Tag: home buying advice

The Top 5 Mistakes to Avoid When House Hunting in Portland

Posted on by Will Sing

Embarking on a house-hunting journey can be as daunting as it is exciting. With the Portland housing market’s unique dynamics, knowing what to look for in a home can save you from potential headaches and financial pitfalls. In this blog, we dive into the top five aspects you need to scrutinize to make an informed decision and secure a home that’s both a sanctuary and a wise investment. Watch the full video here for a detailed guide.

1. Inspect the Roof

The roof of a house does more than just top the structure; it protects everything underneath from water intrusion and other environmental elements. A well-maintained roof is crucial for the longevity of the home. Most roofs, such as those made from asphalt shingles, have a lifespan of 20 to 30 years, while metal roofs can last up to 100 years. Ensure the roof is in good condition to avoid costly repairs down the line.

2. Evaluate the HVAC System

Heating, Ventilation, and Air Conditioning (HVAC) systems are pivotal, especially in Portland where air conditioning isn’t standard due to historical building codes. Replacing an HVAC system can cost anywhere from $10,000 to $20,000. Before making an offer, verify the age and condition of the system to gauge any upcoming expenses.

3. Check the Water Heater

Who doesn’t love a hot shower at the end of the day? The water heater in your prospective home should be up to the task. Typically lasting 5 to 15 years, replacing a water heater can cost between $1,500 and $2,000. It’s important to check its current state and prepare for its replacement if it’s nearing the end of its lifecycle.

4. Assess Electrical Systems

Electrical systems are the lifeline of your home’s functionality. Older homes might have outdated systems like knob and tube wiring, which poses a fire hazard. Check the electrical panel brand; for instance, Federal Pacific panels are known to fail and could cost $4,000 to $8,000 to replace. Ensuring the electrical system is up to date will save you from potential dangers and expensive upgrades.

5. Plumbing and Pipes

From copper to PEX, the type of plumbing in a home can significantly impact its maintenance needs. Copper and PEX are preferred for their longevity and reliability. However, CPVC can become brittle, and galvanized pipes may corrode internally, leading to rusty water. Understanding what type of pipes are installed will help you anticipate maintenance or a complete replacement, which is crucial for long-term planning.

Bonus Tip: Structural Integrity

Lastly, don’t overlook the structure itself, including the foundation and walls. Signs of excessive sagging or diagonal cracks around doors and windows indicate undue stress. Horizontal cracks in the foundation are particularly serious, signaling potential structural failures.

Conclusion

House hunting is more than just finding a visually appealing space; it’s about ensuring the home you choose can stand the test of time without burdening you with unforeseen repairs. If these tips were helpful, consider subscribing to my instagram or youtube channel for more insights into navigating the real estate market effectively. For a deeper dive into what to watch out for when buying a home, check out our full video here.

If you are wanting a more in-depth chat, schedule a time to meet or contact me at hello@agentlivinginpdx.com

Your feedback is invaluable—drop us a comment below with your thoughts or additional tips you’d recommend. Happy house hunting!

Don’t Make These Mistakes During Your Home Inspection

Posted on by Kelsey Burkett

You can learn a whole lot about houses from a Home Inspection. In fact, they’re one of my favorite parts of my job for that very reason. That being said, when it’s a house you’re in the process of purchasing, it can be overwhelming if you don’t know what to expect. Here are the mistakes to avoid:

1. Not working with a trusted and knowledgeable Home Inspector. Buyers should ultimately choose who they work with and feel the most comfortable and confident in. We do have a short-list of vetted and trusted inspectors and can help you make an informed decision.

2. Not attending the inspection, or the findings recap at the end at the very least. Your Home Inspector will go over their overall, most important findings with you immediately following their inspection. They will follow up with a thorough, written report after that you can use as a long-term resource.

3. Following the Home Inspector around during the inspection. There are a TON of nooks and crannies that your Inspector is evaluating in just 3-4 short hours. Let them focus, leave them alone, hang out with your super cool Realtor and be available for questions if they pop up.

4. Being emotionally unprepared for the myriad of things that are likely to come up during the inspection. Inspections are meant to turn over stones and call out every little fix. Your Home Inspector and Realtor can help you prioritize what items are most pressing and which you can work to negotiate with the Seller.

5. Not reading the inspection report. This thing is thick, but it’s a WEALTH of knowledge. My partner and I created a Trello board/home maintenance to-do list from ours so we can prioritize and tackle things over time (reach out if you’d like tips on how to create your own).

Questions? Advice? Let’s chat. Happy to help. 971-371-0203 // kelsey@livingroomre.com // @kcb_portland.

Navigating Your Home Purchase: Who’s Who in a Real Estate Deal

Posted on by Will Sing

Understanding the Key Players in Your Home Buying Journey

Buying a home involves several key players, each with a unique role. In this blog post, I’ll walk you through the major roles in a real estate transaction, what they do, and how they help ensure a smooth process. Whether you’re a first-time buyer or an experienced investor, understanding these roles will give you the confidence to navigate your home buying journey.

The Real Estate Agent: Your Project Manager

First and foremost is your real estate agent. Think of your agent as the project manager of your home buying process. Their job is to guide you from start to finish. Here’s what you can expect from your real estate agent:

  • Scheduling Tours: Arranging viewings for properties you’re interested in.
  • Determining Comps and Offer Strategy: Helping you understand the market value and craft a competitive offer.
  • Negotiating Deals: Working to get you the best terms possible.
  • Scheduling Inspections: Coordinating necessary inspections to ensure the property is in good condition.
  • Connecting with Contractors: Providing referrals for any needed repairs or renovations.
  • Resource Direction: Guiding you to tax or legal professionals as needed.

The Lender: Securing Your Mortgage

Next is the lender, who plays a crucial role in securing the financing for your home. They will:

  • Pre-Approval Process: Help determine how much you can borrow and identify suitable loan programs.
  • Document Collection: Request necessary documents to process your loan application.
  • Loan Processing: Guide you through the steps to secure your mortgage, providing clarity on your financial obligations.

It’s essential to work with a lender who communicates effectively and who you can trust. Poor communication can jeopardize your transaction.

The Escrow Officer or Title Company: Ensuring Neutrality

The escrow officer or title company acts as a neutral third party in the transaction. Their responsibilities include:

  • Holding Earnest Money: Managing the deposit you make when your offer is accepted.
  • Facilitating the Closing: Ensuring all paperwork is completed and funds are distributed correctly.
  • Providing Title Insurance: Protecting you against any title disputes.

Home Inspectors: Assessing Property Condition

Home inspectors are like the primary care doctors for your new home. They meticulously examine the property to identify any potential issues. Key tasks include:

  • Detailed Inspections: Checking structural integrity, plumbing, electrical systems, and more.
  • Referrals to Specialists: Suggesting further inspections if they find potential problems.

The Appraiser: Determining Home Value

Appraisers assess the value of the home to ensure the lender is not over-lending. They are a neutral third party and you won’t have much direct contact with them. Their role is crucial for:

  • Valuation: Ensuring the home’s value justifies the loan amount.
  • Risk Mitigation: Protecting the lender from overextending credit.

The Insurance Agent: Securing Home Insurance

Home insurance is mandatory when buying a home. An insurance agent will:

  • Policy Selection: Help you choose the right insurance policy for your home.
  • Bundling Options: Provide options to bundle home insurance with other policies for discounts.

Other Key Players

Additional roles that may come into play include:

  • Transaction Coordinators: Assist with paperwork and ensure everything runs smoothly.
  • Home Warranty Providers: Offer warranties to cover potential mechanical issues.
  • Contractors: Provide estimates and complete any necessary repairs or upgrades.

Conclusion

Understanding the roles of these key players in a real estate transaction can help you navigate the process with confidence. If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

When Can I Move In? Understanding Possession Dates in Real Estate

Posted on by Will Sing

One of the most common questions buyers ask is, “When can I move in?” The answer depends on the possession date in your real estate contract. This date determines when you officially take ownership of your new home and can start moving in. Let’s explore three main scenarios for possession dates, helping you understand what to expect and how to plan your move.

1. Possession on the Closing Date

The most straightforward scenario is when your possession date matches the closing date. On this day, you sign all necessary documents, and the property becomes yours. Once your name registers with the title, you officially own the home and can start moving in immediately. This scenario is ideal for many buyers because it allows you to move in as soon as the deal closes.

2. Possession After the Closing Date

Sometimes, sellers need extra time in the property after the sale is finalized. In these cases, the possession date will be set for a few days or weeks after the closing date. For example, if your closing date is January 15th, you might agree to give the sellers two more weeks to move out. During this period, you own the property, but the sellers remain in the home, often paying you rent until they leave. This arrangement, known as a “rent-back” agreement, is common when sellers need more time to relocate.

3. Early Occupancy Before Closing

A less common scenario involves moving into the property before the closing date. While convenient, this option comes with risks. If the transaction falls through, you may have to move out before the deal completes, causing major inconvenience. Additionally, you will likely need to pay rent to the seller for the time spent in the home before closing. Early occupancy is typically reserved for special circumstances and requires careful consideration.

Planning Your Move-In Day

If your possession date is on the closing date, planning your move carefully is essential. Typically, you can expect to receive the keys to your new home by 3 PM, but it’s safer to aim for a 5 PM move-in. The exact time depends on when the title records. I will keep in close contact with the title company and update you promptly. If there’s a chance to get in earlier, I’ll notify you as soon as possible.

Have Questions? I’m Here to Help!

Understanding possession dates is crucial for a smooth transition into your new home. If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

From Frustration to Fulfillment: Hannah and Luke’s Journey to Finding Their Dream Home

Posted on by Will Sing

Buying a home is more than just a transaction; it’s a journey filled with hopes, dreams, and sometimes, challenges. For Hannah and Luke, the journey was anything but straightforward. They started out in a small 1-bedroom, 1-bathroom townhouse but dreamed of moving into a single-family home where they could start their family. However, after working with two different sets of realtors and feeling let down, they were starting to lose hope.

When Hannah and Luke found me, they were understandably cautious. We worked together on and off for about two years, with no pressure to rush into a decision that didn’t feel right. They appreciated that I wasn’t pushing them to buy just any house. My priority was to find them the right home—a place where they could envision their future. It wasn’t just about a transaction; it was about ensuring they found a home they would love for years to come.

The Turning Point: Finding “The One”

After seeing numerous houses, we finally found one that seemed perfect. But, as with many things in real estate, there was a potential “gotcha”—this time, it was the solar panels. The house itself was everything they wanted, but the solar panels came with a $40,000 loan, which was a huge shadow over the property. This was a significant concern for Hannah and Luke, and understandably so.

Guiding Through Negotiations: A Win for the Clients

I knew this was a deal-breaker for them, so I went into negotiation mode. We successfully negotiated for the seller to cover the entire $40,000 loan on the solar panels, ensuring Hannah and Luke wouldn’t have to take on that burden. Additionally, we secured $12,000 in closing costs covered by the seller—a huge win for my clients.

The key to these successful negotiations was preparation. I had worked closely with Hannah and Luke throughout the process, making sure they were ready to act when the right opportunity came up. A year prior, they had been pending on another house, but that deal fell through. From that experience, we learned the importance of being “patiently aggressive.” We were ready to jump on this house as soon as it hit the market, with all the necessary ducks lined up far in advance.

The Final Outcome: Thrilled with Their New Home

The outcome couldn’t have been better. Not only did Hannah and Luke move into their dream home in Tigard, OR, but they also walked away from the process feeling supported, informed, and truly cared for. Their feedback says it all:

“Where is the 6-star option?!?!?!? Will went well ABOVE AND BEYOND my expectations to get my wife and I our dream home after 2 years of searching with him. The best thing about Will is that he LISTENS to your input! He also provides excellent home advice from his personal experiences, is very proactive in communication, and is extremely patient. I can’t recommend working with Will enough!!!

Will was wonderful to work with – patient and understanding, willing to work through the details and all of our tedious questions. After a long search, Will helped us land in a house that checked almost all of our boxes. He followed that up with helping sell our previous home in what felt like record time! He is very knowledgeable, kind, professional, and provides many informative resources to ease the process for an anxious buyer like me. Would highly recommend. Thank you, Will!”

For me, stories like Hannah and Luke’s are why I love what I do. It’s not just about helping clients buy or sell a home—it’s about making sure they’re truly happy with one of the most significant decisions of their lives. If you’re looking for someone who will listen, guide, and go above and beyond to find the right home for you, I’m here to help. Let’s start your journey today by setting up a 1:1 meeting to discuss.