5 Preparation Steps to Buy a House

5 Preparation Steps to Buy a House

Springing into a new year has goal setting on our mind. New Year’s resolutions come in many shapes and sizes. Many pertain to fitness, finances, studies, social advances, and self care, but have you considered purchasing a house? It’s a resolution that can change your life. If you already own a home, refinancing, or finding another house to fit all of your needs might also be an option for the goal list. Purchasing a home in a hot market might have you thoughtful about what you need to do to achieve that goal. Is it even possible right now? Of course it is! With the right team behind you, the possibilities are endless. Whether you’re a first time buyer or you desire to sell and change your location, there are things to do to prepare. So, what exactly needs to happen in order for you to purchase a home? What are some practical steps that can take you in the right direction? Is right now the time to purchase for you? Find a reliable realtor. Realtors are essential in the current housing market. Part of preparation includes finding the perfect match for the person who will fight for you during all aspects of this process, show you houses on a flexible schedule, and who will be your match maker for you and the perfect home! The Romanski Group would be honored to represent you in this endeavor!Keep an eye on your credit score. Keep that credit score high and reliable during all stages of purchasing a home. It opens up doors for your loan officer to get you the...
Indiana Property Tax Exemption Deadline

Indiana Property Tax Exemption Deadline

Are You Entitled to a Property Tax Exemption? If you purchased a house, changed the deed, or refinanced on your mortgage, you should make sure the correct exemptions are filed on your home. The Romanski Group of Keller Williams Realty wants to remind you to file your property tax exemptions by the end of the year!  If exemptions aren’t filed or confirmed by December 31 your taxes could go up substantially.  Below is a summary of common exemptions along with contact information for each county below. Homestead Deduction – If you own a home or are buying on a recorded contract, and use it as your primary place of residence, your home could qualify for a homeowner’s deduction. A taxpayer cannot receive the Homestead Deduction in multiple states as the homestead is considered the “principle place of residence”. The deduction is either 60% of your assessed valuation or a maximum of $45,000. Mortgage Deduction – If you are buying property on a recorded mortgage or a recorded contract, and you are a resident of the State of Indiana, you could qualify for a mortgage deduction. The value of the deduction may not exceed the amount of the indebtedness. The deduction is either one half of your assessed valuation or $3,000, whichever is less. A person owning more than one property may not receive mortgage deductions totaling more than $3,000. There are several other property tax exemptions that may be available to you as well which you may want to inquire about. Please find your county below and file your homestead and mortgage exemptions or verify and get proof in...
8 Tips for Saving a Home’s Down Payment

8 Tips for Saving a Home’s Down Payment

When you really get serious about buying your first home, there are a just few things to think about. Mortgage and loan language begins coming out of the woodwork, and you can easily find yourself in the middle of some alphabet soup. PMI, FHA, USDA, and VA- just to name a few! However, the main and pressing age old question remains: exactly how much money do I need to purchase a home? Here are a few tips and tidbits for your down payment planning and saving process. You’ll be there before you know it, in the home of your dreams! We can’t wait to help you attain those goals! Know your personal goal! Many loans these days offer options for you to get into the house of your dreams sooner, with less down payment money. Research the types of loans available to you, and then decide what works best for you and your family! Does 20% sound overwhelming or like that’s where you want to begin you home ownership journey? It’s totally up to you! Cut expenses. This is one that many don’t think about! Where can you save? Can the phone bill be minimized by shopping around? What about cable and internet packages? Can the cost be cut with a bundle? Or the car payment? These are just a few places to begin!No vacation for a year. Yikes! We’re only proposing that you have a stay-cation instead! Enjoy family time at the park or on bikes at Prophetstown.Work with a realtor. There are obviously many benefits in having a build in companion to walk with through this process....
5 Things to Consider When Buying a Home

5 Things to Consider When Buying a Home

When it comes to buying a house, the phrase, “different strokes for different folks” applies in a major way. Everyone has a wish list and different needs for their family or personal situation. However, there are some major “do’s and don’t’s” in the world of buying a house, and we’re here to help you make the best possible outcome in one of the biggest financial decisions of your life. Use us as your real estate team. We love Lafayette, IN, and we know all its nooks and crannies. The Romanski Group is knowledgeable in the current housing market, and they stay up to date with all the houses hitting the market, making you the first to know about new inventory! We can even help you identify potential problems within the houses you look at. Don’t make the mistake of trying to do this alone!Look beyond paint. Wall paper, paint, and other cosmetic decor that you don’t like in a house can all be changed. Check out the larger, more expensive fixes that might need some love in the near future!Know the neighborhoods. Before you begin looking, have an idea of what you want in a neighborhood or community.Get pre-approved. Know where to begin for a price point! Be ready to make an offer with a pre-approval letter when you find that perfect house – it’s very possible you may be in a bidding war and a pre-approval letter is critical to getting your offer accepted. Mortgage lenders can help you figure your debt to income ratio and figure the monthly payment for you on every home you look at....
Top Tips for First Time Homebuyers

Top Tips for First Time Homebuyers

Home ownership is an admirable step into the American Dream. However, if you’re a first time home buyer, there might be some mystery looming about the process. There really are so many facets to purchasing a home, but once you understand it all, it’s smooth sailing. That’s what we’re here for. We want you to know exactly what you’re getting into, and we even have some tips for you to start with! Shop around for a lender. We have a recommendations that we love to work with who’ve taken great care of our clients. Ask questions about things such as earnest money, PMI, loan selling, and types of loans.You do not need 20% down to purchase a home. There are many mortgage options allowing from 0% down (USDA and VA loans), 3.5% down (FHA) and 5% or more down options with Conventional financing. Click here to view the difference between them all!Hire a Romanski Group Real Estate Agent to represent your best interests.Don’t move too quickly! Be patient. You might need to make a list of totally non negotiables, but let the rest go. Set a budget and do not exceed your budget! Diligence in this area gives freedom in the buying process because you know exactly what you can and cannot afford. When looking at houses, be sure to take in the neighborhood as well! Here are a few tips on that. Building a home is also an option as a first time homebuyer. Contact The Romanski Group for a list of recommended home builders in the Greater Lafayette area. Periodically, our team organizes a First Time Home...
Back in Business: Where We’re Going COVID-19 Updates

Back in Business: Where We’re Going COVID-19 Updates

As Indiana continues to take strides toward long term physical, social, and economical health, Gov. Eric Holcomb and his team have another wave of openings and developments unfolding for the entire state. The next segment, affectionately titled, “Where We’re Going” gives clear instruction for the current active date of June 14th, 2020. Journey with us and explore the details of what Greater Lafayette, IN life will be like as stage 3 gives way! For future or additional modifications and up to date social distance regulations, please refer to the “Back on Track” website. It’s easy to navigate, with convenient, accessible, thorough information. The official Executive Order details can be found here. Who is Open or Opening Soon? According to Governor Eric Holcomb’s Back on Track Plan, we are currently in stage 3. This includes gatherings of up to 100 people, restaurants open at 50% capacity, gym openings, and quite a bit more. Click here to view an entire document recording all specifics of stage 3. On June 14th, 2020, Indiana moves into stage 4. This moves restaurant seating to 75% capacity, malls and office buildings to full capacity, opens and lifts restrictions of government buildings, and opens movie theaters and bowling alleys at 50% capacity. Click here to view the entire document recording app specifics of stage 4. Real Estate and the Corona Virus Real Estate remains an essential business, and we’re ready to help at any time. Buying a home right now is a great option with interest rates at record lows! The market tilts in the seller’s favor currently, so selling your home is a great options right now,...