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What to Look for When Buying a Condo
Whether you’re a first-time homebuyer, looking to downsize, or want to save money, you may want to consider purchasing a condo. If you’re looking to live in a home with less maintenance, but still want to have some kind of ownership, a condo is a great option. With that, here are some factors to think about when you start your search.
When moving into a condo, you have to remember you may not have as much space as you would in a standard house. There’s also a possibility you won’t have a garage or attic. However, some condos will provide you with storage space, so as you look at different properties, ask the seller or representing real-estate agent if the complex offers residents any space in which to store extra belongings. You don’t want to move with all of your stuff and not have enough room for it, so before you make your final choice, just be sure your most important belongings will fit. If you need to, maybe sell some stuff you don’t use anymore so you have more space in your condo for what you actually need.
You’ll also want to see if the walls between units are thick enough that you won’t be bothered by any noise coming from next door. Having lived in a college dorm, I know how annoying it can get to be able to hear any yelling or loud music coming from the resident right next to you or directly across the hall. If you want don’t want to risk losing your sanity as a condo owner, ask the seller or agent if the walls are soundproof. You have to know if your condo has walls that are thick enough to block out any unwanted noise. This way, you’ll have better knowledge of whether or not you’ll be content with your neighbors.
It’s also important to choose a condo complex that has a wonderful management team. When you visit each complex, take some time to interview the manager and ask them any questions you may have, and also talk to some of the residents to see if they’re happy with the method in which the day-to-day operations are run. Having competent management is essential in confirming the rules of the complex will be enforced, so as to ensure the residents will live pleasant lifestyles. Think of your management team as the equivalent of an RA (resident advisor) in a college dorm. They are there to make sure the community is being taken care of and that its residents are happy.
Speaking of rules and bylaws, you should take a good look at them to make sure they help in offering the kind of living you’re looking for. If you have a pet who will be moving with you, you have to see that the complex allows this for their occupants. You’ll also have to make sure your pet will be happy in a condo environment, such as having enough room to play and run around. If you think you would like to create a little garden on your front lawn, especially with the weather becoming warmer, that’s something you’ll also have to consult the rules and bylaws for as well. In terms of renovating, you don’t always get to decide how you want your condo to appear. If you wish to make any major renovations to your condo, you may have to bring it up with the board or condo association to see if they will approve of your plans, whether they be interior or exterior. If you’re the type of person who likes to make significant changes to your residence every now and then, you may not want to go for a condo.
You have to realize living in a condominium complex is a very social environment. Therefore, you have to make sure your neighbors are welcoming, seeing as these are the people with whom you’ll be living in close proximity. You should do this to make sure the community actually provides a sense of community and that you’ll be able to make friends in your development. Don’t just move to a condo because it offers a comfortable home; move there because you know you’ll connect with those you meet. You want to surround yourself with people who you would invite over for parties or game nights, people who will become sort of an extended family.
Condos also offer a great sense of convenience. If you’re someone who wants to live close to your workplace and local stores, condos are often built in close distance to them, so you won’t have to spend much time in getting to them. And, if you’re next to your town’s shopping and business districts, you can bet it will never get boring, as there will always be activity and liveliness throughout the town. There are also several amenities a condo may provide, such as a playground, tennis court, and pool. Having these features will help you stay active during your residency at the complex, and will also encourage you to meet other individuals in your complex as you spend time outside.
As you look at different complexes, it wouldn’t hurt to ask to see the minutes of the association’s latest board meetings, if available. Doing so will bring you in the loop of any issues that may be experienced within the condo community, such as problematic neighbors, boisterous parties, or trespassing. Having an idea of what goes on in the complex will allow you to sort out the details of the environment and determine if you would like to become a resident in this development, or if you would like to look elsewhere.
Although a condo may be easier than a house in terms of maintenance, there are still many important factors you should consider when looking to purchase a condo. The environment of one may be different from others, so take a close look at the lifestyles of each complex and figure out in which one you can picture yourself living. Once you find the condo that’s perfect for you, you can start enjoying everything the development has to offer!
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
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Mistakes to Avoid When Making a Move
Making a move is a task that many of us undertake in our lives. The thought of moving may seem like a difficult and emotional process, but it’s something that you will always remember as a transition from one part of your life to the next. You can make this time of you life a lot less stressful when you know the mistakes you should avoid. With everything that goes into getting ready for a move, it’s easy to have a misstep or two. But, we’re going to give you a heads-up of the mistakes to sidestep on your move.
Taking EVERYTHING with You: Before you move, you need to have a thorough look at what you’re actually going to take with you. This means going through all of your belongings and figuring out what you don’t use anymore. You’re going to need as much room in the movers’ truck as possible, so having any space taken up by stuff you don’t need is going to be a waste. Moving all of those unneeded possessions, only to toss them away when you get to your new house, is not going to be a good use of your time. Get rid of your unwanted items through a yard sale, donations, or simply discarding them if you know nobody will get any use out of them, and then focus on bringing only the stuff you know will be used in your new home.
“One of the best things you can do is purge all of your unwanted junk that’s collected in your house over the years,” said Yvonne Regan, Relocation Director for Better Homes and Gardens Rand Realty. “I would recommend you do this a few months in advance of the pack and load date. Most experts will say if something hasn’t been used in about a year and it’s not sentimental, get rid of it. This clean-out can be very liberating and cost effective. Your household-goods weight load will be less, saving you money with the movers, and of course, less items will mean less boxes and packing supplies. And, if you were to hold a yard sale and possibly sell these items, you can even make some money to help defray some of the cost of moving.”
Using Old Boxes: As you’re packing your stuff away, it’s understandable you’ll want to use some boxes you have around the house, instead of spending money on new ones. However, it would be in your best interest to forgo boxes you’ve stored around the house and purchase unused ones. Any boxes you have around the house are probably dusty and not as strong after having other possessions stored in them. You don’t want to be carrying a box packed with your belongings, only to have them fall through the bottom and possibly break the items or hurt yourself. For any items that are very breakable, make sure to have enough bubble wrap in which to encase them before you place them in a box. With multiple items in any box, you don’t want them hitting against each other and causing damage. After the bubble wrap serves its purpose, you can embrace your inner child and pop the bubbles!
Choosing a Moving Company at the Last Minute: When preparing yourself for a move, you have to take into consideration that the late spring and summer are typically the busy season for moving, especially because you have families with children who want to move to their new home before the start of the next school year. A lot of the best moving companies get filled up with appointments early, so as soon as you know the date, call the moving company to book your move. If you wait until the last minute, you run the risk of not getting an appointment when you need it, and then you’ll probably have to resort to a lesser company.
“Moving companies get extremely busy at certain points of the year,” said Regan. “The moving season really heats up in the summer from May through Labor Day, and the moving companies can be booked solid. You have corporate transferees and families moving to settle in before the school year starts, as well as government and military personnel moves. I recommend you book with the moving company way in advance. Or, if you’re moving on your own, reserve your rental truck as soon as possible. Targeting mid-week or in the middle of the month may be best in terms of availability. If there are any delays or changes in your moving date, contact the company right away.”
Forgetting to Ask for an Estimate: Before you choose the moving company you would like to work with, it’s important you first receive an estimate, especially because there are two kinds that are offered: binding and non-binding. A non-binding estimate provides you with an idea of how much the move is going to cost, based on how far you’re moving and the mover’s estimates of your contents and the size of your house. The estimate is given in writing, and you can only be charged 10 percent more than the original estimate. With a binding estimate, you have a legal document that explains all of the charges, which can’t be changed unless you ask for add-on services, such as the movers having to climb multiple flights of stairs they didn’t have previous knowledge about. Prior to making your final decision, it’s recommended you receive at least three estimates, and also ask about any hidden fees. If you’re already spending money on the move, you certainly don’t want to be hit with any unexpected expenses. But, don’t be afraid to spend extra money on a reputable mover because if you find a moving company that charges significantly less than others, it’s probably safe to say they don’t offer top service.
Not Asking Your Moving Company If They Have Insurance: You also can’t forget to check that your moving company has insurance. Once you get to your new house, you don’t want to have any problems arise when you’re so close to finally settling in, so if a mover accidentally damages any valuable items upon the move, you want to make sure the company will be able to pay for them. If your moving company has insurance, I guarantee it will allow you to relax more. After you look into the insurance details of your movers, review your home insurance to make sure it covers your possessions as they move from one residence to another. If you need it, moving companies provide customers with deals on any extra insurance you may want. Lastly, you should inquire if your mover has insurance for workers’ compensation. If you have a small moving company helping you out, which typically has less than five employees, there’s a chance they won’t offer this, which means you’ll have to pay for an injury if a mover gets hurt. In the end, find out as much as you can about the moving company’s insurance, and use that as one of the deciding factors as to which company you choose.
Not Checking Out the School District: If you have children, you’ll want to see if the area to which you’re moving has a school district you approve of. Then, if you like it, you have to make sure it has openings, as you don’t want to move to a new neighborhood and have your children be without a school. Once you pick a district you prefer, keep in contact with them to make sure everything is in order for your child to attend come September. A school may be one of the last things on your child’s mind (I should know, as I was young once), but it should be one of the first things on yours. You want your child to have a bright future, and that begins with finding the right school.
Thinking Your Belongings Will Arrive When You Do: This is a mistake to avoid if you’re moving to a whole other part of the country. Don’t assume the movers will be at your doorstep waiting for you when you get there. If you’re relocating a long distance away from your old home and you arrive at your new home well before the movers, it’s best to have an emergency kit on hand that has enough essentials to get you through a few days. You should include toothpaste, toothbrushes, soap, shampoo, extra clothes, and anything else you think you may need to tide you over until the rest of your belongings arrive. It’s an inconvenience to have to wear the same outfit two days in a row, so imagine what it will be like having to do so for longer than that.
Packing Your Tools and Work Gloves Where You Can’t Get to Them: During your move, make sure you have your work gloves and tools easily accessible, instead of having them buried in a box. You won’t only need them for opening boxes, but you may have to remove a door from it’s hinges if you need to get a sizable piece of furniture through. When you arrive to your new home, you want to get all of your belongings inside as quickly as possible, so you don’t want to waste time searching for your tools if they are buried beneath everything else. Having them at the ready will allow you to quickly and efficiently unhinge any doors if necessary.
Not Hiring a Real-Estate Agent: One last mistake to avoid is not using an agent. Having the help of an agent will make the moving process a lot simpler. They have been through hundreds of these cases before, so they will be able to provide you with the information you will need in order to make sure everything goes according to plan during your move. With everything you have to think about when planning a move, it wouldn’t hurt to have some professional help at your side to give you advice. It will help you relax and will give you more assurance that everything will work out.
There’s a lot that goes into planning and making a move, and we know there’s much to remember. But, if you keep a clear head and an optimistic attitude, this task will be easier than anticipated. It’s all about time management, and the more time you allow yourself to prepare, the more focused and less worried you will be about not getting everything done. This is a part of your life that will lead to an exciting change in your life, so despite all of the work that goes into this endeavor, enjoy it!
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
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Tips for Single-Female Homebuyers
This Tuesday marked International Women’s Day, celebrating the achievements of women throughout the centuries. Because of this, we’re going to take the opportunity to discuss the growing presence single-female homebuyers have made in the current real-estate market. Over the last couple of years, more and more individuals in this demographic have been purchasing homes. According to a 2014 profile on homebuyers and sellers, done by the National Association of Realtors in 2015, single-women made up 16 percent of homebuyers, whereas single-male buyers constituted for only eight percent. It’s always exciting to read news of an emerging demographic in real estate, so we’ll take this time to provide some tips for single females who are thinking of buying a home.
Seeing as you’re going to be a single-income household, you must consider your finances before beginning your home search. You have to think about how much house you can afford, as well as paying for any repairs, renovations, taxes, and utility bills. By having an understanding of your budget, you won’t have to waste time looking at homes you won’t be able to pay for. Searching for a house requires a lot of time, so you certainly don’t want to use any of it looking at homes that won’t meet your financial requirements.
When searching for a new home, you have to make sure the community is safe. Maybe look into a property that’s part of a town with a neighborhood-watch program or in a gated residential area. As you do this, drive through the neighborhoods both at day and night so you can get an idea of what the area is like at these times. When looking at different neighborhoods, check to see how residents interact. If you see they are friendly towards one another and express a strong sense of support for each other, you know you’ll have a better chance at being safe in that neighborhood because the residents are outgoing and active.
If you’re a commuter who uses public transportation, not only should you make sure your new home will have a convenient route to where you need to go, but you should also see that it’s safe. When you can, ask a friend to accompany you as you test some of the area’s transportation to get a feel for the atmosphere on the train, bus, or whatever other mode of public transportation you may take. As you exit the train, bus, etc., take note of the amount of people who leave with you. Typically, the more people who get off at your stop, the safer your destination point will be because of how many others will be around you. It’s important to have your commuting route be every bit as safe as it is convenient.
Speaking of safety, it will also benefit you to get an alarm system. Even if your neighborhood is safe, some home security will provide you with peace of mind. Security systems are a wonderful feature for any house, and some extra safety can go a long way. Given how tech-savvy homes have become over the years, such a system won’t only protect your house against intruders, but will also offer video surveillance that will keep a very close eye on your house when you’re not at home. A security system such as that sounds too good to pass up.
As you look for a home, you should also do what you can to avoid unfair treatment by professionals, so whether you’re hiring a landscaper, a contractor, a plumber, or anyone else, make sure to seek out an expert in order to have someone with the best skills possible who will offer the right price. Being a single homebuyer, you have to make sure you stay on top of everything during the process. Whenever you hire someone to work on your home, it will benefit you to ask them for the contact information of some their former clients so you can reach out to them and ask for their opinions on the person’s work.
If you like to involve yourself in do-it-yourself projects, it may also help you to increase your skills in areas such as electrical, carpentry, and plumbing, which are offered at many vocational schools and community colleges. As a first-time homebuyer, it will help to know as much as you can about how to upkeep your home in order to have it in proper working order. Despite being in a new home, there are some things you may have to fix, and having these home skills at your disposal will certainly make your transition into a new home fairly easier.
You must realize that confidence is key, and you should use that confidence when you approach the housing market. Remember, single females is a growing demographic in real estate, so this is a great time to have your voice and opinions heard as to what you like best when you search for a home. As you begin to look around, know what you want and go for it. This is an exciting part of your life as you plan to invest in a property you love, so work hard and have fun with it.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
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How to Manage a Cross-Country Relocation
In the past, we’ve focused on things you should consider when planning to move. However, when you’re considering a move across the country, there are several other things you have to think about in order to be fully prepared for the transition. Obviously, moving cross-country is a bigger change than moving to the next state over or merely a few towns away. There’s a lot of planning involved and more factors to take into account to make sure everything goes smoothly. Here are some tips to assist you if you’re planning a cross-country move.
At the start of the process, you should ask for help from a professional as early as possible because they will be able to tell you exactly what you need to know as you go forward with preparing for your move.
“A realtor is a great resource and can provide you with a wealth of information about the price of homes in your area of interest and so much more,” said Yvonne Regan, Relocation Director for Better Homes and Gardens Rand Realty. “Our relocation department and agents at Rand Realty help our customers and clients find a qualified realtor anywhere in the country by utilizing our own broker network. Having a realtor in place before you visit an area is a key stress-reliever and timesaver. He or she can help you preview homes in your budget and put you in touch with other experts, such as mortgage lenders, home inspectors, school and city officials. They are the experts in their respective areas and can provide you with resources to help you in your home search.
“And, if you are planning to finance a purchase, I would also recommend you get pre-qualified by a mortgage lender,” said Regan. “This way, you know what your purchasing power is before you begin your home search. Knowing what you can afford will also help you narrow down your choices.”
When you’re planning a move, you have to figure out how you’re going to pack up all of your belongings. The level of difficulty for this task depends on how far away you plan to move. If you’re only moving a few miles away, or maybe even if you’re moving to the next state over, it will be rather easy to rent a moving truck and some movers, pack up your things, and be on your way. When you’re moving cross-country, however, it’s a little harder. The best thing to do is figure out the essentials you will be needing, but can still fit in the car; and then, you can sell everything else. This way, you don’t have to worry about renting a truck and moving crew to help you, which can cost quite a bit of money if you’re going cross-country. Then, when you arrive at your new home, you can purchase new furniture.
If you plan on bringing a lot more with you to your new home and end up renting a truck, you’ll be packing a lot of your belongings in boxes. Once you finally know what you’ll be bringing, begin taking inventory of your belongings. Given that there’s a lot going on during a preparation for a cross-country move, there’s a probability that some of your stuff may get misplaced. In order to prevent this, take stock in everything you have with you. That way, when it comes time to pack it all up, you know what you’re supposed to have. After you pack everything away, make sure to label your boxes. That way, when the boxes are taken into your new home, you will know in what rooms they should be placed, and you won’t have to waste time going through each box to know where the contents are supposed to go.
You may not have considered this when planning a move, but as you’re doing so, you can expect your calendar to fill up with appointments. Besides going for an appointment with your doctor and/or dentist, there’s the matter of catching up with your friends and family before moving. You don’t want to leave town without saying good-bye to them, so you’ll want to make sure you set aside some time on you calendar for them. I know it’s not like you won’t be seeing them again, but if you’re moving cross-country, you won’t be spending as much time with them, so you should spend time with your friends and family before you make the move.
Speaking of appointments, to-do lists are also important to have. There are so many things to keep track of when you’re planning a cross-country move, such as choosing what you’re going to take with you, hiring movers, forwarding mail, and updating business accounts (Updater, a web application Better Homes and Gardens Rand Realty now offers, can assist you with the latter two tasks). I remember to-do lists were a huge help when juggling academics and extracurriculars in college, and one of the great pleasures in life is crossing off tasks you go from day to day. With something as significant as a cross-country move, making a to-do list (or several) is really going to help you in keeping track of what needs to be done. When you consider how much work goes into a move as big as this, it will make this undertaking simpler if you write down all of the tasks that require attention before you get ready to step out the front door and begin your journey to your new destination. You’ll have so much going on during this process, there’s a chance an objective or two may slip your mind, so having a to-do list will help preventing such a risk.
Seeing as there’s so much to plan when coordinating a cross-country move, there’s the matter of giving yourself enough time to get all of the preparations done. In order to do this, it’s recommended you provide yourself with at least two months to get everything in order. There’s nothing more anxiety-inducing than waiting until the last minute to begin work on a time-consuming task, which I’m sure many of us have done one time or another. Makes you nervous to think about, doesn’t it? As soon as you know you’ll be making a cross-country move, start your planning immediately. Don’t procrastinate like you probably did with a term paper or two in college. Get everything you need to get done as soon as you can, and then if you think of anything near the last minute that needs to be done, you’ll have many of the other tasks out of the way at that point.
Moving cross-country is different for families, as opposed to an individual mover. Because of this, it’s important everyone in your family knows what’s going on with the transition.
“Moving is stressful for everyone in the family, including children,” said Regan. “My advice is to talk with your children about the move as far in advance as possible, and also be supportive and patient, as they will need time to adjust. Arrange to take the children on a tour of the new home and neighborhood as soon as possible. Show them all the recreational areas and fun things that the new area has to offer. Setting up playdates for your children and signing them up for sports teams or other fun activities will keep them busy and help them adjust more quickly.”
In conclusion of this blogpost, I’ll leave you with the last important piece of advice: stay calm. Yes, there’s a lot you have to get done when prepping for a cross-country move, but losing your sanity isn’t one of them. As long as you give yourself enough time for the task and have a clear idea of what needs to get done before you’re ready to drive off, you’re sure to have a smooth transition as you make your travels to your new home.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
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Presidential Homes in the Lower Hudson Valley
For those of you who live in the Lower Hudson Valley, you probably know the area has some rich bits of history ingrained in its land. Whether or not you’re a history buff, you can’t deny how interesting it is to live in a place where notable political figures have made their mark. To coincide with the recent President’s Day and ongoing presidential debates, here are some connections previous Commander in Chiefs have with the Lower Hudson Valley.
Seeing as George Washington was our first president, we’ll begin with him. If you visit 84 Liberty Street in Newburgh, NY in Orange County, you will find the location of Washington’s headquarters, a fieldstone farmhouse that has the distinction of being the first public historic site in the country. Washington resided in this house for 16 months following the end of the American Revolution, and while staying there, he created the Badge of Military Merit, which is the predecessor to the Purple Heart. The house is now a museum that overlooks the magnificent Hudson River and also includes the Tower of Victory, which was constructed in 1890 to overlook the river. The tower is meant to honor the centennial of Washington’s stay at the house. It’s a real privilege to be in close proximity to a piece of history involving one of our Founding Fathers, so if you have time to visit this museum, I highly suggest you do so.
If you find yourself traveling around Hyde Park, NY in Dutchess County, you should go to 4097 Albany Post Road and visit the Springwood estate, which was the birthplace, home, and final resting place of Franklin Delano Roosevelt, our 32nd president. He was once quoted saying, “All that is within me cries out to go back to my home on the Hudson River,” and it’s safe to say anyone can find a sense of tranquility when living in a home as beautiful as this one next to a river as historic and gorgeous as the Hudson. The property also includes a library and museum that will teach you about FDR’s 12-year presidency (this was before the enactment of the 22nd amendment, which limits a president to two terms). In 1943, Roosevelt donated his home to the American people; and following his passing in 1945, it was given to the National Parks Service. There was even a movie released in 2012 called “Hyde Park on Hudson,” which starred Bill Murray as FDR. Roosevelt also had the quaint and cozy Top Cottage, which he built in 1937 as a retreat and eventual retirement home, where he also had guests such as King George VI and Queen Elizabeth. Top Cottage also has the distinctions of being one of the first wheelchair-accessible homes and one of the only homes designed by a living president.
In 1927, our 35th president, John Fitzgerald Kennedy, moved from Brookline, Massachusetts to the Bronx, where his family spent two years before moving into a home in Westchester County at 294 Pondfield Road, Bronxville, NY when he was 12. He and his family lived there from May 1929 to January 1942. It was a 5.5-acre hillside estate called Crownlands, and it was a Georgian-style mansion with a white exterior and red roof, and it had a circular row of columns that added to the home’s stateliness. The house also had a grand white set of stairs that descended the hill on which the house was situated. This was certainly a home where you could imagine the great Jay Gatsby hosting a party. It was demolished in 1953 by a developer who found a use for the land, which back then was the largest piece of property in the village. With Kennedy being one of our most well-known presidents, you can’t deny how neat it is for him to have lived in an area so close to us.
No matter where you live, odds are there is some interesting history behind your surrounding area. Whether it be local history or history that has a bigger connection to national history, it’s always fun to learn the story behind where you live. In celebration of Presidents’ Day 2016 and the current presidential race, take the time to acknowledge the moments in our country’s history that have touched certain places in the Lower Hudson Valley and value the opportunity we have to live in a place that has ties to a few presidencies.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
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How to Buy a New-Construction Home
We’ve given you advice in the past about what to do when buying a home, and we hope you put that advice to excellent use since then. However, that was when we were dealing with homes that were being sold by people who resided in them before you started looking. Now, we will be focusing on brand new homes that haven’t yet had owners.
Note – This article deals with new-construction homes that are built as part of a housing development that has similar homes, rather than focusing on someone purchasing a plot of land and constructing their own home with an independent contractor.
When looking into purchasing a newly constructed home, you have to realize that some of the homes in the development may not be completed as quickly as others. Because of this, you may not have neighbors right away; but, more importantly, you should realize you’ll be living in the middle of the construction process as the rest of the development gets built. Keep in mind the construction will be during the day, so there won’t be much noise to contend with if you’re out of the house at that time. But, if you think you or someone else in your household will be home during the day and won’t be able to contend with the noise, you may want to wait until near the end of the construction process to look for a home in that development. However, there’s the possibility of receiving a better deal from the builder if you buy early into the construction phase, so if you’re able to handle a few drawbacks, you may want to go with this option.
When you’re preparing to purchase a newly constructed house or unit, there’s a high possibility you won’t get to see the actual property, but rather a prototype or model that has a similar floor plan to the home or unit you plan on buying. You have to realize that what you’re seeing may not be 100 percent of what the finished property will look like. Designers and developers often use techniques to make the model home look bigger than it will turn out to be, so go into your search knowing the finished homes may be a little smaller than what you saw in the model. Knowing this, you will have a better idea of what you will be able to fit in your house, and you won’t have to worry about lugging furniture into your home, and then realizing there isn’t enough space for it.
When the development is near completion, the builder will most likely put the model home on the market. If you want to wait until the end of construction to purchase a home, this will be the one to go for. Because this home served as the model that was showed to entice potential buyers, the property will already be outfitted with excellent features and upgrades, and you know the property’s size will meet your original expectations. In the end, I’m sure these factors will make waiting until the end of construction very worth it, if you decide to do so.
Buyers also should decide whether or not they want to be involved with the interior choices of their potential new home, while also considering the timeframe in which they want to move into their house.
“If the construction has already been completed, buyers will not have the option to choose style or amenities, such as tiles, fixtures, colors, etc.,” said June Stokes, New Jersey regional manager for Better Homes and Gardens Rand Realty. “If they want to be involved in choices and details, they should look for a home being marketed in the pre-construction stage. However, the buyers have to keep their timeframe in mind. If they are looking to buy a high-end home, the construction process could take six to nine months to complete. A smaller home, of course, would take less time, but that could still mean a six-month wait. If the buyers can’t wait and need to move in sooner, they should stay away from the pre-construction option and go for the house that is already complete.”
You also must take a look at the surrounding homes and neighborhoods. When choosing a home in a new development, you have the opportunity to pick the lot and location for your property; but, before you do so, you may want to take a few minutes to imagine what the rest of the neighborhood will look like when it’s completed. You have to consider factors such as the view you will have, how close your house will be to your other neighbors, and whether or not the development will be in close proximity to a questionable neighborhood. Use some time to explore the area both inside and outside of the development so you have a clearer vision as to what the space around your home will be like. Although inspecting the area inside the development may be a little difficult if there hasn’t yet been much construction, you should inquire with the developers and designers to see what you can expect.
Seeing as national builders want to meet their sales goals as the end of a quarter draws near, they will become more driven with their incentives in order to attract buyers. November and December will also be an excellent time to purchase a new-construction home because many people will be busy with their holiday preparations and won’t be able to focus on the housing market. By the time the spring arrives, a new development will most likely have many potential buyers visiting the homes, hoping to find one they like, so you’ll probably want to beat them to it. If you would like a great gift during the holidays and are eager to buy a home, this is certainly one of the best routes you can go.
When considering a new-construction home, there are several important factors you have to think about before you start the buying process. I know you’re picturing how nice it will be to live in a house where no one has ever lived before, but you also have to realize there’s a little more work you have to do to make sure you get what you’re looking for. If you’re willing to put in the extra time to see that your brand new house meets your needs and desires, you will definitely enjoy your home.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
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So What’s Going on in the Sussex County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Sussex County housing market surged in the fourth quarter, with a dramatic spike in sales that continued a yearlong trend of markedly higher transaction rates. Nevertheless, we are still not seeing these sustained levels of buyer demand have their expected impact on pricing.
Sales. Sussex sales were up sharply in the fourth quarter, rising almost 39% from last year and finishing the year up almost 18%. Indeed, Essex closings have now gone up in each of the last four years, during which sales have now increased by almost 80% from their 2011 levels at the bottom of the market. With sustained levels of buyer demand, the market is in much stronger shape than it has been at any time since the 2008-09 market correction.
Prices. This spike in sales, though, has not yet had an impact on pricing, which has actually deteriorated, even while buyer demand increased. Average and median sales prices were down for both the fourth quarter and the full calendar year, which was a little disappointing given the transactional strength in the market. Moreover, prices have been trending downward now for several years, in defiance of what we would expect from normal economic behavior. Generally, it takes time for increases in demand to drive pricing changes, so we believe this will turn around if buyer demand remains at its current levels.
Negotiability. The negotiability indicators – the amount of time sold homes were on the market, and the rate at which sellers were able to retain their full asking price – were mixed. The days-on-market fell dramatically in the quarter, dropping over 13% — and almost a full month! For the year, the market time was down as well, although not as significantly. But we didn’t see the same dynamic in the listing retention rate, which actually fell a bit for the quarter and was flat for the year. Generally, we expect that as buyer demand heats up, homes will sell more quickly and for closer to the asking price. We’re starting to see quicker sales, but nothing that would indicate that sellers are gaining leverage in their negotiations with buyers.
Going forward, we do expect better things for the Sussex market. We believe that buyer demand will stay strong through 2016, especially with a relatively strong economy, homes priced at attractive levels, and near-historically low interest rates. And if buyer demand stays at its current levels, we expect that Sussex will start to see some meaningful price appreciation by the end of the year.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
So What’s Going on in the Essex County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Essex County housing market closed the year with a modest increase in sales and some mixed results in pricing. For the year, sales were up fairly significantly, but we’re still not seeing any meaningful price appreciation.
Sales. Essex sales were up in the fourth quarter, rising over 4% from last year and finishing the year up almost 10%. Indeed, Essex closings have now gone up in each of the last four years, during which sales have now increased by over 50% from their 2011 levels at the bottom of the market. The market is in much stronger shape than it has been at any time since the 2008-09 market correction, with sustained levels of buyer demand.
Prices. This jump in sales, though, has not yet had an impact on pricing, which remains relatively flat over the past three years. We are seeing pricing about 8% higher than at the bottom of the market, but we haven’t seen any movement over the past three years, even while transactions went up. Generally, it takes time for increases in demand to drive pricing changes, so we believe it’s just a matter of time before we start to see meaningful price appreciation in Essex.
Negotiability. The negotiability indicators – the amount of time sold homes were on the market, and the rate at which sellers were able to retain their full asking price – were essentially flat. The days-on-market fell slightly in the quarter and for the year, indicating that homes were selling just a bit quicker, and the listing retention rate was up a little for both the quarter and the year, but neither indicator moved in a way that would dramatically affect the negotiating balance between buyers and sellers.
Going forward, we expect that buyer demand will stay strong through 2016. With a relatively strong economy, homes priced at attractive levels, and near-historically low interest rates, we believe that we will start to see some meaningful price appreciation by the end of the year.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
So What’s Going on in the Morris County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Morris County housing market sagged a bit in the fourth quarter, with only a modest increase in sales and basically flat prices. For the year, sales were up slightly, but we are still not seeing any meaningful price appreciation.
Sales. Morris County sales were essentially flat for the fourth quarter, rising 1.5% and finishing the year up 7.6%. This did mark the fifth straight quarter of year-on-year sales growth, and the market closed over 5,500 sales for the calendar year for the first time since the height of the seller’s market, so things are moving in the right direction. But compared to the other northern New Jersey county markets, Morris’s 2015 performance was relatively tepid.
Prices. Similarly, Morris pricing continued the trend of bouncing around a bit. For the quarter, the average price was up a tick and the median was down slightly. And for the year, the average was up and the median flat. That’s what we’ve basically seen over the last few years: prices up one quarter, down the next, the average up but the median down, etc. We’re not getting any clear read on where pricing in Morris is going, except that we remain confident if buyer demand continues to grow it will eventually start pushing prices up.
Negotiability. The negotiability indicators – the amount of time sold homes were on the market, and the rate at which sellers were able to retain their full asking price – were basically flat. The days-on-market rose slightly in the quarter and for the year, indicating that homes were taking just a little longer to sell. But sellers were getting slightly closer to the asking price, with the listing retention rate up a bit for both the quarter and the year. Again, like with sales and prices, the results were basically “meh” – no clear trend, no major movement one way or the other.
Going forward, despite the relatively lackluster results in 2015, we still believe Morris County is poised for serious growth. With homes still at historically affordable prices, interest rates low, and a generally improving economy, we expect that buyer demand will strengthen and drive more meaningful price appreciation in a robust spring market and throughout 2016.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
So What’s Going on in the Passaic County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Passaic County housing market closed strong in the fourth quarter of 2015, with solid increases in both sales and prices. As a result, Passaic finished its third straight year of meaningful price appreciation, clearly indicating that it is moving into a seller’s market.
Sales. Passaic sales continued to go up in the fourth quarter, rising almost 7% and finishing the year with a 13% increase off 2014 levels. Indeed, we’ve now seen sustained increases in buyer demand for over four years, with quarterly sales up in 17 out of the last 19 quarters. Moreover, the almost 3,000 sales for all of 2015 marked the highest calendar year total since 2006, at the height of the last seller’s market.
Prices. Although prices bounced around a little in 2015, they finished the year strong. In the fourth quarter, prices were up almost 5% on both the average and at the median. And even with the ups and downs throughout the year, Passaic still finished 2015 with a solid 2.1% increase in the average and 3.1% at the median, marking the third straight year of modest, but meaningful, price appreciation. Prices still have a long way to go to recover from the market correction of 2008-09, but they are moving in the right direction.
Negotiability. The negotiability indicators were mixed. The days-on-market were slightly up for both the quarter and the year, signaling that it was taking longer for homes to get sold. But the listing retention rate was also up, indicating that sellers were gaining some negotiating leverage with buyers, and were better able to command closer to their asking prices. As buyer demand continues to heat up, we would expect sellers to gain more negotiating power, leading to higher prices overall.
Going forward, we believe that Passaic’s fundamentals are sound, with homes priced at relatively attractive levels, rates near historic lows, and a stable economy. Accordingly, we expect that Passaic County will flower into a fully-realized seller’s market in 2016, marked by continued increases in both sales and prices.
To learn more about Better Homes and Gardens Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter.
