Historic homes are an integral part of Brookly’s landscape. Founded in the 17th century, the borough is rich in architectural and cultural heritage.
Within each neighborhood, you’ll find an abundance of historic homes that span various architectural styles and periods, reflecting the diverse history of the area. This legacy has also made Brooklyn a hotspot for people who appreciate and value historical architecture and the unique charm it brings.
The cultural significance of many homes and the strong sense of community pride in preserving the borough’s heritage is the catalyst behind the renovations of many historical properties.
Renovating a historic home can be a rewarding yet challenging endeavor. Anyone who has renovated a home, historic or otherwise, will tell you it is a big undertaking but one that is incredibly rewarding.
Historic homes in Brooklyn often come with unique architectural features and a rich history and when it comes time to renovate them, they often come with their own set of challenges due to the need to balance preservation with modernization.
That’s not to say one shouldn’t take on the renovation of a historical home. As long as you understand the challenges ahead of time, navigating through the process won’t be as difficult. In the end, the reward outweighs any of the hurdles it may take to get there.
Some of the common challenges faced in renovating historic homes include:
Regulatory Hurdles
Historic homes may be subject to strict preservation regulations which would require approval from local historic preservation boards. These regulations can limit design choices and add time and complexity to the renovation process.
According to the City of New York’s official website, owners of a NYC landmark or a building located within a designated NYC historic district, must receive a permit from the Landmarks Preservation Commission (LPC) before performing any type of work. Owners of these properties also need a permit from LPC for any work that requires a permit from the Department of Buildings (DOB). Before moving forward on any projects, do your homework to ensure all requirements are addressed prior to getting started in the renovation process. .
Budget Constraints
Home renovations in general can be costly. When looking to renovate a historic home, take into consideration the cost to restore certain aspects to its original features, the use of specialized materials, and compliance with preservation requirements, all which can significantly increase the project costs.
Aging Infrastructure
You may find outdated electrical, plumbing, and HVAC systems in a historic home. Updating these systems while preserving the home’s historical character can turn out to be complex and costly.
Hidden Issues
In many older homes (historical or not) you may find structural problems such as mold, termite damage, or lead paint. These issues can be challenging to uncover and address.
In addition, these types of issues drive up renovation costs. Make sure to have your home inspector look for any potential situations that will add additional costs on top of your home renovation costs.
Limited Modern Amenities
Historic homes often lack the modern amenities and space configurations that are desirable to many homeowners, such as open floor plans, larger bedrooms and bathrooms, en suites, and spacious closet space. Integrating these amenities while maintaining historical integrity can be tricky.
Despite the challenges, renovating a historic home can be rewarding because it allows homeowners to preserve a piece of history and create a one-of-a-kind home that reflects both the past and their personal vision.
Some of the rewards to renovating a historical home include:
Unique Character
Historic homes in Brooklyn often feature architectural details, craftsmanship, and historical significance that cannot be replicated in newer constructions. Owning a piece of history can be immensely rewarding.
Community and Aesthetic Value
The restoration of a historic home helps to maintain the distinctiveness of a neighborhood, making it more attractive. These areas often have a strong sense of community, and homeowners take pride in preserving the unique character and charm of the neighborhood.
Resale Value
Well-preserved historic homes tend to hold or appreciate in value over time, making them a potentially wise investment.
Tax Benefits
Some local governments offer tax incentives or grants for the restoration and preservation of historic properties, which can help offset renovation costs. In the State of New York, tax incentives for the rehabilitation of historic commercial and residential properties, and historic barns are available. Certain qualifications apply so be sure to do your research before moving forward with any renovations.
Personal Satisfaction
Restoring a historic home can be a labor of love, and many homeowners find immense satisfaction in bringing an older structure back to its former glory.
Despite the challenges that may arise when taking on a historic home renovation, many homeowners find the rewards of preserving and renovating historic homes to be worth the time and effort. The unique character, historical significance, and the satisfaction of breathing new life into an old structure often outweigh any of the potential difficulties they may face during the renovation process.
In an era where being environmentally conscious is no longer a choice but a necessity, being a homeowner gives you the power to make impactful changes that can help reduce your carbon footprint and be a part of the change in creating a healthier planet.
Our homes are more than just four walls, they are the foundation in which roots are planted and families are made. It’s within those walls where we make mindful choices and have the ability to incorporate sustainable practices into our everyday lives.
The choices we make allow us to do our part in helping to minimize the harm to the environment as well as cultivate a healthy and nurturing living space that promotes our well-being.
So why is it important for homeowners to adopt a sustainable lifestyle? First, it helps reduce the overall ecological footprint by minimizing energy and resource consumption, thus mitigating the impact of human activities on the environment.
Secondly, it promotes a healthier environment both inside and outside, consequently minimizing exposure to harmful pollutants and toxins.
Additionally, by incorporating sustainable changes into the home, homeowners have the opportunity to save some money through energy efficient and smart resource management.
Embracing this type of lifestyle doesn’t have to be daunting, in fact, there are many practical and accessible ways to create an eco-friendly home. We’re sharing 5 tips to help you create an environmentally friendly home.
Energy Efficiency
Improving energy efficiency in your home is not only beneficial for the environment but can also lead to significant cost savings. A few ideas include:
Waste Reduction and Recycling
Waste reduction means just that, minimizing the amount of waste generated in the first place. Consider reusing items whenever possible, such as refillable containers, and donating or selling items no longer needed before throwing them away.
By reducing waste, the strain on landfills lessens and lowers the overall demand for new resources. When we put these practices into place, we are aiming to minimize the impact our daily activities have on our environment.
Water Conservation
This is another critical aspect of embracing green living as it helps us use water in a way that’s good for the environment. Being careful of how much water is being used and using it wisely is important to contributing to a sustainable lifestyle. Shortening our showers, turning off running faucets, fixing leaky pipes immediately, and running the dishwasher and doing laundry when you have a full load are a few of the smallest ways in which we can do our part in contributing to water conservation.
Sustainable Material Choices
When renovating (or even building) your home, consider choosing eco-friendly and sustainable materials such as reclaimed wood, bamboo, or even recycled glass. These types of materials have a lower environmental impact and help reduce the carbon footprint by minimizing the amount of energy and emissions involved in production, transportation, and disposal of the materials. This lessens the overall environmental impact associated with construction and maintenance.
Natural and Eco-Friendly Cleaning Products
Another simple way to help do our part is by choosing to use natural and eco-friendly cleaning products. Products that are biodegradable, non-toxic, and environmentally friendly.
Many of the commercially available cleaning products contain chemicals both harmful to our health and the environment. Looking for natural alternatives are safer and healthier options for both you and the planet.
By embracing green living, we are doing our part in adopting sustainable practices. Each sustainable choice we make is a collective effort towards protecting and preserving the environment for future generations to come.
In the heart of urban landscapes and suburban neighborhoods, a new transformation is underway.
The concept of sustainability and green energy isn’t a new idea but its significance and integration into various sectors, including real estate, has gained a great deal of traction in recent years.
As concerns about environmental sustainability and climate change continue to grow, the pursuit of cleaner energy alternatives has shifted from a select few to more of a necessity. Solar power isn’t just changing buildings, it’s reshaping how people think about their property.
From rooftops that contain solar panels, to energy-efficient upgrades, the combination of solar technology and real estate is paving the way towards a greener future.
Solar panels, once thought of as a luxury to a home, will now be mandatory in New York City under NYC’s Local Laws 92 and 94 passed by the City Council in 2019 as part of the Climate Mobilization Act. The CMA, otherwise known as NYCs Green New Deal, is part of the plan to guide the city towards carbon neutrality by 2050.
Local Law 94 requires sustainable roofing zones on all new construction and major roof renovations while Local Law 92 adjusts those requirements for smaller buildings.
Making the switch to solar in New York will allow homeowners to take advantage of the ongoing federal, state, and local incentives, including tax credits, rebates, and beneficial net metering policies. Important to note, most incentive programs are only authorized for a certain period of time or until funding runs out.
As more and more homeowners look towards ways of upgrading their homes with cleaner energy sources, the move in this direction is becoming more common than it was previously. It’s changing businesses and how people live.
In this change, the real estate industry is at the forefront. It’s showing how we can create buildings that are innovative and good for the environment. Plus, properties become more valuable as we move towards a greener future.
We’re breaking down the top five reasons why the impact of going green is significant on the real estate landscape.
Increased Property Values
Embracing green initiatives, such as energy-efficient upgrades inside your home, think HVAC systems, smart thermostat, heat pump water heater, along with renewable energy installations like solar panels, can substantially increase a property’s value. Prospective buyers and tenants are becoming increasingly more drawn to homes and buildings with lower operating costs and reduced environmental impact, making green features a valuable selling point.
Attraction to Environmentally Conscious Buyers
Going green appeals to a growing demographic of environmentally conscious buyers and renters. People are seeking homes that align with their values, making properties with sustainable features more appealing and potentially leading to quicker sales or leases.
Going green is no longer just a “trend”.” More and more people care about the environment and want to live in a place that reflects how they feel. When a property already has things like energy-saving technology and appliances or solar panels, it becomes really attractive to prospective buyers and renters.
These types of additions are what buyers look for and knowing that the property already has them and is one less project for them to take on, can be even more appealing. The same way some buyers look for amenities like a backyard oasis complete with a swimming pool, others look for a home already outfitted with environmentally conscious additions.
Regulatory and Incentive Support
Government incentives, tax credits, and rebate programs are often available to promote green initiatives in real estate. These incentives can offset the initial costs of implementing environmentally friendly features, making it more financially viable for property owners to invest in sustainable upgrades.
Long-Term Resilience and Marketability
When it comes to going green, it’s important to think about the future long-term. Newer buildings are built to higher standards of durability and resilience in an effort to withstand the impacts of climate change and changing regulations.
When a property is built in a way that makes it strong and able to handle a variety of situations, it becomes more attractive to potential buyers and renters even as new rules or changes in the environment evolve. Property value won’t easily go down because it’s well-prepared to face challenges that might come up later on down the road.
The integration of solar panels and other clean energy technology stands as a beacon of progress, offering not only the promise of reduced energy bills but enhancing our property’s value while playing a vital role in protecting our environment.
When the day comes to purchase a home, there are bound to be many emotions – excited, nervous, even a bit stressed, but homeownership is an important investment for many different reasons.
Owning your own home is a way to build long-term wealth and financial security. Unlike other investments such as stocks or bonds, owning a home provides the benefits of both a place to live and a tangible asset that can appreciate in value over time. Unlike renting, where your money is not going toward building a future for yourself, homeownership allows you to invest in your future.
As a homeowner, you’ll have a sense of stability and control over how you want to customize and improve your living space. You can decorate your home to your taste without having to worry that the landlord may not approve of the changes (no matter how minor they may be).
When you own, it also provides the opportunity to build equity, which is the difference between the home’s value and the remaining mortgage balance.
As the mortgage loan is paid, not only are you reducing your amount of debt owed, you’ll be building that equity and increasing your ownership stake in the property.
To help you get an overall picture, we’ve broken down the benefits to homeownership below. Along with the more obvious reasons as to why owning a home has its advantages, there may be some that surprise you.
Building Equity:
As homeowners make mortgage payments, they build equity, which is a form of forced savings that can grow over time and provide a source of wealth.
Home equity can be a valuable asset homeowners can tap into if needed.Some of the more common reasons people may choose to use their home equity include home improvements, debt consolidation, education, and even emergency expenses.
Appreciation:
Historically, real estate has appreciated in value over time, providing homeowners with potential financial gains. When your property value is worth more than what you paid for, this can provide potential gains, either through selling for a profit or using the equity built up to obtain a loan or home equity line of credit.
It’s important to keep in mind, appreciation is not a guarantee as the value of real estate can also go down. In addition, appreciation can take time to occur.
Tax Benefits:
Homeowners can benefit from tax deductions for mortgage interest and property taxes, which can lower their taxable income and reduce the overall cost of homeownership. Having these types of deductions, especially during the early years when mortgage payments primarily go towards the interest.
Stability:
Homeownership provides a sense of stability and belonging to a community, as well as control over one’s living environment. Owning your own home allows you to customize it to your taste, both inside and out. Whether it’s repainting, planting a garden, installing a swimming pool, the decisions are up to you..
Owning a home can also give you a sense of security, knowing that you have a long-term place to live, should you choose. It allows you to put down roots in your community, becoming more invested in your neighborhood. From local schools, to small business, your ties to these types of establishments help give you a sense of belonging.
As a homeowner, you have the sense of freedom and independence that comes with having control over your living space and financial stability.
Forced Savings:
Paying a mortgage is a form of forced savings that can help homeowners build wealth over time. Each mortgage payment made goes toward principal and interest, which means that part of each payment goes towards building up equity in the home, which can serve as a form of savings.
In addition, making monthly mortgage payments allows homeowners to budget accordingly, creating good financial habits. This can help build a sense of financial responsibility and accountability.
Inflation Hedge:
Real estate can be considered an inflation hedge as property values tend to increase with inflation. Because real estate is something you can touch and see, when the cost of things go up like food, gas, etc. the value of real estate usually follows. This is because people still need a place to live since there is only so much land and housing available. When more people want to buy a home than there are available, the prices increase thus creating a sellers market.
Potential Rental Income:
One of the benefits to homeownership is the potential to earn income by renting out the property and earning passive income if you decide to move.This can help offset mortgage payments or provide additional income.
Keep in mind, there are several factors to consider when renting, including the rental market in your area, the costs associated with property management and maintenance, and the potential rental income that can be generated.
While renting out a property can provide a source of passive income, it’s important for homeowners to carefully consider the financial and practical aspects of becoming a landlord.
Pride of Ownership:
Owning a home can provide a sense of pride and accomplishment. For many people,owning their own home is a lifelong dream, and achieving that dream brings a feeling of accomplishment.
You’ve invested your time, energy, and resources into acquiring the property, and you can take pride in knowing that you’ve accomplished something significant.
Legacy:
When you own a home, you now have a tangible asset that provides stability and security for your family, both now and for future generations.
One of the most significant advantages to homeownership is the legacy it can provide for children, grandchildren, and beyond. Your home may also become a central location for gatherings with family and friends, and where traditions are passed down through generations..
Becoming a homeowner provides many benefits but there are certain factors to consider before making such a big financial commitment. Like most things, there are pros and cons and it’s important to carefully weigh those to determine if homeownership is right for you.
As the beginning of the year progresses and people become more settled in their routines, many homeowners find themselves thinking about a possible change of scenery.
We’re not talking about taking a vacation, although if you live in a colder climate you just might be planning one, the type of change many people think about this time of year is one that is a bit more permanent.
Believe it or not, the beginning of a new year is typically when people think about selling their homes for a handful of reasons. Several factors include the desire for a fresh start, changes in personal circumstances, improved housing market conditions, or the desire to take advantage of the traditionally busy spring buying season are a few top of mind reasons.
Additionally, the start of a new year is often seen as a time for new beginnings. The quest for a fresh start can also prompt people to consider making changes to their current living situation, which can include selling their home and moving to a new one (whether it be local or out of state).
Once the decision to sell has been made, it’s always a good idea to begin preparing your home before listing to make it more appealing to potential buyers. This can help to increase the chances of selling quickly and for a higher price.
Before you jump into any projects, the number one thing you should do is accurately determine the value of your property. Understanding where the real estate market currently is will help to set an appropriate, and also competitive, asking price. An accurate home value will not only help attract potential buyers, but it will also help you avoid leaving money on the table.
Once you determine the value of your property, there are additional things to consider before putting out the for sale sign. A few important factors to keep in mind include:
Timing
Consider the current market conditions and what’s happening in your local real estate market. If there are too many homes for sale in our area, you may want to wait until there is less competition. This is when having an experienced real estate agent pays off because they can provide the knowledge to help you make an informed decision.
Repairs and Improvements
Look around your home, are there repairs that you’ve been putting off? Consider making any of the necessary repairs or upgrades that you’ve had on the back burner. Doing so will help increase the value of your property and make it more appealing to potential buyers.
Hiring a Real Estate Agent
There are numerous reasons why it is a smart idea to hire a real estate agent. A real estate agent brings their expertise and experience to the complex process and can provide a smoother and more successful home-selling experience.
They know the local market, have access to the data, and understand the nuances of the process, making them the right person to help you navigate what could be a stressful and confusing process.
Additional expertise a real estate agent brings includes:
Closing Costs
Be prepared for the closing costs involved in selling a home. These costs include the real estate commission, transfer taxes, and title insurance.
Negotiations
Get ready for potential buyers to negotiate. Have a clear understanding of what you are willing to accept as well as what you are not willing to compromise on.
Once the decision to sell has been made and the above addressed, it’s time to jump into any of those projects that need to be completed before you put your home on the market. You want to ensure your home is in good condition and appealing to potential buyers.
While the projects that should be addressed are unique to each seller, we’re sharing a few common ones to consider:
As you consider making any type of home improvements, look at your budget and keep in mind not all projects are worth the investment. Review how much things will cost and the potential return on investment. Don’t forget, your real estate agent can also provide guidance on which projects will have the most impact and which ones may not be necessary.
For both sellers and buyers, working with a real estate agent is beneficial for a multitude of reasons. Depending on what side of the transaction you’re on, the reasons why you should work with an agent will differ. What doesn’t change is the invaluable experience a good agent brings to the table.
When it comes to selling, many people think they can save time and money by going at it alone, without a realtor. What’s interesting is that FSBO (For Sale By Owner) sales often are less than the homes sold by real estate agents. Granted, the homeowner saves on paying the realtor’s commission, but that comes with a cost (literally).
Statistics show that only 11% of sellers actually succeed at selling on their own and for the ones that do, their sales are about 26% less on average than properties represented by an agent.
A lot goes into selling a home that you may not even realize. There are many challenges and if you’re going at it on your own, navigating all of the moving parts can be difficult.
Real estate agents do a lot more than just bring potential buyers. They know the in’s and out’s of both buying and selling and are invaluable for a multitude of reasons. Michele Haas, President of the Brooklyn Multiple Listing Service (MLS), points out the following ways in which real estate agents are instrumental in the overall process.
Agents have:
Extensive knowledge of the market
Professional networks
Negotiating skills
Understand required documents
Fiduciary responsibility
Can readily find and identify comparable sales
Can recognize possible issues with a property
Must live up to the standards required by their license
Based on the above, we dive a bit deeper into just how working with an agent is beneficial.
Time Consuming – Selling your home is a full-time job. Between fielding calls and messages for showings, hosting an open house, advertising, and all of the other minutiae that comes with listing a home, it’s an agent’s job to make sure it is taken care of.
Experience – Real estate agents are trained for the job. They’ve studied and taken exams to become an agent and continuously refresh that knowledge with continuing education classes. They know how to navigate the market better than someone who isn’t in the business and their knowledge and experience can be the difference in getting a home sold quickly.
Pricing Advice – Agents understand the real estate market – they know the value of homes, they know the areas, and how to compare properties, all of which factor into pricing a home correctly. While you may have a certain number in mind, the price may not be reasonable. That’s why having an agent to research the comparable sales can help confirm if you are in the right price range. They know where to look and have access to this type of invaluable information.
What they don’t possess is an attachment. As a homeowner, you’re attached to your home in one way or another. Maybe it is your first home, or where you raised your children. Because of reasons like these, it can be difficult to be objective and for many homeowners, it’s not easy to separate the two. That’s why having a real estate agent is important as they can help you to focus on the bigger picture and not get caught up in the emotional side.
Professional Negotiators – As hard as it can be to price your home correctly when you have an attachment to it, so can negotiating its worth. Real estate agents are removed from all of that. Their main goal is to get your house sold and if negotiations are involved, they aren’t going to hold onto emotional ties that will prevent them from making a good deal. Being removed allows agents to give you better guidance and advice.
When it comes to negotiating, attention to detail is key. Your real estate agent knows what details need to be written into the contract. There are numerous documents involved in the process and having an agent to help navigate all of the paperwork is important, especially when questions or concerns arise, they can advise. This invaluable knowledge is helpful regardless of whether you are the seller or buyer.
Fiduciary Responsibility – Agents have a fiduciary responsibility to their clients, they must put your best interest first. Whether they’re working on your behalf to sell your home, or help you purchase one, their loyalty remains with you.
Network of Professionals – It takes a team of various professionals to get you to closing day. From home inspectors, to mortgage brokers, to attorneys, etc, a real estate agent has a trusted network of other professionals to help you every step of the way.
If you are on the other side of the real estate process and are looking to purchase a home, working with an agent is just as important. Buying a home is one of the largest financial transactions you’ll ever make and you want to have an expert on your side. Real estate agents are tapped into their network and have access to various sites, like the MLS, to get the most up-to-date listings.
Whether buying or selling, either side can benefit significantly from hiring a real estate agent. The reasons may be different but the end goal is relatively the same, to ensure as smooth and stress-free process as possible.
Congratulations, you’ve made the decision to purchase your first home and it’s an exciting time. You’re about to embark on one of the biggest financial decisions you will make in your lifetime so it’s important you understand what it is you’re about to take on.
Information is power and educating yourself on one of the most important purchases beforehand will give you a clear understanding of what you’re getting yourself into before you actually do. The home buying process has a language of its own and taking the time early on to understand will put you ahead of the game when you officially begin your search. Don’t wait until it’s time to sign the contract to educate yourself on the process.
Even if you’ve purchased before, it’s still a good idea to re-educate yourself and discover any new changes that have taken place in the real estate market. It’s a lot to wrap your head around but if you know what to expect then it doesn’t have to be as scary as you may think.
Before you begin the search, it’s a smart idea to start saving early. Having a strong down payment is important. Not only does it lessen the amount of the loan, in some instances, the stronger the down payment, the better your chances of your offer being accepted, especially in such a competitive market.
It’s also a good idea to find out your credit score and clean it up if need be. Credit scores typically range from 300 to 850 and while you don’t need a perfect score to get the best mortgage rates, there are certain credit score requirements you will need to meet in order to obtain a mortgage.
To qualify for the best interest rates, prospective home buyers should aim to have a score of 760 or greater. However, the minimum credit score requirements vary based on the type of loan you’re going for along with who is insuring the loan so speak to your loan officer to find out where you need to be in order to secure funding.
Along with putting money aside early and cleaning up your credit, there are additional things to keep in mind as you prepare to jump into the home buying market.
How much can you afford? – A common mistake potential buyers make is house-hunting before knowing how much they can actually afford.
“First they should get pre-approved so they know what they can afford,” explains Barbara LaBarca, Director at Brooklyn MLS and Broker/Owner at Coldwell Banker LaBarca.
Obtaining a pre-approval ahead of time is essential to the process. Why? Because you need to know the maximum loan amount you qualify for. You don’t want to have your heart set on a house only to find out you’re unable to afford it. Knowing the maximum amount you can spend will allow your agent to search for the homes in your range and save your time from viewing the ones that aren’t.
And second, without a pre-approval in hand, it’s difficult to make an offer. Most real estate agents will not accept an offer to purchase without an accompanying pre-approval, especially in this competitive market. You need to come in strong, and that includes providing the documentation needed to show you can back up the offer you’ve made.
Choosing the right realtor – Chemistry is key. You’re going to spend a lot of time with your agent so you need to mesh. You’re about to embark on one of the biggest purchases of your life and you want to have a trusted real estate agent by your side. Your agent should be able to explain the ins and outs of the home-buying process, be familiar with the area(s) you’re looking to purchase in, as well as understand exactly what it is you’re looking for. Overall, they need to be immersed in the local market.
Referrals are a great way to find an agent. Ask around, talk to people you know who have already gone through the real estate process and ask them to give you an honest opinion on what their experience was like.
And mostly importantly, you need to find an agent you can trust. Are they honest, and do they have your best interest at heart? It’s always a good idea to speak to at least three agents before choosing someone to work with. Once you find the right agent, remember to be honest and transparent about what it is you’re looking for so that from day one they can being finding you the right options.
There is no perfect home – It’s your first home and you’ve more than likely dreamed about the ideal place to put down roots. You don’t want to settle but before you start looking, it’s a good idea to write down the things you want out of your new home.
What are non-negotiables and what are the aspects you can compromise on? No home is perfect and going into your search understanding that will make things easier.
Maybe the home you fall in love with isn’t in the specific neighborhood you had hoped to move to, or the home in your chosen area is a bit smaller than you originally planned. Knowing what your deal breakers are ahead of time will make it easier to accept that the home buying process, and the home you choose, may not be 100% perfect, and that’s ok.
Do your homework – Ask yourself, what type of home fits your needs, what are your homeowner goals, and what type of property will best fit your lifestyle. Once you have the answers, start reading up on the different neighborhoods, taxes, schools, local attractions. Anything that is going to impact your life in a direct way once you settle down in a specific home / area, should be a part of your overall search.
Understand the buying process – There are a lot of moving parts to the home buying process so having an understanding of each is important. Even before you start looking, you’ll want to familiarize yourself with the different financing options available. Being informed could help you save money on interest, fees, and even your down payment.
Knowing the different types of loans available will prove helpful when you sit down with your lender. Along with the conventional mortgage most people know about, other types of loans include the FHA, VA, USDA, Jumbo, and Adjustable Rate Mortgage loans. Each one has its pros and cons, and while they may not be right for everyone, understanding what is available will be helpful to the process.
“Besides their mortgage payment, buyers should consider that they will need to pay bills like
their water bill, electric, and gas,” explains LaBarca. “Taxes and insurance are included in the mortgage.”
Choosing the right loan officer is as important as choosing the right agent. After your offer has been accepted, they will become the person you talk to often as they guide you through the next phase of the home buying process.
Whether you are obtaining funding directly from your bank, or working with a mortgage broker who serves as the middleman between lenders and borrowers, they should be able to help you in understanding the loan best suited for you, along with providing you the guidance needed when the application process begins.
After you find a home, there are multiple steps (i.e home inspection, appraisal) that need to be completed before moving forward. This is when having a knowledgeable real estate agent is important. They will be able to explain these processes and continue to put your best interest first while these next steps take place.
Buying a home can be overwhelming with many first time buyers dropping out of the market because they believe it’s going to be too difficult. The process does have its challenges, but with the right team in place, it doesn’t have to be as stressful as you envision. Working with the right people and educating yourself right from the beginning can make all the difference.
In this digital world we live in, it’s difficult to grow your business without implementing some form of social media marketing. Harnessing the power of social media allows real estate agents to create a digital footprint and connect with their audience on a personal level.
Effective networking is all about building powerful connections, and the goal for agents is to become well-known within their respective communities as the go-to source for all things real estate.
From a marketing standpoint, social media platforms, whether it be Instagram, Facebook, LinkedIn, Youtube, should be a part of your business toolbox. Leveraging social media allows an instantaneous connection with the audience. It opens up your sphere of influence and referral base and allows you to connect with an unlimited number of people. That includes existing clients, potential new clients, and industry peers.
Social media should be the tool you use on a consistent basis to promote your business and build your reputation. Just like the housing market itself, which is competitive, so is the real estate business. Within any city, you’ll find hundreds of agents which is why it’s important to position yourself as an industry leader.
Maris Callahan, founder and CEO of Social Broker, a full-service content membership based platform that helps entrepreneurs build their brands and grow their business with social media strategies, knows firsthand the importance and power social media has for real estate agents.
“Social media is no longer optional in the real estate industry,” explains Callahan. “As a real estate agent, there is nothing more important than staying top of mind among your sphere of influence so that your clients, friends, and contacts remember that you’re in real estate before they even need you.”
Having worked in a real estate brokerage firm as the director of communications, Callahan saw the impact social media could have on individual real estate agents and small teams. Passionate about connecting through social media and recognizing a need for more education and resources in the real estate space, is one of the reasons she decided to launch a business that would help agents grow their business organically by using social media platforms more meaningfully to acquire new business.
Ask any agent and they’ll tell you, a good deal of their business comes from referrals. Reaching out to current and past clients is one way to get referrals while using social media to network is highly effective in generating new business. The more you market yourself, the better your chances are of being successful.
And while every agent should use this type of self-marketing, it is only as effective if you do it correctly. You want to keep your followers interested and engaged so that they will look forward to the next piece of information you share.
That also includes networking with professionals and peers within the industry. Following other real estate agent’s social media pages and engaging on posts allows you to see how they’re marketing their business, opens up the opportunity to ask questions, as well as gain additional knowledge about the business as a whole.
The use of social media in the real estate business is not new, and many agents have already been utilizing these platforms so standing out can be a challenge. Create a social media plan before you start randomly posting. Map out what you want to share and then look for a social media scheduling tool that will allow you to schedule your content in advance. There are many different ones available so do a little homework before getting started.
Next, decide on a realistic schedule. How often will you be able to post? Is it two, three, or even four days a week? Once you decide, stick with the pattern. Keep in mind, you can always increase the number of days you post content but you don’t want to decrease. As Callahan points out, “As with so many things, you’ll get out of social media what you put in.”
Now, think about your followers. Before you decide on what type of content you plan to share, ask yourself, is it useful to them? Not all of your posts should be listings. You want to be a resource to buyers and sellers in your local market and you can do so by sharing relevant information.
“Social media doesn’t work if you’re only posting your listings, or if you ‘ghost and post’ once a week,” says Callahan. “Social media is a long-term strategy that relies on consistency – posting regularly, having variety, posting different types of content, and a balance between business and personal content.”
A good rule of thumb is to follow the 80/20 rule. Eighty percent of your social media should contain something of interest to your client. Think of it as establishing yourself as an expert. The remaining 20% of your posts can be about your business.
So exactly what type of content should you be posting to garner the most engagement from your audience? Think of the following three pillars when creating something of value for your audience.
Educate – Answer popular questions potential buyers and sellers might have, share a quick tip or a customer review.
Entertain – Pose a fun question to your audience to try and get them engaged in the conversation, create a holiday -themed post, or share a meme that’s relevant to the real estate industry.
Inspire – Share an accomplishment or an inspirational quote, as well as give your audience a behind the scenes look at what you do.
To help get the creative juices flowing we’ve listed a few types of content you’ll want to start creating.
These types of posts are also conversation starters so be sure to follow up with any comments or messages you receive from followers on your posts. This kind of engagement can lead to a valuable connection with a buyer or seller.
We know that getting in the social media game can feel overwhelming. It’s a full-time job and as a real estate agent, chances are you don’t have the time to commit to social media. If that’s the case, don’t let it be the reason why you don’t have one.
If you lack the time or skills to create a polished and professional presence that’s where Callahan and her team come in. With three different membership plans to choose from, they assist real estate agents with the content and strategies needed to excel in the social media space. “If you follow our strategies, use our content and incorporate your personality into your social media presence, you will, over time, generate leads on social media,” says Callahan.
If you still haven’t fully committed to establishing yourself on social media, remember this, you are your best billboard!
It’s finally here, moving day! Whether you’re heading into a new home or apartment, the excitement, and stress that comes along with the process is one that cannot be avoided.
Did you know that moving is consistently rated as one of life’s most stressful events? It ranks right up there with death of a loved one, divorce, job loss, etc. Even if your move is a happy one, it doesn’t lessen the stress that comes along with it. It is still a massive disruption of your routine, combined with all that is familiar to you. And no matter how well you plan, that feeling will not change.
Now, you’ve spent weeks (maybe even months) planning and packing, so when the actual day arrives, you’re bound to be in overdrive. Along with all of things you’re going to have to take into consideration, if you’re a pet owner, add another item to your pre-moving check list.
If you think the process is tough, imagine just how stressful it can be for your pet. Dogs especially can easily become stressed out when there is unexpected activity in the home, or even when introduced to a new environment.
Animals are creatures of habit, and for them, change, no matter how big or small we think it may be, can be both confusing and stressful.
So while you’re planning out the specifics for moving day, it’s important to also plan ahead for your pet. In order to ensure he or she is relaxed, and safe, on the big day, we’ve compiled a few top tips to help make the move a success for all members of your family.
Contact your vet
If you’re moving out of state, or out of the local area, contact your vet to obtain your pet’s medical records along with any current prescriptions. Part of relocating involves finding new doctors and that includes a new veterinarian. Ask your current vet if they can recommend a new doctor before beginning to do so on your own.
Plan Ahead
Prior to moving, it’s a good idea to visit your vet. According to Dr. Rachel Barrack, Founder of concierge veterinary practice Animal Acupuncture, you should make sure your pet is up to date on all vaccinations. If you’re traveling by air, Dr. Barrack stresses the importance of checking with the airline beforehand to confirm all necessary paperwork prior to the day of departure. If traveling by car, make sure your pet is used to their crate and plan ahead for bathroom and water breaks.
Pack An Accessible Bag for Your Pet
Included in your pet’s to-go bag should be a leash, bowls for food and water, food, medications, wee-wee pads or litter box, bed, and favorite toys so when you get into your new home you won’t be rummaging through boxes, Dr. Barrack points out.
Keep pets away from the action
One of the best ways to help your pet remain calm is to keep them in a quiet area although that might not be possible on moving day. You don’t want them getting underfoot or accidentally getting out. A good idea to consider is either boarding for a night or two or doggy daycare. If that’s an option you’d like to explore, Brooklyn is home to a variety of options. A few local places include:
Keep in mind, before your pet is able to board or spend the day in daycare, most animal facilities require the animals go through an evaluation to ensure they’re a fit, and to protect the safety of all the animals already at the facility. All vaccinations will need to be up to date as well so make sure to find out from your veterinarian which ones your pet will need. And lastly, some months may be more popular than others at the facility, so once you have your moving dates, call to reserve your pet’s spot.
Move the house before you move your pet
Set up as much of your new home as best you can before introducing your pet to his or her new digs. Let them slowly adjust to their new surroundings. Re-introduce familiar objects and make sure to give your pup lots of attention in the process. You can even walk them from room to room to take in the new scents they’re sure to pick up on.
Update information
Once you’re settled, make sure to update your new contact information. That includes notifying your vet, ordering new ID tags, and if your dog is microchipped, calling the company and ensuring they have all of the new and most current information.
Stick to a Schedule
Dr. Barrack stresses the importance of sticking to a schedule once the move is complete. Even though you’re in a new place, sticking to their usual eating, exercise, and sleeping schedule as best as possible will help to minimize the stress.
Most pets love predictability and routine, so a move can throw them into a tailspin. Change can be confusing and stressful so be mindful of their needs as you prepare your move.
And most importantly, Dr. Barrack stresses the importance of being patient. Once you arrive at your new home, it will often take even the most well-behaved pets a few days to adjust to their new surroundings. Consult with your vet as well on the best ways in which to ensure a smooth transition.
After a long, cold winter, springtime is back and bringing with it bright sun, breezy filled days, and a breath of fresh air. People feel energized and ready to tackle the tasks of cleaning and decluttering.
Spring is long considered the best time to sell a home, but before contacting your local real estate agent, you’ll want to ensure your home is squeaky clean. This goes beyond the general housecleaning chores—you’re going to want to do a deeper dive which is sure to make a huge difference to potential buyers.
Like the saying goes, “you never get a second chance to make a first impression,” and when it comes to your home, you’re going to want to “wow” potential buyers from the moment they arrive.
The outside of a home is just as important as the inside and oftentimes, buyers will have already formed an opinion before they’ve made it to the front door. Which is why landscaping, even if it’s minimal, of the front and back property should be on your to-do list.
Whether you’re looking to put your home on the market now, or just want to clean away winter’s mess, we’ve put together a list of tips to help you get started.
Outside Cleanup
Stage the Backyard
Steam Clean Carpets
Let in the Light
Deep Clean Kitchen and Bathrooms
Declutter & Organize
