In a previous post we gave you a bit of an idea of some of the many things that should be running through your mind BEFORE you start looking into home ownership. So, perhaps you've found a couple possible Charlotte dream homes, and your ready to pounce on one of them.When you're down to a few candidates, and hungry to make a decision here are some final deciding factors to think of:

Know what you MUST have and what you are willing to compromise on. While people can give you advice, only you can decide what it is that you need and what you are willing to live without or add later.When it comes to potentially renovating make sure you have your bases covered in terms of what you are allowed to do according to city ordinances.  You don't want to think you can renovate something you actually cannot.

In real estate, and especially here in Charlotte, our mantra is always: location, location, location. Does the location of your new pad work with your life?  How close are the neighbors? Is there public transit close by? Is there outdoor space? How close is the highway? Can you afford it?

A lot of fine people over-estimated their savings, their assets, and their earning potential and when the economy took a downturn so did they. A lot of great people hardworking North and South Carolina families lost their homes due to a small over-assumption in their finances. Don't over extend yourself when you buy a home.  Look at the price, and the future mortgage payments, and be sure you can comfortably take care of them come any kind of disaster.

Use all of these observations to rate the home, this will make it easier to narrow down your top picks and see what it is that you really like or dislike.  As we have said before, home ownership is a wonderful American tradition. Everyone can, and should, have a place to hang their hat that they own!  But, it is also one of the most important decisions you will ever make... So due your homework, and make a well-thought out decision.

Bonnie and Daniel Papandrea
704-756-8071

It's all over!  Tax season is finally done at least for those of us who didn't file an extension.For those lucky North and South Carolinians who are getting a tax refund, an important step is to determine what to do with the extra money. One option is to invest your tax refund in your home. Consider the options below that best fit your housing situation in order to make your tax refund work for you.

First-Time Homebuyers
Taking advantage of today's incredibly low interest rates along with under-valued but beautiful Charlotte homes make home buying a great opportunity and a tax refund can be used toward a down payment. Typically, down payments are 3 to 20 percent of your dream home's selling price. So depending on your refund, you might have a good chunk or a nice portion.  But if it isn't enough, never fear... There are a number of loan options and financing possibilities that can be tapped into as a first-time homebuyer. (Before you set out to buy a home, it's best to talk with a mortgage professional and be pre-approved.)

Refinance Your Home
Like we said, rates are at historical lows... So, refinancing should help a homeowner knock their mortgage rate down or allow them to pay off their loan quicker and save money on interest. (Again, check with a mortgage specialist to determine if a lower rate or different term makes sense for your situation.)

Pay Down Your Mortgage
Paying down your mortgage with your tax refund is also a great way to decrease your debt and increase equity in your home. If you plan on staying in your home for at least the next three to five years, consider investing your tax refund toward the principal of your mortgage.

Bonnie and Daniel Papandrea
704-756-8071

New home-buyers are entering the Charlotte housing market everyday.  For many of these folks, what to buy, when and how it all works can be troubling and mysterious issues.  Of course, your Realtor should be a constant source of support, information and help but, we always encourage people to think about these few items...Be fully committed to buying a home.  Be aware of what you can afford and are ready to look at the options. 

Don't expect your home search to move at the speed of light! It is typical that homebuyers will see upwards of 30 houses before finding the right one.  So don't get disgusted or disgruntled at the 10th!  Enjoy the process!    When you find the perfect home, buy it. 

Do not try to go through this process alone.  Find a Realtor that you trust and allow them to assist you! Not only are they experts in the housing market, but they also understand the process of home buying and thus are an invaluable resource.

• Do you have pets? Do you want pets?
• Do you have large furniture you need to accommodate?
• How are you getting around Charlotte? Do you want to bike to work?  Do you want to drive?  Do you need a garage?
• Do you want to start a family in this house?

So make a chart, make a list, talk it out... But before you jump into the pool, have some of these questions comfortably answered in your head.  Buying a home is one time you DO NOT want to have buyer's remorse. 
Bonnie and Daniel Papandrea
704-756-8071

One of the most important steps in almost every single home purchase is the inspection.  It is your opportunity to work with a trained professional and find out everything about your possible purchase. Today we are going to focus on an integral part of your home and that  inspection...THE ROOF.  Your roof has a tough job. It is the first/best line of defense from Mother Nature. Charlotte weather is usually temperate and pleasant, but we've been hit hard by the elements on occasion.  Any weakness in those defensives will cause serious damage as a result of water, hail, ice, or all of the above. So before, during and after inspection remember these rules for your roof!

1. Outside: Either your inspector, or both of you, should conduct a visual inspection o the roof. See if anything looks out of place, damaged, or missing: missing shingles, damaged flashing, etc.  Any significant problems should be repaired immediately. Conduct similar inspections around any chimney or other outcroppings such as vents.
2. Inside: Next, inspect the roof from the inside. Go up in the attic and look around for any signs of light from the outside. (Hint: if light can get into your attic, so can water! Any cracks will need to be sealed or caulked (or both.) Also, check all ceilings for water stains, cracking, or warping. If you find any, then you know the water is coming from somewhere. And don't assume that the leak is right above the damaged area; water can run for a distance before it settles in and starts to seep through the ceiling material.
3. Found Damage? Before closing, we strongly recommend having any roof needs repaired. Otherwise, make a note to inspect it again every six months, since a small problem can rapidly turn into a large one. If roofing repair is needed at any time go with a professional, and get references. With most cases of home repair, hiring the wrong person will almost always result in subsequent problems.

REMEMBER: Your roof should last you ten to twelve years if properly maintained. Make your first inspection the first of MANY...Get in the habit now of performing regular inspections and keeping an eye out for problems as they occur.

Bonnie and Daniel Papandrea
704-756-8071