Buying A Home Archives - Page 5 of 15 -

Monroe Ohio Real Estate: Monroe Crossings Subdivision

The Lowry Team: How To Choose A Builder

December 16, 2014 by Eric Lowry Leave a Comment

New Home Construction: How To Choose a Builder

New construction is hot right now! According to the Cincinnati Business Courier, Drees Homes is building $100 million in new homes. Now is the time to start the process if you have been considering building a new home. Finding the right builder for you and your needs is key.

Take the following steps to guide you through the process of choosing a builder:

1. Identify the parameters of your home building process. Determine what type of home you would like to build, as well as the size of the home and the price range you would like to stay within.

2. Gather the names of local home builders. Get a list of of builders in the area from your local home builder’s association. Also, talk to family and friends who have built homes.

3. Do your homework! Find out how long the home builder has been in business and what kind of experience they have. Ask for references. Drive by the homes and talk to past clients.

4. Verify that the home builder is licensed and insured according to local laws.

5. Tour model homes, open houses and home shows of various types of builders. Pay attention to the quality of the work.

When you choose a builder, you must ask lots of questions! When checking references, ask the former clients the following questions:

1. Are you happy with your home?

2. Were there any problems throughout the process? How were they handled?

3. Would you use this builder again? Why or Why not?

Here is a partial list of questions that you should ask the builder:

1. How many years have you been in business? How many homes have you built?

2. Are you licensed and insured?

3. What type of warranty do you offer?

4. What standard features are included? What additional options are available?

5. How and when will the final home price be determined?

6. How long will it take to build my new home?

7. What is the process for making corrections, changes etc.?

8. Can you provide me with a list of references for me to contact?

An experienced real estate agent can help you through the process starting with how to choose a builder. If you have been considering building a new home, Contact The Lowry Team of Keller Williams Realty at 513-874-1830.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other articles you may be interested in:

Homearama 2015: Willows Bend In Miami Township

Four Bridges Subdivision and New Home Construction In Liberty Twp

Foxborough Subdivision and New Homes For Sale in West Chester

Reasons To Buy A New Construction Home For Sale

New Home Features in 2015

Search The Cincy MLS For New Homes For Sale

Search the Cincinnati MLS For Homes For Sale

Do I Need A Bigger Down Payment Before I Purchase A Home?

December 11, 2014 by Eric Lowry Leave a Comment

Q. Is it better to wait until I have a bigger down payment before I purchase a home?

A. It completely makes sense to want to have a bigger down payment before you buy. However, the longer you wait to buy, the more the house is going to cost you.

We have most likely already seen the lowest interest rates that we will see for awhile. Interest rates are projected to rise to 5% by 4th Quarter of 2015, according to Freddie Mac.

Not only are interest rates rising over time, but the cost of the house is increasing as well. If you take into consideration that both interest rates and the price are going up, are you going to be able to save what you consider to be a large enough down payment?

For example, if you were to purchase a $250,000 house at a 4.10% interest rate today, the monthly payment would be $1208. If you continue to save your money for a larger down payment, the same house will cost $260,000 with a 4.8% interest rate in September of 2015. Now your monthly payment will be $1364.13. That is a difference of $156.13 a month, $1873.56 a year or $56,207 over the course of a 30 year fixed rate mortgage.

Can you really afford to wait?

Contact Eric Lowry, CEO of The Lowry Team, for more information about the housing market, interest rates, buying or selling a home. He can arrange for a FREE Buyer’s Consultation to help you determine what the best course of action is for you.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other articles you may be interested in:

Where Will 30 Year Mortgage Rates Be In 12 Months?

Hire A Real Estate Agent To Get The Home You Want

Best Places to Live in Cincinnati

West Chester Ohio Is One Of The Best Places To Live

Southwest Ohio Schools In Top Ten On State Report Card

Factors To Consider When Buying A Home

Search Homes For Sale By Subdivision At CincyHomeSeller.com

New Construction Homes For Sale in Liberty Township

Where Will 30 Year Mortgage Rates Be In 12 Months?

The Lowry Team Keller Williams: Red Flags For Home Buyers

December 10, 2014 by Eric Lowry Leave a Comment

Red Flags for Home Buyers

Purchasing a home is often the largest financial investment a person makes in their lifetime. Therefore, it should be done with a lot of care and thought throughout the process. When looking for a new home there are some red flags for home buyers to be aware of:

Too many homes for sale – If there are a lot of homes for sale in the same neighborhood, I would do a little investigating. Try talking with some of the neighbors and contact the local police for crime reports.

Poor maintenance – If it appears that the house is not very well maintained, that may mean big bucks down the the road for the home buyer.

Freshly painted wall – The key word here is wall. If only one wall in a room or area has been painted it may be because the home owner is covering something up. Perhaps there is mold or water damage underneath that fresh coat of paint.

Old wiring – Aluminum wiring can be very expensive to replace. If you are not sure about the electrical work in the house, have a professional take a look.

Foundation issues – Check carefully for cracks in the foundation. Also, if there have been major renovations, check into whether load bearing walls have been removed.

Off-limits areas – There may be areas of the house that you do not have access to when previewing the home. Be sure to make arrangements to see these areas prior to purchasing the home.

A real estate agent will advocate for you and your interests throughout the whole home buying process, which makes it important for you to find the agent that will best fit your needs.

Contact The Lowry Team today to start your home search. 513-874-1830

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Buying A Home In Today’s Market

What You Should Know Before Buying A Home

Hire A Real Estate Agent To Get The Home That You Want

The 6 Most Essential Home Buyer Tips

Search the Entire Cincinnati MLS for Homes For Sale

Search the Cincinnati MLS For Homes For Sale

Where Will 30 Year Mortgage Rates Be In 12 Months?

December 5, 2014 by Eric Lowry Leave a Comment

Q. Where will 30 year mortgage rates be in 12 months?

A. No one knows for sure where interest rates will be this time next year. However, home buyers are wondering if they should take advantage of the current market and buy now or should they wait.

If you survey The National Association of Realtors, Freddie Mac, Freddie Mae and The Mortgage Bankers Association, they all have their own hypothesis. These leading analysts are projecting that mortgage rates will be between 4.6% and 5.2% by 3rd quarter next year.

If you look at mortgage rates by decade, even with rising interest rates, we can currently buy a home at a better interest rates than anyone in the last 4 decades. In the 70’s interest rates averaged 8.86%, in the 80’s they were 12.7%, in the 90’s they averaged 8.12% and in the 2000’s they were 6.29%.

So, according to historic findings and the leading analysts projections, interest rates will be higher in 12 months. The good news is that they will still be lower than the last 4 decades before this.

Contact Eric Lowry, CEO of The Lowry Team, for more information about the housing market, interest rates, buying or selling a home.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other articles you may be interested in:

The Ten Most Expensive Homes Sold In West Chester And Liberty Twp

Best Places to Live in Cincinnati

West Chester Ohio Is One Of The Best Places To Live

Southwest Ohio Schools In Top Ten On State Report Card

Factors To Consider When Buying A Home

Search Homes For Sale By Subdivision At LowryTeam.com

New Construction Homes For Sale in Liberty Township

Luxury Homes For Sale in West Chester