Donahue Real Estate Company



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

Purchasing a home should be fun, memorable process. However, many homebuyers struggle with fears as they embark on the process of acquiring their dream homes.

Some of the most common homebuying fears include:

1. I will pay too much for a house.

Overspending on a house is a common fear among homebuyers nationwide.

If you pay too much for a house, you may struggle to afford the monthly payments for the duration of your mortgage. Perhaps even worse, your house may lose value over time. And if you eventually decide to sell your home, you may be forced to accept less than what you initially paid for it.

Ultimately, an informed homebuyer will understand the differences between a buyer's market and a seller's one. He or she will be able to determine whether a home is affordably priced and proceed accordingly.

An informed homebuyer also will know the importance of getting pre-approved for a mortgage. With a mortgage in hand, this homebuyer will understand exactly how much that he or she can spend on a house.

2. I'll wait too long to submit an offer on a residence.

If a homebuyer is uncertain about buying a particular house and waits too long to submit an offer, he or she risks missing out on this residence altogether.

Fortunately, there is a simple way to avoid this problem.

A homebuyer who knows what he or she wants to find in a dream home can narrow a home search. Then, if the homebuyer discovers a home that matches or exceeds his or her expectations, this individual can submit an offer right away.

Don't forget to submit a competitive offer, i.e. one that accounts for the needs of both a homebuyer and home seller, as well. A competitive offer will stand out from other proposals and increase a property buyer's chances of securing his or her dream residence.

3. I'll buy a home that will fail to maintain its long-term value.

What you pay for a home today is unlikely to remain the same over the course of several weeks, months or years. But a homebuyer who employs an expert home inspector can learn about a house's strengths and weaknesses and ensure a property is a viable long-term investment.

A home inspector will conduct an assessment of a house after a property seller accepts a buyer's proposal. At this point, an inspector will examine a house's interior and exterior and identify any potential issues. Lastly, a home inspector will issue a report with his or her findings, and a homebuyer will have a final opportunity to modify or rescind an offer on a house.

For homebuyers, it is important to work with a trusted home inspector Ė you'll be glad you did. This home inspector will go above and beyond the call of duty to evaluate a house before you finalize a home purchase.

Working with an experienced real estate agent may benefit a homebuyer too. With a top-notch real estate agent at your side, you can get the support you need to acquire a first-rate home that will maintain its value both now and in the future.




Categories: Uncategorized  


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.





Posted by Donahue Real Estate Company on 9/5/2018

The factor that has the most impact on your home search is your finances. Youíll need to save a significant amount of money. Itís not easy to save when you have continuous monthly bills and responsibilities. Read on for tips on how to get your finances under control in order to save the amount of money it takes to buy a home.  


Do A Budget  



Once you have decided to buy a home, the first thing you should do is take a good look at your finances. A budget is critical when you buy a house because it tells you how much youíll have to spend on your mortgage. Doing this ahead of time will allow you to maximize your income and make adjustments ahead of time as needed. Donít forget that even though youíre buying a home, you still need some savings in addition to all of your other monthly expenses. Your budget should be outlined as follows:


  • Necessities
  • Monthly utility spending 
  • Insurance bills
  • Entertainment expenses
  • Grocery spending


Basically, you want to write down how much money is coming in and where all of the money is going. Thatís a budget in a nutshell. See where you can cut back. What youíre left with is the amount you can save each month. You may want to do this on a percentage basis rather than a flat dollar amount. 


Get A Separate Account


The most straightforward things to do when you start saving for a home is to put all of your money for your house fund into a separate account. This way you can automatically transfer money in, and youíll be less likely to spend any of the money if you donít see it.


Sacrifice The Small Things


Can you take some hand me downs for your kids? Maybe you can start packing a lunch for work instead of buying lunch. Can you cut the cord on cable? It may be hard to sacrifice small luxuries, but these expenses can add up. If you cut these out of your budget, youíll have a little more wiggle room to save for a home purchase. Youíll be surprised how much money you can save just by doing little things. Your morning latte is probably around $5. You could save at least $25 per week by merely making coffee at home! Thatís a saving of over 1,200 per year!   


While saving for a home can seem overwhelming, if you take it in small chunks, youíll be see the results of your efforts rather quickly. 





Categories: Uncategorized  


Posted by Donahue Real Estate Company on 7/25/2018

Confidence can play a major role in the homebuying journey. If a homebuyer is confident in his or her ability to evaluate a house, this individual may be better equipped than others to complete a successful home purchase. Conversely, a homebuyer who lacks confidence may struggle to identify his or her ideal residence, resulting in a long, arduous homebuying journey.

Becoming a confident homebuyer may be easier than you think. In fact, there are several key attributes of successful homebuyers, and these traits include:

1. Resourceful

A confident homebuyer makes the most of the time and resources at his or her disposal. By doing so, this buyer can identify housing market patterns and trends and map out a successful homebuying journey.

Typically, a confident homebuyer performs deep real estate market data analysis. By obtaining comprehensive housing market insights, this buyer can take an informed approach to purchasing a residence.

2. Conscientious

A confident homebuyer is willing to do what it takes to acquire a home. As such, he or she will take a conscientious approach to the homebuying journey, as well as ensures that both a buyer and seller can achieve the optimal results.

For example, a confident homebuyer may be willing to negotiate with a seller to determine a price that works for both sides. This buyer also may make sacrifices along the way to guarantee a home sale is a seamless transaction for all parties involved.

3. Persistent

A confident homebuyer has a no-quit attitude and will go above and beyond the call of duty to purchase a terrific house at a price that fits within his or her budget. Therefore, this buyer displays persistence throughout the homebuying journey.

With a persistent attitude, a homebuyer can boost the likelihood of discovering his or her dream house. This buyer will keep track of new houses in cities and towns where he or she would like to live. And if the right home becomes available, this buyer won't hesitate to submit a competitive offer on it, either.

When it comes to buying a house, it helps to enter the real estate market with plenty of confidence. If you consult with a real estate agent, you can build your homebuying confidence in no time at all.

Oftentimes, a real estate agent will meet with a homebuyer and learn about this individual's goals. A real estate agent then will help a buyer plan for the homebuying cycle, ensuring he or she is fully supported at each stage of this process.

A real estate agent also is an expert resource to a homebuyer. And if a homebuyer has any questions throughout the homebuying journey, a real estate agent is happy to provide responses.

For those who are ready to pursue their dream home, it helps to become a confident homebuyer. If you collaborate with a real estate agent, you can enter the real estate market with the confidence that you need to thrive.




Categories: Uncategorized  


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 Ė 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.




Categories: Uncategorized