Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png First Time Home Buyer Tips and Advice That Must Be Read! – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Wed, 24 Sep 2014 11:20:05 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 First Time Home Buyer Tips and Advice that must be read![/caption] Whether purchasing a car for the first time, a home for the first time, or anything for that matter for the first time, it can come with much confusion, a high level of uncertainty, and even some stress.  The home buying process is often seen by many as a "daunting" process.  This doesn't have to be the case though, if the proper preparation and research is done. Each and every person who purchases a home normally will have different experiences, hurdles to overcome, and ultimately have their own opinion on the home buying process, so beware of many opinions when talking with family, friends, and co-workers.  Even though the majority of home buyers are different, the home buying process is usually the same.  There is a general outline that should be followed when buying a home for the first time. Here are several first time home buyer tips and some advice to help make the process of purchasing a home for the first time much less stressful and seamless! How Much Can You Afford Whether a consumer is purchasing a car for the first time, a home for the first time, or a set of golf clubs for the first time, it's important to know how much can be afforded!  This is an extremely important part of the home buying process.  Many first time buyers don't realize or understand that it's extremely important to know how much they can afford before looking at homes!  It's common to have first time home buyers contact real estate agents and get upset when they are educated on the importance of finding out how much home they can afford before getting out into the marketplace!  It's important that a first time home buyer understands what the costs of buying a home are but also why they are involved. Not only is it important for a first time home buyer to know how much they can afford, but it's also important to understand the difference between a pre-qualification and a pre-approval.   First and foremost, a pre-approval is more attractive to a seller than a pre-qualification.  A pre-qualification is a quick and very general overview of a first time buyers financial situation.  The information used for a pre-qualification is usually given to the lender by the potential mortgagee, which can often be inaccurate.  In addition to the general overview of the first time buyers financials, the lender usually will pull a credit report to make sure the credit scores are within the required guidelines of the different loan programs. A pre-approval is a detailed look into a first time buyers financials.  It includes a lender pulling a fact data (Tri-merge) credit report, collecting the first time buyers pay stubs,  W-2's, verifying their employment, and any other information needed to approve the buyer.  This process may sound much more difficult, but depending on the lender that a first time buyer chooses, it doesn't have to be!  Having a pre-approval instead of a pre-qualfication is not only attractive to a seller, but also can be the difference in a first time buyer winning in a multiple offer situation! [caption id="attachment_1458" align="aligncenter" width="415"]Set Realistic Expectations when purchasing your first home! Set Realistic Expectations when purchasing your first home![/caption] Set Your Expectations When buying a home for the first time, an extremely important tip is to make sure expectations are set.  By setting realistic expectations, the chance to be disappointed or let down is minimized.  So, what type of expectations should be set before purchasing a home for the first time? Once a buyer knows how much they can afford, it's important to figure out what will their money get them.  When buying a home for the first time, it's important to do it with a purpose and a realistic goal in mind.  How big of a home can be afforded?  What style of home is desired?  What are acceptable locations of the home?  It's important that first time buyers have a strong feeling on items like these but also a good idea on which items they are willing to be flexible with.  It is a great idea to prioritize these items in order of importance. Buying a home with no expectations or goals in mind is no different than going to a grocery store with no list or budget.  By going to a grocery store with no idea what will be purchased often will end up in lots of wasted time walking around aimlessly and ultimately not getting the results that would be expected.  By having that strong grasp on the style of home, the size of a home, and other characteristics that are desired in a home will save a first time buyer lots of time and also ensure they are purchasing their first home while staying within the range of what they are able to realistically afford.  It makes no sense for a buyer who is pre-approved for a loan amount of $150,000 to look at local luxury homes.  A great real estate agent should be able to help a buyer set realistic expectations. Learn About the Home Buying Process The home buying process is exactly that, a process.  There are certain steps that need to be taken to ensure the process of buying a home for the first time, goes smooth.  By understanding the process, it greatly reduces the chance that a buyer is disappointed, let down, heartbroken, or frustrated.  There are many things that a first time buyer should be doing before looking for homes, such as getting a pre-approval, but also many things that a buyer should be doing once they are under contract on their future home.  Many first time home buyers don't understand why it generally takes 60 days from contract to closing. [caption id="attachment_1459" align="aligncenter" width="400"]Understanding the local real estate market is important when purchasing your first home! Understanding the local real estate market is important when purchasing your first home![/caption] Get Educated on the Local Real Estate Market When purchasing a home for the first time, it's important a buyer understands the local real estate market.  There are many ways this can be accomplished.  The internet has completely changed the way the real estate industry works in 2014!  There is so much information available on the internet that can certainly help a buyer understand the local real estate market.  The internet is great for providing a wealth of information, however, it's also important a buyer understands that not everything that is on the internet is true.  Really it isn't!  There are many third-party real estate websites on the internet that provide some very inaccurate information.  A perfect example of inaccurate real estate information are the "Zestimates" that Zillow provides to consumers.  The inaccurate information provided by these third-party real estate websites is not only specific to the Webster, NY real estate market. The best place for a first time home buyer to get educated on the local real estate market is by a local real estate professional.  If someone was looking to have a dental procedure done, they wouldn't go on the internet to look how to do the procedure or call their chiropractor.  They would call a local dentist for their assistance.  A person in Rochester, NY who is in need of a dental procedure would have no use for a dentist in Grafton, MA.  The same can be said for a first time home buyer.  A first time home buyer in Grafton, MA should not be looking to a Grafton, MA real estate agent for information on the Rochester, NY real estate market.  It is important for a first time home buyer sit down with an experienced and knowledgeable local real estate agent to ensure they have a strong understanding of the local market! Selecting a Real Estate Agent Buying a home is a very large event in life.  It's not something that should be done without the help of a trained real estate professional.  There are many things that a real estate agent is responsible to ensure are getting completed accurately and timely throughout the transaction.  Ensuring a buyer has secured a pre-approval from a reputable lender, ensuring contract dates are being followed, and negotiating on the buyers behalf to get them the best price for a home are just a few items that a buyers real estate agent is responsible for!  Without this guidance, it's very easy for a first time buyer to make a mistake that can cost thousands of dollars. There are many questions that a first time home buyer should ask a real estate agent, before selecting them!  It's common and understandable that a first time home buyer has more questions than someone who has purchased 5 homes.  So, would it be a good idea for a first time home buyer to select a part-time real estate agent?  Probably not!  To be a successful real estate agent, there are many long days (and nights), which many times cannot be accommodated by a part-time real estate agent.  In addition to whether an agent is part-time or full-time, other great things to ask a real estate agent is; How many sales do you complete a year?  In what ways can/do you communicate?  Can you provide me with some references or testimonials? There is often a general consensus that the real estate profession is one that can be done by anyone and that it's "easy-money."  This is very far from the truth.  There are people entering and exiting the real estate profession on a daily basis.  This is why it's extremely important that a first time buyer asks any potential agent that they are thinking of selecting these difficult questions. Are There Any Incentives or Grants Available First time home buyers are often able to take advantage of first time home buyer grants or incentives.  It's important that a first time buyer understands that every lender is different.  From the interest rate they are able to offer, the type of loan products they offer, to the incentives or grants they are able to offer. A lender who may not offer a grant to first time home buyers, may never mention it.  When selecting a lender, it's a good idea for a first time home buyer to research all of their options.  It sometimes is a good idea to reach out to a local real estate professional before locking into a local mortgage lender.  A great real estate professional should be able to understand a first time buyers situation and be able to suggest reputable companies who may offer the best type of product and/or grant for that buyer. [caption id="attachment_1460" align="aligncenter" width="509"]Consider all expenses involved in owning a home! Consider all expenses involved in owning a home![/caption] Consider All Expenses Involved in Owning a Home Many first time home buyers make the mistake of not considering the costs of owning a home.  It's common that a first time buyer purchases a home that is the absolute maximum they can afford according to a lender.  This can lead to problems once the buyer realizes the other expenses involved in owning a home.  First time home buyers often forget about additional expenses of utilities, furniture, appliances, insurance, and groceries, to mention only a few. A first time buyer who doesn't consider these additional expenses often will have to change their lifestyles, which can be difficult for some.  Instead of living with mom and dad who had cable TV and high-speed internet, they may now have to live without these luxuries.  Bottom line, a first time home buyer must consider all the expenses and possible changes to their current lifestyle that may occur once owning a home! The above advice and tips are extremely important to a first time home buyer.  By understanding these tips, it can make the process not seem as "daunting" or difficult!  A first time buyer needs to understand and feel comfortable with the professionals they are working with that "no question is a dumb question!"   Other First Time Home Buyer Resources  Are you a first time home buyer in the Greater Rochester, NY area?  Contact us and we'd love the opportunity to explain the home buying process, educate you on the local Rochester, NY real estate market, and help find your "dream home!"  We love first time home buyers!  
About the authors:  The above article "First Time Home Buyer Tips and Advice" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>