Kat Geralis Home Team Wilmington DE Real Estate News Archives

Blog

Displaying blog entries 1-3 of 3

Delaware and Southeastern PA New Construction Home Costs After the Closing

Thursday, May 11, 2017
by Katina Geralis

As a buyer in Delaware or Southeastern Pennsylvania, it is essential to consider all costs association with your new home. Everything from maintenance to renovation, repairs and closing costs should be factored in to ensure that you do not have any surprises or worries down the road. But if you're purchasing a new construction home in the Greater Wilmington area, it's also important to be aware of the costs you'll have after the closing.

Below are four costs you will have after the purchase of your new construction home in Greater Wilmington, Chester County or Delaware County PA: 

Utilities
Yes, all homeowners will have utilities to factor into their budget, but if you're moving up to a larger home, you will need to research how much more yours will cost. If you're relocating to Delaware or Pennsylvania, you may also have a deposit or set-up fee for installing new services like cable or bringing in new equipment that may have already been in place in an existing home.

Window Coverings
Remember that when you purchase a new construction home, you are the first owner! There are no window coverings to work into your offer. You will want to take measurements of the windows and note how many when adding up your costs. Plus, it's key to start early as lead time for receiving new window coverings could take longer than expected, leaving you with no privacy upon move-in!

Appliances
With some builders, you will be able to work an appliance package into the overall purchase price of the property. However, that is not always the case! After you've inquired with the builder about what is and is not included in the price, it's time to sit down and decide all of the appliances you will need and how much they will run you. You will want these in place on your move-in date!

Landscaping
You've probably been dreaming about the interior of your new Delaware or Southeastern PA home and as a result, the exterior has not even crossed your mind. Landscaping outside of your new construction home may look pristine, but is the backyard on the same level? Make sure you know if the landscaping will be finished by the builder or if that is an additional cost for you. What's more, if you will live in a homeowners' association, note if there is a timeline to have landscaping completed. 

Does a new construction home feel like the best fit for you this year? Give the Kat Geralis Home Team  a call today for more information about available properties or how you can get started on your home buying journey!

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

How to Buy a Delaware or Pennsylvania Home in 5 Steps

Thursday, March 30, 2017
by Katina Geralis

Spring has sprung and as you read this, dozens of Greater Wilmington and Southeastern Pennsylvania residents are contemplating buying a new home. In fact, spring is the time of year when the real estate market begins to really heat up and buyers descend upon local homes for sale! However, if you're a first-time buyer this year or are feeling overwhelmed by the process, don't worry! It may be best to break it down into simple steps, so you too can take advantage of this exciting time.

You can count on the Kat Geralis Home Team to clarify any questions you have about buying a home in Delaware or Pennsylvania and simplify the path to homeownership. Below are five steps to get you started as a homebuyer: 

1. Find an agent
Your first step on the path to homeownership should be finding an expert you can both trust and feel comfortable with. This is one of the biggest financial decisions you will make in your life, so don't be too quick to choose just anyone.

2. Find a lender
One of the initial steps to buying a home is getting pre-approved for a mortgage and ultimately, applying for the loan. If you do not already have a lender in mind, your real estate agent is a wealth of resources! Ask them for a recommendation in order to find out how much home you can afford.

3. Groom your credit score
Start as early as you can on your buyer preparations as your credit score may need some time to clean up. Avoid taking out any additional lines of credit, be careful not to make late payments, and if possible, pay down your high interests debts first.

4. Make a wish list
Knowing what you need in a new home is key! However, be sure you can distinguish this from what you want. You may need to make compromises in your home search according to your budget, so know what you are willing to let go and what you absolutely have to have to fit your lifestyle.

5. Search for properties
Once you've met with a lender and have been pre-approved, you will know how much you can afford in a new home. Stay within those parameters to avoid falling in love with a home out of your budget, but now you can begin to search for your dream home!

Don't know where to start, but want to buy a home in Greater Wilmington or Southeastern Pennsylvania? Give the Kat Geralis Home Team a call today! We've helped numerous buyers become homeowners and we are happy to help you do the same.

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

Why Now Is the Time to Buy Your Delaware or Pennsylvania Dream Home

Thursday, May 12, 2016
by Katina Geralis

While we are all eagerly awaiting the start of summer in Greater Wilmington and Southeastern Pennsylvania, now is the time to finally consider moving up to your dream home. The current market conditions have created the perfect environment for DE and PA buyers to make a move, especially as they are not expected to last for the rest of the year.

If you've been thinking about buying a larger home this year, here are three reasons to consider moving up now instead of waiting:

Prices will continue to rise
You may have noticed around Wilmington, Newark, Chester County and Delaware County that home prices are on the rise— and they are not expected to slow down any time soon. According to a new report, home values are predicted to appreciate by 5.3 percent just one year from now. If you have a home to sell in Delaware or Pennsylvania, now is the time to list or you could risk pricing yourself out of your potential dream home.

Mortgage rates are at historic lows
To the benefit of DE and PA buyers, mortgage rates—now hovering below 4 percent—have not been this low in years. It is important to keep in mind that any rise in rates will have an impact on your future mortgage payment and therefore, it is better to act while they are still at historic lows. In fact, Fannie Mae, Freddie Mac, the National Association of Realtors and Mortgage Bankers Association are predicting a rate hike over the next year, so don't wait!

Inventory is low, but traffic is high
Housing inventory is much lower than it has been in the past, but that does not mean there is any shortage of buyers in Greater Wilmington and Southeastern Pennsylvania. Buyer demand is said to be at its highest peak in years, with the number of home sales in March (sold in under 30 days) higher than any month since last July. Listing your home now to move up to your dream home could allow you to sell quickly and settle into your new property before you know it.

The KG Home Team is consistently ranked one of the top Realtors in the state and we are here to put our experience to work for you! Contact us today to discuss selling your current home and available properties in Delaware and Pennsylvania.

We look forward to hearing from you!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives

Kat Geralis Home Team Real Estate