Real Estate Information Archive

Financial Mistakes for First-Time Homebuyers to Avoid

Wednesday, September 29, 2021

by Tucker Robbins

Finding out just what is involved in the home-buying process can take some first-time homebuyers by surprise. It is not just a process of finding the right house, but the financial end can be overwhelming. Keep these tips in mind to help you avoid common errors a home buyer can make:

The all-important first step: before going to a lender, make sure your credit is in good standing.
Being pre-approved for a mortgage does not impress many sellers, so it is important to be pre-qualified. Talk to different lenders to line up the best deal for you and your budget.
Do not overestimate how much you can afford. Avoid properties on your initial search that are truly dream homes. The pre-approval process will offer a reality check because your approved mortgage amount is set.

Applying for a loan for a new car, credit cards, or even new furniture to go in your home can hurt your credit score during the mortgage process.
Sometimes buyers assume that all costs of buying a house are included in the loan amount, which is not the case. Closing costs, on average, are 2-5% of the purchase price of the home, and there is earnest money and a down payment to be made.
Do not let your finances deter you from buying a home! While the process may take more time, there are several programs ready to assist first-time home buyers. Many require less than 20% down. Other programs provide financing for those who live in rural areas, as well as those with credit issues or lower income. Go to realtor.comⓇ for a list of available programs.

You might also believe that it will cost out of pocket to have a RealtorⓇ represent you as a buyer’s agent. Not true! Their fee is paid from the purchase of the home on the seller’s end of the transaction. Your agent will guide you along this winding path but will do all they can to lead you to the house at the end!

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

Photo credit: Hunt Mortgage

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Six Quick-Fix Home Repairs

Wednesday, September 22, 2021

by Tucker Robbins

Pinching pennies is nothing new to homeowners, and when something goes wrong, thinking about a hefty service bill can turn many into DIYers! Almost every household has the tools and items needed for these quick and easy fixes:

Drywall holes can be intimidating, but there is no need for a drywall expert to come in for this job. Lowe’s shows us how to patch the hole and spend much less than the cost of a repair bill.
A squeaky wood floor can be charming or irritating, so if it is the latter, you can fix it with talcum powder as long as it is not due to a loose board. If it is not loose, sprinkle talcum powder over the seams, and rub it in with your fingers or a thin plastic card. Walk over the area to listen for the squeak, and apply more powder if necessary.
Is there a cabinet door that does not want to close completely? For a few dollars, you can purchase magnet catches and install them in no time. There can be issues with the hinges, too, and it may just need a simple adjustment.

The two most common toilet bowl leaks are a leaky flapper or a bad fill valve. For less than $20, you can replace either of them. To get started, check out this information from Today’s Homeowner to test for the correct leak, and go from there. The internet is chock full of videos and how-to articles for either fix.
When your clothes dryer drum stops turning, do not fret--the belt is easy and inexpensive to replace, thanks to this guide and video from Sears, and no appliance repair service needs to be called!
Doorknobs take a lot of abuse and eventually need replacing, or maybe you just want to upgrade your door hardware. Buildipedia offers this how-to video for this simple project--no locksmith required!

Taking pride in your home sometimes means hiring a pro to take care of things. On other occasions, however, a simple job can be taken care of on your own, so grab your toolbelt, and get to work! Your wallet will thank you!

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

Photo credit: dummies.com

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Taking Care of the House After a Loved One's Passing

Wednesday, September 15, 2021

by Tucker Robbins

As if the stress and grief after a relative passes away are not enough, there is sometimes the responsibility of the family to take care of personal belongings, investments, or, most often, the home. Emotions can be very raw and that can make it difficult to think practically when the time comes to take care of a home and its contents. These practical tips should help the process go smoothly:

As soon as possible, secure the house: check all doors and windows and be sure any valuables are safely stored away, preferably in a safe deposit box. Valuables now include anything that connects to the internet: smartphones, tablets, and computers.
Security is a must, and that could simply mean adding timers to lamps in different parts of the house to make the home look inhabited. Cancel newspaper and other regular deliveries, and have mail forwarded or check the mailbox daily. Make sure the neighbors are aware of the death and ask them to look out for the empty home.
Cleaning out the house may be difficult, and some want to start immediately after the funeral, while others may want to take their time. In the case of larger families, set a date to begin, and have a plan in place so it is easier on everyone.

Many families decide to have an in-house sale for items they will not be keeping. Set everything up in categories, and mark prices clearly; price them to sell! If there is any speculation of something being valuable, have it appraised before you make a sale.
If the house will need to be sold, contact Robbins Real Estate to help you get the house ready for the market. Updates may be necessary for the best price, so be prepared to make changes to the home.
On the other hand, some people have lived in the same house for fifty years, and never changed so much as the carpeting. If you decide to sell as-is, your agent will know how to set the asking price. While there are buyers who are specifically searching for a time capsule, they are not as common as those who want a turnkey house.

Many real estate agents have already served families in the same situation and can offer advice on many aspects of the sale, so ask questions when the time comes. This last chore can be a labor of love if you allow it, so honor your loved one with a smooth sale and closing of their estate.

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

Photo credit: LoveToKnow

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Choosing Your Home's Water Heater

Wednesday, September 8, 2021

by Tucker Robbins

Upgrading or replacing your home’s water heater is an expensive job, but a necessary one. With today’s technology, there are many options, and it can be a bit daunting when it comes to choosing the appliance that is right for you and your needs. Learn about different types and ways to save with this guide!

Most importantly, installing a water heater is not an easy DIY unless you are an electrician or plumber. Saving a few hundred dollars is not worth the peace of mind of a properly and safely installed water heater.
Traditional tank water heaters are the least expensive to purchase and have installed. When it comes to the real money saving--the energy costs associated with heating and maintaining the temperature--it is not the least expensive, as the radiant heat loss while being stored is great.

- The average family of four would need a storage capacity of forty gallons, adding ten gallons for each additional family member.

- Because of government-mandated regulations, this type of unit has become larger over the years, making replacement an issue.
- Storage-type water heaters have a lifespan of ten to fifteen years.

Tankless or on-demand heaters can be installed in smaller spaces, and this is important if you are upgrading to a larger unit and the available space is not sufficient.

- There are whole-house water heaters as well as smaller electric-only units that are installed under sinks for almost instant hot water whenever it is needed.
- Tankless heaters use, on average, twenty to thirty percent less energy than storage-type heaters, meaning the higher cost of the unit will pay for itself in energy cost savings.

- Some utility companies offer a rebate for qualified on-demand heater installation. Type in your ZIP code at the Energy Star website to see if there is a program in your area.

Solar water heaters will need a stand-by traditional unit in case the water is not heated to the set temperature. The expense of installation of a solar unit will pay for itself over time, and they have a life expectancy of about twenty years.
Heat pump water heating systems use less energy and are considered to be the best bang for your buck. There are space and temperature requirements, however, so choose this water heater wisely.

Another boost to installing an energy-efficient unit is a possible tax credit! Today’s newer units come with timers and smartphone apps so that you can control when your water is ready for use, which is another money saver. Research all of the available options so when your plumber installs your new water heater, you will have peace of mind that you have made the best decision for your home and family.

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

Photo credit: Sweet Home Advisor

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Have You Outgrown Your House?

Wednesday, September 1, 2021

by Tucker Robbins

Your house was no less than perfect when you first bought it, and now, after time and changes in your life, things seem to be getting tighter with every day that goes by! How do you know you have outgrown the space and need to think about upsizing? Here are a few tips to help you decide:

One indication that you are running out of space is clutter. Totes of stored seasonal clothing stacked in the bedroom corner, or maybe you no longer invite friends over because the clutter is embarrassing. It is either time to declutter or move!
Another sign to look for is furniture that is crammed into any available spot.
If it is hard to walk through the maze of pieces you have acquired over the years, they need to be displayed or set up properly so you can enjoy them.

Probably the most aggravating thing about living in a house that is too small is having to wait for a bathroom! Even a bath-and-a-half may not be enough. It may be time to find a house with two or more full bathrooms.
If you are one of the millions that are working from home now more than ever, your home office has probably taken over previously public space in the house. A house with square footage for a home office will allow everyone to get back in their own room!
In today’s world, it may be necessary for the grown and flown children to come back to the nest. Have you changed their bedroom into a craft room or knocked the wall out to enlarge another space? Other than putting the wall back up, find a new home with room for everyone.
On the other side of the coin, do your parents need to move in? That will mean giving up your own space so they can have some independence and privacy. Purchasing a larger home with an in-law suite would be a better solution.

Remember: getting more room for you and your family may not necessarily mean having to spending more money. Something as simple as changing neighborhoods or even surrounding cities can give more bang for your buck. Comb through your budget and schedule a time to talk to your Realtor® about looking for a larger but affordable new home!

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.

Photo credit: Irish Mirror

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