(856) 207-9944
    |

The Nick Borrero TeamThe Nick Borrero Team

Homes for sale in Rockwall, Homes for sale in Heath, Rockwall Realtors

  • Home
  • Search
  • Featured Listings
    • Buena Borough
    • Buena Vista
    • Millville
    • Newfield
    • Vineland
  • Sellers
    • Home Value
    • 8 Steps to Selling
    • Sell and Make a Profit
    • Staging Tips
  • Buyers
    • Get Approved for a Mortgage
    • 8 Steps to Buying
    • Home Buying Tips
    • Location, Location, Location
  • About
    • Blog
    • About Us
    • Mobile App
    • KW Careers
    • Client Reviews
  • Contact

Is Moving This Year a Good Call? Questions to Ask Yourself!

Is Moving This Year a Good Call? Questions to Ask Yourself!

 

Are you thinking of making a move this year? If you’re wondering about it, but not sure where to start or if it’s the right time, you are not alone. We all experience times when we’re not sure which option will be the best for us and our loved ones. But here’s a simple checklist to get started. These are questions to ask yourself to help you narrow down why you want to move and if you’re ready.

 

Question 1: What are you hoping to gain?

Start with this question: what is it I am hoping to gain with this move? Another way to word it is: what is missing from my current home situation? This will help you navigate what exactly your goal is with a move. Sometimes we have an urge for a change of scenery. There’s nothing wrong with that being the reason. However, moves can be huge stressors as well, so make sure that what you are going to gain is worth the work and stress of moving. Are you hoping to gain more space to spread out? Perhaps your job situation has shifted, and you want a designated home office. Or maybe you and your partner are wanting to grow your family. Or are you hoping to gain more outdoor space and quiet? Maybe then you are considering moving out of a city or suburb to a country location. Maybe you are hoping to gain greater sense of community by moving closer to friends or family. Knowing your “why” will help you stay on track.

Question 2: What are your priorities?

Once you know this why of moving and what large scale aspect(s) you are hoping to gain, begin to work on narrowing down your priorities. This can include a “non-negotiables” list as well as a secondary “wish” list. If you are moving to gain more space, “home office” or “yard” might go in your non-negotiables. But aspects like fireplace, chef’s kitchen, or jacuzzi tub in the master bath might fall on your wish list. And even with the larger aspects, you want to know before you start looking what your top priorities are. Because you might have to compromise even on these larger aspects. For example, you might have to choose between being super close to family or having a large yard if the area is more populated. Knowing the top aspects will help you navigate those decisions and compromises.

Question 3: What is your overall budget?

Thinking about budget may not be the most fun task but it is certainly one of the most vital. And staying within budget will directly affect your long-term financial goals and your stress levels moving forward. Take the time to sit and plan out your budget for a mortgage but also for the extra expenses associated with moving, such as closing costs, moving fees, and initial maintenance tasks. It’s also good practice to factor in long term financial goals when planning a move. This will prevent you from biting off more than you can feasibly chew. For example, maybe a long-term goal is retiring at a certain age or travelling more in the coming years. Factor in those extra retirement savings or that travel account so you don’t overspend on a mortgage, limiting those other goals.

 

Start with these questions to evaluate if now is a good time for a move. And when you’re ready to find your next home, I am here to help you find the perfect one!

 

Posted in: Buyer Tips, Seller Tips Tagged: buy a house, buying, moving, selling

Steps to Take Towards Purchasing a Home in 2022

Steps to Take Towards Purchasing a Home in 2022

New Year’s is a great time for reflection and setting new goals and intentions for the upcoming year. Even if you don’t subscribe to making resolutions, it can still be a nice marker of time and a chance to reorient and regroup around your goals. If one of those goals happens to be buying a home this year, here are a few steps to take now to ensure you’re ready!

 

1. Start (or keep) saving

Buying a house is an expensive process. Not only is there a down payment to consider but there are other costs associated with it. You’ll need funds for closing costs, moving expenses, and any initial projects you might want to tackle. You’ll also have to consider HOA fees, homeowner’s insurance, and property taxes. So, if you’re already saving, great! Keep it up. If not, start that now while you get your other ducks in a row.

 

2. Keep an open mind

While we all have our dreams in mind when house-hunting, stay open to other possibilities. Stay flexible in your location, amenities and must haves. The current market is still a seller’s market, meaning there’s lower inventory and higher prices. So, staying a bit more flexible and open with your must-haves will broaden your options and lead you to a great place sooner. If you only look at turnkey properties, you might miss great homes in your price range with more square footage or bigger outdoor spaces. Or if you are set in stone about a single family detached home, you might miss that townhouse in your dream location.

 

3. Be firm in your budget

Once you know how much your maximum budget is for purchasing a home, stick with it. It’s tempting to want to win at all costs, especially if there are multiple offers on the table. But if you throw in extra cash attempting to win the bid, you might end up with more mortgage than you can comfortably handle. One pro tip is to look only at houses slightly below your maximum price point. Let’s say you can feasibly afford a $300,000 home. Perhaps only look for homes $250,000-$275,000. This way you won’t be as tempted to go over budget if you need a little extra to throw in for leverage during a bidding war situation.

 

4. Stick with it

In today’s market and real estate climate, you might not land your dream home on the first try. But don’t get discouraged. That’s completely normal in a seller’s market. Stick with it and be persistent to achieve your goal. And with a reliable and experienced real estate professional beside you every step of the way, you’ll be successful in the end. They can help you navigate composing an offer, negotiating the details of a contract and closing the deal.

 

If you hope to make this the year you invest in real estate and start growing your equity, give me a call and let’s get started.

Posted in: Buyer Tips Tagged: buy a house, buying tips, real estate

Why NOT to Skip the Home Appraisal and Inspection When Buying in NJ

Why NOT to Skip the Home Appraisal and Inspection When Buying in NJ

 

It’s tempting to cut corners in order to stand out in a crowded housing market. As a buyer in New Jersey, you want your offer to win out. You may think offering to waive the home appraisal or home inspection is a good way to propel you to the top of the list. However, this could cost you more later on. While it may be annoying to keep these steps, here are a few reasons to stick with them.

Skipping the appraisal could cause an appraisal gap.

The appraisal is a tool lenders use to fairly evaluate the value of the home before they lend you the money to purchase it. Appraisals are done by third parties and are unbiased. They let the bank know what is fair. However, because of bidding wars, which can drive up the sale price of a home, the home could end up selling for more than it was appraised for. This is called the appraisal gap.

This could cause you to pay more out of pocket.

When this gap happens, often sellers will require you to pay the extra that the bank won’t spring for out of your pocket. This could be hard for you to come up with last minute on top of a down payment. If you do the appraisal and find out ahead of time, it’ll save you from that situation.

Skipping the home inspection could lead you to miss defects and problems.

The home inspection is an evaluation of the home for problems and defects that you might not have been aware of at a showing. An independent, unbiased, third party also does this inspection. This is an important step because oftentimes the sellers’ themselves may not be aware of glaring issues. So it’s not necessarily that sellers are keeping information from you. But rather perhaps they didn’t realize how old the roof is or that the HVAC system is faulty. These are big and expensive problems to fix. Without the inspection, you might not know that these issues or others are going to fall into your hands sooner rather than later.

This could take away some of your negotiating power.

When you do take the time to do the home inspection, it can give you negotiating power with the sellers. Perhaps there is a red flag and the roof or foundation is not in the best shape. This knowledge allows you to push the price down in negotiations so you can save the extra to go towards repairs.

This could also lead to you paying more out of pocket down the road.

It makes sense, then, that if you forgo the inspection and don’t know about any problems, you might pay more later. Not knowing doesn’t mean there aren’t any issues. It just means if you pay full price and then the roof starts leaking three months in, you might be strapped for the cash to repair it.

These are just a few reasons NOT to skip the appraisal and inspection. And as always, I’m only a phone call away for any questions you may have while buying. Let’s make your real estate dreams a reality.

Posted in: Buyer Tips Tagged: appraisal, buy a house, buying, inspection

Free Home Worth

Recent Posts

  • Innovative Strategies for Real Estate Marketing in the Digital Age
  • Sustainable and eco-friendly real estate practice
  • Generational Homebuying Trends: How Different Generations Approach Buying Homes
  • The impact of the pandemic on the real estate market
  • Understanding the local real estate market: Tips for staying informed

Recent Posts

  • Innovative Strategies for Real Estate Marketing in the Digital Age
  • Sustainable and eco-friendly real estate practice
  • Generational Homebuying Trends: How Different Generations Approach Buying Homes
  • The impact of the pandemic on the real estate market
  • Understanding the local real estate market: Tips for staying informed
  • 5 Tips to Profit from your Blog

Contact Us

The Nick Borrero Team
(856) 207-9944

1103 S Delsea Drive, Vineland, New Jersey 08360

KW Search App

Nick Borrero | Keller Williams Realty

1103 S Delsea Drive

Vineland, New Jersey 08360

Copyright © 2023 ·