Linda Costanzo's Blog
A three season room can be a really great investment for your home. This addition really allows for the enjoyment of the great outdoors without exposing you to the elements. It’s an investment that gives a maximum return.
When you decide to install a three season room, there are a few things that you should consider. First, you’ll need to estimate the costs of building the room. How much you’ll spend varies based on the finishes that you choose, the materials used, and the area of the country that you live in.
When you undertake any kind of home improvement project you should obtain estimates first. This way, you’ll have an idea of just how much the project will cost. Contractors will also give you an idea of how they will go about completing the project in order to meet your needs. It’s a good idea to know how much demolition is needed and how long the project will take. This will vary by contractor.
Think Of Using Existing Structures
Using existing structures on your home can really help to cut down the cost of building a three season room. Your current porch or deck area may even have the ability to be enclosed. If the structures are sound, it’s a great option. Remember that a three season room needs glass, a sturdy floor, screens and windows to be complete!
Match The Roof
You’ll want to match the roof of your three season/sunroom with the existing roof of your home. Choose from a variety of styles from simple to the elaborate. Just be sure that the new roofing doesn’t stick out too much. You can even add a skylight in the new addition to let more light in.
You want to be sure that you get an accurate estimate for building your three season room. The contractor should include all of the following areas in the estimate:
- The foundation
- The frame
- HVAC hookups
It should be noted that along with building materials, the cost of labor should be included along with the estimate. Carpenters charge a set rate per hour as do electricians and plumbers. You’ll most likely need a few different contractors in order to complete your three season room, so take that into account.
No matter what part of the country that you live in, you will always be happier if you maximize your enjoyment of the outdoors. Completing a 3 season room can help you and your family to enjoy nature all year round.
Your credit score is a fundamental component of a mortgage lender’s decision to approve you for a loan. It can also affect the interest rate and loan amount you can secure.
Along with your income history and down payment, a solid credit score is one of the three most important things you’ll need when it comes to buying a home.
Credit scores themselves, however, can be a complicated business. And finding out what score you need to buy a home and how to achieve that score can also be a complex topic.
So, in this post we’re going to break down some credit score basics as they relate to buying a home.
Types of credit scores
You may have heard of the three main credit bureaus, TransUnion, Experian, and Equifax. Each of these bureaus keeps a detailed credit history for everyone in America (except for those who have yet to open a line of credit or take out a loan).
Since each credit bureau may have slightly different information available data to draw from, your credit scores from each company may vary.
However, when it comes to buying a home, most lenders use a standard scoring model called a FICO score to ensure that all mortgage applicants are treated fairly when they seek a loan.
Things are further complicated by the fact that there are several different FICO scoring models designed for different types of credit. So, if you’ve seen your FICO score when applying for an auto loan, it may be a different score than you will see when applying for a mortgage.
Build credit; raise your credit score
All of the types of credit scores and scoring models can be confusing. But what you mostly need to worry about is how to boost your score.
Your credit score will be based on five main factors:
Making on-time payments
The percentage of available credit (not maxing out your cards)
Having diverse types of credit (auto loans, student loans, credit cards, etc.)
Not opening new lines of credit frequently (a red flag that you’re struggling financially)
The length of your credit history, or how long you’ve been consistently paying your bills
What score do you need to buy a home?
There are several different mortgage types available for buyers. First-time homeowners, veterans, people seeking to buy a home in a rural area, and any other number of circumstances can help you qualify for mortgages even if you have a low credit score.
A general rule, however, is that it’s always better to apply for a mortgage with a high credit score to help you secure the best possible interest rate.
Some programs do have minimum credit scores that they will accept for a mortgage. FHA loans are one common example. The Federal Housing Authority guarantees loans for people across the country who are hoping to buy their first home (or who haven’t owned a home in the last three years). Their guarantee is what enables lenders to safely approve mortgages for borrowers with low credit scores. The current requirement for an FHA loan is a credit score of 580 or higher for a mortgage with a 3.5% down payment. You can secure an FHA loan with a lower credit score, but you’ll have to make a larger down payment.
There are several other options available for hopeful homeowners when it comes to mortgages. But, if you aren’t planning on moving in the next few months and your credit score could use some work, now is the time to start focusing on building credit.
An offer to purchase represents a key milestone in the homebuying journey. Ultimately, it helps to plan ahead to ensure you're ready to submit a homebuying proposal. Because if you know what it takes to put together a competitive offer to purchase a house, you can boost the likelihood that a home seller accepts your proposal.
Now, let's take a look at three tips to help you get ready to submit an offer to purchase.
1. Study the Housing Market
The housing market fluctuates frequently. As such, you may enter a real estate market that favors buyers but slowly shifts into sellers' favor, or vice-versa. But if you examine the real estate sector closely, you can differentiate a buyer's market from a seller's one and submit an offer to purchase that accounts for the current housing market's conditions.
If homes are selling quickly at or above their initial asking prices, you may be working in a seller's market. Comparatively, if houses linger on the real estate market for many weeks or months before they sell, you may be operating in a buyer's market. As you start to craft an offer to purchase a house, you should analyze the real estate market. By doing so, you can submit an offer to purchase that matches a seller's expectations.
2. Get Your Finances in Order
Entering the housing market with a budget in hand usually is beneficial. If you get pre-approved for a mortgage, you can narrow your house search and stick to a budget as you pursue your dream residence.
Banks and credit unions can teach you everything you need to know about fixed- and adjustable-rate mortgages. Perhaps best of all, lenders employ mortgage specialists who can respond to your mortgage concerns and questions. If you collaborate with a lender today, you can get the financing you need to buy a house. Also, you can conduct a search for homes that fall within your price range and reduce the risk of submitting an offer to purchase that surpasses your budget.
3. Avoid a "Lowball" Offer
Submitting a "lowball" offer to purchase a home may seem like a good idea at first. Yet submitting a homebuying proposal that falls short of a seller's expectations is unlikely to help you acquire your dream house.
In most instances, a seller will instantly reject a lowball offer to purchase. And if you receive an immediate "No" from a seller, you risk missing out on the opportunity to purchase your ideal residence.
Allocate time and resources to craft a competitive homebuying proposal – you'll be glad you did. Otherwise, you run the risk of putting together a lowball offer that will miss the mark with a seller and force you to look elsewhere to purchase a house.
Lastly, if you need extra assistance as you perform a house search, you may want to hire a real estate agent. By employing a real estate agent, you should have no trouble crafting a competitive offer to purchase any home, regardless of the housing market's conditions.
Let's face it – in today's fierce real estate market, home sellers need any competitive advantage that they can get. Lucky for you, real estate agents are available to ensure that you can maximize the value of your residence.
After you hire a real estate agent, the home selling may move quickly. In fact, the most common steps associated with the home selling process include:
1. Prepping Your House
As a home seller, you'll want to do everything possible to ensure that your residence looks great both inside and out.
Your real estate agent can help you prep your house before it is listed on the housing market. He or she may offer tips about how you can transform your home's ordinary interior into an exceptional one. Plus, your real estate agent can put you in touch with home cleaning companies, landscapers, painters and other home improvement professionals who can help you take your home's appearance to the next level.
2. Hosting Open Houses and Home Showings
Open houses and home showings represent essential parts of the home selling and homebuying cycles. For home sellers, these events enable you to showcase your residence to a large group of homebuyers quickly. Meanwhile, open houses and home showings enable homebuyers to browse a wide range of properties without delay.
Your real estate agent will keep you up to date about open houses and home showings. This real estate professional will always provide you with sufficient notice any time a homebuyer wants to check out your home as well.
Hosting open houses and home showings can be stressful, particularly for home sellers who have already committed substantial time and resources to improve their properties. Fortunately, your real estate agent will set up plenty of open houses and home showings to generate substantial interest in your property. He or she also will share homebuyers' feedback with you, ensuring that you can complete myriad home maintenance and upgrade projects as needed.
3. Responding to Home Offers
After your home reaches the real estate market, it may be only a matter of days before you receive your first offer.
Your real estate agent will inform you about any offers on your residence, and you likely will have 24 to 48 hours to determine whether to accept, decline or counter a homebuyer's proposal.
Although you only have a short amount of time to assess a homebuyer's offer, your real estate agent is happy to help you determine how to proceed. This real estate professional will enable you to establish realistic expectations for your home before you list your property. That way, you'll be able to see how your home stacks up against the competition and price it properly.
Furthermore, your real estate agent will negotiate with a homebuyer on your behalf. And if you don't feel comfortable with an offer on your home, your real estate agent will respond to a homebuyer's proposal accordingly.
There is no need to stress when you sell your home. If you hire an experienced real estate agent, you should have no trouble accelerating the home selling process and optimizing the value of your residence.
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