Wednesday, March 16, 2022 / by Brian Armstrong
Buying your first or next home is a major step in life, and after you’ve closed on your new digs it may feel like you’ve finally won the race and can take a breather! While you may now be the proud owner of a new home, the process is not over quite yet. You still have a few more steps to go to get your home ready for living!
Put New Locks on Your Home
Changing the locks on your home may seem like an obvious step, but many new homeowners forget this stage. Since you do not know who has access to the house via the old locks, it is crucial to have your entrances re-keyed for safety and peace of mind. To exchange your locks, you can purchase DIY kits or call a locksmith to come out and replace your locks. For older homes, you may consider hiring a professional as the building standards for locks have changed, which can cause challenges during installation.
Hook Up All Utilities
When the homeowners leave the premises, they will shut off util; ...
Wednesday, February 23, 2022 / by Brian Armstrong
From Renting to Homeownership Are you considering buying a home and saying bon voyage to renting? Becoming a homeowner signifies a major shift in your life as this will be the first time you will be your landlord! Not only that, but owning a home allows you to build financial wealth for yourself where in the past you were building for someone else. As you weigh your decisions, it is important to do your homework so can be confident you are making the best decision for your future!
No Need to Rush
The first thing to know about purchasing a home is that it is not a quick process. Homebuying is one of the largest purchases we make in life, and doing your due diligence is an essential part of the decision-making process. You will have many choices to make along the way and don’t expect to just find a home the same way you have an apartment. From the location and of potential homes to mortgage lenders there is a lot to consider Homeownership is less flexible than renting, so you wil ...
Wednesday, January 26, 2022 / by Brian Armstrong
We are living in a unique era of real estate history in Vermont. Covid-19 has dominated the real estate market for two years, and it continues to impact the value and supply of homes across the state. If you tried to buy a home within the last two years, you know the forces you are up against. However, there are still opportunities, and many homes are still going under contract. Uncover the factors driving market challenges for buyers, and the likelihood of it letting up in 2022.
Mortgage rates were low in 2020 and have continued to fall even lower through 2021. Record low rates have driven more buyers into the market, even though it has remained strained with inventory shortages from 2020. The pandemic has created uncertainty, but the overall interest in homeownership steadily increased as other spending decreased across the economy. With that said, indicators show that interest rates may rise from these record lows in 2022, slowing the rush, and allowin; ...
Wednesday, December 8, 2021 / by Jordan LaFond
Rooftops blanketed with snow, lights strung, and the smell of winter is in the air. The holidays are among us, leaving homebuyers thinking about the age-old question; Should I wait to buy until the spring? In this article, I will share some need-to-know tips to help you buy a home during this season. As a local Vermont Realtor, I would like to share the top 3 reasons you should NOT wait until the spring to buy!
The Market Cycles
Every year, just like the outdoor temps, the real estate market begins to heat up in the spring, and we see a lot more inventory come to market. This pace typically lasts through the summer, and as we approach the end of the fall, the market slows down, and housing inventory starts to decrease. This cyclical trend is the biggest reason why buying NOW should be a strong consideration for anyone considering making a move. Most buyers follow the same market cycle and choose to wait until spring to buy- meaning if you also wait, competition for homes wi; ...
Wednesday, November 24, 2021 / by Jordan LaFond
As you think about making a home purchase, whether it is your first home or one of many, you need to consider what type of home you can afford. Most homebuyers choose to finance a portion of their purchase since many Americans do not have the cash to buy a home outright. From market dynamics to interest rates, many factors contribute to the type of home you can finance. So, what exactly is buying power? Buying power at its roots is the available money you have each month to put toward a mortgage after your other debts have been paid off (i.e. car loans, student loans, rent, etc.) Keep in mind that your buying power focuses on more than just the sale price; you also need to factor in taxes, insurance, repairs, and other expenses related to owning a home.
Determining Your Buyer Power
Determining what you can afford from a lending perspective is based on many considerations. Gross income, debt, assets, credit score, and interest rates are the key factors your lender will look ; ...