Donahue Real Estate Company



Posted by Donahue Real Estate Company on 10/17/2018

With rent prices shooting soaring across the country, many young Americans who were previously happy renting while they saved for a home are now turning to other options.

One common solution is a starter home. If you want to keep your monthly mortgage prices low while being able to build equity and slowly save for your “forever home.” a starter home can be a great option for first-time buyers.

When does it make sense to buy a starter home?

Buying a home means mortgage payments, home maintenance and repairs, and closing costs. However, they can also be a great introduction to the responsibilities of homeownership.

Better yet, starter homes allow you to build equity that can be used toward the down payment of your next home, something that first-time buyers often struggle with. This could help you secure a lower interest rate and avoid costly private mortgage insurance (PMI).

Sounds great, right? But when shouldn’t you buy a starter home?

It might not make sense to buy a starter home if you don’t plan on living in it at least 3-4 years. You might find that the cost of renting is less than that of your mortgage payments and closing costs if you don’t live in the home long enough to reap the rewards.

It also might not be a good idea if your family is going to outgrow a small home in the next few years for the same reasons mentioned above. That makes it all the more important to discuss your long term plans with your spouse before considering a home.

Things to look for in a starter home

1. Resale value

One of the most important aspects of your starter home should be the ability to resell it in the future. Now, there is an endless number of factors that go into the marketability of a home. Key factors include the condition of the home and keeping it well-maintained, as well as the location of the home. Buying a starter home in an area that will attract young professionals down the road is typically a good investment.

2. Small size = low price

It probably goes without saying, but finding a home with a low price, at the expense of square-footage, is most often a smart choice when it comes to starter homes.

Small homes are cheaper to buy, cheaper to heat, and cheaper to maintain. However, since housing prices are trending upward, you’ll likely still see a positive return on your investment in ~5 years time when you’re hoping to buy again.

3. Reasonable home improvements

If you can spare the time, buying a starter home that needs some work can be an excellent investment. It can be more difficult later on when you have a large family to care for and less time to focus on making improvements.




Tags: first home   starter home  
Categories: Uncategorized  


Posted by Donahue Real Estate Company on 10/10/2018

A home showing may play a key role in your ability to sell your house. If a showing is successful, a buyer may submit an offer in the hours or days that follow. On the other hand, if a home fails to impress during a showing, a buyer likely will continue to search for the perfect residence.

It can be easy to ensure that a home showing is successful. Now, let's take a look at three steps that home sellers can follow to increase the likelihood of a successful showing.

1. Clean Your Home

A neat, tidy home is likely to make a positive first impression on potential buyers. Therefore, you should allocate the necessary time and resources to clean your home from top to bottom prior to a showing.

Mow the front lawn, trim the hedges and perform assorted home exterior maintenance. That way, you can instantly boost your house's curb appeal.

Also, wipe down countertops, vacuum carpets and complete various home interior maintenance. By doing so, you can guarantee that potential buyers will like what they see as soon as they walk through your home's front door.

2. Remove Personal Belongings

The goal of a home showing is to help a potential buyer envision what life would be like if he or she purchases your house. As such, you'll want to take down artwork, photographs and any other personal belongings before a home showing. Because if you keep these items on display, it may be tough for a buyer to picture himself or herself as the owner of your home.

Don't forget to eliminate as much clutter from your home as possible too. If you put excess items in storage or sell or donate these items, you can cut down on clutter and show off the true size of your residence.

3. Be Flexible

After you perform extensive home interior and exterior cleaning and remove myriad personal belongings from your residence, it may be only a matter of time before a home showing is scheduled. If you remain flexible, you can boost your chances of hosting as many home showings as possible.

There is no telling when a prospective buyer will want to check out your residence. Thus, if you maintain your flexibility, you'll be ready to leave your house at a moment's notice to accommodate a buyer's request for a showing.

After a home showing, you may receive buyer feedback as well. If a buyer leaves negative feedback about your residence, there is no need to worry. Use this feedback to identify and address problem areas in your house, and you can guarantee that future home showings hit the mark with buyers.

Lastly, if often helps to work with an expert real estate agent when you sell your house. This housing market professional is happy to help you get ready for a home showing and will offer honest, unbiased home selling recommendations. As a result, a real estate agent can help you get the best possible results throughout the home selling process.




Categories: Uncategorized  


Posted by Donahue Real Estate Company on 10/3/2018

Want to add your house to the real estate market? Work with an expert real estate agent, and you can streamline the home selling process.

A real estate agent can make a world of difference for any home seller, at any time. This housing market professional will teach you the ins and outs of selling a home and ensure you can get the best price for your residence. Plus, he or she will be ready to respond to your home selling questions and provide consistent support as the home selling journey progresses.

Ultimately, it is important to understand what it takes to work with a real estate agent. This will allow you to maintain a positive approach throughout the home selling process. It might help you improve your chances of a quick sale too.

What does it take to work with a real estate agent? Here are three rules that every home seller should consider.

1. Hire a Real Estate Agent That Makes You Feel Comfortable

Selling a home can be stressful, particularly for a first-time property seller. Fortunately, working with the right real estate agent ensures you can receive world-class home selling guidance.

As a home seller, you should employ a real estate agent that makes you feel comfortable. This housing market professional will be able to alleviate your home selling concerns and guarantee you are fully supported at each stage of the home selling journey.

2. Keep the Lines of Communication Open at All Times

What good is a real estate agent if he or she won't keep you up to date about home showings, offers on your residence and homebuyer feedback?

For a home seller, it is paramount to collaborate with a real estate agent who can provide immediate assistance. This housing market professional should be ready to communicate with you via phone, email and text and provide regular updates throughout the home selling cycle.

Your real estate agent also should be unafraid to be honest with you. That way, you can receive unbiased suggestions and recommendations from your real estate agent that can help you make informed home selling decisions.

3. Understand That Problems May Arise During Home Selling Process

Although a real estate agent will do everything possible to promote your house to the right groups of property buyers, it is vital to remember that the real estate market offers no guarantees. In addition, problems sometimes may arise that may slow down the home selling journey.

Your real estate agent should be able to describe challenges that you may encounter before you add your residence to the housing market. This will enable you to plan ahead and allocate the necessary time and resources to reduce the risk of such problems.

Hiring a real estate agent to help you sell your house may seem difficult at first. But with the aforementioned tips, you can find an expert real estate professional who will make it easy for you to sell your residence.




Categories: Uncategorized  


Posted by Donahue Real Estate Company on 9/26/2018

You likely aspire to sell your house as quickly as possible. However, you may not need to set a deadline for selling your residence to achieve your desired result. In fact, there are lots of things you can do to speed up the home selling journey, including:

1. Boost Your House's Curb Appeal

A home that boasts amazing curb appeal may draw buyers' attention as soon as it becomes available. Lucky for you, it may be easy to bolster your house's curb appeal in no time at all.

To improve your home's curb appeal, you may want to complete assorted home exterior upgrades. Mowing the grass and eliminating weeds, for example, could make your front lawn stand out to buyers. Or, if you have cracked or damaged home siding, you can always devote time and energy to repair it.

Of course, if you need help with home exterior enhancements, you can reach out to home improvement professionals. If you have home improvement pros at your side, you can accelerate the process of upgrading your house's curb appeal.

2. Establish a Competitive Initial Asking Price

The initial asking price of your home should account for the age and condition of your residence, along with the current state of the real estate market. That way, you can set a price for your home that falls in line with buyers' expectations.

Generally, it helps to conduct an appraisal before you list your residence. An appraisal report is based on a wide range of factors, including the prices of comparable homes in your city or town. Therefore, if you perform an appraisal, you could receive a property valuation that helps you determine how to price your home competitively.

3. Work with a Real Estate Agent

As a home seller, it never hurts to receive expert support as you navigate the property selling journey. Fortunately, real estate agents are available nationwide, and these housing market professionals can offer great insights into what it takes to quickly sell a house.

A real estate agent first will learn about you and what you hope to accomplish. Next, a real estate agent will develop a plan designed to help you achieve your home selling goals. You and your real estate agent then will put this plan into action and adjust it as needed. Perhaps best of all, if you receive an offer to purchase your home, a real estate agent can help you decide whether to accept, reject or counter this proposal.

Furthermore, a real estate agent can help you bolster your home's curb appeal, establish the optimal initial asking price for your home and much more. And if you have any concerns during the house selling journey, a real estate agent is ready to respond to them right away.

For those who want to speed up the home selling journey, it helps to prepare. Thanks to the aforementioned tips, you can list your home, ensure it generates significant interest from buyers and move quickly to finalize a house sale.





Posted by Donahue Real Estate Company on 9/19/2018

If you've been pre-approved for a mortgage, you can enter the housing market with a budget in hand. In fact, this mortgage will enable you to spend up to a certain amount on a house. But in many instances, it pays to buy less house than what you can actually afford.

Ultimately, there are many reasons to consider purchasing a house below your means, such as:

1. You might not have to worry about significant home maintenance.

A small house likely means less home maintenance than would be required in a large house. Therefore, you may be able to spend less time worrying about keeping your residence looking great if you acquire less home that what you can afford.

Of course, let's not forget about the money that you might save by purchasing an affordable residence. If you buy an inexpensive home, you may be able to use the money that you save to hire professional home cleaners, landscapers and others to help you enhance your residence's appearance.

2. You'll be better prepared than ever before for unexpected expenses.

There is no telling when a family emergency, natural disaster or other dangerous situations may arise. Fortunately, if you spend less on a house now, you may be better equipped than ever before to handle the expenses commonly associated with these unforeseen events.

Purchasing a cheap house may prove to be valuable if you encounter costly, time-intensive home repairs down the line too.

For example, your home's roof won't last forever, and you likely will need to fix or replace it at some point. But if you purchase a budget-friendly home, you may be able to save extra money that you can use to cover the costs associated with various home repairs.

3. You'll have more money that you can use to personalize your house.

The money that you save on a house today may be used to upgrade your home both now and in the future.

For instance, if you want to install a deluxe swimming pool or fire pit in your backyard, spending less on a house now may provide you with the financial resources that you need to fund these projects. And if you complete a broad range of home renovations, you may be able to increase your house's value as well.

Deciding how much to spend on a house can be a tough decision for any homebuyer, at any time. If you collaborate with a real estate agent, you can explore a vast array of residences that fall within your price range.

A real estate agent will learn about your homebuying goals and tailor your home search accordingly. He or she also will set up home showings, keep you informed about new residences that become available and ensure that you can discover a home that matches or exceeds your expectations.

Consider your budget closely as you prepare to kick off a home search. By doing so, you should have no trouble finding a terrific house at an affordable price.