forsalebyowner – Page 4 – Beyond 404 Realty

March 12, 2022June 16, 2022

How to Create the Perfect Outdoor Space

With spring and summer fast approaching many are turning their attention to creating an outdoor entertainment space. Have you considered it? What are your options? What things should you consider before creating your dream space?

The Space

Take into consideration the space you are working with. If you live in an urban area your outdoor space is limited and what you plan on doing with it needs to be carefully thought out. Additionally, what do you plan on doing with the space? What is its purpose? Will you be hosting game nights, BBQs, or just lounging? The purpose of the space will dictate what can be done within your space limitations.

Surroundings

Does your property have stunning views of the mountains or the twinkling lights of the distant city skyline? Make the most of it! Set up a small seating area to take in the views while you and your guests enjoy the sights!

Comfortable Seating

What’s worse than sitting around a fire or enjoying a cocktail with friends while sitting on an uncomfortable seat? Nothing! Whether you decide to go with individual seating or cozy couches, consider the comfort of you and your guests. Test out the furniture before you bring it home or if you are buying it online make sure you read all the reviews!

Plants and Other Pretty Furnishings

Adding greenery, twinkle lights, and cozy throw pillows is an instant way to make any space feel more welcoming and inviting – even outdoor spaces! Choose easy to care for plants that will do well in the lighting of your space. Get bold-colored throw pillows to spice up the color scheme of the couches and chairs. Use bold patterns and lush florals to bring your style from the interior to your outdoor space.

Water or Fire Feature

For added relaxation try adding a fire pit or water features such as a waterfall in the garden or a small water fountain in the middle of your space. These features do not need to be elaborate to add another level of sophistication to your space. Sometimes the simpler the better.

What’s Next?

How do you know if you’ve found the perfect home? Check out this blog: https://beyond404realty.com/index.php/2022/04/12/how-to-know-youve-found-the-perfect-home/ Think of what you are going to use the space for, plan, and get building! Renting in Texas can be difficult, but so can start searching for a new home. With Beyond 404 Realty, Anthoney Hanks helps families and individuals find their dream homes in the Dallas-Fort Worth community. Anthony specializes in working with first-time homebuyers in Texas and those looking to purchase investment properties in Texas. Anthoney will teach you how to become a homeowner, stop renting, and start buying! Visit www.beyond404realty.com for more information or visit our YouTube page for short videos on starting the home buying process at https://www.youtube.com/channel/UCmzTlxpC6-nJWXsphoqhPZw We can’t wait to work with you.

February 21, 2022June 16, 2022

What is the Final Walkthrough?

You’re nearing the end of the home buying process, but there are still a few crucial steps left; one is the final walkthrough. What is the final walkthrough? The final walkthrough allows you, as the home buyer, to do one last check on the property by walking through the home to ensure everything is how it should be before you go to the closing table. What happens at the final walkthrough, and when does it happen?

When Does the Final Walkthrough Happen?

The final walkthrough happens just before the closing of your home. Typically, they take place the day before or the day of closing. They happen so close to closing that you have time to go through the home right before you buy it to make sure nothing is out of place. If they happened weeks before the closing, there could be time for damage to occur at the home. Conducting the walkthrough as close to closing is vital if you find something wrong with the house.

What Do You Look for at a Final Walkthrough?

You and your agent will look for any significant or new damage to the home, such as a water leak storm damage, and that all appliances are in working order. Additionally, if any repairs were due to be made before the closing, you can confirm that they were appropriately done during the final walkthrough.

Should You Bring a Checklist?

A final walkthrough checklist, especially a first-time homebuyer checklist, is essential to bring to the walkthrough. You can download a checklist here to print and bring to your walkthrough. Download checklist here.

How Long Should a Final Walkthrough Take?

The total time a walkthrough should take is entirely up to you and your real estate agent. Generally, prepare to take the time necessary for you to evaluate the home. Set aside anywhere from twenty to sixty minutes to perform the final walkthrough.

Homeownership in Texas

With Beyond 404 Realty, Anthoney Hanks helps families and individuals in the Dallas-Fort Worth community find their dream home. Anthony specializes in working with first-time homebuyers in Texas and those looking to purchase investment properties in Texas. Anthoney will teach you how to become a homeowner, stop renting, and start buying! Visit www.beyond404realty.com for more information or visit our YouTube page for short videos on starting the home buying process https://www.youtube.com/channel/UCmzTlxpC6-nJWXsphoqhPZw We can’t wait to work with you.

February 15, 2022June 16, 2022

Buying Your First Home with Student Loan Debt

Buying your first home is always a challenge, especially when you have tens of thousands of dollars in student loan debt. Some young millennials are forgoing purchasing a home due to their loans, thinking that they won’t qualify for a loan with their mounting debt, making homeownership impossible. While many have those thoughts and continue the cycle of renting apartment after apartment, others have found a way out; the trick is to understand your existing loan debt and how it will work into your mortgage budget. Student loans shouldn’t stop you from buying a home, as long as you have a consistent income from a stable job and a good credit score. If you can afford a high rent while paying your loans, there is a good chance that you can also afford to pay a mortgage!

How Do Your Student Loans Affect Your Ability to Get a Mortgage

There are various ways your existing student loans affect your ability to obtain a mortgage; of course, they are different in every situation, so it is essential to review your finances with a loan professional.

You Might Not Have Enough fora Traditional Down Payment

You have heard it from your parents – you need 20% down to buy a home. Yes, this is still true in some cases, but now with extended loan types and various programs offered through different banks, credit unions, and brokers, you might be able to apply for a mortgage with less than 20% down. According to the National Association of Realtors, in 2019, the median down payment was just 6% for first-time homebuyers – drastically less than the traditional 20%! The best course of action if you think you have enough saved or just want to know how much you should save is to speak with a local mortgage broker to see what programs you can qualify for, then set a goal for how much you need to save for a down payment.

Check Your Credit

Request a credit report from one of the three major credit bureaus in the United States: Equifax, TransUnion, and Experian. Review your report and confirm that all of the information is accurate; there can be mistakes! Paying your existing loans on time and even a few days early, so you don’t miss the due date. One missed payment can haunt you for years to come. Having a good credit score opens endless doors for you as a consumer; make sure you do what you can to boost yours. According to FICO, an exceptional credit score is between 800-850, a very good score is between 740-799, a good score is 670-739, a fair score is 580-669, and a poor score is anywhere between 300-579.

Try to Lower or Refinance Your Student Debt

There are various options available to lower your monthly student loan payments with both federal and private loans. Federal loans offer the following methods: the standard repayment plan, graduated, extended, pay-as-you-earn, income-based, income-contingent, etc. Check with the originator of your loan to see if your specific federal loan can qualify for a particular payment option. Private loans offer deferred payments while in school or while engaged in military service or allow you to make interest-only payments for a period. Another option to consider is consolidation or refinancing your loans. Consolidation simplifies your monthly process and often lowers your overall interest rate; this is something you can check with a local loan professional about to see if you qualify.

Live Simply While House Hunting

This is easily the most crucial step in going from renting to owning a home – live within or below your means. To save money for your down payment, you should limit your expenses. This means living in a less expensive apartment than you can afford, foregoing eating out often, and limiting unnecessary shopping expenses. Doing this will add up over time to a sizable chunk of change that you can use as a down payment or aid in closing costs.

Speak With Local Experts in Your Area

Every situation in every area is different. The best first step you can make is to speak with a market professional like Anthoney Hanks with Beyond 404 Realty in Forney, Texas. Anthoney can help you connect with a trusted lender, title companies and find your dream home. What are you waiting for? Take the first step to stop renting and start owning in 2022!

February 1, 2022June 16, 2022

First-time Home Buyers Guide to Closing Costs

You’ve done it – you are days away from signing the last documents on your first home purchase, and when you are reviewing the last of the financial documents, you see a line for closing costs. What are closing costs? How is the fee calculated? How much should you plan on saving for these costs before you buy your home?

What are Closing Costs?

Closing costs are made up of the fees associated with buying your home and paid at closing. The charges are made up of fees relating to the mortgage, including the appraisal, title work, paperwork, attorney fees, and the expense of underwriting your loan. These closing costs can be paid at the closing table by check and are separate from your down payment or earnest deposit.

How are the Closing Cost Fees Calculated?

Typically, home buyers will pay between about 2 to 5 percent of the purchase price of their home in closing fees, with the average buyer paying roughly $3,700 in closing fees, according to a recent survey https://www.bankrate.com. These costs vary widely from city to city and between states as the average costs of homes look very different depending on the region that you live in. Your lender will be able to give you a rough estimate on what your closing costs will be once your offer gets accepted and your loan begins processing, so there are no surprises at the closing table. As mentioned at the beginning of the article, days before the closing, your lender will provide you with a draft copy of the closing disclosure statement, which outlines fees and final payments due.

How Much Should You Plan on Saving?

This depends on what your home budget is. Take your projected home price and plan on saving at least the additional 5%, if not more; that way, you have extra money for other things that might pop up before closing, like buying a new couch or upgrading the security system.

Homeownership in Texas

With Beyond 404 Realty, Anthoney Hanks helps families and individuals in the Dallas-Fort Worth community find their dream home. Anthony specializes in working with first-time homebuyers in Texas and those looking to purchase investment properties in Texas. Anthoney will teach you how to become a homeowner, stop renting, and start buying! Visit www.beyond404realty.com for more information or visit our youtube page for short videos on starting the home buying process https://www.youtube.com/channel/UCmzTlxpC6-nJWXsphoqhPZw We can’t wait to work with you.

January 28, 2022June 16, 2022

A Spotlight on Rockwall, Texas

Along the shore of Lake Ray Hubbard, the bustling city of Rockwall is just a short commute to the Dallas-Fort Worth metro but has retained the small-town Texas charm that all have come to love and cherish. Full of historic buildings in the downtown area that includes quaint boutiques, restaurants, and shopping, there is never a shortage of things to do for entertainment. Rockwall Harbor is the premier tourist destination, drawing in thousands each year to sail, kayak, fish, and swim.

Rockwall was established in 1854 and gained its namesake from early settlers finding a mysterious rock while digging a local well. Today Rockwall is home to about 50,000 residents who live, work, and play within city limits or make the short commute to Dallas. Many local events are hosted in Rockwall each year from concerts to the Founders Day Festival.

When planning your next adventure why not include Rockwall? Or are you looking to move to a smaller community yet still within commuting distance to Dallas? Anthoney Hanks with Beyond 404 Realty specializes in working with those in the Rockwall community and would love to help you begin your next journey in homeownership in Rockwall. Visit our website at www.beyond404realty.com to schedule an appointment with Anthoney to discuss your next steps.

January 18, 2022June 16, 2022

Professional or Self-Management?

Owning a rental property can be a significant source of income. Whether you already own an investment property or are considering it, one of the most important questions is if you will self-manage the property or hire a management company to do it. There is no clear right or wrong answer because each property and situation is different. Throughout this article, we will discuss the differences between the two, and then you can make the best choice for your circumstances.

The Benefits of Self-Management

The best thing about doing your own property management is saving on management fees and knowing exactly when and how the work will be done. You can control the quality and pace of the work as well as the immediate satisfaction of your tenants. You will be able to develop a connection with your tenants and, in the process, create tenants who can be more respectful of your property and turn into long-term renters.

The Downside of Self-Management

Managing a property is not easy or convenient. It takes time, commitment, and lots of energy on your part to do all the associated tasks and happiness of the tenants. Self-managers need to wear multiple hats all at once while still juggling their personal lives. You will also need to learn about tenant law, real estate, and general repairs.

The Pros of Professional Management

Professional property managers know exactly what they’re doing – it’s their job! They make owning the rental property easier and reduce stress. They have a good understanding of the market and the ins and outs of running a property effectively.

What Do Professional Management Companies Do?

Finding Tenants

Emergency Calls
Repair Work Coordination
Property Inspections
Legal Compliance
Evictions

Rent Collection

The Cons of Professional Property Management

The biggest drawback is the cost. Factor in all that they do, and you will see that it is worth it, though! Conflicts can be an issue because there is always the chance that a property manager will not manage the rental property well or just not the way you envisioned.

The Bottom Line

No one will care about your property entirely as you do. When choosing to choose self-management or a professional company, keep in mind that the solution needs to work for you, your bank account, and your future goals as a landlord at the end of the day.

If you’re thinking of purchasing an investment property in the Dallas-Fort-Worth community, please visit our website at www.beyond404realty.com and request to speak with Anthoney Hanks -our local investment property expert! Anthoney will guide you through buying an investment property and offer helpful tips and tricks along the way.

May 24, 2021May 24, 2021

Should You Use an Agent?

When you’re starting to think about your next big move you might think, “I can do this myself, who needs an agent these days?” Maybe you don’t want to work with an agent because you think you can save money or because you don’t want the stress of someone trying to push a sale. Don’t go at it alone! Whether you’re buying or selling there are good reasons why you should get a full-time real estate agent.

You’re selling your home. At the end of the day, the truth is that there is a lot that goes into selling a home and you’re not an expert. Depending on your level of experience with buying and selling homes you might think that you know the basics and could manage. That’s a deceiving thought. There is so much that goes into the process that you might not have even been aware of when you previously purchased or sold a home because the agent you worked with had taken care of it. Agents are working at selling your house full time whereas you cannot possibly be in that situation if you are working or caring for children. Below are some reasons why you should consider working with an agent when selling your home.

Real Estate Agents Have Experience and Support

Unless you have a full staff behind you and practice selling multiple homes all day every day then there is no way you will have nearly as much experience as a veteran agent. Experience makes a huge difference in getting your home on the market and sold quickly. Agents will know how to navigate the tricky market and how to best advertise your home. Agents have trained and taken classes and undergone mentoring at their office – they are fully equipped to sell your home. The agent you work with is working towards the same goal as you – getting your home sold. Their experience is extremely valuable and worth all the commissions involved.

Real Estate Agents Understand Contracts and Negotiation

Selling your home is often emotional and when emotions run high, sometimes logic and common sense fly out the window. Emotions run high due to the fact that you might have raised a family in this home or perhaps even put hours and hours of work into making it perfect. Your agent is prepared for all of that! They are removed from the emotional sentiments and keep you focused on your goal of selling. They won’t let their emotions get in the way of negotiating a good deal for you. Agents often spend hours training a year in negotiation skills, they are ready for whatever gets thrown to them. Your agent is also well versed in the local real estate contract. The once thought ease of selling your home goes out the window once you look over the contract. Contracts can be complicated and there is no need to worry about messing something up if you have an agent to do all of the heavy lifting with paperwork.

Agents have access to a Large Network

Yes, you indeed have access to all of the same online sites that the agents will use to list your property. What you don’t have is their connections. Even if you have a large network of co-workers and friends, they will not be as motivated as your agent and their network of other agents.

All of the above information is helpful but what if you’re still considering selling on your own? Do some additional research and figure out what solution is best for you. Follow our blog for more tips and tricks on all things real estate.

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