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15 Mar

10 Things to Consider When Planning to Buy A Home

Being a homeowner is everyone’s dreams and ambition. Indeed, home ownership is a big commitment. However, the process of purchasing a home can be such a daunting and overwhelming experience for any individual. If you are planning to purchase a house, you need to know what you are getting into. Here are 10 essential steps to consider, when you feel ready to buy a home:

Where Do You Want to Live?

Decide where you want to live before buying a home. When deciding on the location of your new home, consider your future career aspirations about the local job market.  Buy a house within a city that you intend to stay in for a very long time and that which meets your career goals.

Other things to consider may include the cost of living within that area, its demographics and accessibility to public means of transport. Choosing the right location will help you avoid the enormous costs that come along with moving to a new place.

Determining the best time to buy a home is also an important consideration which you can find information on here.

 What’s Your Budget?

Once you have decided on the location that best suits you, the next step is conducting thorough research on the type of home that will fit your budget; this provides you with an overall idea of the types of properties that are currently available in the market and their pricing.

You will also want to go through some different mortgage calculators that will help you in determining the max purchase price you can afford on your home.  These will take into consideration your monthly income and all expenses that you currently have.

This part is very important because you don’t want to be ‘living for you house’ as they say.  If all of your extra income every month is going toward you mortgage payment you won’t be able to enjoy doing other things in life.

Boost Your Credit Score

For you to qualify for a mortgage, your credit score forms an essential aspect in the evaluation processes.  Higher credit scores increase your chances of getting the best interest rates. However, if you credit score is to low you may not even qualify to get a loan.  It is therefore critical to check your credit report early in advance and address any issue that may come up with the relevant authorities.

 Start Saving for A Down Payment.

You are not just required to build a good credit score but also to make savings such that you are in a position to make a down payment of about 5% (could be lower) of the property that you intend to purchase.  The only way around a down payment will be if you get a VA loan in which they will use a funding fee that is added to the loan instead of a down payment.

This 5% does not include other fees that may come up that you must pay (e.g. Closing Costs).  It is important to have this amount of money saved before trying to purchase a home because the lender will not let you pay for this with a credit card and you must already have the money in your account for a few months prior.

 

Get Yourself the Right Real Estate Agent

It’s now time to cement the deal! Get yourself a real estate agent that you trust and who you’ll be comfortable working with. This does not, however, prevent you from deciding and making a purchase on your own.

The advantage of working with a real estate agent relies on their extensive knowledge of the industry. They will fully represent you and ensure you get the best out of the deal in terms of costs incurred. The best agents can be referred to you by family and friends who have had a positive experience working with them. You can also get in contact with a buyer representative who is accredited within your locality.

Get A Lender with The Best Rates

 The real estate agent you have agreed to work with may come in handy when it comes to choosing the best lender to settle on. He or she may make suggestions on some of them who he has worked with in the past well, but the sole decision will still rely on you. You are required to go around gathering information on loans terms of the various lenders at your disposal. Some of the things to put into consideration at this stage may include interest rates, fees paid directly to lenders and any additional cost.

 Get Mortgage Pre-Approval

 When presenting your intent to buy a home, sellers require a ‘Proof of Funds’ letter that proves you are eligible for a home loan. For lenders to approve your loan request, they have to review your financial documents as well as do a credit check. If you get an approval, they offer you an official document that indicated the amount that you have been allocated.

This process is quick and can be done in a few minutes over the phone with your lender or mortgage broker.

 Check for Houses Over the Internet or In Person

 When looking for a property to buy, you need to conduct proper research over the internet on websites that deal with real estate. Your focus should not solely be on the property that you desire but also in things happening within that locality such as the community, availability of schools, public transport, and shopping centers. After that, you should make a visit in person to the property and conduct a physical examination.

Make an Offer on The Desired Property

The moment you find a property that entirely suits your needs and wants, you are required, with the help of your agent to come up with an offer letter. This reflects the price at which you would like to buy the property and any other term you would want to be part of the deal. You are then required to present the offer to the seller (agent will do this part) and enter into a series of negotiations. At the end when you both agree on all the terms and conditions, a purchase contract is drafted and signed.

Closing on a Home

Before moving to your newly acquired home, you have to ensure that you have in your possession all the necessary documents such as reports on inspection, homeowner proof of insurance and lastly the purchase contract. The lender will provide you with a cashier’s check that will be used in the coverage of your closing costs.

Important documents such as the title deed of the home and mortgage agreement are also required to be signed at this stage. Feel free to get clarification on anything not clear to you from any of the agents present. The property is now officially yours.

If you are a first time home buyer then you may find some other great information on this article.

1 Apr

Five Strategies For Finding The Best Retirement Community

When you’re thinking of finding a place to live in your senior years, or if you have a loved one in search of a beautiful retirement community, there are plenty of steps you can take to make this a great decision.

It will take some focus on your behalf to find one of the best retirement communities in your area, both to find the best living conditions and to make the best financial decision. This guide will teach you a lot about how this decision can be planned out with diligent, prudent actions.

To get started with finding the perfect retirement community in your area, read on and apply the tips below.

Plan Out Detailed Visits To All The Retirement Communities In Your Price Range

The biggest mistake that people make when looking for a retirement community is that they fail to get a feel for the community in person prior to buying a home within it. Rather than simply looking at a virtual tour or simply browsing the community briefly, you need to plan enough time to truly understand the services and culture.

Key in on the important things, such as whether or not the community is kept clean. This is a health and quality of life issue, so steer clear of any community that doesn’t smell fresh and look impeccable. You should ask them whether they have had any health and safety violations in recent years.

Your visit should be unannounced or on short notice whenever possible, just to get an accurate representation of a typical day in the community. Make note of the level of enjoyment and engagement that others in the community seem to possess.

If possible, speak to a few of the residents so that you can get first-hand accounts of what it’s like to live there. When you visit the communities in person, you’re better able to find a home that will suit you most.

Be Sure That You Choose A Community That Provides For Your Medical Needs

Research the community to look up the licenses of each doctor or other medical professional on-staff. In addition to standard medical treatment, make sure they offer alternative medicine treatments like chiropractic care, acupuncture and massage therapy.

If you have a specific medical issue, be sure that you get the care that will help you to live with it without a concern. Ask the community about their emergency protocol and speak to the doctors onsite when possible.

In addition to looking up their medical credentials and background, be sure that you also review the company’s Better Business Bureau (BBB) profile.

Shop Around And Find Financing To Help Pay For The Home

You’ll definitely need to be certain that your retirement community property acquisition is in your budget. Start by figuring out how much you’re able to finance, which will help you know your budget.

By knowing your budget, it’s easier to find leads and figure out how long your dollar can stretch. It’s important for you to get a new credit report, so you’ll also be able to figure out what interest rates you might receive.

It’s important for you to get your credit score to 700 or above, thought 750 and above is the sweet spot. You’ll need to explore as many options as you can, and give yourself time to negotiate and test the market, rather than jumping on every offer.

Choose a Ocala Retirement Community That Has Wellness And Nutrition Opportunities

When you’re 55 and over, you owe it to yourself to take your wellness into consideration. You’ll be able to ease pain and maintain your energy and well-being by taking advantage of many therapeutic options that retirement homes have.

You’ll be able to find retirement communities that offer great wellness opportunities like group classes and activities, meditation and yoga, walking and hiking trails, exercise facilities and more. The more that you engage in your community and take care of your body and mind, the easier it’ll be to live with tranquility and health.

Make sure that you get a copy of their menu items and find out who supplies their food. Nutrition is a huge part of wellness, so you’ll need to choose a retirement community that has on-site access to healthy and nutritious food.

Touch Base with a Team of Realtors That Can Assist You

Above everything, it’s important that you put together a team of pros that can narrow down your selections. The right broker or real estate professional firm can be your advocate as you find the best deals and handle every matter on the road to landing a great property purchase.

Take advantage of their search tools in order to get accurate listings that are up to date. When you follow these five points, it’s easier for you to find the retirement community for you.

21 Jan

FHA Loan Highlights in Ocala FL

FHA home loans can be a valuable option for home buyers and home owners in Ocala (and the rest of Florida). There are a number of factors that make FHA home loans unique and sometimes the only choice for certain home owners and home buyers. Below I will point out some of the factors that would make a home buyer or home owner choose a FHA home loan over a conventional loan:

  • FHA only requires a three year wait after a prior foreclosure (conventional requires a seven year wait)
  • FHA loan limits in Marion County are $275,665
  • FHA down minimum down payment is 3.5%
  • FHA still allows up to 55% debt-to-income ratios where conventional with a low down payment is generally about 45%
  • FHA only requires a two year wait after a prior bankruptcy to apply for a FHA loan (conventional loans require a four year wait)
  • FHA loans allow a cash out refinance to 85% of the property value with just a 620 middle credit score
  • FHA loans allow a non-occupant co-borrower
  • FHA loans allow all of the down payment to be a gift from a relative
  • FHA loans require a three year wait after short sale (conventional loans with less than 20% down require a four year wait after short sale)
  • You can get a FHA home loan with as low as a 620 credit score
  • FHA interest rates are not as credit score driven as conventional loans, which means even if you have a low credit score you will get an excellent interest rate

17 Apr

Tips to Improve the Curb Appeal of Your Property

Whether you’re planning to sell or rent your property any time soon, a fresh and welcoming exterior is one of the most important things that you should consider. From house numbers to front doors, and color schemes to furnishings, basic repairs and landscaping, these tips would help you increase your property’s curb appeal.

7 Tips for Improving Your Curb Appeal

A front door that pops could capture anyone’s attention. Thus, it’s the easiest way to give your property instant curb appeal.
– Deep Red: There’s something good about a red door, it gives the impression of being very welcoming, joyful, and gutsy.
– Gray: Gray can be so dull; however, it also has a little kick to it. In high gloss, it’s pure elegance.
– Bright Yellow: Although yellows could often be too juvenile, a little bit of lime can also make it look sophisticated and elegant.
– Dark Green: Instead of the usual black color, a black-green shade is softer and prettier. Best of all, it’s neutral.
– Golden Yellow: It’s a great color to come home after a busy day at work. It has a baked-in-the-sun look, making it relaxing.
– Gray Purple: If you want something strong and bold, go for gray-purple.

2. Do the Pruning and Planting

Another easy way to increase curb appeal would be to clean up your landscaping. You can always start this activity by pruning shrubs and trees to enhance its beauty. After that, you can do some planting. Trees could create majesty and improve focal points, while tall shrubs can accent and frame interesting features of your house and yard. Not just that, it’s also a great way to conceal those unsightly garbage cans.

3. Big, Bold House Numbers Are In

Considering the fact that it’s so easy to swap out house numbers, this simple change could have a big impact on your property. As much as possible, the house style should blend with the numbers you choose. For a modern house, a clean sans serif will look great; for a cottage, hand-painted tiles will be perfect; and for a Prairie-style home, aged copper is a good choice.

4. Don’t Forget to Wash the Siding

For those who can work safely from the ground or a ladder, then this tip is really worth considering as a DIY project. However, if you can’t, hiring professional help is advised. Maintaining your property is essential if you want it to retain its value, cleaning included. If you’re going to clean the siding, it’s important that you protect the brick walls, stones, plants, and patios with plastic sheeting. Sweep off dirt and work from the eaves to base. Don’t forget to hose off the walls after.

If it’s needed, you should also scrub your siding using a stiff-bristle brush with a long handle. Use a mixture of non-phosphate detergent and water as your cleaning solution. On the other hand, if you’re going to use a pressure water, be very careful and see to it that the nozzle is moving, because if it stays in one place for a period of time, it can remove the paint.

5. Lighting Is Important

Unless your prospective buyers would only visit your property at daytime, then lighting wouldn’t be much of a deal. However, you can’t always be sure of that. Besides, adding new lighting is a great way to make the property pop in the listing pictures. That in mind, you should consider installing a low-voltage landscape lighting to light the walkway, driveway, and you can also consider adding lights on a tree or any part of the property.

6. What Will Your Buyers See at the Front Door?

As a property owner, if you really want your prospective buyers to be impressed, you have to imagine what they’ll exactly see as they walk up to the front of your door. You have to add that extra touch to the front entry point and that can be done by installing a walkway from the curb to the front door.

7. Upgrade Your Windows

You’re probably aware of the importance of washing your windows, however, it shouldn’t stop there. Keep in mind, your windows are the “eyes” of your home, and so you have to put an extra effort on these if you really want to seal the deal. A cost effective way to improve curb appeal is by placing beautiful bouquets in elaborate vases and put them on your window ledge.

Final Words

It doesn’t matter if you’re thinking of selling or renting your property. It’s always nice to give your home a spring refresher, and these simple tips will do just that.

23 Aug

Katrina Survivor Jason Lapene Swims to the Top in Atlanta Real Estate

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Hurricane Katrina changed the lives of many, creating a major effect on the nation. Being one of the most destructive natural disasters in history, over 1,833 lives were lost. Millions of people were left homeless along the Gulf Coast and New Orleans. Even 10 years after Katrina, some are still without homes. The touching story of Jason Lapene is about a man who conquered tremendous hardships after losing it all.

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“I can remember seeing my entire city under water and confused if any of my friends were stuck in their homes. It was so hot, and I was hungry and without water I started to hallucinate and see Tornados coming. Unfortunately, watching dogs pull dead bodies out of the water was not an illusion, a haunting image which stays with me” – Jason Lapene

Like millions of others, there was nothing left for Jason in New Orleans. Coincidentally, a CNN crew filming the aftermath of Katrina was heading to Atlanta. Jason was able to convince the crew to bring him along the ride to Georgia. After arriving, a frightening truth shrouded over him; Jason was homeless, jobless, and without any friends or family. All of his contacts were either in New Orleans or Tennessee. FEMA helped Jason survive, providing him with temporary housing at a local Hampton Inn in Buckhead. Needless to say, he was under intense emotional distress and was financially ruined. Food and a warm bed were the only comfort he had during this desperate time of need. In a completely unfamiliar city, miles away from his home, Jason realized that the only way for him to survive was to reinvent himself.

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Before the devastation of Katrina, Jason was a successful realtor in the New Orleans area. Sought-after, admired and respected, Jason had a flourishing business, specializing in extravagant homes and condos. In a different city, with no contacts or financial stability, Jason knew he had many obstacles in front of him. He made the decision to use the skillsets he acquired over the years and began to study and analyze the Atlanta real estate market. Without money or clean clothes, he went to the local Salvation Army for clothes to look respectable for interviews. Considering how stressful interviews can be, Jason remained strong and stoic, even though he was homeless, hungry, stressed and lacking money. The large brokers in Atlanta told him that he should give up and consider another career, as he was basically starting over in Georgia. The blunt rejections spawned an intense will and desire for Jason to prove that he could salvage his life and overcome these demoralizing obstacles.

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In a spirit of entrepreneurship, Jason decided he would work for himself and acquired his broker’s license. With a background in computer science, he built his Atlanta realtor website to attract prospective clients online. Jason worked ceaselessly, focusing on cold calling and networking. His hard work began to pay off and Clients enthusiastically started to recommend Jason to their friends and family. The same corporate brokers who told Jason that he could not succeed, were now insisting on doing business with him.

Many years have passed since the events of Hurricane Katrina and today, Jason’s business is thriving.  As a multi-millionaire, he uses his wealth to fight homelessness and poverty. Jason received his degree in business from one the top colleges in the south, Georgia State University. At Georgia State University, some of the courses Jason studied included Real Estate Law, Real Estate Development, Real Estate Valuation and Real Estate Principles. Jason’s business specializes in the most luxurious homes, lofts and condominiums in the Atlanta. Jason’s condominiums, lofts and townhomes are ideal for people who are looking for a home that is in the heart of Atlanta requiring, minimal commuting and maintenance. The condominiums are affordable and comfortable, with on-site fitness facilities and relaxing rooftop decks. His website attracts thousands of visitors a month and his business receives referrals on a day-to-day basis. Jason values his relationships, both professionally and personally, treating his friends and clients with the utmost respect and appreciation.

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Jason Lapene is a man who proved that you certainly can pull through life’s most challenging obstacles with hard work, persistence and determination. Jason’s business has created a positive ripple effect, helping the Atlanta real estate industry prosper and providing citizens with the highest quality homes.

24 May

Rental Properties Are Becoming the Thing Of The Past

rental properties in Ocala flIn our early study of renting vs buying a home I found it difficult to understand why so many people rent so I did more research and here is what I found. It may have been easy to rent a house in the past, though it has not been easy in the past few years, today fewer people are moving out and more people moving into rental properties. All this accounts for the skyrocketing prices and fewer vacancies. The situation may not improve and rather worsen as the rental population will increase but not the properties. There are various factors that have come into play.

According to a recent research by a real estate research and investment organization, over the next decade, 4 million people will be renting in the U.S. and there is a rental crunch with vacancies around 7 percent only. About 50 percent people spend more than 30 percent of their income on housing while 25 percent spends 50 percent and more of their income on housing.  These numbers will change only for the worse over the next decade.

Rising Home Values are not at the same pace as Income

Home values will rise slowly, however, faster than the income, thus affecting affordable housing. The income has been almost stagnant, even though there has been a rise in the job opportunities. This is the reason renting is becoming even more difficult for many families. Inflation is at about 2 percent annually, the number of people burdened by rising rents would increase almost by 11 percent to 13 million in 2025.

Even though there is a rise in home ownership, however, it is not a very significant rise to counter the effect of lesser vacancies in the rental properties. There is a persisting shortage of affordable housing in the existing structures as well as those being constructed.

There has been an increase in the number of Millennial (18-35 years) who want home ownership. In 2011, only 65 percent of Millennial wanted to own a home, while this has increased to 78 percent in 2014, to 80 percent in 2015. Most of them are still struggling with student loans, stagnant job wages, rising rents and home prices.

First-Time Home Buyers will be older

According to study on home ownership in 2016, 50 percent of Millennial and about 18 percent Baby boomers (55+) have saved for a down payment while waiting for a promotion or a raise while 12 percent of Baby boomers are expecting the same. More than 35 percent of Millennial and about 10 percent of Baby boomers have improved their credit history, said Katrina Barone of houses for sale in Ocala fl.

More than 5 percent of Millennial and Baby boomers state increase in rents as a factor in buying a home than renting it. About 15 percent of Baby boomers and 25 percent Millennial find home ownership makes financial sense. The median age of first-time homeowners will be older, where the oldest Millennial is 35 years who want to buy homes, however, find it difficult, especially when they are paying high rent prices in those parts of the country where they have lucrative jobs.

According to a study, a majority of the Americans think, 2016 is a good year to sell and buy a home and the majority of them find it is a difficult time to rent. FHA loans have seen a reduction in mortgage insurance premiums by an average of $900 a year; this has led to a rise in FHA borrowers. For many Americans home ownership is a dream, of which 80 percent of Millennial sees the same dream.

Rent increases while New Home Construction is not geared

Higher rents, almost stagnant income, and decreasing employment opportunities during the recession phase as well as its consequences will continue to affect mainly the Millennial over the next decade. Usually, when the rent increases, buying becomes an attractive option with a flip side that saving for a down payment will become even more difficult.

Mortgage access will remain low, especially for entry level homes. Many new constructions are not low priced while many others are locked in negative equity. There are simply not enough affordable rentals where the younger generation wants to live. The median rent in San Francisco is 15 percent higher than it was a year ago.

People are delaying ownership for several reasons and there is not enough supply. This has led to higher demands which in turn lead to rising rents. The rental properties are becoming the thing of the past, according to Central Florida real estate agent Fred Franks of Local Realty Service located in Ocala, Florida.

17 May

Buying a Home vs. Renting a Home

The largest purchase that many people will ever make is their home. The decision to buy a home is exciting, interesting, and also a little scary. After all, home buying is an enormous commitment, involving tens and sometimes hundreds of thousands of dollars. The decision to purchase a home is somewhat an act of faith, in that the homeowner is investing years of his hard-earned money in the hope that the real estate will at the least hold its value or hopefully increase in value. Paying off a mortgage  usually takes between 15 and 30 years of a person’s life, so this choice shouldn’t be made on impulse.

In today’s economy, the big decision of whether to buy a home or to continue renting is puzzling and quite individual. Many people prefer to rent, while others still like the idea of homeownership.

Renting a Home

Statistics on Rentals

If you are currently renting a home, you are in good company. Here are some statistics on renting a place to live, according to the National Multifamily Housing Council

  • About 37 percent of the households in the United States are occupied by renters. This represents about 43,267,432 family units comprised of 110,175,847 individuals.
  • The largest age demographic for renters is the “under 30” crowd. Over 55 million renters are under age 30, making up about 51 percent of the rental market. However, this number does include a large number of children.
  • Most renters live in single-unit places. This 43 percent of the renters studied.

Reasons People Prefer to Rent

In the past, many people preferred to get out of rentals as quickly as possible and achieve the “American Dream” of homeownership. However, in recent years, that trend has shifted a bit. The collapse of the real estate market in many parts of the country makes people a little nervous about gambling on increasing property values. Additionally, uncertain job markets in some sectors mean that the commitment of homeownership is frightening for many families.

Some renters like renting a place to live for other non-financial reasons. Adventurous people may prefer the ability to move, change jobs, and travel frequently, something that might be impossible for a homeowner. Some people don’t want to have to fuss with home maintenance and repairs, and they’re glad to call a landlord when the roof starts leaking or the heat won’t work.  Others just don’t want the stress of being forced to make monthly payments no matter what. After all, if the bank account gets a little slim, some people will just move in with friends or family for a few months until they get back on their feet financially.

The Downside of Renting

However, there is a downside of renting. First, renting is often more expensive than home buying in many areas of the country. Second, rent does not gain you any return for your money, and the landlord is the one profiting from your payments. Third, in many places, finding a reasonably-priced, well-maintained rental unit in a nice neighborhood can be difficult. Fourth, homeowners get tax breaks for their housing expenses, and this is something of which renters can’t take advantage.

Buying a Home

Statistics about Home-Ownership

Home ownership is the epitome of the American Dream and is one of the biggest goals of young adults. Here are some statistics on homeownership as according to Money-zine.com. The figures were extrapolated from studies performed by the U.S. Census Bureau and the Bureau of Labor and Statistics.

  • The typical American home was built around 1975, has three bedrooms, two bathrooms, is about 1800 square feet and is on a lot that’s about 1/3 of an acre.
  • Owning a home costs the typical American about $1450 per month, including taxes, payments, utilities, insurance, maintenance and upkeep.
  • The typical American home costs about $160,000.

Reasons People Prefer to Buy

Many people buy a home for no other reason than that they crave the permanence and stability that homeownership brings. Others see their home as an investment, and they want to take advantage of tax breaks available to homeowners. Some homeowners want to buy a house and make it into their own personalized home, customizing it with remodeling and landscaping projects.

The Downsides of Buying a Home

However, homeownership at the wrong time can take the American dream and turn it into a nightmare. If you buy before you qualify for a good loan, you could risk your investment if your payment changes. Also, if your employment situation is uncertain, homeownership might not be such a great idea right now. A few months of unemployment could ruin your credit for years. Additionally, along with homeownership comes the expenses of maintaining the home, something for which the wise homeowner has to plan ahead.

As you can see, the decision of whether to buy a home or to rent one is multi-faceted. There is no one “right” decision. It can depend on several things, such as the homeowner’s age, their job situation, the area where they want to live, their life stage, or their life style. Only you can decide whether you should buy or rent. However, you should think the decision through carefully before you buy a home.

If you’re still on the fence about whether or not homeownership is right for you, you may want to contact a trustworthy real estate agent, such as Fred Franks of Local Realty Service. Fred isn’t necessarily wrapped up in making the sale. More importantly, he wants you to make the best decision for you. He says, ” Purchasing a home can be a long and sometimes tedious process.” Fred continues, “As a professional Central Florida Real Estate Agent, I will assist you in understanding the down payment you will be asked to make, your monthly mortgage payments, your choice of lenders, and so on. Hiring me as your Realtor may be less expensive than you think. In fact it can actually be more expensive NOT to hire a professional to assist you in your home purchase.” Be sure to take your time and talk to a professional before you make this big decision.

5 Things to Consider When Looking for Pool Homes for Sale around Ocala FL

pool homes for sale in Ocala FLThere are many considerations you’ll need to make when looking for a house for sale around Ocala FL. However, if you want to become an owner of a pool home, there will be an extra set of factors that must be taken into account when making the final decision. Before you start your search read my tip on buying a house in Ocala there you will get a better understand the process of buying a home! Many of the luxury homes for sale in Ocala has an in-ground but the price range starts at $400K and up.

First of all, you need to decide whether a home with a pool is right for you. According to the statistics, the number of properties with in-ground pools in the US has increased dramatically over the last decade. The vast majority of high-end properties have them, even if the pool is never used. It has become a mark of status. There are also some middle-range pool homes around Ocala FL, so you don’t have to pay a fortune for a property equipped with one.

If you are still undecided regarding this issue, consider the following pros and cons of owning a pool home.

Pros:

  • A pool increases the value of the property, both monetary and aesthetic.
  • You can have awesome pool parties.
  • Swimming is a great workout and you won’t have to waste time driving to the beach and back if you have a pool.
  • You can cool down fast during the hot Florida summers.

Cons:

  • Pools require regular maintenance, so they add to your monthly expenses.
  • A pool can present a safety hazard for small children.
  • The insurance for a pool home is more expensive.

Selling a Pool Home in Ocala Florida?

You also need to remember that should you decide to sell the property in the future, finding a buyer will be more difficult. However, as pools are a highly sought-after feature in the homes for sale in Ocala FL, this won’t be a problem for you. Start with reading my sellers guide to selling your home in Ocala, FL.

If you believe that pros of buying a pool home outweigh the cons, you’ll need to consider the following factors when choosing one.

  1. Regular maintenance costs.The type, size, and location of the pool determine the maintenance procedures it requires. Therefore, there is no universal maintenance rate for pools, so you’ll need to find out this cost from the seller beforehand. Your real estate agent will be able to help you with this.Do not forget the increase in the utility bills caused by a heated pool. The Florida climate allows you to keep these costs to a minimum. However, they must be taken into account when you calculate the property upkeep cost before making an offer.
  2. Home inspection report.Any property must be inspected by a qualified professional before closing the deal. You can entrust finding a reliable inspector to your realtor as these experts work together often and have good connections within the industry. It’s imperative to get a pool home for sale around Ocala FL inspected by a professional who is experienced in dealing with this exact type of properties. Otherwise, even a trustworthy inspector might miss something important.An average pool inspection includes checking the pool itself, heater, pumps, ladders, ground-fault circuit interrupter devices (imperative as this device prevents electrocution), railings, and diving boards if there are any. Note that some of the older pools aren’t equipped with ground-fault circuit interrupter devices. As this piece of equipment is necessary to ensure your safety, you will need to consider buying it and accounting for this when deciding on the final offer.
  3. Fence.
    The requirements regarding the fences around pool homes vary depending on the region. In Ocala FL, the vast majority of properties meet the local requirements, but you should always check to be sure. Remember that the height and type of the fence aren’t the only regulated factors, the type of the gate must also comply with the local codes.
  4. Insurance.
    Both the cost and terms of the insurance policy have to be studied carefully. A pool increases the liability risk, so it’s only natural that the total cost of insurance for this type of property will be higher. Study the terms of the policy carefully, and pay extra attention when going over the exceptions and other additional clauses. A reliable real estate agent will help you find the best insurance terms. However, don’t forget to take these costs into account before making a final offer.Style of the pool.
  5. Style of the pool.
    When looking at pool homes for sale around Ocala FL, you will see that there are dozens of pool types available. The difference is not only in the location (outdoors/indoors) and size, but style as well. A pool can be a great addition to the aesthetic value of the property, but it might also distract from it. If the previous homeowner’s sense of style was lacking, the value of the property will be reduced as even though there is a pool, it looks out of place. If you plan to resell the house in the future, you will need to account for the renovations necessary to bring the pool up to match the overall style of the property.

28 Oct

Buying a House in Marion Oaks North and South Communities in Ocala, Florida

Marion Oaks North and South are wonderful neighborhood’s in Ocala, Florida. It’s a great place to live if you are looking for a place where you can relax and enjoy life. The community was established about 30 years ago and has been steadily growing since. Nowadays, it’s about to become an incorporated city with over 15,000 residents.

There are several banks, shops, and great restaurants in Marion Oaks, as well as several expansion plans that will increase the shopping area of the community. Education wise, Marion Oaks can offer:

Homes in Marion Oaks

Homes in Marion Oaks

A community college for the Ocala FL area is College of Central Florida that offers a variety of programs and vocational trainings. It’s a well-respected educational establishment that can give the youth a jump start in life. The University Center on the campus houses satellites for several major schools, such as St. Leo University, University of Central Florida, and Florida State University.

All in all, if you are moving to Ocala FL to raise a family and want your children to receive a good education, buying a house in Marion Oaks is a wise decision. Living there will be a great fun as there is always something interesting happening in Ocala FL. Don’t forget about the great climate that will save your mood from being ruined by nasty weather.

Every year, Marion Oaks hosts a fabulous Spring Celebration that includes a variety of fun events, including a parade, talent show, health fair, book sale, and even a car show. The festival also offers a great number of individual booths where you can buy all kinds of handmade products like cosmetics, souvenirs, delicious ethnic foods, etc. The celebration takes place in April, so be sure to come to Marion Oaks during this time to experience the true spirit of the community.

Tips for Buying a Home in Marion Oaks FL

If you are determined to become a happy owner of a home in Marion Oaks, you should start planning your purchase as finding and buying the perfect house is a lengthy and complicated process. The following tips will help you with it.

  • Find out your credit score.
    Getting a loan today is rather difficult, so you need to have a good credit score even if you qualify for some specialized financial aid programs offered by the state. To get lower monthly payments on your mortgage you should have a score over 680. The higher the better as this will allow you to cut down not only the monthly fees but the down payment as well. To get the best rates, you will need to have a credit score of 750 at the least. Improving your credit will be easy if you start early. Taking a few short-term loans will help you achieve this goal. You also need to study your credit reports carefully to make sure that no old debts ruin your score.
  • Think of the future when choosing a house.
    Few people think about reselling the property when they are buying a house in Marion Oaks, but there is always a chance that such a need will occur. Therefore, it’s best to choose a property that you would be able to sell for a good price. Get the home inspected and appraised by qualified professionals to learn its exact value. In addition, don’t try to buy the biggest house as such properties appeal to a very limited number of buyers. Therefore, you might have a hard time selling it in the future.
  • Employ the services of an experienced Ocala FL real estate agent.
    A good realtor will not only help you through the legal issues surrounding the deal, this specialist will also help you arrange all the necessary inspections and will find the perfect properties to show you. A local agent is a must as you no one else knows the area better than a resident of Ocala FL.
  • Anticipate “sleeper costs”.
    Remember that monthly mortgage payments as well as the initial down payment and closing costs for the home buying deal aren’t the only expenses associated with buying a house. There are also some “sleeper costs” that must be taken into account when you plan your budget. These costs include repairs, increases in property taxes, utilities, homeowner association’s dues, maintenance, etc. First-time home buyers often have a hard time anticipating these costs, so be sure to discuss this with your agent. Experienced realtors will not only help you with planning your budget but also help you find the house that realistically fits within your financial limitations.
  • Show up with a pre-approved loan.
    Marion Oaks is a great place to live, so the properties for sale here are always in high demand. To make the seller choose your offer over others you need to provide solid proof that you are capable of buying the house fast. If you can’t afford to pay in cash, which is the quickest option, you should have a pre-approval for a mortgage. This will indicate that you can get the loan fast.

To learn more about buying a home in Ocala, read my 10 steps to buying a home in Ocala.  With 22 years of Real Estate experience I can assist you through the whole process!

10 Steps to Buying a House in Ocala FL

Ocala House Buying TipsLiving in Ocala FL is a great joy, so buying a house here in Ocala, Florida is a great decision. There are plenty of great properties for sale in this part of Florida, so it’s not going to be difficult to select a perfect home for you. However, the process of buying the house can be extremely stressful, especially if you don’t have a lot of experience in this area. The following 10-step guide will help you get through the purchase of your Ocala FL property quickly and efficiently.

  1. Prepare your funds.
    Start thinking of your finances as early as possible because you may need to improve your credit rating to get a better deal on a mortgage. Taking a few short-time loans and repaying them quickly will help you with this. You will also need to save up some cash for the down payment and other necessary expenses related to signing the deal and moving house. You must have the funds at your disposal before you start looking for the property in earnest because you may lose the deal for your dream home if you can’t make the down payment right away.
  1. Get pre-approved for a loan.
    You need to determine what kind of house you can afford. To do this, you will need to contact various lenders and get pre-approved for a loan to see how much money you can count on when buying an Ocala FL house for sale. You can use mortgage calculators to get a better idea of the payments you’ll have to make. Don’t forget that there are mortgage refinancing options you might be able to use in order to make your loan payment terms more beneficial in the future. If this is your first time buying a house, you can look into various programs that offer financial assistance to first-time buyers. Some groups of people, like veterans and their families, are also eligible for some specialized types of financial aid. Research all your options and possible lenders to find the best one before you start hunting for the perfect Ocala FL house for sale. This way, you will be able to make a better offer to the seller and buy the property of your dreams quickly.
  2. Find a real estate agent.
    When looking for a real estate specialist in Ocala FL, you will need to consider the agent’s experience and reliability. A good real estate professional will be able to assist you with all the legal matters pertaining to the home buying process as well as help you find the house of your dreams. We know Ocala FL very well and will use this knowledge to pick and show you the properties that meet your exact requirements. Remember that a good agent will also help you negotiate the price. Therefore, employing the services of a qualified professional is highly cost efficient and will reduce the stress of the process greatly.
  3. Find an Ocala FL house you want to live in.
    There are a great number of beautiful houses for sale in Ocala FL, so finding the perfect one for you may take some time. You should prepare a list of requirements for the property so that you don’t waste your time looking at houses that don’t suit you by default. Present this list to your real estate agent and trust him or her to show you to the houses that match your criteria. In addition, you can look into MLS listings to see some of the houses for sale. Be sure to do some research of the city itself to decide which part of it looks most appealing to you personally.
  4. Make an offer.
    Your real estate agent will help you create a proposal that the seller won’t be able to decline. It’s imperative to have all your financial issue settled beforehand as this way, the other party will see that you are serious and can conclude the deal quickly. The sellers usually consider this to be the most important factor.
  5. Arrange a home appraisal.
    A home appraisal is necessary for two reasons. First of all, the vast majority of lenders will require the results of an official appraisal for granting you a loan. The second reason is your personal peace of mind as you will be sure that you aren’t overpaying for the house.
  6. Get a home inspection.
    An appraisal determines value, but inspection determines quality. You can use the results of a home inspection to negotiate the cost of the property as any necessary repairs must be accounted for in the deal.
  7. Get approved for a mortgage.
    Finalize the dealings with your lender so that you can actually buy the house.
  8. Double-check all paperwork.
    Go over all the legal details again to be perfectly sure that everything is in order.
  9. Close the deal.
    At the final stage of the home buying process you settle all the legal details, pay the closing costs, and pick up the keys to your new home. Your real estate agent will assist you with all the legalities to make the process easy for you.

Home Buyer’s Guide for Free

If you are interested in finding out more about buying a home any where in Marion County you can sign up to receive a copy of my home buyers guide or call Fred Franks at 352-354-9808 to get all your question answer!

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Fontana Realty

915 SE 17th,
Ocala, FL 34471

16670 S. Hwy 441
Summerfield, FL

352-289-0404 Office

Fred Franks

As a top producing REALTOR in the Ocala, Katrina has been exceeding client expectations for over 17 years of helping the public. Her attention to detail and unrelentless work ethic will work in your favor as you
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