Frequently Asked Questions - Lipply Real Estate Florida
How do I know what I can afford in a house?
Your income and whatever debt you may have will be a determining factor of the amount
that you can afford to spend on a house. Usually prospective home buyers will look at homes
that do not exceed 2 ½ times their annual income. If an individual earns $50,000/year then
their home purchase typically does not exceed $150,000. This can change based on the area
and market in which you are seeking home ownership. If there are no homes available in your
area within your range, you may need to spend more than expected without allowing your
monthly mortgage payment to surpass 29% of your monthly gross income. Any other debt
you may have (auto, credit cards, etc.) in addition to your monthly mortgage payment should
not surpass 40% of your monthly gross income depending on the kind of mortgage loan you
are applying for. Online mortgage calculators are very helpful in helping you determine what you can afford.
In what area should I purchase a house?
There are many factors to consider when looking for an area to purchase a home. Most people
choose areas based on their lifestyle and/or life stage. Families may search for an area with good
schools and communities that are abundant with children, while others may search for an area in
which they want to retire. Some may be looking for an area close to the workplace allowing for a
short commute. Whatever your choice, a home is one of the largest investments you will ever
make, therefore you want to be sure to choose wisely and explore all of your options. Our website
has an abundance of information on Tampa Bay Florida real estate, Clearwater real estate and real
estate in the towns surrounding these larger cities. Tampa Florida real estate and Clearwater real
estate have some of the most beautiful homes in the nation with many varieties of property to
choose from. Feel free to research my website. If you have any questions please email me or call.
I will be happy to help you in the decision making process.
Why should I use a real estate agent to purchase a home?
Using an agent can help you in many ways. First, the seller or builder pays for the services
provided by the agent in the purchase of your new home, making these services free to the
home buyer. Second, an agent knows everything involved with the purchase of a resale or
the building process of a new home. Agents provide representation to the home buyer and
assist them in understanding the home buying process, paperwork and can often help in making
your purchase a smoother transaction. Third, with an agent, finding the right home in the right
location is made simple. I can do the research for you and show you homes in your area of interest
that meet the criteria you specify. Please email me or call so we can discuss how I can help you with
your home search. I am very knowledgeable on the Tampa Bay area and am the most qualified
agent to assist you with your search and the buying process.
Is a private home inspection worth the money?
It absolutely is! For most people, a home is the largest investment they will ever make and
protecting that investment by spending a few hundred dollars is well worth it. The typical
home inspection ranges anywhere between two hundred and five hundred dollars depending
on the size of the home. When you move into a new home you want to begin enjoying it,
not begin repairing it. The private home inspector will provide you with a report of any
repairs that need to be taken care of, suggestions on how to maintain your home, and
most importantly, will provide you with peace of mind. Some sellers will allow you to
make the sale of the home contingent upon completion of a satisfactory home inspection.
In this case, the seller will either make the proper repairs or compensate you for the repairs
that need to be made. If the outcome is not up to your liking, you can choose to cancel
the contract. Please be aware that the purpose of a home inspection is to point out repairs
that can affect the safety and resale value of your home, not cosmetic blemishes. Some
cosmetic fixes, for example, applying a coat of new paint, may be up to the new owner.
You will need to determine what cosmetic improvements may need to be done after closing
in order to make the appearance of the home to your personal liking and taste.
A private home inspection is not only limited to the purchase of a resale, but is also very
important during the building of a new home. You cannot just assume that a new home
will be built perfectly without any errors. In this situation the inspection should be conducted
during different stages of the building process with the last one being before the final walkthrough.
This will allow the inspector to notice any defects or errors made in the building of your new
home that would normally be difficult to see once the home is completed. Providing this
report to your builder will aid them in making the appropriate repairs and may also help to
keep your closing date on target and reduce the likelihood of finding any surprises during
the end that may cause delay.
Be sure to choose a home inspector wisely. Choosing a cheaper home inspector over a
more experienced home inspector may not always be the better choice. Be sure to ask
questions and find out how many years they have been in the business. Talk to your family
and friends to see if they can recommend one to you. Your real estate agent can also help
you in choosing a home inspector.
Is a home warranty worth it and what does it cover?
Different people will always give different responses regarding the issue of home warranties.
Those that say it is a waste of money may never have had anything go wrong, therefore
finding no use for it. However, find an individual who has saved hundreds or even thousands
of dollars thanks to their home warranty, they will give you a different opinion.
Basically a home warranty covers the repair or replacement of certain devices in your home.
They will typically be covered for a period of one year from the closing date. Certain major
and minor mechanisms that are usually covered are:
+ Central Air and Heating System
+ Water Heater
+ Refrigerator
+ Washer and Dryer
+ Oven/Range
+ Dishwasher
+ Microwave
+ Garbage Disposal
+ Garage Door Opener
+ Water Softener
+ Other minor electrical devices
The decision on whether or not to purchase a home warranty lies in the age of the home
you are purchasing. The typical home warranty ranges in price from three hundred up to six
hundred dollars, depending on the amount of coverage, age of the home and size of the home
being purchased. If the house is less than five years old, you may not find it necessary to
purchase a home warranty, since most of the appliances and other devices usually remain in
good working order within this time period; however if the house is anywhere from five to fifteen
years old or older, a home warranty may be something you want to consider. If anything, no matter
what age the house is, a home warranty will provide you with peace of mind. Sometimes choosing
to pay a warranty deductible for repairs outweighs having to pay a larger lump sum in repairs or
replacements, some of which could cost you thousands of dollars.
What are some tips to make my house show nicely and work properly when preparing to sell?
A buyer prefers a home that is in move-in condition and will pay top dollar for a home in such
condition. It is important to be sure your home is in superior condition before listing it to sell.
A good idea is to have a property inspection done on your home. This also looks good to potential
buyers and helps them to feel more at ease about making a decision to purchase your home. An
inspector will be able to recommend areas that need attention. Making these repairs prior to selling
will help to reduce the risk of buyers trying to renegotiate the price due to repairs or problems that
may arise from a private inspection conducted prior to closing.
Having your property in top condition will attract more agents to your home with potential buyers,
providing you with an excellent chance to sell your home faster, and at top dollar.
Here are some suggestions to make your house show well and be ready to sell…
Showability
Paint is very important in making a home show well. Certain colors, although they may go with your
personal décor, may not be desirable to prospective buyers. Neutral colors usually show better on
walls rather than loud or bright colors. Scuffed walls, faded or pealing paint, both inside and out,
should be repaired. Check doors and garage doors closely for cracked or peeling paint as well.
The front entryway is the first place where a prospective buyer will step foot. This area should be
well maintained from the walkway to the doorbell. Be sure the pathway is clean. Nice landscaping
is always a plus. Keep the area free of weeds or dead plants and flowers. Be sure the doorbell is clean,
not worn, and in working order. The mailbox should also be clean and not worn or rusted.
Proper landscaping always adds to the value of a home. Keeping the grass fertilized and mowed will
ensure a bright green, weed-free, well manicured lawn, also providing for a great first impression.
Trees and shrubs should be trimmed and any dead plants or flowers removed or replaced. Weeds
should also be pulled and kept under control.
Clean up any stains that may be unsightly on the driveway the best that you can. Also, be sure the
garage door is in working order. It should open without hesitation and greased to cut down on noise
if possible. This also goes for all doors both inside and outside the house.
The air conditioner should be free of rust and be draining properly. It should blow cold air and free
from any unpleasant odors. Also, be sure to clean the vents so that no dust is obvious.
The patio floor should be clean and painted if necessary. Well-manicured potted plants always make
for a pleasant atmosphere along with some nice outdoor furniture if possible. The lanai or patio area is
usually a place where homeowners like to relax. Try to help any potential buyer envision that relaxation
place. If you have a swimming pool, be sure the chemicals are adjusted properly to ensure clear, sparkling
water. Any pool toys or chemicals should be stored neatly or out of view if possible.
Windows should be free of ripped or bent screens. These should be replaced or removed entirely.
Windows should also be clean and cobweb free. Being able to have draperies open, allowing light into
the house is a plus at any showing.
Floors should be repaired if damaged. Broken or cracked tile should be replaced and floors clean.
Having the carpet steam cleaned will improve its luster and will help eliminate any odors from smoke or
pets. Be sure flooring on any staircases are secured properly to avoid injuries.
Mechanics
Make sure lights and fixtures around the house, inside and out, have working bulbs with proper wattage.
Lights on in a home during a showing add to the appearance. Dining fixtures, foyer fixtures, floor and
table lamps will provide brightness to your home
Also, be sure switches and faceplates are working and free from cracks.
If the appliances are being included with the home, be sure they are working properly. Any appliances
that are not in working order, or need repair need to be disclosed to the prospective buyer if you do
not intend on fixing them.
Any plumbing issues should be attended to. Leaks, dripping faucets, noisy, stained or running lavatories
as well as chipped or stained sinks should be repaired or replaced. Sprinkler systems should also be in working
order with no damaged sprinkler heads.
Openness
Providing a feeling of openness in a home can be accomplished quite easily and allows the house to
appear larger. Open areas free of clutter are very important in showing a home.
Simple tasks such as storing extra furniture and other things that may make your house feel closed
in or cluttered can really change the appearance of you home. One important thing that buyers always
look for is closet space. Cleaning out closets and storing unused items can help eliminate closet clutter.
This also goes for any storage space and garage space your home may have. Garage space is very
important to buyers. Sometimes renting a small storage unit to help cut down on garage clutter may
pay off in the long run. Cabinets and countertops should also be kept neat and any unused appliances
should be stored in cabinets rather than on countertops.
Moving furniture around so that rooms don’t seem so closed off is also a way to make a house appear
more open. Simply repositioning a sofa or loveseat can open up a room.
Keep it Clean
Although you may be selling your house, you are also still living in it. It is very important to try to
keep your home as clean as possible in between showings. Bathrooms especially can get dirty extremely
fast. Soiled surfaces, mildew in the showers, soap scum residue, dirty shower tracks and old or stained
bath mats will cause a showing to flop immediately. If the bathrooms in a house aren’t kept up the
entire home becomes undesirable. The kitchen is also an important area to keep after, as it can
also get dirty fast. Be sure to keep the stove clean and the oven free from drips and stains. Range tops
should have clean drip pans and the exhaust hood should be replaced as needed.
Selling a home can be a lot of work, but with all your efforts, they can pay off
quickly and with a larger sum of money.
Visit our Buyer Tips and Seller Tips pages for more FAQ's.
Many thanks to Jerry Self who sells
Wichita Real Estate for
his input on this article
See also Real Estate Glossary
