The Best Smart Home Features

Home technology has greatly improved over the last few years, helping to increase convenience and energy efficiency. But some smart home features carry more value than others. Here are some that will not only help you enjoy your home more, but will also help increase its appeal to buyers and potentially drive up the sales price when you are ready to sell.

Smart Thermostats. Smart thermostats can be controlled with your smartphone and allow you to schedule temperature adjustments based on your family’s schedule. Not only does this help you maintain ultimate comfort in your home, but helps you save on energy costs since heating and cooling will be reduced when appropriate. The Nest Thermostat has earned glowing reviews and almost universal praise, so it’s one of the surest bets for your home.

Automatic Lighting. Lighting is an overlooked part of home security—leaving the lights on in the evening can deter burglars because the lights suggest someone is home. With automatic and smart lighting systems, you can program your lights to come on in the evening or use your smartphone to turn on the lights before you arrive at home.

Smart Alarms. Gone are the days of controlling your security system from a panel inside the home. Now you can turn them on and off, view camera footage, and even speak through the system to your family members or visitors from anywhere using your phone.

Solar Panels. Although they are a bit of an investment up front, solar panels are a great way to create an energy-efficient home. Aside from saving you money on your energy bills, solar panels are great for the environment. Plus, they also look attractive as far as roofing goes.

Five Things That Factor Into Comps

You may think that sale price is the only factor when you’re looking at comps and trying to set a price for your listing. But it’s actually a bit more complicated. Here are five things that affect comps that you might not be aware of.

1. New construction nearby: Because of low prices for lots and varying prices in home building materials, new homes can actually be cheaper and cost less per square foot than existing homes. If there’s a lot of new construction nearby, that can affect the price for your own listing.

2. Renovations: Recently renovated homes typically sell for more than homes that haven’t been updated in a while. If you’ve recently upgraded your home—especially sought-after upgrades like the kitchen or master bath—your home should be priced appropriately.

3. Developable lots: Not all lots are created equal. Even if the square acreage is the same, a lot that’s easily developable will get a better price than a hilly or rocky lot that needs a lot of preparation.

4. Listing price vs. sale price: Whether sellers actually get their asking price depends greatly on the market. When you’re pricing your home, it’s important to look at sales prices, not just listing prices. The listing price doesn’t always accurately reflect what a home will sell for.

5. Location: Nearby amenities, safety, schools, and noise levels can vary greatly within a neighborhood. Homes in more desirable parts of the neighborhood will sell for a higher price, all else being equal.

How An Agent Can Help Alleviate Stress

Purchasing a home can be a stressful experience, whether you’re a first-time buyer or you’ve been through the process before. But that’s one of the reasons that working with a real estate professional is so worthwhile. With your agent’s guidance, buying a home should be enjoyable, rather than stressful. Here are some of the more unique circumstances where your agent can make your life much easier.

Out-of-town buyers: If you’re looking for vacation homes or moving to a job in a new city, there’s a good chance that viewing homes will be difficult—you could be a long drive or even a plane ride away. With today’s video messaging apps like Zoom or Facetime, your agent can walk you through a property virtually. It’s not the same as walking through in person, but it will at least give you an idea about whether a property is worth pursuing further.

When life is just too crazy: If you’re just getting too busy with everything else going on in your life, a good buyer’s agent should be able to recognize the situation and help you take a step back. They can suggest that you take a few weeks off from your home search to recharge, or only focus on properties that exactly fit your wants list.

Inspection issues: You’re dreaming about move-in day, and then some unforeseen issues turn up during inspection. A good agent can work out those issues by negotiating a lower offer—to cover costs of repairs—or by getting the seller to fix the problem.

Types Of Mortgages You Need To Know About

Before you purchase a home, it’s important to educate yourself of the various types of mortgages you can get so you can make the right decision when the time comes to choose yours.

Fixed Rate. The most popular on the market, a fixed-rate mortgage is ideal for homeowners who expect to stay in their home for many years. With a fixed interest rate and monthly payment, this loan makes it easier to plan your budget year over year.

Adjustable-Rate. This type of mortgage offers a lower interest rate and monthly payment at first, then slowly increases as time goes on. This type of loan can be beneficial for younger home buyers who expect to grow in their careers and make more money in the future.

Government-Insured. There are several types of government-backed mortgages including Federal Housing Administration (FHA) loans, U.S. Department of Veterans Affairs (VA) loans, United States Department of Agriculture (USDA) loans, and more. These programs can help you finance a home if you meet each one’s qualifications.

Conforming. A conforming loan is one that falls within the maximum limits set by government agencies that back most U.S. mortgages, Fannie Mae and Freddie Mac. With this type of mortgage, borrowing costs and required down payment are generally less, but interest rates can be a little higher.

Jumbo. This type of conventional loan applies if the home’s price exceeds federal loan limits. Your credit score generally must exceed 700 and you are required to make a larger down payment. However, it allows you to borrow more money to purchase a more expensive home.