Rooms for Improvement: The Joys and Challenges of Fixer-Uppers
The house that needs work - it's not for everyone. But then, the secret of real estate success, for both a professional like me and a potential customer like yourself, is finding the one home that's right for you. And a fixer-upper even offers the opportunity to have your dream house not be found, but made.
It's important to keep in mind the balance of challenges and chances that a fixer-upper presents. For buyers with cost as a concern, a house needing work will definitely be more affordable - though the discount can stem from some major problems, and the price savings go hand-in-hand with later renovation expenses.
Even so, at the initial bargain price some families find a fixer-upper comfortable enough to live in while saving for renovation. This kind of at-home pioneering makes fixer-uppers not the best idea for first-timers. However, experienced homeowners have an edge, being more familiar with renovations in previous houses and knowing what to expect in both inconvenience and rewards.
In any case, the standard rules for all home purchases apply to fixer-uppers - and often more so. Getting a thorough home inspection, for instance, is crucial, to learn all you need to about homes whose history and condition can be unknown (or in some cases undisclosed). But once again remember that turning up problems can also identify economic breaks; since the purchase price for an "as is" home will be lower, so will related costs such as transfer taxes, and property taxes might be too.
If the fixer-upper is just your kind of challenge, then you have the chance to shape your space to just your type of taste - and that of potential future residents. The fix-up can enhance the possibility of appreciating the home's resale value. As with any home, you'll want to think carefully about which improvements will make up their cost, but with a fixer-upper the benefits can be reaped not just from the house but its location - older neighborhoods can be preferred by many buyers to newer housing developments, so getting a like-new home you prepared in a more old-fashioned area can be a strong attraction.
One resource you may want in your fix-up tool kit is the services of a qualified real estate professional. Not only can we advise you on financing options, but we also often have fixer-uppers we'd love to find the right buyer for, and can call you about as soon as they're available. If you're ready for the challenges and rewards, your neighborhood agent may be ready to "fix you up" with your future dream house.
If I can be of any assistance or show you what we can offer please don't hesitate to call or email. Our service, values and expertise are vital in this market! If you need help with any real estate needs or want to SEARCH the MLS for FREE check out www.ISellCincinnati.com or email mike@ISellCincinnati.com or call 513-325-1959.
New Kid on the Block: Moving With Children
Moving is a major change for all members of a family. Adult responsibilities weigh heavily when keeping track of all the tasks needed to make a move go smoothly. If you have children, this may be a difficult time to focus on their problems, too, but it's also one of the most crucial times to keep their concerns in mind.
Sometimes what seems like a major disruption to grownups is viewed as an adventure to the kids. Still, changing homes can also upset feelings of stability (in the case of younger children) and belonging (in the case of teens). These are special concerns for these age groups.
The most important thing a parent can do is maintain normal routines as much as possible - and when it isn't possible, to let the kids know that apprehension about a big life change is normal, too. Try to keep calm about the move yourself, and your children will be more likely to follow your lead. It is advisable to be open about what's happening and how everyone feels about it.
This means keeping your kids in the loop at each stage of the move. They don't have to get a vote, but it helps everyone for them to get increasingly used to the idea of this change. Bring them along when you look at houses, make them familiar with the new area you're moving to, and investigate its attractions (including the athletic or extra-curricular offerings that appeal to your kids). Exploring some of this on the Internet is a good way to relate your relocation to an activity they already enjoy.
Encourage your children to express any worries, and do what you can to reassure them. If you went through similar experiences as a child, you can share how you dealt with it - if it was easy, so much the better, and if it was hard, your children will know they're not the only ones who have ever had to deal with change.
Other neighborhood kids may grow distant when they know a friend is leaving. This is hurtful to your own children, but try and explain that some kids aren't yet mature enough to handle it another way, and that it isn't your kids' or even the others' fault.
Minimizing transitions and heading off family disputes are each essential to a smooth move with children. Try and arrange visits to the new school and meetings with the new teachers before the school year or semester starts. When you have more than one child, make bedroom assignments in the new house as soon as possible to avoid sibling strife (comfort, privacy and age seniority are all issues of kid politics that it is sometimes easy for grownups to forget).
Above all, be open and patient. If you pay the right attention, you will be letting your children know that, move or no move, the most important people in their life aren't going anywhere.
If I can be of any assistance or show you what we can offer please don't hesitate to call or email. Our service, values and expertise are vital in this market! If you need help with any real estate needs or want to SEARCH the MLS for FREE check out www.ISellCincinnati.com or email mike@ISellCincinnati.com or call 513-325-1959.
When a Home is Not a House: Condo Pros and Cons
Many real estate watchers can remember when buying a condominium was most would-be homeowners' second choice. These properties were considered a half-way measure for people wishing to break out of renting but not quite able to obtain a house. Now, condos are not only seen as a smart step between the two stages, but are an increasingly sought-after option in their own right. It's not just that condos are an attractive intermediate move, though this is an important recent reality of homeownership. Since 2002, condo values have been appreciating faster than those of single-family homes, making them a good start for first-time homebuyers who would like to build equity for a house purchase a few years down the road. Condo sales are growing, too, reaching record numbers and also outpacing single-family homes in 2002. Condos are now viewed as a great middle ground for people at opposite ends of the homeowning spectrum: first-time homebuyers appreciate the still-competitive prices of condos as compared to single-family homes, and retirees like the convenience of condo living (with affordability certainly an attraction for the seniors and simplicity an appeal to busy young professionals, too). A condo can keep benefiting its buyer even after they move (if they even ever want to): some owners keep their condo as a rental investment when they switch to another kind of home. Still, as with any living arrangement, you want to make sure the situation is right for you. One big consideration is the ways in which a condo's conveniences come with certain trade-offs. As in a conventional apartment complex, most maintenance work and many other homeowner hassles will be taken care of for you, but not without expense. All residents must join an association which requires dues and makes certain decisions in concert that homeowners would otherwise make themselves. You will want to carefully check out what restrictions apply - are pets allowed? Home offices? Can you paint and garden as you wish? You'll want to find out if the fees are within your budget, and how they might go up (for instance, to pay for any big repairs if there isn't already a responsible reserve fund). And you will want to be sure you're comfortable with the communal decision-making process in general. You also owe it to yourself to make sure that any current boom has reached the condo complex you're interested in, with a good sales history and a promising future - and to figure out your financing prospects. Lenders give lower rates to buyers in developments with fewer renters and more owner-occupants (absentee ownership can affect both quality of life and property value). With the right research, a condo can become not a compromise you can live with, but the place where you'd most like to live.
Save More Than Energy: The Cost-Efficient Home
The energy-efficient home is moving from the horizons of futuristic planners to the agenda of current homeowners.
It's not so much a matter of newer technologies - though alternate energy sources like solar and geothermal are making considerable inroads in the modern home. It's more a matter of improvements on very familiar furnishings and appliances. Put simply, these options save by losing less.
It may be well worth it to give your home an efficiency upgrade. First, you'll want to figure out what needs fixing. To identify problem areas, contact a qualified professional and get an energy audit of your home. Some upgrades are simple and less expensive. For example, one common problem is insulation. The Environmental Protection Agency (EPA) says that proper ceiling insulation alone can reduce your heating bill by as much as 20 percent. Other energy draining can be solved by replacing old fixtures with more modern and efficient models. Windows, doors and skylights equipped with sealed double or triple panes also reduce heating and cooling costs, and are features for which utility companies often offer rebates.
The EPA notes that air leakage from gaps in your home's structure - holes for plumbing and wiring, for instance - accounts for 25 to 40 percent of the energy a common home uses for heating and cooling. Similar troubles come from inadequately sealed duct joints and otherwise inefficient, older heating and cooling systems. All can be repaired or replaced.
Even conventional systems such as ventilation can release enough heat from your home to cost a fortune in unnecessary bills. Upgrading these systems can pay for itself - and later pay off as an attractive resale value when possible buyers of your home want to benefit from this form of savings.
And when you're ready to go from finding the problem to fixing it, the government doesn't just supply the bad news - it provides some solutions, as well. The EPA's "Energy Star" rating has appeared on numerous products, identifying efficient appliances and other home furnishings that enable vast savings. Energy Star central air conditioners can save 20 percent on cooling bills.
Studies have shown the resale advantages of homes with lower energy costs. Look for such solutions, and buyers will be more likely to look into your home. Your utility bills, Energy Star fact sheets and other documentation can be attractive proof to present to prospective buyers.
In the short term, you can save on some of these improvements even as they enhance your home's value. In addition to offering expert advice and home-selling solutions, real estate brands such as ERA Real Estate, feature the ERA® Select Services® network of national and local vendors with leading household products, often at a discount.
Let me help navigate the options and opportunities available for the energy-conscious homeowner. Your investment in the future can have many returns right in the present.
If I can be of any assistance or show you what we can offer please don't hesitate to call or email. Our service, values and expertise are vital in this market! If you need help with any real estate needs or want to SEARCH the MLS for FREE check out www.ISellCincinnati.com or email mike@ISellCincinnati.com or call 513-325-1959.
Empty Nests and Full Houses: Remodeling for Departing Kids and Returning Parents
The American family is ever-changing, and its primary space, the home, has always changed with it. The present day is no exception: The largest segment of the American public, the baby boom generation, is entering retirement age in high numbers, and confronting "empty nests" when the kids go off to college or marry and move out permanently, presenting the challenge of what to do with the sudden extra space (since most "boomers" prefer to "age in place" rather than leave their long-time homes).
There is also the perennial family responsibility of caring for older relatives as their health needs require them to move back in with their grown children and in-laws. Extended families (including grandparents raising their grandchildren) have also become more commonplace. Situations like these can pose the challenge not of how to deal with extra space, but how best to add more.
Changes which only affect the inside of a house can be the simpler type, but are not necessarily any easier a decision. However, there are a number of inviting options to consider. Mature baby boomers who are ready to enjoy the fruits of a lifetime of work and have the funds to invest in doing so, are converting the extra space vacated by the kids into everything from "wine cellars" to libraries.
Home offices are popular, and tap into a growing trend. They come in handy for organization and privacy, whether you've got a business or merely need a space to keep your bills and personal files straight.
Hobbies are big with boomers, so a hobby room for sewing and other crafts makes sense. A small home gym, with treadmill, weights and a TV to pass the time, is also a good investment for both fun and health.
On the other hand, many of today's homeowners are opting to add that extra room - or rooms - if they don't already have one, for entertaining guests, housing returning relatives, or setting up a separate but accessible space for an elderly parent or in-law. Before you do this, there are a number of questions to address, including what local zoning ordinances will allow for additions, and how the aesthetics and size of the addition will affect resale value.
There are also family matters to make sure everyone understands. While some younger families move grandma in with them, some older ones sell the house to a son or daughter and move into the addition themselves.; In all such situations, it's important to agree beforehand who owns what part of the house, whether rent will be charged, who will pay for any extra utility or property-tax costs, and other sensitive issues that don't have to become divisive ones.
The right real estate professional can give expert guidance. Programs like the SRES ("Seniors Real Estate Specialist") designation available to ERA Real Estate professionals are one guarantee of expertise in senior concerns, and programs like ERA® Select Services are one great way of finding reliable contractors and possible discounts. Consult with your local real estate office, and no matter how your house may change, it will remain a place where everyone feels at home.
If I can be of any assistance or show you what we can offer please don't hesitate to call or email. Our service, values and expertise are vital in this market! If you need help with any real estate needs or want to SEARCH the MLS for FREE check out www.ISellCincinnati.com or email mike@ISellCincinnati.com or call 513-325-1959.
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