A guide to buying your dream luxury home

Navigating the real estate market can be a complex task, especially if it is your first time dealing with a certain kind of property or in a particular location. It is also much harder to handle if you are looking for a specific property that would make all of your dreams come true. However, if you are ready to invest in a luxury property, you should be able to find something that will correspond to your vision. Luckily, we have managed to come up with a guide to buying your dream luxury home that will anticipate all of your questions and possible misgivings.

7 expert tips for buying your dream luxury home in Clarksville TN

If you are thinking of buying your first luxury home, you may be struggling with knowing where to begin. Our experts have come up with seven tips for you. These aren’t really unique to luxury real estate, but real estate in general. However, when the stakes are higher, it is much more important to be thoughtful and do your research.

Get a team together

The first of the 7 top tips for buying your dream home this year is to surround yourself with people whose expertise will work to your advantage. The most obvious one would be a trustworthy real estate agent. If you have sold or bought property before, you may already have someone you like working with. However, if this person doesn’t usually deal in luxury real estate, it may not be enough. This will be true no matter how reliable and professional they are. Your best bet would be to hire someone who already works with luxury properties. They should have a pretty good track record in luxury real estate, with lots of good reviews. It is particularly important to find someone who knows the area you are aiming for very well.

Two other people whose services you’ll need are an accountant and lawyer. Having someone to turn to when it comes to finances that has your best interest at heart will be of great help. A good lawyer familiar with the property law of the state as well as the local tax is also a necessary piece of the puzzle. Once you have this team together, you can move on to actually looking for a property.

Figure out what you want

When it comes to buying your dream luxury home, it is important to have a somewhat firm idea of what you want. This is particularly true of the location. The location will be a starting point of the search for your perfect home. Consider your lifestyle and come up with the things you need to have in your vicinity. This will determine the neighborhoods in which you’ll be looking for a home. Even if the property doesn’t check all of the boxes on your list but the location is satisfactory, don’t dismiss it. In most cases, there will be a lot of space for making alterations or additions to what is already there. Knowing what you want will make it much easier for your real estate agent to be able to present you with the best options.

Learn about the pre-approval process

The first thing to know when it comes to your luxury home budget is that getting a luxury mortgage is much different from getting the one for conventional properties. Luckily, you have a financial advisor or accountant to help you understand the process. In many cases, lenders will require a credit score of 680 or more. Your interest rate will depend on your credit score. Your financial documentation can be of critical importance in helping you get a good deal. Experts say it is sometimes difficult to show the bank you have the income without all of the paperwork. Finally, getting pre-approved is important because it puts you in a better position when you are making the offer. Sellers are more likely to go with a pre-approved party as they will seem like a more serious buyer.

Be aware of the unlisted properties

A lot of the luxury properties you might be interested in won’t be traditionally listed. In order to protect the privacy of the sellers, there is such a thing as “pocket listings”. This is where having an experienced luxury real estate agent comes in handy. Getting to see these properties will depend on their knowledge and relationships with other real estate agents who are selling these properties. This will be particularly important if time is of the essence for you. However, even if you are moving in a hurry do not despair – having chosen the right real estate agent and knowing exactly what you want will make it easier to find the perfect property, even if it is not listed. Our Guide to buying a luxury home is here to help you each step of the way.

Don’t just rely on photos

One of the expert tips for buying your dream luxury home is to try to see properties for yourself before deciding. Experts say photos of large properties can sometimes be misleading and only show the properties in their best light. Instead of simply relying on photos, you can go on Google Earth and take a look at the property in a more realistic way. This is also a good method of checking out the surrounding area before you visit. There might even be a virtual home staging option.

Plan ahead

A guide to finding your dream home wouldn’t be complete if it didn’t urge you to consider the future. This is important for a variety of reasons. Firstly, when getting to know the area, try to learn all about the future plans for your surroundings. This can be important when determining your location. Secondly, maybe the house is being built or you are making alterations before moving in. Make sure you are clear on the time frame if that is the case. People often get tied up for long periods of time because of construction delays. And finally, think about the resale value of the property you are looking into. If you think you wouldn’t be able to sell it because of some of its unique characteristics that are appealing to you, try to negotiate a better price with this in mind.

Consider foreclosures

The final tip in our guide to buying your dream luxury home is to look into listings of foreclosed properties as well. These will often be much cheaper than their value. However, you should have a trusty home inspector to come and give their opinion. You won’t have any upgrades available when you are buying a foreclosed home. In most cases, you will be able to do so through a lender, though, but do ask around.

Buying a Luxury Home in Clarksville TN doesn’t have to be hard or scary.

Buying an investment property in Tennessee

Buying an investment property in Tennessee remains a popular option for aspiring investors. If successful, it can help secure your financial future – but it is not without risks. The common misconception that investment property can only deliver positive returns remains, and it should absolutely not drive your choices. Most of the time it can indeed be profitable but, as with all investments, there is such a thing as a bad investment. How effectively one manages it then is crucial; potential rental income and tax deductions need to be considered, no less than initial investment costs and maintenance costs. Market fluctuation is similarly noteworthy, so the timing of your investment is more important than it may initially seem.

The right property, at the right price

As with all investments, the fundamental principle is that your investment’s value should increase over time and result in capital growth. Buying an investment property does not differ in this regard, so identifying a bargain at the right time is likely the most crucial step. It is important to make a distinction between general investments and real estate investments, however. Real estate is not as easy to price as, say, shares; a company’s value is easier to gauge and more transparent, while the real estate market is not always as clear.

Therefore, you should do your due research beforehand and take as many factors as possible into account. Familiarity with the area where you are considering buying real estate is very important – second-hand evaluations and information are often unreliable. Sellers may inflate prices, and personal familiarity with the area may be your first safeguard against potential scams or bad deals. Independent evaluations on behalf of banks will often be a reliable negotiating tool in this regard, as you acquire the experience to identify profitable deals.

The first step is to ensure a good deal.

The local market

Researching the area of your potential investment property also comes with a distinct advantage. As important as it is to strike a good deal on the real estate’s own price, it is equally crucial that the area’s demographics suit your next plans for your property. Whether you intend to resell or rent, the local market will determine how likely your efforts are to succeed; a family will prefer a house that is close to schools and parks in the area, and likely one that’s in a quiet, safe, and welcoming neighborhood. University students will prefer a house with more bedrooms or one that is functional but small enough to be affordable, while pensioners may value proximity to social services more than the house’s size or affordability. The demographic you intend to approach, then, will determine whether the property you have in mind is likely to be profitable. So if you’re planning to move to your area of interest yourself, you can try turning towards Verified Movers to get the professionalism you will need.

Financing

Finding your ideal investment property may be crucial, but financing the overall investment is always the primary concern. If you have the capital to be able to afford a cash payment, this aspect won’t be as complicated – but if you’re considering your first investment property, that may likely not be the case.

An investment property is financed very differently from a primary home; lenders will require excellent qualifications since investment property mortgages are typically considered higher risk than loans on property occupied by the owner. So a wise course of action would be to secure a financing source or have a preapproved loan before you begin your endeavor. Being able to maintain your mortgage payments over time will help you avoid the potential need to offload your new property at the wrong time – as unexpected financial stress may force you to.

Financing options include;
Conventional financing
Asset-based loans
Second-home financing
Home equity
401k loans

Securing financial stability will, of course, depend on cash flow; a constant positive cash flow cannot be realistically guaranteed in most cases. It may be tempting to simply calculate cash flow as your expected rental income against your monthly mortgage payment, but this method may not fully reflect reality. Against your monthly rental income you may need to consider;

The mortgage payment
The property manager’s fee, should you employ one
Recurring expenses, such as maintenance
Vacancy periods

Realistically, most properties cannot guarantee that there will be no vacancy. Emergency expenses such as pest control will also inevitably arise, and they will not be regular enough for you to be able to calculate them into your monthly cash flow with perfect accuracy. Thus, it is of paramount importance that you can both anticipate such expenses, and have a stable means of financing your investment despite potential hardships.

An investment is always a long-term commitment.

Partners and long-term risks

Hiring a property manager is often very beneficial, especially for one’s new investment property. It is not a non-negotiable choice, but it does come with a financial cost that must also be considered. It is likewise not uncommon for first-time investors to consider partnering up with friends instead of opting for loans to get started. While there is nothing inherently wrong with this tendency, you should not take it lightly either; friends don’t always make ideal business partners, and a partnership agreement has many implications. It is not just an extension of your existing relationship, but a whole new front of it that may not be absolutely safe.

This is especially true for business partners who may relocate together to their area of interest; this endeavor entails effort, cost, and hassle. Moving away from Tennessee with ease with the help of hired professionals may not add to your hassle, but relocating to unfamiliar states will require commitment from both parties.

After all is said and done, an investment property is a long-term commitment. As is the case with all businesses, commitment is not only encouraged but often required. Property prices cannot realistically be expected to rise shortly after your investment, yielding optimal profit soon. Instead, longer commitment to a property can help you build equity; moderate success may suffice for your goals, but the prospect of further profit may then lead you to consider further investments. It is not easy to make informed choices on this front soon after the first investment is stabilized – rather, acquiring experience as the investment matures will guide your next steps. Vacancies and emergency expenses may slow down your endeavor, and it may even yield a net loss for a while. Such risks can never be fully avoided, but making the right choices along the way can minimize the risk somewhat. At the very least, sharpening your market awareness can help you minimize the loss by offloading your property at an opportune time. But planning your course in advance and exercising caution along the way should reduce the risk considerably, and ensure your investment proves profitable.

8 Tips on Mortgages for First-Time Home Buyers

8 Tips for First-Time Home Buyers

If you’re in the marketplace for your first home, the procedure might look quite overwhelming, particularly getting your first mortgage. Though, the more you know about mortgages, the better prepared you’ll be.

Below are 8 of the best tips that will help you get ready for the application procedure during a mortgage and can possibly save your money.

Check your Credit and Stop all New Activities

When you choose to apply for a mortgage loan, your credit might be one of the main factors, , and it would assist you in knowing your interest rate and maybe the loan conditions. So check your credit before you start the home buying process. Disagree or avoid any errors that might drag down your credit score and look for prospects to enhance your credit, like making a dent in any unresolved debts. To keep your score from plummeting after you apply for a mortgage, stop opening any new credit accounts, like an auto loan or credit card, till your home loan closes.

Evaluate How Much You Can Use

Lenders normally use two dissimilar debt ratios to regulate how much you can borrow. The small version is that your once-a-month housing payment comprising of insurance and taxes must be no more than 20% of your pre-tax income, and your entire debt with your loan payment must be not more than 26%. The ratio that gives the lesser payment is what the moneylender might use. Numerous lenders have more substantial qualification ratios, nonetheless, these are conventionally the most common.

Don’t Overstretch the Use of Credit

If you have a credit card with some amount of limit, that doesn’t essentially mean that you must spend more than the amount on purchases with the card. Similar logic is true when it comes to taking loans. Just because you can be eligible for a certain mortgage amount does not mean that you have to sail throughout your budget. Assure that your new mortgage reimbursement not only fits your bank’s values but your financial plan as well.

Research State and Local Assistance Programs

In addition to central programs, numerous states offer support programs for first-time home purchasers with bonuses like down payment help, closing cost support, bargain-basement interest rates, and tax credits. Your municipality or county might also have first-time home purchaser programs.

Compare Mortgage Rates

Numerous home buyers get an amount quote from only one lender, however. According to the Consumer Financial Protection Bureau, associating mortgage rates from at least three lenders can save you more money on your loan. Get a minimum of three quotes and compare both rates and fees. Ask if any of the lenders will allow you to purchase discount points, which means you would require you to prepay interest upfront to protect a lesser interest rate on your loan.

Mortgage lenders will inspect your credit reports when determining whether to accept a loan and the interest rate. If your credit report has errors, you may get quoted an interest rate that’s far more advanced than you could justify. That’s why ensure to make your credit report is precise and accurate.

Get a Preapproval Letter

You can get pre-qualified for a loan that simply offers you an estimation of how much a lender might be willing to lend. This is founded on your debts and income. However, as you get close to finalizing a home, it’s ideal to get a preapproval. The lender will thoroughly examine your finances and confirm in writing how much he willing to lend you and the under terms. Having a preapproval letter in hand makes you look much more serious to a seller and can give you an upper hand over buyers who haven’t taken this step.

Budget for Mortgage Insurance (if essential)

If you apply less than 30% on the mortgage, you would perhaps have to pay private mortgage insurance and so make sure to budget for this while you are shopping. Mortgage insurance charges can differ meaningfully, depending on your credit, the duration of your mortgage, the amount of the down payment, and additional factors. However, it can enhance an important amount to your payment, so be assured to take it into consideration.

Your REALTOR will make a home purchase agreement that is a contract outlining the agreed-upon price and terms for the purchase of a home for other details.

Stop the Use of Credit Till you Get the Keys in Hand

Not using the credit for anything between the time you’re sanctioned mortgage and when you really are close on the home, is the best practice. Lenders will normally pull your credit two times when you formerly apply for it. If there are any important variations between the two, like a new account or a knowingly higher responsibility balance, it can lead to postponements and can even prohibit you for the mortgage.

Be safe just leave your credit alone till you’ve signed your last documents.

When you lastly close on your home loan, you will have numerous different contracts and forms to check over and sign to make things authorized. One of these agreements is your mortgage agreement. The mortgage agreement is a compulsory contract needed for just about any basic home mortgage loan. You can use this agreement before finalizing a deal. This contract is your promise to pay the mortgage and stand by the loan’s standards and conditions.

Incorporating Modernism Into Landscaping Architecture

By Leslie Fischer

Looking to change up your living space and incorporate more of an “indoor-outdoor” style? That’s one of the main elements of Modernist landscape architecture. The average temps in Clarksville lend themselves to extending your living space into your garden during spring, summer, and fall. The name Modernism is a bit of an oxymoron, as the cultural movement began around the turn of the century … the 20th century!

Modernism says “no” to tradition and “yes” to new and unique ways of approaching art, drama, literature, music, and architecture. In art, it uses shapes, forms, colors, and textures to create an effect that’s open to interpretation. Think Picasso, Matisse, Manet, and O’Keefe. The same concept works in your garden, drawing away from it being a place where you work, to a place where you live.

Indoor/Outdoor Living

We only have so much space in our home and yard. Modernist landscaping design puts it to good use. The idea is to blend the two seamlessly, getting rid of the boundary between inside and outside. One of the best ways to connect the two is through the use of windows and floor-to-ceiling folding glass doors. This allows sunlight to stream into your home and gives you a good view of the garden. Folding, swinging, or sliding doors let you remove the wall when open. This is great for relaxing on calm, sunny days and also provides extra space when entertaining. Modernist artists expressed themselves with cubes, spheres, and square pyramids. You can express yourself by varying the size and shape of your windows.

Plant Shape

The Modernist landscape architect believes less is more. And shape and texture take precedence over flowerbeds. The idea is to have more time to live in and enjoy your indoor/outdoor space. So the garden is no longer a place where you work but, rather, a place you simply relax. The best plants for Modernist landscaping include the sculpture-like yucca and other succulents such as aloe vera. Placement is important to keep the Modernist landscape going, so don’t overcrowd your garden with plants.

Using Pavers

No Modernist landscape design would be complete without using stone. Hardscaping is an art in itself. It continues the uncluttered look of your outdoor space. Create clearly defined spaces with borders and fill them in with stones, small rocks, even gravel. Experiment with the color of the rocks, keeping them the same or create two-toned pathways. Outline a stepping stone path using concrete shapes with more small stones. Or use metal strips to border a paved pathway. You can have grass in your yard but keep it symmetrical, using squares or rectangles and bordering the green patch with pavers. Don’t forget to go Modernist when designing your patio. Using pavers gives a great visual (you can use unique patterns) and texture, and they’re low maintenance.

Pool Area

Pools have been around in the U.S. since the late 1800s but became trendy in California in the 1930s. You know, “swimming pools, movie stars.” This puts them right in the peak of the Modernist movement. Pools linked to Modernism continue the minimalist trend. Many are rectangular, surrounded by lawn or pavers, but some designers use plants and tall grasses as borders.

While clean lines are a favorite, the kidney pool originated with Modernism. The first one was designed by world-famous architect Alvar Aalto in 1939 in Finland. It came during a time when Aalto was moving from Minimalism to Modernist architecture expression. This led to U.S. landscape architects, Thomas Church (a friend of Aalto) and Lawrence Halprin, to build a kidney-shaped pool in California in 1948. So whether you prefer clean lines like squares and rectangles or a kidney shape, be sure your pool fits in with the rest of your Modernist landscape, keeping continuity with your pavers and plants.

Modernism never really went away, but it’s having a bit of a resurgence. If you’re interested but don’t know where to start, Tennessee has many good landscape architects. You’ll certainly be able to find one to make your Modernist landscaping dreams come true.

Leslie Fischer describes herself as a “slow-motion vagabond.” She finds a place she wants to live, buys a fixer-upper and flips it. She writes about real estate and DIY issues.

What is the procedure for expanding your home in Clarksville TN?

A happy contractor with a building permit in his hand jumping in the air, symbolizing the correct procedure for expanding your home in Clarksville TN.

Expanding your home might be one of the more interesting upgrades you can do. We all want to live in a perfect house that has everything we need, and a little extra if possible. However, that is not always a possibility for everyone. With that in mind, if you get an opportunity to do it, make sure to follow all procedures for expanding your home in Clarksville TN.

To help you with that, I will try to lead you through this process and give you useful tips and advice that should make everything smoother!

What is the procedure for expanding your home in Clarksville?

Expanding a home doesn’t only mean having money to make some changes around the house. In reality, there are a lot of permits you have to acquire before you start expanding your home in Clarksville.

In some cases, these permits are needed for your protection. In other cases, you simply must acquire them so you could make changes without any legal consequences.

I strongly advise that you hire professional contractors when making changes to your place. If you obtain a permit for remodeling your home, you are responsible for it, no matter who does the work. That’s why it is important to have experienced professionals who know what they are doing.

Nevertheless, even though the best approach is to hire custom home builders in Clarksville to help with the expansion, it is crucial to understand all aspects yourself.

Required permits

Since now you understand that there are permits you must acquire before expanding your home in Clarksville, let’s see what they are:

structural permit
electrical permit
gas permit
plumbing permit
local permit

Each of these permits covers a different category, and it is a must before making any changes to your home.

Structural permit

Just like constructors must acquire a structural permit when there are new home constructions, it applies to any later changes as well. A structural permit is necessary only if you are making major changes to your home structure. For example, if you wish to build a new wall, or blow out an old one. You cannot make these kinds of changes without a permit.

Electrical permit

An electrical permit is required for all electrical changes around the house. That means even if you are changing one outlet. Furthermore, you are required to follow the latest standards when it comes to electrical wiring. This is required both for your safety, and the safety of constructors. Bad and outdated wiring can lead to terrible accidents.

Gas permit

A gas permit is required only in a case where you want to add a new gas line to your household. If your home runs on electricity only, you can skip this one.

Plumbing permit

A plumbing permit is only necessary if you are changing the location of the plumbing elements, like a sink for example. Any other restorations that don’t fall under that category do not require a plumbing permit.

Local permit

Local permits usually refer to any permits, rules or regulations enforced by the county you live in.

Local permits in Clarksville TN

If you wish to follow the exact procedure for expanding your home in Clarksville, here are some of the local permits you must acquire.

building permit – includes any major changes to a home
demolition permit – required when tearing down any parts of your home
mechanical permit – also a necessity for any new construction or alterations on an existing home
barrier permit – this is a type of permit that must be issued before obtaining a pool permit
pool permit – pool permit is required for any pools that can hold 24 gallons of water or more.

Additional permits in Clarksville

Besides what was mentioned in the previous section, here are some additional permits you must require in Clarksville:

For all properties that are under 5 acres and not a part of a platted subdivision, a plat of the property will be required. This is recorded in Register of Deed’s office by Regional Planning Commission.
Another additional permit required is the yellow copy of the septic tank permit. You can obtain this in the Environmental Division of Ground Water Protection, or apply online on their official website.
If you wish to connect your driveway to a County Road, you will have to obtain a Driveway Permit. It is issued by the local County Highway Department. If you are connecting your property to a state highway, in that case, you have to reach out to your local State Highway Garage. Have in mind a Road Bond issued by the local County Highway Department is necessary before you can get a Building Permit.
Another thing you must get before obtaining a Building Permit is the Adequate Facilities Tax receipt. It must show that everything is paid in full.

Procedure for expanding your home in Clarksville explained!

I know it looks like a lot of information to sink in, but these are the requirements if you wish to follow a procedure for expanding your home in Clarksville. Have in mind that not having these permits will result in a lawsuit. Furthermore, if you don’t obtain some permits and you have property damage or an accident in your home, you will not be able to claim home insurance. With that in mind, keep everything clean, obtain all permits and follow procedures till the end. Good luck!

What are lease options and purchase sales exactly?

A person looking up lease options and purchase sales on a laptop

Renting a home has never been a more approachable option. Not many people, especially young adults that are just starting out, can afford to purchase a home right away. However, renting out a place can have its downsides. One of the biggest ones is having to move often and not feeling as if you have a home. Not truly anyway. Nonetheless, there are some great additional factors that are there to make this process much easier for everyone involved. One of those options is relying on lease options and purchase sales to ensure a safe future for yourself and your future family. We’re here to cover some basics and get you all the information you’ll need to begin with.

What are lease options and purchase sales exactly?

It’s smart to start off with a few basic definitions in order to understand what it is exactly we’re dealing with. A lease option is in other, more formal words, a lease with the option to purchase. This means that, when we’re going over the basics of lease options and purchase sales, we’re actually talking about a situation in which a resident that’s renting out a place has a possibility to purchase the aforementioned place at a point in time. This point in time will, of course, be predetermined in the contract.

There are, of course, many more details that you should consider before going into this process. One of the best ways to stay out of trouble when investing in your first property is to be informed. There are a few ways to verse yourself further in this regard:

● Do a brief online research
When trying to figure out some specifics in the domain of lease options and purchase sales you could find a lot of useful information online. Be wary not to trust every source though, because there certainly is some misinformation going around. Nonetheless, if you look close enough, you’ll surely find some reliable sites that’ll be of help.

● Ask around
Going through your surroundings, age group, line of work and many more factors, there must be someone that has gone through or knows someone that has gone through this process. Try to find out more about what interests you this way.

● Rely on good realtors to help you out
When making a decision this big, we suggest that you don’t do it quickly and always get a second opinion.

Why should you opt for lease options and purchase sales?

There are many perks and reasons as to why you should use lease options and purchase sales. Since this process concerns two parties, we’ve decided to divide these advantages accordingly.

Owner perks

If you haven’t had much luck with selling, lease options and purchase sales are a good way to make your property stand out and seem more attractive. This will, in return, make listing your home and getting it sold much easier to accomplish.

There really isn’t a lot that could go wrong. Let us elaborate on this matter. Even though these types of contracts usually don’t have a binding quality and the people that you’re renting your home to don’t have to purchase your home, you could still benefit. The worst outcome of this deal still isn’t half bad when you really think about it. This just means that you’ve collected some money in the meantime before you actually put your property up for sale.

Since you’re showing some flexibility by opting for lease options and purchase sales, you can justify setting a price that’s a little higher than you otherwise would. This will, in the long run, earn you a significantly better deal.

A checklist that has 'yes' checked off. — There are a lot of perks when it comes to leasing options and purchase sales.

Buyer perks

If you thought that there isn’t a way for both sides to come out full-handed out of this deal, you’re mistaken! Lease options and purchase sales are nothing if not a reciprocal action.

As you’re probably aware of, there’s a lot of paperwork that needs do be done during a relocating process. This could potentially be a bigger problem than just filling out boring documents for days on end. You could stumble upon a problem regarding not being able to purchase another property before selling a previous one. This will help you land safely on your feet without having a lot to lose in the process.

If you’re looking to relocate to an area with which you really don’t have any prior experience, this could be a good way to get the feel of how it would be to live there permanently. This is a great option for those of you that don’t want to commit right away.

Hire a moving company to take care of your relocation

Even though you’re probably dealing with hiring realtors, it might be a smart idea to think about having someone to help you with the actual move. You could hypothetically do this in a DIY manner. However, it’s highly recommended to hire professionals to take care of some things. Even though you might be able to achieve some things that are vaguer on your own, some specifics like transporting electronics to your new address or carrying some fragile items to your new home should be left to someone that has experience.

A person hiring realtors to help with lease options and purchase sales. — It’s smart to think about hiring realtors and movers for some additional help.

Be careful!

This is a disclaimer that we needed to have laid out for anyone that’s serious about lease options and purchase sales. You need to be very careful when making a contract with another party. This is true whether you’re a buyer or a seller. It’s a smart idea to have a lawyer beside you every step of the way, making sure that you’re getting into a situation that’s comfortable and convenient for you.

Meta: Are you looking for a way to purchase a home through lease options and purchase sales? Look no further! We have some tips to make this decision easier.

Feature alt: A house for sale. There are some great lease options and purchase sales out there.

Buying a house with a friend-Is it a good idea?

two room mates who bought a house together

Buying a house with a friend-Is it a good idea?

Buying a house with a friend sounds like a good idea at first. But is it really? Sure, two wallets (or bank accounts in this case) are better than one, living with friends can be lots of fun, and it’s a way to start a fun new life away from your parents but not alone. And there are certainly advantages to taking this route to homeownership. But things are never as simple as they seem. Despite many benefits, getting a house with a friend also comes with some serious downsides. The real question, then, is: do the positives outweigh the negatives? The answer lies in examining the pros and cons of home co-ownership with friends.

You could buy your dream home with the help of a friend.

Pro: you’ll have a bigger budget when buying a house with a friend

One of the biggest problems with buying real estate, especially when you’re buying your first home, is how much money you have to invest. Unless you’re a celebrity or a receiver of some significant inheritance, you’ll need to get a loan from a bank. Even then, you probably won’t have nearly as much as you’re hoping for. In fact, most people end up buying their first home later in life or settling for something smaller and less perfect than what they really want. If you combine strengths (and finances) with a friend, however, that doesn’t have to be you! You’ll have a bigger budget when there are two of you. And then perhaps you won’t have to sacrifice a safe and clean neighborhood or extra square footage. You can both have the house of your dreams right now because you’re buying together.

You could buy your dream home with the help of a friend.

Con: both your credit scores will be examined and affected by the investment

The biggest benefit of buying a home with a friend is, however, also a hidden flaw. When you’re both buying the home, you’re both involved in the process. This means you’ll both be on the mortgage which in turn means the bank will examine both your credit scores. And should something go wrong when buying a new home and leaving Florida and settling down in Tennessee, you’ll both suffer the negative consequences of missed payments or debt. Even just one person’s negative credit score can change your interest rates and affect both of your financial situations.

Pro: sharing expenses makes it easier to deal with

When you’re young and are just getting your first home, budgeting is going to be hard. You’ll have to pay for a good local realtor, some excellent movers, any renovations needed around the house, and all that on top of utilities and groceries and all the regular expenses. It’s completely overwhelming! But much less so when you have someone to share the burden with. If you’re buying a house with a friend, you’ll be sharing at the very least the expenses surrounding that house and the move to it. This will make them much easier to bear.

Con: buying a house with a friend will tie your finances together for the foreseeable future

Once again, shared finances are a double-edged sword. Things could start out great with the two of you splitting the moving estimate you get from www.getmovedtoday.com evenly and both paying your fair share only for things to fall apart three months down the line when you realize your friend can’t afford to participate on the electricity bill. Because that’s the thing with tying up your finances with someone else’s: you’re in it together, for better or for worse. It’ll be great when and if it works. But you’ll depend on your friend to hold up their end of the bargain. And what happens if they can’t?

You’d better be ready to tie yourself financially to your friend for a while if you’re going to buy a home together.

Pro: you get to share your life with a friend

There are plenty of reasons to move to Tennessee, but young people are still hesitant to do it. This is often because moving out of your parents’ home and starting your newly free and adult life is exciting yet terrifying. Many young adults struggle to juggle house chores, work and school, social lives, and relationships when they first start living on their own. If you live with a friend, however, you’re already ahead of the curve:

you have someone to share responsibilities with so you don’t have to cook and clean all by yourself which leaves you with more free time
your friend lives with you so you always have someone to come home to and hang out with
making plans is easy because you can always find your friend at home and discuss it
you have moral support that you can rely on right there in your own home

So living with a friend instead of alone can be a great advantage!

Con: buying a house with a friend may test your bond (and there is no easy way out)

There are, however, downsides to living with friends too. Just because you get along well with someone when you can feasibly escape into your own space without them doesn’t mean you can live with them 24/7 with the same ease. That level of closeness is bound to cause some friction. And there will be a lot of things to argue about.

Disagreements over responsibilities, finances, and lifestyles

Living with someone means learning about all their worst habits. When you haven’t spent extended periods rooming together with your friend, you won’t know if they leave dirty dishes in the sink for days or don’t shower for a week or bring people over in the middle of the night. Worse yet, you won’t know if they remember to pay the bills on time, if they recklessly spend money and end up broke at the end of the month or if they need to borrow a lot.

You may end up arguing with your friend a lot more than you expect.

And although conflict between friends can be a good thing, frequent fights (especially when they are consistently about the same thing) will surely affect your friendship negatively. The worst part? When you own a house together, it’s not that easy to walk away. It takes a lot of time and effort to untangle that kind of connection.

Possible solution – make it formal

One way to avoid disaster is to make things formal from the beginning. Outline your respective responsibilities in a contract in a way that both you and your friend can agree on. You can have a legally binding contract for the financial aspects of buying and owning a house and a less formal one for chores, obligations, and rules about living together. If you choose to take this route, make sure that your agreement details how you can go your separate ways in case it comes to that.

Conclusion: is buying a house with a friend a good idea or a reckless mistake?

Finally, the question remains: is buying a house with a friend a good idea or not? And the answer is that it depends. It depends on you and on your friend, on your relationship and on how you handle living together. Sometimes, things work out great. Other times, not so much. It’s up to you to decide if trying is worth the risk now that you know all the pros and cons.

Should you invest in luxury real estate?

Investing in Luxury Rental homes in Clarksville TN

To some people, owning a luxurious house sounds like a great idea. You can use it to live a high-end, luxurious lifestyle. Or you can opt to rent it out for people who want to have comfortable vacations. Overall, there doesn’t seem to be any downside to owning a luxurious home. Well, technically this is true. But, only if you inherit that home. If, on the other hand, you have to invest in luxury real estate there are certain things you need to consider. Luckily, we are here to help you out.

Why do you want to invest in luxury real estate?

This is the first thing you have to ask yourself when you decide to invest in luxury real estate. Without figuring this question out, you cannot properly consider all the other upsides and downsides of investing in a luxury home. So, before anything else, decide what you are going to use your luxury home for. In theory, there are thousands of reasons why a person might purchase luxury real estate. But, to keep things simple, we are going to narrow it down to two. Buying a home in order to live in it. And buying a home in order to make money off of it.

Before you invest in luxury real estate, think about what you are going to use it for.

Living in a luxury home

Living in a luxury home does sound like a dream. Plenty of room, top-notch appliances, smart home features… What’s not to love? Unfortunately, there are some downsides to living in a luxury real estate, especially if you are not sure about your funding. If you can afford it, life in a luxurious home will be great. But, the last thing you need is that the upkeep and the renovations of your luxury home to be more than you can afford. Furthermore, not everyone likes living in a luxury home. Some people find out that luxury homes are not for them only after purchasing one, which is a situation you don’t want to be in.

The true cost of living in a luxury home

Whether you are building a luxury home from the ground up, or you buying a finished one, you shouldn’t expect to pay less than $2.000.000. In fact, $2.000.000 is a low average of what luxury home costs. Some of them go as high as $50.000.000. But, for the sake of the argument, we are going to assume that the one you are considering is about 2 million dollars. So, is that all you’ll have to pay? Of course not. With a luxurious home come luxurious expenses. Keep in mind that you’ll have to keep your home clean and in good condition. Not to mention the increase in taxes. So, before deciding to invest in luxury real estate, know that being able to afford to buy real estate and to live in it is not the same thing.

Why do you want a luxury home?

One of the most important things to consider is why you actually want a luxurious home. When it comes to business investments of lifestyle changes, there are plenty of others that are much more cost-friendly. So, why do you want to make such a large investment? Some people believe that living in a luxury home will somehow fix their life problems. It won’t. And it can be quite costly to think so. The only thing that your luxury home will bring you is a bit more peace and quiet and an overall nicer home to come to. While it will be exciting at first to live in a home with so many benefits, you’ll soon get used to them. After that, don’t be surprised if you are left with a home that feels pretty much the same as most.

Renting your luxury home can be a good idea to make money.

Using a luxury home to make money

If, on the other hand, you plan to invest in luxury real estate in order to make money, we need to consider a completely different group of issues. Namely, investing in real estate can be a good business. Especially if you already have experience in real estate and you feel that you can take advantage of some nearby opportunities. But, you need to have substantial funds to properly deal with luxury homes. Even though there are plenty of different things movers can help you with like decluttering and storage, you will need to hire professional cleaners and contractors to properly maintain your home. And that can end up being quite expensive. So, here are a couple of things that you need to keep in mind.

What makes luxury homes a good investment

Investing in luxury homes only makes sense if you know your way around high-end real estate. Know that dealing with real-estate in this cost range is considerably different from dealing with “normal” real-estate. The buyers and their demands are substantially different from regular home buyers, and you need to attune to them as soon as possible. Furthermore, you need to know what is in demand now in order to increase the value of a home, as luxury real estate trends can change quite rapidly. So, make sure that you know your way around and that you have clear goals in mind before you start investing in it.

Selling VS renting luxury homes

Renting luxury homes is another way to make money. A lot of homeowners get bored with their luxury homes as they can become isolated and expensive to maintain. Instead, they opt to make money from their homes by renting them. A lot of people want at least a taste of luxury. And the easiest way to get that taste is with renting (just think of renting limos). Once you realize this, you will have an easier time marketing your home and making money from your investment. Just remember to hire a good cleaning service and to legally protect your home from troublesome clients.

Guide to residential architecture in Tennessee

Guide to residential architecture in TN

A beautiful residential home in Clarksville Tennessee.

Most people living in Tennessee don’t realize how rich and fascinating their architecture can be. They walk around the Tennessee streets neglecting to see the history and the beauty that the buildings around them tell. Now, it can be easy to see this history and beauty of buildings like the Fisk University or the Tennessee State Capitol. But, if you take your time and you know what you are looking at, you can even find beauty in residential architecture in Tennessee.

Understanding the residential architecture in Tennessee

Some of you might be wondering how can one find history and beauty in residential buildings. They are just homes, after all. How can they represent anything noteworthy? Well, as it turns out, every residential building tells a story. Some buildings stand as a monument to modern design and top building technologies. While others preserve the spirit of the people who built them long ago. And, since people from all around the world move to Tennessee you have a lot of different architecture styles to admire.

You can learn a lot about local US history by studying residential architecture in Tennessee.

Every piece of residential architecture in Tennessee shows a glimpse of what people considered valuable when they built their homes. And, if you understand the historical period when those homes were built, you will easily appreciate the thought and the emotion that was put into those homes. You can see a lot of American history through those buildings is you only take your time and understand what you are seeing.

Most popular styles of Homes in TN

So, with all the mentioned so far in mind, how are you supposed to look at today’s residential architecture in Tennessee? Well, the best way to look at it is as a mixed bag of different styles. There are over 20 different styles of architecture currently in Tennessee. Some of them are revivals of European styles, brought over by people who moved here in the 19th and the 20th century. While others are more traditional American styles, influenced by their times and lifestyles. So, among all of these styles, which ones should you take note of first? Well, let’s take a look at a couple of architecture styles in Tennessee that are quite popular.

Queen Anne

Richard Norman Shaw popularized this gorgeous style during the 19th century. The biggest boom of this style happened around 1880. This was due to the spreading of the railroad network, which made the distribution of pre-cut architectural details more available. These houses usually have large porches, floor plans, and elaborate decoration. Along with them, you usually see a wide variety of materials, an irregular roofline with many chimneys and stained glass windows. You can also sometimes see colored slate patterned oversize asphalt shingles used as roof coverings. These homes are still in demand, which is why people are selling inherited ones. Bauman and Bauman and George F. Barber designed most of the more elaborate Queen Anne houses in Knoxville.

Greek Revival

The Greek Revival style was one of the most popular residential architectural styles in Tennessee. What gave it it’s distinct look was the porches supported by rounded or prominent square columns. It also has sidelights and transoms at the main entry and small double or triple hung windows. The Greek-style was the craze between 1825 and 1860, as a lot of Greek settlers mover to Tennessee. The seventh American president Andrew Jackson, build his home the Hermitage in this particular style. The revival of the style was influenced largely by Greece’s war for independence (1821-1830) as the American people showed support for Greek patriots.

Homes in Greek Revival style can truly be gorgeous.

Georgian

The Georgian style is one of the oldest architectural styles in Tennessee. But, it is so well designed that it is still popular today. It dates back as far as mid-1600’s England, as architects like Christopher Wren and Inigo Jones used it for inspiration. Skillful custom home builders in Tenessee used English pattern books as a guide in the 18th century. The most notable characteristics of Georgian style include paneled, centered front doors, gable roofs, and cornice moldings.

Where modern architecture is heading

So far, we’ve covered 3 of the 20 different architecture designs in Tennessee. And already you can see how historical events and ideas helped shape the design choices. So, with that in mind, let’s see what the modern homes are like and what the future holds for Tennessee architecture. Keep in mind that finding a home, and settling down here is easy if you know what you are looking for and what is in store.

Modern design

Most modern homes in Tennessee are built with large families in mind. Therefore, they sport a large living room with multiple bedrooms designed to accommodate a 5+ member family. Furthermore, their traditional look seems a lot like homes you can see in 80’s TV shows. A large front yard, an attached garage, and a decent driveway.

Smart homes

Smart homes are the current fastest rising trend in the US. More and more people are realizing the utility and the cost-effectiveness of smart homes, which is why they are becoming more and more popular. They provide a high degree of safety, efficiency, and control. More so then any previous home could do. And, although they can be more expensive to build, they are much cheaper to maintain in the long run.

It is safe to expect that in 20 years most of the homes in the US will be smart.

Now, you might be wondering how will smart homes look. Well, the beauty of smart homes is that they can look any way you see fit. A lot of people choose to “smarten up” their homes by adding some modern features to them. This can range from adding a simple solar panel to an old home. To homes becoming self-sustaining and quite modern looking. As Tennessee is becoming more and more aware of its carbon footprint, it is safe to expect that a lot of new homes will feature eco-friendly, power generating designs.

Why do you need to clean when moving out?

Your house cleaning guide cannot be followed without your focused helpers.

Moving to a new home can be a dreadful task that takes up a lot of our time and energy. There aren’t many enjoyable things during relocation. Still, this is one of those things that must be done, no matter how much we dislike it. Not to burst your bubble, but if you are planning a move, you cannot forget to clean your place once all of your things have been carried out of your home. If it makes you feel better, nobody looks forward to this task. However, if you follow our house cleaning guide, this process will be substantially simplified.

Why do you need to clean when moving out?

For starters, you should clean your old place because it is not acceptable to leave a mess for the new residents. It is a basic common courtesy. On the other hand, you can look at is as if it’s an unwritten law that applies when moving out.

In addition to that, you might have a problem collecting your deposit for a rented property. No landlord in Clarksville TN will return your money unless you leave their property squeaky clean. So, as you can see, unfortunately, there is no way you can avoid cleaning and following a house cleaning guide. In case you must move out but you still haven’t got a new property lined up, it is certainly the time to contact a real estate agent.

Use a broom and a vacuum to get rid of the dust and dirt on your floors.

Should you skip the house cleaning guide and just hire professionals to handle the cleaning for you?

This is a very difficult question. The answer to it mostly depends on your moving budget. When making a moving budget, most people forget to include the costs related to cleaning. So, it is hard to hire professional cleaning assistance if you do not have the funds to support it. One thigs is for sure, if you can afford it, do not hesitate to hire help. There are many things that will occupy you during a move. Therefore, if you can have help and skip this step, do it by all means. One benefit of selling your home in the winter is that professional moving assistance is much cheaper. This can be a trick to free up some room in your budget and hire professional cleaners but luckily, here in Clarksville, they tend to be affordable.

Get cleaning supplies on time

Do not wait for moving day and then run to Dollar General on Madison St to buy everything that you need. Truly, the last thing you want to be doing on moving day is to run around buying cleaning supplies. Handle this in advance, so that on moving day, you can focus on the move and on supervising your movers. In the event that you haven’t made your supply list, it should contain the following items:

bucket
mop
vacuum
furniture polish
dusting rag
different kinds of brushes and sponges
glass cleaner
baking soda
white vinegar

Remember, not all supplies are needed. Buy things you use on a regular basis, with a few small additions.

A mop is a must-have cleaning supply.

Clean things that you will pack

You probably thought that your house cleaning guide will focus mostly on cleaning once the move has been completed. That is only partially correct. Of course, it is very important to clean your residence once all of your items are carried out. However, you should clean things that you plan on packing as well. If you do this, your unpacking process and cleaning your new home will be much easier to handle. Plus, your old home will be left clean as well. There are many features that home buyers look for in a home, but none of them matter if the cleanliness isn’t satisfactory. A dirty, smelly house can and will stop buyers from making an offer on your house.

101 house cleaning guide – start from the top

This advice might sound a bit trivial, but it can make a big difference in the effort and the energy you will invest in this task. For this reason, always clean from top to bottom. For example, always clean the top shelves first. This task needs to be followed by countertop cleaning. The finishing touches are to be done on the floor. If you start the other way around, you might end up dirtying up spaces that you already cleaned. Naturally, cleaning is a hassle so do not make it even harder on yourself.

House cleaning guide cannot be complete without a plan

Before you start, you must have some type of plan or system. Otherwise, at one point you will realize that you are all over the place. You have two options. First, you have the option of focusing on cleaning one type of item. For example, clean all the furniture and until you are done with all furniture pieces, do not switch to a different task. Second, you can always clean one room at a time. By doing so, you can avoid wasting time by running all over the place. It is much less time consuming when you direct your effort into one area.

Make it fun and involve your friends

No house cleaning guide should exist without a moving playlist, friends, and wine or coffee. Everybody knows that moving can be the biggest pain in the neck. Certainly, your friends and family will sympathize. Hence, you should organize a little hang out with them. To be more specific, a little cleaning bonding time. While you clean you can chat and amuse each other. This is a great way to lower the cost of your upcoming move, by not engaging professional cleaners.

Everything is more bearable with a friend, so there is no surprise that the same goes for cleaning.

Making a house cleaning guide is not easy and following it is even harder. However, once you complete your move, you will see that your energy and time were well spent. Nothing can beat the feeling of walking into a new, fresh, and clean home. To get to that point, your old home must be taken care of. So, get motivated and start planning your cleaning excursion. Since you cannot avoid it, you might as well try to make the best of it. Now let’s get your Clarksville TN home Listed and start searching for your new home.

7 expert tips for buying your dream luxury home in Clarksville TN

Get a team together

Figure out what you want

Learn about the pre-approval process

Be aware of the unlisted properties

Don’t just rely on photos

Plan ahead

Consider foreclosures

The right property, at the right price

The local market

Financing

Partners and long-term risks

8 Tips for First-Time Home Buyers

Check your Credit and Stop all New Activities

Evaluate How Much You Can Use

Don’t Overstretch the Use of Credit

Research State and Local Assistance Programs

Compare Mortgage Rates

Get a Preapproval Letter

Budget for Mortgage Insurance (if essential)

Stop the Use of Credit Till you Get the Keys in Hand

Incorporating Modernism Into Landscaping Architecture

Indoor/Outdoor Living

Plant Shape

Using Pavers

Pool Area

What is the procedure for expanding your home in Clarksville?

Required permits

Structural permit

Electrical permit

Gas permit

Plumbing permit

Local permit

Local permits in Clarksville TN

Additional permits in Clarksville

Most popular house upgrades in Clarksville

Procedure for expanding your home in Clarksville explained!

What are lease options and purchase sales exactly?

Why should you opt for lease options and purchase sales?

Owner perks

Buyer perks

Hire a moving company to take care of your relocation

Be careful!

Buying a house with a friend-Is it a good idea?

Pro: you’ll have a bigger budget when buying a house with a friend

Con: both your credit scores will be examined and affected by the investment

Pro: sharing expenses makes it easier to deal with

Con: buying a house with a friend will tie your finances together for the foreseeable future

Pro: you get to share your life with a friend

Con: buying a house with a friend may test your bond (and there is no easy way out)

Disagreements over responsibilities, finances, and lifestyles

Possible solution – make it formal

Conclusion: is buying a house with a friend a good idea or a reckless mistake?

Why do you want to invest in luxury real estate?

Living in a luxury home

The true cost of living in a luxury home

Why do you want a luxury home?

Using a luxury home to make money

What makes luxury homes a good investment

Selling VS renting luxury homes

Guide to residential architecture in TN

Understanding the residential architecture in Tennessee

Most popular styles of Homes in TN

Queen Anne

Greek Revival

Georgian

Where modern architecture is heading

Modern design

Smart homes

Why do you need to clean when moving out?

Should you skip the house cleaning guide and just hire professionals to handle the cleaning for you?

Get cleaning supplies on time

Clean things that you will pack

101 house cleaning guide – start from the top

House cleaning guide cannot be complete without a plan

Make it fun and involve your friends

Clarksville Real Estate Agency

Clarksville Subdivisions

Ron Dayley Realtor – Coldwell Banker CM&H