuate the positive!

5. Improve; interest: Don’t you want your home to be shown off, to its best possibilities? Listen to how stagers might improve the overall perception! The greater buyers‘ interest, the better the chance of selling a house!

6. Nuances; niche: Often, a stager may identify the specific niche, which this house should appeal to, and, thus be marketed at! They will use that, to place certain nuances into their overall staging plan.

7. Greater; good: Enhance the good points of a home, and reduce attention to the weaker aspects. Like a quality artist, a professional stager, knows how to make something greater, and more appealing!

Don’t behave in a penny – wise, pound – foolish, manner! There may be a cost to STAGING, but if it will get your home sold, quicker and at a better price, doesn’t it make sense?

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Richard Brody

Property For Sale in Cyprus

When an individual is looking at property for sale in Cyprus there are many factors that one will want to take into consideration when selecting the perfect home. It is important that you immediately employ a real estate agent to represent you. In Cyprus, real estate agents or brokers provide the services that are generally done by lawyers in other countries. They will negotiate and assist you with any loan and banking information as well as provide you with vital information regarding taxes and levies that are unique to the island of Cyprus.

Most of the homes in Cyprus overlook the sea, yet are within walking distance of town. The town in Cyprus are small and appear crowded to the outside observer, however this is because the roads and walkways have not been changed much from when they were originally built during Grecian times. The style of most of the homes has a Tuscan feel since most of the homes are built of materials which withstand the environmental conditions of the country.

The language used most in Cyprus is English and because of the extended British influence in the country the banking system is structured on that framework. You therefore will not have to get an interpreter to understand the loan documents that your bank presents you. In addition, the taxes and levies are clearly explained both by the bank and the broker prior to your commitment to purchase property for sale in Cyprus.

While the economy has drastically affected sales of property in other countries in the world, Cyprus has enjoyed a fairly steady growth of property sales over the last ten years. They experienced a small decline which has created a good opportunity for investors who are looking at property for sale in Cyprus, however it is still the ideal destination and residential haven for older citizens from all over the world. The relaxed atmosphere, friendly people, and consistently beautiful weather make this an ideal home to individuals who may have spent a lifetime in a country that did not offer year-round sunshine.

When viewing property for sale in Cyprus it is most important to find the home that will best meet your needs. The homes in Cyprus are built with a sense of tradition and therefore many offer the same floor plans and layout that one would see in an ancient home. Most of the homes being sold at this time contain all of the amenities that one would expect and are designed so that when windows are opened the sea breeze flows through the home easily.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Andreas Socratous

Do Not Let Your Emotions Deter Your Home Buying Decision

Did you know that 80% homes are bought on „emotion“? Seems a little scary to make one of the most important financial decisions of your life with „emotion“ as a factor. One of the best ways to substantially reduce this „emotion“ factor is to hire a real estate professional.

We tend to let our emotions take control when we walk into a beautiful home that seems to be perfect for the buyer and/or their family. It feels comfortable, is the right size, has the bedrooms or additional rooms we are looking for, and seems to be priced reasonably and so on.

If you have a family with children, schools are an important part of your buying decision. It is very important to follow through with the knowledge your real estate agent provides to you. Go visit the school where your child would be attending. Talk to the Principle, look at test scores and most importantly verify that the school boundaries are not changing anytime soon. School boundaries do change in an ongoing growing city or community.

Here are a few of the concerns you should also consider that could affect the current or future value of the home. These all play a role in location, location, and location. They might include:

1. Power Lines

2. Airport Noise

3. Privacy of the backyard

4. Major or Interior Road behind the property

5. Sun exposure of the property

There are many other things to consider that your real estate agent should bring to your attention. You should be provided with a pamphlet that will provide all other concerns you might have such as crime, pest infestation, mold, etc.

Of course not paying over market value is extremely important. The buyer is usually protected by the appraisal. If the home appraises for less than your offer then you are able to re-negotiate the contract with the seller or walk away. Be sure to review the comparable sales that your agent will provide to you. Be sure the recent sales are in the immediate neighborhood, not over 6 months old and are similar in square footage and bedrooms.

All of this information is a lot to take in and another reason why you should hire a real estate professional. Be sure the real estate is professional and exclusively represents YOU, the buyer and not the seller. Be sure they have years of experience in real estate. Look for realtors with designations such as ABR (Accredited Buyer Representative) or CRS (Certified Residential Specialist). This is a good sign they have that experience.

Buying a home should and can be a very enjoyable and stress-less experience. You should be emotional and excited but be thorough in your decision making.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Jeffrey Austin

What Is a Lien and Foreclosure?

A lien is a notice attached to your property which puts everyone on constructive notice that a creditor has a claim. A lien is typically a filed and recorded in the county public records (if involving real property) or with the secretary of state (if involving personal property). Why does a lien help a creditor? Well… in order to sell or refinance the property, the borrower’s lender is going to require clear title on the property as a prerequisite to the loan. Thus, a lien existing on your house has the negative effect of clouding the title and thus prevents you from selling your property. In order to clear title on the property, you must pay off the lien and have a release filed in the county public records putting everyone on notice of the discharge of indebtedness. If the lien is not paid off, certain lien holders can choose to foreclose on the property and recover what they owe.

The 7 Most Common Types of Liens

Property Tax Lien: When a homeowner fails to pay the taxes on his property then the city or county in which the property is located has the authority to place a lien on the property and force a sale if the taxes are not paid.

IRS Lien: An IRS lien is filed by the federal government for the failure to pay your taxes. If you happen to have equity in your property, the tax lien can be paid out of the sales proceeds at the time of closing. If the home is being sold for less than the lien amount, the taxpayer can request the IRS discharge the lien to allow for the completion of the sale. The taxpayer can also can ask that a federal tax lien be made secondary to the lending institution’s lien to allow for the refinancing or restructuring of a mortgage.

Mechanics‘ Lien: A mechanic’s lien is a statutory lien that secures payment for services and labor and materials related to improvements performed on real property. State statutes creating mechanics‘ liens vary by state. These statutes provide for the criteria and circumstances required for creating, filing and perfecting mechanics‘ liens. Mechanic’s liens are usually classified as super liens meaning they may be superior to all existing liens previously recorded against real property, including a mortgage lien intended to be a first priority lien.

HOA Lien: Homeowners that live in a covenanted community will often be required to pay a periodic fee to the HOA to cover maintaining the community. For example, the HOA will collect fees to pay for things like landscaping, security, or maintaining the common areas such as pools, tennis courts, workout rooms, and clubhouses. To determine the amount that each homeowner must pay, the HOA will typically develop a budget and divide the total expenses by the number of homes in the community. The homeowner must pay his share on a predetermined basis throughout the year. Additionally, the HOA may levy special assessments for one-time expenses if the HOA’s reserve funds are inadequate. For example, an HOA may levy a special assessment to pay for a new road that is damaged or to replace the guard gate. If the homeowner becomes delinquent in paying their monthly fees or special assessments, a lien will be filed by the HOA and automatically attach to the homeowner’s property. This lien cloud’s title on the property and can be foreclosed in order to satisfy the debt.

Judgment Lien: A judgment lien is a type of lien that is created upon recording when a lawsuit is won against you and then attached to your property in order to receive payment upon the sale of it.

Utility Lien: A lien filed upon a property by the city or utility service for failure to pay a utility bill such as water or electricity.

Divorce Lien: A lien filed upon the property as the result of a divorce decree.

Are all liens the same?

No! Liens vary in kind and in priority. Priority is critical to a lender, and the benefits to having a first priority lien such as a first lien mortgage on the property are very important. A lender holding a senior lien in the form of a mortgage on real estate is entitled to repayment of its debt from the proceeds of a mortgage foreclosure sale before the repayment of any junior lien holder. This is very important because a foreclosure extinguishes all interests in the collateral (aka the house) that are junior to that mortgage.

What is the foreclosure process?

The foreclosure process differs from state to state. In Florida (a judicial foreclosure state), the lender files a lawsuit by way of a complaint with the clerk of courts and serves along with a summons to the borrower. The lender will include any other junior lien holders in the complaint in order to foreclose out their inferior interests such as co-borrowers or unknown tenants that may have a leasehold interest in the home. Once the borrower receives the complaint, he has 20 days to file an answer. If not, the lender will file for a default judgment. However, if the borrower files an answer, then the lender will either file subsequent affidavits in supporting his position and refute any affirmative defenses in the borrower’s answer. If the lender was unable to obtain a default judgment, a lender will likely file a motion for summary judgment. A motion for summary judgment can end a case if the lender is able to show that „no genuine issue of material fact exists and that it is entitled to judgment as a matter of law.“ Most foreclosure cases end this way simply because the facts are not in dispute and entitlement to judgment is easily established as a matter of law. If the lender prevails at summary judgment or at trial if the judge failed to grant summary judgment, then the lender is granted a final judgment for a foreclosure. The judgment sets a sale date of the foreclosure (typically within 60-90 days). It is up to the lender to publish in a newspaper for two consecutive weeks prior to the sale the date and time of the foreclosure. Proof of that publication is needed to ensure all other parties received constructive notice of the sale. At the sale, the property is then sold to the highest bidder with the lender receiving a credit for his bid up to the final judgment amount. The borrower then has 10 days after the sale to file an objection to the court issuing a new certificate of title to the property in the name of the prevailing bidder. Upon recording of the new certificate of title by the clerk, the prior homeowner must vacate the property. If the homeowner does not vacate the property, the new owner may evict the old homeowner by filing a motion for writ of possession and sending the sheriff out the property to execute the writ. The sheriff will post the writ on the property giving the prior homeowner 24 hours‘ notice to move out. If the homeowner does not move out, the sheriff will physically make you vacate the premises.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by David DiNatale, Esq

How To Pick The Best Real Estate Pricing And Marketing Software

Real estate pricing and marketing can be a daunting task for both wholesalers, rehabbers, and agent. To know the right offer can be a haggle. To be able to sell your deal quickly can also be very challenging. And finally to get paid for your project much quicker… well you know how the story ends sometimes.

Real Estate Pricing And Marketing: Know Your Numbers

My goal has always being to find ways to make things much simpler and faster for folks so that people can concentrate on closing deals and making money. Couple of friends and clients I have come across still do really struggle with juggling numbers from deal to deal and numbers matters in every deal you are making. It doesn’t matter if you are selling, buying, rehabbing, renting, or wholesaling. You should know your numbers and get it right. Without which things will start falling apart and if it does, the center can no longer hold. The snowball effect ranges from you losing out on a good deal, or you may not be able to find the right margin as leverage. Or even you may lose out on a good rehab deal or wholesale contract. Hence know your numbers.

Finding The Right Real Estate Pricing And Marketing Software For Your Business

You don’t have to be a mathematician to find and know your numbers. There are thousands of apps and software out there that can help you with a certain degree of number crunching. But the question is:

  • How to do you know the real deal from the fake?
  • How do you choose the right software that meets your business need?
  • How do you understand the need of your business so that you can be able to match it with the right software?

All these questions will remain unsolved if you do not know what software suits your business. A single mix up may end up producing the wrong information which can destroy your business.

For example, a rehabber, wholesalers, brokers, agents and commercial real estate investors and developers may use the same or different software, These, in particular, may yield different results to different users depending on what the intended use is for. Some software is tailored to serve a combination of users while some are designed to serve only one type of market.

Another example is the rental sector in the real estate investing industry. Any software designed to target rental market will be super beneficial to every landlords, house or property owners who relied more on rental income instead of house flipping.

So there you have it. I hope the above break down helps you understand how to find the right software that suits your real estate business needs.

In my experience, I came across this free software that you can not only do your property valuation but also rehabilitation, analysis, and close deal much faster. The software can go further in helping you find buyers, or sellers near you and also find lenders and get funding for your project. You can easily create a killer and convincing presentation for your lenders and partners, create flyers and send out emails to your potential buyers and get them emailing or calling you in no time.

A colleague told me about this tool, actually it is free software and now I am sharing it with you. It is definitely the best thing that happens when analyzing incoming deals for lenders.

You can thank me later.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Richard U

Answer These 5 Questions To Procure The Best Real Estate Deal For You

Understand that you need a lot of knowledge if you want to emerge successful out of a deal with seasoned real estate professionals. If you can answer these 5 questions comprehensively, you can rest assured that will you have received the best end of the bargain.

Q 1) What Does The Real Estate Sector Point To?

This is one of the most important questions to help you with the pursuit of your buying/selling experience. More often than not, you will be dealing in a market that is more inclined towards being profitable to one of the parties, i.e., buyers or sellers, due to fluctuating demands in the real estate scenario. Do some research. Gather information. This will help you stay prepared and keep you well equipped to deal with this situation efficiently.

Q 2) Do You Have The Details About The Property?

When you are buying/selling a property, it is not enough to know just the dimensions and the general specifications of it. You need to know the premises inside and out, to be able to make the pitch convincing or devise a plan for necessary modifications depending on the side you are on. An advantage of having the details at your disposal, is that you can use them to bargain with your buyer/seller for the deal that you want.

Q 3) Who Has The Advantage?

This is where the deal can go both ways; in your favour or the other party’s favour. For instance, sellers that have 8 buyers lined up can sit back and watch as prospective buyers fight to get the deal they want. This is done while they make immense profits no matter to whom they sell the property to.

Q 4) Can You Negotiate?

Negotiating is a skill not everyone can master. The better you are at it, the worthier deals you get. Usually, buyers/sellers have their own brokers who can negotiate the better end of the deal for them and their clients. If you are pitted against them, there is a definite chance that you will get the negative side of the deal. Hence, it is recommended that you figure out what you want and stick to it.

Q 5) Have You Got The Capital?

Capital is the most necessary part of the deal closing process. If you are buying, you need to sort your finances out and find the money to make the buy. If you are looking for lenders, remember, they don’t offer you the loan before taking a peek at the property themselves.

Dealing with real estate transactions is a tough and tricky business, where you need to play your cards right. One false move can practically leave you with nothing. Make sure to be extra cautious when dealing with property investments.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Abishek Kumar

5 Tips for First-Time Home Buyers

If you are a first time home buyer, you may want to have the right strategies to save a down payment, apply for a mortgage, and buy a house that you desire. Just like any large project, you need to get the details right for a successful home buying experience. With these steps, you can navigate the process and get a great deal. Given below are some of the tips that can help you purchase the best home. Read on to find out more.

1. Start Saving as Early as Possible

Make sure you start saving as soon as possible. This way you will have plenty of money to spend on the best house. You need money for making a down payment and meeting closing costs and move-in expenses. Generally, the down payment is 10% of the full value of the property.

2. Decide on your Budget

Find out how much you can spend on the property prior to starting your search. You can use an affordability calculator in order to set a price range on the basis of a lot of factors, such as your credit rating, down payment, and income, just to name a few.

3. Work with a Real Estate Agent

Working with a reliable real estate agent can help you check out homes that can meet your needs. They can make it easier for you to negotiate with sellers and get the best deal possible. You may also want to get referrals from other home buyers. We suggest that you interview at least five agents and ask them for references. Make sure that the agent has at least 10 years of experience in the field.

4. Go for the Right type of House

You may want to compare the advantages and disadvantages of different types of properties based on your budget and lifestyle. Unlike a single-family home, a townhome or condominium can be a much better choice. Another great option that you may want to consider is a fixer-upper. They come with lower price tags. But you may want to set some money aside for remodeling these properties.

You may want to consider your long-term needs, especially if you are planning to expand your family. In other words, you may want to purchase a house that has additional rooms.

5. Stick to your Budget

You may not want to spend more than what you can afford. Therefore, it is not a good idea to spend more than what you can payback. This is important if you want to avoid financial stress in the future. It is better that you consider properties that are priced lower than your maximum budget.

Long story short, if you are a first-time home buyer, we suggest that you follow these steps and you will be able to buy your first home without getting into trouble. Just make sure you have set a budget and taken into consideration all the important pointers given in this article.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Shalini M

Tips to Help You Buy House Building Materials

If you are going to build a home or work on a remodeling project, make sure you consider the building materials first. This is important to keep in mind if you have never bought this type of stuff from the plumbing store before. It’s important that you go for the right building materials. Given below are the things that you may want to take into account when choosing these materials. Read on to find out more.

Purchase Costs: Purchase costs are not limited to the initial costs of products or materials. Make sure you consider the cost of installation. Plus, you need to find out how quickly you may need to get a product replaced. For instance, it’s better to buy products that are expensive but may last longer.

Operating Costs: Basically, these are energy costs that are paid on a monthly basis. This may include irrigation, cooling systems, heating and appliances, just to name a few.

Appliances and their Repair Costs: This includes simple stuff, such as HVAC air filters. Keep in mind that you need to be more careful when it comes to buying building material for your house exterior. The reason is that the exterior of your house will be exposed to all types of harsh elements.

How to buy Home Building Materials?

This decision depends upon your residence location and the stuff you want to purchase. We suggest that you choose a local store to buy your desired items. A great benefit of buying locally is that you can go to the store and check each item before you place your order. Given below are some important points of sale:

Box Stores: These are quite popular with most homeowners as they can be found everywhere. However, you have limited options to choose from as far as brands are concerned. Plus, they will have a variety of products for customers.

If possible, you can take a friend with you so you can finalize the items you want to buy. So, this is important to keep in mind.

Local Lumberyards: They don’t work with a lot of manufacturers but offer a whole host of products in order to meet the needs of builders. The good thing about them is that their experience and stock sizes are reliable.

Salvage Companies: These providers are a great choice if you want to reuse something, such as hardware, doors, and a fireplace mantel. Although there is a lot of hype regarding making stuff with pallets, this phenomenon is not new. Therefore, you may want to consider these companies as well.

Online Resources: This is a great choice if you want to buy small items and tools. Many manufacturers come up with fresh products, such as deck construction materials that are packed in squares unlike the eight-foot boards.

The Takeaway

Long story short, these are a few tips that can help you purchase house-building materials. Keeping these pointers in mind is a stroke of genius if you don’t want to end up making the wrong choice. Hope this helps.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Shalini M

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