Home Inspections Can Teach You About the Components of a Home

From Catherine Mitchell, The Intentional Realtor®™

Before you buy a home, it’s important that you have it inspected by a certified home inspector.  A home inspector who knows what they're doing will check more thoroughly in areas that you may have overlooked during your walkthrough. 

Home inspections

A home inspection is designed to inform you of the condition of the property, life expectancy of its major components, along with the maintenance and repairs that may be needed (or can be expected) now or later. 

Four main components

Home inspectors will thoroughly inspect the four main components of the home: the roof, electric, plumbing, and heating/air conditioning.  A home inspection will also include the grounds, the foundation, the attic, walls, floors, doors, windows, and the exterior structure of the home.  

The benefits 

A home inspector will document any potential defects of the home with well-crafted notes and photographs of the condition of the property that you’re thinking about buying.  

Read more on our website: http://catherinemitchellrealty.com/blog/ 

Connect with Catherine:

As The Intentional Realtor, my goal is to help you achieve the reality of home ownership. I’ll do my best to make sure that you receive the best representation possible when it comes to buying a home and that you receive a quality home inspection from certified home inspector for what could be your future home, which is why securing a good Realtor is in your best interest to help you find the home of your dreams. 

For this and more real estate needs by the The Intentional Realtor, connect with me, Catherine Mitchell, at (704) 898-0605 http://www.catherinemitchellrealty.com/ 
 

Homebuyer Tip: Spending Your First Night In Your New Home

Homebuyer Tips

From Catherine Mitchell, The Intentional Realtor®™,

There is nothing like the feeling of spending your first night in your first home

The lifelong dream for many Americans is the dream of homeownership.  Not just any home, but preferably their dream home.  When that dream becomes reality, it can be an exhilarating feeling of accomplishment.  One that is celebrated with the thrill of spending the first night in their very first home. 

Your first home

Imagine the feeling of turning the key and opening the door to your very own home for the very first time.  The nervous energy from the thought of knowing that this property with all its intricate beauty is yours to decorate however you please.  The thought of cooking in your very own kitchen or the thought of sleeping in your very own master bedroom with the peace of mind of knowing that you are no longer paying rent, but instead building equity.  The feeling of “I made it, life is good.”  That’s the feeling that millions of Americans have experienced thought out the years.  It’s that feeling of homeownership, that feeling of pride.

Your first night 

All though the thought of owning your own home is virtually every American’s dream, that first night in your home has the possibility of being filled with chaos and confusion.  After a day of moving in, it’s very unlikely that you’ll get everything unpacked in a single day.  You’ll probably be so exhausted from the move that for the first couple of nights your belongings may still be in boxes.  You may want to think about eating out or ordering a pizza on your first night because your kitchen may not be fully set up to your liking, or you’re just too tired from the move to cook.  Then there’s the reality that your bed may not be set up, so you may have to improvise when it comes to your sleeping arrangements like sleeping on mattress as it lies on the floor or maybe even sleeping in a sleeping bag as if you’re having a sleepover.  Yes moving in your own home for the very first time can be filled with excitement and joy, but it can also be chaotic and exhausting. 

Homeowner

As you try and sleep in your home on that very first night, the thought of “I’m a homeowner” will eventually sink in.  You may lay there for a while, and you may think about what it took for you to get to this moment.  You may think about your old apartment or better yet your favorite apartment.  Then you may think about the steps that it took for you to get your credit up to par or better yet to maintain your credit.  Finally you may think about the job that affords you the opportunity to live in a place that you can now call home, as the phrase, “I’m a homeowner” finally sinks in with pride. 

Connect with Catherine:

As the The Intentional Realtor®™, my goal is to help you achieve the reality of homeownership.  I’ll do my best to make sure that you receive the best representation possible when it comes to buying a home and that your experience of homeownership is joyous one, which is why securing a good Realtor® is in your best interest to help you find the home of your dreams.   

For this and more real estate needs by the The Intentional Realtor®™, connect with me, Catherine Mitchell, at (704) 898-0605 http://www.catherinemitchellrealty.com/ 

#connectwithcatherine 

HomeBuyer Tips: Appraisals

Homebuyer Tips

From Catherine Mitchell, The Intentional Realtor®™,

Appraisals give an objective view of the home’s value in the marketplace

Having an appraisal is an important part of the home buying process.  It brings tremendous leverage when it comes to price negotiations.  A real estate appraisal establishes a property’s market value which is the likely sales price it would bring if offered in competitive real estate market. 

Appraisals

Appraisals are detailed reports based on an appraiser’s on site evaluation of a property as well an evaluation of sales data.  Appraisals include details about the property along with side by side comparisons of similar properties.  It also includes an evaluation of the real estate market in the area, statements about issues the appraiser feels are harmful to the property’s value, notes about flawed characteristics pertaining to the property, an estimate of the average sales time for the property, and the type of area in which the home is located.

Two types of appraisals

A Sales Comparison Approach and a Cost Approach are two common appraisal methods.  A Sales Comparison Approach is an estimate of the property’s market value by comparing it to similar properties that have recently been sold in the area.  The Cost Approach is most useful for new properties where the cost to build the property is known.  With the Cost Approach the appraiser estimates how much it would cost to replace the property if it were destroyed.

The lender

A homebuyer’s initial mortgage approval is accomplished early on, but final approval of the loan depends on a satisfactory appraisal.  An appraisal is the only evaluation report a lender considers when deciding whether to lend money.  Lenders study appraisals very carefully before determining whether a property qualifies as a security for a loan.  An appraisal provides the lender with assurance that the property will sell for at least the amount of money that it is lending.   If the property’s appraisals is lower than the sales price the loan may not be approved.  The lender wants to be sure that its investment is covered in case the buyer should happen to default on the loan.  In some cases the buyer pays for the appraisal fee at the time of the loan in other cases the fee is added to the settlement and paid at the closing. 

Connect with Catherine:

As the The Intentional Realtor®™, my goal is to help you achieve the reality of homeownership.  I’ll do my best to make sure that you receive the best representation possible when it comes to buying a home and that you receive an appraisal well worth the fair market value, which is why securing a good Realtor® is in your best interest to help you find the home of your dreams.   

For this and more real estate needs by the The Intentional Realtor®™, connect with me, Catherine Mitchell, at (704) 898-0605 http://www.catherinemitchellrealty.com/ 

#connectwithcatherine