Real Estate Tips

Quick tidbits of advice and ideas about real estate.

Found 147 blog entries about Real Estate Tips.

Getting mortgage pre-approval is one of the first steps toward buying your dream home. Pre-approval boosts the likelihood that the seller will accept your offer and gives you a detailed quote for your homebuying budget. 

But homebuyers often hesitate because they think that pre-approval hurts their credit score. Will it? 

The truth is that it will temporarily lower your score, as is true whenever a creditor pulls your credit report. But the benefits of getting pre-approved outshine the slight dip in your score.

Does a Pre-approval Impact My Credit Score?

A pre-approval usually requires a hard credit inquiry, although a soft inquiry is all that is needed for a pre-qualification. A hard inquiry can lower a borrower's FICO score by about

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Follow these tips and expert insight to help you get your budget in order and get yourself ready to buy your first home.

1.) Organize Your Finances

You may know how much you have in your bank accounts, but do you know how much you spend on household expenses and luxuries each month? Or which credit card has the highest interest or balance? 

Getting a good handle on your money starts with a clear idea of where your money is going. This info will also help you determine what you can afford and your homebuying timeline. Start by breaking down your finances into the following categories:

  • Start with creating a basic budget for items like housing, groceries, and gas.
  • Account for an emergency saving --In case of an accident or other
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Not all loan products are the same, nor are borrower situations. For first-time homebuyers, you’ll most likely hear about the most popular 30-year fixed-rate conventional loan, and there’s no arguing that it's a great loan product for most buyers but not in all circumstances.

However, other mortgage options could be better, depending on your financial circumstances and future plans.

The best way to know is to talk to a mortgage professional. But you can start getting familiar with your options with this article.

If you plan to stay for a long time

When you come across a home you fall in love with and plan to stay in the property forever, a fixed-rate loan is a good option. 

These loans can give you peace of mind since you pay the same

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If you are facing a financial or health-related problem or simply going through a new phase in life, you may be thinking about sharing a home with close family or extended family members.

Many people have decided that living in a multigenerational home answers their problems. The number of American adults who have lived in a multigenerational home has more than doubled compared to forty years ago.

It’s no surprise that more and more families are choosing this setup for practical reasons. 

The question is, will this work for you and your family? Let’s dig deeper into how this works and look at tips on making a multigenerational home work for you.

How do you define a multigenerational home?

According to the Pew Research Center, a

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2023 is slated to be a big year for remodeling and renovation. In Nashville alone, 2022 was a record-setting year for home expansion, and there are no signs of this pace slowing down. If you have plans to update, upgrade, or expand on your home, it’s vital that you read up on Tennessee’s laws governing permits for residential construction. Laws do vary by county, but robust building codes are in effect throughout the entire state.

Today we’ll be discussing the general rules that apply in Middle Tennessee.

What are Building Permits?

A building permit is a written authorization from your state, city, or county granting you permission to proceed with construction. They are intended to enforce building codes and zoning laws and can be obtained

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Since the start of the millennium, few real estate trends have gained and retained as much popularity as the open floor plan. Though they range from expansive great rooms paired with traditional bedroom configurations to fully open, sun-drenched loft apartments, it’s a fact that no other type of configuration has been in such high demand.

If you’re preparing to look for your first home, or upgrade the home you have, you are no doubt mulling over the pros and cons of open concept living—and you’re correct that such designs aren’t for everyone.

Let’s take a closer look at some important factors to consider before you make such a huge decision.

The Pros

1.) Freedom to Socialize

Open floor plans are perfect for entertaining and spending

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If you plan on buying a new house, you should thoroughly research the property that meets your needs. But you shouldn’t only be diligent about the house-hunting part during your research. You would also like to know more about the neighborhood you’re about to relocate to.

If you’re confused about what you should look for in a community, here are ten things to consider in looking for your ideal neighborhood.

1.) Neighborhood Safety

Safety and security should be your top priorities when moving to a new location. Do your homework to research specific crimes in the area. You can also visit the local police department and ask questions about which part of the neighborhood has a higher crime rate.

2.) Parks & Recreation

If you have kids,

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Being a part of a military family means you may not have a permanent address for some time. It’s common to receive orders to move to another station even if you’ve just settled into a house and neighborhood you love.

To make the experience easier, we share some tips on buying and selling your home as a military family.

Should you buy a house or not?

When you’re an active service member, you’ll receive a BAH (Basic Allowance for Housing), whether renting or buying. The amount depends on your pay grade, where you’re living, and your dependency status.

Buying a home is a good option if you want lower monthly payments than renting, but if you think you’ll get transferred in a short time, you’ll probably want to hold off a bit. The reason is

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Purchasing your own home may be the largest purchase you can make. The median monthly mortgage payment in the U.S. is $1,100, as reported by the U.S. Census Bureau — and this doesn’t include other costs related to homeowners insurance and property taxes. 

If you want to save thousands on your home purchase, there are multiple ways to reduce your total cost. Read on and discover four ways to save money on your home purchase.

Expand Your Search Area & Criteria

If you’re searching for a house in the city center or a specific area, but you now realize it’s very much out of your budget, you may want to try broadening your search area. By re-prioritizing, the items on your wish list can give you opportunities you didn’t even think about, which

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As a renter, you weren’t responsible for performing routine home maintenance, let alone dealing with repairs and emergencies. As a homeowner, however, it’s essential that you are financially prepared to handle each of these unavoidable events. While facing repairs and emergency expenses will still be stressful, being prepared for them will ensure that your financial position isn’t threatened by the unexpected.

As you read through our recommendations, keep in mind that they are developed with the average expenses faced by a homeowner in the US. If you have purchased a new home, your repair fund will not need to be as large. If you’ve purchased a home that is over 30 years old, plan for roof, plumbing, window, HVAC, and electrical issues that are

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