Loft Buying Tips for Unmarried Couples

28 Jul 2017 · by Virtual Results PubSub

Home Buying Tips for Unmarried CouplesWhether you’re planning to walk down the aisle in the future or not, buying a Loft with your significant other without being married can be a tricky situation. Nonetheless, more and more couples are opting to do just that as rental prices throughout the country skyrocket. In fact, one in four millennial couples between the ages of 18 and 34 have recently purchased a Loft together before marriage.

Even if it makes financial sense, buying a Loft with a partner is one of the biggest – if not the biggest – transactions you will ever make. Keep yourself from potential problems down the line by following these important tips.

Know each other’s financial history

Buying a Loft is basically a business transaction, which makes your significant other your business partner. You wouldn’t enter into a business deal without knowing the financial strengths and weaknesses of your partner, would you? The same applies for you Loft purchase. If you’ve put off discussing your personal finances, now is the time to do it. Share your credit history and credit score with each other. Even if one person has excellent credit, it’s the lower score of the two that will determine what kind of loan you qualify for and the interest rate you receive.

Decide how to handle costs

If you are both listed on the mortgage, you are both equally liable for that debt. Even if the other person walks away, you’re still on the hook. Will you be able to afford payments on your own? You may want to consider only taking out a Loft loan that you can reasonably afford with just your income.

In addition, have a candid conversation about who is going to pay what. How much will each of you contribute to the down payment? Who will pay the mortgage, taxes and utilities? How will maintenance costs be shared? You may want to consider opening a joint bank account from which all common bills can be paid. Discuss how much each will deposit into the account monthly.

Have something in writing

We all want to believe that our story will have a happy ending – but that isn’t always the case. While it can be an uncomfortable conversation, you should put in writing what will happen should your relationship end. Talk through possible scenarios such as what happens when one person loses a job or dies. Come to an agreement on how you would like to handle each situation and put it in writing in a legal document. This will help avoid costly litigation down the road.

Consider your title options

You and your partner can either hold title as joint tenants, where the property is owned equally and full ownership is transferred to the other upon death. Or you can hold title as tenants in common, where ownership does not automatically transfer if one person dies. This is a good option for those who may have kids from previous marriages and want to designate a certain percentage of the Loft’s assets to their beneficiaries.

Buying a Loft can be complicated — doubly so if you are buying as an unmarried couple. Follow the tips above and enlist the help of a real estate professional with expertise in this area to help guide you through the process.

10 Signs That It’s Time to Move

21 Jul 2017 · by Virtual Results PubSub

10 Signs That It’s Time to Move

While moving can be a real drag, sometimes it’s obvious that it’s time to go. A move can be just the thing you need to jumpstart your life and invite positive change. If you’re unsure whether or not you’re ready to take the plunge, here are 10 signs that now is the time to relocate.

  1. You’ve outgrown your space

Have you resorted to renting a storage unit, even after you’ve de-cluttered your Loft with the KonMari Method? Then it may be time to upgrade to a bigger space. Wouldn’t it be nice to have some room in your closets and cabinets again?

  1. Your finances have changed

Are you making significantly more or less money than you were when you moved into your current space? If you find yourself with nothing to spare at the end of the month – or much more than you know what to do with – then you might want to consider moving into a Loft that is more in line with your current financial situation.

  1. Your family is growing

Are your kids getting tired of sharing a room – and there’s another one on the way? Or maybe it’s time to start a family and you’re not happy with your current school district. Either way, a growing brood is a good indication that it could be time to move into a Loft that is more family-friendly.

  1. The Loft feels empty

Are your kids off to college, or grown with their own families? Do you suddenly find you have more rooms than you know what to do with? Why not downsize so you have less to take care of?

  1. The neighborhood has changed

Are crime rates going up?  Are there more empty Lofts or yards that aren’t being maintained? Sometimes neighborhoods change. If you don’t like the way it’s heading, it could be time to go.

  1. You hate the weather

Those snow days were fun – at first. Now hauling out the snow shovel every few days is getting to be a bummer. If you find yourself pining for sunny days and warmer temperatures, it might be time to relocate to a more temperate climate.

  1. Your commute is wearing on you

Studies show there is a direct link between commuting time and happiness levels. If you’ve found your good mood waning recently, think about moving closer to your job.

  1. You’re in a new relationship

While we wouldn’t recommend moving every time you meet someone you like, there are moments when you know you’ve found the person you’d love to spend the rest of your life with. If your current place is too far away from them, it makes sense to move closer.

  1. Your Loft needs work

Are you getting tired of making trips to the Loft improvement store every weekend? Is your to-do list getting longer instead of shorter? Then maybe it’s time to give your wallet and your free time a break with a new place that requires less maintenance.

  1. You like the idea of a fresh start

Sometimes there aren’t black-and-white reasons to move. Maybe you’ve just gotten the itch to explore a new place, to expand your horizons. And that’s perfectly okay. If your intuition tells you that it could be fun to move on, then now may be the perfect time for a new adventure!

Seller’s To-Do List

14 Jul 2017 · by Virtual Results PubSub

Seller’s To-Do ListAre you getting ready to sell your Loft? If you are, then you may be feeling overwhelmed by the number of tasks ahead of you. While selling your Loft is a big job, you can make it easier by taking it one step at a time. We’ve put together a simple to-do list that outlines what you’ll need to do as you prepare to sell your Loft.

Determine your needs

As you make the switch from thinking about selling to actually listing your Loft, take the time to determine your needs. Where do you want to be in a few years? What is your local housing market like? How quickly do you need to sell? Will you buy or rent a new Loft? Knowing the answers to these important questions will help you and your agent determine your Loft selling strategy.

Make small repairs

Go over your Loft in detail and determine if there are any small fixes you should make before you sell. Think like a buyer. If you were buying a Loft, what might stand out to you? This could include replacing faulty light fixtures or repairing holes in the wall.

Find an agent

Selling a Loft can be a complex process, and working with a real estate professional can help alleviate some of the burden. Get recommendations for local real estate agents and interview a few of them. Choose an agent who has expertise in your local market and with whom you feel comfortable.

Set a price

Research the market in your area and look for Lofts similar to yours that have sold recently. Using these comps, work with your agent to set a realistic selling price for your Loft. Take into consideration how quickly you need to sell or if you have time to wait for the best possible offer.

Prepare your Loft for showing

If you haven’t already, now is the time to clean and de-clutter your Loft. Remove bulky furniture and personal items. Thoroughly clean everything and consider repainting rooms with a neutral paint color. Do maintenance in the yard to increase your curb appeal, keeping in mind that first impressions are very important in real estate. Keep your Loft clean and fresh and ready for showings at all times.

Advertise and market your Loft

Now that your Loft is ready for listing, talk with your agent about a selling strategy. Where will your Loft be listed? Consider creating a website or Facebook page, and spread the word to family and friends.

Review offers

Talk with your agent about having a plan in place should you get multiple offers. Review all offers that are made and be ready to negotiate.

Prepare for escrow

Once you’ve accepted an offer, work with your agent to get through the escrow process. This will include choosing escrow and title companies and preparing for the inspection, appraisal and final walk through. Be ready to make any necessary repairs. Make a plan for moving out.

While selling your Loft can be an intimidating process, it’s less stressful if you know what to expect. Use the to-do list above to help ensure that your Loft sale runs smoothly and ends with a deal that both you and the buyer will be happy about.

4 Common Types of Loft Loans

7 Jul 2017 · by Virtual Results PubSub

4 Common Types of Home Loans

Unless you’re planning to pay all cash, if you’re shopping for a Loft then it means you’re also shopping for a mortgage. Depending on your personal situation, some mortgages could be a better fit for you than others. Knowing which loan is the best choice for you can save you money down the line, so it’s important to be knowledgeable about what’s available. With that in mind, let’s take a look at four of the most common types of Loft loans.

Conventional Loan

As you can probably tell by its name, a conventional loan is the most common type of Loft loan. A conventional loan generally offers the best rates and terms and the lowest monthly payments. This type of mortgage has fewer requirements because it is not part of a government program, like the other loans on this list. Since it represents a greater risk, lenders usually require that borrowers make a sizeable down payment, have a steady income and a good credit score.

Who it’s for:

Conventional loans are a great choice for buyers who have saved up the money for the down payment and meet the other requirements outlined by the lender. If you find you’re in this position, be sure to shop around for your loan, as rates and fees can vary widely by lender.

FHA Loan

FHA loans are backed by the Federal Housing Administration, which is managed by the Department of Housing and Urban Development (HUD). These types of loans are insured by the government should a buyer default on the mortgage. The down payment for an FHA loan is 3.5 percent, and borrowers with less-than-perfect credit may still qualify. However, you will be required to purchase mortgage insurance, which will increase the overall cost of the Loft.

Who it’s for:

FHA loans aren’t just for first time Loft buyers. Anyone can take advantage of this loan program, and it’s great for those who don’t have a sizeable down payment saved or who have lower credit scores.


USDA loans are available for buyers who live in rural areas. These loans are financed entirely by the government, which means no down payment is required. USDA loans also offer lower interest rates, but buyers will be required to purchase mortgage insurance, like with an FHA loan.

Who it’s for:

USDA loans are for properties in eligible rural areas, and borrowers must meet certain guidelines for their household income.

VA Loan

Finally, Veterans Affairs (VA) loans are available for those who have served in the military. Borrowers can secure these loans with no down payment and unlike FHA and USDA loans no mortgage insurance is required. There are strict guidelines about the type of Loft that can be purchased, and it must be your primary residence.

Who it’s for:

Veterans must meet minimum requirements for length of service in order to qualify for a VA loan. Spouses of those who died during service may also qualify. A certificate of eligibility will be required, although in some cases the lender can secure it for you.

How To Be a Good Neighbor During Renovations

5 Jul 2017 · by Virtual Results PubSub

Whether you’re renovating a Loft you just purchased, or you’re sprucing up your Loft in preparation to sell, there’s no denying that renovations can be a big job. And those big jobs can often cause big headaches, for both you and your neighbors. If you’re getting ready to start in on some serious renovations, here’s what you should do to keep the peace in your neighborhood.

Know the rules

Once you’re ready to begin your project, you need to first know of any bylaws applicable to your area. This can include regulations regarding noise, traffic and parking – all of which affect your neighbors. You’ll likely have restrictions on what times of day work is allowed. Be sure to follow them, or risk potential ire from neighbors who are being disturbed.

Get the proper permits

If you want to stay in the good graces of your neighbors, be sure to apply for and receive all the required permits for the work you’re doing. While getting permits can sometimes be a headache, it’s important to be on the up and up with your construction project — especially if you’re getting ready to sell your Loft.

Communicate your plans

Once you’ve secured your permits, it’s time to let your neighbors know your plans. You should definitely alert all of your neighbors who are in the immediate vicinity and may be impacted by the work. Let them see your finalized plans, particularly if your project requires demolition or a major addition. This will help your neighbors visualize and understand the work that will be happening. Let them know when work is beginning and expected to end, and take into consideration your neighbors’ schedules and lifestyles. Do they leave early for work? Do they work from the Loft? Do they have kids? Be sensitive to how your project will affect them.

Manage the work crews

While the work is happening, be sure to be in contact with your contractors and their teams. Know when they will be coming and going, especially if you’ll be living off site during the process. Make sure their equipment isn’t blocking the garage, ask that they keep the worksite clean and insist they follow all the local bylaws and regulations.

Have a plan for complaints

No matter how well you plan, things don’t always go as expected. You may get some complaints from neighbors along the way. Make an effort to respond to any reasonable complaints. If anyone is being unreasonable, you can refer them to the appropriate person in the city planning department – provided you are indeed following all the building requirements.

Don’t forget to say “thank you”

Once your renovations are complete, don’t forget to say “thank you” to all your neighbors. They will be just as happy as you are when the project is finished, and they deserve to be recognized for their patience and tolerance during the process.

Remember, renovations make last a few weeks or a few months, but your relationships with your neighbors can last for years. By being a good neighbor during the renovation process, you can help ensure you’ll have good standing in the neighborhood for the long term.