Focus on Homebuying

Kevin Shirley, Associate Broker (DC), GRI, e-PRO, ASP

How to Select the Right Neighborhood for You and Your Family

As a potential home buyer, you want to make sure that you are not only getting the best value for your money. You also want to ensure that you will be satisfied with your location as a new community resident. 

When you decide to purchase a home, you have to determine where you want to live. Several factors may play into your decision, including both practical and emotional reasons. Selecting the right neighborhood for you and your family should be done with care. Here are tips to help to pick the right neighborhood for your next home.

As you explore various locations to buy a home, you may have many ideas in mind. Maybe you want to pick your dream location for your home. You may actually prefer to find a safe neighborhood with great schools and a decent commute time to work. Whatever your reasons for deciding on a particular location, you must sort out your priorities as you search for a neighborhood to live in.

As you ponder your situation, ask yourself these questions:

• Do you have teens or young children living in your home?
• Do you have preferences as to the noise level of the area?
• Do you want a lot of land or parks and other green spaces to enjoy?
• Are you concerned about having a short commute to work?
• Will the neighborhood have your preferred amenities (shopping, daycare, groceries, dining, etc.)?
• What style of home do you want?
• What is your budget?

As you write down the answers to these questions, a clearer picture will emerge of your must-have elements for your new neighborhood. Some of the items may end up on your list only as features you would like to have but are not deal-breakers. 

Families

If you have teens or young children living at home, a primary concern when selecting the right neighborhood for your family should be the local school system’s quality. If you plan to enroll your children in a private institution, you must also consider the distance between the new neighborhood and the school to shuttle back and forth between after-school activities and other events. 

Make sure that you research local public and private schools. You should also research daycare programs in the area. Crime statistics are also essential to look at for the safety of your family. The majority of real estate websites will be able to break down crime statistics by zip code to give you an idea as to how safe the area is compared to national statistics. If you would like more in-depth details on a particular area, you can ask your REALTOR for assistance.

Setting

As you select a neighborhood for your home, you should envision what it would be like to live in that neighborhood. You may wish to choose a neighborhood based on the style of homes offered. You should also consider whether you prefer an urban or more rural setting for your home. The proximity of the neighborhood to a metropolitan area may significantly impact the average square footage of a home. Also, some areas may have mostly single-family homes available compared to other neighborhoods that may have a larger percentage of multi-family homes.

You must also consider whether or not you want to live in a historic neighborhood or housing development. Both types of communities often come along with regulations put in place by local community associations that must be adhered to. This may also mean that you are required to do repair work on your home, as homes in historic neighborhoods may be of older stock.

Daily Routine

As you select your new neighborhood, you also want to think about your daily routine. Do you want to be able to walk places? Do you want a short commute to work? Ask your real estate agent about the public transportation options that will be available in your neighborhood, as well as access to major roads and highways.

“Diversity, population, and neighborhood characteristics are all important aspects that make a big difference on a neighborhood,” says AJ Smith of Credit.com. “Investigate how the neighborhood has grown in recent years, who lives there, and how many people do determine if it is somewhere, you would fit in or stand out.”

By talking to people that have lived in the area, you can get a more accurate idea of what it will be like to live there as a resident. This is a vital insight that can not be obtained simply by looking at neighborhood descriptions online. You can also use these experiences to determine if the neighborhood meets your expectations in terms of taste. Some home buyers may require more luxurious accommodations to be satisfied. Others may find the restrictions of planned communities not to be their preferences.

Budget

Budget will likely play a huge role in determining your final decision in the right neighborhood for your new home. However, working with a real estate agent can help illuminate the differences between two relativity neighborhoods of equal value. There is always a risk that you won’t get everything on your wishlist when you select a community. But when it comes to making sure that you stay within your budget, compromise is essential. 

Opt for the neighborhood features that will guarantee a safe and enjoyable stay in your community while skipping out on those neighborhoods that are so pricy you will spend more time worrying about your finances than enjoying your new lifestyle. Plus, as you get to know the neighborhood, you may find that there are hidden amenities that you may not have been aware of.

Buying a property in the right neighborhood is a process that must be done with care. Talk with your real estate for more tips on selecting the right community so that you can be happy with your decision.

Seven Things First-Time Historic Home Buyers Need To Know 

Historic homes are full of mystery and culture – owning one can be a great way to connect with both the past and the future of your community.

Older homes are both charming and intriguing – be sure to know the particular responsibilities that come with owning a historic home before you sign the mortgage papers, so you don’t end up with more than you bargained for.

Perhaps it started when you walked home from school. You would always slow down your pace as you passed the older Victorian home with its gabled roof and inviting wrap-around porch. Or maybe you were always fascinated by stories of days gone by, and now take day-trips to historic sites near your town. Whatever brought you to this point, it was a powerful force in your life, and your heart is now set on buying your own historic home.

Even if this is not your first home purchase, historic homes can have their own specific challenges for first-time historic home buyers. If you know what to expect in advance, your home-buying process will be smoother and more satisfying. 

Is It Registered?

As a rule, a “historic home” must meet three criteria:

1. It must be of a certain age, generally, 50 years or older.
2. It must be in close to original condition, with defining architectural features still intact.
3. It must have historical architectural significance or be associated with a significant historical event.

Many owners of established historic homes have it registered with The National Register of Historic Places. If the property you are interested in is not registered, do some research and make sure it meets all three criteria. 

Find a Home Inspector Who Specializes in Historic Homes.

Once you find your home, you must get a qualified home inspector. Older homes are much more complicated to inspect, and it takes a special kind of expertise. Many home inspectors who specialize in historic homes are members of the Historic Building Inspectors Association. This association demands that all member inspectors be well qualified to evaluate and report structural and mechanical aspects in historic buildings. Their members understand landmark preservation standards and practices; you can read more about this group and find a registered home inspector at http://www.inspectistoric.org.

Find Out about the Electrical System

Older homes can be a real joy, except when they require costly updates. One area that many older homes need updating in is in their electrical system. It should not be totally unexpected if the home inspector tells you that all the old wiring needs to be replaced. Sometimes the fuse box is not large enough to accommodate all of your modern necessities, such as computers and televisions. To correct these problems, you will need to hire a licensed electrician who understands and can integrate older and newer electric systems. Of course, he also must be an expert on your town’s local electrical codes. At the time of purchase, known electrical deficiencies can be incorporated into your price negotiations.

Be Prepared to Love It or Leave It

Many local historic home associations place strict restrictions on what kind of upgrades can be done on their registered homes. Generally, repairs can be made to the home’s elements, but structures cannot be added to or replaced. So, adding a back porch or additional square footage most likely will not be allowed. If items like windows or roofs need repair, you will need to replace them with similar building materials – this can be both time consuming and costly, so make sure you go in with your eyes wide open as to the responsibilities that will be on your shoulders once you purchase the home.

Get Price Estimates on Contracting Work

Most likely, if the home has not had a new owner in some time, there will be upgrades you will initially need to put into motion to meet specific building codes. Or, there may be other updates you will want to make immediately, such as fixing a leak in a slate roof (a fairly common issue in older houses). Get price estimates from contractors experienced with historic homes and make sure you know these costs before you make your offer or end your attorney review period. Going back to the example given previously, a slate roof on a historic home is much more costly to repair than fixing an asphalt shingle roof on a modern home. Avoid surprises by doing your homework.

For A Moment, Think about Reselling

Wait a minute … you’re in home buying mode. Why this talk about reselling? The fact is: historic homes may be more challenging to sell. Unless you live in an area that people flock to because of the historic homes, you may find that your home is less in demand. This can mean that it may take you longer to sell the house or that you could risk a price reduction if you need to sell in a hurry. Home resale value is always something you should give some thought to when purchasing. Generally, a home is one of the largest purchases an individual or couple will ever make, and it is vital to consider all aspects of your home purchase. Historic homes are incredible to own, but each one is truly a labor of love. 

And Now for Some Great News

If you qualify, your state and/or local governments – as well as the federal government – may offer tax incentives to help you preserve or restore your historic home. These incentives may take the form of tax credits or lower interest loans and are certainly worthwhile for you to check out.

Now that you are aware of some of the things to look for when purchasing an old home, it is time to go ahead with the fun part! Viewing a historic home as a potential buyer is a great experience; it’s almost like studying a piece of history and local culture and deciding if you want to be part of its future – a tremendous opportunity for anyone with a passion for history or love for old homes.

9 Things to Look for When Touring a Home

Don’t get overwhelmed right out of the gate when starting your home search; peruse your options with confidence, knowing you are comparing apples to apples as much as possible.

House hunting can be exhausting, frustrating, and downright stressful if you don’t know what you’re looking for before you start. Instead of going directly to a house tour, prepare yourself with a list of things you must have, then only look at homes that meet all your criteria.

Are you in the market for a new house? These 9 items top the list of things to consider whenever you tour a home:

Location

Keep in mind all the places you need to go, and how far away they are from this current house location. Calculate the distance to your work, schools, grocery stores, and favorite nightlife spots. Wherever you frequent the most, such as your job commute or gym, should be your top location priority. Also, see how close you are to gas stations and freeways. These aren’t always considered, and it can be a pain to have to drive a long distance just to get to the airport or fuel up.

View

If this is important to you, stop a few minutes at each window in the home you’re touring to check out the view. Take note of the direction the windows face to see if you’ll get that brilliant sunrise or sunset every day. Also, check out how close you are to your neighbors and see if they can quickly look into a room. 

Neighborhood

Before you step into a potential home to tour, drive around the neighborhood a little. Take a look at how people landscape their yard if they have kids playing in the street and if a block ends on a busy intersection. This is especially important if you have young kids that will be playing a lot outside. Your neighborhood also plays a massive role in your home’s overall value. According to Andrew Schiller of Neighborhoodscout.com, “There are a few telltale signs of areas with long-term opportunities for jobs:

• Low unemployment.
• High household income.
• Seats of federal or state government.
• Creative industries (music, television, design, publishing, or advertising).
• Research facilities.
• Large or prominent colleges and universities.”

Be sure to evaluate these and more when selecting a neighborhood, to ensure that your investment is as protected as possible in the coming years.

Safe Driveway

This might seem like a small detail, but a poorly designed driveway can cause some serious stress. Make sure all your family cars can comfortably drive on it to easily access the garage. Some homes have a pillar dividing two or more spots, rendering some larger vehicles unable to maneuver inside. Also, make sure you don’t have anything blocking your line of sight when you back out, such as tall shrubs or blind corners. 

Size and Floor Plan

Pick up a floor plan while you tour a home, and revisit it and keep the house’s layout fresh in your memory. Imagine yourself walking between each room, and note any troublesome areas. Consider each room’s overall space and know that a larger space will require you to run your heater longer and add more furniture, but it will be perfect for a larger family. Measure your current furniture to get an idea of where you would put things like couches, beds, dressers, and other bulky items. Some furniture might not fit, so make sure you factor these purchases into your budget. 

Room Count: Beds and Baths

Consider your family’s needs and if you will eventually need an extra bathroom or bedroom after a few years. Smaller homes can actually benefit a bigger family since they will be easier to clean, plus they transition well once all the kids have moved out. Consider what you currently have now, and ask yourself if this amount of rooms truly meets your needs.

Ideal Kitchen Layout

Do you enjoy cooking? You’ll want to make sure your kitchen flows well and that all the appliances you need are easy to access. When you’re touring the kitchen, walk through a typical dinner preparation, from cutting board counter height to oven door clearance space; it should all be tested. Ask your realtor what appliances will stay in the kitchen so you can budget for the missing ones, such as a fridge. 

Is this your first home? If so, you may not yet know what kitchen layout and style you want. Luckily, the pros at HGTV have spent countless hours reviewing kitchens, and their baseline advice is: ‘Learn how a kitchen’s shape affects its functionality.” Wait – does this mean that some layouts might not be conducive to fantastic cooking and entertaining? Absolutely. HGTV recommends one of these top 5 kitchen layouts:

• The essential work triangle
• Specific work zone designation
• Galley setup
• L-shaped layout
• U-shaped layout

Ask your realtor to show you homes with varying layouts so you can experience how each one might work for your unique cooking needs.

Storage

Open every single closet while you tour. Take detailed notes of each storage space on your floor plan of the home, then see if it will work for your needs. When people move, usually they like to de-clutter, but there will still be some items you’ll need to store in your new home. Bring a tape measure with you so you can get exact measurements.

Windows and Finishes

Having natural lighting in each room will cut down on your energy bill drastically. See where each window is placed throughout the home to get an idea of how much sunlight you’ll be getting. Ask your realtor how old the windows are and if they might need to be replaced. Also, notice the finishes in each room, such as the hardware style, molding, and focal points – like a fireplace. These can be changed out or disguised, but it’s best to find a place that already meets your expectations. Bring a camera or use the one on your smartphone to snap some photos of the details that drew you in, then file them with each house’s paperwork for future reference. 

It might sound like a lot of prep work to do before touring a home, as well as a lot to think about during the showing, but this will ultimately make your final decision much more straightforward. You don’t want to miss out on a charming home if you can’t make up your mind, so make it easy on yourself by sufficiently preparing ahead of time, and you’ll be guaranteed to find a perfect home that meets all your needs.