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Buying A Second Home in The Villages?

What To Consider Before Buying A Second Home in The Villages


Are you thinking of buying a property in The Villages, FL as a second home, perhaps as a vacation residence, a rental property or an alternative place to live near your family? A second home can be a great investment, can improve your lifestyle and can bring you rental money. However, there are a number of things that you need to keep in mind when you are buying a second property.


Do Your Research

Don’t get too carried away with the idea of a second home in a specific area, before you have actually done your research and learned about that area in depth. Even though it is your second property, it is still a major investment so it makes sense to do your homework first.

Don’t Forget The Extra Expenses

When you own two properties, you will also have to pay twice for electricity, insurance, taxes, repairs, utilities, furniture and much more. Make sure that you factor in the additional expenses of owning a second home so that they don’t catch you by surprise.

second home

Watch Out For Higher Interest Rates

Did you know that interest rates on second home loans are often higher than the rates for primary residences? This might only be a quarter of a percentage point, but this can really add up over the lifetime of the loan. If you are able to come up with a larger down payment you will be able to reduce the total interest on the loan and save yourself a significant amount of money over the years.

Buying a second home is a major decision, so make sure that you take all of these factors into consideration before you make your final choice.

Mistakes To Avoid When Buying A Foreclosure

Avoid These Mistakes When Buying A Foreclosure

Buying a foreclosure can be a great way to save money on a new home, but you need to exercise a certain amount of caution. Although foreclosure discounts can significantly lower the cost of a home, you can also end up in over your head financially if you’re not careful.
Avoid making these common mistakes when buying a foreclosure:
* Not hiring a realtor: Foreclosure transactions are much more complicated than the traditional home buying process. You’ll need the help of a professional agent who specializes in foreclosed homes.
*Not checking on state and local laws: To avoid legal issues, it’s important to know the laws on buying foreclosures. The contract has to adhere to these laws or it could be invalid.


MSIA Property - Foreclose tips
*Not thinking long-term: Make sure the foreclosed home you buy will be a good investment ten years down the road. If you don’t think that far ahead, you could be investing in property that will decline in value.
*Not saving for repairs: Set aside at least 10 percent of the home’s cost for repairs. Don’t just look at the cost of the home when determining your budget. Repairs are commonly needed in foreclosed homes, especially ones that have been vacant for awhile.
*Not narrowing down your search: It’s easy to find foreclosed properties in any part of the country, but it’s best to focus on a specific area to avoid being overwhelmed. Work with a real estate agent in that area to find a home that suits your needs.
*Expecting significant foreclosure discounts: Don’t assume that the bank will take a big chunk off the price of a foreclosed home. You’ll still need to negotiate for that.
For more information on foreclosures in Central Florida, contact us.

7 Things You Can Do To Slash Your Electric Bill

7 Things You Can Do To Slash Your Electric Bill


Make Energy Efficiency Your Electric Company’s Business

When you first move into your home, have your appliances inspected by an authorized technician. You could call your appliance’s manufacturer or the electric company to find someone to inspect your appliances. If you do find yourself on the phone with the electric company, ask them if they have peak and off-peak hours. Often, there are times throughout the day where usage is at a premium, and the cost is higher than it would be at other times. You should also ask if they have any tips or resources pertaining to your home’s electrical usage. Electrical companies will often send you literature or an energy saving kit that can help make your home run more energy efficiently.

Get Fresh Furnace Filters And Examine Your Central Air System

When you move into a new home, it’s difficult to know what kind of upkeep the previous owners performed on the furnace. Upon moving into your new home, you should have the filter on your furnace changed and your ducts examined and cleaned. Do the same for any central cooling systems in the home. This way you’ll feel confident that they are operating properly and producing the best air quality possible.


Wrap And Warm Your Hot Water Tank

The hot water tank is another area where you can save a significant amount of money. Set your hot water tank to a warm setting, instead of a hot one (this makes little difference in the water temperature at your tap, but it will save you money). You could also purchase an insulating cover for the tank, and wrap the hot water pipes in the home. Insulation for your hot water tank and pipes is a cost-effective solution, and you can find plastic or foam pipe insulators at your local hardware store.

Evaluate The Situation From Windows To Insulation

Check the windows and doors of the home to make sure they are properly insulated. Fresh weather stripping and caulking will keep drafts out in the winter, and cool air in during the summer. Another way to regulate your home’s temperature is to replace the insulation in your attic. You could also install an attic fan to improve airflow.

A Bright Energy Saving Idea

Replace incandescent light bulbs with fluorescent bulbs. The cost is only slightly higher, and fluorescent bulbs last over five times as long as incandescent bulbs. Fluorescent bulbs give off a softer light, but are bright enough to light your home and will save a significant amount of electricity.

Get Your Windows Working With The Weather

Replace thin curtains with heavier weight window coverings. You can use the sunlight when you need it, and block it out when you don’t. Heavy drapes are also great at keeping warm and cool air in your home. Having high quality window treatments may mean you use your thermostat and light switches less.

Properly Power Down Your Electronics

A surprising amount of the energy our electronics use is wasted while devices are powered down. Electronics that are off but are still plugged directly into an outlet do indeed burn energy. When you set up the electronics in your home, use power strips where you can. Flicking the bar off when electronics are not needed will lead to savings on your electric bill.

Once you have taken these steps, you can feel good knowing you are saving money and being environmentally responsible. Energy efficient handy work and home improvements also qualify for significant tax credits. Make sure you keep your receipts and invoices, as they could mean cash back in your pocket come tax season. If you decide to take your savings and move up and out, contact us for assistance in finding the perfect place to call home.