Chad Goldstein - Gold Key Realty LLC



Posted by Chad Goldstein on 4/29/2019

A home inspection is a vital part of every real estate transaction. Its importance is usually solidified in a purchase contract in the form of a contingency clause.

Whenever you buy or sell a home, the transaction is typically contingent upon a few things being fulfilled. Inspections help protect the buyer from purchasing a home that they believed didnít have any major issues.

For buyers, an inspection can save you thousands in the long run. For sellers, getting a preemptive inspection done (on your own dime) can be useful since it will help you avoid any surprises that could arise when a potential buyer has your home inspected.

Hiring a home inspector

Regardless of whether youíre the buyer or the seller in this instance, hiring a home inspector isnít something you should take lightly. Youíll want to confer with your agent before you pick an inspector.

Itís also a good idea to check out some online reviews and visit the inspectorís website for pricing. Typically, inspectors charge between $200 and $400 for an inspection, so feel free to shop around.

Inspectors are certified, so make sure whoever you choose has the proper licensure. You can search for inspectors in your area with this search function.

Ultimately, youíll want to choose an inspector that can give you the most unbiased assessment of the home, so that you can be assured that you know what youíre getting into when you buy or sell a home.

Preparing for an inspection

Many buyers arenít sure what to expect on inspection day. However, the process is relatively simple.

Youíll want to make sure the inspector can easily access workspaces (like around the furnace, circuit breakers, etc.). This will make the inspectorís job easier and allow them to focus on the service theyíre providing you.

If possible, itís also a good idea to provide them with records of important home maintenance and repairs. Inspectors know what red flags to look for with the home, both physically and on paper.

Finally, make sure pets, kids, and any other distractions are away from home or with someone who can attend to them.

Post inspection

After the inspection is complete, the inspector will hand you a report and be able to answer any questions you have about their findings. They will give recommendations about the timeline for repairs that need to be made soon or even years into the future.

With this report in hand, you can determine if there are repairs you want to negotiate with the seller if youíre buying a home. As a seller, this report will tip you off to issues that potential buyers will likely have and give you a chance to address them in advance.





Posted by Chad Goldstein on 4/1/2019

If you plan to pursue your dream house, it generally helps to evaluate housing market data. In fact, there are many reasons why homebuyers should assess real estate market data, and these include:

1. You can learn about mortgage interest rates.

Mortgage interest rates rise and fall frequently. As a homebuyer, you'll want to do everything you can to identify the lowest-available mortgage interest rates. And if you study the housing market, you may be better equipped than ever before to do just that.

In addition, it often helps to meet with banks and credit unions. These financial institutions can help you track mortgage interest rates and provide you with mortgage insights that you may struggle to obtain elsewhere. Plus, banks and credit unions can help you get pre-approved for a mortgage and ensure that you have finances in hand when you pursue your dream residence.

2. You can reduce the risk of spending too much to acquire your ideal house.

Let's face it Ė you want to buy your dream house, but you don't want to break the bank to do so. Fortunately, if you understand housing market data, you may be able to avoid the temptation to overspend on a house.

Examine the prices of available houses and recently sold homes in areas where you want to live. By doing so, you can establish a price range for your dream residence and find out whether you're preparing to enter a buyer's or seller's market.

3. You can quickly and effortlessly navigate the homebuying journey.

The homebuying journey may prove to be long and complicated, especially for those who fail to prepare for it. Luckily, housing market data can give you a better idea about what to expect as soon as you kick off your search for your ideal house. Then, you can use this information to identify and address potential homebuying hurdles faster than ever before.

For those who are unsure about how to collect and analyze housing market data, there is no need to stress. If you collaborate with a real estate agent, you can get the help the you need to discover your dream house.

A real estate agent can provide you with the right housing market data, at the right time, every time. He or she also will allocate the necessary time and resources to explain the importance of assorted housing market data and paint a picture of the current state of the real estate sector. That way, you can take a data-driven approach to buying a house.

Perhaps best of all, a real estate agent is available to take the guesswork out of the homebuying journey. This housing market professional will keep you up to date about new houses as they become available and ensure that you can find a terrific house that matches your budget.

Ready to make your homeownership dream come true? Use real estate market data, and you can become an expert homebuyer in no time at all.




Categories: Buying a Home   Real estate  


Posted by Chad Goldstein on 2/25/2019

Personal financial in your twenties comes with a steep learning curve. One minute youíre studying for your finals and the next youíre expected to suddenly know about APR financing, 401(K)s, and fixed-rate mortgages.

If youíre in your twenties and are facing these new challenges, youíre probably equal parts terrified and excited for the future. And, although it can be anxiety-inducing to step into the world of personal finance, you have one tool to your advantage that your parents and grandparents didnít have: the internet.

So, in this article, weíre going to give you some tips about buying a home and managing your finances in your twenties.

Have an emergency fund

You probably have a lot of things you want to save for. Down payments on mortgages and auto loans, saving money for traveling, beginning your retirement funds, and maybe even starting a family; theyíre all important investments that will take time and financial planning to achieve.

However, one thing that many young people neglect when they first start saving is an emergency fund. There are any number of things that can throw a wrench in your plans in your twenties. You might lose a job and have to live off of savings while hunting for a new one. Maybe something goes wrong with your car and it costs hundreds to repair. Or, you could have unforeseen medical expenses that arenít covered by your insurance. Regardless of the reason, having an emergency fund will help you stay out of unnecessary debt.

Itís recommended to have at least 6 months of living expenses saved in your emergency fund. Once you have this amount saved, itís a good idea to keep it in a separate account to avoid spending it on things that arenít exactly an emergency.

Donít live above your means

We all know that buying a house, going to college, and even buying groceries are all exponentially more expensive than they used to be. However, itís still important to try to adjust your lifestyle to the things you can afford.

This includes the vehicle you drive, the first home you buy, and even smaller purchases you make.

Avoiding lifestyle creep

Related to our last point about living above your means, lifestyle creep is the phenomenon that occurs when you get a raise or a higher paying job: the more we make, the more we spend. However, itís possible to avoid this trend by keeping your finances in check.

The next time you get a raise, make sure that money is put to use in either your retirement fund or savings account. This method is based on the goal of ďgiving every dollar a job.Ē When every dollar you earn has a purpose, youíre less likely to spend it on new video game consoles every six months.





Posted by Chad Goldstein on 2/4/2019

Thereís few things in life that are more exciting than closing on your first house. All of the money that you saved and the paperwork that you have filled out has finally come together so that you can now say youíre a proud homeowner. 


Before you start planning your housewarming party, thereís a few things that you need to do with your new home and its contents.


Copy The Closing Paperwork


Undoubtedly, there were dozens of pieces of paper that were handed to you during the closing on your new home. You should have an extra copy of everything that was signed. While the local registrar of deeds probably has a copy of everything filed there as well, itís always a good idea to have extra copies of these papers.


Lock The Doors With New Keys


Youíll need to change the locks when you move into a new home as soon as possible. Many different people had the keys to the home while it was still on the market. Also, before the home was even put up for sale, family members could have passed sets of keys amongst family and friends. The lock category also includes securing sliding doors, electrical boxes, and windows accordingly. 


Put Your Name On It


Youíll need to place your name on a variety of things including your mailbox, the trashcans, the buzzer, and anything else that is property of you and your new home. If it wonít pose a privacy issue for you, itís better to claim whatís rightfully yours early on to ease confusion. 



Put Up Curtains Or Cover The Windows


Thereís probably 1,000 other things that you would rather do when you move into a new home than put up some curtains. Yet, this is so important to your privacy. Without curtains or window treatments, all of your home and its contents are exposed for the outside world to see. Until you have a chance to settle in, you can even use boxes or towels to cover the windows. This is used initially for a security measure to deter thieves and nosy neighbors.


Meet The New Neighbors


ItĎs a good idea to know who is living around you. For one, youíll be aware of any suspicious activity thatís happening in case you see strange people hanging around the area. Itís good to know who you live next to and what you might have in common with them. At the very least, youíll have a new friend. They might even water your plants while youíre away on your next vacation. 


Donít forget to change your addresses as well. Thatís always one of the biggest hassles about moving. Take the right measures for safety and comfort when you move into your new home for a smooth transition





Posted by Chad Goldstein on 1/28/2019

Ready to submit an offer on a house? Not so fast. First, you'll want to consider a few key questions, including:

1. Can I afford to buy a house?

If you find a house you like, make sure you can afford the monthly mortgage payments. By doing so, you may be able to avoid costly, time-consuming problems down the line.

Ultimately, getting pre-approved for a mortgage can make a world of difference, particularly for a homebuyer who is ready to submit an offer on a home.

With pre-approval for a mortgage, a homebuyer will understand exactly how much money is at his or her disposal. As a result, this homebuyer can avoid the temptation to overspend on a house.

2. Should I submit a "lowball" offer?

For many homebuyers, it may seem like a good idea to submit a "lowball" offer on a house. But doing so may be problematic for a number of reasons.

If you submit a lowball proposal, a home seller is unlikely to take your bid seriously. As such, this home seller may dismiss your offer and move on to other proposals quickly.

In addition, a lowball offer may cause you to miss out on the opportunity to acquire your dream residence.

When you locate the perfect residence, there is no need to leave anything to chance. If you submit a fair proposal that meets or exceeds a home seller's expectations, you can avoid the risk of losing your dream house to a rival homebuyer.

3. How much should I offer for a residence?

We've already established that a lowball offer is rarely, if ever, a good idea. Now, you'll just need to determine what differentiates a fair proposal from a lowball one.

A fair proposal accounts for the needs of both a homebuyer and home seller. It should be based on the current state of the housing market as well as the condition of a home.

For instance, if you're operating in a buyer's market, there is likely to be a broad assortment of homes available. This means a home seller may need to lower his or her expectations due to the sheer volume of quality residences currently on the market.

Don't forget to study the prices of recently sold homes in a particular city or town too. This housing market data will help you better understand how a residence you're considering stacks up against comparable houses so you can submit an appropriate offer.

4. Do I need a real estate agent?

A real estate agent will take the guesswork out of buying a home, and for good reason. This real estate professional can help you prepare an offer and will negotiate with a home seller on your behalf. That way, you can streamline the process of going from homebuyer to homeowner.

Hire a real estate agent before you submit an offer on a house Ė you'll be glad you did. A real estate agent will guide you along the homebuying journey and ensure you can secure a great house at a price that fits your budget.




Categories: Buying a Home   buying tips  




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