When looking for Indianapolis homes for sale, it's important to keep an eye out for problems that may cost an arm and a leg to repair once you've purchased the property. The first thing you need to do before committing to buying a home is to have it examined by a licensed home inspector that you trust.
An inspector will alert you to any major issues that might prevent you from buying a home as well as minor issues that you might be willing to fix yourself after the purchase. With a report on the current state of the home in hand, you'll be more prepared to negotiate with the seller, and you'll also have the information you'll need to walk away from a property that will demand costly fixes.
Types of repairs that you should probably try to avoid include major issues that can affect the livability or safety of the home. For example, replacing the roof can be an extremely costly repair that might need to be done before you're able to move in. Major plumbing fixes can also be expensive and painful to deal with.
Considering this, don't forget to have someone look at the pipes before making any final decisions about buying a home. You'll also want to have your inspector thoroughly go over the foundation of the property. If there is a crack in the foundation, the cost to repair it will usually be quite significant. On the other hand, if not repaired, it can pose serious problems for your home in the future.
Remember, a home doesn't need to be in absolutely perfect condition in order to be a good buy. Some buyers like finding fixer-uppers that they can make their own. For example, if you are interested in building the kitchen of your dreams, it may not matter what the kitchen looks like right now, but only how much space it has to offer.
If you're not particularly interested in performing any serious remodels, look for homes that are in good shape and won't require much work to make beautiful. For example, repainting the walls and updating the fixtures are both relatively low cost and simple tasks that can dramatically improve the look and character of a home.
Nonetheless, here are the most common problems to look for when purchasing a new property:
Starting outside and going inside, – from ground up to the ceiling and roof, check every corner of the home properly. Although you’re likely to work with a professional, you can come up with a rough idea of the home’s condition. It might help asking yourself these questions;
Are there visible cracks?
What is the condition of the wall?
Does the interior look compromised?
Are there broken pipes?
What is the condition of the roof?
Make a list of all the possible questions before visiting the property and answer each as you examine the home meticulously.
All rooms in the house, including the kitchen, bathroom, and storeroom, should have adequate ventilation and airflow. A healthier and happier family and fewer microbiological growth result from the house staying fresh and having less moisture growth inside.
Make sure you inspect a home's plumbing system when you go to inspect it. Although they are hidden gems within the house, they are a crucial and indispensable component of a cozy living space. Issues might arise from outdated plumbing systems in older homes. One possible cause could be a leak in the plumbing system or rust. Verify that the water is flowing properly and that all of the plumbing lines are in good shape. Additionally, you might look for potential plumbing errors if it's a new house.
Ensure that the house receives enough sunshine. Sunlight is crucial for maintaining a fresh atmosphere in the home. It keeps your home odor-free and naturally eradicates germs and other microorganisms. In addition, it promotes healthy plant growth in your garden and keeps the house warm in the winter.
Verify if the house has enough water supplies. Water is essential to every home. The main sources of water were once hand-dug wells, but nowadays the main sources are government water delivery lines and well drilled wells. It will be tough to obtain clean water at your home if these are not included in the house you buy.
If you’re looking to purchase Indianapolis Homes, it’s always wise to work with an experienced real estate agent, like the agents at RE/MAX Advanced Realty. By working with us, you’ll not only find homes that are well-suited to your individual needs, but also avoid properties that demand costly fixes and repairs.
There are several important factors to consider when purchasing a new home. Whether you're looking for a place to start a family, a place where your family can grow, or a place to meet your needs as your children grow up and move on, you'll want to weigh your family's needs as well as your tastes and desires before making your home-buying choice.
The first consideration you'll want to take into account is the location of your new home. If you have children or will have children soon, you'll want to make sure that your home is located within the boundaries of the best school districts.
You'll also want to consider the proximity of your new home to places like parks, grocery stores, shopping, nightlife, your work, and any nearby family or friends.
A RE/MAX Advanced Realty agent can help you make sense of all the neighborhoods that you're considering and provide you with insider advice regarding which areas might be best suited to your family's needs.
Once you've got your neighborhood picked out, you'll want to find a home that's big enough for your family. You'll want to consider the lot size as well as the size of the actual house. A big yard is great both for having a place for your kids to play safely and to give you the extra space you might need to add an extension to your house if you'd like.
Whether you're looking for a cozy two-bedroom or a sprawling five-bedroom home, your real estate agent can help you find all of the perfect Indianapolis homes for sale that might be right for you.
When looking for a new home, choosing the appropriate price range is crucial since you might pass up the ideal property. Additionally, you don't want to waste time viewing properties that fall short of your requirements since they are beyond your price range.
Finding no home at all because the price range you selected was not right is the only thing worse than finding your ideal house and learning the seller won't budge on price.
You'll also want to be sure to choose a well-constructed house. If you have the time to renovate a fixer-upper home, you'll certainly be making a good investment. But if you're like most families, you'll want to choose a house that is safe, sturdy, and ready to meet all of the needs of your family.
Having an agent on your side when you make your purchase will give you the confidence of knowing that your future home has been properly inspected and that all the right questions have been asked before you make your final decision.
The resale value of a property is important when buying new or pre-owned for several reasons. First off, the value of a house with strong resale value will usually exceed the amount of your loan. As a result, your net worth rises and you can use the equity in your house to refinance into a better loan or take out more loans for improvements and remodels.
Second, if you experience financial difficulties and must sell your house, you're more likely to acquire a selling price that is higher than the loan amount if your property has a high resale value. This would enable you to settle the debt and have money left over to deal with other financial difficulties or buy a more reasonably priced home.
Finding the ideal house will be made easier if you have a firm understanding of each of these aspects. You can figure out all of your needs and what you can afford by working with a reliable real estate agent. In this manner, your search will be restricted to only the houses that best fit your requirements.
Looking for a home in Indianapolis for your family? Check out these properties near you. You may also call us at 317-316-8224 if you have questions on home buying or selling.
In this day and age, it is quite rare for a person or family to have much control over when they move. Whether your growing family makes it so that you need more space or your job takes you to a new city, most people often have a window of a few months or at most, a year within when to move.
If life has made it so that you need to sell your house, or if you're one of those lucky few who has a bit more freedom in the choice, you're probably asking yourself if now is the right time to sell your Indianapolis home.
Prices are certainly lower than they were in years past, but that's not always a bad thing for people who are looking to sell. It may be that by selling your current Indianapolis home, you'll be able to upgrade to a bigger place or a nicer area without spending nearly as much as you would've had to in years past. This is also an ideal market for purchasing foreclosed homes, which can be bought for significantly less than their market value.
But, the question, however, is this: is NOW the best time to sell a house in Indiana?
When it comes to the best time to sell a home, it depends on your goals. For instance, are you going to put your property on the market for profit or sell it quickly?
The best time to list homes for sale in Indiana is in May, June, and July. In July 2023, the median selling price for homes was $258,600, which is expected to increase this 2024.
On average, homes stay on the market for 41-43 days during June and July. This makes it 10-15 days shorter than the rest of the month, making these months the best time to close a home sale.
However, there are people who have strict home-selling timelines, and these are usually the ones who have to relocate because of work location. Normally, they do this during November and December.
Properties listed at the beginning of the week, let's say Monday or Tuesday, often stay longer on the market.
If you want to improve your chances of selling your home quickly, list it on Thursday. This is the "pre-weekend" and they have time to look at online listings and plan their open homes tour.
As always, the best time to sell a home is during spring; however, if you want to sell it quicker and for a higher profit, it's recommended to list your property in late spring or early summer.
Putting your home on the market during these seasons is better because of the following reasons:
Winter, however, can still present a chance for a warmer climate home sale. Investing in a vacation home is the reason why buyers travel to Indiana.
When selling a home, here are the things you need to consider:
Work - Whether it's a better job offer or a current one requiring you to move into a new location, this might force you to sell your home in the market.
Neighborhood - Perhaps you're looking for a home closer to your kid's school or you want a safer school, this might call for a relocation.
Divorce - After a divorce, the ex-couple might decide to sell a home for practicality and perhaps, sentimental reasons. That said, moving to a home is not just an option but a decision to make.
Interest Rates - The demand for mortgages is increased by lower interest rates. This has an impact on the real estate market, which raises property prices.
Economy - The employment rate, GDP, manufacturing activity, cost of goods, and other economic variables all have an impact on the Indiana real estate market.
Government Policies - The government can introduce tax credits, subsidies, and deductions to establish a housing market that is advantageous temporarily.
Downgrading - You can sell your bigger home and move into a smaller one if you're trying to reduce your property taxes, homeowners insurance, and HOA dues.
Affordability - The affordability of buyers is influenced by the average mortgage rate. Make sure to find out ahead of time whether interest rates are rising or falling.
Equity For A New Home - You can sell your current house when the equity has grown to the point where an adequate down payment is required.
Want to know more about Indiana's real estate market?
To learn more about the current housing market and find out how your home would fare compared to other Indianapolis homes for sale right now, talk to us today so we can assist you with your concerns.
By working with an agent at RE/MAX Advanced Realty, you can be sure that regardless of market conditions, your home sale will be handled professionally and as quickly as possible. A RE/MAX realtor can also help you find your next home, wherever you may be looking.
Providing the best service for our clients in getting their dream home is our mission here at The Indy Home Pros Team. We guarantee that you’ll surely get the finest home with us!
This awesome two story home in 3518 W County Road 200, Danville, IN is one of the finest in town. It comes with a large great room, a master suite with double vanity and a nice deck in the backyard that will offer you a panoramic view on the landscaping. This home got plenty of upgrades and updates for you to enjoy. Having this home will surely fulfill your desire of a perfect home.
We would love to schedule a show for you anytime! For additional information please call us at 317-298-0961.
Having your own home is dream people nurture, but not everyone would be financially competent to own a home. So before you start dreaming of your own home ensure that your finances are ready because you don't want to struggle to make money later on. Here are certain things to consider when you buy a Indianapolis homes:
Find a mortgage broker
You need to choose a mortgage broker before you start with home hunting. A mortgage broker is a person who stands between you and the bank and help you get the funds needed to purchase a home. The broker will help you with the paperwork and passes on the same to the bank/lender. While the brokers do not lend money to people themselves, they help in finding the right loan for them. It is under their sole advice that most homeowners apply for loans and get them.
Order a free credit report
It is a known fact that to apply for home loans, you must have good credit reports. Of course, there are many ways to get your credit report, but you have to pay for them. You can also request by mail or telephone. To get the free report, you need to send in two copies proving your identity; could be your health card, diverse licence or social insurance card.
Determine a down payment
To determine your down payment, you need to figure out how much you are willing to pay and how much you would have to borrow. If you can pay around 20% of the price of the home, then it would be perfect because then you would qualify for conventional mortgage. As majority of Indianapolis homeowners are couples in their 20s and 30s, they are looking to spend somewhere between $320,000 and $370,000. The basic thing is this - the more you pay for your down payment, the less you pay as mortgage fees.
Get a pre-approval or pre-positioning letter from mortgage broker
Having an official letter signed by your mortgage broker would prove that you are capable of getting a loan. The broker should be competent enough to ask the client the necessary details before handling the paperwork for pre-approval.
If you find yourself in a situation where a move might be a good thing for your family, you're probably wondering whether now is the right time to sell your home. It may be that you have a new job that you'd like to move closer to, or you've had another child and your current home simply isn't big enough. Whatever your reason for moving, you can rest assured that the current Indianapolis real estate market is on the mend and now is actually a great time to consider selling your home. Every indicator is pointing toward growth and prosperity in the Indianapolis housing market. According to real estate website Trulia.com, the median sales price of Indianapolis homes between April 13 and June 13 was $124,864. That price point represents a 37.6% increase compared to the previous quarter and a 64.3% increase compared to the previous year. Imagine if your stocks went up that much in a single year! It seems likely that home prices will continue to go up over the next few years, but you never quite know what's going to happen with the housing market, so if you're thinking about selling now, you can feel confident that you're making a wise decision.
Across the nation, people are receiving multiple offers on homes and are frequently selling for their asking price or even a little bit more. With the right realtor on your team, you can assess the current value of your home and have a good chance of selling for that value within a matter of months or even weeks. Some people are even selling their home the same day that it goes on the market. If you're in a rush to sell, speak with an experienced agent at RE/MAX Advanced Realty to determine the best way to go about listing your home so that it will sell quickly but also at a fair price. Some of the most popular neighborhoods in Indianapolis right now are Irvington, Pine Ridge Estates, Fountain Square, Old Northside, Devington, and Fletcher Place. If you live in one of these areas, your house could sell quite fast. However, no matter where you live in Indianapolis, now is a great time to consider putting your house up for sale if you’re ready to move on. To discuss the possibility of listing your house on the market, take the time to call 317.298.0961 so you have the chance to speak with an experienced real estate agent from the RE/MAX Advanced Realty team. The team is always willing to provide sellers with information about current market conditions in the state of Indiana and to address any questions sellers may have before listing their properties.
8313 W. 10th St
Indianapolis IN 46234
dennis@indyhomepros.com
317-316-8224