Buying your first home is an exciting and rewarding experience, but it can also be challenging and stressful. There are many steps involved in the home-buying process, and you need to be prepared and informed to make the best decisions for your future.

New Hampshire is a great place to buy your first home, with its scenic landscapes, diverse communities, and affordable housing market. However, you also need to be aware of the specific laws, regulations, and programs that apply to home buyers in the Granite State.

To help you navigate the home-buying process in New Hampshire, we have compiled a checklist of the most important steps you need to take before you sign the contract and get the keys to your new home.

Step 1: Decide if You Are Ready to Buy a Home

Buying a home is a major financial commitment that requires careful planning and budgeting. Before you start looking for homes, you need to ask yourself some questions:

• How much can I afford? You need to determine how much you can comfortably spend on a monthly mortgage payment, as well as other expenses such as property taxes, insurance, maintenance, and utilities. A general rule of thumb is that your housing costs should not exceed 28% of your gross income. You can use online calculators or consult with a mortgage lender to estimate how much you can borrow based on your income, debt, credit score, and down payment.
• What is my credit score? Your credit score is a number that reflects your credit history and your ability to repay loans. It affects the type and rate of mortgage loans you can qualify for. The higher your credit score, the better your chances of getting approved for a low-interest loan. You can check your credit score for free once a year from each of the three major credit bureaus: Equifax, Experian, and TransUnion. You should also review your credit report for any errors or discrepancies that could lower your score or hurt your chances of getting a loan.
• How many liquid assets do I have? Liquid assets are cash or assets that can be easily converted into cash, such as bank accounts, stocks, bonds, or mutual funds. You will need liquid assets to pay for the down payment and closing costs on your home purchase. The down payment is the amount of money you pay upfront for the home, usually between 3% and 20% of the purchase price. The closing costs are the fees and charges associated with finalizing the transaction, such as appraisal, inspection, title search, recording, attorney, and lender fees. The closing costs typically range from 2% to 5% of the loan amount.

Step 2: Get Preapproved for a Mortgage Loan

A mortgage loan is a loan that you use to buy a home and repay over time with interest. Getting pre-approved for a mortgage loan means that a lender has reviewed your financial situation and agreed to lend you a certain amount of money at a certain interest rate. Getting preapproved has several benefits:

• It shows sellers that you are serious and qualified to buy your home.
• It gives you an idea of how much you can afford and what your monthly payments will be.
• It helps you narrow down your home search to homes within your price range.
• It gives you an edge over other buyers who may not have preapproval.

To get pre-approved for a mortgage loan, you will need to provide the lender with some information and documents, such as:

• Proof of income (pay stubs, W-2 forms, tax returns)
• Proof of assets (bank statements, investment statements)
• Proof of identity (driver’s license, passport)
• Credit report and score
• Debt information (credit card balances, student loans, car loans)

The lender will then verify your information and issue you a preapproval letter that states how much they are willing to lend you and under what terms. You should shop around for different lenders and compare their offers before choosing one.

Step 3: Find a Reputable Real Estate Agent

A real estate agent is a professional who helps you find and buy a home. A good real estate agent can make the home-buying process easier and smoother by:

• Helping you find homes that match your criteria and budget
• Scheduling showings and tours of homes
• Negotiating with sellers and their agents on price and terms
• Preparing and submitting offers and counteroffers
• Handling paperwork and contracts
• Coordinating inspections, appraisals, repairs, and contingencies
• Representing your interests throughout the transaction

When choosing a real estate agent, you should look for someone who:

• Has experience and knowledge of the local market
• Has good communication and negotiation skills
• Has positive reviews and references from past clients
• Has a compatible personality and style with yours
• Works for a reputable brokerage or agency

You can find a real estate agent by asking for referrals from friends, family, or coworkers, or by using online platforms that match you with agents based on your preferences and goals. You should interview several agents before hiring one and sign a buyer’s agency agreement that outlines their duties and fees.

Step 4: Search for Homes and Make an Offer

Searching for homes is the fun part of the home-buying process. You get to explore different neighborhoods, styles, and features of homes and discover what you really want in a home. You should make a list of your must-haves and nice-to-haves and prioritize them according to your needs and preferences. You can use online tools or apps to browse homes for sale in your desired areas and price ranges or ask your agent to send you listings that match your criteria.

Once you find a home that you like and can afford, you should make an offer to the seller. An offer is a formal proposal that states how much you are willing to pay for the home and under what conditions. Your offer should include:

• The offer price
• The amount of earnest money deposit (a refundable deposit that shows your good faith and commitment to the deal)
• The type and amount of financing
• The closing date
• The contingencies (conditions that must be met before the deal is final, such as inspection, appraisal, financing, title, etc.)
• The items that are included or excluded from the sale (such as appliances, fixtures, furniture, etc.)

Your agent will help you prepare and submit your offer to the seller’s agent and negotiate on your behalf. The seller can accept your offer, reject it, or make a counteroffer with different terms. You can accept their counteroffer, make another counteroffer, or walk away from the deal. This process can go back and forth until both parties agree on the final terms or one party decides to end the negotiation.

Step 5: Complete the Home Inspection and Appraisal

Once you have a signed purchase agreement with the seller, you need to complete two important steps before closing: the home inspection and the appraisal.

The home inspection is a visual examination of the physical condition and systems of the home by a licensed professional. The inspector will check for any defects, damages, or safety issues that may affect the value or livability of the home. The inspector will provide you with a detailed report of their findings and recommendations for repairs or improvements.

The home inspection is usually optional but highly recommended for buyers. It can help you identify any potential problems with the home and request repairs or credits from the seller before closing. It can also give you an opportunity to back out of the deal if the inspection reveals major issues that are unacceptable to you.

The appraisal is an evaluation of the market value of the home by a certified appraiser. The appraiser will compare the home to similar homes that have recently sold in the area and adjust for any differences in size, condition, features, and location. The appraiser will provide you with an appraisal report that states their opinion of the home’s value.

The appraisal is usually required by your lender to ensure that they are not lending you more money than the home is worth. If the appraisal comes in lower than your offer price, you may have to renegotiate with the seller, bring more cash to closing, or cancel the deal.

Step 6: Finalize Your Mortgage Loan

After completing the inspection and appraisal, you need to finalize your mortgage loan with your lender. This involves providing any additional information or documents that they may request, such as updated income or asset statements, proof of homeowners insurance, or title insurance. Your lender will also verify your employment status and credit score before issuing you final approval.

Before closing, your lender will provide you with a closing disclosure that summarizes all the costs and fees associated with your loan. You should review this document carefully and compare it to the loan estimate that you received when you applied for the loan. If you have any questions or concerns about your loan terms or closing costs, you should contact your lender immediately.

Step 7: Close on Your Home

Closing is the final step of the home-buying process where you sign all the necessary paperwork and pay all the required fees to complete the transaction. Closing usually takes place at a title company or an attorney’s office where both parties meet with their agents and representatives from the lender and title company.

At closing, you will need to:

• Bring a valid photo ID
• Bring a cashier’s check or wire transfer for your down payment and closing costs
• Review and sign all the loan documents
• Review and sign all the title documents
• Receive the keys to your new home

Congratulations! You are now officially a homeowner in New Hampshire!

Step 8: Move into Your New Home

Now that you have closed on your home, it’s time to move in and enjoy it! Moving can

Summerview Real Estate, LLC is located in Derry, NH, United States, and is part of the Real Estate Industry. Summerview Real Estate, LLC has 13 total employees across all of its locations. There are 2 companies in the Summerview Real Estate, LLC corporate family.

This company is very famous in the world because they sold houses at a very good price and a very good quality. They help housing companies to find clients a lot easier due to their connections, and at the same time, they help people all around the world to find a new home easily and at a very reasonable price.

They also help people who want to sell their house and property or people that want their house to be rented. They cater to residential rental or a commercial warehouse, retail space. They are experts in finding clients at a very quick time; the inventory turnover of this company is very good.

ADVANTAGES OF SELLING OR FINDING HOUSE/PROPERTY, RESIDENTIAL RENTAL OR COMMERCIAL WAREHOUSE THROUGH SUMMERVIEW REAL ESTATE

Seller’s perspective:

In selling house/property, the advantage of selling it through Summerview Real Estate is that it is easier to find prospective clients because they are already known for selling something the like, that is why when people want to buy something immediately they will coordinate with the real estate and if lucky enough, he/she will buy the house/property you are selling.

They are legit sellers, so people will trust what is being sold and will buy over and over again, so if you have a lot of properties to sell, the turnover is faster.

They will take care of everything, selling and marketing expenses are covered. Efforts in making marketing strategy are to them, so it is less hassle to your part, all you need to do is wait until the house/property is sold.

Landlord’s perspective:

In having a house or commercial warehouse that is for rent, the advantage is they are the ones who will find people to rent your house or commercial warehouse. For example, in having a house, instead of having a hard time finding people to rent your house, they will be the ones who will look for it; and if you have a commercial warehouse they are the ones who will endorse your warehouse to businessmen who need your space, so it is easier to find because they are already trusted by their loyal businessmen, so your space will be trusted easily.

They will take care of everything, marketing expenses are covered. Efforts in making marketing strategy are to them, so it is less hassle to your part, all you need to do is to wait that your house or commercial warehouse will be rented, and if the time comes that the house or space will be available again, they will find another one for you. It will be a non-stop business going on.

Also, your house or commercial warehouse being rented is assured that the people who are renting it are trusted people, you can assure that your assets are taking care of and there will be less future renovations will be done.

Buyer’s perspective:

In buying a house/property, the advantage of buying it through Summerview Real Estate is that, there is a lot of choices, depends on your taste and preferences, you can find a lot of different varieties in just one source, so it is less hassle for you in choosing the best house/property that you like in the right location.

You cannot make force buy that you will regret later because sometimes people will just buy a house/property to other people without being totally happy, they will just buy it because they urgently need it and there’s nothing else aside from that house/property; but if you will choose it from Summerview Real Estate, you will not buy something that you will regret later, because of the variety of choices, and you can also compare prices which can help you choose which is more affordable.

Here all items are legit, so, therefore, you are very safe from scammers. As we all know that land Papers and Titles are very complicated, and some people will manipulate them in order to steal money from you. For example, if you buy a house/property from someone, he/she shows you complete Papers and Title of it, so you brought the house/property, but little did you know that those Papers and Title is not authentic, it is actually owned by someone who is out of town and no intention of selling it when that owners come back, he/she can reclaim his house/property without any payment, so the money that you used in paying it will be scammed. So it is safe to buy from Summerview Real Estate.

Renter’s perspective:

In finding someplace to stay temporarily, or some warehouse to place your inventory for a business, it is less hassle to find it through Summerview Real Estate because there are a lot of choices, and you will get something worth it of what you’ve paid for. For businessmen, it is easy and quick finding an available warehouse through this company.

DISADVANTAGES OF SELLING OR FINDING HOUSE/PROPERTY, RESIDENTIAL RENTAL OR COMMERCIAL WAREHOUSE THROUGH SUMMERVIEW REAL ESTATE

Seller’s perspective:

When you sell something, you will have an amount that you want to ask for your house/property because that is the amount that you believe that your house is worth. But when you sell something through Real Estate, sometimes due to the high price that is being reflected in your house, it will be hard to sell it, that is why sometimes you will be forced to let it go at a lower price so that you can let it go before it will be more depreciated.

Buyer’s perspective:

It is more expensive than the actual price of the house/property because the company will add extra price for the Selling and Marketing expenses, they are also being paid for the service that they give to the seller that is being added to the price, and they will also add to the price the efforts being used in ensuring that the Papers and Title of the House/Property being sold is legit and free from any other hidden bad things that will lead to a scam.

As the name suggests, property investment is the purchase of a property where that property is then enhanced or leased out in the market to earn a return on investment. It is something that you have to plan out carefully and not just waste your money into something that might not be beneficial to you in the long run. Some people, unfortunately diverge into property investment where they actually fail and did not get a return on investment in the field that they have chosen. Some people though, investment for themselves as they want to use the property investment and some people invest for business.  Investing is a risky but as an adage goes, “more risk, more reward.” And definitely more and more people think that by swimming into a pool of risks, there will be definitely a sea of reward at the end. This is definitely not the case that we are dealing with. It is true that in business , you should risk a lot of time , a lot of money but we don’t just wander around the investing world purchasing properties, acquiring houses and buildings without knowing how to turn these risks into a beautiful reward.

We have some tips though that will definitely help property investors lessen the menace of resulting into losses rather than gaining the profit that they mostly deserve – whether be a personal gain (which includes a happy life and a happy home) or profit margins.

Location, Location, Location

Location is one of the key factors to consider when getting a property investment. A good location could mean differently to different kinds of people. For instance, one person might want to get a tranquil life, thus, he might want to  live in the mountain parts, or near a lake where everything is just so peaceful and quiet BUT another person might want to live in the city because their office is there and they will have more access to a lot of thing like hospitals, malls, schools, and the like. Depending on your personal preferences, it is you who should choose where to invest in. As long as the location you have chosen is the most convenient for your daily life, then go for it.

In the business perspective though, it is also the same but it might be wiser to invest in properties near nature with breathtaking sceneries. You can opt it out in the market and have it leased out as a vacation house. For instance, a beach property or lakeside property. More and more people are drawn to the ocean or lakes these days as their means of finding serenity and happiness to walk away from all the stress their daily life is giving them.

Buy for Less. Sell for More.

Most investors buy abandoned houses and properties, renovate them and sell for a much higher price. This idea is much better than buying a beautiful new home and then sell it after. Imagine, no one would want an old abandoned house. After all, it looks scary and a place where no person would ant to live in so the previous owner of the house will sell their house for a low price. And then, the investor comes in and makes it a dreamy house to  live in. More people would want it and more people would mean a great market. A great example for instance, is an old abandoned house is this old house on the left bought by Rick and Michele D. The house was so old an abandoned that the front porch, as you can see, is falling off, windows are broken outside and it has been set on fire for a few times. It looks broken and malformed on the outside, how much more on the inside. So the two purchased this property for only $1. People might think that they must be crazy for buying such property considering it might not be good for inhabiting anymore. But I say they’re really lucky to get the chance of buying it for only $1.

Nobody would want to live, rent nor buy an abandoned and broken house. So, the family got their hands busy for renovation. Renovations can vary from fixing small problems in the house to adding a pool in the backyard (which may be costly). In order to make a good renovation, you should have a plan beforehand and you should consider all the expenses that would be spent for the materials and labor.

In a year and a half, the family was able to restore the beauty of the house with as little cost as possible. If you look at the house on the right, you will never know this house was actually bought for $1. They can even sell it for a much higher price in the market if the family would plan on selling it.

Think about REIT

REIT (Real Estate Investment Trusts) is a great way of earning income with properties when you think a full ownership of a property is too risky at the moment. To better understand what REIT is, it is where your money along with other investors’ money is being gathered altogether that invest in a portfolio of income generating real assets such as hotels, offices, rental apartments, etc.

So, investors invest their money, the money raised is used by the REIT to purchase a pool of real estate properties. These properties are then leased out to tenants where the income is being distributed back to the investors. It’s a great way to start with less risk on your hands.

Invest Overseas

Investing overseas is a great idea to expand the horizons for there will be broader market exposure. Asia , for example. There are a number of emerging markets in Asia which follows  free-market economic policies. This kind of economies will grow rapidly compared to currently developed market economies. If you consider this idea in the future, you would probably need to search which countries has the least expensive properties. But of course, don’t be tempted to quickly jump into the opportunities without having to consider all other aspects. At least think about getting properties in tourist spots. That way, there will always be cash inflows plus you will hit two birds with one stone when you plan on visiting the site – business and vacation.

As what most people say, “Home is my happy place.”  A home is an enjoyable, pleasurable place where we can live peacefully, be carefree and be happy. To some, this is an old place where life started, where first baby steps are taken – where life actually begins. To others, this is a new place for a new beginning, trying to start over and build a satisfying life with their whole new family and create whole new unforgettable memories. However, to some, this is not the case and a home is only composed of a house – just a plain building, where family members live but estranged with a lack of connection.

But, no matter what home means to each person – whether it’s an empty house filled with strangers in our lives or a place where love and happiness is the foundation – we can never deny the fact that each one of us long for a place where we can be ourselves and be able to express the inner artist within us and one way of expressing the inner us is by beautifying our houses which make each home distinct from other houses.

One trend that has been going on since 1970’s is designing our homes with indoor plants. From decorating the living room to our bathrooms with different varieties of plants, we are ought to reveal the designer that lurks within us, making every part of the house as renewing and invigorating as possible. What is more exciting is it not only make our houses a lovely haven but a healthy home as well providing us an abundant supply of oxygen that is freely given by these gorgeous plants.

During the COVID pandemic, people have been dealing with anxiety and stress COVID has been causing us and for these past few months, not only are our we facing a threat of catching the NCOV virus but this global crisis also poses a threat to our mental state by not allowing us to get out of our homes. One way of coping up with the strain and pressure it has all been giving us was by households diverting their attention into planting greens and decorating their homes with different kinds of plants.

Aside from being use as an interior design, here are some benefits we get from plants.

Plants are stress-relievers. Plants are proven to reduce stress and anxiety. Have you tried going outdoors, have a walk with nature and do nothing else but stare at the trees and plants we encounter along the way? It gives us composure and tranquility – one we can never get from our stressful life. But, instead of going out, why not bring these stress-relievers inside our house? According to a study, Journal of Physiological Anthropology, active interaction with indoor plants creates positive feelings thus reducing physiological and psychological stress. Cultivating plants not only make our houses beautiful but it also soothes us from the tension life has been giving us. Plants provides people with a positive way to channel their stress and frustration into something beautiful that provides them with comfort and joy.

Plants enhance air quality.  Air pollution is not only present outdoors but also exists indoors and could be a lot more contaminated.

According to Smarter House, there are different kinds of indoor air pollutants which pose a threat to our heath from simple allergies to lung cancer. Different toxins are present inside our houses which we acquire from simple and common sources present in most houses- such as furniture, carpets, paints -and could be toxic to human health if these toxins accumulate.  Plants not only beautify our homes but they also absorb toxins and can improve indoor air quality. It improves air quality through several mechanisms: they absorb carbon dioxide and release oxygen through photosynthesis, they increase humidity by transpiring water vapor through microscopic leaf pores, and they can passively absorb pollutants on the external surfaces of leaves and on the plant root-soil system.

Now, you might want to give it a second thought and make “plants” in your home decoration checklist. You must be wondering right now what kind of plants are good for indoors? Well, worry no more as for starters, we have some list that you might take into consideration. Let’s not just talk about making your house aesthetically beautiful but also beneficial to our health.

Some plants to consider:

Guiana Chestnut

Guiana Chestnut, most commonly known as the Money Tree, has been first popularized as a houseplant in Taiwan in the 1980s, the Money Tree is well known among those who practice Feng Shui and is believed to create positive “Chi,” or energy in the home. Stick it in a spot with bright, indirect light and water regularly, preferably near windows.

 Yucca

Yucca plants are striking and low maintenance—a perfect combo for ideal houseplants. Yucca plants do best in a partly shaded location that receives bright, indirect light. Just water them sparingly but if you notice they look too thirsty, well maybe add a little bit more water.

Although yucca plants may grow in sunnier spots, their appearance could suffer from brown tips or white spots on their leaves. You might want to re-pot your yucca plant in the future. It’s easy and will of course save you some money!

Peace Lily

The peace lilies (not a true lily), of the genus Spathiphylla, are easy-growing, vigorous tropical herbs forming clumps; they have green foliage and a succession of flowerlike leaves (spathes), usually white. They’re beautiful and easy to take care of. Keep the soil moist, but do not overwater. Peace lilies can tolerate short periods of dry soil, but their leaves will start to brown if neglected for too long.

They can also grow even without soil – just them in a vase, make sure the water can reach the roots but water level should be below the base so the stem and leaves won’t rot from being constantly wet.

Aloe Vera

Aloe vera is a stemless or very short-stemmed plant with thick and fleshy, green to grey-green leaves. It’s easy to grow and requires too little attention. Aloe has been known for its benefits – from healing wounds to lowering blood sugar levels –  and has been used in cosmetics and some ointments. Next time you go shopping indoor plants, add aloe vera on your must-have lists.

 

Mother-in-law’s Tongue

Mother-in-law’s tongue (one of many sansevierias) is tough to kill. It is very tolerant to low light levels but equally as happy in sunlight. Frequent watering is not required and can even go a month without watering it (but don’t be too harsh).

The leaves are typically tall, stiff, and vertical, earning it the other nickname “snake plant.” This beautiful evergreen has long, stiff, and dark-green, vertical leaves, which feature striking light-green bands. It absorbs toxins, such as nitrogen oxides and is great for improving indoor air quality.

The next time you beautify your house, think about adding indoor plants.  As mentioned previously, they not only enhance the exquisiteness of your home but also has beneficial effects to the people living in the house. Some people use different pots that make it look hilarious. Some make it creepy. There are a variety of plants you can choose from and a number of ways to express your own style. Just be creative enough.

Investing in residential real estate is quite different from commercial real estate. That’s mainly because you can find some prominent options available to consider. If you are planning to buy a new home, you need to have a clear understanding of the different options that you can go ahead with. Then you will be able to analyze all the options available out there and make sure that you go for the best one among the houses for sale in Southern NH.

Here are the most prominent types of residential properties available for you to invest in.

• Single family homes

single family homes are constructed within a single lot. There are no shared walls in this type of property. If you are looking forward to getting more privacy, you should be looking into one of the single family houses for sale in Derry New Hampshire. You can get a private front yard as well as a back yard. As you are not sharing the lot with anyone else, you are provided with complete freedom to express yourself and make the home truly yours inside and out. It is up to you to complement that by purchasing the best type of house available to get.

• Condominiums

Condominiums, which are also known as condos are single units inside houses, which are located within a large building. You can find an entire community within that large building. Condos are usually sharing a wall or two along with other units. They are associated with homeowner’s associations as well. Hence, you will have to keep on paying a monthly fee or an annual fee for maintenance.

Condos are quite popular within the urban areas, where there is not much space. One of the benefits that you can experience by investing your money on condos for sale in Derry NH is that you will get the opportunity to reduce the overall money that you are spending on maintenance. For example, if there is a problem on the roof, you will be able to share the expenses along with the neighbors. In some of the upscale condos, you will be able to find lounge areas, gyms, and swimming pools as well. They will provide you with a luxurious living environment.

• Townhouses

A townhouse is a hybrid in between a single family home and a condo. You can find multiple floors in them. There are one or two shared walls in a townhouse as well. On the other hand, you can also find how people living in a townhouse are provided with a small yard space. It is associated with a rooftop deck as well.

Townhouses are usually larger when compared to the condos. However, they are small when compared to single family homes you can buy. You can receive a high level of privacy from a townhouse when compared to a condo. In most of the townhouses, you can discover shared maintenance agreements as well. Due to the same reason, people will be able to save a considerable amount of money, which was supposed to be spent on maintenance activities. Instead of searching for single family homes for sale in Derry NH, you can go for a townhouse and save some money for your future.

• Multifamily homes

Multifamily homes are another great option available for the people who are looking forward to investing in the Derry New Hampshire Real Estate market. However, it is also important to notice that this is the least common residential building type available for you to invest your money into. They look like homes, but they are converted into two or more units. You can also discover multiple floors available in the multifamily homes available out there. If a multifamily home has more than four floors, it will be considered as a commercial property. You will come across numerous such houses while you are looking for commercial property for sale in NH.

If you are planning to purchase a new home mainly for investment purposes, a multifamily home would be a good option available to consider. That’s because you will be able to live in one of the units and then simply rent out the other ones. This provides them with low-cost experience.

On the other hand, multifamily homes are a perfect option available for multi-generational households as well. That’s because all the family members will be able to share the same residential building. However, every single family unit can have housing units on their own.

• Cooperatives

Cooperatives are quite similar to condos, but you need to understand that all the people who live in the building have the chance to use all of it. In other words, it is possible to say that all the people are owners of the building. Along with that, they are provided with a shared responsibility as well. The key benefit of purchasing Cooperatives is that you can reduce the maintenance expenses. They are marked at an affordable price when compared to condos that you would find in Derry NH.

Final words

Now you are aware of the best properties available for you to buy let Summerview Real Estate help you find a home in this hot real estate market. By using our real estate office you will be able to get the maximum returns out of the investment you make. You should also think about seeking the assistance of a reliable real estate network, which can deliver help to you with buying the best home in New Hampshire.