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5 Homeownership Horror Stories and How to Avoid Them
Homeownership shouldn’t give you the heebie-jeebies.
With Halloween just behind us, potential buyers may find themselves spooked when it comes to committing to homeownership. In fact, between rising prices and daunting down payment amounts, the fact that the homebuying season typically slows down in the fall may not be a coincidence...
The reality is that homeownership doesn’t have to be a creepy, crawly experience, though. In fact, with a little expectation setting and plenty of preparation, you can actually become the hero in even the scariest homeownership horror stories. To assist, we’ve assembled six of the most common scare tactics that potential buyers fall prey to, so you’ll know just what to watch out for and how to overcome.
Daunting Down Payment amounts
The myth that you need 20% down is one of the scariest and most pervasive horror stories in the modern history of homeownership. With ever-increasing asking prices, that figure has slowly climbed higher and higher, discouraging would-be buyers across the nation. To overcome any blood-curdling calculations, keep in mind that the expectation of 20% down is not reality.
While it’s generally true that the more a buyer can contribute to a down payment the better, the actual amount needed will vary widely depending on the type of loan a buyer is interested in. There are also certain first-time homebuyer programs and even basic budgeting tips that can quell some of your anxiety.
A scary-hot market
It’s no secret that the real estate market has been on fire, which could feel a bit intimidating or even outright terrifying (CNN, 2021). Don’t let the competition scare you away, though!
Buyers are turning out in record numbers for a reason. Mortgage rates are enticingly low, people are now spending much more time at home than ever before and homeownership remains an important pillar of the American Dream (The New York Times, 2021). With competitive financing and the right homebuying team, buyers can overcome their fear and find the perfect property no matter the competition.
Sneaky hidden costs
Hidden costs, including property taxes, insurance, and pest control often spook new homeowners (Investopedia, 2021). After all, these charges really will sneak up on you!
To avoid a scare, research and budget for hidden costs ahead of time. The owner of an average mid-sized home can expected to pay nearly $10,000 in hidden costs, although that figure will fluctuate depending on your market and property (MarketWatch, 2018). Regardless, a dedicated bank account or regular budgeting efforts leading up to the purchase can help buyers avoid a hefty financial fright.
Petrifying furniture prices
Once a buyer has officially secured the home of their dreams, they could still be in for quite a shock! After all, furniture certainly isn’t cheap and, in the age of COVID-19, comfort and sturdiness have become far more critical. The potential for fear goes double if the buyer is moving into a significantly larger home and will need to account for spare bedrooms, a home office, dining room, or other new spaces.
Luckily, a few thoughtful practices can ease some of that fear almost instantly. For example, a buyer may want to consider shopping second-hand for affordable and environmentally friendly options. Some eCommerce sites even have a ‘free’ section for further savings. Or, buyers may want to get in the creative spirit and try their hand at DIYing. Buyers might feel less fearful and more powerful with a paintbrush in hand!
Alarming home maintenance tasks
The dryer breaks, the HVAC system is struggling, and there are mounds of leaves just waiting to be raked. Who you gonna call? Unfortunately, not the landlord. Adjusting to managing all aspects of home maintenance can cause yet another shock among new homeowners.
To overcome the fear, buyers might consider employing a calendar to schedule out and track any maintenance projects. For example, buyers should clear the gutters each fall and optimize the sprinkler system every summer. Buyers will also want to make sure to check up on home systems as scheduled even if they don’t need any immediate improvements, as they can still gauge their level of function and make any necessary notes for next year.
From daunting down payment amounts to frightening furniture costs, the path to homeownership can seem a bit harrowing. Luckily, with a deeper understanding of the process and a bit of preparation, buyers can move past fear and into ownership!
Maryland Real Estate Professionals Real Estate Outlook
Central Maryland Housewarming Extravaganza
Welcoming You To Your New Central Maryland Home
Congratulations on your decision to purchase a new home! 🏠 There’s something magical about stepping across the threshold into a space that’s truly yours. The scent of fresh paint, the echo of footsteps on hardwood floors, and the promise of countless memories waiting to be made—it’s a feeling like no other. And what better way to celebrate this milestone than with a Free housewarming party?
That's correct, when you work with a Maryland Real Estate Professionals team member and one of our preferred lenders, we will provide you with the housewarming gift of a housewarming party!
Why a Housewarming Party?
A housewarming party isn’t just about showing off your stylish decor (though that’s definitely part of it!). It’s a chance to open your doors wide and invite friends, family, and neighbors to share in your joy. Here in Central Maryland, we know how to throw a memorable gathering—one that combines warmth, hospitality, and a dash of local flair.
A Housewarming Party Is The Perfect Venue
When you work with a Maryland Real Estate Professional Team Member and on of preferred lenders to purchase your home, we will give you up to $500 towards a housewarming party! Now isn't that an amazing housewarming gift!
After we help you purchase your home, you choose a date that suits your schedule and gives you enough time to settle into your new abode. Maybe you’ve hung up your favorite artwork, arranged the furniture just so, and found the perfect spot for your morning coffee. Now, let’s set the scene for your housewarming party. Whether you have a cozy townhouse in Annapolis, a chic loft in Baltimore, or a sprawling estate in the Frederick County countryside, your home will be the star of the show.
Invitations For This Amazing Housewarming Gift That Spark Excitement
If you provide the Maryland Real Estate Professional team member your guest list, we will send out digital invitations to your guests. HAKUNA MATATA - We want to keep it hassle-free by using platforms that allow you to save invitations as images on your phone. A quick text message with all the details will have your friends marking their calendars. Remember to choose a range of time (say, 3-6pm) rather than a strict starting time. An open-house style party lets guests come and go as they please, without worrying about being late.
Delicious Bites and Sips
Now, let’s talk about the heart of any gathering—the food! Maryland Real Estate Professionals and our preferred lender will provide you with a housewarming gift, so that you will be able to purchase food for the party! For a housewarming party, opt for dishes that are easy to prepare ahead of time. Think bite-sized nibbles, colorful charcuterie boards, and refreshing drinks. Here are some ideas:
- Charcuterie Board: Arrange an assortment of cheeses, cured meats, olives, and fruits. Add some crusty bread and gourmet crackers for a delightful spread.
- Welcome Home Cocktails: Create a signature drink for your party. How about a refreshing Maryland mule with local ginger beer and a splash of bourbon?
- Sweet Treats: Offer a selection of cookies, brownies, or mini cupcakes. Bonus points if they’re homemade!
Maryland Real Estate Professionals Housewarming Gifts That Wow
As guests arrive, greet them with a warm smile and perhaps a small token of appreciation. Here are some thoughtful housewarming gifts ideas:
- Personalized Cutting Board: Engrave it with their new address or a sweet message.
- Custom Home Map: Capture the location of their new home in a beautiful print.
- Indoor Plants: A touch of greenery adds life to any space.
- Welcome Home Sign: A charming addition to their entryway.
- Cookbook: Inspire their culinary adventures in the new kitchen.
Our friends over at DC Laser can help you come up with some amazing housewarming gifts! Just go to www.dclsr.com
Central Maryland Vibes
Maryland Real Estate Professionals has Central Maryand Covered! We know that Central Maryland is a place of contrasts—where historic meets modern, and cityscapes blend with natural beauty. Take inspiration from the region as you decorate your home. Incorporate nautical elements from Annapolis, embrace the industrial chic of Baltimore, or infuse your space with the tranquility of the Chesapeake Bay of the vast countryside of Caroll, Frederick and Washington Counties. Central Maryland is a beautiful place to work, live and play!
Memories in the Making With The Maryland Real Estate Professionals Team!
As the sun sets and the laughter echoes through your rooms, remember that this housewarming party is more than just an event—it’s the beginning of a chapter. A chapter filled with shared meals, cozy movie nights, and impromptu gatherings on the patio. So raise your glass, toast to new beginnings, pass out those housewarming gifts and welcome everyone to your Central Maryland haven.
Whether you’re hosting or attending, a housewarming party is a beautiful way to celebrate the journey of finding and creating a home. Cheers to you and your fellow Marylanders! 🥂🏡 Remember when you work with Maryland Real Estate Professionals, you are working with true professionals, who will look out for your best interest when you are buying your dream home! And don't forget that if you are looking for amazing ideas for housewarming gifts, you want to reach out to DC Laser. They are creative and have wonderful housewarming gifts!
