Hi there, hope you are all doing well and enjoying the last month of Summer! We just wanted to post our August edition of Queens Homebuyer Connect. Feel free to take a look and let me know if there’s anything we can do to help you at this time.
As always, if you have any questions or need some real estate advice, feel free to Contact Us anytime.
Our Favorite Home Inspector
When you finally get an accepted offer on a property, the next step will be for you to schedule a home inspection. The inspector you decide to use can make or break your deal because some inspectors are alarmists, some are educational, and some are just not as thorough as you’d expect. This is why we always recommend QHT buyers to our favorite inspector Tony Christoforou at Touchstone Home Inspection.
Tony is thorough, knowledgeable, and explains things very well. He doesn’t scare buyers with every little item he finds, but he does teach buyers about the house they’re buying, things they can do to improve the property, and what items he would consider major concerns. When the time comes for you to conduct a home inspection, we would recommend you call Tony and tell him that the Queens Home Team referred you 🙂 If you’re buying a coop, home inspections aren’t very common so this may not be applicable.
Touchstone Home Inspection
ATTN: Tony Christoforou
How to Build an Emergency Fund
If you’re thinking of buying a home, one of the things you have to think about is having an emergency fund. Ideally you would have your emergency fund set aside before you close on a property, but if you can’t do that, just make that a top priority as soon as you close. Reason why is because once you’re a homeowner, there are a lot of expenses that can pop up at any time. Some expenses are voluntary and some are unexpected. When those unexpected expenses arise, you want to have funds set aside so that you can easily take care of them and not have to put a dent into your day to day living funds.
Rule of thumb is that you should have at least 6 months of your PITI (Principal, Interest, Taxes, and Insurance) saved in a separate account. If you are buying a condo or coop, then you would want to have 6 months of Principal, Interest, Maintenance/Common Charges, and Insurance. We recently read a good article on building an emergency fund (see link below). Take a look for more details and ideas on building your emergency fund.
5 Main Things that Affect your Credit Score
We recently heard a podcast where the host was talking about credit scores, and what the main things are which can affect them. Below is a summary as well as a link to the segment of the episode. Take a listen and feel free to reach out if you have any questions.
1. Payment History
2. How much Credit you Use
3. Age of your Credit History
4. Hard Inquiries
5. Types of Loans
Well, that’s it for this month 🙂 Hope you found this information helpful. If you have any questions or need any help finding a place, please let us know 😀