When is the time to buy and how much do you want to spend ?

When is the time to buy and how much do you want to spend ?  

You’re currently renting and paying a high rent.  You would like to own your own home and an investment for the future.  It’s a big step and you’re keen to get the timing right.  The truth is everyone’s situation is different and no one can predict the future.  Sometimes people think it’s best to enter the market and buy a home when consumer sentiment is low as there can be good value available.  Once the economy improves and confidence returns this usually means that prices will start to increase. 

The next thing is to decide how much you want to spend on your home.  Setting a budget for your property purchase is always a difficult and very important decision.  You need to know how much you can afford each month and translate that into the amount you can afford to take out on your new mortgage.  When you start house hunting with that budget in mind, you may find to your dismay that you are not seeing many homes in the price range you have set that match your needs.

There are three choices you have to make in this situation.  The first is to wait , keep looking, and hope the house you want comes up on the market in your price range.  The second is to compromise and buy a house that is affordable but not really what you want.  The final choice is to look at raising your budget. The best advice is not to rush into making a hasty decision.  Figure out what your current financial situation is and put a cushion in place when calculating your figures in case your circumstances change in the future.  If you are considering raising your maximum purchase price then calculate what difference it will make in your actual monthly payment.  In some cases the difference may not be as difficult to handle as you might think.  Using a mortgage calculator you can easily figure out what it would cost you per month to increase your budget figure by say €20,0000.  Sometimes even a small raise in your maximum price can put you into a whole new class of available homes.

Therefore the decision you have to make is if you are you willing to consider making some personal budget cutbacks such as on entertainment to enable you to have the house of your dreams ?  How important is it to you to get everything on your wish list or are you willing to compromise on something ?  If having the right house is the most  important thing to you then you may be prepared to stretch your finances to achieve your goal.  A little flexibility is always a good idea when you start searching for the right house as sometimes spending a little more will save you later in terms of property value.  It can also save you from having to move again when you decide the compromise to save money was not worth it and you need to move to a larger property or a different area.

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How to remodel your home to Increase Your Selling Price

How to remodel your home to Increase Your Selling Price

So you are ready to sell but you know that there are a few things in your property that require some updating in order to increase your selling price.  Your budget may be limited and you are wondering where and how to spend it.  The good news is that there are some solid answers.  It is generally accepted that there are certain things that can increase your selling price more than others.  Don’t go out spending money until you get advice from the experts on what return you may get from your investment. Whether you are getting ready to sell or simply want to remodel now for the best value when you do sell later these are some things that usually give you a better return on your investment.

The Kitchen

Remodelling the kitchen is one of the most important things you can do in your home especially if the kitchen is dated.  It is often one of the first rooms a potential buyer will see and it should make an impression.  The kitchen is often considered the soul of the home and most people spend a good deal of time there.  Upgrades to countertops, cabinets, and appliances are one of the wisest investments you can make in your home.

The Bathrooms 

Second only to the kitchen, the bathroom is the room in the house where dated fixtures or flooring can cost you a sale.  People want a bathroom that is clean, comfortable, and modern.  Neutral colours are best whether a paint finish or tiling as this is a place of privacy and peace so the less fuss the better.  Spending money on a bathroom remodel will almost always be the best way to spend your money and you will see it in your selling price.

The Front  

Getting people in to look at your house is the first step.  First impressions last so as potential purchasers approach your hall door ensure that that the entrance is appealing and welcoming.  Spending some of your money on the front exterior of the house and the landscaping can be advisable.  Improving the look of the house from the outside means you can bring more people in to look and to buy. 

The Back Garden

People love the idea of having some attractive outside space to entertain friends and family.  Also parents usually emphasise how important it is to have a garden for the little ones to play in.  Money can be well spent on a good tidy up and enhancement of any outside space regardless whether it is grass, decking or another finish.

Remodelling your property now for a better sale price later can be a smart move.  As the sooner you do it the more you will be able to enjoy it before it is time to sell and move on.  If well thought out and done correctly to a quality finish you can definitely make additional profit.

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Setting up a home office

When purchasing it is good idea to consider if this property will suit if you should decide to set up an office from home in the future.

More and more people are starting to work from home.  Not only the self-employed but also a lot of companies are now allowing their staff to operate from their home.  If you are looking for a property be sure to take this into account.   Should you start doing your job at home you will need to be able to set up the right space in your private dwelling.

Consider the location

Working from home can be difficult especially if other people are around during your working hours.  You will need to find a location with as few distractions as possible.  Equally that is why you need to visit the location where you are thinking of buying at different times of the day to establish if the area at certain times is overly busy and potentially noisy

Consider the current style of the property

Does the style of the property meet your demands as it currently is.  If so then this can save you a lot of time effort and money.  However it’s not always possible to achieve your dream and most people have to compromise a little when purchasing a property.  Check out properties which already have additional unused space e.g. outside shed, garage, large attic area with adequate headroom.  Many properties for sale have owners who are currently running their business from the dwelling a typical example of this are all the online companies that have been set up in recent times.  In some cases an outside  shed or garage may have already been converted with this use in mind.  Ideally if this has been done correctly then there will be adequate existing electrical power points and heating.     

Consider the potential

Equally think about the potential to extend or convert in the future to enable you to achieve the additional space that you will need should you choose to work from home.  Once again an outside shed may have offer huge possibilities.  Likewise people nowadays in general prefer to park their car in the driveway instead of going to the bother of using the garage.  There are a lot of garages that are currently only being used for storage.  Of course attics can offer the perfect solution to finding that extra space to work from.  An attic conversion can be done provided the design of the house allows for the head height necessary to make the conversion workable.

Consider how to make the best use of the available space

If you have a whole spare room to yourself and lots of space then you can purchase a full-sized desk in whatever style suits you.  However if space is restricted be sure to test out a desk to see how it fits for you before you commit to purchase.  Measure your room in advance and allocate how much can be put in the space you have.  No doubt you will need workspace for a computer, printer, telephone, filing facility ?  How many drawers do you need?  Even with a wireless internet connection in your home wires can get in the way.  Use zip ties to keep them clean and organized and label each with what it goes to so that if things ever get unplugged you can get it all hooked up again quickly. A small rolling cart is great for printers or accessories and can be rolled out of the way when not in use.

Your home office can be very comfortable and successful if you pay attention to the details.  Ideally keep the workspace away from things like the television or any place where kids might be playing, as these can obviously be a distraction when you're trying to work. Look for a place near a window for natural light and make sure you will be able to make the space comfortable for your use without a lot of expense.  The perfect work space can be created no matter how much room you have to work with. 

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Looking At A House Objectively: What Matters And What Should Not

Everyone heads out to look at potential homes with a list of the things they want in a house, and a list of the things they definitely do not want.  In addition to that wish list, there are also some other things you will notice about the homes you visit that may strike you as potential problems.

When looking at homes, it is important to know what things are deal breakers and what things are minor issues that you can deal with easily.  Turning down a dream home because of something that can be easily fixed seems like a silly thing to do, but it happens surprisingly often.

Cosmetic Issues

When you walk into a home which has outdated wallpaper or paint colours you wouldn't dream of using, it turns you off immediately.  While that first reaction is normal, it is important to take a moment, step back from that instinct and think about it objectively.  Painting is not that difficult or expensive, so try to imagine how the home would look with a different colour palette, one that is more your style. You might wish to redecorate to suit your taste anyway, so don’t let those details cloud your judgement.

Being able to recognise which issues are merely cosmetic and can be easily fixed is very important to finding a house you will love. Be prepared to visualise the home as you could make it perfect with a few cosmetic changes.  It will open you up to the different possibilities and might allow you to consider homes that aren't perfect the way they are now, but could be just right for you with a little elbow grease and a touch of paint.

Major Repairs

In some cases the major repairs that a house needs might be obvious.  Sometimes they might only be uncovered during a home inspection.  Either way, you will need to give consideration to whether or not you are willing to deal with the problem.

If the home needs expensive repairs, you can either try to get the vendor to do the repairs or accept that you will need to do them yourself.  In many cases, the vendor will not be willing to take on major repair work, but they may reduce the asking price accordingly.  Still, this might be a deal breaker if you are looking for a home in turnkey condition.

Knowing The Difference

A house inspection is the best way to uncover all of the issues, both minor and major, that a house might have.  When you review the inspection, look for things that can be dealt with easily as well as those that can't.  The amount of work you are willing to do will determine what problems you can personally live with.

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Should The Vendor / Tenant Be Present During House Viewings?

Showing your home can be a stressful experience for some - you have to keep it clean and ready, always looking its best, and you also have to consider where you'll be during the viewing.  Most people choose to leave the home, but if a viewing is arranged at the last minute and you don't feel you can leave, should you stay? 

Why it’s important to leave during viewings.

Most buyers prefer to look at a house while the current residents are out.  This is because it makes them feel more relaxed, since it's unusual enough to be walking through and examining a stranger's home.  It allows them to make observations and ask questions, which they might feel uncomfortable asking with the owner present.

Especially if you have a family, it can be really hard for people to get a good look at and feel for a house with you and your kids are around.  Leaving the house might be difficult sometimes, but allowing people to get the best possible look at your home means it's more likely they'll be interested in making an offer for it. Being close, but staying out of the way during a viewing can be beneficial; consider going out for a walk or drive, especially if you have kids who could get in the way.  You'll be nearby for questions and yet out of the way. 

It’s in your best interest.

You and your family can be a distraction for those who want to really get a good feel for the home - remember, they need to envision their family living there, not yours.  If you as the owner or in a rented the tenant absolutely must be present, then it is essential to stay out of the way as much as possible, and make sure the estate agent knows you would like to be helpful if there are questions - but stay away unless asked.  In other words give the professional estate agent the time and space to do their work it’s in your best interest to do so. 

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Ten Items That Are Most Likely To Be Left Behind During A Move

When the moving day arrives, there's nothing quite like the nagging feeling that you are forgetting something.  But, don't let the moving blues get you down because there are a few tricks that you can use to make sure that you don't leave anything behind.

Most often the last things that you use are likely to be the ones that are forgotten, so make sure to do a final check through the house before leaving. Before you start packing for your move, make a checklist of the items you need to remember to pack.  If all else fails, use the following checklist to help you retrieve ten items, that are most likely to be left behind during a move. 

1.    Lawn Mower.  Although that is not a small item that's easy to miss, it is easy to forget your lawn mower because it's likely to be stored away in a shed or another location outside the house 

2.    Medicine.  When people go on vacation, their medicine is one of the most commonly forgotten items.  Therefore, it just stands to reason that it may also be easily forgotten during a move. They are easily overlooked, because most medications are kept in a medicine cabinet.

3.    Tools.  We all use tools for simple fix-it projects, but we rarely think to pack them.  Tools are important but, because they are not something that's used every day, they are easy to miss when packing for a move. .

4.   Flashlight.  When the electricity is out or you find yourself outside after dark, these handy gadgets are a necessity.  Moving day, however, often finds families in the dark when it comes to realising they have forgotten their trusty flashlight.

5.    Bathroom Plunger.  It's not a glamorous essential, but it is a necessary one nonetheless.  A plunger is the easiest item to forget on moving day.

6.     Coffee Maker.  If you or someone in your family is a lover of caffeine, your coffee maker is a kitchen essential.  It's likely to be one of the last things that you will use before leaving the home, so it's also likely to be forgotten.

7.   Toilet Paper.  Speaking of one of the last things that you will use before you leave the home, toilet paper will be one of them.  Pack it or buy it when you get there but, either way, this is one kind of paper that you can't afford to forget.

8.   Car Keys.  Whilst taking your belongings to your new home, it's extremely easy to forget your spare set of car keys.  Do yourself a favour and make a note to take them along.

9.     Safes.  Nowadays many families have these, but alot forget them during a move.  Although most safes are purchased to store important papers, such as title deeds, and other essentials, they can be overlooked as they are usually located in an inconspicuous place.

10.     Bills.  Believe it or not - bills are easy to forget.  Most people think about the obvious items that they can see, but it's so easy to accidentally mix some new bills with the old ones and simply discard them.  As we all know this can cause serious problems in the future.

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Planning to buy a house? Here's how to get the cheapest mortgage

This article originally appeared in the Irish Independent.

In an expected move, AIB will, for the fourth time in 18 months, drop its variable mortgage rate from July 1. Curiously, sister banks EBS and Haven haven't followed suit. 

What are the criteria, and how hard is it to get that loan?

However, KBC, ever aggressive, was quickly out of the traps last week with its own offer, undercutting its rival, but only for new customers - existing ones get new fixed rates.

All have incentives and offers to get customers in the door, from paying your legal fees to discount insurance.

What it all means is that banks want new business. They see cranes are sprouting up (albeit not in great numbers), and rising prices put property front and centre. But don't be fooled. Irish customers still pay almost twice the interest rate on mortgages as other Europeans.

The banks are borrowing the money for free, and passing it along at 3.3 to 4.5pc, trousering the profit. The average mortgage interest rate in Spain, for instance, is 1.68pc.

This week, I'm looking at the different types of mortgages on offer, from the first time buyer to those unfortunate enough to be in negative equity. What are the criteria, and how hard is it to get that loan?

General Tips

Know your Loan To Value (LTV). This is the difference between the value of your house (not always easy to determine) and the mortgage on it. A house worth €300,000 with a mortgage of €230,000 has an LTV of 76pc. The lower this figure, the better interest rate you'll get. Banks may charge for a valuation.

You'll be asked to prove earnings and provide bank statements for at least six months. Preparing these to look as attractive as possible is vital. Don't tip into overdraft; use your debit card and show a clear pathway for outgoings.

Using a mortgage broker will cost around €500, but it is money well spent given such a big financial undertaking. They'll do all the paperwork and know the best banks to do deals with.

Your deposit needs to be clearly shown. Banks don't like other loans providing it, or parents. They like to see clear, long-term savings.

Consider variable and fixed rates. The ECB shows no sign of increasing interest rates, and banks build this into fixed offers, preferring to shore up customers for one, three or five years. They are attractive, but you are tying into a contract.

First-Time Buyer

FTBs only need to find a 10pc deposit up to a house value of €220,000. This is very difficult in Dublin, and 20pc over this figure is needed. For the average house price of €349,000, that means coming up with €46,200 - a significant amount. The Central Bank has been asked to look at this, but is standing firm. It is the main reason house prices in commuter counties are on the rise again - 70pc of starter homes outside Dublin are sold for under €220,000.

Trader-Upper

Moving up requires a deposit or equity of 20pc. So, getting your LTV is vital before approaching your bank. Trading up is an ideal time to consider switching bank - many offer incentives, such as Bank of Ireland's 2pc cash back offer (which PTSB also has). The former has higher interest rates, however. AIB offers free current account banking for switchers while KBC and Ulster offer money towards legal fees.

Negative Equity

Loans are possible if your LTV is over 100pc. However, they are difficult to secure. If you are in a small apartment with a growing family but your mortgage is higher than the property's value, it is possible to get a bigger one, but the requirements are quite stringent; however, you only need a 10pc deposit to secure one.

Here's how they work:

Current house value, €180,000. Current mortgage, €245,000. Negative equity, €65,000 (or 136pc).
You find a new house priced at €350,000, putting up a 10pc deposit (€35,000) and making your new mortgage €315,000, plus the carried negative equity of €65,000. This brings the total loan to €380,000, making the new LTV ratio just 109pc.

Most banks limit the overall LTV (see table) and possibly the mortgage term and amount too. If you are coming off a tracker mortgage they may or may not let you keep it, sometimes with added interest, so cost the new repayments fully. All other requirements are the same.

The table shows current interest rates for new business, based on a €200,000 mortgage over 30 years with an 80pc LTV, along with negative equity mortgages.

Independent: Planning to buy a house? Here's how to get the cheapest mortgage

When Is The Right Time To Reduce The Price Of Your Property?

Every homeowner must set an asking price when listing their home on the market, but what happens when you don't receive any offers?  Just as it's important to know when it's time to sell, it's important to recognise the right time to reduce the price.

Supply & Demand

If a lot of homes are currently listed on the market or your home is overpriced, it may be time to consider a price reduction if you hope to stay competitive.  If five different stores sold your favourite furniture, what would motivate you to buy from one over the others?  If you are like most, the cost would be a leading factor.  The same is true with home buyers, who are looking to get the best value for their money.

Hurry Up & Wait

If your home has been listed on the market for what is considered to be a lengthy time for your area, it may be time to consider a price reduction.  This is especially true if you are in a hurry to sell, which may be the case if you are planning to purchase another house upon selling yours.  In some cases, a homeowner will make an offer on another house and that offer will be contingent upon selling their current home.  When this happens, the homeowner is likely to be in a hurry to sell so that they can honour the terms of their new agreement before it expires.  Selling a property can often be a waiting game, but sometimes it may be necessary to hurry up the process, through a price reduction, if you need to complete the sale.

Market Value Fluctuations

We all know how the market fluctuates.  If you own property you already know values can go up one year and go down the next.  If your house is currently listed and the property values have fallen, you may want to consider reducing the price in order to remain in the running with potential home buyers.  If your house is priced far above market value, most mortgage institutions would refuse to approve a loan for your asking price.  Getting a realistic valuation would be the best way to know how much your home is worth.

Recommendations

If you've already appointed an estate agent you will obviously trust him/her to guide you through the process of selling your home.  If your estate agent suggests a price reduction, it may be in your best interest to consider it.  Nobody knows the business like a professional working on a daily basis in the property market.  They know what buyers want and, in most cases, what they are willing to pay.  If you've trusted an estate agent enough to appoint them, trust them enough to value their opinion.  If not then approach an estate agent who specialises in the area where your property is located and get a second opinion on the advice.

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How Big A Back Garden Do You Need?

You probably have spent a good deal of time considering how much space you need inside your home, but what about how much space you need on the outside of it?  House hunting with an idea of the square footage you are seeking is a good idea, but in addition to that you should have an idea of how much space you will need around your new home as well.

Buying a home with a large back garden can be costly, especially in sought after areas where this may be considered a major selling point.  But if your back garden is really important to you, it might be worth the extra expense.  Consider how often you use your back garden or decking and then decide how large you need your outdoor space to be.

How You Use Your Additional Outside Space

If you don't use your outdoor space much beyond sitting on the patio and enjoying the weather, you probably don't need a huge garden or deck.  Granted, the feeling of space and privacy is nice, but if it makes your dream home unaffordable, is it really worth it?

On the other hand, if you have children or pets, you may need that extra space.  With young kids, you will want to have a good place for them to play outside.  If you have big dogs, you will need the room for them to run around and get exercise.  A good sized garden deck or yard is a requirement for most families with children and pets.

If you like to host a lot of barbeques, you will want enough space for everyone to spread out with a decent sized deck or patio.  In this case the size of the entertainment area is more important than the green space.

Consider The Work Involved

The bigger your back garden, deck, or yard, the more work you will have to do in order to keep it in good shape.  A large lawn means more hours spent cutting the grass, and large gardens mean more time spent weeding and planting.  If you can't do the work yourself because you are too busy, you will probably have to consider hiring someone to maintain it for you.  This can be expensive, especially for if its really large.

Everyone thinks they want a nice garden, but it is important to be realistic about what you need and weigh it against the work and cost involved.

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Can Changing A Bathroom Increase Your Home's Value?

When you are planning to sell your home, remodeling a bathroom may be one of the best places to increase your home's value.  Depending on the existing condition as well as the style and age of your home, here are a few things to consider before tearing out that sink!

Does The Bathroom Age The House?

It could be a pink toilet or patterned tiles, but if your answer to this is yes, then maybe remodeling can really make a difference.  Prospective buyers will look at this space as a liability rather than a feature, and this can decrease the value of your home.  It may also scare away buyers who are looking for a home that is in move-in condition.  The trick is to keep the new design modern, but timeless.  The white toilet will likely always be in style, and tiles made of natural or neutral materials will keep the space fresh.

Do The Features Match The Price?

Depending on the location of your home and the value of the property itself, it is important to match the features of the bathroom to the rest of the home in order to get the most value out of our investment.  Large homes with big price tags benefit from the bells and whistles of a large bathroom boasting a jacuzzi for instance, but you will likely not get your money back for this in a smaller home which attracts first-time buyers or those looking to down-size.

Does The Design Match The Home?

While you may love the look of the minimalist bathroom, if you own a period home in an old neighborhood, making this decision could cost you in the long term.  While you can get creative in designing a new space, keeping the style of the bathroom in the same overall style of the house will make potential buyers more likely to appreciate the investment you have put into the property.

Ultimately whenever making a decision to redesign a room in your home, the change has to work for you and your family.  Though you may not get back the investment of installing that Jacuzzi, if it is what you want then go for it!  Balancing these tips with your personal taste and needs can make any interior design a more pleasant experience.

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How To Price Your Home To Sell

In addition to location and condition, the asking price of a home is at the top of the list of important considerations.  When a potential buyer is looking for a property, they want to get the best possible value for their money.  This doesn't mean that a home should be priced too low, but it does mean that knowing how to price your home is a must.

Find Out What The Real Value Is

Regardless of whether you are in a buyer's market or seller's market, it's important for every vendor to know the actual value of their home with the help of an appraisal.  With this information, you will be able to choose a listing price and a strategy on how to achieve the home's value.  At the same time, you will know how to react to various offers that a potential buyer may make.  If you can select a price that is affordable to a range of buyers, you may receive multiple offers thereby sparking a possible competition among the interested parties.

Drill Down Into The Factors Affecting Price

A combination of factors including  recent selling prices for comparable homes in the area known as “comps” will enable your estate agent to give you the best advice on what asking price to set.  Other important factors include the year of construction, the square footage, extensions to the property, interior and exterior upgrades and additional features that make the home unique. 

Set A Realistic Timetable

In researching the sale price for other comparable homes in the area, you should also note the anticipated length of time your home will be on the market.  Some homes practically sell overnight, while others may remain on the market for months without being sold.  If you want to sell your home quickly, you should consider this when setting a price.  A bargain will obviously move quicker, but it's important to make enough from the sale to feel good about your choice.  If you aren't in a hurry to close, talk with your estate agent about a fair starting price that's at or near the appraised value of your home.

Ask Your Estate Agent For Advice About Your Purchase Too

While you hold the key, so to speak, to your house's actual asking price, most sellers will ask their estate agent for their opinion about their own purchase as well.  After all, property is their business and they will be working with you through every step of the process on both property transactions.  Be sure to choose an estate agent that will advise you on both and give consideration to the advice they offer. 

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The Best Way To Find Your Perfect Home

As the old saying goes, it’s all about location, location, location.  But, there is a lot more to it than just plain geography when it comes to finding your perfect home.  There are a lot of things to consider during the search because, for most, a home is the most significant purchase they will ever make.

Choose A Good Area

When searching for your perfect home, the obvious place to start is with the selection of a location.  If you have children, you may want to choose a home that is close to good schools and is also located close to amenities.  Transport links are very important so in Dublin for instance easy access to the M50, Dart, Luas and Arrow are advisable.  Many people also look for a home that offers a short commute to and from work.  If you are shopping within a specific price range, you can also narrow the choices by finding an area that offers the best value for your money.

 Decide Your Priorities

The perfect home for you is one that has all of the elements that you want. Whether it's a sunny back garden, a large kitchen, an extra bedroom, attic conversion etc , choosing the style of home that you want is an important first step in finding the perfect place to hang your hat.  You may also want to consider whether you prefer a single-level or two-story home.  Many home buyers also factor in the potential to extend in the future as a vital factor in their selection.

Get Mortgage Approval In Principle 

Now that you know what you want and where you want it, it's important to find out how much you can afford.  Your lender will request specific information relating to your income and expenditures and will offer a possible price range for you to keep in mind.  After an initial conversation with your broker, bank, or building society you will have as a good indication of what budget you have to spend.

Enjoy The Process

In conclusion, you should know that the search for your perfect home is a journey.  It may be either long or short and with or without some bumps along the way, but the greatest satisfaction will be at the journey's end and your future's beginning. 

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Top Tips To Make Your Move Easier

We all know that moving can be a stressful time, however, there are several things that you can do to make your move a smooth one.  If you know that you're moving ahead of time, it's a good idea to start packing as early as possible.  Remember, Rome wasn't built in a day and, unless you have to be out in a hurry, it's better to take your time and remember every little detail now than to find yourself with the moving blues later.

A Little Goes A Long Way

If at all possible, pace yourself when packing.  It's better to pack a little at a time and make sure that nothing is forgotten than to hurry and try to get everything done within a day or two. 

Utilities

It's easy to forget to have your address changed, the landline disconnected, internet, water and/or cable service changed, so take the time to make sure every little detail is ironed out now so that you can enjoy your new home later.

Create A Packing List

It will help you to remember things much easier by writing them down on paper as they come to mind.  A packing list can act as a shopping list, which will remind you of the things that you need to remember.

Pack Lightly

Moving day is hard enough, so don't make it any worse by loading down your arms with too much weight.  If you pack lightly, it may cost you a little more footwork, but your body will thank you at the end of the day.

Pack Smart

Because of their design, boxes are easier to carry and provide an effective way to keep everything stored safely in its place.  Rather than just piling everything into the car or van and hoping for the best, take the time to pack everything carefully (especially breakables) inside cardboard boxes with bubble wrap.  What will not fit, such as items of furniture and other household essentials, should always be tied down when they are put into the removals van.  Furniture pads are also a good idea to prevent damage during the move.  Make sure you label each box with the contents of each box along with the room it will go into.  This will make unpacking more efficient and save you loads of time.

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How To Solve The First Time Buyer Mortgage Maze !

For first time buyers the mortgage process can seem complex and confusing.  On top of everything else you need to figure out interest rates, loan terms, fixed versus adjustable rate mortgages and much more.  In order to simplify and streamline the process it is best to do some research before you go and apply for a mortgage. Recommendations and endorsements in any sphere of life are always a good way to start so do your homework. There are a vast amount of financial institutions offering a vast array of mortgage products so contrast and compare.

Be In The Know 

You will need to have some cash in the bank before you can buy a home and many first time home buyers are surprised at the amount.  There are other financial factors to be taken into account not just your savings record.  Of course proof of your ability to save and thus in the future repay your mortgage is important but this only one component. Check your credit history i.e. repayments of previous loans to make sure that there are no issues from the past.  Financial institutions will take into account your current earnings but also into consideration what effect any change in your personal circumstances may have on your repayment capacity.

Plan For Out Of Pocket Expenses 

Once you have selected your chosen property and successfully gone sale agreed other additional costs will include a solicitor to handle the conveyancing on your behalf.  In most cases a structural survey will have to be carried out on the property by a Quantity Surveyor or Architect which you will have to pay for.  An independent valuation on behalf of the lending institution you are getting your mortgage through is obligatory and the fee involved has to be paid by you too.

So don’t forget the additional costs that can sometimes be overlooked and then cause a lot of stress. Moving of furniture budgeted in advance will make your closing date when you will finally get the keys of your new home a day to enjoy.  To avoid  stress plan well in advance and have the additional kitty close at hand so that your home purchase will be one of the best days of your life.

Enjoy The Experience

When it comes to buying your first home it can be a very exciting as well as a nerve wrecking time. By doing your research and preparing yourself for the process you can ensure it goes more smoothly and ensure you do not run into any nasty surprises.  Once you get that mortgage approval in principle letter from your chosen lender you can then start the fun part of searching for your first home!

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How To Present Your Property In The Best Light !

Whether it is a romantic dining room or a home office finding the right lighting for each space in your home is essential in making it functional and inviting.

So what should you consider when choosing lamps or lighting fixtures to ensure that they will provide the right kind of light while still fitting in with the décor of the room?

Function Before Fashion  

Naturally you want your lighting choices to match and complement the décor of your home. If they are not the right functional choice for the space your initial infatuation with them will likely fade.

For work spaces such as kitchens be sure your lighting will provide ample brightness while also being easy on the eyes.  For rooms such as the living room or dining room you'll want to consider lighting sources that are adjustable to allow for relaxation and a romantic atmosphere.  It is important to remember that these areas will also be used for work and play so they should also provide adequate light.  Be sure to consider the financial and environmental impact of the type of lighting you use. Using energy efficient bulbs and dimmers can reduce your carbon footprint and your electricity bill.

Size Matters!

If you have a small dining room then choosing that large ballroom sized chandelier you fell in love with may not be the best idea.  Recessed lighting for a large foyer while functional can make the space feel cold and uninspired.  Always make sure that the fixtures or lamps you choose are proportional to the space as this will make the room look well designed.

Using Light As Decoration

While choosing lighting requires balancing form and function lighting can also be a great way to highlight existing features in a room.  Whether it is a painting or mirror over the mantelpiece or a unique feature using lighting to highlight them can add a finished and dramatic look to any room.

Lighting can really make the difference and all the hard work you put into choosing it will compliment the other décor elements.  It will be well worth the time and effort to truly finish off your property and make it look spectacular!

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How To Make More Space !

If you live in a small home you may face some particular decorating challenges. Getting comfort and style while reducing clutter can be done with a few smart furniture choices and a good understanding of colours.

Keep It Light And Bright 

Dark colours always make a room look smaller so stick to lighter shades for small rooms.  If you absolutely love deep red or chocolate brown there is no reason why you cannot make it a part of your room.  However maybe use it on one wall rather than throughout so that is may be presented as a feature.  Try to choose lighter tones for the flooring and the largest pieces of furniture in the room.

Darker more vibrant colours are perfect for things such as cushions , vases and other decorative pieces.  They will bring those richer colours into the space without overwhelming it and making it feel dark and cramped.

Choose Furniture Carefully 

Save space by making your furniture multi task for you.  Look for coffee and end tables that include storage for books, remote controls, and magazines.  Choose furniture that provides hidden storage where you can stash extra blankets and other items.  If you occasionally need a larger dining room table, pick one with a butterfly leaf that can easily be tucked away when not in use.

Look for an all-in-one entertainment unit for your television and components that will allow you to tuck things away out of sight to prevent clutter.  A unit that includes storage for DVDs and CDs provides even more use but watch out that the piece is not so large as to dwarf the room.

Walls And Windows Are Important Too

Putting too much on the walls contributes to the feeling of clutter.  So it is best to keep it simple and only showcase a few favourite paintings.  It is recommended not to have to many family photos on view and don't hang too many photos in one place.

If possible choose sheer or semi-sheer window coverings in light colours to allow more light into the room.  Dark heavy curtains will contribute to the small and claustrophobic feeling small spaces can too easily have.

Small spaces can be just as elegant as large ones and feel a lot bigger than they are if you make smart decorating choices.  Make the best use of all your square footage and keep it light and airy for the best results.

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Declutter Your Home In Ten Easy Steps

Step # 1: Set A Schedule

You are much more likely to stick to a routine, whatever it may be, if you work on a schedule.  In addition, this allows you to clean when you can minimize interruptions and maximize your time.

Step # 2: Set A Goal For Each Room

If you can visualize what you want, you will be better able to achieve it.  By setting goals for each room, you can note the things that need changing and work toward that goal one day at a time.

Step # 3: Create A Timeline

When do you hope to have your home completely free of clutter?  One week, two weeks or even a month?  Depending on your schedule and the amount of clutter that you have, it may take anywhere from a few days to a few weeks before you can kick back and relax again.

Step # 4: Start Small

The clutter in your home didn't appear overnight, and it won't disappear overnight either.  If you start small, you will be less likely to get frustrated and give up midway through your clean up.

Step # 5: Categorize Your Clutter

When cleaning, it's important to categorize your items into groups.  By separating the items that you want to keep, dispose of and donate, you will be able to move through your clutter quickly and efficiently.

Step # 6: Letting Go

A good rule of thumb for uncluttering your home is to get rid of anything that you haven't used within the past year.  If it's still useful, consider donating it to a good cause.  Otherwise, dispose of it.

Step # 7: Storing Your Clothing

When storing seasonal clothing, purchase a sturdy plastic storage bin with a lid and roll your clothes instead of folding them in an effort to maximize storage capability. 

Step # 8: Wardrobe Organization

Did you know that your choice of clothes hangers can greatly impact the storage capacity of your closet?  Wire hangers take up less space and can save your shirts from getting that annoying shoulder bump that often arises from the use of plastic hangers.

Step # 9: Shoes Blues

·         When it comes to storing shoes, many homeowners are fighting a losing battle with clutter.  How many pairs of shoes do you own?  How neatly are they stored?  If your shoe storage has you down, try purchasing clear lidded shoe boxes.  These handy creations can house each pair of shoes and can be stacked neatly in your closet.  And best of all, you can see your shoe collection without having to sift through a sea of sandals.

Step # 10: Read The Labels

If you have medicine, food or anything else with an expiration date in the home, check to make sure that the items are still good.  If the expiration date has already come and gone, throw them away. 

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How to decide if now is the right time to buy a home?

Buying A Home Versus Renting A Home

When it comes to a home you have two options whether to buy or rent.  What is right for one person may not be right for another, which is why it's important to know which is the best option for your individual situation. 

Why Some People Choose To Rent

There are various reasons why someone may either choose or be forced to rent.  Their income may be unpredictable, or they may have to relocate for work on a regular basis. They may be unable to save enough money for the down payment required to buy a home.

Maintenance Matters

Another consideration when choosing whether to rent or buy is maintenance and repair issues.  When you rent, the property owner is responsible for repairs and it may not always be obvious that these issues can be costly.

How To Know When It's Time To Buy

If you have steady employment and income, a good credit history and proof of adequate savings it may be time to consider buying a home instead of renting.  In many cases, the cost of rent can exceed that of a typical mortgage payment. When thinking about buying, job stability is a big factor you may want to consider before making the decision to make a purchase.

Home Buyer's Checklist 

In addition to any current monthly outgoings can you afford a monthly mortgage payment as well as property taxes and insurance?

Do you have the necessary time at present to devote to shopping for a home and comparing interest rates from various lenders to get the best mortgage for you?

The Final Decision

The final decision to buy or rent is a very personal one that can only be determined after a careful evaluation of your situation.  An estate agent can show you the perfect home and a lender can tell you whether or not you can afford it, but it's up to you to make the choice as to whether or not you are ready to make that move. 

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Why Open House Viewings Are So Popular With Purchasers

An open house can be a great tool for showing your house and getting it sale agreed.  On the other hand, it may take work to prepare for one but the benefits by far outweigh the effort.  It requires that you be out of your house for only a short while usually an hour at most.  It also guarantees you will get a lot of people in the door some serious some maybe not, however those attending have shown interest in your property so by no means is it a wasted effort. 

So how often should you hold an open house when your home is on the market?

The frequency depends on a few factors as an open house will bring in people who otherwise might not have made an appointment to see your home. These are people who may not have known the house was of interest to them until they saw it in person.  Home hunters often spend a day at weekends going to various open houses, and might add a home to their list that wouldn't otherwise be of interest. When you leave enough time in between each open house, you allow for new buyers to come into the market and bring a new crop of people each time.

Is The Effort Worth The Benefit?

Getting your home ready prior to an open house viewing takes some effort.  You will need to make sure everything is clean and all the clutter is hidden away.  Even if you are keeping your home show ready as much as possible it will require some extra work. In the initial stages an open house is a good strategy to promote your property and generate immediate interest.  The longer your house is on the market it may be a combination of single viewings and open house viewings at weekends.  Presentation is key so any time you spend will assist you in getting the best possible price.

Which Day To Hold An Open House Viewing On?

Ensure that the agent you appoint is prepared to do open house viewings at weekends and ideally confirm that they will do Sundays as well.  So many people are working long hours nowadays that in a lot of cases the only day that most couples have off work to view together is a Sunday.  Also request that viewings are not just done early morning but also in the afternoons which is often more convenient for people with children.

How Important Are Single Viewings?

If you have a lot of prospective buyers making appointments to see the house you may not need to hold single viewings that often.  If you aren't getting a lot of requests to view then any enquiries submitted have to be taken very seriously.  Arranging an appointment to view from the interested party is imperative so a single viewing may be the best option. The longer you have been on the market the more useful a single viewing may be especially as a second viewing by someone who has already seen the property at an open house viewing.

Of course, your estate agent will help you to select the right timing and frequency of your open houses based on the interest in your property and the market in your area.

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