3 Major Must-Haves In Your First Home

Buying your first home is an exciting decision! When you enter the market as a first-time homebuyer the possibilities seem endless. Even though things like granite countertops and hardwood floors may be high on your priority list, consider these three crucial factors when you are ready to begin your search.

1. Location. This is the one thing you can’t change about your house and a major factor in your home’s resale. Before you start viewing homes, do you your research and figure out what areas are a good fit. How is your commute? Are the local schools up to your standards? There’s lots to consider so working with an experienced real estate agent is a great place to start.

2. Price. This is especially important for a first time buyer because there is no equity to roll into the home purchase. It’s always helpful to get pre-approved before you begin your search especially in a competitive market. Remember that the amount you qualify for is likely not the amount you want to spend. Come up with a firm budget and stick to it so you’ll live a comfortable life.

3. Size. Wanting the 5-bedroom farmhouse with 1 acre of land may sound appealing but is it practical for your needs? Start by thinking about life in a condo vs. life in a single family home. Both have their pros and cons and both have their own set of expenses. Will you have time to maintain a big yard? Can you afford the HOA fees? Many real estate experts agree that you should be able to live in your home for at least five years, and maybe even longer!

More and more ‘starter’ homes are turning into ‘forever’ homes so there’s lots to consider during the process. Let your team of experienced agents at Premier Property Solutions help you find your perfect first home.

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Spotlight on lake life

Even though Charlotte is hours away from the Atlantic Ocean, there’s still plenty of opportunities for waterfront fun in the Queen City! Charlotte is home to three beautiful lakes all with their own communities. With spring right around the corner, we’re highlighting some of our favorite things about lake life in Charlotte.

Easy commute! Lake Norman (about 25 miles from Uptown), Lake Wylie (about 20 miles from Uptown) and Mountain Island Lake (about 15 miles from Uptown) are all a short drive from the city making them the perfect destination for a weekend getaway. Residents of the lakes enjoy convenient access to major highways that help make the daily commute into the city easy!

Great recreational activities. From boating to fishing, sailing and water skiing, Charlotte’s lakes make summer days a blast. When temperatures heat up in the Queen City, the lakes are the place to be! Each lake is full of its own culture, entertainment, activities and some pretty amazing restaurants.

Natural setting. Lake life in Charlotte is perfect for residents and visitors who enjoy tranquil, serene settings. All three lakes preserve their own natural beauty providing a great community for both work and play only miles from the City of Charlotte.

Want to learn more about buying or selling in Lake Norman, Lake Wylie or Mountain Island Lake? Email one of our agents today team@mypremierproperty.com

What is a Comparative Market Analysis?

As a homeowner, deciding to sell your home is a big decision! When you are ready to list your home, one of the first things your realtor will do is prepare a comparative market analysis to better help determine your home’s current value. The comparative market analysis (CMA) is an in-depth evaluation of how your home compares to the competition. A CMA will compare homes in your area that are currently listed and those that have recently sold in an effort to prepare your home to enter the market at a competitive price.

A CMA considers a variety of factors such as square footage, number of bedrooms & bathrooms, lot size, additional amenities and more. It is a fact-based report that considers your home and all of its surroundings. Remember, you might have a good idea of what you think your home is worth based on how much your neighbor’s home sold for last month but that is not always the case. There are many resources that experienced real estate agents have access to that sellers do not.

Ready to find out what your home is worth? Take advantage of our FREE market analysis prepared by a local experienced agent from Premier Property Solutions.

The Real Costs of Renovations

There comes a time in every home owners life when the urge to renovate strikes. Whether you’ve been in your home for 20 years and it’s time to update your kitchen or you’ve just bought a fixer upper, people often wonder how much it really costs to renovate a house. The answer, of course, depends on a variety of factors but here’s what you can expect…

According to realtor.com, average renovation costs are as follows:

• Low ($25,000 to $45,000): Interior and exterior painting, small repairs (like refinishing cabinets) and new landscaping.

• Medium ($46,000 to $75,000): The low-cost upgrades above, plus a total kitchen renovation and minor bathroom upgrade.

• High ($76,000 and up): Low- and medium-cost upgrades, plus fixing any foundation issues, roof and sewer line problems. 

These numbers are only a guideline but it’s important to understand the expenses especially if you are buying a home that needs work. Renovating a house is a great way to customize your home but the costs can add up quickly!

source for renovation estimates: realtor.com