What to Look for in a New Construction Home in Orlando
Orlando has so much to offer that it’s not hard to see why so many people relocate here or simply never leave.
This incredible city is famously home to major tourist attractions like Walt Disney World, Universal Orlando Resort, and Epcot among many others, but that’s just the tip of the iceberg. Orlando also has some of the best weather in the country and offers countless ways to enjoy it.
If you’re thinking about buying a house here, you’ll also love that Orlando still has plenty of open lots available. So, instead of buying someone else’s home, you can actually look for a new construction home in Orlando or build your own.
5 Things to Look for When Buying a New Construction Home in Orlando
Even if this isn’t your first house, building a brand-new one can still be a challenge. So, be sure you look for the following before getting started.
1. A Builder with a Great Reputation in Orlando
Nothing will give you better insight into what to expect from your Orlando builder than what past clients have to say about working with them.
Fortunately, you don’t need to go knocking door-to-door.
First, you can check online to see if there are any reviews from the builder from past clients. In addition, the kind of builder you want for your new home will have no problem providing you with plenty of references. They should happily put you in touch with past clients and will be excited about the prospect of you two talking. Feel free to ask these references any questions you want about their experiences.
How and when will I be able to access my home while it’s being built?
How do you customize your work?
Visiting some of their completed homes will also be helpful. Someone may convince you that a prospective builder is great over the phone, but you might think otherwise once you see their actual work in person. Likewise, ask if builders have any open houses at the moment, so you can walk through one and take your time examining the craftsmanship to see if it meets your standards.
2. An Orlando Neighborhood That’s a Good Fit
Hiring a qualified builder is a great first step, but you probably won’t be completely satisfied with the results if you don’t like the neighborhood or surrounding area.
That’s why it’s just as important that you take the time to assess potential neighborhoods in Orlando for your new house. Consider how far you’ll be from locations you’ll frequent (e.g. schools, work, grocery stores, etc.). Look into any new developments that could increase your house’s value in the near future.
Even if they seem fine during the day, take a drive through potential neighborhoods at night to make sure you won’t have noisy neighbors. Check neighborhood crime statistics, too.
3. Enough Space
While your builder will help you understand how much space your house should have to meet your specific needs, take your time considering how much square footage you want for your new house.
Whatever you do, don’t reduce the space in your new home to free up room in your budget. You can always add hardwood floors later or redo the countertops. Adding extra space will be far more complicated and expensive.
4. Warranties for Workmanship and Materials
It should go without saying that a reputable builder in Orlando will offer warranties on materials and workmanship.
However, these warranties can sometimes differ. With new construction homes, there areexpress and implied warranties. The former spells out exactly what remedies will be used to address specific problems if they arise while the latter is less explicit. It’s not that one is necessarily better than the other, but you should still have a real estate agent or lawyer review the type your builder offers to make sure you’re protected.
5. Any Extra Costs
Before you sign the contract to begin construction on your new home, review it to make sure it’s not missing anything you thought it included. Otherwise, you might have a great home, but you might lack, say, a landscaped yard around it.
Worse, you might not be aware that your homeowner’s association wants new yards installed within a certain amount of time. Miss it and you could be out thousands of dollars more.
Think through every aspect of your dream home in Orlando to make sure you’ve budgeted for it. Do you want a fence? A pool? A shed? If your builder isn’t including it in their quote, you’ll have to take care of it on your own.
How to Save Money on a New Construction Home in Orlando
Finally, buying a new construction home in Orlando isn’t nearly as expensive as many people think, especially if you heed the above advice and are willing to negotiate a bit.
Don’t fall into the trap of thinking that this isn’t possible when you buy a home. You can negotiate the price, loan fees, lot lines, and just about anything else.
You may also find that your builder is much more accommodating to your budget if you go with their preferred lender. Often times, builders will help with closing costs if you pick the lender they recommend. While it’s still smart to shop around, it’s usually hard to beat that kind of incentive.
Speaking of which, the SimpleShowing Buyer Refund Program can also help you with those closing costs or provide extra cash to furnish your new place. On average, buyers who work with a SimpleShowing agent to buy a new home get $5,000 back when they close. Plus, you’ll get representation from a real estate agent who is looking out for you instead of the builder.
Use an Orlando Real Estate Agent to Buy a New Construction Home
Even though you’re buying a new construction home in Orlando, that doesn’t mean you should be without a real estate agent. Their experience can help with everything from understanding the contracts to finding open lots that are hidden gems.
Work with a SimpleShowing agent and you’ll qualify for our Buyer Refund Program, which could help you save thousands.
Contact us today to connect with our Orlando real estate agents who know Orlando and the new neighborhoods popping up all over the city.
Conclusion
As you search for your dream home in Orlando, FL, you’ll find an impressive array of new construction homes that seamlessly marry metric and imperial units, ensuring everyone’s comfort and understanding. From the upscale neighborhoods in downtown Orlando to the charming enclaves in Lake County, you’ll be spoilt for choice. Considered the heart of Central Florida, Orlando is a bustling hub of activity boasting renowned landmarks such as the Phillips Center for the performing arts and a plethora of other attractions that bring the magic of this vibrant city to life.
Finding your desired community might seem like a daunting task, but the sales team at Simple Showing is dedicated to helping home buyers like you navigate the varied single-family homes options available. Whether your heart is set on a modern townhouse within walking distance of winter garden or a cozy cottage with views of Lake Apopka, we’re here to guide you.
The Orlando area offers more than just an excellent selection of homes; it’s a lifestyle. From the bustling theme parks like Universal Studios to the natural beauty of Orange County, there’s a wealth of experiences waiting just outside your doorstep. So, whether you’re drawn to the performing arts or the allure of a world-class city, buying a new construction home in Orlando allows you to embrace an unrivaled living experience.
11 Tips for a Successful Home Remodel
With extra free time on your hands, you may be considering making updates to your home. After all if you’re stuck inside, it could be a great use of your time especially if you’ve been putting off some necessary fixes or long-awaited upgrades.
In order to help you make this process successful, we’ve outlined 11 tips to help guide your home remodel so you end up with your desired goal and avoid creating an even bigger mess.
6 Tips To Keep In Mind Before You Start Renovating Your Home
Before you begin the renovation of your home, you may want to read over these 5 tips to ensure you are best prepared for the upcoming project.
1. Don’t Over Improve Your Home
Before you start making improvements to your home, determine if these enhancements are worth the money invested.
Is your main goal to increase your home’s value, or is the renovation mainly for your personal benefit? If you are planning to sell in the near future, will you be able to recover the investment when it’s time to sell?
Especially if you expect to sell in the near future, it is important to decide if it makes sense to invest as much as you are planning.
For example, if all of the homes that are selling in your neighborhood have updated bathrooms, then renovating your bathrooms might be a good investment. On the other hand, adding a pool can cost between $28,000-$55,000, so it may not be worth the investment.
2. Set A Budget For Your Renovation Project
Remodeling can be costly and become way more expensive than you initially thought if you don’t set a budget and stick to it.
Be sure to do your research and establish a budget before starting your project.
We also suggest including some room for unexpected expenses in case the project does not go exactly as planned.
It may also be helpful to start a spreadsheet with all purchases related to the project. This way you’ll know exactly how much you are spending and how much room you have left for the rest of the project.
3. Find Good Contractors (If Needed)
If you are debating starting a renovation project that’s above your skill set, then it will probably be worth your time and money to invest in a contractor who has proven experience and good reviews.
There are many mediums to find contractors online, but you should watch out for untrustworthy sources so you don’t end up paying for the damage later on. One great place to find contractors for your home remodel is on the National Association of the Remodeling Industry website or you could ask fellow neighbors on Facebook Groups or Nextdoor.
4. Get Multiple Quotes
If you’re doing a big project like redoing a kitchen or a complete bathroom remodel, then you should get bids from 2-3 reputable contractors.
If possible, avoid paying any down payment or deposit before selecting a winner to avoid added expenses. By comparing contractors, you may be able to score a better deal on your home remodel that you wouldn’t have otherwise.
In addition to getting quotes from contractors, it may also be worthwhile to shop around for materials on your own. Some stores may have sales or discounts that could save you hundreds on materials and reduce your overall renovation cost.
5. Establish A Contract & Timeline
Once you decide to either do the project on your own or work with a contractor who meets your qualifications, it is important to sit down and establish a timeline and contract (if applicable).
With a timeline, you can set expectations for when certain things should be done and have a good idea of how long the project will take.
If you work with a contractor, a contract can ensure that all expectations are in writing which will help keep your mind at ease and make sure that everyone is on the same page.
6. Declutter & Protect Furniture
Before the actual project begins, it is likely a good idea to clean out unnecessary items in and around your workspace to provide a clear environment to accomplish your remodel.
If you have items that could get broken, pack them up before the project begins. Also, if there is furniture in the vicinity, then you may want to cover it with protective material or move it to another area to avoid any damage.
5 Things To Consider While Renovating Your Home
Once you begin your home renovation project, there are are few things to keep in mind to make sure things go smoothly.
7. Prepare For Delays Or Unexpected Issues
With any project, things will likely not go 100% as planned. This is why it’s important to prepare yourself beforehand for things like noise, dust and dirt from work being done, delays due to weather or other inconveniences.
Give yourself enough time in your timeline for things like this to occur to avoid being upset when it happens.
In addition to delays, you may also run into unexpected additional costs as mentioned above. This is why it’s important to build in some padding within your budget to help cover these expenses.
8. Protect Your Children and Pets
If you have children or pets living in the space that you are remodeling, then it is important to think of them when preparing for improvements.
Pets wander, so it’s important to have barriers or plans in place to keep them out of the workspace.
Children must also be safeguarded from things such as chemicals and power tools that can be hazardous. Keep these factors in mind when preparing for a project that may impact others in the home.
9. Keep Record Of Your Things
If you are going to have strangers in your house or on your property, it is important to keep record of your possessions in case items go missing.
You can accomplish this by taking photos of every room for documentation. If you have cameras inside your home, it may also be a good idea to check these occasionally to be safe.
10. Communicate With Your Contractor
To avoid being unsatisfied at the end of your contract, it is very important that you communicate frequently with your contractors.
As problems arise and the project moves along, you should establish a means of communication to get issues resolved and ensure transparency throughout the process.
If you have an issue with your renovation, it is best to let your contractor know as soon as possible so they can fix the issue before continuing along with the project.
11. Complete A Remodel Final Inspection Before Payment
If you’re working with a contractor, then you should conduct a final inspection before you submit the final payment for your project.
This final inspection will allow you to identify any problems with your remodel and request fixes before you pay in full. If you do not conduct an inspection, you may be liable for costly repairs later.
Curious about how much your home is currently worth before you get started?
Request a free home valuation from a licensed SimpleShowing Agent. Plus, save $7,500 when you do decide to sell with our full-service, 1% listing fee.
What Every Homeowner Needs to Know About a Septic Inspection
When a septic system is working properly, you should hardly even know it’s there.
Septic systems are an essential component of many homes, as they efficiently manage solid and liquid waste. A properly functioning septic system is crucial for maintaining a healthy living environment and preventing soil pollution. In this article, we will discuss everything you need to know about septic inspections, including why you should have your septic system inspected, the types of septic inspections, and the costs involved.
Intro to Septic Inspections
A septic system is simply designed to remove waste from a home. This includes any waste that comes from toilets, showers, sinks, and washing machines. When that water has served its purpose, it flows through pipes and into a septic tank. That tank, in turn, filters the wastewater before redistributing the sterilized result into the soil.If you’re a homeowner with a septic tank, you’ll still need professional inspections done from time-to-time.
The same goes for anyone who’s considering buying a home that runs on a septic system. We’ll go into details about the cost in a minute, but suffice to say, you’ll need to budget for ongoing septic inspections when considering the long-term costs of a house.
Types of Septic Inspections
There are several types of septic inspections, including:
Visual Inspection: A visual inspection involves checking the main components of the septic system, such as septic tanks, distribution boxes, and the septic drain field, to ensure they are functioning properly.
Loading and Dye Test: This test involves introducing a dye into the septic system and monitoring water flow to determine if the system is draining properly.
Pump the Tank: A septic tank pump is necessary to remove solid waste and check for any damage to the tank.
Visual Inspections
Visual inspections are usually only done in conjunction with a general house inspection when the home is under contract. Most general home inspectors will not perform the septic inspection, so you’ll need to hire a septic company.
Among other things, the septic system inspector may ask the current owner a few questions (e.g. about the age of the house, how old the tank is, when the last inspection was done, etc.). They’ll also check the home’s water pressure and drainage by flushing all the toilets and running water from all the taps. Finally, they’ll check the drain field for standing water to make sure there aren’t signs of a cesspool.
While a visual inspection of a septic tank is helpful, most real estate experts would recommend you have a full inspection done before actually buying a house.
Full Inspections
Full inspections are also the kinds homeowners require. You simply can’t rely on a visual inspection to be certain major septic problems aren’t on the horizon.
A full inspection entails everything we just covered, but the inspector will also examine the actual tank itself. They’ll remove its cover to check the tank’s water level, which is the only way to know for certain if there are drainage issues.
Similarly, they’ll run water in the house and then watch to make sure that it’s properly flowing into the septic tank. If they see that the water level rises when they do this, they’ll know there’s a problem.
They may even add dye to the water in the house, so they see just how much of it ends up in the septic tank.
To finish the septic inspection, they’ll check the absorption area for backflow by running the pump. Backflow would indicate that there is an issue with the drain field. If that checks out, they’ll check the flow level one last time for any blockages and to be certain it’s still running correctly.
Reasons to Have Your Septic System Inspected
A septic system inspection is necessary for various reasons, including:
Real Estate Transaction: A septic inspection is often required during a real estate transaction, as a home inspector may not have the expertise to assess the septic system adequately.
Preventing Environmental Issues: An inspection can help prevent ground surface pollution and ensure that your septic system is draining properly.
Septic System Repairs: Inspections can identify septic system issues, such as a full septic tank or damaged outlet pipe, allowing you to address them promptly.
Maintaining a Healthy Septic System: Regular inspections help keep your septic tank healthy and prolong the lifespan of your septic system.
How Often Do You Need a Septic Inspection Done?
Visual inspections are done when you’re interested in buying a house. It’s a good preliminary step before paying for a full inspection.
As far as a full inspection of your septic tank goes, you should aim for every four to five years. If you have a larger household that uses more water on a regular basis, it’s probably best that you don’t wait five years. Likewise, you should count on a three-year schedule if you simply have a smaller tank.
If you just moved into a house with a septic tank, the inspector you used before closing should’ve told you how often you’d need the full assessment done. Otherwise, have one done and ask that inspector when you should schedule another.
Always keep records of your septic inspection, too. For one thing, this will tell you when you need your next appointment. It will also help you track any ongoing maintenance problems in case you have to start saving for a new tank in the future.
In any case, paying this negligible amount every three years or so is necessary to ensure that your septic tank isn’t malfunctioning, which could lead to a number of problems. The worst-case scenario would be the septic tank backing up so that contaminated water comes to the surface of your yard. It could even flow back into your home.
Far too many homeowners wait until this type of problem emerges before finally calling a professional to take a look at their septic tank.
Unfortunately, by then, it’s often too late.
Instead of spending around $350for a preemptive review, it could end up costing them anywhere between $5,000 and $9,000 to completely replace their septic tank. Worse, if damage has already been done to their yard or home, the costs could be significantly more.
Septic System Components
Septic Tank: The septic tank will be inspected for leaks, cracks, and proper functioning of the inlet and outlet pipes.
Distribution Box: Septic inspectors will ensure that the distribution box is functioning correctly and evenly distributing liquid waste to the leach field.
Leach Field: The inspector will check for signs of soil saturation, which may indicate a malfunctioning septic system.
Sump Pumps: Septic inspectors will assess the condition and performance of sump pumps, as they play a critical role in maintaining a working septic system.
Should You Buy a Home with a Septic Tank?
Ultimately, it’s a personal preference, but you should make sure a system inspection isperformed during due diligence.
Do you love the idea of being able to escape to paradise whenever you want, knowing full-well that your favorite accommodations will be waiting for you?
Well, if that’s your dream, it might be time to start thinking about how you can turn it into a reality.
5 Steps to Buying a Second Home
Fortunately, buying a second home has never been easier. You can consider potential houses all over the world from the comfort of your current home.
However, while finding your second house is easy, preparing to actually purchase it requires the following five steps.
1. Determine Your “Why”
Buying a second home is a big decision, so it’s important that it’s not an impulsive one.
Some people return from an especially enjoyable vacation and immediately get busy looking for properties in the area where they just vacationed. But even if you are extremely familiar with a location, consider other relevant details, like:
Tax Rates
Cost-of-Living
Resale Values
Amenities
Economic Trends
In short, you should put just as much thought into buying your second home as you did your first.
Reasons Why it Might Makes Sense to Buy a Second home
You want a vacation home, simply as a regular getaway or as a spot where you’ll eventually retire.
You need to buy a house for a family member, perhaps to keep your in-laws nearby or to give your college student a home near campus.
You need a home closer to your job, because you or your spouse work more than an hour drive from your current residence.
You want to invest in real estate by buying a second home that you’ll eventually rent out or flip.
You’re looking to upgrade by moving into a new house but keeping your current home as a rental.
2. Figure Out Your Budget
Of course, even if you’re positive that buying a second home makes sense, your budget might disagree.
Financial expert Dave Ramsey recommends you ask yourself the following questions before going through with this decision:
Can I pay cash for the vacation home?
Is my primary residence already paid for?
Am I saving 15% of my income for retirement?
Do I have a three-to-six-month emergency fund in place?
Am I saving for my kids’ college?
Obviously, the weight of these questions depends on your unique situation. You may not have children, or they may have already graduated. You may have saved more than enough for your retirement a long time ago.
Also, look into the ongoing maintenance and insurance costs. You don’t want something like your utility bill or flood insurance to come as a shock.
Suffice it to say, though, buying a second home should never feel like a financial risk. If it does, that just means you need to wait until your budget is ready.
3. Explore Mortgage Options
If you do decide to explore your options for second-home mortgages, know that the government loans won’t help you. For example, as amazing as FHA loans are, you can’t use them for any home that isn’t going to be your primary residence.
Instead, you’ll need to apply for a conventional mortgage, which will mean a higher down payment and lower debt-to-income ratio in order to qualify. If you are still paying for your first mortgage, expect income requirements to be higher, too. Conventional loans also require a credit score of at least 620.
Don’t let these stipulations intimidate you, though. Obviously, they haven’t been enough to stop countless people from securing mortgages for their second homes.
4. Consider Airbnb to Earn Income from Your Second Home
Speaking of paying for your second house, consider renting it out as an Airbnb when you won’t be using it.
This has become an extremely popular option over the last five years or so. Many people who own second homes are actually able to make their mortgage payments based solely on renting out their houses when they’d otherwise be left empty.
Best of all, once you develop a system for putting your second home on Airbnb (e.g. your contract, how you screen tenants, etc.), the process becomes largely passive.
In fact, you can even outsource the management of your rental. Have someone else take care of cleaning your second house, preparing it for the next rental, and handling any questions renters have while staying there. All you have to do is collect regular checks.
For example, some local governments have banned or otherwise placed restrictions on using second homes as rental properties on Airbnb. The same goes for homeowners’ associations (HOAs). Some forbid owners from renting their homes out, whether it’s through Airbnb or some other arrangement.
5. Work With a Local Realtor
A lot of people assume that they don’t need a real estate agent when they buy a second home. After all, they’ve clearly already been through the purchasing process once, plus they know exactly where they want to live.
First, even if you know the area you’re considering, you can’t possibly know it as well as a real estate agent who has been practicing there for years. They can tell you about the local market, seasonal population changes, and much more.
Second, they’ll help you negotiate the terms of your offer. This is invaluable, as it’s all-too-easy to pay far more for a second home than you absolutely must. The same goes for leaving out favorable clauses and contingencies.
Finally, they know how to decipher the complicated paperwork that comes with buying a house, including requesting disclosures beforehand, so you can be 100% sure about the home’s condition.
Are You Ready to Purchase Your Second Home?
Are you excited about the prospect of owning a home in paradise?
Instead of renting someone else’s house or staying in a hotel, are you ready to have your own slice of paradise?
Then, we’d love to help. Using our platform, you can get started touring homes today with our easy-to-use, online tour scheduling.
When you buy your second home with a SimpleShowing Real Estate Agent, then you’ll qualify for our Buyer Refund Program, which could pay you back as much as $15,000 upon closing.
Best Suburbs in Tampa, Florida
Tampa Bay is an eclectic mix of parks, breweries, waterfront dining, impressive real estate, and pedestrian-friendly historic districts that are both charming and vibrant. Located on an inlet on the west coast of Florida, Tampa Bay is like metro Orlando’s cooler, calmer, and more stylish older sister. The area’s booming economic and financial districts makes it one of the best places to live in Florida.
Tampa Bay is a vibrant mix of single-family homes, luxury apartments, and waterfront real estate. Check out some of the best Tampa Bay suburbs for families, young professionals, retirees, and luxury real estate.
Best Tampa Bay Suburbs For Families
1) New Tampa
Rapid growth in the last decade has caused New Tampa to grow exponentially. There are always new neighborhoods popping up throughout the area, and families love the easy access to nature trails, parks and playgrounds. Families have a variety of public, private, charter, faith-based, and specialty schools to choose from in the New Tampa area. The median home price is $332,400.
New Tampa is known for its golf courses and the beautiful Lower Hillsborough Wilderness Preserve. This suburb is perfect for active families because it offers a variety of outdoor recreational activities such as tree climbing, zip-lining, and water-based activities.
Carrollwood is a mix of walking trails, public parks and playgrounds, locally-owned boutiques and quiet, affluent neighborhoods. Carrollwood was one of the first suburbs in the Tampa Bay area. It is well established and closer to downtown, the airport, and local restaurants than some of the newer suburbs. There are day spas, health and beauty stores, and tree-lined parks where residents exercise in the mornings or golf in the afternoon. The median home price in Carrollwood is $315,500.
Many residents spend the second Saturday of the month browsing the North Tampa Market, a monthly outdoor market showcasing local food, crafts, and live music. It is located behind the Carrollwood Cultural Center from 10 am until 2 pm. There’s always something going on in the area.
Safety Harbor is a quiet Tampa suburb with mature shade trees, waterfront parks, fishing piers, food truck events, live music venues, and trendy brunch places. On the weekends, families have picnics in Philippe Park, shop in Downtown Safety Harbor, or spend the day on the Gulf. The Market on Main is an open-air shopping experience where residents can browse local vendors, listen to live music, and connect with their community. There are quiet, well-established middle-class neighborhoods like North Bay Hills and newer communities like Park Heights. The median home price in Safety Harbor is $297,300.
Safety Harbor is home to the only mineral spa resort in Florida. The Safety Harbor Resort and Spa opened in 1925 and was once believed to be the place that Ponce de Leon called the Fountain of Youth. In 1947 the Safety Harbor Resort and Spa was named a historic landmark, and now the resort boasts a 50,000 square foot spa and 172 luxury guest suites. This is a beautiful waterfront venue perfect for weddings, meetings, and award-winning spa services.
Fishhawk is where arts and culture meet modern conveniences and high-end services. The fact that it has excellent schools and affordable real estate makes it a magnet for families on Florida’s west coast. Fishhawk has an abundance of walking trails, public parks and playgrounds, and other recreational activities. Fishhawk has a busy social calendar, giving residents plenty of ways to connect, such as food truck events, outdoor markets, live music events, and community 5k races. The median home price in Fish Hawk is $313,000.
Fish Hawk is an excellent place for foodies. It is home to unique restaurants such as The Scrambled Egg and The Brunchery. There are a handful of breweries, locally-owned coffee shops like Cool Beans Coffee Shop, and fine dining establishments on the water. Whether you are looking for a family-friendly restaurant where kids can burn off their energy on a playground, or a romantic date night restaurant, you can find it in FishHawk.
Wesley Chapel has grown significantly in the last decade. It has two highly ranked middle schools and two high schools, and over 30% of the families here have children. The Shops of Wiregrass is a popular outdoor mall with high-end retail shops and restaurants, and there is an outstanding and innovative new hospital, Florida Hospital Wesley Chapel. Families love that it has an incredible youth sports program and an active Chamber of Commerce. Wesley Chapel is also home to luxury communities like Epperson, a brand new community featuring a 7.5 acre Crystal Lagoon surrounded by sandy white beaches — perfect for Florida fun! The median home price in Wesley Chapel is $293,800.
Because Wesley Chapel is such a family-focused suburb, there’s always something to do during the week and on the weekends for people of all ages. Residents attend open-air markets on the weekends and participate in evening yoga on the lawn at the Shops of Wiregrass. There are concerts, art festivals, wine tastings, Touch-A-Truck events, and seasonal parties that the whole family can enjoy.
From art and business to finance and education, Tampa Bay is a fantastic place for young adults.
1) Downtown St. Petersburg
There’s no better place to network than Downtown St Petersburg. Young professionals can live, work, and play right in the heart of the city. In the last decade or so, Downtown St Pete has been revamped with luxury apartments and condos that allow young professionals to live close to where they work. Busy professionals can swing home on their lunch breaks, or meet potential clients for happy hour in some of the city’s coolest hangout spots. On the weekends, Downtown St Petersburg turns into a vibrant and exciting nighttime destination, a place where many young professionals want to spend their free time. The median home value in downtown St. Pete is $328,900.
Downtown St Petersburg is located right on the water. Here, residents can spend the mornings doing paddleboard yoga, head to work, and then spend their evenings browsing art galleries, working up a sweat on one of the city’s many running trails, or meet up with other dog lovers in downtown St. Pete’s popular dog park.
Ybor City has a rich history and a story to tell. It offers a traditional neighborhood feel, with brick streets and locally-owned restaurants and boutiques that have been part of Ybor’s history for decades. When it comes to real estate, young professionals in Ybor City can pick from condos and apartments, townhouses and newly constructed residential buildings. Everyone wants to live as close to 7th Street as possible, to be close to all the events and activities that bring life and light to Ybor City. You can even get to downtown Tampa by jumping on a streetcar!
When you think of Ybor, you may think of Tampa Bay’s iconic cigar Factory. The J.C Newman Cigar Company is the last-standing cigar company in Ybor and located in the Ybor City Landmark District. This Landmark District is popular for young professionals as it offers networking events, wine tastings, coffee clubs, and an open-air market on the weekends.
Sometimes referred to as Channel District, residents here have easy access to downtown and a lot of options for newly constructed condos and townhomes. It is also a popular option for those who want to be close to Ybor’s historic district. One of the most popular features of the Channelside area is Sparkman Wharf. As Tampa Bay’s newest outdoor waterfront destination, Sparkman Wharf features waterfront dining, boutique shopping, live music, and craft breweries. For professionals looking for their own unique office space, Sparkman Wharf offers innovative and waterfront loft-style workspaces. The median home price in the channel district is $318,900.
For Tampa Bay residents that are looking for luxury waterfront real estate, Eleve61 is already causing a buzz in the local real estate market. Currently in the pre-construction stages, this modern and boutique condo will only feature 61 luxury units overlooking the water. Set to be completed in 2021, this high-end luxury condominium complex will be where the who’s who of Tampa Bay call home.
Busy families love Seminole Heights and Riverside Heights because of the easy access to downtown Tampa along with countless restaurants, shopping venues, and outdoor recreational activities. The two communities are adjacent to each other, but there are larger homes and lots in Riverside Heights. Schools rank above average, and there is plenty to do on the weekends such as explore the local parks, browse art and culture museums, and enjoy live music at Ella’s Americana Folk Art Cafe. The median home price in the Riverside Heights is $299,100 and $280,800 in Seminole Heights.
Riverside Heights is minutes from Armature Works; a historical industrial building turned entertainment complex that features a public market, social halls, restaurants, and workspaces. Once the storage and maintenance facility for Tampa streetcars in the early 1900s, this revamped social space has changed the way people work, eat, and socialize in Tampa area. It has quickly become one of the hottest new venues in Tampa. It also provides a gateway to Tampa’s Riverwalk.
Dunedin has been named one of America’s 100 best places to retire. Dunedin has 5 miles of gorgeous shoreline, a beautiful marina, and an impressively low crime rate. While the cost of living is about 10% above the national average, Dunedin is a popular retirement destination because of its slow-paced lifestyle, locally-owned restaurants and boutiques, and a very pedestrian-friendly atmosphere. While Dunedin is home to many festivals and events, it is also a quiet and peaceful waterfront suburb that is perfect for slow-paced living. When it comes to Dunedin real estate, there are luxury condos, well-established single-family homes, and a variety of active adult communities with resort-style amenities. The median home price in Dunedin is $329,800.
Many seniors in Dunedin frequent the Hale Senior Activity Center which is operated by the city and offers an extensive calendar of programs for those 50 and over. No membership required!
Tarpon Springs is split into two areas. There is the main downtown area with its charming sidewalk boutiques and locally-owned restaurants. There’s also the waterfront area. The median age of Tarpon Springs residents is 48, and there are many active adult and 55+ communities in the area, too. Tarpon Springs used to be an old sponge fishing town, and many signs of that era still decorate the neighborhood today. The median home price in Tarpon Springs is $341,100.
Every summer, Tarpon Springs hosts its annual Opa! Palooza, a festival is designed to celebrate Greek heritage. Admission and parking are free, and there are food trucks with authentic Greek food and pastries. There is live dancing, workshops, and a kids play area. It’s a very exciting and highly-anticipated event each year.
New Port Richey could easily fit on any of the lists in this comprehensive guide. It is great for families and young professionals and is also a top retirement destination. New Port Richey has a little bit of everything. Although a little further out in the Tampa Bay Area, New Port Richey has a diverse population and plenty of things to do. This suburb is known for its public parks, gorgeous boardwalks, and expansive outdoor recreational areas. While the crime rate is slightly higher some suburbs, New Port Richey is the perfect blend of nature and entertainment. The median home price here is $278,600.
For seniors that like to stay active and connected with their community, New Port Richey offers a packed calendar of events all year long. Retirees can spend their weekends at BBQ festivals, craft festivals, live music events, boat shows, and food truck rallies. There is always something going on here.
If you dream of spending your retirement years with your toes in the sand, you may want to consider buying property in Redington Beach or Redington Shores. These may be more expensive Tampa Bay suburbs, but they boasts beautiful views, waterfront dining venues, boutique shops and the chance to enjoy the waterfront lifestyle. Just take a short drive through Redington Beach and you will find spacious loft-style apartments, adorable cottages built in the 1950s, and sprawling multimillion-dollar mansions on the water.
Redington Beach and Redington Shores are less expensive than the nearby but well-regarded Clearwater Beach and Belleair Shores area. Many retirees choose Redington Beach because of its beautiful views and diverse real estate.
If you’ve been waiting decades to live in your dream home, retiring in Tampa Bay may give you the opportunity to live the life you worked so hard for. If you are looking for luxury homes in the Tampa Bay Area, look no further than South Tampa or Davis Island.
South Tampa
South Tampa really does have it all. From highly-ranked schools to low crime rates and breathtaking real estate, this affluent suburb is ideal for those looking for luxury, space, and privacy. Two of the most popular areas for luxury homes in the Tampa Bay area are Bayshore and Palma Ceia.
Everything is more expensive in the Bayshore area, but it’s wealthy and successful residents don’t seem to mind. Here you can easily find multimillion-dollar mansions on the water and countless amenities that appeal to families, busy professionals, and retirees.
Palma Ceia has a median household income of over $110,000, and residents live in million-dollar estates on tree-lined streets.. Great schools, low crime, and easy access to some of Tampa Bay’s hottest amenities make this one of the area’s hottest suburbs. The median home price in Bayshore is $651,600, and in Palma Ceia, it is $642,200.
Quiet, unassuming, and unbelievably luxurious, Davis Island is where celebrities and pro athletes build million-dollar estates on the water. Celebrities like Derek Jeter and John Travolta have owned homes on or near Davis Island, and this affluent suburb consistently ranks as one of Florida’s best places to live. When you are driving to Davis Island you’ll notice canopy of oak trees, charming sidewalk boutiques, public parks, and sidewalk cafes. Mansions line the water’s edge and residents walk, jog, skate, and push strollers through the tree-lined streets of the island.
Davis Island is sometimes referred to as the self-sustaining island because it has everything residents need in one compact place. Davis Island has its own grocery store, hospital, medical offices, and schools. It is a tight-knit community where people know each other, and mom-and-pop stores thrive. The median home price on Davis Island is $921,200, which is substantially higher than the average home price in Florida.
The beautiful thing about Tampa Bay is that it offers everyone a chance to experience the waterfront lifestyle. Whether you are a first-time home buyer looking for an apartment near downtown, or a retiree ready to spend the next chapter of your life in luxury, Tampa Bay has something for everyone.
It is a booming economic city with a vibrant entertainment district, and the warm and sunny year-long weather adds to its appeal. Rich in history and continually growing and changing, Tampa Bay is easily one of the best places to live in Florida.
What Are The Closing Costs For A Seller?
If you’re thinking about selling your home, you’ve probably also thought about how much you’ll be able to make on the sale.
Your first step will be to calculate your potential net proceeds by subtracting the expected final sales price from the total closing costs.
While most home sellers are aware of listing agent fees, many home sellers forget about buyer agent commission, taxes and other closing costs a seller may be responsible for. This final amount generally adds up to about 5-8% of the final sales price and could significantly impact the net profit on a home sale.
Which Closing Costs are Paid by the Seller?
Each state handles closing costs a bit differently, but there are several categories of closing costs that are consistently paid by the home seller. It’s important to remember that some closing costs may be paid by the buyer if negotiated as part of the purchase agreement or a contract amendment.
1. Real Estate Agent Commission
Realtor commissions are hands down the largest line item when it comes to closing costs. The national average paid by most home sellers is about 5.75% of the sales price. This includes both the listing agent fee and the buyer agent fee – both of which are paid at closing by the seller. For a $500,000 home, the seller will pay about $28,750 – given a 5.75% total commission.
Keep in mind that both the listing agent commission rate and the buyer agent commission rate are negotiable. While some large real estate corporations charge commissions as high as 6.5%, it’s becoming increasingly common for homeowners to hire agents with reduced commission models. For example, SimpleShowing charges a 1% listing agent commission.
2. Transfer Tax
Before the buyer officially becomes the owner of your home, you need to sign over the title to the house. That’s easy enough, but to do so, you’ll also need to pay a transfer tax, which is a percentage of the home’s sale price. This percentage varies significantly by state, though.
For example, in Illinois, you may pay 0.15% to transfer title, whereas the cost could be 0.9% in nearby Michigan. The transfer tax in Georgia is about 0.1%. In some states, this is paid by the buyer rather than the seller.
3. Title Company/Closing Attorney Fees
In some states, you can’t close on the sale of a home unless a real-estate attorney oversees the transaction. For example, this is the case in Georgia And in all of the other states, you’ll use a title company to perform the closing.
In both cases, the attorney fees or title company fees are considered closing costs. In some states, the purchase contract often stipulates that the buyer is responsible for closing attorney fees and title insurance. For example, real estate attorneys are used in Georgia, New York and North Carolina. However, title companies are used in California, Texas and Florida.
4. Prorated Property Taxes
In most states, homeowners pay their property taxes are due at the end of the year or paid in arrears. If you’re selling your home four months before those taxes are due, you’ll need to pay the prorated amount for the final months you’re living in the home.
Most homeowners escrow their property taxes as part of their mortgage payment so they may receive a refund of their escrow payment depending on when the lender disburses property tax payments and how the timing aligns with the closing date.
5. Balance of HOA Dues
Similar to property taxes, if your community has a homeowner’s association (HOA), your dues are probably charged monthly, quarterly, or once a year. If it’s one of the last two, you’ll need to include prorated dues in your closing costs, so the buyer isn’t stuck paying for months before they owned the house.
6. Buyer Closing Cost Credit
In especially buyer-friendly market conditions, you mightbe asked to provide a monetary closing credit or seller “concession”. Both of these terms refer to a credit that you apply toward the buyer’s closing costs. By doing so, you’re reducing the amount of cash the buyer will need to pay at the time of closing.
Some sellers may reject credits altogether, depending on the nature of the deal. Sellers may also negotiate a credit in lieu of necessary fixes when submitting their offer. Either way, if you agree to provide a buyer credit, then that amount will be deducted from your proceeds at the time of closing.
7. Repair Credit to Buyer
Once you get an offer on your home and go under contract, it’s not uncommon for the buyer to ask for a monetary credit in lieu of repairs being made. The buyer will perform a home inspection which might reveal critical fixes that must be completed prior to closing.
If necessary repairs are discovered during the inspection/due diligence period, many homebuyers will request that you either perform the repairs prior to the close of escrow or provide an in-kind, monetary cash contribution at closing. If you balk at providing the credit (or the repair), the homebuyer may opt to terminate the contract and claw back their earnest money deposit.
How to Reduce Seller Closing Costs
As we covered, the closing costs for a seller can be quite substantial, taking thousands of dollars out of the potential profits from your home’s sale.
Realtor fees represent the biggest opportunity for cost savings. If you’re considering selling, avoid paying 6% in commissions by hiring an independent brokerage if one is available in your area. SimpleShowing offers a 1% listing commission in Florida, Georgia and Texas, which saves home sellers $11,400 on average.
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The Holidays can be a thrilling time of year!
Houses get decorated with lights, people gather for parties and feasts, and winter activities are in full swing.
With the weather getting colder outside and wallets thinning from gift-giving, many people shy away from purchasing a new home during this season.
However, could it be in your favor? Check out these 6 reasons to buy a home during the holidays that could benefit you during your home buying journey.
6 Benefits of Buying a Home During the Holidays
Before you write off buying a home during the holiday season, it’s a good idea to take these benefits into consideration that could help you score a great deal and save thousands.
1. Higher Negotiating Power
During the winter season, a large majority of people are busy traveling or spending time with family, so there are significantly less people searching for their next home during this period. With fewer buyers in the market, competition amongst buyers tends to be lower. In addition with the year ending, more sellers are anxious to close and get rid of their home as the days dwindle down. As a result, buyers shopping during this period tend to have higher negotiating power.
If you’ve ever purchased a home during a hot season, then you may know the frustration of losing a house to another offer or working with sellers who won’t budge on price or any improvements. With less competition, sellers are more likely to accept your offer and agree to changes. If you considering purchasing a home during this season, you could end up saving thousands with a lower price and getting all of the improvements that you asked for on the seller’s dime.
2. Tax Benefits
If you close on a home before the end of the year, then you could receive some benefits on your upcoming taxes. For example, you may be able to deduct a portion of your mortgage expenses, property taxes and possibly even moving costs if you are relocating for work.
With moving being costly, it would be nice to reap those benefits sooner rather than a year later.
Closing before year-end could also allow you to receive a homestead exemption. A Homestead Exemption is a tax exemption offered by some states to help offset the burden of property taxes. Considering you meet the qualification requirements, a homestead exemption can save you hundreds of dollars a year on your property taxes.
3. Lower Interest Rates
Interest rates and loans go through cycles during the year, but they tend to be especially low around the holiday season. During the holidays, less people are typically looking to borrow, so mortgage rates tend to be lower to encourage consumers to take out more loans.
2020 has already seen some of the lowest mortgage interest rates in history, so it might be a good idea to lock in a rate before they eventually shoot back up.
If you’re considering buying a home during the holidays, you should contact your local bank or mortgage lender to ask about their rates and keep an eye out on current trends. This way you’ll be able to score a mortgage at a reasonably low rate and save thousands throughout the life of your loan!
A mortgage lender will not only be able to give you insight into the current market rates, but will also give you a better idea of what to expect during the home buying process and an estimate of how much can get approved to purchase.
For many buyers, they want to be in their new home as soon as possible, so they can potentially celebrate the holidays there or start the new year off in their new place. For sellers, most don’t want to be bothered with more showings and open houses throughout the holidays and into the new year – especially if they have been on the market for a while.
Also, lenders will want to include your new loan on the current year’s books, and agents will want to be done before the new year rolls around. Therefore with most or all parties being motivated to finish, the closing process should go rather smoothly and fast.
5. Related Holiday Sales & Promotions
Not only are the holidays a good time to buy a home, but they are also a good time to hit up seasonal sales and promotions.
If you’re buying new construction, it is likely that home builders are offering special incentives to get their remaining homes sold before the end of the year. Whether this be a reduction in the sales price, cash towards closing costs or extra money towards upgrades, you could end up with thousands of dollars more when you close.
In addition to these promotions, you can also score deals on items needed in your new home.
If you’re moving to a larger place that you need to furnish or are in need of updated appliances, this is the perfect time to take advantage of the deals on the market. The holiday season is the most popular time for sales, so you’ll get great deals on items for your new home.
6. SimpleShowing $5,000 Closing Credit
Although this credit happens all year long, we believe it’s the best benefit to buying a home during the holidays…or any other season.
To qualify for the credit, you can sign up and book a showing of any home on our website. We’ll connect you with a local SimpleShowing Agent, and you’ll receive thousands at closing! Happy Holidays!
Expenses to Consider When Buying Your First Home
When buying your first home, budgeting can seem very intimidating. There are so many expenses to consider and you need to make sure you are aware of them to avoid going over your budget. These expenses not only include the cost of the home, but also the other upfront costs, prepaid items and future expenses.
To get a initial idea of your budget, you can start by simply looking at how much you are currently spending on rent or housing. Lenders often recommend that you look for a home that costs no more than 3-5 times your annual household income.
What are the Expenses When Buying a Home?
Hand down, the biggest expense you’ll have is your down payment. For a $400,000, you’d need at least $12,000 down when using a conventional mortgage – or the equivalent of 3%.
Your down payment is only one of several upfront costs. Other costs you should take into consideration include:
