Should You Move to a Retirement Community After Selling Your Southern New Hampshire Home?

Parker Village, Merrimack

Your kids are grown and gone and without them your Southern New Hampshire home was simply too big and too much work.  So you sold it.  Now you’re asking yourself, “Should I buy a new Southern New Hampshire home in a retirement community?”

The answer depends on what's important to you. Do you crave the company of others? Would you use many of the amenities provided at the community?  If yes, then you might prefer the convenience of a retirement community. 

Many communities offer amenities to attract buyers, such as:

    * Golf courses
    * Swimming pools
    * On-site exercise facilities
    * Trails for hikes and biking
    * Clubs, associations, and various interest groups.

Other things you need to consider before making your decision are:

    * Do you meet the age requirements?  Most senior living communities have a minimum age restriction of 55 for at least one of the residents. Sometimes the age minimum is 60 or 62. If it is 62, then all occupants must be at least that age. Check resident restrictions before purchasing.

    * Do you have enough money in your budget?  Like condo ownership, there are usually Community Association fees that must be paid.  These fees pay for the shared facilities and community maintenance costs.  Make sure your budget covers all housing expenses including the mortgage payment, utilities and all community fees.  

    * Which type of retirement community best fits your needs?
          o Active Adult Communities. These are for those who live independently and have an active lifestyle.  By the way, I just listed a beautiful unit at Parker Village, a 55+ community in Merrimack.  Call me to schedule a showing of this practically brand new Merrimack condo!
          o Independent Living Retirement Communities.  If you can live at home, but still need some help, this type of community may be for you.
          o Continuing Care Communities. These communities have professionals that are able to care for your health needs.

If you’re looking for a new Southern New Hampshire home, whether in a retirement community or not, I can help you find a home that fits your lifestyle and budget.  Call me today at 603-821-1134 or email me at Dave@TeamHeeter.com. 

Southern New Hampshire Real Estate Investments: 4 Ways to Make Money

Now is a great time to get into the investment real estate market. Not only does investment property give you a real tangible asset for your portfolio, you can also get Southern New Hampshire real estate investments at great prices right now.

Here are four ways to make money from Southern New Hampshire real estate investments that you might want to consider.

    * Rental properties.  Not everyone enjoys owning rental property, but it is one of the most profitable ways to make money from real estate.  Rental properties give you a constant residual income that lasts as long as you keep the property.

    * Flipping. While the house flipping craze of the 80s and 90s cooled down with the current mortgage and housing crunch, for serious investors who take the time to know what they are doing, it is still a viable means of making money in real estate.  This is typically a shorter term method of real estate investing.

    * Rehabbing. Buying a house to live in while you fix it up and resell it is similar to flipping, except that most rehabbers take longer to renovate the home, and use it as their primary residence while doing the work. There are three reasons this is a more comfortable way to flip Southern New Hampshire real estate investments. First, you have a place to live and don't have to pay a mortgage on another property.  Second, you don't have to feel as pressured to sell in a short period of time the way you do a flip.  Third, you may receive all the homeowner benefits like tax breaks and no capital gain tax.

    * Subdivide. This form of investment requires a little advance preparation and investigation. When you discover a sizeable piece of land at a good price, find out if it is zoned so you can subdivide it.  If it is, you can profitably sell off individual parcels to those who want to build on it.

If you would like more information on ways to invest in real estate that makes sense for you, I can help. Contact me at 603-821-1134 or email me at Dave@TeamHeeter.com.

5 Steps to Rebuilding Your Credit After a Southern New Hampshire Foreclosure

When you go through a Southern New Hampshire foreclosure, your credit score drops considerably. The good news is that you can rebuild your credit.  Here are a few tips to help:

   1. Create a budget. A budget lets you see exactly how much money you have to spend each month. It also helps you track where you spend your money. Put together a budget that fits your lifestyle and then stick to it.

   2. Build an emergency fund. You never know when an emergency will happen. When you’re prepared for a financial emergency, you’re better protected from financial problems.

   3. Repair your credit.  Review your credit reports from all three credit bureaus.  Dispute any errors you find.  Removing errors from your credit reports help improve your credit.

   4. Establish new credit. This can be tricky after a Southern New Hampshire foreclosure. New credit will give you a chance to prove you can manage debt. However, you certainly don’t want to find yourself owing more than you can possibly pay. If you can get a traditional credit card, your interest rate will be very high, so choose and use your credit cards wisely. An alternative is to apply for a secured credit card, which requires that you put money down as a deposit before credit is extended to you. Use your card regularly but lightly, and you will see your credit start to improve as you make consistent payments.

   5. Have patience. It takes time to rebuild your credit. Don’t expect your credit score to be in the good or excellent range within weeks or even months after your Southern New Hampshire foreclosure. It’s going to stay on your credit report for seven years, so there’s no need to rush.

A foreclosure is not the end of the world. Let me help you plan for and find your next home so it fits your budget. Give me a call at 603-821-1134 or email me at Dave@TeamHeeter.com.

Are You Pre-Qualified, Pre-Approved or Approved for a Southern New Hampshire Real Estate Mortgage?

One of the more frustrating aspects of buying Southern NH real estate is qualifying for a mortgage that will allow you to buy the home of your dreams. Lenders use terms to describe your loan status that may be confusing.

For example, what is the difference between being pre-qualified, pre-approved or approved for a mortgage on your Southern New Hampshire real estate?

·    Pre-Qualified – This just means that the lender may approve you for a loan if everything checks out. Pre-qualification is based solely on information you give the lender about your income and debts. This is no guarantee that you will get a loan. People do sometimes omit important details about their finances (whether accidentally or intentionally), so the lender won’t even be able to give you a possible loan amount at this point.

·    Pre-Approved – Once your lender pulls your credit report, they can give you an idea of what kind of loan you may get. When you’re pre-approved, you still have no guarantee that you will get a loan, but you have a better idea of your price range. Sellers like working with people who are pre-approved because it shows that their credit has been verified, and they are more likely to qualify for a loan.

·    Approved – When you are approved for a loan, your financial records have been verified, and the lender can say for sure how much they are willing to lend you for a particular home. You can be approved for a mortgage only after the lender has approved both you and the home. Once you have approval, you can move forward with the purchase.  This is why a financing contingency is included in the standard Purchase and Sales agreement used in New Hampshire for writing contracts to buy and sell property.

For more information about the mortgage approval process for purchasing Southern New Hampshire real estate, call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.

How to Interview Southern New Hampshire Real Estate Agents

Choosing a professional real estate agent can be a very imposing task. This person is responsible for finding your new home or selling your home, guiding you through the home inspection process and negotiating a good price and terms. These are important tasks that should be taken seriously. That’s why finding a skilled real estate agent is key to a successful real estate transaction.

If you can't get a strong recommendation for an agent from a trusted friend, here are several tips for interviewing Southern New Hampshire real estate agents:

• Interview at least three agents. Even if you love the first or second agent you interview, promise yourself you’ll interview all three. You learn more from each interview, and you never know when that third agent is going to be the perfect match for you.

• Ask all three agents the same questions so you can compare their answers and ability to communicate. Write out your questions so you don’t forget any, and take notes during the interviews. You think you’ll remember what they say, but the specifics will begin to blur as you interview the second and third agent.

• Ask the Southern NH real estate agents how long they've been in business and how many homes they’ve helped people buy and sell during the last year. An agent with experience is a very valuable asset, but with the current fluctuations in real estate, an agent with recent experience is even more valuable. Also ask how long they've been helping people buy and sell homes in the area in which you want to live. You want a real estate agent who is an expert on that neighborhood.

• Get at least three references of past clients from each of the Southern New Hampshire real estate agents. Then follow up with those references. Ask a variety of questions such as:

o What was it like to work with the agent?
o Would you work with him or her again?
o What was your least favorite thing about working with the agent?
o What was the best thing about working with the agent?

If you’re looking for a professional real estate agent, I’d be honored to be interviewed for the job. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com to schedule an interview.

Southern New Hampshire Real Estate: 4 Myths About Vacant Land

The Path Less Traveled

Purchasing land to build a home on is very different from buying a home within a Southern New Hampshire real estate development. In fact, vacant land can be downright scary to someone who’s never dealt with it. However, if you have strong ideas about what you want in a home and haven't seen anything to your liking in pre-existing construction, don’t let fear keep you from buying land.

Do your research and separate the truths from the myths.  To get you started, here are 4 common land myths debunked:

   1. It takes too long to build on. The truth is that you can build on your vacant land as soon as you’re ready. What can take time is getting the right building permits and fitting into your builder’s schedule. However, none of this has anything to do with the land itself. You can run into these delays if you build in a planned community.

   2. It has no value. You’re most likely not going to be able to flip a piece of vacant land like you could a home that you rehab. Yet, like any other type of Southern New Hampshire real estate, land generally goes up in value over time. If you add improvements to land, like septic and water systems or even a home, its value will go up even more.

   3. I have to pay cash for it. Although it may not be as easy for just anyone to get a bank loan for vacant land, it is possible. Even if you can’t get a bank loan for land, many land owners are more willing to offer owner financing or a lease to own arrangement so you can purchase it.

   4. It’s just too risky. Of course there’s a risk involved in buying vacant land, but it’s no different than any other real estate investment. There’s always a chance the Southern New Hampshire real estate market will shift and make it more difficult to sell. However, as long as you do your homework and buy land in a desirable area, it’s still a rather safe investment.

If you’re interested in buying land or learning more about it, give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Is a Southern New Hampshire Condo Right for You?

Cannongate in Nashua

A home doesn’t have to be a house. It can also be a condominium. Condos can be townhouses, apartments, or even separate structures as long as you only own the space between the walls. For some people, single family homes may be too large or cost too much money. They can still enjoy the benefits of home ownership through a condo. How do you know if a Southern New Hampshire condo is right for you?

Pros of Owning a Southern NH Condo
   

Woodbury in Merrimack

* Maintenance. With a condominium, you are only responsible for the interior of your unit. You don’t have to mow the yard or paint the exterior. If you have a busy lifestyle or don’t have the ability or desire to maintain the outside of your property, a condo may be a good choice for you.
    * Location. Many condos are built in popular areas surrounded by shopping, restaurants, and entertainment. Homes in these areas may be out of your price range, but you can still live there in a condo and have the same neighborhood amenities.

Cons of Owning a Southern NH Condo
  

Bluestone in Nashua

* Condo Fees. Most condominiums have monthly fees that go toward the maintenance of the property. These fees are in addition to your mortgage payment and can raise your monthly payment considerably.
    * Condo Associations. Condominium owners serve on boards that decide how condo fees are spent. They may even decide to use fees for something you will never use.

Need more help deciding if a condo is right for you?  Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.  I’m happy to help!

Buying a Southern New Hampshire home? Don’t Miss This on Your Home Inspection

If you’re buying a Southern New Hampshire home, you probably know you need to have the property inspected to make sure the home is in good condition before buying it.  But do you know the types of inspections you want done?

One of the inspections you want to include is a test for radon gas.  (Be sure to also include a radon contingency in your offer to purchase.)  Radon sounds fairly harmless, doesn’t it? However, you might not want to pass this option up, especially if your potential new Southern NH home has living space in the basement.

What is Radon?
Colorless, tasteless and odorless, radon is easy to miss. It’s a natural gas that’s found all over the U.S. When we all breathe it in the air, it’s highly diluted. The problem isn’t when radon is outside; the problem is when it builds up in enclosed spaces. In high enough concentration, radon can cause health issues. Over 21,000 deaths per year from lung cancer are Radon related according to EPA estimates.  (The incidence of death is higher among smokers, but still....)

Because no home can be completely sealed against gas from the ground, radon can be present in any type of home and may even build up more in newer, more airtight homes. It can even be found in the water supply. In fact, the EPA estimates that 1 in 15 homes have elevated radon levels.

Getting the home tested…
While certain parts of the country are at higher risk than others, living in a low risk area doesn’t make your particular home safe.  When you set up your property inspections, I strongly urge you to request a radon inspection.

If there is radon in the home…
Radon is measured by the quantity in a specified amount of air. According to the EPA, if the radon level is more than 4.0 pCi/l, there’s a problem that needs to be rectified with a radon mitigation system.  Simply put, the gas needs to be vented to the outside.

Fortunately, the fix won’t take a lot of time or money, but it does need to be done by a trained radon mitigation system professional. For example, if the basement is not finished, you should be able to have a system installed for less than $1,000 (as long as the radon is only in the air, not water, and depending on the size of the home).  Regardless of how high the radon levels were to begin with, this eliminates the problem.

If you’re trying to find a great Southern New Hampshire home to buy, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Barriers to Buying Southern NH Real Estate

Buying a new home takes a lot of preparation. Without knowing what you are walking in to, you are bound to run into road blocks. A good Southern New Hampshire real estate agent can help you understand the intricacies involved in purchasing your new home. Some of the most common problems that buyers run into are avoidable.

Buying the Best is Nice… but

If you’re looking at the most expensive house in the neighborhood, in the city or in the state, you’re asking for problems.  The risks involved for your lender make it more difficult to get a mortgage: It's harder for appraisers to justify the sales price for the most expensive home; if it's already been over-improved, there's no room to increase the value aside from just a general increase in market value over time; and therefore, if anything changes in your lifestyle within the first 5 to 7 years of ownership, it's likely to be hard to sell or refinance to avoid foreclosure.

If you must have the most expensive home, pay the most you can as a down payment.  That will lower the risk and make it more likely your loan will be approved.  If you can't afford a big down payment, you’re probably looking at a formidable roadblock to a loan.

Being Unprepared

Walking into a mortgage lender unprepared is like shooting yourself in the foot - it's going to take you a lot longer to get where you want to go! So have your financial information in hand. If there are any problems with your credit, be prepared to explain them. Have a good budget including the estimated new mortgage to show you can handle the loan.  Don't make the kind of mistakes that got other buyers in trouble when the real estate 'bubble' deflated.  Think like a Boy Scout and be prepared.


Not Taking All Costs into Consideration

A big mistake many prospective home buyers make is not realizing there are many costs associated with buying Southern NH real estate besides just a new mortgage. There are closing costs, legal costs, insurance costs, property taxes and deed and recording fees.   All of these have an impact on your wallet and most need to be paid at closing, but there will also be some expenses during the purchasing process as well as move-in costs after closing.

Want to know more about how to prepare to purchase Southern New Hampshire real estate?  I’d be happy to walk you through the entire process.  Give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Checklist for Buying Southern New Hampshire Homes

Searching for the right home takes time and patience. Before you start looking at Southern New Hampshire homes on the market, you need to know exactly what you want in your new home.

Create a list of the features you want in your new home, so you make the most of your time by looking only at Southern NH homes that meet your criteria. Here is a quick guide to help you create a checklist:

1.    Must Have. These are deal breakers; features that you cannot live without. Do you need a certain number of bedrooms? Do you work from home and need an office, or maybe even an outside entrance to your home office? Perhaps you have small children or large dogs and need a fenced yard. Decide now what you must have in your new home.

2.    Like to Have. Features you would “like to have” are those you prefer but are willing to sacrifice if the home is perfect otherwise. Maybe you’ve always dreamed of having your own swimming pool or cathedral ceilings or an oversized garage. Include on this list whatever you would like to have in your new home, as long as it doesn’t take away something from the “must have” list or go over your price range for Southern NH homes.

 3.    Can live without. Some features just aren’t as important as others. Knowing what you don’t really care about can help you stay focused on what really matters to you. Add to this list home features that aren’t important. If no one in your home ever takes a bath, you may not care if you have a whirlpool tub. Perhaps you don’t really want to take care of an oversized yard, so lot size many not be important to you.

Once you have your checklist compiled, share it with your real estate agent.  It’ll speed up your home buying process, reduce time and frustration and get you in a home you’ll adore.

Let me help you find your dream home. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

4 Reasons You Should Buy Southern New Hampshire Real Estate in a Down Market

The national and Southern New Hampshire real estate markets are constantly fluctuating, falling somewhere between more inventory and lower prices and less inventory and higher prices. People are often frightened when the home inventory rises, but a declining real estate market may just be the perfect time to find your next home.

Here are 4 reasons why you should consider buying Southern New Hampshire real estate in a down market.

1.    Inventory. When the market is down, more homes are for sale. This means you have more homes to choose from, which makes it easier to find a home in your dream neighborhood or closer to work or school.

2.    Negotiation. There’s a reason down markets are called “buyers’ markets.” Sellers want to sell their homes, and they are often willing to do whatever it takes. This means you have the advantage and can buy a home for a great price. You can also ask the seller for other incentives like paying all or a portion of your closing costs.

3.    Mortgage Rates. When the real estate market begins falling, interest rates get cut. This can mean considerable savings for you over the course of your mortgage. You can even buy a larger home within your price range than you can when the market is booming.

4.    Long Term Strategy. Even though doom and gloom is popular in a down market, your home will still most likely go up in value or at least retain its value in the next 5 to 10 years. Keep in mind that your home is your most personal investment. It’s a place where you will create memories and maybe even raise a family.  If you can settle down in one place, you can someday finish paying the mortgage and own your own home outright!  Now there's a nice feeling!

If you’re considering buying a home, let me help you find a wonderful home at a great price. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Buying a Southern NH Home for Sale – Fixed or Adjustable-Rate Mortgages?

As soon as you decide to buy a Southern New Hampshire home for sale you’ll be looking at loans. You’ll see balloon loans, fixed-rate mortgages, adjustable-rate mortgages and a few others. Fixed and adjustable-rate mortgages are the most common, but why and what’s the difference?

The biggest differences are in cost and security. Fixed-rate mortgages can cost more, but have a measure of security. Adjustable rate mortgages, or ARMs, can cost less, but have less security.

As with all things, ARMs and fixed-rate mortgages have pros and cons. Here are just a few:

The Pros and Cons of ARMs
When you buy a Southern New Hampshire home for sale with an ARM, your payments will be lower than a loan with a fixed-rate mortgage. Because the payments are lower, you can afford to buy a more expensive home. As well, ARM payments are based, in part, on interest rates. When interest rates fall, your payments go down.  (It's not an immediate effect: the payments are recalculated at regularly scheduled intervals predetermined by the loan paperwork - could be every 2 years or 5 years, etc.)

The cons of adjustable-rate mortgages are just as big as the pros. For example, because they are based on whatever the current interest rate is, you can end up having a higher mortgage payment if interest rates rise over the term of your loan. If rates rise sharply and the cap on how much the rate can rise per adjustment is set high, a 6% ARM can turn into an 11% ARM within four years. Another negative is that because ARMs aren’t easy to understand, borrowers can be confused, which makes it easier for shady mortgage companies to trap them in a bad deal.

The Pros and Cons of Fixed-Rate Mortgages
With fixed-rate mortgages, your payment stays the same whether interest rates rise or drop. This makes budgeting easier and is a plus when interest rates rise. However, homeowners with fixed-rate mortgages have to refinance if they want to take advantage of dropping interest rates.

Likewise, because the payment never changes, fixed-rate mortgages cost more. Mortgage lenders don’t offer rate breaks on fixed-rate mortgages. The other con, which may be a big one to some, is that fixed-rate mortgages don’t vary from lender to lender. With adjustable-rate mortgages, the lenders are flexible and can customize the loan to your needs; this isn’t true with fixed-rate mortgages.

The biggest question to ask yourself when considering an ARM or fixed-rate mortgage is, “Can I afford my home if interest rates spike?” You could start paying $875 a month, and, with a quick rate rise, end up paying $1,514 within four years.

My Advice
With interest rates as low as they are right now, I see no value in getting an adjustable rate mortgage.  As long as interest rates are in the 6% and under range, I would ignore the adjustable rate option and stick with the security of the fixed rate mortgage. 

When considering which type of home loan to use for buying a Southern New Hampshire home for sale, don’t be afraid to ask a lender to explain the pros and cons of each type in depth. Don’t ever consider signing the contract if you aren’t sure what you’re signing.

If you’re looking for a great home to buy, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Foreclosures in Southern New Hampshire: A Great Investment or Bad Disaster?

With all the talk of the great deals you can get on foreclosures in Southern New Hampshire, you may be tempted to step into the investment market. Or, you may get the idea that buying a foreclosure is your best bet for a great deal on a home. Well, it’s possible, but remember that the foreclosure market is full of perilous pathways and competitive investment pros who know what they’re doing.

Whether you’re considering purchasing foreclosures in Southern New Hampshire as investments or as your personal residence, here are a few tips that will help you get a great investment and avoid a bad disaster.

●    Gather a Team of Professionals:  Your team of professionals should include a home inspector, a real estate agent and an appraiser.  You may also want to include a professional repairman, if you’re not handy. With foreclosures, you often have to be ready to move on the home immediately, so establish relationships with these professionals ahead of time.

●    Buy a Pre-foreclosure:  According to the experts, pre-foreclosure is one of the best times to buy. The seller will probably be more willing to accommodate you because they want to avoid ruining their credit. Which means you’ll have a much better chance of getting a good deal – something more than the seller owes the bank, but less than market value.  The variant of this where the seller owes more than market value on the property (a short sale) can also be a better option than bank owned, though it takes considerably longer.  Look for properties noted as 'preapproved' short sales.

●    Skip the Auction:  While going to foreclosure auctions is another possibility, it isn’t for the beginning investor. You may find that you’ve done a whole bunch of research for nothing, because the auction was cancelled. You may end up with a trashed property because the previous owners didn’t want to move, or because the house has been empty for a long while.

●    Be Careful Buying Bank-Owned Properties:  This option is seldom as great as it sounds. Not all banks price homes at fair market value. Many of them are trying to get their money back, which, with current depreciation, could be much more than the home is currently worth.  Also, with the current uproar about improperly handled foreclosures, there may be more risk involved in buying from a bank than previously thought. 

If you’re considering buying foreclosures in Southern New Hampshire as an investor or a homebuyer, I can help.  Call me today at 603-821-1134 or email me at Dave@daveheeter.com for more information.

Buying a Southern NH Home: Death, Taxes and Closing Costs Guaranteed

You know you’re going to pay a mortgage for however many years once you sign the paper on a Southern New Hampshire home. You know your agent is going to get paid for the absolutely wonderful, amazing (put extra descriptive text here) job he or she did to help you find the home of your dreams. What you may not be expecting, however, are the closing costs.

The saying goes “nothing’s guaranteed except death and taxes,” but you can add “closing costs” in there. Now, I’m sure the mortgage was expected, and you don’t mind your agent earning a bit, but what the heck is this “closing cost” business? While the government forms attempt to explain them, they might as well have been written in chicken scratches; government lingo has never been exactly easy to understand.

Be Prepared to Pay
“Closing costs” is a catch all term for all the expenses that wouldn’t fit under a convenient title like “mortgage.” Be prepared, because they can range anywhere from 3% to 8% of your total loan. For example, if you have a $150,000 loan, your closing costs could be anywhere from an additional $4,500 to $12,000.

What are you paying for?
Aren’t you already paying for the Southern NH home? What’s with these closing costs? It probably feels like hidden fees, but they aren’t. Here are just a few of the fees you might end up paying, depending on the lender and the circumstances:

·    Prorations – The allocation of property taxes, interest, Home Owner Association dues, insurance premiums or rental income between buyer and seller proportionate to time of use.  For example, if the property tax is paid up to a period after you close on the house, the seller might be entitled to reimbursement.  Heating fuel in storage is one you may come across for homes heated by oil or bottled gas.

·    Appraisal Fee - The fee charged for a written appraisal by a qualified person setting forth an opinion of a property's fair market value.

·    Hazard or Fire Insurance – Just in case you burn the house down after you buy it, lenders might require you to have an insurance policy.

·    Purchase Points – These are known as “discount points,” or just “points” but it’s more like “pay the lender less now or pay the lender more later.” Each point costs 1% of your loan amount and reduces your interest rate for the life of your loan (usually by fractions of percentages). Since it can take a few years for the lower payment difference to offset the initial closing cost, it's probably only a good idea if you plan to live in the house for five years or longer, and with interest rates as low as they are now, it may not make any sense.

The good news is you won’t have to guess what the closing costs are for your new Southern New Hampshire home. The lender is required to give you a list of each of the potential closing costs and an estimated amount for each, so you won’t be completely surprised when it's time to bring a large check to the closing table.

If you have questions about closing costs or any other real estate related questions, I’m happy to help. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Buying Southern New Hampshire Homes: Should My First Home Be New or Pre-Owned?

Buying Southern New Hampshire homes can be scary, especially for first-time buyers. One of the things that makes it scary is that the home buyers have to make a lot of decisions.  

Both first-time home buyers and veteran buyers have to make decisions about whether to buy new or pre-owned Southern NH homes. Which is right for you? Well, that depends on your particular situation, but knowing some of the differences between the two will help you make the best decision.

Home Warranties:  New Homes vs. Pre-Owned Homes

Home warranties vary, but essentially cover mechanical breakdowns, such as furnace failures and clogged pipes, not usually covered by home insurance.

·    New Homes:  For new homes, the warranty begins from the moment you close the deal. Normally, appliances have a years’ warranty, which can be extended. As well, the builder’s warranty covers things such as structural or roofing systems.  However, new home warranties are precise about what they cover. For instance, if you have a bunch of kids and a couple of animals, you’ll have a hard time saying the carpet should be covered if it starts pulling up.
·    Pre-Owned Homes:  With pre-owned homes, you have the option to negotiate on the warranty and what it covers. It could cover appliances, the air conditioning system, dishwasher - any major home component.  However, if you end up with a shady seller who cosmetically covered up mold (for instance) and you don’t know there’s a mold problem, the warranty may not cover it. Note: this is one of the reasons I always say, “Get a home inspection before buying.”

Out of Pocket Costs:  New Homes vs. Pre-Owned Homes

·    New Homes:  Developers often offer home buying incentives to close the deal. In slow markets, they may add bonus cash incentives, upgrades or other things to entice you. However, if the market picks up, developers may reduce those incentives. Rather than offering you a dishwasher and other appliances for free, developers may charge you a premium for them.  Another big out of pocket expense to keep in mind is landscaping.  It’s an expensive proposition today for the cost-conscious home builder.
·    Pre-Owned Homes:  Landscaping is a big plus to buying a previously owned home. Mature trees, hearty shrubs, rose bushes and lush well-watered lawns are some of the rewards of a pre-owned home.  Additionally, very seldom do the sellers take their dishwasher and other appliances with them when they move. You also have the ability to negotiate with the sellers about furniture and other amenities. However, you don’t always know the condition of these amenities. They may end up costing you more on upkeep than if you had just bought new appliances.

Whether you’re looking at new or pre-owned Southern New Hampshire homes, I can help. Call me at 603-821-1134 or email me at Dave@Daveheeter.com for more information.

Is Buying a Southern New Hampshire Home for Sale Ever Going to Be a Good Move?

If you’ve thought about buying a Southern New Hampshire home for sale, you may be wondering, “Is it ever going to be a good idea?” I understand; there’s an endless stream of media pouring out bad housing news. It’s discouraging to say the least if you’re a homebuyer or a home seller.

Yet, the problem with the news from the home buying standpoint is that it focuses on profit. The media says, “You can’t make a profit from buying a home.” They talk about prices dropping and more homes hitting the market, among other things. What they miss, however, are the real reasons most people buy a Southern New Hampshire home for sale.

It’s your home. Period.
You can do what you want with it. You don’t have to worry about whether painting a mural on the wall will get you an increase in rent. You don’t have to deal with the noisy people who just moved into the apartment above you, who obviously brought a zoo because something’s pounding on your ceiling all the time. You can paint the walls black and nobody can say “Boo” about it, because it’s your home.

Fixed-rate mortgages stay put.
Unlike rent, which can go up and up and up, fixed-rate mortgage loans stay the same. They work exactly like they sound; the rate you start at when you buy your Southern New Hampshire home for sale is the rate you end at when you finish paying off your mortgage.

You can eventually stop paying out.
Rent will always be owed. At no time in the future will your landlord say, “You’ve paid enough rent. You don’t have to pay anymore.” Mortgages, however, will eventually be paid off. Therefore, while renters pay for 15 years and then must continue to pay, homeowners who have a 15-year mortgage can pay for 15 years and then stop.

It’s your castle.

Nobody owns it but you. There’s a certain pride to owning a home that far outweighs profit. The excitement from making a profit, however small or large, is a fleeting, momentary thing. When you buy a Southern New Hampshire home for sale, you’re buying a castle – a safe haven where you can get away from the world; a place where you can relax and be comfortable.

If you’re ready to find your castle, I can help. Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.

Helping Your Southern New Hampshire Real Estate Agent Get You into a New Home

Confident buyers

Buying a home is often considered one of the most stressful things you will do in your life.  Unless you're a seasoned real estate investor, you will most likely experience home buyer stress.

You can help your Southern New Hampshire real estate agent find you a home and successfully close the deal if you are as prepared and knowledgeable as possible. Here are a few tips to help you be ready and make your transition as painless and stress free as possible.

Have all of your financial records in order. This includes:

·    Income records: You usually need two recent pay stubs. If you are self-employed, it will get trickier.  Want to be even more prepared?  Get pre-approved for your mortgage.

·    A clean credit report: Make use of those free credit reports and check for errors, outstanding debts, and a high debt-to-income ratio.  If you find any errors, it's worth your time to get them fixed prior to applying for a loan or searching for a home.

·    Know what you want: As unusual as that seems, not knowing specifically what you need and want in a new home can prolong the search and have you and your agent running in circles trying to find the right home. Price is only one of the considerations. Know how many bathrooms and bedrooms you need. If there are specific amenities you desire, let them be known.  Don't wait until you've traveled all over the countryside looking at homes to tell your Southern NH real estate agent you absolutely must have a sunken tub.

Read up on everything you can find that will help you understand the options available to you and what you need to get financing and you will be your own best asset in finding the perfect home. Making your Southern New Hampshire real estate agent work smarter, not harder, is the way to a beneficial arrangement for you both.

If you’re looking for the home of your dreams, I can help.  Call me at 603-821-1134, or email me at Dave@DaveHeeter.com for more information.

3 Tips for Buying an Eco-friendly Home for Sale in Southern New Hampshire

Buyers are becoming more concerned about their personal environment, from eco-friendly carpeting to energy efficient appliances. If you’re looking for an eco-friendly home for sale in Southern NH, but aren’t sure how to find it, here are a few tips on what to look for:

   1. Indoor Air Quality (IAQ) – Although the number is growing, only a few builders are employing eco-friendly practices during construction. However, those that do can qualify for the EPA Indoor airPlus designation. These homes are designed for better IAQ, which means a healthier home for you. Rest assured, if a builder meets this designation they’ll tell you about it. However, just in case – ask!

   2. Energy Efficient – If it qualifies for the EPA Indoor airPlus designation, the Southern New Hampshire new construction will also be energy efficient. However, if you’re not looking at a newly built home, look for those homes that are Energy Star efficient. According to the Energy Star website, “These homes are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more efficient than standard homes.”

   3. Eco-friendly – Energy Star and EPA qualifications aside, you can also find homes in which the seller has made eco-friendly changes that will help you even though they may not meet the guidelines for qualifications. For instance, solar paneling, wind turbines and geothermal heating aren’t covered by the EPA or Energy Star qualifications by themselves, but they’re eco-friendly and can lower your utilities.

An eco-friendly home for sale in Southern New Hampshire may be hard to find, but the numbers are growing. If you’re looking for an environmentally friendly home, I can help. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com.

Southern New Hampshire Home Inspection: What it Covers

The home buying process isn’t complete without a home inspection. Your real estate agent will mention it. The lender will ask about it. Even your closer will make sure the Southern New Hampshire home you’re purchasing had an inspection.

Home inspections are important. No matter how much you trust the seller, there are some things you need to know about your Southern NH home before you purchase it.  While you’re not required to attend the inspection, it’s an excellent idea to do so.

So you’ll know what to expect, here are the basics that a typical home inspection covers:

    * Appliances. You will know if the appliances are in working order.

    * Electrical. The inspector makes sure the main panel, circuit breakers, lights, and outlets are working.

    * Exterior. An inspector looks for defects on the outside of the home, like problems with the wall covering, landscaping, trim, and exterior electrical outlets.

    * Garage. You don’t have to worry about what the garage is hiding. You will know if the slab, walls, vents, and entries have any problems that need to be addressed.
 
    * Home structure. The inspector checks the foundation, ceilings, floors, roof, and wall construction for any defects and will alert you to any issues requiring the advice of a structural engineer.

    * Plumbing inspection. Although inspectors do not check sewer systems, they can tell you if you need to do any work to toilets, showers, sinks, and faucets.

    * Roof and attic. The roof inspection is not a guarantee of its condition, but you will know what type of roof you have and what condition the roof covering, flashing, vents, and gutters are in.

    * Systems. They will also check the effectiveness of your air conditioner, duct work, fireplace, and heating system.

A quality home inspector will look at every nook and cranny to gauge structure stability, present and potential dangers. But remember, a home inspection is not a guarantee or a warranty - it may not find everything.

No house is perfect, so you should expect your inspector to find some issues with the Southern New Hampshire home.  If significant problems are discovered, you can ask the seller to repair them, reduce the sale price or you can even back out of the deal without consequences, as long as your contract includes this contingency.

Let me help you find the right home for you. Call me today at 603-821-1134 or email me at Dave@DaveHeeter.com for more information about home buying.

Homes for Sale in Southern NH: Should You Buy a Model Home?

Of the homes for sale in Southern New Hampshire, at least of few of them are model homes. Not “model” as in the perfect house for anyone, but “model” as in the builder’s showcase. They’re beautiful, generally include higher-end options and often contain excellent examples of cabinetry and architecture.

If you come across one of the model homes for sale in Southern New Hampshire, should you consider buying it or pass it up all together? Well, like everything else, there are pros and cons:

Pro: More for your money
Eventually, the builder has to sell the model home, and at that point, he or she is a motivated seller. The chances are more likely that you’ll end up paying less than the listing price. As well, since it is a model home, it will have bells and whistles you might not get from the same type of house down the street.

Pro: Bells and whistles
What are bells and whistles? Well, it depends on the area and the builder, but model homes have many add-ons to show the capabilities of the builder, architect and other companies involved in building the homes. Those bells and whistles can include anything from expensive landscaping and a finished basement to window seats.

As well, most builders are willing to sell the furnishings, giving the buyer of the model first dibs. Quite simply, you could very well end up with the best house, the newest appliances and the nicest furniture.

Con: You may have to wait months
If you buy a showcase home before the builder has sold all the other homes in the development, the builder may not be willing to close. Most want to wait until the showcase house has done its job. Especially in the current economy, this could take quite awhile. If you go this route, make sure your contract gives a specific closing date – and always read the fine print.

Con: It’s old and new
While a model home has never been lived in, it could very well have sat on the lot for three years while the development was being sold. While the appliances may never have been used, the warranties are wearing out; the walls and floors show wear and tear as well. For this reason, you want to make sure the builder includes a little maintenance in the contract. New carpeting and fresh paint are bargaining points for you as the homebuyer, among others.

Should you buy one of the showcase homes for sale in Southern NH? Well, it’s really up to you, but always do your homework first. How long the house has been there, what the contract includes and other questions should be answered – before you sign on the dotted line.

If you’re looking for a dream home with all the bells and whistles, I can help.  I can even help you get the best price and terms on a model home, if you call me before you start visiting them.  Call me at 603-821-1134 or email me at Dave@DaveHeeter.com for more information.