Categories Tips

Living in an HOA: Pros and Cons

 

After weighing options and considering your preferred lifestyle, you may find that living in an HOA (Homeowners Association) community is a good fit for you.

There are both pros and cons to the structure offered by Homeowners Associations, and taking a closer look at the rules and restrictions may provide you with a clearer understanding.

The PROs of Living in A Homeowners Association:

  • Access to a multitude of amenities that are maintained by the association. These amenities may include pools, walking trails, sports courts, barbecue pits, party halls, and more. Not only will you enjoy access, but these features are also very well maintained.
  • Built-in security – we do not mean in your home, but rather in your neighborhood. Most HOA communities will provide private security to ensure the safety of their residents. This means reduced crime rates and a higher pool of potential interested buyers.
  • In addition to security services, HOA communities will offer other management services, including trash pickup, storm water management, and additional similar services. You will not need to hire outside contractors to handle these chores; the fees are covered in your monthly HOA payment.
  • Homes in HOA communities are generally more aesthetically pleasing compared to those in other neighborhoods. Due to the restrictions, the HOA places on its residents concerning the quality of their homes, the neighborhoods are manicured and paved with smooth roads. This effort is maintained by both the residents and the HOA.
  • HOAs foster a sense of interconnectivity and comradery in the neighborhood. Living in an HOA community brings residents closer. The HOA will often host events during which residents come together and mingle – bringing back the old sense of what a neighborhood should be.
  • When there is conflict in the neighborhood, the board of directors is available to assist. Often times, the association will offer meditation to assist in resolving neighbor disputes, include but not limited to complaints about noisy pets, unkempt yards, and much more.
  • Higher home value – although you pay monthly fees, the market value for your home will be higher due to all of the benefits listed above.

The CONs of Living in a Homeowners Association:

  • Higher cost of living: Each month, you will be expected to pay HOA fees. These fees can vary depending on the community that you live in.
  • Restrictions: Your HOA may enforce rules in the community that differ from those in neighborhoods outside of an HOA. However, these rules generally help with the sense of community and improve the neighborhood’s security. They also apply to the aesthetics of your home. Most HOA communities place restrictions on the colors that you may paint your house, requiring prior authorization before making any drastic changes. They may also require that you keep your lawn and exterior of your home manicured.
  • Potential for poor management and poor representation. When you move into an HOA community, you may notice that either the board is too controlling or that they do not enforce the rules. Either of these scenarios can be disruptive to your daily living.

As you can see, there are both positives and negatives to living in an HOA community. If you are uncertain of whether to consider living in one of these unique neighborhoods, try asking yourself a couple of questions: What are the restrictions in the association? What is the association going to do for me? What is my commitment and responsibility to the association? Answering the questions in detail can help you find insight on whether a given association is a good fit for you.

Are You Interested in Selling Your HOA Home?

Due to the restrictions of living in the area, the buying pool is sometimes limited. The potential new owners of your new home will be seeking something similar to what you already had – structure, rules, and a sense of community. Therefore, marketing and selling can be slightly more challenging. However, if you would like to sell and avoid all aspects of selling your home on the open market, we can provide you with a simple solution.

We purchase homes located in associations and homes that come with HOA fees. We understand both the benefits and disadvantages of living in an HOA community and want to provide you with a simple way out if you feel it is time to move. If you would like to sell your home quickly and for all cash, just contact us today to get started with an evaluation.

Categories Cash Offer

Questions to Ask Before You Sell Your Home

 

Many individuals think selling their home will be a simple and speedy process – you hire a listing agent, market your home, and then get a check. However, there are many other factors that can greatly influence the process, including your own readiness to sell.

Reflecting on your personal motivations and goals regarding selling your home is key to a smooth transition. Below we outlined some questions you should ask yourself before entering the selling process, and we identified how an honest assessment of your answers affects the sale of your home.

What is my motivation to sell?

Why are you selling your home? Are you getting a divorce and looking to split ways with your ex? Did you lose a loved one and you are selling an inherited home? Are you taking advantage of the market? Are you looking to transition into a home better suited for your family size?

Assessing your motivation to sell can provide you with insight on whether or not you will sell your home. If you do not have a clear understanding of WHY you are selling your home, you may be hesitant to close. We have found that many buyers are resistant to offers that are below their expectations (even if they meet market comparisons) or get cold-feet when closing time arrives if they do not have a clear reason for selling. Ensuring that you are indeed ready to sell your home is the first step to selling successfully.

How much time and energy to do I want to put into preparing and showing my home?

Is your home ready to sell or does it need some improvements? Many realtors will suggest that you make minor repairs and upgrades before listing your home to maximize your return. There are buyers that are looking for move in ready homes and who don’t want the hassle of fixing the home – therefore, they are typically willing to pay more if the home is ready at move in.

So, it comes down what you are truly prepared and willing to do in order to sell your home for the best value – are you ready to commit the time and energy into fixing your home, then showing it to potential buyers? Additionally, are you financially prepared to invest in the renovations? If the answer is no, just remember that it may limit your buyers pool or reduce your profit. However, it is still possible to sell.

How much is my home worth?

Get your home assessed and understand what the true value of your home is – not your estimated value.

We have found that multiple sellers tend to believe that their home is worth more than the market supports, which is typically due to their emotional connection to the home. However, an individual’s emotional connection has no impact on the home’s value. What determines the home’s value is the market, the quality of the home, the amenities that the home has to offer, the neighborhood, and other comparable qualities.  Therefore, it is necessary to have your home valued before you put it on the market. This way, you can determine what your needed price is to sell, and decide whether or not you will be able to obtain an offer that will meet your expectations.

What is my ideal closing time frame?

Let’s circle back to – what is your motivation to sell? Do you need to sell quickly, or do you have time to market the home to get the highest offer? Allowing enough time for renovations and marketing can offer you a larger buying pool; however, if you are looking to sell quickly, this may affect your selling point.

Thinking About Selling?

These are just the first questions we recommend you reflect on to help determine if you are ready to sell. There are alternative options that can help expedite the process as well, reducing your need for investing financially and spending the time while the home is marketed.

What is this alternative? Selling to an all cash buyer. If you are considering selling, you should contact us. To get started, we will discuss with you your motivation and help you understand if and why this it is a good time to sell. From a market perspective, it is – however, we always want to ensure that before we buy from a client, they are ready to make the move. If we both agree that this is the time, we can provide you with a home evaluation, offer a quick close, and buy as-is, removing all hassle in the process for you.

Categories Tips

Why You Should Sell Your Home This Fall!

 

Have you been considering selling your home but uncertain whether it is the right time? Well, here’s the thing: there will never be a right time. Selling your home is life-changing and entails a variety of factors that need to be considered. However, if you are personally ready to sell, we are here to report that now is the time from a market perspective – selling your home in autumn brings a multitude of benefits. We understand that the decision to sell is not to be taken lightly – but at the same time, we want to encourage you to take advantage of your opportunity today.

Before we get started, let’s talk about why it could be risky to wait. Selling your home in winter can be challenging – families are focused on the holidays and do not want to spend their time managing financial challenges and moving. Instead, they want to be enjoying the time with their loves ones and spending their money on holiday goodies. This fact actually has a dramatic effect on local real estate markets – it means there are fewer buyers, creating less competition for sellers. Ultimately, housing prices decline at this time.

Now that we have examined why it is a bad idea to wait, let’s look at the benefits of selling NOW!

More Serious Buyers

For one, the pool of buyers shrinks in the fall. The summer months tend to bring excitement to individuals who are inspired by the beautiful summer weather. Unfortunately, many of the “potential” buyers during this season tend to be caught in the mood and are not serious buyers. Therefore, when fall begins, the hype ends, and so does the inflated buyer pool. What’s left? Serious buyers ready to make a move.

Less Competition

Selling your home in the fall may not be suitable for all – for those who have families or children returning to school, it may be too difficult to sacrifice that family time in the name of marketing your home and providing the flexibility for open houses. Additionally, many families are already preparing for the holiday season. With these personal obligations to manage, fewer people tend to sell their homes in the fall. How does this help you? With fewer homes available on the market, there is less competition, meaning you can sell your home at maximum value.

On the other hand, selling in autumn may also provide you with extra time to improve the home for increased value. As the kids are back in school, you can spend the days staging for sellers. Some studies indicate that appropriate staging can increase your home’s value by 5%!

Lower Repair Costs

Most homes are not ready for the market immediately after the seller has decided to sell. More often than not, the home has a multitude of repairs that need to be addressed. Fall generally brings better deals on repair tools and discounts on various services (as businesses try to maintain high revenue during an approaching slow season), giving you a reduction in expenses.

Better Time for You to Make Your Transition

After you sell your home, you will need to find a new place to reside. Consider this – as mentioned previously, moving in winter can save you money with reduced-price homes. Therefore, selling in fall can maximize your return by allowing you to sell high and buy low – the lucky trick of all successful real estate professionals!

Then, if you need any repairs, you will benefit from the same discount you found when you were selling your home.

Finally, selling and buying before 2019 may provide you with tax benefits! Consult with your accountant to see how this transition may affect your personally.

Quick Process

With all the above to consider, closing your home and moving into a new one can be expedited if you decide to sell now. As a bonus, some reports have even indicated the homes in Baytown spend fewer days on the market now compared to any other month in the year.

Are You Interested in Selling?

If you answered YES, it is time to get moving. Interest rates are rising, and experts are predicting a continued trend towards a buyer’s market. This means that the optimal time to gain the greatest benefit from selling your home is now.

To get started, contact us and we can complete an in-depth assessment of your home’s value. We can then offer you a competitive price and make the process even simpler. To make it even easier – we provide our clients with all cash offers! Don’t miss out or you may lose money in the future.

Categories Baytown

Heat in Baytown! 6 Ways to Cool Down and Save Money in Your Home…

 

Halloween is approaching, but here in Baytown we are still sitting in the sweltering heat – daily temperatures average in the 80’s! Most of us are wishing that the fall breezes would start blowing so we could warm up with a pumpkin spice latte from Starbucks. . . but we hate to be the ones to report: the heat in Baytown is expected to continue. Going to the beach and spending time in the water is not necessarily an option for all of us, especially since school is in session and the holidays are approaching. Therefore, we have come up with a list of 6 ways to help you cool down and save money:

  1. Switch to using fans. We understand that during such a hot summer, air conditioning has been essential. But the weather has become more tolerable, and it may be time to switch from AC units to fans. Although you will not have the luxury of sitting in 70-degree air, you may save hundreds of dollars each month.
  2. Do you have blackout curtains? Plenty of people operate under the belief that blackout curtains are for lazy people who want to sleep in. This misconception can be expensive! Blackout curtains actually help the cool air stay inside, reducing your need to turn on a cooling system.
  3. Only use fans and/or AC when you are home. One of the biggest summer expenses for individuals living in the area is paying for energy they use even when they are not home. If you are leaving the AC unit on all day, this could be costing you hundreds. Be sure to turn off all electricity when you leave the home – leaving more money to use the AC for when you are home.
  4. Check your air filter. If you insist on using your air conditioning, be sure that you are switching the air filters regularly. By switching the filter every one or two months, you could reduce your home energy use by up to 15%.
  5. Invest in energy-efficient HVAC equipment. If your HVAC system is over 10 years old, it is time to make a change. Unfortunately, even many of the most newer models are not the most energy efficient. Consider transitioning to an energy-efficient AC unit. Although this is quite the investment now, it can save you thousands in the end. Not only are you going to reduce your energy bills each month, but you are also reducing your carbon footprint. More good news – as summer ends, many of these units may be on sale, making it an optimal time for the switch.
  6. Consider moving. No, we are not suggesting you leave Baytown! However, if you are noticing that your energy bills were higher than expected this summer season, it may be time to consider upgrading.

The above-mentioned are just a few tricks for staying cool, but there are many other variables that affect your bills. For example, you might want to examine how well your windows and doors are maintained. Are they sealed, or is air flowing in and out? Poor maintenance on a home can increase your energy bills year-round.

If you are living in an old home, it may be time to transition and move into an energy efficient home. It’s nice to save money on the cooling system, but a more efficient home will mean better use of the resources needed in heating, cooking, water, electricity, etc.

Upgrading piece by piece is also an option, but only if you have the time and money to invest. Many residents of the area are not interested in completing the upgrades on their own and find it financially beneficial to consider a move.

Keep Staying Cool…

As you can see, the summers are getting longer, and the winters are getting shorter. Extreme weather is affecting us more than before, causing energy bills to increase. To prepare for this fall and for the future, how about taking a look at your option of moving into a new and upgraded home?

Getting started is simple – just contact us. We can discuss your options for improving the efficiency of your home, provide an in-depth analysis of your home to help you decide if this is the best option for you, and even buy your home if you decide to sell.

Categories testimonial

See what Kimberly Buik has to say about selling her inherited home!

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We love our sellers and see what Kimberly Buik had to say about selling her inherited home to us!

“I inherited this home through a death in the family and my son happened to have heard an add on the radio for this company, so we called. Madison is who we spoke to and she made the time to come out that same weekend when we would be there, to do the home evaluation. That following Monday they called me with their offer, I accepted. Although I was Madison’s first contract, she did a very good job. She made sure to get me the answers to questions quickly, kept me up to date with everything that was going on, and never had a problem talking with me or explaining things to me. This company made me feel very comfortable with everything and I am grateful for the help they were able to provide me with this inherited home.”

Let us help you if you inherited home from a family member![/vc_column_text][/vc_column][/vc_row]

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