Category Archives: Home Buyer

How Do Interest Rates Affect my Ability to Buy a Home?

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How Do Interest Rates Affect my Ability to Buy a Home? Many factors can affect your ability to buy a new home, it just depends on each individual home buyer and situation. Interest rates can have an immense effect on any given person’s ability to buy a home, and home loan interest rates have been increasing recently. Here are some ways you might be affected by interest rates, and some ways you can act on it.

Home loan interest rates have been rising in the recent past, and this can affect the home loan you can qualify for. You might not be able to take out as significant of a loan if the interest rates are higher than you expected. This, in turn, can affect the type of home you can afford.

The higher cost of money, or interest rates, leaves you with several options when you’re searching for your new home. If you’re a homebuyer, you can alter your search terms, and look for houses that will be less expensive and more affordable for you in this situation. If you’re a home seller, you might consider lowering the cost of your home, or the buyer will have to pay higher monthly payments. If the buyer cannot make higher monthly payments, they ultimately will not be able to afford this particular home.

Due to these rising interest rates, more buyers are being forced out of the market because they cannot afford the cost. What does this mean for sellers in this market? Well, they won’t be able to sell their homes at this cost. With little competition, you will either need to take your home off the market, or sell your home at a significantly lower value.

If you are serious about buying a home, there will be no stopping you. Interest rates affect everyone and each situation is different; however, there is often a solution if you work with your real estate professional, who has knowledge of the area and market..

To learn more about how interest rates affect your ability to buy a new home, visit here.

6 Ways to Prepare Your Home For The Cold Weather

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6 Ways to Prepare Your Home For The Cold Weather – We just experienced our round of snow for the year and many homeowners are preparing for the cold weather. Preparing your home for the change in season can be very helpful to you in the long run, and even keep your home looking and feeling like new. Here are six ways to prepare your home for the cold weather this year.

Use Plastic on Your Windows

Covering your windows with plastic might sound crazy to some, but it will help to cut down on your energy bill this season. Some homes are draftier than others, but keeping the warm air in and the cold air out will always be helpful.

Clean The Gutters

Whether you’re home is near trees or not, be sure to clean out your gutters before the weather becomes too cold to do so. Natural things accumulate in your gutters throughout the year, so cleaning them before snow starts falling can help to prevent ice dams and other potential damage.

Boost Lighting

Winter tends to be a dark and dreary time, so boost the lighting in your home for days like that. It will keep you more energized and ready for each day.

Reverse Your Ceiling Fan

Reversing your ceiling fan will help it do the opposite of what it does in the summer times, it will help to keep the warm air circulating throughout the room. This works particularly well in rooms with very high ceilings, but has the same effect all over.

Inventory Your Supplies

Nothing is worse than not having a snow shovel or a brush for your car when you’re trying to get out of the driveway. Make sure you have the things you need before the weather becomes bad and it’s too late.

Prepare For A Storm

The weather is a unpredictable thing, so make sure you are prepared for any scenario. If there is a winter storm and the power goes out, how will you keep warm or prepare food? Being prepared for a situation like that will keep you more calm in the long run.

To learn more about how to prepare your home for the cold weather, visit here.

Why Should Someone Choose Rita As Their Realtor?

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Why Should Someone Choose Rita As Their Realtor? Buying or selling your home is a huge task. Whether this is your first time, or you’ve done it a million times, a little help from a professional can always help you in the best possible way. Rita Boswell prides herself on the communication she has between herself and her clients. She’s an expert on residential real estate sales and listing, single family homes, condominiums, distressed properties, short sales, downsizing, relocation, and working with buyers and sellers. She is a great resource when it comes to the real estate market, and you can always expect honesty and integrity from her – something that isn’t true for every agent you work with in your lifetime.

About Rita

Rita may not have started her career as a real estate professional; however, that has been a great benefit and has given her a broad background and set of skills that not many professionals have. She began her career as an accounting and support operations manager, where she learned business skills that she applies to her life in the real estate business today. As a native of central Ohio, she is familiar with the area and can provide the best possible advice to buyers and sellers.

Location

Rita’s office is located in the heart of Worthington, Ohio. She serves a number of communities surrounding central Ohio, including: Clintonville, Delaware, Dublin, Gahanna, Galena, Hilliard, Lewis Center, Powell, Sunbury, Upper Arlington, Westerville and Worthington. Working and living in the area gives her an extra advantage when it comes to being a great resource for her clients. Her knowledge digs deeper than the surface, making her a reliable and trusted real estate professional.

What she has to offer

Rita has plenty to offer to individuals and families who are looking to buy or sell their home. Not only does she have extensive knowledge of the real estate industry, but she is familiar with the ins and outs of central Ohio, and keeps your best interest at heart as a homeowner. Her listings range from condos to single family homes to rentals and everything in between, and she works to ensure that her clients are happy and satisfied with their home in the area.

 

To learn more about Rita, and all of the wonderful things she has to offer that will help you sell your home and find your next home, visit here.

6 Tips To Budget For Your First Home

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6 Tips To Budget For Your First Home – There is a lot to consider when buying your first home. Don’t just save for the down payment, consider other hidden costs. Don’t forget about the home inspection, repairs, closing costs and even moving expenses. Follow these next few tips when buying your next home.

1. Home Inspections – Home inspections are highly encouraged in order to make sure that there are not any major issues with the home you are buying.You never want to buy a home without an inspection. Inspections can cost $300 and upward depending on the type of inspection you get. Remember, the more thorough the better.

2. Closing Costs – According to bank rates annual survey, the average closing cost for a $200,000 home is about $3,754. Talk with a lender to get a general idea of what those costs will be. Closing costs usually cover lender fees, title fees, appraisal, and more.

3. Try Auto-Saving – Did you know that most banks can set up automatic transfers to your savings account from your checking account each month? You can also request that a certain percentage of each paycheck be deposited into your savings account. These are both effective strategies when saving for a big purchase and will add up before you know it!

4. Down Payment – Talk to your lender to get a general idea of what your down payment for your next home will be, as well as your loan options. The percentage of a down payment can vary greatly from buyer to buyer, but it is generally more cost effective to put down a higher rate. A larger down payment can save you on interest in the end depending on the home you choose, the loan you choose, and the money you have saved up. Talk to your lender about your options so you can plan.

5. Moving Expenses – Moving expenses are usually overlooked and end up costing more than anticipated. Planning ahead can help you avoid extra costs. Ask friends and family for help or do research on the most cost effective options in your area.

6. Decorating Expenses – Buying a new home is a very exciting process, especially once you are moved in and ready to decorate. Plan a budget for decorating costs as they can add up quickly as excitement increases.  Furniture and large items can be purchased on credit to avoid up-front costs, as long as you plan on making regular payments. Always plan ahead and do your research but don’t forget to have fun!

Keep these tips in mind as you think about your next home purchase. It is essential to have a set budget and to plan ahead. Let us know in the comment section how these tips have helped you or if you have any tips of your own!

 

Tips To Strengthen Your Credit Score

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Tips To Strengthen Your Credit Score – This is always a tricky subject. Just for the simple fact that everyone’s situation is different. To help you out, here are a few tips from Bankrate that will help you move in the right direction…

Watch Your Credit Limit – A way to help strengthen your credit score is to keep the balances on your credit cards low. How much revolving credit you have vs. how much you’re actually using. According to Bankrate, the optimum is 10% or lower.

Reduce The Number Of Cards – This isn’t what you think! This means stop using all of your credit cards. Instead have one or two cards you use for everything. It may hurt your credit score to have a $50 balance on one card and a $30 balance on another. Instead, pay those off and keep to just a few main cards.

Good Debt vs. Bad Debt – Good debt is where you have a long history of repayment records, such as a car loan. Some try to get this removed from their credit report once they pay it off thinking it could be harmful to their score when in fact it can be great for their credit score.

Pulling Credit – When shopping for your next big purchase such as a home, car, etc, these lenders will need to pull your credit score to see what loan options you have. Try sticking to a short time frame when shopping around and pulling your credit score with different companies.

Pay Bills On Time – This might seem obvious but it’s even more important when you are trying to make a big purchase. If you are saving up for a home, don’t pass on paying that electric bill because you need that money for your down payment. Mistakes like this can change your credit score which can effect the purchase of your home.

Don’t Hint Risk – Missing payments or paying less on your credit card than you usually do can hint risk to your card issuer. Taking out cash advances or paying for a divorce attorney can do this as well. Although it doesn’t necessarily effect your credit score, it is still something you should avoid.

Stay Informed – Whether you are looking to make a big purchase or not, it’s still important to know where you stand on your credit report. However, don’t obsess over until the moment comes where you are ready to make that big purchase. Pay your bills on time, keep a low balance on your card and create some consistency. Feel free to monitor your score every four months or so to know where you stand.

With these tips in mind, strengthening your credit score will be an easier process! Do you have any tips to share? Comment to share with us!

10 Reasons To Make Sure A Home Is Inspected Before Buying

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10 Reasons To Make Sure A Home Is Inspected Before Buying – Buying a home is a major investment and can be a lot to take on. Having a home inspection before you buy your new home is one of the key ingredients in the home buying process. Here are ten reasons why you should make sure a home has been inspected by a professional before you buy.

1. It can prepare you for projects you might have to complete upon moving in to your new home. If you’re not able to complete the projects, then the home isn’t for you.

2. Depending on the results of the inspection, you can decide on what to offer for the home. A less than perfect home inspection can often warrant a lower offer price.

3. You will learn about the ins and outs of your new home.

4. It will help you make sure the home you are moving into is safe and livable, for the whole family.

5. It will provide you with the actual value of the home, which in the long run can help you determine how much return you will get on your investment in the future.

6. If you’re in a high-risk area, having a home inspection can let you know if your home is able to withstand earthquakes or natural disasters.

7. You can get recommendations from a home inspector and if you choose to follow them, it could save you a lot of money in the long run.

8. You will have an accurate evaluation of the entire home before you choose to purchase it for you and your family.

9. It gives you a deeper look, past the shiny floors and clean exterior.

10. Above all else, it gives you peace of mind knowing that a professional has given your new home the stamp of approval.

To learn more about why you should make sure a home inspection has been completed before buying your new home, visit here. What do you think about these tips? Have you had your home inspected before buying? Comment to share with us!