Donahue Real Estate Company



Posted by Donahue Real Estate Company on 7/11/2018

Buying a new home is a joyous occasion, one that should be celebrated by family members and friends. However, telling people about a new home purchase sometimes can be tough, particularly for those who may be leaving roommates or others behind.

Lucky for you, we're here to help you alleviate the stress and worry commonly associated with telling family members or friends about a new home purchase.

Here are three tips to ensure you can remain calm, cool and confident as you inform your loved ones about your decision to buy a new home.

1. Prepare As Much As You Can

Purchasing a house is a life-changing decision, and as such, your loved ones may have concerns. Therefore, you should plan ahead for any questions that you could face about your new house.

Why did you decide to buy a home in a particular city or town? How much did you pay for a house? And what does your home purchase mean for your loved ones? These are just some of the questions that you should prepare to face when you share the news about your new home purchase with loved ones.

Also, it is important to realize that you and your loved ones won't always see eye to eye. And if a family member or friend disagrees with your home purchase, accept his or her opinion and move forward.

2. Take a Proactive Approach

When it comes to informing others about your home purchase, it is always better to err on the side of caution. Thus, taking a proactive approach will ensure you can directly inform the most important people in your life about your home purchase.

Communication is key between family members and friends. With a proactive approach, you can inform your loved ones about your homebuying decision and minimize the risk that they will hear the news from a third-party.

Don't leave anything to chance as you determine who to tell about your home purchase. If you believe there is a risk that a loved one will be left in the dark about your new home, be sure to reach out to this individual directly.

3. Understand the Emotions Involved with a New Home Purchase

A new home purchase represents a new opportunity for you and your family. If some family members and friends feel left out of your upcoming move, many emotions may bubble to the surface.

Keep the lines of communication open with family members and friends – you'll be glad you did. That way, loved ones can share their thoughts and feelings about your new home purchase and understand you will allocate the time needed to hear them out.

If you need extra help as you get ready to tell loved ones about a new home purchase, don't be afraid to ask your real estate agent for assistance, either. This real estate professional understands the intricacies of purchasing a home and can provide expert guidance throughout the homebuying journey.




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Posted by Donahue Real Estate Company on 7/4/2018

Saving for a down payment on a house can seem like an insurmountable challenge to first-time homebuyers. You don’t have the benefit of equity built from owning previous homes, and most, if not all, of your income could be tied up in other places like paying rent and bills.

If this sounds like you, don’t worry--you’re not alone. The good news is that there are some other things you might try before giving up on saving for a down payment.

In today’s post, we’re going to discuss a few techniques for saving for a down payment that you might not yet have thought of, and talk about how to can start saving sooner rather than later.

1. Know your options

Many first-time buyers aren’t aware of all of the different mortgage types that may be available to them. VA loans, USDA loans, and more are all available to buyers who don’t have a large down payment saved up.

There’s also the common myth that your down payment needs to be at least 20% percent of the cost of the home. However, this number is more like an ideal figure that will allow you to avoid paying private mortgage insurance (PMI).

Before determining how much you need to save, make sure you understand all of your options.

2. Learn the art of budgeting

Most of us use the term “budget” as a vague word that means the amount of money we can spend.

The true point of a budget, however, is to gain a detailed understanding of where your money goes and to develop a plan.

One good method of budgeting is to do what budget experts call, “giving every dollar a job.” This means that you know where each dollar o your paycheck will go.

There are many tools available for you to use when budgeting. You can use a free app like a spreadsheet from Google Sheets, or a service that connects you your bank account like Mint. Mint will also let you set goals (such as saving for a down payment) so you can track your progress.

3. Asking for a raise

Depending on how long you’ve been at your job and your work performance, it might be time to ask your employer for a raise up front. Many employers are more than happy to reward hard work and dedication, but just don’t hand out money if they aren’t asked.

4. Start that side hustle

There are a lot of ways to earn extra money in a service economy. From waiting tables at night to delivering packages for Amazon, and giving lifts in your car for Uber, there are numerous ways to earn some extra cash in the evenings.

Just remember that you want this project to be something that’s enjoyable or interesting, otherwise it’s easy to burn out from overwork.

5. See if you have employee assistance options

Some employers offer housing assistance programs to their employees as a work benefit. If you haven’t flipped through your HR packet in a while, now might be a good time to make sure you’re taking advantage of your options.





Posted by Donahue Real Estate Company on 6/6/2018

Let's face it – purchasing your dream home may prove to be an uphill climb, particularly for a homebuyer who fails to prepare accordingly. Lucky for you, we're here to help you make your homeownership dream a reality and ensure you can discover your ideal residence in no time at all.

Now, let's take a look at three tips to help you get ready to pursue your dream house.

1. Establish Homebuying Criteria

Finding your ideal house can be quick and easy if you establish homebuying criteria before you launch a home search. In fact, with homebuying criteria in hand, you can narrow your house search and speed up the homebuying journey.

To create homebuying criteria, you first should think about cities and towns where you want to live. Next, analyze houses in your preferred cities and towns and consider home must-haves and wants. Once you know exactly what you want to find in your dream house and where you want to reside, you can schedule home showings and move closer to finding your ideal house.

2. Get Pre-Approved for Home Financing

Homebuyers rarely have all the money they need to buy a home. Thankfully, banks and credit unions offer a wide range of mortgage options to make it simple for homebuyers to purchase residences. And if you meet with banks and credit unions, you can review your mortgage options and get pre-approved for home financing.

Obtaining a mortgage may help you streamline your house search because it enables you to establish a homebuying budget that you can use to hone your quest to find your dream home. Perhaps best of all, getting pre-approved for a mortgage may help you resist the temptation to spend beyond your means to purchase your ideal residence.

3. Hire a Real Estate Agent

Navigating the housing market on your own can be challenging for first-time and experienced homebuyers alike. Fortunately, real estate agents are available who can help you take the guesswork out of pursuing your dream house.

A real estate agent is a housing market expert who understands what it takes to complete a successful home search. He or she will meet with you, analyze your homebuying goals and map out a homebuying strategy. Then, a real estate agent will work with you to help make your homeownership dream come true.

As you conduct your home search, a real estate agent will keep you up to date about new residences that become available in your preferred cities and towns. He or she also will set up house showings and offer insights into the local real estate market. Furthermore, if you find your dream house, a real estate agent will help you craft a competitive offer to purchase this residence. And if your homebuying proposal ultimately is accepted, a real estate agent will guide you through the final stages of the homebuying process.

Start your search for your dream house – use the aforementioned tips, and you can boost the likelihood of a successful homebuying journey.




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Posted by Donahue Real Estate Company on 4/4/2018

Want to buy a house? If you plan ahead for the homebuying journey, you may be better equipped than ever before to reap the benefits of a seamless homebuying experience.

Now, let's take a look at three tips to help you prepare for the homebuying journey.

1. Figure Out Where You Want to Live

Do you prefer the hustle and bustle of the big city? Or, would you like to reside in a small town? Think about where you want to live, and you may be able to speed up the homebuying journey.

A homebuyer who narrows his or her search to houses in a set number of cities and towns may be able to quickly discover the ideal residence. Thus, if you know where you want to go, you can act fast to pursue your dream house. And once you find your dream home, it may be only a few weeks before you can finalize a home sale.

2. Obtain a Mortgage

A mortgage generally is a must-have for a homebuyer, regardless of where he or she decides to live. If you submit a mortgage application before you embark on the homebuying journey, you can enter the real estate market with a budget in hand.

Oftentimes, it won't take long to get pre-approved for a mortgage. You can meet with a variety of banks and credit unions, and these financial institutions can teach you about a wide array of mortgage options. Next, you can select a mortgage that satisfies your personal requirements.

When you meet with banks and credit unions, don't hesitate to ask plenty of questions, either. If you receive expert mortgage insights, you can make an informed mortgage decision that likely will serve you well for years to come.

3. Consult with a Real Estate Agent

Let's face it – pursuing a home should be a quick, easy process, but problems may arise that prevent you from buying your ideal residence. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you make your homeownership dreams come true.

A real estate agent is a housing market expert who can teach you how to discover a terrific house at a budget-friendly price. This housing market professional can explain the differences between a buyer's and seller's market and help you map out a successful homebuying journey. That way, you may be able to improve your chances of acquiring a superb residence if you hire a reliable real estate agent.

In addition, a real estate agent will serve as your guide along the homebuying journey. He or she will keep you up to date about new residences that become available, set up home showings and help you submit homebuying proposals. And if you ever have homebuying concerns or questions, a real estate agent is available to respond to them.

Achieve the best-possible results during the homebuying journey – use the aforementioned tips, and you can plan ahead to acquire your ideal residence.




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Posted by Donahue Real Estate Company on 3/28/2018

Believe it or not, the process of buying a home can become long and complicated. And if you're not careful, you may encounter many hurdles that prevent you from acquiring your dream residence.

Lucky for you, we're here to teach you about the ins and outs of buying a house and help you simplify the process of going from homebuyer to homeowner.

Now, let's take a look at three common misconceptions associated with buying a home.

1. You will be able to acquire a house in a matter of days.

The process of locating your dream home is unlikely to happen overnight. Instead, a homebuyer usually will need to perform extensive housing market research to discover a residence that meets or exceeds his or her expectations.

Typically, a homebuyer will look at several houses before he or she can find the right residence. This homebuyer then will need to submit an offer on a house. And if a home seller accepts the homebuyer's proposal, a home inspection will need to be completed before a home purchase is finalized.

It is important to set realistic expectations for your home search. In most instances, it may take a few weeks or months to find your perfect residence. But with a diligent approach to your home search, you'll be able to discover a house that can serve you well for years to come.

2. You will be able to buy a home for less than a property's initial asking price.

Understanding the differences between a buyer's market and a seller's market is essential for a homebuyer.

In a buyer's market, many high-quality residences are available. This market usually favors homebuyers, and in many instances, enables property buyers to secure great houses at budget-friendly prices.

On the other hand, a seller's market features a shortage of first-rate properties. As a result, this market favors home sellers, and many homebuyers may compete with one another to secure the best houses.

Regardless of whether you're operating in a buyer's or seller's market, it is paramount to avoid the temptation to submit a "lowball" offer on a residence. By doing so, a homebuyer can minimize the risk of missing out on an opportunity to acquire his or her perfect residence.

3. You can find your dream home without help from a real estate agent.

When it comes to buying a house, the early bird catches the worm. Therefore, an informed, persistent homebuyer is more likely than others to locate a terrific home at an affordable price.

Ultimately, working with a real estate agent is ideal. With a real estate agent at your side, you can receive expert assistance throughout the homebuying journey.

A real estate agent will set up home showings, keep you up to date about new houses as they become available and much more. He or she also will respond to your homebuying questions and ensure you can acquire a stellar home in no time at all.

Take the guesswork out of buying a house – collaborate with a real estate agent, and you can make your homeownership dreams come true.




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