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Homebuyers and Bidding Wars

Friday, July 9, 2021
by Scott Darling

​When you see a home and know beyond a doubt that it is your meant-to-be and put in an offer, you find out that someone else feels the same way and has made an offer at the same time. Sometimes it is more than one buyer, and either way, a bidding war can begin. Let these tips guide you through the process: 

 

  • When you start your house hunt, be certain you are pre-approved for a mortgage. This will show any seller that you can buy their property. A pre-qualification is not enough. 
     

  • Before you even put in your offer, make sure there is some wiggle room in the amount. Offering the maximum that you are approved for can take you out of the contest during the first round. 
     

  • If you can offer cash for the purchase or a better-than-average earnest money deposit, sellers are more likely to add you to their “possibilities” list. Cash talks, no matter the amount of your purchase offer. 
     

  • Some potential buyers ask an agent to add an escalation clause to the contract.  The downside to this is leaving your negotiations on a purchase price laid bare for the seller to see. It may be best to make sure your Realtor® is ready with counteroffers in case your original is rejected. 
     

  • Being competitive means laying aside some contingencies.  For instance, a well-maintained home may have fewer issues in the inspection, so waiving the home inspection contingency could be enticing to the seller. This can be risky, however, if the house has not been updated in a long time, so make this decision wisely. 
     

  • If you absolutely love the home, talk to your agent about allowing your offer to be a back-up.  Keep an eye on the sale just in case it does not go through. Remember that most sales do go through, but there is always hope! 
     

  • Finally, it may simply be best to take the loss and walk away. In a sellers’ market, it may be best to let go of some of the items on your “want” list, as well as look at houses that are under budget.  

 

Your Realtor® should be knowledgeable on how to handle a property with multiple offers, and when they are, you can be sure that they are fighting as hard as you are for the house you love.  Your confidence in your agent will give you peace in the bidding war, whether you win or move on.

 

Courtesy of Chester County PA Realtor Scott Darling.  

 

Photo credit: DS News 

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Home Improvements: What Adds Value

Tuesday, May 11, 2021
by Scott Darling


Most homeowners have some DIY projects or simple upgrades on their to-do list, from installing new gutters to sprucing up the landscaping.  Something that does not always come to mind while getting those items done is adding to the home’s value. Not every home improvement increases the value of a property, whether they are a necessity or not.  

 

  • Landscaping Keeping your yard trim and weed-free does not decrease or increase your home’s value, but when it is time to sell a home, neat landscaping is a must. The one outdoor project that could increase the resale value of the home is constructing a deck. 
     

  • Flooring This is a personal choice, but if the homeowner knows that they will sell in the future, the cost of refinishing or adding hardwood flooring will come back to them in the sale.  Installing the floors could be a long-range DIY job but hiring a pro for a refinishing job is the wisest thing to do. Think of it as an investment, not an expense. 
     

  • Roofing Keeping the roof in sound condition is considered regular maintenance, so putting on new shingles because the homeowner would like a new color will not add value.  Installing a metal roof, on the other hand, could add value to the house, depending on the location. 
     

  • Home Systems Installing new plumbing or HVAC, or upgrading electrical are all considered maintenance, and no matter the cost, will not add to the value of the house. 
     

  • Remodeling Kitchen and bathroom remodels are your best choice for a project that will pay you back upon the sale of your home. 
     

  • Swimming Pool Putting in a pool is simply a personal choice.  Rarely does an added pool or spa put money in your pocket in case the house is sold. 
     

  • Additions Adding a sunroom, garage or home office will not necessarily give a good return on investment. An extra bedroom, however, is a good choice, but must be built to certain specifications to qualify as a bedroom in real estate terms. A reputable builder knows the requirements necessary for the extra space to be considered a bedroom, so choose wisely. 

 

Nolo.com has some excellent information on projects that are worth the cost in home value, as well as other home improvement tips.  When in doubt, do some research, and give your RealtorⓇ a call, as they know exactly what you need to do--or not to do--to get the most out of your house. 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: Boston Herald 

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Home Repairs and Maintenance for New Homeowners

Friday, May 7, 2021
by Scott Darling


Calling the landlord or apartment superintendent when something needed repair was the norm as a renting tenant, but now that you are a homeowner, there are simple skill sets that do not require a call to your local handyperson! All you need are a few tools and the willingness to learn something new!   

 

Basic tools needed: claw hammer, screwdriver set, adjustable wrench, plunger, drain snake, tape measure, stud finder, plier set, putty knife, and a handsaw.  These tools will help you in making simple repairs. 

 

Plumbing Finding your water main shut-off is one of the first things a homeowner should get familiar with. Other water-related things that can be done easily: replacing an O-ring in a leaking faucet, unclogging drains, installing a new showerhead, and repairing a running toilet. The Family Handyman covers other simple jobs that do not need an expensive call to a plumber. 

 

Electricity  While an electrician is best for complete rewiring, many homeowners switch out old light fixtures or change them to ceiling fans on their own! Probably the most important thing to know about your new home’s electricity, however, is getting familiar with the circuit breaker box, and knowing how to turn them off or reset them. 

 

Wall Repair  Most homes have drywall, and accidents happen, so DIY repairs are a must. Plaster walls can be a bit trickier, but for minor problems, https://www.thisoldhouse.com/walls/21016734/how-to-fix-damaged-plaster 

 

Painting DIY television shows make painting a room look simple, and while that may be, there are more steps to achieving a well-done paint job than using a good quality paint roller. 

 

Home Safety It is imperative to know how to safely use a fire extinguisher as well as how to test smoke and carbon monoxide detectors. 

 

Cleaning the HVAC Unit This simple job can make a big difference in how well your unit runs and it saves money because you are doing it yourself.   

 

Yard Care After years of apartment living, many new homeowners simply do not know how to keep their grass trim or maintain a lawnmower! Bob Vila offers some great mowing tips for a great-looking lawn. 

 

So many small fixes can be handled by you and your family as you learn to take care of your new home! Sure, you are protecting your investment, but knowing you can tackle some of the “small” stuff gives great satisfaction, knowing you are taking care of your family and your home. 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: HouseLogic 

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Items Every Chester County PA Homeowner Should Have

Tuesday, April 27, 2021
by Scott Darling


Becoming a homeowner usually means becoming a do-it-yourselfer, even if there are no plans to take on a major renovation. There is almost always a small job to do or an emergency that can be taken care of by having the right things standing by. What basic tools and other items does a homeowner need? 

 

  • Fire extinguisher Visit the USFA to see what type of extinguisher is needed for the kitchen, workshop, or multipurpose fires. 
     

  • Portable safe Secure important papers, valuables, and other important items in a portable safe. This could be quite an investment when upgrading to fireproof materials or digital passcodes, but valuables and irreplaceable items need to be protected. 
     

  • Cleaning items This seems obvious, but a good broom and dustpan, bucket, microfiber cleaning cloths, “shop rags,” and a flat mop are all that is needed to keep a home sparkling. 
     

  • Simple tools: A hammer, heavy-duty scissors, screwdrivers, hex key tool, measuring tape, handsaw, and more; all of these things will make a homeowner’s life much easier when they need them. 
     

  • Emergency kit FEMA offers a build-your-own kit list with everything necessary for an emergency. 
     

  • Heavy-duty extension cord Do not use an indoor-rated cord outdoors. A cord that can handle a large capacity of electricity and bad weather conditions is best. 
     

  • Wet-dry vacuum Having one of these handy can save clean up time from a dishwasher leak, or spilled nails on the floor.  
     

  • Ladder A sturdy stepladder or six-foot A-frame is best for smaller jobs. Find out what ladder is best for the job. 
     

  • Lawn and garden tools Besides a garden hose, mower, and string trimmer, every homeowner with a yard needs a leaf rake, shovel, pruning shears, and a wheelbarrow. 

 

Not only do homeowners need physical items for upkeep, learning how to do different jobs in the home saves money and builds confidence to handle regular maintenance, which could lead to bigger things! With the right tools on hand and a little know-how, being able to care for a new home is a great satisfaction without a price tag! 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: SafeAuto

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Tips for a Better Credit Score

Wednesday, April 14, 2021
by Scott Darling


When you realize that you are ready to afford a home of your own, the first and most important item to consider is your financial situation.  For a lender to see you as a good prospect, the first thing they look at is your credit score.  While there are very few perfect scores, you can (and should!) take the time to improve it before you start looking at prospective homes. 

 

  • - Begin by requesting a free credit report from all three reporting agencies.   Look for errors and report them to the credit bureau and company that posted them.  Legitimate collections that have been paid will not be removed from your credit history for seven years, although they will be marked as paid.
     

  • - Late payments hurt your credit score.  Stay current by creating a written budget with due dates for your bills or set up automatic drafts through your bank. 
     

  • - Pay off your credit cards!  This is particularly important, because the more outstanding debt you have, the lower your score.  Begin by paying off the smallest balance. Larger balances can be paid off sooner by increasing your payments or send equal payments twice per month if the creditor allows. 
     

  • - According to FICO™, it is better to pay off a credit card than canceling the account.  Use it as minimally as possible--simply charging a once-a-month take-out meal will keep it active. 
     

  • - Having just one credit account in good standing is better than none for those who have not started establishing credit history. Shop around for a credit card with a good interest rate and apply. 
     

  • - Avoid new credit accounts while you are trying to bring your score up. Pay cash for everything, and if you do not have the cash, unless it is an emergency, do not buy it. 
     

  • - When you cannot see a light at the end of the financial tunnel, contact a reputable credit repair agency that can assist you in getting your bills paid, manage your finances, and increase your chance of becoming a homeowner. 

 

Plan on spending up to a year to bring your credit score up to a number that will impress lenders, not to mention getting a better interest rate.  Much like taking up exercise and a new diet to get into shape, take it slow, increase your efforts every month, and you will soon be showing off the results--in your new home! 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: student loan hero

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Tips for New Construction Buyers

Friday, April 9, 2021
by Scott Darling


If you are searching for a turnkey home with the latest smart technology, energy efficiency, and modern floor plan and materials, you will want to investigate new construction.  Of course, buying a brand-new house has some differences than the purchase of an older home.  New construction has all the things on your wish list, but there are a few things new house hunters need to be aware of. 
 

  • - You will need a buyer agent to represent you. The builder’s agent will be looking out for their client--not you. 
     

  • - Go through the pre-approval process but shop around for the loan that fits your needs.  If the builder’s lender has incentives and discounts, take advantage of them if it will benefit you in the end. 

 

Ask the builder: 

  • - How many lots and homes have been sold, how large each lot is, and how much space is between houses? 

  • - What is the length of the home’s warranty, and what does it cover? 

  • - How much input does the buyer have in choosing paint colors and materials for flooring, kitchen, and bathrooms? What is the policy if the builder runs short on chosen materials? 

  • - Is smart technology wiring included in the basic home package, and is wiring to all bedrooms an extra expense? 

  • - What appliances are included in the basic price? 

 

  • - Keep in mind that the model home you are shown has all the bells and whistles! Never assume you are getting everything in your home that the model shows. Ask about these features and write everything down as you get answers. 
     

  • - Talk to residents who are already living in the community, and ask them about any concerns they have, and what they love about their new home. 
     

  • - Do not skip the home inspection just because it is new construction. Be sure your purchase contract allows you to hire an inspector outside the building company. 
     

  • - If the model home is one of the last homes left in the neighborhood, ask about buying it! You may not get every finish just as you would like, but you can paint a room or change the flooring! 

 

Be aware that the builder makes their main profit on upgrades and will do their best to convince you that you need that “free” entertainment package or other “gifts” they may offer. If you are a DIY-buyer, leave the custom closets and finished storage areas for later. Saving money on the purchase price of your new home is your most important goal, but you must do some “home” work first! 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: moving.com

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Stop Renting & Become a Homeowner

Thursday, March 25, 2021
by Scott Darling


Rising rent prices and low interest rates make purchasing your first home sound like a great boost to your monthly budget!  There is much to consider: from down payments to paint, many factors of homeownership are different than when you are a tenant in someone else’s home, so you need to prepare now for a new home later.   

 

  • Begin practicing a budget now if you do not already.  There are more expenses involved with homeownership than there are as a tenant and you need to be able to manage your money properly. 
     

  • Check your credit score and correct any mistakes, if any, and do what is necessary to improve the numbers if your score is not going to be attractive to lenders. 
     

  • Learn about the different types of loans available to first-time home buyers. This will help you figure out how you will finance your mortgage as well as how much you need to save for a down payment. 
     

  • Once you go through the pre-approval process, you will know how much house you can afford, making house-hunting easier.  
     

  • Do you love your rental? If so, let your landlord know that you are interested in purchasing the property! They may not be interested, but once they become aware that you will be moving, the thought of preparing and looking for a new renter may encourage them to agree to a sale. All you can do is ask!  
     

  • Browse properties besides houses--many townhomes and condominiums are affordable and convenient and would make the perfect first home! 
     

  • Purchasing a newer house can save money in the long run, because of less up-front maintenance costs and newer houses are more energy efficient. 
     

  • Think about your community options--do you want to live in a managed community (HOA), a rural area, new construction in a planned community, or an older suburban neighborhood?  Each can affect how much you pay in fees, taxes, or maintenance costs. 
     

  • If you have renter’s insurance, and you should, you will note that a homeowner’s policy costs more, because it covers much more than just your belongings.  Most mortgages will include homeowner’s insurance in the monthly payment. If your current agent can find a cheaper rate, go for it! 

 

Think about the freedom to paint your living room firehouse red if you like or being able to have a noisy family dance party because there are no neighbor’s downstairs to disturb!  As soon as you are ready, your next step is contacting a Realtor® to be your guide during the whole home-buying process.   

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: ilookhome.com

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New Homeowners: Wait Before You Renovate!

Wednesday, March 10, 2021
by Scott Darling


Your new home charmed you as soon as you walked into the entryway, despite rooms with dark paneling, a pink tile bathroom, or a small galley kitchen. You knew you wanted to make some changes when you bought it, but is it worth the added stress, not to mention the stress on your new budget?  

 

  • - The home-buying process and moving are no small feats and undertaking a renovation can take another toll.  Give yourself a break before starting something new. 
     

  • - Getting used to living where you are could cause you to rethink your plans. For instance, you wanted a bay window to replace the two smaller windows in the dining area, but after feeling the hot afternoon sun shining in, you change your mind.  Little things like this are not noticeable from a few walkthroughs and virtual tours. 
     

  • - Many fixups are inexpensive and can tide you over until you make your final decision on whether to renovate or not: painting, fixing up the floors, or purchasing new furniture are all ways you can satisfy that itch and make the new house feel like your own. 
     

  • - Living in your home as it is for a while could show you that a major renovation is not needed at all! One room could simply need better lighting, or a closet you wanted to enlarge simply needs a few organizational pieces. 
     

  • - Continue the savings habits you adopted while saving for your down payment and other costs associated with your home purchase, and you can pay for your redo in cash, one step at a time! 
     

  • - Go ahead with your planned decorating! It is possible that you will find those renovations unnecessary once you have new furniture, draperies, and wall color. 
     

  • - Some renos cannot wait and are best completed before moving in structural work, full kitchen or bathroom re-do, large room addition, or changes to the layout.   

 

Patience is a virtue, and in today’s instant world, it is hard to wait for something you have looked forward to for months. Holding back on the revamping of your new home will not only teach patience, but it could save money and headaches for you! Architectural Digest covers other aspects of home renovation to consider.  

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: renosgroup

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Do I Need a Home Warranty?

Wednesday, February 24, 2021
by Scott Darling


Choosing to purchase a home warranty is something any homeowner, house hunter, and even seller should think about. While different companies offer home warranties, the purpose of a home warranty is generally the same. Let this guide help you decide if you need this service: 
 

  • A home warranty covers what homeowner’s insurance does not. When one of your home’s systems or major appliances breaks down or is damaged from normal wear and tear, a home warranty will help you with the costs. 
     

  • Homeowners pay a monthly fee, on average $300-$600 per year, according to Consumer Affairs. Most service calls through the company will require the homeowner to pay a set service fee to the technician when making a claim. 
     

  • A home warranty can be purchased at any time, which is great for someone who is selling their home.  Sellers can spend a good amount of money prepping the house for sale, and a warranty will help considerably if something breaks down during the selling process. Warranties can be transferred to the buyer, as well! 
     

  • A newer home may not necessarily need a home warranty, so stash an amount equal to a monthly warranty payment into your savings account!  You can build emergency savings and have the funds for unexpected repairs. 
     

  • Research home warranties for prices and coverage available. Your Realtor® will be able to direct you to companies they are familiar with, and you can trust you are working with a reputable home warranty company. 
     

  • Current homeowners who do not have a home warranty can find a company that is registered with the Service Contract Industry Council. Scroll to the “Home Service Contract Companies” for a complete contact list. 

 

There are so many different decisions to make when it comes to homeownership, it can feel overwhelming. Making good decisions depends on how much time you put into researching and asking questions.  Inform yourself by doing your research and having a discussion with your Realtor® and/or warranty agent to help make the best home warranty decision for your home and wallet. 

 

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: homewarrantyreviews

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How to Know You Have Found the Right Home

Friday, February 12, 2021
by Scott Darling


Buying a house is a huge commitment and saying it must be “right” is an understatement! Whether you are looking for a new beginning, have a growing family, or are simply buying your first home on your own, buying a house that is not the best choice can have you looking for another or even losing money.  How do you know you have found the one? Here are a few tips to help you with your house-hunting: 

 

  • The listing photos and layout have you wanting to see it in person as soon as possible! When the photos appeal to you in some way and the layout is to your liking, it is hard not to send your agent a “Put this house at the top of my must-see list” text!  
     

  • At the showing, you feel at home when you get out of your car and walk in the door. You know when you feel welcome in a house when you go inside, much like when you visit someone’s home for the first time.  
     

  • As you go from room to room, you can see your belongings in each, and know exactly how you would arrange them.  The outside matters as well, and envisioning your kids playing in the back garden, or wanting to refurbish the flowerbeds are sure signs of the house being the right one.
     

  • Your house-hunting day has ended, and that one property seems to be calling your name, but minor things (like having to remove wallpaper or carpet) have you questioning if that is the house for you. When you are truly smitten, being concerned about a few flaws and having to put in some work once you move in could cost you the perfect home. 
     

  • When the showing is over, and you pause on the outside of the door and have no desire to look at any other houses, it is time to talk to your agent about making an offer. 
     

  • Does the house fit your needs? All the warm fuzzies do not count unless the house has the right amount of space, is in a great community, and, most importantly, within your budget. 

 

House hunting can be tiring, especially if you have looked at several in one day. If all the factors are in line, you may not want to wait to act on making an offer!  Waiting to see if you can find a more perfect house may cause you to lose out on the house that embraced you as you walked in and had you telling friends and family about. Your Realtor® knows about your needs, wants, and budget, and will be ready as soon as you say “I love this house. Let's make an offer!” 

 

Courtesy of Chester County PA Realtor Scott Darling.

 

Photo credit: shutterstock

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