Zimmerman Real Estate Blog

My wife and I purchased 8 homes — here's our best advice for buying a house

Homebuyers

The Motley Fool

Buying a home can seem especially daunting if you've never done it before.

A house is not just the biggest single purchase most people will ever make, it's generally many times more expensive than the next closest thing. Make a mistake, and you could end up facing serious money problems, a miserable living situation, or any number of other predicaments.

The good news is that you don't have to worry about making mistakes, because I've made them all. Over the past 20 years, dating back to before we got married, my wife and I have purchased eight homes. We've owned

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How to buy investment property

Investments

Do your research; each piece of property is different. (Philby Illustration / Ikon Images) Debbie Carlson Chicago Tribune    

There are a lot of pluses to owning rental real estate: diversifying from the usual investments of stocks and bonds; offering an alternative stream of income; and creating a potentially scalable business. But there are challenges, too — it requires capital, a time commitment and dealing with tenants.

"Real estate investing is not for the faint of heart," said Robert Dolan, owner of mortgage broker Capital Financial Group in Winnetka.

Real-estate experts said people who want to get into the world of owning rental property need to

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Selling a Home Costs Money Too

Sell a home

BY: JANN SWANSON May 31 2017, 11:35AM  

Several entities that wonder about such things have commented recently on the apparent reluctance of homeowners to sell their homes.  Historically Americans have tended to buy their first home at a certain age, and move up into a newer, larger, better located, or more amenity laden home a few years later, and then perhaps move again to downsize or relocate to a more suitable place for retirement.  Now, not only are they buying that first home later than their predecessors, but once settled in, they tend to stay there.  This has had ramifications for potential buyers as inventories of existing homes for sale are at record lows.

This lack of mobility was

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9164 Hickory Lane, Huntsville, OH 43324

OPEN HOUSE THIS SATURDAY, July 29th

1:00 - 3:00 PM

Located on lightly trafficked Hickory Lane at Indian Lake's Lakeridge Island, this amazing waterfront features a panoramic open water view, calm waters for easy docking, swimming & fishing along 95' linear lakefront, w/ triple covered boat dock & power lifts. With over 2388 SF, 5 BR, 4 full baths & 2-car garage, this amazing home has low maintenance siding (brick & faux shake cement board), floor to ceiling stone WB fireplace, large greatroom with wood beamed cathedral ceiling round top windows, breakfast bar, corian kitchen countertops, Jenn-Air range & full-appliance package: the formal DR opens onto an enclosed/screened-in pavered patio & exterior

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Buying second home before selling current one, while tricky, can be possible with the right contingency plan

By Ilyce Glink and Samuel J. Tamkin May 22
(Steve Helber/Associated Press)  

Is it smart to buy another home before selling your present home?

That’s a loaded question given the lack of information you’ve shared with us, but we’ll try to give you some guidance.

As a general rule, you’d rather know that you have a buyer in hand to purchase your home before you go out and buy another. Most folks can’t afford to own two homes at the same time. You might not have enough cash on hand to put down the money needed to buy the second home, or you might need lender financing and your lender

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Top 10 Reasons to Hire a Real Estate Agent

By Elizabeth Weintraub Updated June 18, 2016  

With so much information readily available online, clients sometimes ask me, "Why should we hire a real estate agent?" They wonder, and rightfully so, if they couldn't buy or sell a home through the Internet or through regular marketing and advertising channels without representation, without a a real estate agent. Some do OK, many don't. So if you've wondered the same thing, here are 10 reasons why you might want to consider hiring a professional real estate agent.

Senior couple visit new home with an estate agent

 

Andrew Bret Wallis/Photographer's Choice RF/Getty Images

1

 Education & Experience

You don't need to know everything about buying and selling real

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Open house

The following originally appeared on Unison.com.

Buying your first home is likely one of the most memorable events of your adult life. You have scrimped and saved and now it’s finally time to buy. But what should you expect when you actually go through the process? Like many other rites of passage, your expectations of what may happen could be a little different than the reality. To prepare you for your first-time home buying experience, here are some tips to keep in mind.

1. Really understand the finances

First-time buyers are excited about looking for homes and don’t often take enough time to understand all the financial aspects of buying a home. You should understand exactly how much you can afford before you fall in love with a home, so

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Four Seasons House

There's a selling myth that you should wait till springtime to sell your home. While spring is the busiest season for real estate sales, people buy homes 365 days a year. If you decide you need to sell your home in the off-peak season, emphasize its seasonal amenities.

Choose Your Selling Season

Because many buyers prefer to move in the spring or summer, the market starts to heat up as early as February. Families with children are eager to buy so they can move during summer vacation, before the new school year begins.

The market slows down in late summer before picking up again briefly in the fall. November and December are traditionally slow months, although some astute buyers look for bargains

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6 Questions to Ask Before Selling Your House

 

The idea of selling your home may be exciting, but there's a laundry list of questions you must ask yourself before even thinking about hiring a realtor. From determining if now is the best time to sell, to deciding if your curb appeal is up to par, consider this comprehensive list of presale questions to get your ducks in a row.

1. What is the remaining balance on my primary mortgage and any other home equity loans I have taken out?

You first need to determine if you can afford the process of selling your home. Ideally, you'll make a profit from the sale, but this doesn't always happen.

You need to check how much you owe on the mortgages and loans you've taken

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Simple Ways To Save Money When House Hunting

Home sweet savings.

By HuffPost Partner Studio     

There are a ton of emotions that come into play during the home buying process, making it all too easy to overlook potential money drains. To help you avoid buyer’s remorse, we’ve partnered with H&R Block to bring house hunters tips on saving money when looking at properties. Because your home should be one of the smartest financial decisions you ever make.

House hunting

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