Blog

How to Purchase a Historic Home

Knoxville is bursting with gorgeous historic homes, which are often located in historically accurate neighborhoods. The combination of well-maintained historic homes and the state of the housing market can make it very tempting to purchase a piece of history. The beauty and character that these homes exhibit may not be enough reason to buy, so answer these questions before purchasing an old home:

Question #1: Foundation

A broken foundation can truly be a deal breaker. Repairing a broken foundation can be extremely expensive, so ask several questions about the foundation. The first place you should look when viewing a historic home is the basement, which is where you can check the state of the foundation. Cracks or shifting in the basement floor indicates a faulty foundation. Check around the house for evidence of mold; this also indicates a cracked foundation and a slew of other issues.

Question #2: Roof

Repairing a roof can be as costly as repairing the foundation. Ask your realtor how old the roof is. A roof that is over 10 years old will be stable for a while, but you need to understand that you will probably have to replace it during your ownership. Checking around the home for leaks will also help you figure out the state of the roof. Take a bright light and shine it on all corners of the house. If you see any moisture, you may have roof and foundation issues.

Question #3 Heat

Most people are accustomed to central heat and air, which is often an updated feature in historic homes. Ask your realtor how the home controls temperature, and if it is central heat and air, ask how old the furnace is. Replacing a furnace is another expensive update. It is also important to ask about past electric bills and the insulation of the home. Some historic homes have some original windows, which can make your electric bill higher than you are used to.

Restoring a historic home can be an educational way to get your dream home. Old homes require more upkeep than their modern counterparts, so make sure you have the time and energy to make repairs. Home repair is a learned skill, which means you can always educate yourself on the workings of old homes. Happy Historic House Hunting!

How to Sell Your Home in a Buyers Market

alt Selling a home in a ‘cooling’ market can be disheartening. We are currently in a buyer’s market, which can cause some homeowners to sell their home for less. Here are some ways to get a fair price for your home, when supply is higher than demand:

Distinguishing Your Home:

The state of the housing market can cause an increase of homes for sale in your neighborhood. One way homeowners can take advantage of competition in their own neighborhood, is by differentiating their home from the neighbors. This is not to suggest you should spend astronomical amounts of money to improve a home you do not plan on inhabiting. Adding custom designs to the exterior and interior are creative, cost effective ways to set your home apart from your neighbors, but make sure your efforts compliment your home. Home efficiency is important to buyers, so upgrading windows or replacing the roof, are practical ways to make your home more attractive to buyers. Accenting selling points in your home, like putting a roof on a deck, is another way to make your home more memorable to potential buyers.

Curb Appeal:

Another way buyers can distinguish their home from neighbors is by improving the curb appeal. Potential buyers will first view your home from the street, so investing time on the exterior of your home is essential to selling your home. A fresh coat of paint will make your home stick out, and while it is on the market, make sure you keep your lawn manicured. Curb appeal sets your house apart from your neighbors, so do not invest all of your time on the interior.

Clutter:

Curb appeal is important when trying to sell a home, but once potential buyers are inside, you will want them to be able to visualize living in the home. When showing your home, make sure that it is clutter free. Keeping your organized will put buyers at ease when viewing your home. No one wants to move into a hectic environment, so try your best to make your home possess a calming vibe.

Selling a home in a buyer’s market does not have to be unfavorable. Keeping your home manicured will increase your chances of selling closer to your asking price. Try and make your home the best choice in your neighborhood, so buyers have no choice but to buy your home!

How To Finance Your First Home

Buying a home is most people’s single largest investment. People who are trying to buy a home need to carefully plan, and this especially rings true with young, first time buyers. Young buyers purchasing their first home need to answer two questions: Will I need to move in a few years and do I have job security? A certain future is essential for young home buyers, and here are some other important steps to take:

Establishing Credit and Practicing Paying on Time:

Good credit is the foundation to making a large purchase; like a home. Responsibly using a credit card helps establish good credit, and will create a habit of making timely monthly payments. Purchasing a car is another great way to help you get used to making monthly payments, which also helps strengthen credit. Most people rent before they purchase a home, so make sure your name is on the lease. Paying rent on time helps increase credit scores, but make sure your landlord reports your good financial behavior. Practicing making payments on time will insure you are responsible enough to pay a monthly mortgage.

Saving:

Having good credit is a great start to financing a home, but this needs to be coupled with a down payment. Saving money will help young buyers accelerate their way to financial independence, which is essential to keeping a home. Most people do not need astronomical amounts of money for a down payment, but having extra money will help young buyers stay afloat while paying the mortgage. All of the money saved for a down payment may not be used, but having this extra money can help with home repairs. Learning to save money is an important life skill, and should be learned before purchasing a home.

Ask Questions:

Remember that real estate agents are extremely knowledgeable about purchasing a home. Ask your real estate agent questions that will help you successfully finance a home. Real estate agents are prepared to answer important questions like; can I afford this home and how much money do I need to save? Keeping an open line of communication is vital when purchasing a home, and will help you avoid any rude surprises in the future.

Establishing credit and saving money are big steps young buyers need to take before purchasing a home. Asking professionals, like real estate agents, will help you educate yourself about buying a home. All home buyers need to carefully plan before buying a home, so do not be embarrassed to ask questions!

Stressfree Ways to Accomodate Guests Through the Holidays

alt Getting your home ‘holiday’ ready does not have to be a daunting task. A lot of homeowners need to get their home ready to accommodate extra people, which can be achieved with a few simple adjustments. Here are a few guidelines to follow to help your home holiday ready!.:

Getting Organized and Making Accommodations:

Getting organized by assigning each room with a purpose always helps holiday entertaining go off without a hitch. Entertaining a slew of guests will require extra space, which can be achieved by moving unnecessary furniture, like ottomans. The room designated for entertaining should have an open floor, so your guests can navigate your home more fluidly. Before guests arrive, the host should select the rooms for guests to sleep in. Predetermining the sleeping rooms will help guests get their luggage put away, so it does not flood the rest of your home.

Setting the Mood:

While the host is organizing their home for guests, it is important to match the mood with the purpose of the room. The rooms designated for sleeping should be organized, so your guests will not feel like a burden. Coupling an organized room with warm colors, like reds or oranges, guarantees your guests will feel at ease. The room designated for entertaining should feel a little more formal, which can be achieved by using cooler colors, like greens and blues. Incorporating different colors in each room will help your home achieve an array of moods.

Dining Area:

Overcrowding is inevitable during the holidays, but one place that should be roomy is the dining area. Guests should not be sitting on top of each other, but with some planning it is easy to accommodate everyone at the dinner table. A table with leaves is a great way to create extra space. Not every dining room is equipped this type of table, so putting another table next to the existing one is a great way to create room for everyone.

The holidays can be a very hectic time, but with a little planning, your home can easily accommodate a large number of guests. Don’t forget to let your decorating reflect your personal style, and your guests will feel right at home. Happy Holidays!

Modern Interior Design Trends on a Budget

alt Interior design trends for 2012 are emerging, which seem to consist of environmentally conscious and industrial designs. The usage of grey colors compliment maudlin industrial designs, which is being brighten by yellow accents. Cost effective is the trend in interior design this year, so let’s see how we can update your home’s current interiors on a budget!