Should I get a home before we get married?

Question: I'm a first time home buyer. I'm 18 years old and getting married in April to a man who is 23 years old. He has good credit but I'm afraid we won't be able to get a mortgage in time for the wedding.

He has two car loans already and his jobs aren't really that great. If you put all three of his jobs together he makes around six to seven hundred dollars a week.

Where do you think would be the best place for us to get a loan. Where is the first place we should try?

Answer: You should be congratulated for thinking ahead and your future husband should be recognized for his willingness to work.

It's not necessary to have a mortgage in place by the time you're married. In fact, it may not be a good choice. The reason is that you, at age 18, need some time to either continue your education or get a job. The first choice will increase your potential earnings while the second will help you generate dollars that can be used to build savings and pay off those pesky car loans.

Before buying a home you need to consider your local market and your preferences. Are home prices rising or falling? Is the job base growing? Is the population increasing? How will you get to As to a new home by your wedding day, allow me to suggest that you are best served carefully examining your options and waiting until the right property is available. If that happens by your wedding day that's great; if not, that's okay too. The purchase of a home is a long-term investment, a process which should not be rushed. work? Where will you be living in five years?

You can speak with several lenders regarding loan programs that might work for you. Once you can qualify for a program you will know how much house you can afford. Then speak with a local broker regarding properties now available that would meet your needs.

Market update for Illinois and NW Indiana

The market is slowly shifting to a weak buyers market in most instances.

The exception are homes that are in top, updated condition.          

These homes, in many cases, are still receiving multiple offers.

Sellers have to adjust their thinking that this is not the sellers market of 2022.

Your non-updated home, in average condition, is not going to sell for the price it did back then!

You did not spend thousands and thousands of dollars to update your home, so you will not get top dollar now.

Another Round of helpful Life Hacks

1.  Need some milk for cooking, but nothing else?

     Pick up some dry milk in the baking aisle. It lasts for years and tastes great. Also works great for mac & cheese.

2. Want to evenly distribute heat while microwaving food?  Create a doughnut shape with your food. No more burning- hot center and cold edges.

3. Want a simple way to budget your finances? Use the 50/30/20 rule.                                            

Budget 50% on Needs, 30% on wants, and 20% on savings.

New Listing in Highland: Affordable, Beautiful & Well Cared for!

 

3131 Strong St, Highland, In   $268,900

           https://www.mccolly.co3131 Strong St, Highlandm/single-family/gni/838549/3131-strong-street-highland-in-46322

 

Take the video walking tour:

https://www.youtube.com/watch?v=GRjEeG_RzhI

Just Listed!  825 Grand Haven Way, Schererville, IN 46375

This beautiful and spacious, 2-bedroom, 2-bath half duplex home, is located in the desirable Briar Cove community. Upon entering the home, visitors are welcomed by a striking Foyer with a soaring 14-foot ceiling. This impressive height creates an open and spacious atmosphere, immediately setting a tone of elegance and grandeur. The Living room is thoughtfully illuminated with a combination of natural and recessed lighting. The recessed fixtures provide the perfect amount of brightness, enhancing the architectural features of the space and ensuring a warm, inviting ambiance. The primary bedroom is designed as a peaceful retreat, complete with a lighted Tray ceiling, a private bath and a walk-in closet. The second bedroom, also with a lighted Tray ceiling, is situated at the opposite end of the home, with the main bath conveniently adjacent, offering privacy and functionality for guests or family members. This layout is ideal for related living arrangements. The eat-in kitchen is thoughtfully designed for convenience and casual dining, making meal preparation and family gatherings easy and enjoyable. Appliances are included. There is also a dedicated dining room area, perfect for more formal meals or entertaining guests. A versatile den offers extra space that can be used as an office, craft or sitting room. The bright and cheery Sunroom provides an ideal setting for enjoying natural light throughout the day, creating a warm, welcoming, and relaxing atmosphere. The large living room, featuring a gas fireplace, serves as an ideal centerpiece for the home. Main level laundry. Washer and dryer are included. Completing the home is a 2-car-attached garage, which provides both storage and convenience. Also: New Lighting. Recently painted. Newer appliances. Crown Molding. Community has a beautiful waterfall and pond. Convenient location close to Shopping, Restaurants, Movie theaters and close to the South Shore train station.

Great idea to keep the clothes clutter out

 Have a hard time throwing out clothing?

Every time you wear something, reverse the hanger when you put it back in your closet.

At the end of the year, give away all of the clothes that still have the hanger the right way around!

A Bedroom where we sleep isn't a Bedroom? What?

 

Question:   We have a bedroom in our basement. The appraiser said it is not a bedroom and our home appraised at less than sale price. How could they say it is not a bedroom when we have beds in there and our sons slept there for 13 years? We are furious!

Answer:  I understand your frustration. You have a nice home, both parties agreed to the sale price, you made it through the home inspection and everyone is happy. Then the appraiser steps in and ruins this perfect deal.

Although your home obviously has a bedroom in the basement, it does not meet the bedroom criteria that an appraiser uses. This may vary from state to state, but generally a bedroom is considered a bedroom by an appraiser if it has 2 ways of egress (door and/or window). The bedroom must be at least 70 sq. ft, and it cannot be smaller than 7 ft in any horizontal direction. Sorry, that 2’x35’ room is not a bedroom. The escape window or door must be at least 5.7 sq. ft for an opening.                                                                                                                              

But guess what? It doesn’t need a closet according to the appraiser!                         NOTE: It would be a good idea to put at least an armoire in that bedroom to satisfy your buyer.

The Conclusion: It may look like a bedroom, it may have a bed like a bedroom and you sleep in it like a bedroom, but according to the appraiser, it doesn’t quack like a bedroom.

Thinking of Selling? Call Cathy & Jim Higgins for a Market Evaluation on your Home:

Ind: 219-577-5905  Ill: 708-828-3304.                         

Licensed Broker/Realtors in Indiana & Illinois

McColly Real Estate

Website: www.Cathyhiggins.com