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8 Tips For First Time Homebuyers

December 1, 2021 by khproperties Leave a Comment

Being a first time homebuyer can feel quite intimidating – you’ve got to deal with agents, sellers, rival buyers, banks, and title companies. And it’s not always clear what role each of them plays in the process. We have worked with many first time homebuyers. It’s great to guide them on the journey of property ownership and help set them on the path to building their wealth through real estate.

Any first time homebuyer should appreciate that they always have access to many professionals who can help explain the various tasks and processes required to buy a home. It’s not like you’ll walk through the experience blindfolded.

To help you on your way, here’s a quick list of tips for first time homebuyers. You’ll find the act of buying property is not as intimidating as you might have feared.

Start saving: That means not only reducing your day-to-day spending but also working to reduce regular payments on debts for items such as a car or personal loan. These obligations will reduce the amount of money a lender will allow you to borrow.
Work out a budget: Investigate how much you might be able to borrow. Factor in the expenses of buying a home, such as closing costs and moving. You should then have an idea of what you can afford. Setting your expectations early on will focus your home hunting efforts and avoid disappointment.
Arrange financing: Spend time exploring your options. Some banks demand a 20% deposit; others are more flexible. Perhaps your parents will co-sign for the loan, or part of it. Consider using a local lender as they will guide you and recommend suitable loan options.
Pre-approval is good: A lender won’t give you a pile of cash based on your salary. They’ll grant “pre-approval,” which means you can make a monetary commitment with confidence. However, the lender will finalize its approval once they’ve valued and approved the property you intend to buy. Do not sign any document that waives your right to pull out of a transaction until you are approved or you risk your lender refusing you.
Get mentally prepared: With your finances lined up, you need to think about the dynamics of buying a home. If you find your dream place, you better believe others will love it, too. So, be prepared to move quickly to beat the competition.
Find a great agent: For a first time homebuyer, a great agent will make the experience smoother and less stressful. When selecting an agent, ask each one to share with you properties they’ve bought for other clients. This will indicate whether they can find what you’re seeking.
Go hunting: House hunting is fun but exhausting. In a hot market, it can get stressful because of buyer competition. Don’t be put off, and keep your focus. You may miss out on a few properties, but there are many more out there.
Be confident: When making an offer for a home, be confident. Don’t ask your agent to make low ball offers just to see if the seller bites. You risk being labelled a time waster and go to the back of the line. You have every right to make any offer, but be realistic if you want the property.

How To Choose The Perfect Paint Color

November 21, 2021 by Matt Stigliano Leave a Comment

Whether you’re about to sell your home or renovate, there are few better low budget ways to add some sparkle than a fresh coat of paint. Many agents recommend homeowners break out the brushes before putting their property on the market because a good paint job helps to clean up the bumps and scratches that walls endure over the years. Choosing the right color can be intimidating. If you’re selling, opt for soft whites and creams throughout the home. These tones help make rooms feel bigger, whereas rich and bright colors will dominate and shrink a space. A vanilla style approach also avoids potential objections from prospective buyers who might not like your taste in color schemes. Incredibly, we’ve seen buyers reject perfect homes because they didn’t like the shade in a room. So, keep your paint colors inoffensive when selling. Of course, if you’ve just bought your home or you’re renovating, then you can be a little more expressive. If you struggle with color, an interior designer will be a huge help.

Here are some tips for selecting colors.

Light it up If you plan to change your home’s lighting design, do this before you paint. That way, you’ll have a more accurate assessment of how each candidate color will impact your home.
Paint with purpose If you’re testing colors for a wall, then paint on the wall. Don’t use blank boards and hold them against the wall. (Many people do). The texture of the wall and boards will be different. The saturation of the paint into the surface affects the subsequent impression of color.
Test different areas If you’re looking to use the same color throughout the home or in multiple rooms, don’t restrict yourself to testing one wall. Try candidate colors in different areas.
Be brave If you’re going to paint a wall, then it doesn’t matter how many colors you test on it. Eventually, you’ll paint over them anyway. Paint a minimum of one square foot for each color. The larger the area, the better.
Keep colors together Paint the candidate colors close together on the wall as this will give you a more accurate impression of their impact. Between the colors, leave a small gap to place a piece of white paper between them. The white in the paper acts to balance the impression of each color accurately. It’s an optical illusion and a helpful trick.
Lay it on thick Apply two coats even when testing. If you’re going to paint new drywall or gyprock sheeting, use an undercoat or primer.
Undercoat tip If you’re in love with bright colors or plan a feature wall, you’ll get the best result on all surfaces by applying a primer or undercoat.

image courtesy of Jessie Pearl

Ready To Sell? Use These 4 Feng Shui Tips

November 15, 2021 by khproperties Leave a Comment

If you know anything about the ancient wisdom of feng shui, it might be profitable to pay some homage to the art when preparing your home for sale. While there is a unique philosophy rather than science underpinning feng shui, many of its instructions about furniture arrangement make perfect sense. They can enhance the enjoyment of living in a home and improve the impression that it makes with buyers conducting a walk-through. Although some of its approaches can be instructive in terms of preparing your home for sale, there are some easy actions you can take to give your home better feng shui.

Doors: Make sure they open and close easily. This improves energy flow. Doors must not be blocked or pushed up against a piece of furniture when opened. Buyers will think the space inadequate if this is the case.

Energy: If your home has an unimpeded line-of-sight from the front to the back door, that isn’t good, according to feng shui. Energy that comes into the home escapes straight out the other side. Arrange furniture so there’s not a runway through the heart of your home.

Beds: Feng shui demands beds are strategically positioned. If your bed faces the door directly, you’re in what adherents call the “coffin position”. That’s because your feet are pointing out the door. And don’t put beds directly against a wall as this disturbs the balance of a room. It also makes a room feel smaller.

Desk: If you’re offering a home office as part of your home, don’t have the desk facing the window. If you do, your qi, or energy, goes out the window, too. And whatever you do, don’t put a desk in the main bedroom. It will make it difficult to sleep according to the feng shui masters.

We hope you’ve found this list fun, helpful, or both. If we can help you secure your dream home or sell your existing property, please do not hesitate to contact us. We can discuss buyer preferences, prices trends in your neighborhood, and the best ways to maximize your property’s value.

Design Ideas For Your Bathroom

November 2, 2021 by khproperties Leave a Comment

As anyone who’s completed a bathroom remodel will tell you, the most significant influence on design is the humble bathtub. Because of its size, its placement will dictate where other elements, such as the vanity, shower, and toilet, can be installed. If you’re dealing with a tight space, you should consider combining a bath and shower. This is often a better option than excluding a bathtub from the project altogether. If you’re living in a family sized home, you must have a tub. The reason? When it’s time to sell, you’ll exclude many young families as potential buyers if there’s no bath for the kids. There’s a lot to think about when buying a tub. They come in a variety of shapes and sizes, of course, so below is a list of the eight most common design options to consider.

Remember, the design you ultimately select may require the relocation of water pipes, so build the cost of plumbing into your budget.

Recessed: Also known as “alcove baths”, these models are installed against three walls. Usually, you’ll find them against the back and side walls, as this location provides the greatest design flexibility in an average sized bathroom.
Freestanding: Popular choices include the infamous clawfoot tub. Usually, freestanding baths are made of enameled steel or cast iron but new models are fiberglass. Before you fall in love with one, you should be aware that they can be heavy. If you’re installing it upstairs, you may require engineering advice to ensure structural integrity.
Whirlpools and spas: These are extravagant, fun options. Different jet designs will dictate whether the model is more a whirlpool or a spa.
Soaker: With luxury and relaxation in mind, soakers are extra large models in which you can totally immerse yourself. Again, if the installation is upstairs, you may need to get advice about the structural impact of its weight.
Garden: Similar to soaker tubs, garden tubs are typically deeper and oval in shape. Named garden tubs because in the 1700s, French aristocrats often opted to place their tubs in or with views of their gardens.
Corner: As the name suggests, this model is placed into a corner of the bathroom. It’s perfect in a large space that offers lots of design options.
Undermount: These baths are spectacular but need space and budget. They’re freestanding and can be placed in the middle of the bathroom. Tiles usually encase them on all four sides with storage shelves added.
Platform: This is a freestanding bath that sits proud on a platform that is perhaps a one-step-height above the rest of the bathroom floor. They can look amazing.
Drop-in: The opposite of a platform bath, drop-ins are sunken into the floor or platform, which minimizes the visual impact.

Add Value To Your Home With These Halloween Renovations

October 28, 2021 by khproperties Leave a Comment

The scariest night of the year is upon us so here’s a look at the most terrifying Halloween renovations to add value to your home. These hauntingly simple changes to your home can add values so high, it could scare even the strongest willed investor! We’ve assembled this list of Halloween renovations after exhausting research into the scariest houses all over the world. If you want to scare up some value in your home, here’s what we recommend:

A resident ghost – A spirit feature can add 20% or more to the value of a haunted house. The final figure is determined by the era of the ghost and the quality of the haunting. Well preserved heritage elementals are highly sought after by discerning buyers, although it can be hard to organize for them to make an appearance at showings.
A haunted attic – Every ghost needs a place to chill before terrifying a home’s inhabitants and an attic is the equivalent of an other worldly “parents retreat.” Even if you do not have a ghost, savvy sellers are styling their attics with chests of old toys, clothes, and photographs.
A creepy basement – Premium features include steep steps that are a threat to your life, rising damp, cobwebs, and a strange dark stain on the floor.
A hidden room – Whether it is accessed via a hardback in the bookcase or a secret panel, there is nothing that excites buyers more than a hidden room. Stylings vary from ghostly nurseries to bondage rooms – as long as it’s not on the official floor plan it it will attract premium offers.
Garden with pet cemetery – Forget water features, outdoor kitchens, or firepits, the hottest landscaping idea right now is a spooky pet cemetery complete with adorable tiny headstones to celebrate the afterlife of faithful friends.

This article is intended as some fun in the lead up to our favorite holiday and has absolutely no bearing on a real property value estimates (although our agents would be delighted to provide you with a comparative market analysis or to help you find your next home). Enjoy your Halloween renovations and Happy Halloween!

5 Halloween Ideas To Turn Your Home Into A Creepy Nightmare

October 25, 2021 by khproperties Leave a Comment

Being cool and creepy at Halloween takes effort. You know the house, you’ve walked by it in your neighborhood – it looks like a horror movie set and you find yourself jealousy wishing your Halloween ideas would come together so perfectly. So if you’re about to swing your attention to Halloween, here’s some super-scary Halloween ideas to turn your dream home into a nightmare!

Make a plan: Don’t arrive at the decorations store or Walmart and go mad with the credit card, buying everything that looks dark and evil. Instead, make a plan of how you’d like to decorate your porch or front yard, and then shop with focus.
Pick your poison: Stick to one ghoulish theme. Don’t take the shotgun approach and scatter shot your porch with zombies, vampires, and ghosts. Choose one dark direction and execute without mercy.
Crazy clutter: Avoid making your display too busy. Creating a clutter of pumpkins, creepy crawlies and fake spider webs will lack impact. Know when to stop, which is hard because Halloween is so much fun.
Scary sounds: Stream some super-creepy soundtracks and play them on repeat over a Bluetooth speaker. Spotify’s four minutes of “Scary Clown Laughing” is a total freak-out. “Evil Girl” is even worse, which is why it’s had 1.2 million downloads.
Lights: Invest in striplights with a remote control or app to manage the colors and brightness. It will allow you to really create a mood and occasionally plunge your neighbor’s kids into darkness to really creep them out. Avoid lights that are white and bright.

Of course, Halloween is all about fun, so don’t stress and enjoy the season.

Open House Listings

August 25, 2020 by khproperties Leave a Comment

Thinking about getting out this weekend and checking out an open house or two? You can now find open houses to view in San Antonio and surrounding areas. Our list of open houses come direct from the listing agent’s information and the listings are updated regularly throughout the day and are sourced directly From the MLS information for the property (so you can preview before you even attend the open house). Plan your weekend house hunting trip during the week using our open house website and as always, please let us know if you’d like any assistance in finding your next home. Happy house hunting!

www.openhouses-sanantonio.com

You can also click the “Open Houses” link in the menu under the “Listings” menu item.

image courtesy of Alex Ermolin

FIRPTA – The Foreign Investment in Real Property Tax Act of 1980

August 25, 2020 by khproperties Leave a Comment

The first time you hear someone say FIRPTA out loud (sound it out as if it was a word and not an acronym), you’re more than likely to think that person is making words up. Like many acts of the US government, FIRPTA has a much lengthier and descriptive name: The Foreign investment in Real Property Tax Act of 1980. The act allows for tax withholding and reporting when a “foreign person” (see below) sells real estate in the United States. FIRPTA puts the obligations for withholding and reporting onto the buyer, which can make it a little frightening if you’ve never dealt with it as a buyer. As with most things in real estate (as mentioned on the homepage), it’s all a matter of asking the right questions and talking to qualified people who understand FIRPTA and know how best to advise you when you find yourself in this situation.

First, let’s define “foreign person.” According to FIRPTA, a foreign person is 1) an individual that is not a US citizen or a resident alien, 2) a foreign corporation that is not being treated as a domestic corporation, or 3) a foreign partnership, trust, or estate.

Under FIRPTA, a buyer must withhold a percentage of the “amount realized” (purchase price) and within 20 days of closing report and pay the tax to the IRS. The percentage is determined by several conditions. If the buyer is acquiring property that is not intended to be their residence, FIRPTA requires the buyer to withhold 15%. If the property being acquired is going to be the buyer’s residence, then the percentage of withholding ranges from 0-15% and depends on the sales price. Up to $300,000 it is 0%, over $300,000 and up to $1,000,000 it is 10%, and over $1,000,000 it is 15%. Like many IRS regulations, there are exemptions.

If you are notified that your transaction has triggered FIRPTA, you should call an attorney, CPA, or other tax professional, preferably one familiar with The Foreign Investment in Real Property Tax Act of 1980. As there are exemptions, these professionals can guide you through your situation and recommend what your next steps will be. In many cases, a consultation with a tax professional will allow you to know the seller may be exempt and you as a buyer can move to closing without any further action. Exemptions include a sales price of less than $300,000, a seller able to provide an Affidavit of Non-Foreign Status, a seller providing a FIRPTA Withholding Certificate from IRS, and when sellers are participating in a 1031 exchange and can provide the appropriate information about the sale in writing. As with anything of this nature, the laws and how they work can change over time and we are not tax professionals, so it is best to ask your CPA for tax advice.

In our experience, many of the title companies will provide access and a free consultation with a tax professional who can advise you on your next steps and whether or not you will need to withhold. Further time may be required if it is decided that withholding is necessary as there are rules and as you well know with the IRS, there will be forms to be filled out.

As it is tax related, there are penalties for not withholding the appropriate amount, not reporting it, and not reporting it within the allowed amount of time. And the IRS can tag on interest as well – so you really want to make sure you follow the letter of the law on this one (which is why we highly recommend a tax professional, particularly one with experience with FIRPTA).

While FIRPTA can seem scary at first, with a little patience and consultation with the right people, you can get through the regulations and successfully close on your new home or other property.

image courtesy of cafecredit

Organize Your Move: Moving Checklist

January 10, 2020 by khproperties Leave a Comment

Whether you’re buying a home or selling your home, once you’ve left the closing table and everything is signed off on and the loan is funded, you’re going to have to move. Moving can be a bit of a crazy time for anyone – boxes everywhere, the fear of packing that one thing you know you’re going to need on the last day, the decisions of which boxes go where, the physical stress of the move – it’s a lot. Some people go it alone, some people hire the professionals, but no matter which way you decide to go, you can always benefit from a moving checklist. A simple list of what to do and when to do it. While everyone may have different items they want to add to the list, we thought a simple, basic list would help get you started. You can download a PDF of our moving checklist by clicking on the image below.

Moving Checklist – Download

Image of Kimberly Howell Properties Moving Day Checklist

Download a PDF version of our moving checklist.

image courtesy of myguys.nova

Beneficios de ser dueño de su propia casa.

October 18, 2019 by khproperties Leave a Comment

Felicidad: No hay nada que se compare a la sensación de tener su propio hogar. Puede arreglarlo, darle su propio estilo, tener un perro o un gato, e incluso plantar un árbol si lo desea. ¡Solo imaginarlo causa alegría!

Ahorro de impuestos: el gobierno recompensa a los propietarios de viviendas proporcionándoles excelentes beneficios en los impuestos. El interés pagado por su hipoteca y otros gastos relacionados con el hogar generalmente se pueden deducir de sus ingresos.

Apreciación: Hay un crecimiento de valor en las viviendas con el paso del tiempo; este aumento se convierte en ganancia cuando sea el momento de re-financiar o vender la propiedad.

Renta variable: tanto rentar como alquilar se puede comparar a pagar 100% de interés, pero cuando usted es dueño de una casa y cuenta con una hipoteca, una parte del pago se destina al saldo principal de su préstamo. Esto construye su capital y actúa como una cuenta de ahorros.

Vida en comunidad: quienes son dueños de sus casas son más propensos a permanecer en sus hogares 4 veces más que quienes rentan propiedades. Esto brinda la oportunidad de conocer a sus vecinos y conectarse con su comunidad.

Educación: las investigaciones muestran que los hijos de los propietarios de viviendas obtienen puntajes más altos en exámenes y se gradúan en un porcentaje más alto que los hijos de inquilinos.

¿Necesita un agente de bienes raíces que hable español?