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Five Things to Consider in a New Neighborhood

Thursday, June 23, 2022

by Scott Darling

In most home buying situations, you are not only purchasing a house, but you are also buying the neighborhood. There are many factors you cannot control, but to avoid regrets, consider these five things while house-hunting:

Affordability: The mortgage payment is an important part of your budget, but keep in mind that property tax is normally added to your monthly loan payment. Property tax is based on the assessment value of the property. The assessment value depends on different factors, and the home’s location is number one. Ask your Realtor® for past tax information, but the house may be reassessed after closing.
How you live: Satisfaction with your home’s location will depend on the general area. Are you a pet lover with four dogs? You need a pet-friendly community. Is your family a large one with lots of noisy backyard activities? Look for active families in the neighborhood. Do you need close access to theaters, restaurants, or shopping? Your new home does not need to be a long commute to things you love.
Schools: Communities in a high-rated school district normally have homes with higher price tags. As a parent, buying a home in a good school district is an investment in your child’s future, and if you do not have children, it is a wise financial investment as your home should at least keep its value as time goes by.

Safety: Everyone wants to feel safe in their home. Several websites offer crime stats, but it may be best to contact local law enforcement for current information about the area.
Utilities: Is high-speed internet or natural gas available in the neighborhood? Does your water come from the municipal water supply or a well? Your agent should have all of this information for you but asking the homeowner if they are willing to share how much they pay in monthly utilities will help you plan your monthly budget.

Performing some “home” work is probably the best way to learn more about a community. Drive through at different times during the day or take a walk and pay attention to the sights, sounds, and–yes–smells of the neighborhood. You will be spending a lot of time there and being content in your new home is the most important location factor of all!

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: RE Express

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Chester County PA Real Estate Market Trends for May 2022

Wednesday, June 15, 2022

by Scott Darling

Chester County PA Real Estate Market Trends for May 2022

Chester County PA single-family homes saw pending sales decrease by -24.4% in May 2022 when compared to May 2021. 568 homes sold in May with a median sales price of $465,000. The average days on the market fell by 7 days. If you are thinking about selling your home get a free instant home evaluation Learn More.

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Short-Term Fixes for Urgent Home Repairs

Tuesday, June 7, 2022

by Scott Darling

Things happen, and it seems that they usually happen on weekends or after normal working hours. What do you do until a professional makes a service call? Find the temporary solution to many emergency needs here:

Leaky roof: Search for the leaking area in the attic while it is raining and call a roofing company or handyman as soon as possible. Cover the area with a heavy-duty tarp, using nails to keep it in place.
Broken window: Wearing work gloves and safety glasses, remove any broken glass pieces. Use heavy-duty plastic and weather-proof tape to cover the hole or cover the window completely, sealing it well to keep out rain or cold.
Leaking water pipe: Turn the water off at your water main. Stop small leaks with epoxy putty. Do not allow pipes to continue to leak or think the putty will hold forever. Have a plumber address the issues.

Water heater leak: The first thing that should be done is to turn off the water heater breaker or gas flow, then turn off the cold-water flow to the heater. Call your plumber immediately, then start cleaning up with towels or a wet/dry vacuum. If water has flooded the room, take photos before cleaning up, and call your insurance company.
Clogged drain: Using a plunger for clogs is better and safer than using store-bought drain cleaners. This video from Ask This Old House shows homeowners the proper way to clear drains. If none of those solutions work, calling a plumber is in order, as a backed-up drain will eventually burst and create a much larger mess.
Gas leak: Whenever you smell sulfur or the “rotten egg” odor, it is usually a gas leak. Get out of your home, turn the gas off outside by turning the valve control to a perpendicular position, and call your utility company immediately. Do not go back into the home until the leak has been checked and repaired.

Keep in mind that these are temporary repairs! Neglecting to make repairs can cause extensive and costly damage to your home. The plumber's bill for a leaking water pipe is much less expensive than replacing rotting floors. Taking care of emergencies as quickly as possible protects your investment and saves money in the end.

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: fenwickhomeservices.com

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Using Your Credit Card Wisely

Friday, June 3, 2022

by Scott Darling

There are a multitude of enticements when it comes to choosing and using a credit card. Companies advertise rewards points, cashback on purchases, and airline miles, to name a few. Having a credit card can also have drawbacks if you are not responsible with that piece of plastic. Keep yourself in check with these tips:

Add extra to your minimum payment each month if you cannot pay the entire balance off each time. Compounding interest will increase the remaining balance as well having a negative impact on your credit.
Make payments by the due date, because late fees plus interest on the balance will max the credit card limit, and it could take decades to pay it off. Set up an auto-pay plan or mail your payment one week before the due date.
Rewards seem like a great reward, but in the end, interest costs add up to more than any rewards points earned.

Interest on a cash advance begins as soon as the money is in your hand. Cash advances are loans and treated as such. Beware of “convenience” checks your card company offers, as they are cash advances in disguise.
Protect your credit rating and your wallet by staying within your credit card spending limit. Maxing out the card or over-spending just a little will cost a hefty over-balance fee, as well as affect the credit utilization ratio.
Keep your contact information current with the company, and check all correspondence from them, whether it be via snail mail or electronic communication. You do not want to miss important announcements, fraudulent activity alerts, or changes in your minimum payment due.
If you are paying for everyday purchases with a credit card, it is time to get your finances under control. Using your credit card at the grocery store or to pay utility bills will help in an urgent situation, but only if you can pay the full balance at the end of the month.

Two more things to keep in mind when using a credit card: the balance should be less than 30% of the credit limit, and monthly payments should be manageable for you. Credit cards should not be utilized as an extension of your income, but as tools to help build credit or keep your score in good standing.

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: AAA

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Using Your Credit Card Wisely