The Daily Mortgage Advisor

Practical Mortgage Advice for Valued Clients

Browsing Posts in Home Buyer Tips

Post to Twitter

First Things First What To Do Upon Moving Into Your New HomeIf you have purchased a new home and are going to move in soon, what are the first few things that you will need to do upon moving into your new home?

Moving can be very stressful, but having a checklist can make your move effortless.

Here are 6 easy steps that can eliminate any frustration and help you feel safe and secure: 

Change Your Address

You will need to change your address for all magazine subscriptions, bills and other services. You can update your mailing address online or visit your local post office to find out what needs to be done.

Set Up The Utilities

When you move into a new home, you may get all of the contact information from the previous home owner or real estate agent for the utility companies. Be sure to change the services into your name before you move in, such as gas, cable, electricity, internet, telephone, sewer and water.

Change The Locks

You have no way of knowing who the old home owners gave a copy of the key to, so having the locks changed is something that you should do right away when you move into your new property.

Have The Carpets Cleaned

Get your life in the new house off to a fresh start by having the carpets steam cleaned before you move your furniture in. You could either rent a steam cleaner or pay a carpet cleaning service, but either way this will make the house feel really clean and new.

Figure Out Your Breaker Box

Another important first step to owning your new home is to figure out which breakers control each part of your home.

Knowing how the breaker box works will ensure that you can flip the right switch when you need to. You might need to ask someone to help you by standing in another part of the house and letting you know which lights come on or off when you flick the switches.

Check Your Smoke Alarms

The smoke alarms and CO monitors in your home might not have been checked recently, so make sure that they are functioning properly. Depending on how old they are, you might need to change the batteries. This is an important maintenance task for your own safety.

These are just a few of the important first steps that you should take when you first move into your brand new home.

For more information about buying a new home, feel free to contact your trusted mortgage professional today.

Post to Twitter

5 Important Tips To Help Smooth Your Move With TeensYou’ve got a new job offer across the country and you are planning to pack your things, buy a home and make the big move.

However, when you tell your 17 year old daughter your plans, she lets out a mournful wail and cries that it is not fair. How can you possibly take her away from all of her friends, her favorite hangout spots and the cute boy she just started seeing?

Moving is a difficult transition and it is often even more traumatic for teenagers. The teenage years are an important stage where young adults establish their individuality and independence and during this time their social circle is extremely important to them.

Being removed from that against their will can make any teen feel sad, confused, angry and resentful. Also, fitting into a new social scene in a different location can be a challenge for a teen that might be singled out as the “new kid”.

How can you help your teen during this transition so that the experience will be easier on them?

5 Tips To Help Your Teen Move More Smoothly

Here are some tips that will make the experience of moving a little bit easier on your teenager:

  • Give them as much notice as possible so that they have time to adjust to the idea of moving. They will feel like they have enough time to say goodbye to their friends and close a chapter of their lives.
  • Try to schedule the move around the school calendar, as moving in the summer is much less disruptive to your teen’s life than relocating in the middle of the school year.
  • Make sure that they have ample time to spend with their close friends before they leave and once you arrive, understand that they might go through a grieving process of missing their old pals.
  • When you get to your new home, make sure that your teen has plenty of ways to keep in touch with their old friends, such as an internet connection and a cell phone plan.
  • Encourage your teen to get involved in the community of your new hometown, like joining sports clubs or attending events. This can help them to make new friends.

Moving to a new city is always exciting but offers challenges like this one for families. For more advice on moving to a new Orange County home, contact your trusted mortgage professional today.

Post to Twitter

Three Tips To Get The Best Financing On Your Second HomeAre you buying a property as your second home? Perhaps you are looking for a small cottage or apartment where you can escape to for your vacations, or maybe you want to have another home closer to your relatives?

Maybe you want to rent out your second property and make a steady income from your investment. Whatever the reason, a second piece of real estate can be a fantastic investment. However, sometimes getting a mortgage on your second home can present a challenge.

Generally, a mortgage lender will have tougher standards for vacation home — or second home — loans than primary home loans. This is because usually when you are buying a second home your finances will be stretched thinner and you will have less money to spare due to already paying a mortgage on your primary home.

This additional risk may mean that your second home mortgage can be more difficult to close and likely could carry a higher interest rate.

Here are three tips to keep in mind that will help you to get the best mortgage on your second property:

Build up a decent amount of savings.

Your mortgage lender will want to be able to see that you have a large amount of savings in reserve so that you will have enough to pay for the mortgage even if you were to lose your job or other income source.

Pay off any credit card or installment debt.

Many lenders will be hesitant to approve your second home mortgage if they see that you have a lot of debt on your credit card. They will want to see that you have a low debt to income ratio so that you will be able to pay back the loan.

Use your primary home as a resource.

If you have always made your payments on time and you are well on your way through paying off your first house, you may have equity to borrow against for some or all of your second home purchase. Be careful here though.  There is a little known IRS regulation that requires the second home be financed under it’s own home loan within 90 days of closing to get the best tax advantages.

These are just a few tips to keep in mind in order to make getting a mortgage for your second property as easy as possible.

To find out more about investing in a second home or vacation property, contact your trusted real estate professional today. 

Post to Twitter

Why It's Critically Important To Have A Home InspectionMany home buyers have found the perfect house, signed on the dotted line and may think they’ve watched enough home improvement shows to know if the home they’re getting is in good shape. Unfortunately, some buyers make the mistake of skipping a home inspection in order to save a little cash.

Even if a home has already stolen your heart and you’re ready to pay for it as-is, you need to bite the bullet and hire a home inspector to let you know what repairs and financial repercussions await you.

Why You Should Hire A Home Inspector

You might know a thing or two about home remodeling and repairs. However, most people are not experts on the inner workings of a home. That is why it’s important to hire a professional to search for potential furnace issues, electrical wiring mishaps, plumbing weaknesses or roofing deterioration to name a few.

While a home might look like it’s in perfect condition on the surface, there could be major issues hiding beneath its façade. That’s why it really is imperative for your safety that you hire an inspector to scrutinize the bones of your home. Understanding any imperfections may also help you budget for immediate and future repairs.

When to Schedule the Home Inspection

Once you’ve signed a purchase contract, you’ll want to schedule a home inspection before the inspection period has ended. Even though you’ve signed the offer, an inspector could just find something that you just cannot live with or afford to fix.

While you would normally schedule an inspection after you’ve signed a contract, it’s important to have an inspector or two picked out beforehand. Ask your real estate professional or friends and family for referrals and then contact the inspectors for pricing and a list of what they will and will not cover at the inspection.

Once again, remember that the cheapest price may not be the best deal on home inspections.  Have a good understanding of what, and who, you are investing in.

Even if you do know a lot about the structure, plumbing and wiring of houses, don’t let your ego get the better of you. It’s important to shell out the additional money to hire an inspector and cover your assets. You’d hate to end up with a home that needs major renovations and not have known about it.

For more information on hiring a professional for your Orange County home inspection or for a referral, please call today!

Post to Twitter

Home-Ideas-Mothers-Day-2013Whether you’re looking to buy a new house this month or do a little remodeling, take advantage of the opportunity to give the mom in your life a present she’ll appreciate every day.

Below are a few ideas for housing priorities and renovation projects that typically rate high on women’s wish lists for their homes.

Open Living Areas

The open floor plan is usually a big plus for any mother. They want to be able to cook dinner in the kitchen while monitoring their children’s schoolwork at the dining table.

So look for a house that affords this visual luxury or consider the generous gift of getting dirty and knocking down some walls.

Large Closets

What woman doesn’t need more room for her clothes, shoes and purses? If you’re looking at houses, keep in mind how much closet space will work for your wife or mother.

If it’s not enough, see if there’s another area you could convert to create a custom closet. Another great gift would be to upgrade your mom’s closet with a new shelving and organizing storage system.

And great storage doesn’t stop in the bedroom. Most women like to keep the family’s things organized and put away, so think about upgrading some of the other cupboards and closets in the home as well.

Low-Maintenance Living

Some women are expert gardeners or love home-improvement projects; however, many just want to leave those tasks to someone else.

Many moms love easy-to-wipe-down granite counters and hardwood floors.  These can be beautiful and functional home upgrades all at the same time.

And especially if you’re shopping real estate for an elderly mother, consider looking at Orange County homes that are new construction, have easy-to-care-for landscaping and maintenance-free siding or brick.

Easy-to-Use Security System

While security is important to everyone, it ranks high on most women’s list of priorities. As a Mother’s Day gift, research providers and have a security system installed.

Whether your mother is living alone or your wife is worried about the family’s safety, this practical present will give everyone peace of mind.

Make a big gesture this Mother’s Day by giving the woman in your life that renovation project she’s been pining over.

And, if looking at buying a new home, keep in mind what’s important to Mom. 

Finally, if you’d like more tips on Mother’s Day home shopping or upgrades, call your favorite real estate professional for the best advice.