Tag: home buyers

Most Commonly Forgotten Moving Tasks

Posted on Staff

Moving can be a stressful affair.

From closing on the property, packing, transporting, unpacking and everything in between, it is easy to forget some of the most important jobs associating with a move.

Take a moment to familiarize yourself with these most commonly missed moving tasks to help ensure your next move goes a little more smoothly.

Address Change

Putting a change of address is something a lot of people, surprisingly, forget.

U.S. postal service logo

In the past, residents would have to go to the post office to file a formal change of address. Today, address changes can be filed from the comfort of your own home.

Though the task can be completed after you have moved, it may be easier for you to get your mail squared away before leaving your old address.

On your phone, laptop or tablet, visit the U.S. Postal Service website where there is an easy and quick change of address form.

The form provides spaces to put your new address and when mail should start being forwarded to that address. You can also mark whether the residence will be permanent or temporary.

A lake home that serves as your primary residence in the summer qualifies as a temporary change of address.

Contact Utility Companies

When moving into a new home, your utilities will need to either be canceled or transferred. This depends on where your new home is located.

Some companies only operate in certain areas so it is important to determine whether your current provider services your new address.

If not, these companies may be able to provide an alternative servicer in the area to whom you can take your business.

In the event that information cannot be provided, websites like InMyArea provide databases of service providers that serve your zip code.

It may also be possible, if your new home is part of a homeowner’s association, that a list of preferred companies is provided.

Before cancelling your utilities and your current address, it is a good idea get final readings and reports to keep for your personal records.

This is the time to settle up any unpaid balances with these companies, as well.

Also, you should strive for utilities such as water, electric and gas to be connected at your new residence on the same day.

Smoke Detectors and Emergency Exits

Once in your new home, check that all smoke detectors are in working order. Be sure to check that all batteries have been changed.

Additionally, discuss a fire escape plan with your family. This discussion should include determining a family meeting place and what to pack in an emergency go-bag.

Change the Locks

High on the priority list is changing the locks.

key in door lock with house keychain

Though this may seem trivial, your family’s safety is number one. You never know how many people have copied keys to your new home.

Protect yourself and your loved ones by eliminating the chance that the previous owners, or other unwelcome guests, might try to gain reentry into the house.

Update Important Documents

It is important to ensure that all significant documents are updated with your new address as soon as possible.

These documents include your diver’s license, voter and car registration, insurance, student loans and professional memberships or licensing boards.

Subscription service services and mailing lists should be updated, as well.

Moving into the next home of your dreams may be a little nerve wracking, but checking these items off your to-do list will help ease that stress, even if only by a little.

Try reading our “Tips to Make the Moving Process Easy” and “Moving on a Budget” articles for more advice and tips.

Short on Existing-Home Options? 4 Reasons to Buy New

Posted on Nerdwallet (LHR Content Provider)

Buying a home in some markets is like being in a gladiator ring. Multiple rounds of showings and getting into — and losing — bidding wars can leave you feeling defeated.

If you’re growing weary of wading through an increasingly shrinking inventory of resales, there’s another possibility worth considering: buying new construction.

Although the pace of new construction has lagged demand in recent years, total housing starts are projected to increase by 6.1 percent in 2016 compared with 2015, says Stephen Melman, director of economic services for the National Association of Home Builders.

home under construction

Much of that gain is likely to come from the single-family sector, which is expected to grow 11.3 percent. Also, new single-family home sales are forecast to rise 13.6 percent this year to 571,000, Melman says.

Tired of sitting on the sidelines when it comes to buying a home? Here are four smart reasons to invest in new construction:

1. You get to customize your home

Not all of us are blessed with an interior designer’s touch.

With a new home, you pick from expert-selected features, floor plan, housing lot, community and more, so you don’t have to agonize over an extensive remodel to get the house of your dreams.

Margaret Garry and her husband, Stephen Hawkins, recently built a new home on Austin’s bustling east side.

They decided the upfront investment made more sense than spending excess time and money to constantly fix an older home, Garry says. To stay within budget, though, they avoided unnecessary upgrades that would have added thousands to their final price tag.

“When we tried to determine what options to include in our house, we started off by listing everything we wanted, and we came in about $20,000 over budget,” Garry says.

To save money, they ultimately pared down extras that they didn’t need, such as an optional living room fireplace and a utility sink in the laundry room.

2. You might get builder incentives

Believe it or not, there’s a bit of flexibility in the negotiation process with a builder.

Although some things won’t change, such as lot premiums or the price of adding certain designer upgrades, builders will sweeten the deal with money-saving incentives to close a sale, Melman says.

For instance, some builders offer to pay closing costs or loan fees, absorb financing points, or provide options or upgrades for free or reduced cost, he says.

If you don’t see incentives advertised, ask about them. Don’t assume that they’re not available.

3. You likely will get a builder warranty

Most new homes typically come with a builder warranty to cover common post-construction issues that the builder is responsible for correcting, so you don’t have to pay out of your pocket for those fixes, says Craig LeMessurier, senior director of corporate communications at KB Home, one of the nation’s largest homebuilders.

“Resales don’t come with a warranty,” says LeMessurier, whose company offers a 10-year building warranty on new homes.

When you talk to sales associates at new-home communities, ask what that builder’s warranty does and doesn’t cover so there are no surprises later, LeMessurier says.

4. You can finance through the builder — or any lender you choose

Some builders provide a one-stop shop for you to build and finance through them directly or via a preferred lender.

For instance, Garry and her husband chose the latter route because the affiliated lender offered them significant closing-cost assistance that other lenders couldn’t match.

A few things to keep in mind about new-construction financing: Some lenders offering new-home loans might also require higher down payments, an excellent credit score and consistent payment history.

Additionally, if you get outside financing, your lender will check your builder’s credit and background to assess its level of risk in case the builder bails on the contract.

*    *    *

Deborah Kearns is a staff writer at NerdWallet, a personal finance website. Email:mailto:dkearns@nerdwallet.com?trk=nw-wire_553_249938_24742. Twitter: @debbie_kearns.

This article was written by NerdWallet and was originally published by Redfin.

NerdWallet is a Lake Homes Realty / LakeHomes.com content partner providing real estate news and commentary. Its content is produced independently of Lake Homes Realty and LakeHomes.com.