The Importance of a Home Warranty

A home warranty is one of the best forms of risk protection next to homeowners insurance. Once you become a homeowner, you’re investing in a property that requires proper care and upkeep. That’s why it is important to acquire a home warranty plan to help keep you prepared for unforeseen incidences and maintenance issues. So many homeowners save on out-of-pocket costs because they are covered by a home warranty plan. But what is it?

While home warranties and homeowners insurance both protect against unexpected circumstances, a home insurance policy covers any accidental damage to your home and belongings due to theft, storms, fires, and some natural disasters. Homeowners insurance will help repair any wreckage to your home or personal property that was stolen or damaged. This may also include liability coverage which can help cover legal and medical fees if someone is injured on your property.

Home warranties are not required but are highly suggested because it will provide coverage on expenses related to HVAC systems (heating, ventilation, and air conditioning), plumbing, and home appliance repairs or replacements. This is an annual renewable contract that provides assistance in repairing electrical issues, leaks, and faulty appliances or will replace systems in your home that are beyond repair if they break down, such as a dishwasher or washer and dryer.

For all of those who are currently a homeowner or potential homeowners, please make sure you have a home warranty. Negotiate that within your contract and if you already own a home continue to renew your home warranty policy because it will definitely save you money in the future.

To learn more make sure to check out our video on “The Importance of Home Warranties” or reach out to our trusted agent, Qulia Bryant for more realty tips! Call us: 833-704-HOME or find your dream home online!

Sources:

https://www.ahs.com/home-matters/cost-savers/whats-the-difference-homeowners-insurance-vs-home-warranty/

https://www.allstate.com/tr/home-insurance/home-insurance-vs-home-warranty.aspx

https://www.thebalance.com/home-insurance-vs-home-warranty-4135608

 

Should You Buy New Construction or an Existing Home?

As a future homeowner, the option to purchase a newly constructed or existing home may cause a bit of a dilemma. Although twice as many people prefer new homes to existing homes, there are still important factors to consider when deciding to purchase new construction versus and older property.

Regardless of whichever option you may choose, make sure that you speak with a lender first prior to beginning your search. This will help tremendously in determining your budget for a mortgage and the maximum purchase price that you can spend on a property. It is also wise and beneficial (at no cost to you) to reach out to a buyer’s agent who will understand your needs and be knowledgeable about the current market and negotiation practices.

Before you settle on a property, here are some of the pros and cons of buying a newly constructed house versus an existing home.

You can customize new construction. Personalize your future home with a unique design and all of the fixtures and amenities that you desire (including lighting, flooring, granite, stainless steel appliances, and a custom color palette). This will allow you to have modern features such as walk-in closets, spacious bathrooms, and an open, eat-in kitchen. You’ll also save on having to do repairs for a few years.

But your home may lack the charm, character, and history of an older home that is ready to move in. You’ll also have to regularly check-in with the builders to make sure the home is constructed according your standards. This can be especially stressful because you won’t know what the final product will look like until it is complete which will take months and can often be delayed due to weather conditions.

As one of the first people to move into a new neighborhood, you’ll be able to choose your lot. The downside is that newly constructed homes are generally situated on smaller lots than older homes, which can mean significantly smaller yard space between you and your future neighbors.

Speaking of neighbors, you may not have any for quite some time. New construction, means that your neighborhood is still being developed and often times these new homes are located farther away from shopping areas and entertainment.

An older home is already situated within an established neighborhood which can provide access to community recreation (pools, dog parks, gyms), local grocery stores, and well-known schools.

New construction may come with loan incentives. You may be offered a deal to pay your closing costs, down payments, and even moving expenses.

Some builders may even entice buyers with luxurious perks, such as a car or a getaway vacation. Remember you’re searching for a new home not free gifts. Make sure you’re communicating with your agent. In North Carolina, builders aren’t obligated to follow standard state contracts and can have their own drafted by an attorney which may result in a lesser chance of negotiation.

Consider some of these key points when contemplating your decision and do your research! Both options come with advantages and disadvantages, which differs depending on a buyer’s needs and budget. Furthermore, it is best to remember that your home is an investment. This will be a place where you want to create memories, enjoy your space, and love your neighborhood. To learn more, check out our video on The Pros and Cons of Buying New vs Existing Home!

If you’re thinking about buying a home and you don’t know where to start, Perfect House Realty is here for you! The team at Perfect House Realty are committed to helping buyers and sellers in the Charlotte, North Carolina area understand their options. Our dedicated and trusted agent, Qulia Bryant, will get the job done. Call us at 833-704-HOME or find your dream home online.

Sources:

https://www.daveramsey.com/blog/building-a-house

https://www.thebalance.com/new-home-builder-incentives-and-seller-concessions-1798323

https://www.forbes.com/sites/trulia/2014/06/20/the-pros-and-cons-of-buying-a-newly-built-home/#208c8d60405d



 

Location, Location, Location!

The search for your dream home can be an exciting, yet overwhelming experience. One of the key aspects of finding your perfect home is considering the location. Whether you’re hoping to live in a city, suburb, or rural area, there are important factors to keep in mind when determining your future place of residence.

Neighborhoods that stand out among others typically provide the lifestyle that buyers desire. They are often situated in areas that are accommodating and supply easy access to local recreation, shopping areas, education, and have high livable scores which are publicly available on sites such as areavibes.com and walkscore.com.

You may be more inclined to purchase a home in an area that is in walkable distance to your favorite beauty salon, grocery store, or has access to a community pool and parks, rather than a neighborhood that would require a longer commute to these niceties. The significance of these luxuries depends on your personal lifestyle and their proximity to the neighborhood where you choose to live.

Location also determines whether the value of your home will progress or regress.

The principle of progress estimates that the value of your home increases when found in close proximity to other high-valued properties in a desirable neighborhood. A modest or less expensive house in a pleasant neighborhood will increase in value when found among other nice and more expensive properties.

The principle of regress assumes that the value of your property will decrease when found among less-expensive homes in less-desirable neighborhoods. Investing in major remodeling or changes in a home that is situated in a neighborhood with less-expensive houses will bring the value of your home down.

Location and livability aren’t just factors that you should consider when purchasing a home. These features will also be important if you ever decide to sell your home in the future, since the community features and amenities will affect the resale value of your home. To learn more about finding the perfect location for your new home, check out our video on Popular Charlotte Neighborhoods.

Find Your Dream Home With Perfect House Realty

Home buying and selling can be an intimidating and complex process. The team at Perfect House Realty are committed to helping buyers and sellers in the Charlotte, North Carolina area understand their options. Call us at 833-704-HOME or find your dream home online.


Sources:

https://www.prepagent.com/article/principle-of-regression-progression

https://www.thetruthaboutrealty.com/factors-that-determine-real-estate-value/

https://study.com/academy/lesson/the-principle-of-progression-in-real-estate-definition-example.html