Date Archives: February 2021

A home renovation project can make your home more enjoyable and functional if you're planning to live in it awhile, and it can also increase the value of your home and make it more appealing to prospective buyers when you're planning to sell. Before starting your project, it's important to set a budget so you can keep a good handle on its costs. Without a budget, it's easy to let expenses rise along the way before eventually spiraling out of control.

Our real estate agents recommend following these 5 tips for setting your home renovation budget:

Click Here to Read More...

Staying organized has never been easy. And after a year when many of us have spent more time living and working at home than ever before, it's understandable if home organization has gotten a little lax. 

Our real estate agents understand the struggle. Luckily, we also have a few suggestions for getting your home organization back on track. We can't promise you won't have to do any actual cleaning, but we can say with confidence that these home organization apps will help!

Click Here to Read More...

Know that you want to buy a new home, but haven't found a property that meets your needs? Consider buying land and building your own home. When you purchase land, you control the size and location of your home's lot. Here are some things to keep in mind if you're buying land this year. 

1. It's Essential to Scout Out and Research Surrounding Land Plots
   Our real estate agents know that clients purchasing land may find plots in a variety of environments. The plots might be surrounded by land that has already been developed or is currently under construction. If so, you'll want to know if these plots will be used for residential homes or commercial businesses. Or, you may find the land plot surrounded by seemingly undeveloped land. Do your research to understand who owns the land. Are there any zoning restrictions? Are there farms nearby? Is there any history of criminal activity on the surrounding land plots? Check that you're comfortable with the neighboring land's current and potential usage. Investigate any restrictions that apply to your plot. It's not uncommon for local laws and ordinances to provide guidance on dwelling sizes or how many buildings may be placed on a piece of land. Don't assume that ordinances or restrictions can be appealed. Even if an ordinance is repealed, this is a lengthy process that may take years. 

2. Financing Looks Different
   It's harder to finance the purchase of land than it is to take out a mortgage. When you use a mortgage to buy a home, the home acts as collateral for the lender if you default on the loan, permitting the lender to offer attractive lending terms. With land loans, the terms aren't nearly as favorable. Undeveloped land isn't as in demand as land with a home, so it's riskier for the bank to finance. You'll pay a higher interest rate, and you'll likely only be able to borrow a portion of the value of the land. It's not uncommon for lenders to require a downpayment of 50 percent for a land loan. You'll need accessible liquid savings to cover the difference. Some affordable land loans are available through the USDA for individuals purchasing land in qualified rural areas. 

3. See What Utilities and Access Rights the Land Has
   A gorgeous plot of land is of little use if you can't access it. Confirm that the plot comes with access rights or an easement. Any easements concerning the land's access should be in writing. Depending on the location of the plot, you may need to add a private road to safely access your new residence. Make sure you consider this expense, as the cost of clearing and paving land quickly adds up. If the land isn't currently outfitted with utilities (like water, electricity, and internet), all of these items will need to be added. Check with your local utility companies that it's possible to run service to the land plot, and inquire about the cost. Some companies may run service to the land for free, while others will charge for their services. 

4. A Land Survey is a Necessity
   You should hire a land surveyor to determine the exact boundaries of the land. Not only will this give you a better understanding of the plot's limits, but you can confirm that neighbors aren't intentionally or accidentally using the land. 

Ready to start searching for land for your home? Contact us today to get started!

Each year, changes are made to the existing legislature that provides additional advantages to many men and women. Prospective homeowners will be pleased to know that in 2020, Congress passed a new bill which changes the benefits that the men and women enlisted in our armed forces receive in 2021. It's known as the Johnny Isakson and David P. Roe, M.D., Veterans Health Care, and Benefits Improvement Act of 2020.

Click Here to Read More...