If you're moving into a new home community where the houses have yet to be built, or if you're building a custom home, you'll want to give some consideration to which lot or homesite you choose. This is the plot of land where your house will be built, so there are some important factors to consider.
Important Factors in Selecting a Lot:
Privacy: Choosing a lot at the end of the street as opposed to smack in the middle of the block will generally offer a bit more privacy, since your house will only be adjacent to one other home.
Traffic: Homes located at the entrance to a community generally see the most vehicle traffic. Homes at the back of the community see the least.
Landscaping: Generally, you want as many trees as possible. Older, more mature trees are typically more desirable as they'll help keep your home out of the sun. More foliage usually equates to more shade and lower air conditioning costs in the summer.
Sun exposure: Speaking of the sun, it helps to visit the community at different times of the day to see which lots get the most sun exposure. Where does the sun rise and set? Will it be beaming right though your bedroom window early in the morning when you're trying to catch those last few minutes of sleep? Sun exposure will fade curtains, furniture and carpeting, too. Be sure to take that into account when choosing your lot.
The Department of Housing and Community Development is pleased to announce the launch of a new initiative designed to make home ownership more accessible to potential buyers who may be hampered by significant student loan debt. The MMP "You've Earned It!" program is open to potential home-buyers with more than $25,000 in student loan debt who are buying a home in one of Maryland’s Sustainable Communities through the Maryland Mortgage Program. Borrowers receive a 2.75% interest rate on the Maryland Mortgage Program’s fixed rate, 30-year mortgage and $10,000 in down payment assistance in the form of a zero percent deferred loan. The program is open to eligible MMP home-buyers purchasing an “eligible property” located in a Sustainable Community in the state of Maryland. To ascertain whether a specific property is located in a Sustainable Community, please call me to check if property is eligible. There are specific requirements for borrowers with existing student loan debt: * Minimum remaining balance of student loan debt: $25,000. The student loan has to be in the name of the borrower for the borrower’s education. * The student loan may be in repayment or deferred status. * A monthly statement or verification from the student loan lender/servicer verifying the amount of the indebtedness must be in the loan file. * All other customary loan underwriting standards and requirements related to student debt apply and they will be used to qualify the home-buyers. Eligible borrowers must qualify for an MMP loan, i.e. credit score, total debt-to-income (DTI) ratio, loan-to-value (LTV) ratio, income and purchase price limitations, asset limitations etc. And all borrowers must complete approved home-buyer education and have their loan originated by a lender on the approved lender list athttp://mmp.maryland.gov/Pages/Find-A-Lender.aspx.
If you are considering selling your home there are many things to consider... such as, pricing, staging, what time is best to list, open houses, updates and what yields the best return on your investment, and negotiating strategies just to name a few.
Before listing your home consult the experts at Bay Green Properties Group with Keller Williams Flagship of Maryland. We are here to help!