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Considerations for Today’s Tech-Savvy Home Buyers

There are a number of great apps and programs that can easily control the systems in your home – many of which can be mastered even if your tech skills are less than expert.   Here are some tech-related tips to consider when buying a home in today’s market!


Get connected

While most homes will be wired for cable and Internet, you might want to see if the nearest cell tower is providing good mobile phone service for you in case your Wi-Fi doesn’t reach to that grill in the backyard. Obviously, if you love the home this may not be a deal-breaker, but it’s nice to know if you’ll need to consider switching phone carriers before moving into your new abode.


Create a smart home

Many buyers want to connect their home’s systems, appliances and technologies so they can easily control them from their mobile devices. A common example of this is the Nest thermostat, which becomes intelligent to your living habits over time and turns itself down when you’re away.  Nest also features a live-streaming service, to provide a full smart home service that includes smoke and carbon monoxide detection.

The Rachio smart sprinkler system is good way to keep your utility bills down. Rachio measures weather conditions in your area and makes sure your lawn is watered only as much as it needs to stay lush and green.

While devices like Nest and Rachio help you save money, many other smart home products are designed with convenience and safety in mind. For example, products like Ascend and LiftMaster open and close your garage door from your smartphone, allowing you to let in guests when you’re not around or to double check that your home is secure even after you get to work.  Similarly, the August Smart Lock detects when you (or approved guests) are approaching and unlocks your front door. That’s right — you can finally carry all seven grocery bags into your home at once! Plus, August’s customization options mean you can give 24/7 access to your world-traveler brother who shows up unannounced but only let your contractor in when you have a set appointment.

Also, for those of us who aren’t morning people, there are several automatic coffee makers out there that will brew coffee on demand from your smartphone in just minutes. Although you can set up a brew time in advance, just think of the power you’ll feel when you hit “brew” — then “snooze” — allowing a few more minutes of sleep and the promise of a fresh cup of joe when you finally arise!


One final thought – remember that if you control security systems or smart appliances with your mobile phone, you need to be sure the device is protected against hackers. Add a pass code to your phone, and download an app that will remotely erase data if your phone is lost or stolen.

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Home Buying Tips Home Insights Newsletter Featurettes

6 Tips for a Successful Home Search

Thinking of buying? 

Whatever the reason – a recent “life event”, upsizing, downsizing or tired of paying rent
– it’s a great time to achieve your homeownership goals!

Pre-Tip: Get a Rector Hayden Agent to assist you.

#1.  Determine your limits

Financial experts often say that you shouldn’t spend more than 28 percent of your total income on housing, but it really varies for each person.  Keep in mind that your current credit score will be a major factor in how much money you can borrow.

You can determine your general range by playing around with online mortgage calculators, but it’s best to work with a lender to get pre-approved for a mortgage.  Why?  Well, the difference between a $200,000 and $250,000 home can be stark, and it’s best not to get your hopes up before you know what you can afford.  Your Rector Hayden Agent will be invaluable in guiding you to the best lenders in town – including Rector Hayden Mortgage!

#2.  Begin the hunt

Now the fun stuff – the online search!  Just 20 years ago, buyers had to search through thick, printed listing books to find homes that matched their price and location. Luckily today, your search can begin from your couch……or while in line at Starbucks.

Rector Hayden’s top home-search website and exclusive home search app have every available MLS listing in Lexington and Central Kentucky – updated at the top of every hour — so you can perform the most accurate and up-to-date searches!  Set up an account on either and save and share homes with your family and friends – as well as connect with your agent so they can see your likes and dislikes as well!

#4.  Finalize your needs

You may find yourself falling in love with homes in different locations, with varying styles, prices and features. That’s actually a good thing in today’s seller’s market — to get to the closing table, it may be necessary to keep your mind open to several options.

Work with your Rector Hayden Agent to determine your top needs, and then keep in mind the qualities and amenities that are unlikely to change versus those that you can alter. For example, a neighborhood’s walkability is pretty set, but you can always tear up carpet to put in hardwood floors, or refinish a kitchen to get the farmer’s sink you love. Once you have an established set of needs, it’s time to begin looking in earnest.

#5.  Tour inside homes…and think resale

Your Rector Hayden Agent will set up the showings for you – and as you view the homes and get the overall “feel”, if can be beneficial to think of yourself as an inspector. Pay attention to when upgrades were done, or if appliances have been replaced recently. It’s important to take note of how much work your eventual home will need.

It’s also good to talk with your Rector Hayden Agent about the potential resale value of the home.  At this point, you may not have any thoughts about ever selling – but it’s wise to ensure that your investment will be a good one in the future, should you ever decide to sell.


Want to learn more about the Home Buying Journey?  Walk through our online e-journey to get a feel for all of the steps toward buying your next home.  But remember, a Rector Hayden Buyer’s Agent is your BEST resource on your home buying journey!

buyersjourney_screenshot

 

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Home Buying Tips

5 Things to Look for in the Best Starter Home

Getting you a Starter Home for the Holidays…

Today’s discussion is geared toward New / First-Time Homebuyers and looking for the best starter home.  Maybe you’re a millennial breaking into the world, or a professional looking to put down some small roots in an area.  This home isn’t going to be your dream home or your forever home – but it is going to be HOME.

“If I’m Renting my current home/condo/apartment, I’m not paying a mortgage!” … MYTH!

Truth is… you’re paying a mortgage either way.  As a homeowner, you’re paying your own mortgage and building equity – but as a renter, you’re paying the building owner’s mortgage for the property or at the least the property taxes.  So, you may want to reconsider if renting is the best choice for you!  You could be investing your money in your own property.

5 Things to Look for in the Best Starter Home

1. Low Maintenance – Especially low maintenance fees

 

Consider a smaller yard for your starter home. Image pictured is of a garden hose.Unless you LOVE yard work, look for a starter home with a smaller outside space.  Homeowner responsibilities can be a bit more than you may be used to, so don’t take on acres and acres of land if mowing and landscaping aren’t your strong suit (and you don’t want to spend a lot of money on care).  Or, look for a home that is part of an affordable Home Owner’s Association that would take care of the outdoor work for you.  Yard management is very important, especially if you still plan to do a lot of traveling [still returning home for the holiday seasons?].

 

2. Smart Location

 

Location of your starter home is very important. The image picture is of a city intersectionThe golden rule of real estate: “Location, Location, Location”  –  Look for your new starter home in a good location.  Close to your place of work, or convenience shopping & needs.  Do you normally take public transportation?  Look around for areas on bus routes.  Or, do you like running in the park?  Look for home options near your favorite places!  And remember, you don’t have to look far away from the city to find your price range – especially if living far out doesn’t fit your lifestyle … bringing us to tip #3!

 

3. Easy Lifestyle Transitioning

 

Try not to choose a starter home drastically different from your current situation. The image is of a bicycle parked outside of a town house.

 

Try not to suffer yourself culture shock by moving from a locale where you can walk to coffee shops all the way to living far out in quiet suburbia.  You can consider condos or townhouses as a great starter home option.  They can have convenient HOA options or overall low maintenance.

 

 

4. Budget-Friendly

 

Stay budget friendly when shopping for a starter home. You may consider talking with a loan officer about affordability. The image is of US American currency.Remember, this is your starter home.  Don’t get carried away just because you may qualify for a low down-payment or low monthly payments on your first mortgage.  Choose a starter home that fits your needs and lifestyle within reason.  Don’t overwhelm your finances on your first property.  Your forever home / dream home come later in life.

Talk to a Loan Officer about what you can get pre-approved / pre-qualified for. They can help you make the decision of what price range is the smartest for your budget and spending habits.  Rector Hayden Mortgage office is located in our main Lexington building – and would love to meet with you to discuss your options, no obligation!

Get started easy by using the RH Mortgage online Affordability Calculator

 

5. Manageable Care & Upgrade Options

 

If you aren't handy, don't pick a fixer upper starter home. Image is of a metal wrench.Don’t get sucked in to the DIY Pinterest phase and think you can ‘total home makeover’ a property.  If you know you aren’t handy, then don’t buy a fixer-upper. (Or, on the other hand – if you have a great contractor in your family, then buying a fixer-upper may be a great starter home project!).  What may look like a great deal still needs to be inspected.  Too many repairs can become quite costly and end up costing your much more.

 

BONUS:  If you’re thinking of renting for 5 years or so to save up money to purchase your next home – consider this…  Sometimes life can get in the way of a long-term plan like that.  Your savings for a big down payment could end up going elsewhere.  You may be closer than you think to making a good down payment and getting your first home!

Want to see what the first step is?  Check out the RectorHayden.com Buying Journey [Click Here].

 

This article is part of Rector Hayden REALTORS® – Home for the Holidays 2015
series of home buying and selling.