Also, there are red flags if the house is really not at its best and is just covered up by “paint” to hide imperfections.

Related: How To Buy A House

There might be a lot of questions in your mind when deciding to buy a home. Questions like when and where you can find the greatest deals, the best location, and even the ideal design that you want. In this case, consider getting help from Real Estate Virtual Assistant for Investors.

Real Estate VAs (REVA) are very savvy when it comes to online research. They can also set up your appointments; book or schedule open houses, handle incoming/outgoing calls, and screen property sellers.

Before we go into details…

Here are 5 general aspects that a home buyer should examine during the home buying process:

1. House Size – if possible, avoid buying the largest house in the neighborhood. If you choose to buy a small-medium house, the larger homes will help raise your home’s value.
2. Kitchen – a house with a larger kitchen is a great asset. It’s better if the family room is close to the kitchen as well. Easy access to the back yard is also desirable, as there will be some time for barbecues and outdoor entertaining.
3. Bedrooms and Bathrooms – look for houses that have one bathroom that shared by the other bedrooms or is accessible to guests; and one for the master bedroom. Also, sticking to three to four bedroom houses will give more potential buyers when it comes time to resell.
4. Storage – closets, garages and laundry – make sure there is plenty of space. It should be a short trip between the garage and the kitchen so that bringing stuff in from the car does not become too big of a burden.
5. Lot and Landscaping – the lot is as level and rectangular as possible. Try to stay away from odd shaped lots or oddly situated lots. Also, there should still be a decently sized front and back yard.

Buying a house? These features might help with your decision-making.
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Home Features and Red Flags

• Smells – There are a lot of factors to consider when you smell something or foul odors like putrid garbage smells, gas and other filthy stench.  Also, don’t be fooled by good smells, why? Because, the agent or homeowner is trying to hide something like the one mentioned earlier. Alert not only your sense of sight but also your sense of smell and start sniffing on that house for red flags.
• New Paint – Ok. We just mentioned about smell. What about a newly painted house or wall?  Well, it’s not always a basis though, but can raise the red flag as it can and does mask and disguise something bigger that again, real estate agents and homeowners doesn’t want you to know. Molds are one of the reasons to cover up a wall by paint with the intention to mislead the new buyer. And yes, another reason to raise the red flag.
• Fireplaces – When buying a house, you have to consider the features that are beneficial to you and your family. Fireplaces can be attractive and gives you that warm feel during winter but it can give you a lot of headache too, especially if they’re old. Check the chimney for cracks before deciding on a house with a fireplace.
• Built-In Mirrors – Mirrors can be attractive to some homeowners but it’s actually an outdated style. One factor that you should consider aside from the cost (as they can really break your wallet) is the safety once it gets broken and the difficulty to remove from the wall. This needs the help of a professional installer or carpenter and not the usual DIY thing.Again, a Virtual Assistant Company can provide a real estate VA who can help you look for properties online and setup appointments. The VA can make calls, screen the sellers, and take note of important details.
• Wall-to-Wall Carpet – When you see a carpet all throughout the house, this might mean that you have to shell out a substantial amount if you don’t like the color or design and want to replace it or more, after checking what’s underneath that thing.
• Doors and Windows – The door is the main entrance to a house and windows to see the beauty of the place. Give extra time to check if doors close properly and windows open without any glitch. Remember, these features are your family’s security.
• Foundation – If the property’s foundation is weak, then be wary of the problems this may bring you. Thoroughly check each corner of the house for sags, cracks and others that you may think is a red flag. Drywall, plumbing, framing, and flooring are the first details to be affected when foundation woes happen.
• Maintenance – The last thing that you would want to consider is how the previous homeowner maintained the house. From the roof, exteriors, walls, paints, interior, and everywhere else. Just go around, take your time to discover those little “something” like crack walls, holes on the roof, and more that may lead to trouble and can eventually cost you more than the cost of the house itself.

It is important to pay more attention to details before buying a house. Hope these tips will help you in your search for the right house with the best features. Good luck!

Your house may just be the answer. If you have a house with some equity, you may be able to utilize it to hike up your retirement income. Even if you have more than enough in savings and Social Security to fund retirement, you never know what happens in the future and it never hurts to expand income flows.

Related: 10 Ways Virtual Assistants Help Expand Your Real Estate Business

5 House Uses to Bring about Retirement Income

1. Sell and downsize – If you think your house is too big for you and your family and the money spent on expenses managing and keeping up your house is overwhelming then consider selling your house and downsize.Invest the proceeds into a house that is just enough for you and your family without of course compromising the comfort you are used to. A real estate va can post ads on Craigslist or any site online to help you find buyers and sellers.
2. Rent it out – If you don’t want to be a homeowner anymore then the best thing that you can do of course is rent a house. In renting a house, you don’t have to worry about fixing a leaking roof, a broken window, a doorknob and etc.  Be sure to rent an apartment that is just enough for you and with reasonable rate.
3. Tap into your equity – This is practical only if you are covering expenses for the time being that you know you can fully pay back in a quite short term.
4. Get a live-in renter – If you have extra rooms in your house and you find it comfortable living with a stranger, then have a live-in renter. Renting out your extra room that you are not using will give you additional income and you can save it for your retirement.
5. Consider a reverse mortgage – Borrow against the equity in your house and when you are able to sell your house, pay it back.

According to the survey, downsizing draws more interest but the least advantageous in terms of turning home equity into cash. Selling and renting was the second most favored pick, but with only 24 percent support in the survey.

While looking for more ways to tap your house for retirement income, hire a virtual assistant to do the following tasks:

•  Handle incoming and outgoing calls
•  Promote your properties
•  Screen or interview buyers and sellers
•  Place Craigslist ads
•  Fill out questionnaires
•  Creating and distributing flyers or videos of your properties for sale

If you’ve saved pretty well for retirement, then you deserve the glory of deciding what to do with your home based on your lifestyle. If not, then it’s time to get real about your house. It may be a hindrance to a financially secure retirement.

Source: the globe and mail

Related: Home Features and Red Flags You Should Check When Buying A House

Tips to Buy a Home Fast

• Work and out how much you can afford to buy your dream house – What you can afford really depends on your earnings, current monthly expenses, credit score, down payment that you can only afford and the interest rate.
• Check your credit report and your credit scores – Before you start shopping for a home to give yourself time to fix any mistakes you find. You can check your credit reports for free once a year from each of the three major credit reporting  companies. This way, you are able to strengthen your credit.
• Get preapproved – Get preapproved and not just prequalified to get the actual cash you can pay. By doing so may even have an edge over a cash buyer who may be offering less cash.
• Work with professionals – Work with real estate and mortgage professionals who have a track record of good standing and meeting deadlines. Don’t be scared to ask for references.
• Protect yourself –  No matter how much you love the home and the place, your offer must be determined upon a satisfactory home inspection, so you aren’t pinned with a house with unknown problems.
• House shopping –  When shopping for a house, don’t just see one property. Check the area for schools nearby if you have kids, recreational area like parks, the community and neighborhood and more.
[Tweet “Shop at least 3-10 properties before you set your heart to what you really want.”]
• Get a home inspection – Before you finalize your decision to buy your dream house, make sure to have a thorough house inspection so you are aware of some damages in the house, if any. Request the following survey reports: inspection, hazardous materials, earthquake faults, flood plains, pests, dry rot, rodents and crime statistics.
• Make an offer – an earnest money is advisable when offering. This means you are committed on buying the house or you lose your deposit, unless you do not get the final mortgage agreement.
• Sign papers and seal the deal – Sign and seal documents related to the property and the mortgage agreement from your real estate agent.

Be aware of the following:

1. If a seller won’t allow a home-inspection, he or she might have something to conceal and cover up. Professional virtual assistants for real estate can make some outgoing calls to sellers and schedule appointments for you to properly inspect the house.
2. Some people say this is a good time to buy a house as prices are low but others say it’s a bad time to enter the housing market. It is strongly recommended to discuss and take into consideration all advice before buying at this time especially from real estate experts.
3. Be wary of a real estate agent who is on a rush to sell a property. They might know of a portentous event like a market crash. Try to look for any peculiar offers agents provide.

Recently recorded low interest rates have played a significant role in keeping the cost of borrowing low and plunging down monthly mortgage payments.

Related: How to buy a house

Here are the experts’ take on whether to buy or rent a house.
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BUYING

1. Location – it is imperative that you dig into the date into your local market. It is also wise to take into account the price of a down payment, purchase costs, and utility and maintenance fees in different cities.
2. Longevity –ideal to buy a house if you plan to live in an area for fewer than three to five years. If you buy a house and sell it within a couple years, you will not see the return on your investment.
3. Maintenance –Be aware that when you buy a house you also need to be ready to pay higher insurance and maintenance costs on a home.
4. Upfront Cost – Homeowners require 20% of the cost of the house as down payment.
5. Return on Investment – Home prices are on the hike and housing inventory is the lowest in years, showing that real estate is in high demand. This is a step in the right direction if you become a homebuyer and desire to sell at the right time.

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Buying a house will give you ROI–something you will never see as a renter.
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RENTING

1. Location – It is really tempting to buy house specially that banks are offering low interest rates. Again, think twice if you are really in the position to buy a house otherwise just rent if it is what you can only afford.
2. Longevity– It is wise enough to rent instead of buying a house if you can only commit to staying in the same spot for a year or two.
3. Maintenance 

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   If you’re not ready to shell out from your pocket when your water line leaks, then by all means, RENT.
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4. Upfront Cost – If you can’t afford the upfront cost of buying a house, all you can do is rent. It’s the best alternative for someone who is on a tight budget.
5. Return of Investment – When renting, there is no chance you will get back the rent you put into an apartment.

Deciding whether to buy or rent a house is one of the biggest financial decisions in our lives as adults. When the time comes, you can outsource to virtual assistants to look for properties online that are suitable for you and your lifestyle.

Now that you have read some advantages and disadvantages, consider these three general questions before deciding:

•  How long do you plan to stay?
•  What is your financial status?
•  What does the future hold?

Also, to help you out with costs estimation, here is a link to buy or rent calculator.

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