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5 Hidden Costs of Owning a Home in Delaware and Pennsylvania

Thursday, February 14, 2019
by Katina Geralis

Owning a home in Delaware and Pennsylvania definitely comes with its perks— from tax benefits to free reign on design and everything in between. But if you're making the transition from renter to homeowner this year, it's important to note that there may be a few home-related costs that you didn't plan for or even know about before you began house-hunting.

As your local real estate experts in Delaware and Pennsylvania, you can count on the Kat Geralis Home Team to make sure you are prepared for every aspect of homeownership— including the following hidden costs:

Property Taxes
When you use a mortgage calculator prior to buying a home in Delaware or Pennsylvania, it is essential that you input estimated property taxes. You can typically find this amount on any listing, or ask one of our real estate experts to help, so you can see how your monthly payment will change adding them in.

Insurance
Homeowner's insurance will vary depending on your home, your pets, your neighborhood, and a host of other different factors. Research average costs in your area and add them into your potential monthly mortgage payment to avoid any surprises down the road. 

Yard Upkeep
If you're currently renting in Delaware or Pennsylvania, you likely do not have to deal with the yard upkeep or maintenance. Once you become a homeowner, you will be responsible for buying all of your own tools, including snowblowers, lawn mowers, shovels, and rakes. Not to mention, the time you will need to free up to keep your yard looking well-manicured in every season!

HVAC
Furnaces and air conditioning units can be a major cost that homeowners do not account for when buying a property. For instance, if you don't have a home warranty, and your furnace breaks down, only you are responsible for covering the repairs or replacement which can cost you thousands! It's best to begin saving for a rainy day fund at the start of your homeowner journey to prepare for things like this, or even small expenses like replacing furnace filters every month or so.

Utilities
As a renter, you were likely used to much smaller utility bills than you will have as a homeowner in Delaware and Pennsylvania. Once you've found a home you're interested in, you can ask the previous homeowner for the average utility costs in order to factor them into your overall budget and avoid surprises later.

Ready to make the move to become a homeowner in Delaware or Pennsylvania? Give our experts at the Kat Geralis Home Team a call today! We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
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4 Mistakes to Avoid When House Hunting in Delaware and Pennsylvania

Friday, September 28, 2018
by Katina Geralis

While you may have seen dozens of real estate reality TV shows that make it look as simple as touring three homes and then choosing the best one, there is so much more to house hunting in Delaware and Pennsylvania. In fact, there are a few rules of thumb to follow in order to avoid any buyer's remorse or financial obstacles down the road.

As your local real estate experts in Delaware and Pennsylvania, the Kat Geralis Home Team has put together four mistakes to avoid when house hunting this year to make your experience as smooth as possible:

Don't Skip the Pre-Approval
Working with a lender on your mortgage pre-approval should be your first step in your DE or PA home purchase process. In the event that you find a home you want to pursue, a seller will likely not entertain any offers without a pre-approval. This step shows the seller you are serious about buying and can give you an edge over other buyers who may not have a pre-approval completed.

Don't House Hunt on Your Own
There are many perks to working with a real estate agent, so don't make the costly mistake of going it alone this year! Remember that your agent has done this before and knows the in's and out's of crafting the perfect offer and corresponding with all necessary parties in a transaction. Navigating a home purchase alone can be a full-time job in itself— why not leave it to the pros?

Don't Wait Too Long to Act
If you see a home in DE or PA that you love, don't wait! Buyer demand has been strong over the past few months and it hasn't slowed down yet! You won't want to let your dream home slip through your fingers because you waited a week to get in for a showing. Work with your agent to make sure you are timely in viewing the property and writing your offer if you've found "the one!"

Don't Get Distracted by Home Features
When you tour a home, it can be easy to get distracted by updates like new appliances, light fixtures, and even trendy items like sliding barn doors. But don't get too carried away! It is important to envision how you and your family will live in the space— does it have enough bedrooms? Are there enough bathrooms? Does the layout suit your needs? Is there enough outdoor space? Home features like lighting and hardware are simply decorative, while major structural components like layout and square footage will affect your daily life and are what you will need to focus in on.

Ready to buy a home in Delaware or Pennsylvania but don't know how to get started? Contact our team of local experts today! We will walk you through every step in the process!

We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

5 Things Not to Overlook When Buying a Delaware or Pennsylvania Home

Thursday, July 6, 2017
by Katina Geralis

When shopping for a home in Greater Wilmington and Southeastern Pennsylvania, you likely have a long list of must-haves to check off of your list. Examining everything from the number of bedrooms to the yard size becomes a priority and it is easy to overlook other important features like the resale value or even your commute time. 

As your local real estate experts in Wilmington DE and Newark DE, the Kat Geralis Home Team has included five things you will not want to overlook as you prepare to buy a home this year:

Resale value
Even though you're looking at homes for right now, it's important to look ahead for the purposes of resale value. If there is a feature of the house that doesn't bother you, but may bother another homeowner, you will want to decide if you're willing to fix it (and the costs) or if it will potentially affect your resale. 

Neighborhood at night
You may love the neighborhood a certain property in Greater Wilmington DE is in, but what about what the area looks like in the morning or at night? What is the noise like once everyone is home from work and school? Is there more traffic noise at a specific time you will need to consider? If you're interested in a home, visit at all hours of the day to get a good idea of what you'd be buying into.

Commute time
Buying a home in a new location of Chester County or Delaware County PA means the distance to your workplace may be longer. Before you jump into the mortgage application process and commit to a new property, factor in how long it will take you to get to work each day.

Bedrooms to bathrooms
The number of bedrooms in a new home in Delaware or Southeastern Pennsylvania is likely one of the first things you check for, but you'll also want to look into the number of bathrooms. Many bedrooms and one single bathroom could be problematic for families— or if you host guests often, you may want a powder bath available to keep your own bathroom private.

Room to grow
As I mentioned above with resale value, homebuyers should always be thinking one step ahead. Consider how much space a potential home has for your growing family or if you may need more storage in the future. The last thing you want to overlook is a lack of space and find you have to move sooner than you had hoped.

Give the Kat Geralis Home Team a call today for more information about homes for sale in Greater Wilmington Delaware or Southeastern Pennsylvania!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

 

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