Paul W Sullivan & Assoc



Posted by Paul W Sullivan & Assoc on 2/16/2020

If you're renting a nice house, condo, or apartment, there's a good chance your monthly rent check is almost as much as a mortgage payment. Perhaps you've realized this and have been asking yourself why you're contributing to someone else's nest egg, instead of your own! If that sounds familiar, you may be ready to take the plunge into home ownership.

The other half of the equation is whether you're financially ready, and that would depend on a variety of things, including your credit rating, your debt-to-income ratio, and your ability to make a sufficient down payment on a new home. Although a 20% down payment is a desirable target to aim for, there's often a lot of flexibility on how much you're required to put down on a house.

One of the main reasons a 20% down payment is desirable is that it takes you "off the hook" for having to pay monthly private mortgage insurance (PMI). The second advantage of making a substantial down payment is that it reduces the principal amount of your loan, which, in turn, lowers your monthly payments even more. However, if you're ready to become a home owner, but can't afford a 20% down payment, you can often eliminate PMI payments earlier than scheduled by making extra principal payments. The bank or mortgage company you decide to work with can fully explain their policies and what your options are.

If you are interested in making the transition from renter to home owner, now's a good time to start talking to loan officers. If nothing else, you'll be educating yourself on the intricacies of buying a home. Working with an experienced real estate agent is another way to learn the ropes, so to speak, when it comes to the home buying process.

Other than the financial benefits of building equity in your own home, there are also a lot of practical advantages. If you're currently a renter, for example -- especially in an apartment building, duplex, or townhouse -- you're probably tired of the lack of privacy and the unwelcome noises you can often hear through walls, floors, and ceilings.

Becoming a home owner brings with it a pride of ownership and the ability to plant trees, bushes, and gardens on your own property. Depending on what's available in your price range, you can also enjoy your own private deck, screened in porch, or patio. Options for the kids (if you have them) include swing sets, sand boxes, and room to play backyard sports or run through a water sprinkler during the hot weather.

If you feel like you are ready to take the plunge into home ownership, the first step is to make lists of your requirements, your preferences ("wish list"), and financial resources. The next step is to find a good real estate agent to start showing you homes that fulfill your needs and check off as many items on your wish list as possible!





Posted by Paul W Sullivan & Assoc on 2/9/2020

Entering the housing market for the first time can be daunting, particularly for those who want to quickly and seamlessly buy a top-notch residence at an affordable price.

Lucky for you, we're here to help you streamline the process of navigating the homebuying process.

Now, let's take a look at three vital tips to help a first-time homebuyer acquire a residence that matches or exceeds his or her expectations.

1. Analyze the Housing Market

The housing market constantly changes, and as a result, differentiating between a buyer's market and a seller's market can be tough. Fortunately, a homebuyer who analyzes the real estate sector closely should have no trouble discovering a variety of outstanding houses at budget-friendly prices.

To assess the housing market, you'll first want to look at the prices of residences that are currently available. This will enable you to better understand the prices of homes in cities and towns where you'd like to live.

Next, you should analyze the prices of recently sold houses in your region. With this housing market data in hand, you can find out whether you're preparing to buy a home in a buyer's market or a seller's one.

2. Get Pre-Approved for a Mortgage

A first-time homebuyer may want to get pre-approved for a mortgage. That way, you can prepare a homebuying budget and narrow your home search accordingly.

To obtain a mortgage, you'll want to meet with several banks and credit unions. This will allow you to learn about all of the mortgage options at your disposal and make an informed mortgage decision.

Furthermore, don't forget to share your mortgage concerns and questions with potential lenders. This will enable you to choose a mortgage that won't force you to overspend to acquire your ideal house.

3. Collaborate with a Real Estate Agent

Let's face it the homebuying journey can be long and arduous, particularly for a homebuyer who is exploring residences for the first time. But with a real estate agent at your side, you can remove the guesswork of going from homebuyer to homeowner.

A real estate agent is an expert of his or her craft, and as such, will do everything possible to help you achieve your homebuying goals.

Typically, a real estate agent will meet with you and learn about your homebuying expectations. This housing market professional also will set up home showings, keep you up to date about new residences that fall within your price range and negotiate with home sellers on your behalf.

Perhaps best of all, a real estate agent will help you alleviate stress throughout the homebuying cycle. A real estate agent understands the challenges of buying a house and will do whatever it takes to help you avoid or overcome potential homebuying hurdles.

Don't miss out on an opportunity to purchase your dream residence use the aforementioned tips for first-time homebuyers, and you can boost your chances of acquiring a terrific house without breaking your budget.




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Posted by Paul W Sullivan & Assoc on 2/2/2020

Photo by Victor Freitas from Pexels

Having your own home fitness center provides a convenient place to work out. You don’t have to worry about fitting in exercise during gym hours or having to wait your turn to use the treadmill or rowing machine. With your own gym, you can work out whenever you want and use your fitness equipment as needed. The following tips can help you design an upscale fitness center that allows you to exercise in the comfort of your own home.

Location

The first decision to make is where to put your fitness center, which depends in part on the layout of your home. You can put your home gym in your basement or a back area of your home if you prefer having it in an out-of-the-way place where your workouts won’t disturb family members. If your home is surrounded by nature, consider putting your home fitness center in an upper part of your home that provides inspiring views while you work out.

Flooring

The flooring in your home gym should provide shock absorbency and durability for safe workouts. Rubber tiles or rolls are highly shock-absorbent and durable, making them a common choice for home fitness centers. Foam tiles and soft PVC tiles are more comfortable to stand and move around on, but they do not offer as much shock absorbency to protect you from injuries if you do high-impact exercises.

Equipment

Choosing equipment for your home gym depends on the kinds of exercises you like to do. You can include larger pieces of equipment, such as rowing machines, treadmills, elliptical machines and exercise bikes. Other types of equipment to consider include a weight bench and weights, a yoga mat, a balance ball and resistance bands. Keep in mind that there are many brands of luxury home fitness equipment available.

Adding a state-of-the-art sound system to your fitness center can provide you with an easy way to listen to music that helps you stay motivated during your workouts. For lighting, consider using a mixture of natural lighting from windows or skylights and artificial lighting, such as recessed lights or light fixtures with ceiling fans to improve air circulation in your home gym.

Indoor Pool

Your home fitness center doesn’t only have to include traditional gym equipment. If you enjoy swimming as a form of exercise, consider adding an indoor pool to your gym. You can include an indoor pool that’s specially designed for doing laps and add features to it, such as a heating system for comfort or underwater LED lighting for swimming at night without having to put overhead lights on.




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Posted by Paul W Sullivan & Assoc on 1/26/2020

Unfortunately, selling a house sometimes can be a long, complicated process. And if you're not careful, you risk costly, time-consuming mistakes that may prevent you from achieving your home selling goals.

When it comes to selling a house, it helps to plan ahead as much as possible. Lucky for you, we're here to teach you about the home selling journey and ensure you can enjoy a fast, seamless home selling experience.

Now, let's take a look at three tips to simplify the home selling process.

1. Boost Your House's Curb Appeal

The first impression that your home makes on potential buyers can have far-flung effects on the home selling journey. If your house dazzles homebuyers, you may increase the likelihood of a quick, profitable home selling experience. On the other hand, if your home misses the mark with buyers, you may struggle to stir up interest in your house.

Perform home exterior upgrades to enhance your house's appearance. Mow the lawn, trim the hedges and clear debris from any walkways. Also, repair any cracked or damaged siding to further bolster your house's appearance and ensure homebuyers will fall in love with your house as soon as they see it.

2. Eliminate Clutter

Clutter may dominate your home's interior, and if you don't clear it out, you risk missing out on opportunities to sell your house.

Fortunately, there are many ways to eliminate clutter. For example, a yard sale is a quick, effective way to sell assorted items before you list your residence. Or, you can list items online or donate them to charity.

If there are various items you want to keep, you may want to rent a storage unit. With a storage unit at your disposal, you can keep a wide range of items safe and outside your home until your residence sells.

3. Collaborate with a Real Estate Agent

A real estate agent is a housing market expert who is committed to helping home sellers achieve the optimal results. He or she will work with you throughout the home selling journey and ensure you can enjoy a successful home selling experience.

Usually, a real estate agent will meet with you, learn about your home and craft a personalized home selling strategy. This housing market professional then will promote your residence to buyers and host open house events and home showings. Furthermore, if a homebuyer makes an offer to purchase your house, a real estate agent will help you review this proposal and determine whether to accept, reject or counter it.

A real estate agent also will respond to your home selling concerns or questions. Thus, if you are uncertain about how to navigate the home selling journey, a real estate agent is ready to offer guidance.

There is no need to stress as you get ready to list your residence. Take advantage of the aforementioned tips, and you can eliminate the guesswork commonly associated with selling a house.




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Posted by Paul W Sullivan & Assoc on 1/19/2020

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The homebuying journey may prove to be long and complex, particularly for an individual who fails to plan ahead. Fortunately, there are lots of things that you can do to get ready to pursue your dream house, such as:

1. Make a Homebuying Budget

A homebuying budget will give you a good idea about how much money you have at your disposal to find your ideal residence. Thus, if you craft a homebuying budget, you can hone your house search to residences that fall within your price range.

As you craft a homebuying budget, you should consider both your house mortgage and closing costs. That way, you can prepare for myriad costs that you may encounter as you try to acquire your dream house.

You also may want to meet with various banks and credit unions. These financial institutions can help you budget for a home purchase. Perhaps best of all, they can help you get pre-approved for a mortgage.

2. Narrow Your Home Search

You know you want to purchase a house, but it usually is beneficial to understand what you want to find in your dream residence. If you put together a list of home must-haves and wants, you can narrow your house search accordingly.

Consider your short- and long-term aspirations prior to launching a home search. For instance, if you need a home that is close to your office in the city, you may want to check out residences in or near the city itself. On the other hand, if you aspire to own a residence that includes a state-of-the-art heating and cooling system, you should explore homes that offer this feature.

3. Hire a Real Estate Agent

A real estate agent is a must-hire, especially for an individual who wants to seamlessly navigate the homebuying journey. Because if you have a real estate agent at your side, you can take the guesswork out of finding and purchasing your dream residence.

Typically, a real estate agent learns about a buyer's goals and crafts a personalized homebuying strategy based on his or her aspirations. If you want to purchase a budget-friendly house as quickly as possible, for instance, a real estate agent will help you accomplish your goal. Conversely, if you are operating on a tight homebuying budget, a real estate agent will do everything possible to help you find a first-rate house that won't put you in the red.

Let's not forget about the homebuying expertise that a real estate agent possesses, either. A real estate agent understands all aspects of the homebuying journey and will share his or her industry insights with you. Therefore, if you ever have concerns or questions during the homebuying journey, a real estate agent will respond to them at your request.

Those who understand what to expect during the homebuying journey can boost the likelihood of finding a terrific house at an affordable price. Thanks to the aforementioned tips, you could reap the benefits of a successful home search.




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