6 Tips for Choosing a Home Developer

Published on December 23, 2019 by Smith Marketing

Are you interested in having a custom home built? New home communities in Greensboro typically have one or a few home developers who build most of the houses in the neighborhood and continue to develop it as it grows. You can choose one from among those builders, or go with someone else entirely. Not sure how to choose? Consider these tips.

Find a builder whose homes match your style

Look at the photographs of the homes the builder has built before on their website or drive through the neighborhood they have developed. Most builders have a certain style, a common thread that runs between their homes even though each one may be different. Do the homes look the way you want your home to look?

Make sure the builder can build within the regulations of the HOA

There may be certain limitations on the size and style of home you can build in the neighborhood based on homeowner’s association rules. If you go with an outside builder, someone who hasn’t built a home in the development yet, make sure they can build a home that will meet the requirements.

Check the builder’s background

An established home developer will have built a solid reputation in the community. Find out how long they have been in business and how many homes they have built. Read reviews online, check their licensing, and review their status with the Better Business Bureau.

Look for financial stability

Make sure the builder has no history of financial issues and that they are currently in good standing. Ask for recent financial and sales reports. You may be able to get information from financial institutions.

Get references from previous customers or just ask around the neighborhood

Ask the builder for some references of recent customers and follow through with contacting them. Walk around the neighborhood and ask the residents of homes built by the developer if they are satisfied and if their home was completed on time and on budget.

Look for quality red flags

You want to be sure you choose a builder who uses quality materials and craftsmanship. Any major quality issues with the builder’s previous homes may have shown up in the news. Minor quality issues may have resulted in the builder returning to homes they built to fix problems. This is another point to ask the residents of the neighborhood.

Looking for New Home Communities in Greensboro?

Smith Marketing of Allen Tate RealtorsⓇ can help you find available homesites in the most highly desired new home communities in Greensboro. With inside information on the home developers who have worked in these neighborhoods, you can more easily choose a reliable builder. Real estate agents who have worked in the area have a good idea of the background of the various home developers, their sales history, rate of success, the time frames of their projects, and more.
Call (336) 215-7880 today to schedule a consultation with an agent who can give you the scoop on new home developers in Greensboro and the surrounding area.

Home Buying: How Much House Can you Afford?

Published on December 9, 2019 by Smith Marketing

Thinking about buying a home? The first thing to do is determine your price range, or in other words, how much house you can afford. There’s more to it than just applying for a mortgage and finding out how much you qualify for. You will always qualify for a higher amount than you should actually spend on a house. So how do you figure out your price range and then find homes priced within that range?

Neighborhoods such as Grandover Greensboro have a range of homes in different sizes, locations, and price ranges. Don’t feel like you have a choose a neighborhood where all of the houses are about the same size and price, because it may encourage you to buy a home that is too much for you to afford.

How to Calculate your Home Buying Budget

There are online calculators that allow you to plug in some basic information and it will give you an estimate of how much house you can afford, such as this one on bankrate.com. You’ll need to calculate your income and that of your spouse, partner, or co-buyer. That includes wages, alimony, investments, dividends, and any other sources of income. You’ll also need information about the home, such as the down payment amount, loan term, real estate taxes, homeowner’s insurance, and interest rate. Then you’ll need to calculate your monthly expenses and debts. All of this information is used to determine your house price range.

How Much of Your Monthly Income Should go Towards Housing?

It is recommended that no more than 28% of your income should be absorbed by housing expenses and that no more than 36% of your income should be paid toward debt. Having too much debt can lead to financial trouble because you’re left with no liquid income for emergencies. Just because a lender is willing to give you a mortgage for a certain amount doesn’t mean you should max that out on a home. Take the figure you prequalify for and come down at least 20%, but 30% is even better. That should be the top end of your price range.

Don’t Make Yourself “House Poor”

The phrase “house poor” refers to people who spend so much on their home that they don’t have enough money left over to spend on anything fun. If you buy a luxury home that is out of your price range, you better be very pleased with it, because you’ll be spending a lot of time there. You won’t have any money left over to go out to eat, do activities, or take vacations.

Work with Real Estate Agents you can Trust

A trustworthy agent should respect your price range and not try to talk you into purchasing a home you can’t afford. Smith Marketing and Allen Tate RealtorsⓇ are on your side, to help you find the best home within your budget.

Looking for luxury homes that will fit your budget?

Grandover Greensboro is a popular neighborhood with luxury homes in varying sizes and price ranges. If resort-style living sounds like your style (or even if it doesn’t), call Smith Marketing and Allen Tate RealtorsⓇ at (336) 215-7880 to speak with a reliable agent.

“Move-in Ready”: What Does it Really Mean?

Published on December 4, 2019 by Smith Marketing

Are you in search of a “move-in ready” home? If so, you probably have a pretty good idea of what that means to you. However, to someone else, it could mean something completely different. There isn’t exactly a black or white answer to the question. The key is to be clear about your expectations with your real estate agent when searching for homes for sale in Greensboro.

The True Definition of “Move-in Ready”

Technically speaking, for a home to be “move-in ready” it must meet all local codes for a residence, including electricity, water, and locking doors and windows. That’s the bare minimum requirement for a house to be classified under that term. Most potential home buyers are looking for a little more than that.

What Home Buyers Actually Mean by a “Move-in Ready” Home

There are other terms that more specifically describe the condition of a home. Some examples include:

Newly Renovated

Some buyers are looking for a home that has been recently remodeled to include the latest features, new floors, fresh paint, new countertops, etc. Bathrooms and the kitchen are pivotal rooms of focus in newly renovated homes.

New Construction

Some buyers are looking for a recently finished newly constructed home that is complete and ready to be lived in. Some hope to catch new homes in progress but near completion so that finishing touches like flooring and paint colors can still be customized.

Fully Updated

Similar to a “newly renovated” home, a “fully updated” home has had recent improvements made throughout. The term “updated” tends to refer to technical aspects of the home such as plumbing or electrical, but it can include aesthetic features as well.

Communicate with your Real Estate Agent about the Type of Home you Need

You may have a clear definition of what “move-in ready” means to you, but the key is to make sure your agent also understands your definition. Explain what you want and what you are not willing to compromise on. Don’t waste time touring a bunch of “fixer-uppers” when you really want a home that is “newly renovated” or “fully updated.”

Be Willing to Compromise

You may not be able to find a home that is in the exact condition you’re looking for, so prepare to be open-minded and consider some different options. If your time is limited, don’t look at homes that are in need of major work before you can move in. Look for a home that is “fully functional” which means the plumbing works, the electricity works, and the structure is sound, which may be all you need immediately. The rest can be projects for the future.

Find “Move-in Ready” Homes for Sale in Greensboro with Smith Marketing

Smith Marketing and Allen Tate RealtorsⓇ can find you the type of “move-in ready” home you’re looking for. With so many homes for sale in Greensboro right now, you’re sure to find one that meets your needs. Call (336) 215-7880 today to schedule a meeting with an agent.