Do You Need a Home Inspection When Buying a Virginia Beach Home?
After you’ve found the perfect home, made your purchase offer, and the sellers have accepted your contract, the next step is having the property inspected. If you’re a first-time home buyer, you may wonder why a home inspection is important, or you may wonder what you should gain from having the property inspected.
The International Association of Certified Home Inspectors defines a home inspection is “a non-invasive, visual examination of the accessible areas of a residential property, performed for a fee, which is designed to identify defects within specific systems and components defined by these Standards that are both observed and deemed material by the inspector.”
It is important to note that a home inspection is conducted by a certified home inspector, who is there on your behalf, as a buyer, to inspect the property for deferred maintenance issues and other potential needed repairs that you can’t see from simply looking at the home. The home inspector examines the overall structure and systems, and then he or she provides you with a snapshot of the property. A home inspector does not grade the property or give it a pass or fail; instead, they provide a report containing vital information and recommendations to review and to discuss with your Virginia Beach VA real estate agent.
What Are Main Items Checked During a Home Inspection?
- HVAC systems for leaks, efficiency, and remaining life expectancy
- Electrical systems for safety and any code violations
- Hot Water Heater
- Plumbing systems for venting, distribution, and drainage
- All appliances that convey to ensure they are operational
- Doors, windows, attic, and crawl space for structural components
- Adequate insulation
- Roofs for leaks and missing shingles
A typical home inspection can take 3 or more hours to complete, depending on the size of the home, and if possible, you should attend the home inspection so you are fully educated on your new property.
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Tags: Buying a home in Virginia Beach VA, Buying a house in va beach, Real estate agent Realtor Virginia beach, The best realtors in virginia beach va, Tips for buying a house in Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA | 
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Check List for Purchasing a Condo in Virginia Beach
When you make an offer on a condo in Virginia Beach VA, you have a period to review the condominium documents from the day you receive them. This period of review is given to buyers, so they have amble time to investigate the rules and regulations of the condo association.
Here are just a few things to consider and review in the condo documents when buying a condo in Virginia Beach VA.
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How much are the monthly dues, and what do they include? Some associations include water, parking, and even cable in their monthly fees, which can lower your other outgoing expenses and help in budgeting.
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Does the association have a healthy reserve of funds? A strong financial reserve can eliminate the need for upcoming assessments if a costly building repair is needed.
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What is the current pet policy? Many condo communities allow pets up to a certain weight or limit the number of pets per unit. If you have a pet or are considering getting one, this is a rule that you should explore throughly.
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Are there any restrictions on the use of the property, which would limit your enjoyment of it?
Condo living offers a wonderful way of life for many people, but be certain you read the rules and regulations in the condo documents prior to moving forward with your purchase. For more information about purchasing a Virginia Beach VA condominium, contact me today!
Posted in Buying a Home in Virginia Beach VA, Condo and Town Homes in Virginia Beach VA, Purchasing a Home in Virginia Beach VA, Real Estate Tips in Virginia Beach VA | Tags: Buying a home in Virginia Beach VA, Real estate agent Realtor Virginia beach, The best realtors in virginia beach va, Tips for buying a house in Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA | No Comments »
New EPA Freon Mandate Affects All Home Owners in Virginia Beach VA
A recent EPA mandate to reduce the production of R-22 Freon that is used in air conditioning units made before 2010, has taken many Virginia Beach Virginia home owners by surprise and most are still unaware of the change and upcoming price increases.
The changes we see today, stem from the Montreal Protocol on Substances that deplete the Ozone Layer that began in 1987. The main culprit is R-22 Freon, which is used in an estimated 80% of residential air conditioning systems. The EPA has recently forced manufactures to cut down their production of R-22 Freon and have plans to have it completely phased out by the year 2020.
Eric Hawkins, president of Hawkins Heating and Air Conditioning, which is located in Virginia has been following the developments, so he can educate his clients about the increase before they need refrigerant. “It’s supply and demand. Supply and inventory are low, and demand will remain high, which will increase the cost,” Eric says.
Eric explains that in many cases, it will be cost efficient for home owners to replace their systems instead of chasing the cost of a product that is being phased out. “We are educating our home owners now, so they can avoid having to pay a premium to have their systems filled with R-22,” Eric says, “ and as the EPA continues to reduce production, the cost of R-22 will continue to rise.”
The new refrigerants, which will eventually replace R-22 Freon, dissipate much quicker and allow less leakage into the atmosphere, providing the EPA reason to aggressively decrease production. In 2013, production was reduced by 30%, and most agree it will be stepped down each year until all manufacturing of R-22 Freon is ceased in 2020.
Posted in Buying a Home in Virginia Beach VA, Real Estate Tips in Virginia Beach VA, Selling a home in Virginia Beach VA | Tags: Buying a home in Virginia Beach VA, homes for sale in va beach, Real estate agent Realtor Virginia beach, The best realtors in virginia beach va, Tyson Bradley Keller Williams Virginia Beach VA | No Comments »
3 Ways to save for a Down Payment When Purchasing a Home in Virginia Beach VA
If you plan to purchase a home in Virginia Beach VA using conventional financing and want to avoid paying PMI (Property Mortgage Insurance), then, you’ll want to have enough reserves to put down 20% of the purchase price. If your home budget is $150,000, you will need to a$30,000 down payment.
For many, saving the down payment can seem overwhelming, but if you follow these 3 easy steps, you’ll have your down payment for a home in Virginia Beach VA in no time.
Review Your Finances:
The first step is to take a good look at your current income and your current monthly expenses and find ways to cut back to save more money to put towards your down payment. Reevaluate the amount you spend on entertainment, dining out, and all other non-essentials.
Stop Using Credit Cards:
When you pay cash for items, you will quickly realize how much you are spending and how fast small items add-up. If you only allow yourself a certain amount of cash for weekly coffee, lunch, and groceries, your set budget will be easier to follow. You will also be able to pay-off your credit cards faster when they aren’t being used.
Check Your Credit Score:
Check your credit score for errors with Equifax, Experian, and TransUnion. These are the three major reporting bureaus, which are used by lenders to approve your home loan. Review them for any errors, and if you discover discrepancies, begin the process of correcting them so they will not affect your home purchasing power.
Posted in Buying a Home in Virginia Beach VA, Purchasing a Home in Virginia Beach VA, Real Estate Tips in Virginia Beach VA | Tags: Buying a home in Virginia Beach VA, Buying a house in va beach, Real estate agent Realtor Virginia beach, The best realtors in virginia beach va, Tips for buying a house in Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA | No Comments »
Should You Have a Moving Sale before Listing Your Virginia Beach Home?
Many home sellers worry about devaluing their property if they hold a moving sale before they place their Virginia Beach VA property on the market. It is not typically
recommended to hold a moving sale while your home is on the market, but a
moving sale before you list has several advantages.
The first step in preparing your Virginia Beach VA home for sale is de-cluttering, and it’s important to resist the temptation to store items in closets, basements, or garages. By selling unused or unnecessary items, you will free-up space in your home allowing buyers to determine how well your home will accommodate their belongings.
A moving sale will also give you the chance to begin organizing for your upcoming move. This is a crucial step in deciding what items you will take with you and which ones you will not need. A good rule of thumb is to keep only the things you will use in your next home and part with anything that has not been used in a year. After the moving sale, you can donate the unsold items to friends or to your favorite local charity.
If you keep these tips in mind, a moving sale will give you a jump-start on your pending move and provide greater market appeal to potential buyers in Virginia Beach VA, which may result in a quicker home sale. For more information about selling your Virginia Beach VA home, contact us today!
What to Know When Purchasing an Older Home in Virginia Beach VA
Older homes in Virginia Beach VA generally offer more charm and character than their newer counterparts. The older homes in and around Virginia Beach VA have unique architectural features and characteristic details, such as larger rooms, formal rooms, high ceilings with deep crown moldings, original hardwood floors, custom hand-crafted built-ins, and large lots with mature landscaping.
In many cases, older homes are located in established neighborhoods that offer a variety of architectural styles and exterior materials. You’ll also discover most surrounding properties have larger lots with mature landscaping and gardens that increase and add beauty to the community.
Of course, older home can come with their own challenges, but if you are drawn to the beautiful character and features of older homes in Virginia Beach VA, keep these tips in mind, and your purchase may be one of the best real estate decisions you make.
Floor Plan – Pay attention to the floor plan. Is it family-friendly and allows for good traffic flow?
Updates – Are the kitchens and baths updated? If not, does your budget allow for upgrades?
Repairs – Be certain to have a home inspection by a certified home inspector to determine the age and lifespan of electrical system, plumbing, and conveying appliances.
Structure – Look for possible moisture or structural issues. Even if these are small, you’ll want to address them or have a budget in mind for future repairs.
Posted in Purchasing a Home in Virginia Beach VA, Real Estate Tips in Virginia Beach VA | Tags: Buying a home in Virginia Beach VA, Buying a house in va beach, homes for sale in va beach, The best realtors in virginia beach va, Tips for buying a house in Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA | No Comments »
How to Choose the Right Agent to Sell Your Virginia Beach VA Home
When choosing a real estate agent to sell your Virginia Beach VA home, it’s important to inquire about an agent’s market knowledge, past sales performance, client referrals, and property marketing. Most experienced agents come prepared to discuss the selling process, but here are a few questions, you may want to ask before making your final decision.
How familiar are you with my neighborhood? An agent’s market knowledge is crucial when listing a Virginia Beach VA home. A real estate agent, who has successfully completed several transactions in your Virginia Beach VA community, will know how your home’s condition compares with homes that have recently sold.
How many transactions did you completed last year?In today’s real estate market, it takes a full-time professional real estate agent to thoroughly price, market, and sell a property. An experienced agent will have referrals and a portfolio of homes that they’ve listed and sold. Most real estate agents in Virginia Beach VA will provide names and contact information for at least three clients.
How will you market my home? It takes more effort than simply placing a For Sale sign in your yard to attract serious qualified buyers. Your Virginia Beach VA real estate agent should have a clear marketing plan that includes a blend of print and online advertising, and any upcoming open houses or broker tours should be discussed in advance.
How often will you communicate with me? When you sell a home, it’s important to be kept updated on all market changes. Your agent should communicate new listings, alert you to price adjustments, and let you know when similar homes have gone under contract. Having this information will assist you in making value-based decisions about your own property.
Posted in Real Estate Tips in Virginia Beach VA, Selling a home in Virginia Beach VA | Tags: homes for sale in va beach, selling a virginia beach va home, The Best Real Estate Agent to Sell My Virginia Beach VA Home, Tips for Selling a Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA | No Comments »
3 Tips for Purchasing a Home in Virginia Beach VA
It’s a great time to buy a new home in Virginia Beach VA. Low interest rates mean homes are more affordable now than in previous years, and there are many fantastic properties currently on the market throughout Ontario. As you begin your new home search, keep these three tips in mind for a successful and seamless home purchase.
1. Seek a Local Expert. A local Virginia Beach VA real estate expert will be an objective partner and provide professional advice about neighborhoods and communities. When you are ready to make an offer, they will have the most recent neighborhood comparables needed to help guide you through the offer process.
2. Speak with a Lender. It’s important to talk with a lender for a pre-approval before you begin shopping for a home. Your lender will discuss affordability, estimated monthly payments, and financing options. Having this information before you find that perfect home allows you to look at properties that are realistically within your budget and comfort level.
3. Take Notes and Pictures. When you are searching for a Virginia Beach VA home, it may be hard to remember the small details of every property that you have viewed. Each time you see homes with your agent take photos and make notes. Be sure to jot down the positives and negatives of the home, the grounds, and the surrounding areas. Having detailed notes really comes in handy if a home is reduced in price or if a neighboring property comes on the market.
Posted in Purchasing a Home in Virginia Beach VA, Real Estate Tips in Virginia Beach VA | Tags: Buying a home in Virginia Beach VA, Buying a house in va beach, Real estate agent Realtor Virginia beach, The best realtors in virginia beach va, Tips for buying a house in Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA, virginia beach real estate | No Comments »
Town Homes and Condos Are Making a Comeback in Virginia Beach VA
Traditionally, there have been milestones in life, which indicated it was time to sell the large family home and purchase a town home or condo; however, downsizing has changed over the last few years, and people of all ages are returning to the urban core of Virginia Beach or to smaller golf or resort communities. The trend to downsize into a Virginia Beach town home or condos appeals to many buyers for a variety of reasons.
One of the most desirable aspects of downsizing is that buyers are able to purchase a well-designed living space complete with all the bells and whistles. In addition, moving from a large space to a smaller home generally means a more manageable mortgage and lower property taxes. Another perk is less square footage is less of a burden to heat and cool. Choosing a condo or townhouse with a patio or small yard cuts down on the exterior expense associated with larger homes without sacrificing access to the outdoors.
Another positive to buying a town home or condo includes the sense of community that smaller neighborhoods often provide. Many Virginia Beach condominium and town home associations have social hours, on-site libraries, and a host of amenities for owners to enjoy.
If you’re wondering if the time is right to selling your Virginia Beach home or condo, call us today!
Posted in Condo and Town Homes in Virginia Beach VA, Virginia Beach | Tags: buying a condo or town home in Virginia Beach VA, Buying a home in Virginia Beach VA, Buying a house in va beach, homes for sale in va beach, Real estate agent Realtor Virginia beach, Selling a condo or town home in Virginia Beach VA, Tyson Bradley Keller Williams Virginia Beach VA, virginia beach real estate | No Comments »
Factors that May Affect Your Interest Rate When Buying a Home in Virginia Beach VA
Interest rates are at an all-time low and are forecasted to remain steady for the next several months. Many people are entering the housing market to take advantage of the low mortgage rates; however, it is important to note that the interest rate for your mortgage is affected by several factors, including your credit history and the type of property you wish to purchase. If you are considering buying a home in Virginia Beach, Virginia this spring, be sure to keep these factors in mind, as they are the components that may influence your mortgage interest rate.
Credit Score. It’s true that your credit score is one of the most important factors in determining the rate of your mortgage.
Property type. There may be pricing adjustments for condominiums and multi-family properties as opposed to a single-family purchase.
Loan to Value. This is your down payment for a purchase. The lower your loan to value (LTV), the better your interest rate may be.
Escrow Reserve. Paying your property taxes and homeowners insurance on your own, rather than having them included in your house payment may cost you an additional fee. Most lenders charge a one time fee for the impound waiver.
If you have any additional questions, please, feel free to contact me.
