Classified Realty Group



Posted by Classified Realty Group on 3/12/2019

For most homeowners, a home is not just a property with four walls and a roof over their head. Over time, it becomes a place that reminds them of sweet memories spent with family and friends. Buying a home is expensive, and as a result, it is essential that you relegate any form of emotions and apply business-minded strategies in making good decisions. With this in mind, here are some costly emotional mistakes home buyers make and how you can avoid making them.

Falling in love too quickly

Buying a home can play with your emotions. But you must balance your dreams with the realities of your budget. Turn a deaf ear when the agent tells you "Oh, this house was made for you," or "It suits you perfectly," Focus on what you want in terms of space, location, maintenance, and the price. If you are buying a house, buy the one you need rather than what you want.

Allowing others to "steer" the process 

Agents and family members can be assertive in attempting to "tell" you what home to buy. What's more, friends who won't even live in the house will aggressively offer opinions about the subject. In an attempt to please others, some homeowners get highly emotional and buy a house they never liked. It is your house, and you will be the one living in it. Friends and loved ones only visit. So put yourself in charge of the buying process. 

Overpaying for a property 

Another common emotional mistake homebuyers make is paying too much for a property. Buyers—especially new ones—always tend to become desperate to buy a house or buy a house in a popular area, and most time, they end up paying far too much for the property. To avoid overpaying for a home, keep your emotional side locked and check the prices of similar houses in the area to avoid being ripped off. 

Putting the pen on paper too soon 

Generally, before you purchase a house, you need to sign a contract and pay a deposit. However, don't get too excited and sign the contract immediately you make the decision. Take your time to read through every line of the agreement. Also, get a seasoned lawyer or property professional to guide you, to ensure your interest comes first and insert any needed clauses. It is tough to make changes once you sign a contract.

Although buying a house can be an emotional experience, it is also an exciting time. Avoiding emotional mistakes, doing your research and keeping a calm head should help you to get a good home that meets all your needs.




Categories: Real estate   homebuyers   buying tips  


Posted by Classified Realty Group on 3/5/2019

Historic homes are coveted by many for their charm. Some want a home with history while others one with “good bones” of bygone construction methods. Whatever your motivations one thing is clear: owning a historic home is a rewarding experience.

This is usually due to the effort, time and investment put into maintaining the home’s old world charm. Those who take on a historic home should be ready for a project in some capacity either right after buying or down the line.

Maintaining, and sticking to, the classic style and shapes while working under stylistic limitations takes time and effort. Be sure that when purchasing a historic home it’s one of an era whose style you really like. This is because many historic homes have what is called an easement in place. What an easement does is dictate what owners of that particular estate can and can not do to the home to maintain its historical integrity. This can limit everything from additions to siding color.

Historic homeowners should also be ready to get creative during the renovation process. Old houses have their quirks, it’s best to embrace this when making changes and to work with them - not against them. Knocking out walls and shaving down flooring to be perfectly symmetrical compromises the entire structure’s historic roots. If you absolutely must have perfect walls and flooring a historic home is probably not for you.

With that said when viewing homes ensure that any crookedness is from settling over time and not from damage to the sill plate. The sill plate is the topmost part of the foundation and especially vulnerable due to this placement along ground level. If there is damage to the sill plate know that the entire structure of the home is also compromised and in need of serious, and expensive, attention. If this is the case, it’s best to walk for most homeowners.

A warped or compromised sill plate can also mean water damage. Another sign to look for water troubles is a sump pump in the basement. You want to keep an eye out for water damage, as this is a very serious threat to the structure and can also attract all kinds of bugs.

If you have your heart set on a historic home but find all of this overwhelming a historic home expert, either a contractor who specializes in historic homes and/or a local historian that restores homes, can help you significantly through the process. In fact, overwhelmed or not it’s best to bring an expert on board during your buying process. This person should be in addition to your home inspector - not in place of. You also want to be sure to find someone who understands that you want to preserve and restore a historical home and not just gut the building.

Plan your budget well. While restoring a home is usually a passion project for many you still don’t want to overinvest and end up taking a huge loss if you eventually resell. Know what restoration projects in your area typically go for and use these as a guideline for your own budget.

Don’t be afraid to start small if you are on a tight budget or this is your first restoration project. These projects can take years so when planning start here first: roof, windows, and masonry. Create a watertight home first to prevent any further potential damage.

The good news about historic homes is that there are plenty of grants and tax programs for homeowners planning on restoration. Not every loan option will be available to you if the home requires major work but there are loans available specifically for major repairs such as the 203k. Know your options before you start looking as this will a major determination factor of your budget and the degree of work you’ll be able to put into a home.






Posted by Classified Realty Group on 11/11/2014

Some people think that bigger is better even when it comes to buying a home. Before you buy the biggest house your budget allows you may want to consider if the size of the home is what will make you a happy homeowner. Besides the size of the home there are many other factors to consider, here are a few things you may want to think about when buying: Your Commute Often times a bigger home is one that has a longer commute. So would you choose a bigger home over a shorter commute? When considering a longer commute most home buyers significantly underestimate the negatives of a long commute like high stress levels, poorer health, and less active social lives.  Swiss economists, Bruno Frey and Alois Stutzer coined what they call “the commuters paradox”. They found that someone with a one-hour commute must earn 40% more money than someone who walks to work to be as satisfied with life. Community Another thing that can affect buyer satisfaction is the quality of a surrounding community Think about the community your home would be in. Is it a subdivision? Do you have to drive to get places? How far away are neighbors or stores? Walkable communities have more active residents, they are better for the environment and help us save money too. Studies have shown residents of a walkable neighborhood on average weigh 6 to 10 pounds less than someone in a car-dependent one. Walkable neighborhoods also give us more opportunities for social interaction. The more neighbors walk around the more involved they are in the community. Ultimately the more community involvement the happier people are.