After You Move In
The First Week
- Install new locks.
- Make extra sets of keys.
- Buy a fire extinguisher for the kitchen and garage.
- Install or check the batteries in the smoke detectors.
Who's Taking Pictures?
The first 6 months you will notice people taking pictures of your house.
They are real estate appraisers.
When you had an appraisal for your purchase, the appraiser had to take
photos
of similar home sales. Lenders require photos of comparable sales used
in an appraisal.
Now your house is being used as a comparable on appraisals being done
for other sales
or refinancing.
Keep Your House In Shape
- Make repairs and do preventative maintenance as needed early on.
- Keep an eye open for termite droppings and wet wood condition.
- Keep rain gutters and downspouts working properly to drain water
away from the house.
Home
Safety Check List
- Install good sturdy handrails.
- Service all heating equipment.
- Install carbon monoxide detectors.
- Use anti-skid material under area rugs.
- Install smoke detectors in key locations.
- Install an automatic night light outside bedrooms.
- Keep fire extinguishers handy in kitchen and garage.
- Keep medicines, poisons and firearms in child secured cabinets.
- Properly store paints, solvents and gasoline in a well-ventilated
area.
- Provide rope or chain ladders on upper stories if there is no fire
escape.
- Install ground fault circuit interrupters (GFCI) in bathrooms and
by kitchen sink.
Earthquake Preparedness
- Food for a week.
- Bleach to purify water.
- Camp stove and extra fuel.
- Brace chimneys to the structure.
- Strap water heater to studs in the wall.
- Fire extinguisher and first aid kit handy.
- Know where to turn off gas and water mains.
- Secure appliances and tall furniture to the wall.
- Securely fasten mirrors onto dressers and walls.
- Make sure your home is bolted to the foundation.
- Water: 1 gallon a day per person for at least three days.
- Place bed away from windows and threat of broken glass.
- Protect glassware and dishes with childproof locks on cabinet
doors.
- Keep flashlights, spare batteries, matches and candles in a
special drawer.
Start A House File
Keep all important house related papers, title insurance, loan
information, property insurance, etc. in a central "house file"
system.Important: save all receipts for any home improvements for later
"possible"
tax write-offs.
Thinking Of Adding On?
- Always get
permits.
- Don't over improve for the neighborhood.
- Use professionals to maximize your investment.
- Addition should blend well with the existing architecture.
Well-planned and executed
remodeling jobs are a good investment and some specific home
improvements even can increase the value above the initial cost. Any
owner contemplating an addition and/or change to his or her property
should first check with the appropriate county or municipal building
department to avoid any building code violations, which will
generally render a seller's title unmarketable. In addition a
seller's failure to disclose such violations (they have knowledge
of) may constitute a material misrepresentation, entitling the buyer
to rescind the transaction and obtain the return of his or her
money.
What Makes More Sense - Adding on or
Buying a Bigger?
Homeowners should consider several questions before making a choice
between adding on to an existing home or moving up in the market to
a bigger house.
- How much money is available, either from cash reserves or through
a home improvement loan, to remodel the current house?
- How much additional space is required?
- Would the foundation support a second floor?
- What do local zoning and building ordinances permit?
- How much equity already exists in the property?
- Are there affordable properties for sale that would satisfy
housing needs?
Consider limitations of your neighborhood. It makes more sense to add on to the smallest house than to further improve the largest one in the area. Ultimately, the decision should be based on individual needs, the extent of work involved and what will add the most value.
Save all receipts of money spent for permanent improvements, repairs after a fire, flood or storm and special property tax assessments for neighborhood improvements.
Capital gains are determined by the difference in price from the time a home is purchased and the time it is sold, minus the cost of any permanent improvements.
Thinking Of Refinancing?
- Don't list your house for sale if you are thinking of refinancing.
- Lenders usually require your house not to be listed in the recent
past.
- Appraisers are required to make such disclosures if known.
- Keep Your Insurance Up To Date
- Keep records of any improvements as you have them done.
- Keep in a binder, receipts and owner's manuals of any equipment
you buy.
- Take photos or video's of all your rooms and keep them in a safe
place.
- Property values can rise dramatically in just a few years which is
why it is important to have replacement cost insurance. Should you
have a theft or fire, these will be very valuable for claims.
Know Your Neighborhood
After you are settled in, introduce yourself to your neighbors and
invite them over.
Most people want to know who their neighbors are, but most are shy
about making that
first introduction.
Break the ice first and introduce yourself.
Get involved in the neighborhood watch program. In areas of high
crime, community watch programs organized by homeowners can lower
the crime rate and rid a neighborhood of graffiti. These
improvements also can enhance property values.
Knowing your neighbors is why people enjoy living where they live.
The Author, Roy White, and his wife, Shirley, have been helping peop-le buy and seel real estate in Las Vegas for over 28 years. If you have any questions or comments, please call Roy and Shirley toll free at 1-866-374-3444 or e-mail them at CENTURY21WHITE@aol.com
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The Roy and Shirley White Team
CENTURY 21 Aadvantage Gold
5041 N Rainbow Blvd
Las Vegas, NV 89130
Direct Line 702-610-4270
Toll Free 1-866-374-3444
Fax Line 702-309-4483
Each office is independently owned and operated
