Author: Creative Programs and Systems - page 237

Top Remodeling Projects of 2016

Posted on by Creative Programs and Systems

Why do people choose to remodel?  When you are looking into home improvements for your home do you do so based solely on your own desires or do you renovate because of popular trends that hit the market? For those of you that improve your home based on trends that are popular this article is written directly for you.  In 2016 these are sure to be the most popular trends in the home improvement industry.

  • Replacing the entry door of your home: The curb appeal of your home is of utmost importance when it comes to home improvement projects.  One of the most lucrative projects that homeowners can undergo is replacing the homes entry door.  This is in fact one of the most valuable renovations that homeowners do as it recovers the value of the project over one hundred percent.

The average expense of an entry door replacement is anywhere between four to eight hundred and fifty dollars.  The total cost and added value does not necessarily increase the equity of the value a great deal, like full kitchen and bathroom remodels, however the return on investment of an entry door replacement is one that cannot be outdone by any other home improvement project.

  • Remodeling the homes bathrooms: Unlike an entry door replacement which is relatively inexpensive a bathroom renovation costs a good chunk of money and time to execute.  Remodeling a bathroom continues to remain the most popular option in home remodeling throughout the United States. It is the one area in the home that is used by everyone that enters your home and therefore needs to be comfortable and welcoming.

For homeowners it is the room that is entered the most.  It is one of the two most popular rooms within the home and really helps to sell your home.  If your home is identical within a subdivision it has been proven the home with the updated bathroom or kitchen will sell faster and for more money than an equivalent home for sale in which the living room or bedrooms have been updated.  The improvements within a bathroom will increase the asking price you can seek for your home upwards of sixty percent of the overall cost of the bathroom remodel including materials and labor.

  • Garage Door Additions or Remodels: When looking for projects that offer a high return on investment consider the replacement of your homes garage door.  The total overall value s not much but you are almost guaranteed to recoup the expense of the renovation.  If you replace your garage door for around one thousand dollars you can expect the sale price of your home to increase by at least the same amount.

Trendy home improvement projects aren’t always the most popular options when it comes to renovations.  Many times homeowners are interested in projects to increase the value of their home in terms of their overall use and enjoyment of the space.  No matter your reason for updating and improving your home be sure to keep trends and renovations in mind that will be popular to the masses.  It is more difficult to sell a home that has been overly customized verse one that has a number of neutral improvements.

The Home Doctor, based in Livingston County including Brighton and Howell Michigan, offers a variety of home renovations to clients ranging from bathroom remodeling to age in place home modifications.  Contact http://glenmillerthehomedoctor.com/ today all of your home renovating needs.

Glen Miller The Home Doctor

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Myths About The Refurbished Electrical Component Industry

Posted on by Creative Programs and Systems

There are plenty of myths surrounding the industry of refurbished electrical components.  Different people have varying opinions on when to use them and how to ensure that they are safe and reliable.  The truth is that reconditioned electrical components are every bit as good as new products.  In fact some may even say better because of the rigorous testing and stringent standards the electrical parts are put through before they can be sold.

Many companies that sell quality refurbished electrical parts completely disassemble the piece and clean and inspect each part thoroughly.  From there the parts are painted with the highest quality of paint, usually acrylic enamel, which is specifically chosen because of its durability.  After this is complete the electrical piece is reassembled and tested.  This is true of reconditioned breakers as well.  In order to know when and how to use electrical reconditioned breakers we shall look into the truths of refurbished breakers.

The goal when purchasing and using any reconditioned electrical product, including retrofitted circuit breakers it is important that you have complete confidence in their ability to perform.  Just as new electrical components do, reconditioned electrical parts decrease the number of unplanned outages experienced while keeping personnel safe.  The one main difference between refurbished and new electrical parts is the cost associated with them.  It makes sense that anytime you are replacing used, worn out components with new ones the manufacturing equipment will be safer and more reliable.

The main myth is that you are taking a risk to save your company a few bucks; in fact the old adage is without risk there is no reward, right?  This is not the truth when choosing refurbished over new in manufacturing.  In fact choosing high-quality reconditioned breakers and more can not only save you money but prove to outlast their new counterparts.

Choose to work with a company that has a reputation of providing high quality new and quality reconditioned components.  Not all electrical company’s and suppliers are of the same quality.  Look for a company that is interested in a number of variations of the industry from asset recovery, product reconditioning and the sale of new electrical components.

To ensure that you are purchasing a quality reconditioned power breakers ask about the company’s refurbishing policies.  A power breaker should only be sold as a quality refurbished product if the supplier has cleaned, analyzed, reassembled, tested and only sold after passing a final inspection and rigid testing.

The pricing for refurbished parts can vary between companies.  Some reconditioned electrical part suppliers will loan you a good reconditioned part, such as a power breaker, while they actually take yours in and recondition it.  This leaves you with a working breaker so that there is no down time on your equipment and you will have a new, reconditioned part within a few days or weeks depending on the company’s ability to turn products around.

The product is not only cleaned and reassembled; the latest technology is installed within the component adding to the integrity of the reconditioned product.  You will be saving your company time, money and improving the quality of the machines in which employees are working with.

J&P Electrical is a full service electrical equipment company.  At J&P, we supply contractors, end users and supply houses with new surplus, quality reconditioned and obsolete electrical equipment. Contact us today at https://jpelectricalcompany.com for all of your bus plug, circuit breaker, switchboard, fuses, disconnects and more.

 

J & P Electrical Company

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Expelling the Myths Surrounding Refurbished Electrical Components

Posted on by Creative Programs and Systems

There are a variety of myths surrounding the refurbished, reconditioning electrical component business.  With every myth comes an explanation that helps put it to rest or one that brings it to light.  This article will lie to rest some of the most prevalent myths within the electrical component industry.

Myth VS Reality within the Reconditioned Electrical Component Industry

  • Reconditioned electrical equipment is often counterfeit: Surplus and counterfeit electrical parts are part of the gray market within the electrical equipment industry and should not be lumped together with legitimate suppliers of quality refurbished, reconditioned electrical components.  This is something that many original equipment manufacturers and licensed distributors like to lead industry users to believe in order to ensure they are the only sought after suppliers of electrical components.

The truth is that most reconditioned electrical components are used to continue running equipment that is older and often outdated, most not supported by the original manufacturer anymore.  To avoid buying counterfeit parts understand that most counterfeits parts are sold to replace components on new electrical equipment.  Surplus equipment refers to new unused electrical equipment and this is where counterfeiting is found most often.  To avoid counterfeit products customers should note that most reconditioned products are for older model equipment.

  • Refurbished electrical equipment is not as safe to use as new: This is a myth that can be completely busted by the procedure that is in place by both the electrical original equipment manufacturers reconditioning service centers and by the electrical industry at large. With the required multiple step process to ensure the refurbished product performs to the original specifications it is guaranteed that the reconditioned part will work as safely as a new surplus product.

 Steps in Refurbishing Electrical Equipment

  • Initial testing is conducted
  • Products are disassembled, inspected and cleaned
  • Components are replaced by worn & aging components
  • Products are reassembled
  • Performance testing and component verification is performed
  • Documentation is presented and submitted
  • Certifications are done to state that the equipment may be even safer than the original

In fact many refurbished electrical components are safer than new original manufactured equipment because it is individually tested.  OEMs are not required to test each product yet are only required to perform a batch test on the electrical components that are produced.

As we continue in this installment on myths verse the realities of refurbished electrical components we will look into the following myths and dispel them.

  • Reconditioned electrical equipment is lower quality and less reliable then a new product
  • Refurbished electrical equipment is less expensive to buy but more expensive to operate
  • Reconditioned electrical equipment increases safety and liability concerns
  • Only original equipment manufacturers can properly recondition electrical components
  • Refurbishing electrical equipment invalidates the Underwriter Laboratories Seal

We will in fact prove it is true that not all myths are created equal; in fact many myths make for really bad business decisions.

J&P Electrical is a full service electrical equipment company.  At J&P, we supply contractors, end users and supply houses with new surplus, quality reconditioned and obsolete electrical equipment. Contact us today at https://jpelectricalcompany.com for all of your bus plug, circuit breaker, switchboard, fuses, disconnects and more.

J & P Electrical Company

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The Pros and Cons of Metal Roofing

Posted on by Creative Programs and Systems

When it comes to any home improvement project around your home you must consider all of the pros and cons of the different options each variable offers.  This is especially true when you are looking into roofing materials.  When it comes to roofing and roofing contractors there are a variety of differences between materials that can be used.  Each material has a unique installation process which is why it is also important to choose the right contractor to install the different types of roofing.

Metal roofing contractors specialize in the installation of metal roofs; asphalt shingles are installed best by roofing contractors that specialize in shingling and so on and so forth with wood, tile, clay and slate.  In this article we will focus on the pros and cons of different types of metal roofing including steel, aluminum and other metal roofing materials.

The Benefits of Metal Roofing

  • Life Expectancy: Roofing contractors that properly install a metal roof will tell you that when properly installed the roof can be expected to last for up to fifty years.  The roof should last as long as the house or at least the time period in which you live within it.
  • Weight: Metal roofing is the lightest of all roofing materials. Per square metal roofing runs between fifty to one hundred and fifty pounds where as tile or concrete runs between seven hundred to nine hundred pounds per square.  Sheet metal roofing is my far the lightest of all metal roofing options.
  • Quick and Easy Installation: There is no need to remove the under layering of shingle roofing in order to install a metal roof which makes it quicker and easier to install then most roofing materials. Another reason metal roofs are faster to install then shingling and such is because the metal shingles come in panel sections which are anywhere between twelve to thirty six inches wide.
  • Resistant to Fire: Metal is noncombustible and therefore is given a Class A fire resistant rating which means it is the most fire resistant material that can be used.
  • Conductor of Heat & Cool: A metal roof is a fabulous reflector of heat from the sun thus saving on air conditioning costs.  The metal material is low in insulation R-value and utilizes the space between the metal and roof deck to increase energy efficiency.
  • Roof Pitch: Low pitch roofs are notorious for their potential leaks.  When a low pitched roof has metal roofing installed leaks are not as prevalent as they are with shingles. The minimum roof pitch that metal is used on is three in twelve.  This means that the roof rises three inches for each horizontal foot of the roof.
  • Maximum Run for Snow & Rain: The interlocking design of the roof panels make metal it impermeable against snow and rain. The surface is hard and slippery as well making it an obvious choice in climates known for being cold and wet.

The Drawbacks of Metal Roofing:

  • Expense: One major disadvantage of metal roofing is that it is quite expensive. This is offset however by the longevity and low maintenance involved in keeping a metal roof looking as good as the day it was installed twenty years later.
  • Noise: This too isn’t anything major and in fact many homeowners find it comforting and relaxing. Others however hear the ping, ping, ping of the rain and say it is an intense sound like that of a beating drum.

Consider what you desire in a roof before choosing a metal roof over other types of roofing materials.  It is also important to think about and research the contractors available in your area that specialize in metal roof installation.  Good metal roofing materials are only as good as the contractor that installs them.  Low quality installation can make even the highest quality of metal roofs falter.

Home Pro Roofing contractors offer a variety of roofing services throughout Brighton, East Lansing, Ann Arbor, Fenton and Commerce Township, including installation of shingle roofs, metal roofing and roof repairs.  You will find them at http://www.homeproroofingmi.com today.

Home Pro Roofing MI

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Everything You Need To Know Before Purchasing A Metal Roof

Posted on by Creative Programs and Systems

When it comes to purchasing a new roof for your home many homeowners are in the dark.  It is one of the many purchases that don’t get made that often when you own a home.  When homeowners initially start to think about replacing their roofs the choices can be quite bewildering.   Questions throughout the roofing industry don’t have a one size fits all approach.  There is not one price for all metal roofing.

Variables exist between roofing contractors and depending on exactly what the homeowner is looking for.  The materials and supplies for roofing can vary in cost anywhere from one dollar upwards to twenty dollars per square foot.  The truth in roofing is that you get what you pay for.  There are literally hundreds of metal roofs and metal roofing contractors to choose from.  Below are some tips on what mistakes to avoid when looking into metal roofing for your home.

The materials in metal roofing are not all the same and to assume they are is a mistake.  The metal varies in thickness, finish, types of metal and profile.  Similar to shingle roofing, metal roofs come in a variety of shapes, sizes, finishes, types and thickness.  Each of the aspects and difference between the metals can affect the roofs performance, lifespan, durability and price.  This is the same within asphalt shingle roofing.  The labor paid for roofing contractors to install the various types of metal roofs varies as well.

Another mistake to avoid is thinking that all roofing contractors can install any type of roof you desire.  This is simply not true.  Metal roofing contractors need to be installed by roofers specializing in metal roof installation.  The composition between shingles and metal is completely different and therefore it takes experience and training to install metal roofing properly.  When hiring a roofing contractor to install your new roof be sure to do research on not only the materials but contractors as well.  A little bit of effort goes a long way when it comes to having a new metal roof put on your home.

Don’t purchase the metal for your roof alone without the assistance and advice of your contractor.  If you purchase the wrong metal for your roofs application you can be wasting your money.  A metal roof that is ideal for the snow country may not be ideal for a home elsewhere.  The wrong metal can hook the moving snow and ice while causing damage to the existing structure.  This is the same if you live near an ocean and salt water the wrong base metal can cause early corrosion and decrease the longevity of the roof.

It is a mistake to purchase a roof based on cost alone.  Metal roofing and roofing contractors will vary in cost.  One metal roof may be less expensive as it is thinner and easier to manipulate when being installed.  A thicker more corrosion resistant material may last longer.  It is best to determine what you are looking for and adjusting your budget to afford the roof that will be the best value for your dollar.

A metal roofing expert is as important as hiring a doctor specializing in the type of surgery you need over a general surgeon.  You don’t want a knee surgeon to correct your vision.  The same is true when it comes to your home improvements; even when improving your homes roof.

Home Pro Roofing contractors offer a variety of roofing services throughout Brighton, East Lansing, Ann Arbor, Fenton and Commerce Township, including installation of shingle roofs, metal roofing and roof repairs.  You will find them at http://www.homeproroofingmi.com today.

Home Pro Roofing MI

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Exactly What is a Construction Surety Bond

Posted on by Creative Programs and Systems

 

A construction surety bond is commonly known as a contractor’s license bond.  It is used to make sure that a construction project is completed as stated within a given contract.  In the event that the contractor is unable to complete said contract on time, within budget or other ramifications stated within the contract the surety company will guarantee payment to the owner to prevent financial loss.  This leaves the contractor on the hook to the surety company to pay back the amount that was paid out by the surety company.

In short a project owner or oblige enters into a contract with the principal or contractor to complete a specified project.  Then the contractor or principal secures a surety bond from a surety company or surety broker who sells contractor’s license bonds.  Local surety brokers can be found throughout online searches by looking under, “surety bonding firms or surety bonding companies”.

If a contractor fails to complete the project as stated within the contract the surety company must compensate the owner of the project for any loss or find another contractor that can complete the contract as stated.  The surety company may then proceed to seek repayment from the original contractor for their losses.

When it comes to any federal, state or local government project the contractor is required, by law, to be bonded in order to bid.  In fact some areas require a bond be in place before they will even consider issuing a contractor a construction license.

Surety bonds don’t only protect the project owner they work to cover subcontractors that are hired in order to complete projects that are contracted.  The surety bond will cover the expense of suppliers, subcontractors and damage that occurs to the property as a direct result of the construction project as well as tools and materials that are damaged or stolen.

Construction surety bonds are only sold through certain agencies that are known as bond producers or bond agencies.  The job of a surety agency is to work with contractors throughout the entire process of obtaining a bond as well as creating a relationship where they continue to supply bonds to the contractor as their construction companies grow and take on new commitments.  A bond producer plays an important role.  They should provide the following services:

  • The surety company offers advice that increases the profitability of the company by looking into management and all the technical aspects of the business.
  • The surety company will help contractors with their relationships with other service providers such as industry experts like accountants and attorneys.
  • In order to ensure that the financial requirements are met by the contractor seeking a surety bond the company is responsible to review all financial documents that are required by contractors seeking bonds.
  • The surety company is responsible for ensuring that the contractor has a surety bond that matches up with their needs. Most surety producers have relationships in which they offer bonds to more than one company.  With this in mind it is important that the surety producer is able to maintain relationships with several various surety carriers at one time.
  • The main point of contact for a contractor is the surety producer. This remains the same throughout the entire bonding process.  The surety company must remain in contact with both the contractor and the carrier throughout the entire process of the project.

Construction Bonding Specialists, LLC are dedicated Surety Bond Professionals that are aligned with several Treasury Listed and AMBest Rated Surety markets which allows them to assist with virtually all Bid, Performance and Payment, Financial Guarantee and Supply bond needs.  Find out more information at http://www.bondingspecialist.com.

 

Construction Bonding Specialists

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Three Basic Bonds Used In the Construction Industry

Posted on by Creative Programs and Systems

There are three basic type of bonds used within the construction industry.  They are the bid bond, the performance bond and the payment bond.   These three basic types of bonds are used to guarantee that contractor will perform the work contracted, at the price contracted within the period of time contracted.  If this doesn’t occur the bond company will pay the owner to prevent financial loss and the bond company will collect payment from the contractor.  Below is exactly how bid, performance and payment bonds work.

  • Bid Bonds: This type of bond is obtained to guarantee that the bid that is submitted is in good faith. It states that the contractor enters into the contract at the price that is bid and will perform the required performance and payment bonds.
  • Performance Bonds: This type of bond is obtained to protect the owner of a project from any financial loss if the contractor fails to perform the contractor as stated in the terms and conditions.
  • Payment Bonds: This type of bond assurers that a contractor will pay the price specified to subcontractors, laborers and material suppliers as guaranteed within the contract.

In order to prequalify contractor needs to prove to a sureties company that they are an acceptable risk.  It is up to sureties to accept the risk of contractor’s failure based on a thorough analysis that pre-qualifies the contractor.  This ensures that the contractors business is a risk worth taking.  It is an in-depth analysis that ensures the contractor’s business operations are legit.

The surety company must be completely content that the contractor meets certain criteria before issuing a bond.  The criterion looks something like the following:

  • High-quality references with integrity and solid business reputations.
  • A strong ability to meet all of their current and future obligations in respect to both financial and employee abilities.
  • Industry experience that matches the requirements that are stated within the contract.
  • Equipment that is necessary to perform the work that needs to be done or the ability to obtain it when it is needed.
  • The strength financially to support the desired load of work that is contracted within the contract period.
  • A credit history that is established and a relationship with a bank that extends a line of credit if needed.

As a surety company it is important that they are satisfied that the contractors that they have extended surety bonds to will satisfy their requirements. The contractor should run a well managed, profitable company that fulfills their word fairly and performs all of their obligations within a timely manner.

Construction Bonding Specialists, LLC are dedicated Surety Bond Professionals that are aligned with several Treasury Listed and AMBest Rated Surety markets which allows them to assist with virtually all Bid, Performance and Payment, Financial Guarantee and Supply bond needs.  Find out more information at http://www.bondingspecialist.com.

Construction Bonding Specialists

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Secrets To Buying A Home In The New Year Continued

Posted on by Creative Programs and Systems

Bigger isn’t necessarily better:  We are naturally drawn in to the ideal that bigger is better.  The same is not true when buying a home.  A bigger home can often mean a bigger mortgage payment, higher expenses and more maintenance.  Also, buying the biggest, best home on the block can set you apart from the neighbors.

The appeal for the biggest home on the block is limited because it is different than the natural appeal of the neighborhood.  If the neighborhood is full of ranch homes with one car garages set within the one hundred and fifty thousand dollar range and you purchase the only home within the neighborhood with two stories and a two car garage for two hundred and fifty thousand dollars you have basically bought a house with little appreciation value overall.  Buying the worst home leaves a lot of room for appreciation upwards towards the highest valued home in the area.

Consider More than just the Mortgage Payment: The mortgage payment is not the only payment you need to concern yourself with.  It is just one of the many expenses that you will accrue when owning a home.  Consider the costs that come with owning a home before saying yes.  Look at the utilities as well as the hidden fees that are often unspoken like grinder fees and water fees.  Uncovering these sleeper costs will ensure that you are covered and can truly afford the costs that are associated with buying the new home.

Avoid Being Over Emotional:  Never buy a home based on emotions.  When you fall in love with a home you often make irrational choices that lead to bad financial decisions.  Trust your instincts.  Go for the overall value of a great house verse the obsession of a certain aspect of another.  As with any investment it is best to relax, breathe and think before reacting.

Have an Inspection Done: Never buy a home without having it inspected by a professional home inspection company.  It will save you thousands of dollars in the long run.  Being prepared for what is wrong with the home will allow you to negotiate prior to closing.  This ensures that you are at an advantage during the bidding process.  An inspection will prevent you from overbidding.  Paying too much for a home that has hidden work that needs to be done to keep the space in working order is a sure way your home will not build the equity you hope for.

Get to know the Neighborhood: Truly stalk out any neighborhood you are looking into before putting an offer in on a home.  Get a copy of the HOA rules and regulations, do a dry run to work at the times you will be going and coming and observe the behavior of the people within the subdivision.   Research the schools in the area as well, even if you do not have children.  A solid school district can increase the price a buyer is willing to pay for a home by up to twenty percent.

The number one secret in buying a home is using a qualified real estate agent who knows the local area and understands your needs as a buyer.  This will help determine if you get the home buying experience you have always dreamed of.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

C21 Lady of the Lakes

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Secrets To Buying A Home In The New Year

Posted on by Creative Programs and Systems

Keep All Money Right where it is: When you are looking into buying a new home it is crucial that you keep all of your funds right where they are.  For three to six months prior to buying a home avoid taking on any new credit card debt, making a large purchase or taking money out of your savings account.  Your credit report is what mortgage brokers rely on to help lenders determines your credit risk and therefore the interest rate on your new home loan.  It is crucial, in order to get the best mortgage rate, that lenders can visually see where your money is and what it has been spent on.   Now is the time to stick money away and not the time to start purchasing items for the new home.  Spending habits in the months before applying for a mortgage can either help or hurt your ability to receive reasonable mortgage rate.

Get Pre-Approved for a Mortgage: Two terms: pre-qualified and pre-approved are often used when consumers are looking to purchase a new home.   Pre-approval says that a lender has looked at you, your financial criteria and has agreed that you can afford a home and will give you a figure of exactly how much you can afford and how much they will lend to you.

Being pre-approved allows your realtor to narrow the focus down to homes that you are pre-approved for.  Knowing what you can afford significantly increases or decreases the market of homes for you to look into.  With pre-approved loans be sure you are getting the best mortgage available.  Look into hidden expenses and fees for processing; make sure you are not paying for extras in a home loan that are not necessary for your situation.

Survey Property for Boundaries:  When you find a home that you believe is the one the first step is to determine exactly what you are purchasing and for how much.  Do not rely on the property lines specified by the seller as these may be fictitious boundaries that have been observed over time which may not be entirely accurate.  Knowing ahead of time what you are purchasing helps to prevent issues further on down the road with neighboring homes.  It is also important to note that the property taxes that will be assessed are based on the property lines.  This new survey will allow you to have an accurate map drawn up that can be submitted to local property tax assessors.

Timing the Market is Unlikely:  It is unlikely that at any time, even with detailed research and experience in the market that you will be able to time the real estate market.  Don’t obsess trying to time the market; buy a home when you are in the position to and sell based on when it is right for you.  You will only find your perfect home when you can afford it because affording it is what makes it perfect.  The real estate market fluctuates all the time.  In one given year you will see highs, lows and then highs again.  If you wait to try to time the market perfectly it is most likely you will time yourself right out of buying a new home or selling your old one.

In our next installment exploring the secrets of buying a home we will look into why a bigger home isn’t necessarily better, looking into hidden costs outside those of the mortgage payment, the emotions of a buyer, home inspections and the purchase bidding process of a home.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

C21 Lady of the Lakes

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The Role Of A Mortgage Broker In Buying Your Dream Home

Posted on by Creative Programs and Systems

Mortgage brokers work to help make the dreams we have made come true.  Working in conjunction with real estate professionals, mortgage brokers lead home buyers to the perfect home that is well within their budgets, including the hidden costs buyers often find out later that sooner when buying a home.  The following tips will help you to avoid mistakes that you may end up regretting later on.

Budget Carefully:  The goal is to budget the expenses you have with the new home in a way manner that allows you to remain comfortable.  Bigger isn’t always better.  A large home with a mortgage to match isn’t going to bring you the happiness you desire if your lifestyle has to change drastically to afford it.  Plan ahead to avoid hidden fees within a mortgage such as primary mortgage insurance or PMI which is insurance that is paid on top of home owners insurance that guarantees the payment on the mortgage.  In order to avoid this cost it is imperative to save enough money for a large enough down payment.  Most mortgage lenders require twenty percent of the face value of the home loan to be placed down on the home to avoid paying an extra monthly PMI.

Research Mortgage Brokers or Possible Lenders:  Meet with professionals to discuss what options are available to meet your mortgage needs.  There will be several options that fit your needs but one will fit your needs better than all the rest.  In order to evaluate if you will be able to afford the monthly mortgage payment make a list of all of your current expenses and anticipated costs with moving into the new home.  If you need to make renovations or want to improve the home in any way you must calculate those expenses in to the overall monthly budget to ensure you will be comfortable with the outgoing monthly payments.

Hire a Local Real Estate Agent:  A local agent knows that the area in which you are searching inside and out and therefore can lead you to the best neighborhoods and locations to fit your needs.  They will be able to point you in the direction of recreational areas, schools, hospitals and more.  Your agent should offer you a block of time in which to view the options in housing that fit your needs and work within to your budget.  They will help you throughout the buying process and won’t stop searching until you have found the perfect home.  This process will go a lot smoother with the help of a professional agent verse going it alone.

Once you find a home within the pre-approved amount from your mortgage lender and within your specifications it is time to make an offer on the home.  Don’t try to time the market because while you are waiting for a lower rate another buyer is swooshing in to purchase the home of your dreams.  Your agent, along with help from local mortgage brokers can work with you to decide upon a reasonable offer to make including the items that were found in need of repair within the initial inspection.

After this is done and the offer is presented negotiations may begin.  Once an offer is accepted the legal procedures are started and this eventually leads to you and home ownership.

Cross Country Mortgage in Brighton, Michigan provide mortgage services for clients including new home loans, refinancing, reversed mortgages, new purchase home mortgages and home equity loans to the entire Livingston County area including Brighton, Howell and Livingston County. Cross Country Mortgage Brighton, MI at http://brightoncrosscountry.com/.

Brighton Cross Country Mortgage

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