Ray Peckham Real Estate

Surfside Real Estate News / Buyer – Seller Tips

Surfside HOME BUYING PITFALLS TO AVOID

Sellers usually rely on sales of Surfside homes of comparable value to determine a fair and realistic price to set for their home but many sellers feel their home is worth much more and price their home accordingly. Buyers must also be tuned into sales for comparable homes in Surfside in order to judge the price of any home that is under consideration.

Being “House Poor” gets to be “Old New” real fast. A large and beautiful home with little or no furniture tends to be empty and cold. A life where almost every dime of income goes to the support of the Surfside house wears thin very quickly and is a frequent cause of family stress. Pushing yourself right up to your limit leaves you highly exposed when the inevitable changes to the national or your personal economy occurs.

Surfside HOME BUYING MORTGAGE PITFALLS TO AVOID

ALL MORTGAGES ARE NOT ALIKE. There are far too many variables—type of mortgage, term, lender and amount of points to mention a few—not to investigate all of your options in Surfside. Don’t simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend. Spend time comparing to get the best plan for you.

HOME INSPECTION – A MUST. If you should ever think about skipping the Surfside home inspection in order to save money, stop and give yourself a good shaking. In the scheme of things, the Home Inspection fee is small potatoes but it is a very important step for any buyer to take. Going without a Home Inspection or choosing an unqualified inspector puts you at risk for not knowing about potentially expensive or even hazardous defects in the property.

Surfside Disclosure Rule

If you are contemplating the purchase of an existing home or any Surfside, I strongly recommend that you utilize the services of a trusted home inspector. The final purchase of any home should be based on obtaining a favorable home inspection. Surfside is no exception to this rule.

What if the home inspector discovers a problem? That happens and as long as it happens before the sale is final the seller can fix the problem or the buyer who agrees to take the property as is can negotiate the price. Any questions regarding Surfside, just give me a call.

Buying a Surfside Fixer-Upper

Some Surfside investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Surfside fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.

Best to know the extent of the job and whether or not you are up to it before you buy. Some Surfside fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Surfside homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.

Buying Surfside Real Estate...Will it Pay?

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Surfside loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today.

Surfside ADVANTAGE

The advantages of buying in any particular city or area depend on the buyer’s individual needs. Factors include proximity to schools, work, shopping, recreation, cultural opportunities and health care. Affordability is another important factor. So your first step in considering Surfside or any other city is to determine which of your needs are met and which are not met.