Darryln Leikauskas - Berkshire Hathaway HomeServices Commonwealth Real Estate



Posted by Darryln Leikauskas on 11/30/2018

Understanding how much your home is worth is important for a number of reasons. For one, when you go to sell your home, youíll have an idea of how much equity that youíre working with. You may need to either refinance your home, take out a loan, or line of credit. Knowing the current market value of your home can give you a good idea of your finances and what to expect. Many people believe that their home is worth more than it actually is. In reality, your home is only worth what people will actually pay for the property in a certain time frame. 


Some websites offer basic ideas of how much your home is worth. You can also use the Internet to search for comparable properties and see what has been sold, how much it has been sold for, and how much other homes that are similar to yours in the neighborhood are worth. Youíll need to be sure that the comparing properties include the same types of features as your own home in order to get a good estimate. 


Consult A Realtor


Experienced realtors in your area are great resources for helping you to determine your propertyís value. Many agencies offer free market value analyses, which can help you to see where your home would fall in the current real estate market. Realtors donít get paid unless your home sells. They can use their many resources to work with you on the sale of your home and help you to price it appropriately.


Hire An Appraiser


If you want to dig a bit deeper in the pricing of your home, youíll need to shell out a bit of cash. You could hire a certified appraiser who will dig deep into your property to determine the value. Once you find a buyer, another appraisal will happen on the property. The buyer pays for this. If you really want a good idea of how much your home is worth, hiring an appraiser beforehand is key. Keep in mind that appraisers may come up with slightly different estimates for the same home.      


Know The Key Things That Affect Home Value


There are a few big factors that influence just how much your property is worth. While you may love your big kitchen, it goes a lot further than that. Factors that contribute to how much your property is worth include:


  • The amount of land that you have
  • The neighborhood your home is in
  • The schools your home is near
  • How many square feet your property is
  • The condition of your home
  • Any updates that have been made to the home
  • The types of appliances you have
  • Has the home ever been foreclosed on? 
  • Is your home energy efficient?


Based on all of this information, youíll be able to get a good idea of what your home is worth. Beware of things that can cause a major financial setback on your homeís value like an urgent need for roof replacement, dated windows, or an unknown crack in the foundation. Getting an idea of what your home is worth is a great way to keep on top of your own assets whether youíre prepared to sell or just curious about numbers.




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Posted by Darryln Leikauskas on 11/23/2018

An open house may prove to be exceedingly important, particularly for a buyer who plans ahead and makes the most of this opportunity. Because if a buyer enters an open house with a plan in hand, he or she can gain the necessary insights to determine whether to set up a home showing or consider other residences.

Now, let's take a look at three things that every buyer needs to know about open houses.

1. Open houses generally take place on weekends.

If you plan to pursue a home in the near future, you may want to keep your weekends open. That way, you can attend as many open houses as possible and boost the likelihood of discovering your ideal residence.

Most open houses are held on Saturdays and Sundays, and these events may begin late in the morning and end late in the afternoon. There is no requirement to attend an open house as soon as it begins. However, it is important to remember that the early bird catches the worm. And the sooner you attend an open house, the sooner you can determine whether a residence is right for you.

2. Each open house is designed to provide a stress-free experience.

During an open house, you can walk around a residence and explore all aspects of a home at your own pace. Meanwhile, a seller's real estate agent is present and can respond to your concerns or questions as well.

Oftentimes, it helps to craft a list of questions prior to an open house. This will enable you to receive immediate responses to your queries from a seller's real estate agent.

You also may want to carry a notepad and pencil with you as you walk through an open house. This will allow you to keep track of any notable home features or flaws, and ultimately, weigh the pros and cons of a residence.

3. An open house provides no guarantees.

There is no guarantee that you'll find your dream residence during the first open house you attend. In fact, you may need to attend dozens of open house events before you discover a home that matches or exceeds your expectations.

As a buyer, there is no need to leave anything to chance as you search for your ideal house. And if you collaborate with a real estate agent, you can stay up to date about open house events for residences that correspond to your homebuying criteria.

A real estate agent is a property buying expert and will do everything possible to help you discover your dream house. In addition to keeping you informed about open house events, a real estate agent will set up home showings and offer homebuying recommendations and suggestions. By doing so, a real estate agent will help you achieve the best-possible results during the property buying journey.

Hire a local real estate agent today, and you can take the first step to find and buy your dream house.





Posted by Darryln Leikauskas on 10/19/2018

If you've been pre-approved for a mortgage, you can enter the housing market with a budget in hand. In fact, this mortgage will enable you to spend up to a certain amount on a house. But in many instances, it pays to buy less house than what you can actually afford.

Ultimately, there are many reasons to consider purchasing a house below your means, such as:

1. You might not have to worry about significant home maintenance.

A small house likely means less home maintenance than would be required in a large house. Therefore, you may be able to spend less time worrying about keeping your residence looking great if you acquire less home that what you can afford.

Of course, let's not forget about the money that you might save by purchasing an affordable residence. If you buy an inexpensive home, you may be able to use the money that you save to hire professional home cleaners, landscapers and others to help you enhance your residence's appearance.

2. You'll be better prepared than ever before for unexpected expenses.

There is no telling when a family emergency, natural disaster or other dangerous situations may arise. Fortunately, if you spend less on a house now, you may be better equipped than ever before to handle the expenses commonly associated with these unforeseen events.

Purchasing a cheap house may prove to be valuable if you encounter costly, time-intensive home repairs down the line too.

For example, your home's roof won't last forever, and you likely will need to fix or replace it at some point. But if you purchase a budget-friendly home, you may be able to save extra money that you can use to cover the costs associated with various home repairs.

3. You'll have more money that you can use to personalize your house.

The money that you save on a house today may be used to upgrade your home both now and in the future.

For instance, if you want to install a deluxe swimming pool or fire pit in your backyard, spending less on a house now may provide you with the financial resources that you need to fund these projects. And if you complete a broad range of home renovations, you may be able to increase your house's value as well.

Deciding how much to spend on a house can be a tough decision for any homebuyer, at any time. If you collaborate with a real estate agent, you can explore a vast array of residences that fall within your price range.

A real estate agent will learn about your homebuying goals and tailor your home search accordingly. He or she also will set up home showings, keep you informed about new residences that become available and ensure that you can discover a home that matches or exceeds your expectations.

Consider your budget closely as you prepare to kick off a home search. By doing so, you should have no trouble finding a terrific house at an affordable price.





Posted by Darryln Leikauskas on 9/21/2018

The biggest area of your life that you need to understand before you buy a house is your own finances. Before you know what kind of house you can buy, youíll need to understand your own buying power. While things like square footage, how many bedrooms you need, and finding the right neighborhood are important, you canít go very far without some type of financing. While understanding how much you can spend on a property is one of the more serious parts of buying a home, itís something that youíll want to do. Knowing what you can spend on a home is a step to helping you land a home you love. If you understand your own numbers, youíll know the chances that you have of an offer being accepted on a place you love.  


The Elements Of Your Buying Power


Your Credit Score


This little three digit number has a lot of meaning behind it. This is the most basic piece of information that lenders use to determine your loan worthiness. The factors that influence your credit score include:


  • Payment history
  • How much you owe
  • Length of your credit history
  • Mix of credit accounts
  • How much new credit you have opened


A low credit score is somewhere under 620. Having a score this low doesn't necessarily mean that youíll be denied for a loan, but the type and amount of the loan youíre offered can be impacted. Youíll also face higher interest rates because of a low credit score. This means your mortgage could be considerably more expensive than if you had a higher credit score. 


Down Payment


The 20 percent down as a rule of thumb actually offers many benefits to your buying power. This means that youíll need 20% down of the purchase price of the home in cash. If you put this amount of money (or even more) down on a home, it eliminates the need for you to have to buy PMI (Private Mortgage Insurance). Youíll even be able to negotiate a lower interest rate. A large down payment may be especially helpful in competitive markets where there is a lot of buyer competition.


How Your Financial Picture Appears


Your assets and your debt-to-income ratio are also important factors in your financial picture that you present to the lender. Basically, all of these numbers let both the lender and the seller see how committed you are to buying a home. It is one of the biggest financial undertakings of your entire life. If you canít show financial responsibility, then it may be a bit difficult for lenders to see that youíll actually pay your loan back in a timely manner.


The better all of your financial numbers are, the more buying power that youíll have. If your numbers are good, youíll be able to afford more house. While it may not be the most exciting thing to look over all of your financial numbers, itís a vital step in the process of your journey to home ownership.




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Posted by Darryln Leikauskas on 8/31/2018

The weeks and days leading up to a home closing can be stressful, particularly for a homebuyer who is already trying to do everything possible to secure his or her dream residence. Fortunately, we're here to help you simplify the process of getting to your closing date.

Now, let's take a look at three tips to ensure you can enjoy a fast, easy home closing.

1. Get Your Paperwork Ready

It often helps to get all of your homebuying paperwork ready before you pursue a residence. That way, you can minimize the last-minute stress associated with searching far and wide for pay stubs, tax returns and other documents that you'll ultimately need to get financing for a residence.

Furthermore, you should meet with local banks and credit unions as soon as you can. If you can get approved for a mortgage prior to starting a home search, you may be able to speed up the process of acquiring your ideal residence.

2. Be Prepared to Cover Your Closing Costs

Although you might have financing to cover your monthly mortgage payments, it is important to remember that you may need to pay closing costs to finalize your home purchase. As such, if you begin saving for your closing costs today, you can guarantee that you'll have the necessary funds available to purchase your dream residence on your scheduled closing date.

Also, you should be prepared to present a cashier's check or wire funds when you close on a house. If you plan ahead, you should have no paying off your closing costs when your complete your home purchase.

3. Schedule Your Final Walk-Through Before Your Closing Date

When it comes to a final walk-through on your dream house, why should you leave anything to chance? Instead, set up the final walk-through at least a few days before you're scheduled to close on a house.

If you find problems with a house during a final walk-through, you'll want to give the seller plenty of time to address these issues. Thus, if you schedule a final walk-through several days before your closing date, you can ensure that any home problems can be corrected without putting your closing date in danger.

For homebuyers who are worried about a home closing, there is no need to stress. In fact, if you work with an expert real estate agent, you can receive plenty of support throughout the homebuying journey.

Typically, a real estate agent can explain what you should expect in the time leading up to your closing date. If you have any concerns or questions before a home closing, a real estate agent is happy to address them. Plus, when your closing date arrives, a real estate agent will help you remain calm, cool and collected as you purchase a home.

Ready to streamline the process of closing on a house? Use the aforementioned tips, and you can reap the benefits of a quick, seamless home closing.




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