buying a home

Top 4 Most Overlooked Things When Buying a Home

Buying a home is the largest investment most people will ever make, and so it stands to reason that most home buyers focus primarily on the purchase price. They also like to imagine how their furnishings will fit into the home and how the house suits their current lifestyle. These are all huge considerations, but they are by no means the only issues you should think about when you’re looking for your dream house. Here are some top things to keep in mind:

The cost of repairs

Many first-time homebuyers underestimate the amount of money it takes to maintain a home. Older houses, in particular, are prone to needing frequent repairs. Whether it’s an old, damaged roof, a malfunctioning furnace, or a warped and weathered deck, the repairs needed to keep an older house in good condition can easily throw your budget off track.

If you’re buying an older home, be sure to set aside plenty of liquid funds to take care of emergency repairs.

Another option is to purchase a new, move-in ready home instead. If you purchase a new home, your roof won’t need replacing for at least a few decades, and all of the major appliances (along with everything else) will be new. The prospect of saving a lot of money on repairs is just one reason why many homebuyers prefer to purchase new construction houses.

The distance to transportation hubs

Location is crucial when buying a new home. In particular, consider whether the new home is close to major transportation hubs, such as interstates and airports. You’ll be glad later on when you find yourself running late and having to hurry to the airport to catch a flight.

The convenient proximity to major transportation hubs is one reason why many homebuyers choose to live in Wilmington, Delaware. For instance, Wilmington is only a half-hour away from Philadelphia! It’s a centrally located community that is close to train stations, Philadelphia Airport, and major interstates.

The walkability of the neighborhood

A walkable neighborhood is more important than you might think, and unfortunately, it’s something that many homebuyers don’t consider until after they’ve made their purchase. A home on a spacious lot in a walkable neighborhood will give you both privacy and recreational opportunities. Some essential features of a walkable neighborhood include wide open, green spaces, tree-lined streets, and amenities just a short walk away.

A growing family

Before making a purchase offer, consider your current living situation and how it might change over the course of the next decade or so. If you’d like to stay in the home for a while, consider whether you might want to grow your family down the road. It may be worth it to buy a bigger house than you think you need right now so that you won’t have to move again later.

Tour move-in ready homes in Delaware

If you’re looking for a beautiful, spacious home in a walkable neighborhood that is close to major transportation hubs, the homes for sale in Darley Green are a must-see! Montchanin Builders specializes in building neighborhoods with an old-fashioned neighborhood feel, with plenty of wide-open spaces and tree-lined streets. Call today to schedule a tour of our new homes in northern Delaware. Make sure to ask about our special financing offers!

Additional resources for home buyers:

Tips to Boost Your Credit Score Before Buying a Home

If you’re considering buying a home, then it’s only natural to think about your credit score. As you look at move-in ready homes in Delaware, keep in mind that having a less-than-perfect credit score doesn’t mean that you will not qualify for a mortgage. However, there are also some steps that you can take to improve your credit score before you begin seriously looking for a home. Here are some actions that can help to boost your score.

Check Your Credit Score for Mistakes

There are three major credit bureaus that issue scores: Equifax, Experian, and TransUnion. You are entitled to one free report from each of them every year, so it’s a smart idea to request one from all of them. Then, review your report carefully. If you see any mistakes, then dispute them by sending a letter to the credit bureau explaining and documenting the error and requesting that they remove it.

Settle Any Past-Due Debts

If you have any past-due accounts, then make sure that you pay them off as soon as possible. For example, if you have missed the due date on a credit card payment, then pay it immediately. If possible, you should also try to pay as much on your credit card debt balances as possible. It’s generally recommended that you not have a credit card debt of more than 30% of your credit card limit.

Pay All of Your Bills on Time

Keeping current with your bills is a simple task that can easily improve your credit score. When you make a late payment, it has a negative impact on your score. If you get into the habit of making late payments, you could start to see your score decline. Setting up automatic payments for your debts, such as rent, utility bills, and credit card bills, can help to ensure that you don’t go late on any of your bills.

Don’t Close Existing Credit Accounts

Many people assume that the best way to avoid accumulating an excessive level of credit card debt is to close their credit accounts. In fact, having a credit account—even an inactive one—helps your credit score by demonstrating your credit history. As long as you are responsible and avoid amassing too much debt, there’s nothing wrong with having credit accounts.

Buy Your Dream Home!

If you’re on a quest for the best new homes in northern Delaware, don’t miss the stunning townhomes and condos at Darley Green. These gorgeous new-construction homes offer fantastic amenities, scenic beauty, and a readymade neighborhood community. They are also conveniently located within walking distance of shops, restaurants, a library, and train station.

At Montchanin Builders, we are committed to helping our buyers find their dream homes. That’s why we work with Cardinal Financial, one of the nation’s leading mortgage lenders, to make the financing process run as smoothly as possible. If you would like to learn more, then get in touch with us today. We will be happy to schedule a tour of our our move-in ready homes and community; so that you can see for yourself why Montchanin Builders at Darley Green is the place to be!

Additional Resources:

  1. Realtor.com, How to Improve Your Credit Score Before You Buy a House, https://www.realtor.com/advice/finance/boost-credit-score/
  2. Investopedia, How to Improve Your Credit Score, https://www.investopedia.com/how-to-improve-your-credit-score-4590097