Kimberly Cuomo's Blog
Ready to take your home to the next level? Here are upscale tech upgrades to make your home smarter than a Furby, cooler than drone and safer than Gringott’s. That last one might seem like a stretch but if three kids could break in how locked down was it really? Anyways,
The Dyson 360 Eye is an upgraded Roomba. It can be scheduled and operated by phone your phone from anywhere. Which means if you have an impromptu dinner party or the In-Laws are planning to stop by you can start cleaning with a quick tap of your finger. Or you can just set a schedule for it to run a few times a week while you’re at work so you come home to a tidy room.
August Smart Lock is a keyless lock for your home. Instead use your phone as a key which, let’s be honest you always have on you. The best part, however, is that you don’t need to replace your lock and you can still use your key at any time. You can double check to make sure your door is locked and closed on those harried days rushing the kids to the car. entry to home and control who enters home
Upgrade to a curved tv. The curve may seem unusual but it allows for better view no matter where you are in the room. When sitting directly in front of the tv you have the illusion of a wider viewing range as it mimics the curve of our natural sight. Create an immersive experience paired up with a surround sound system.
The Thermasol Microtouch brings the “smart” experience to your shower. Program your preferred settings to have the perfect shower every time. With a heat sensor, you can control the steam shower temperature. And of course, the device comes in several styles and finishes to match the existing hardware in your bathroom
The Dyson 360 Eye is pretty cool but what if you could have a smart lawn mower? Well, the team at Worx built the Landroid just for you. Program the cut height, lawn terrain and even to go back “home” when it’s about to rain. No more running to the gas station to fill up a jug, the Landroid runs off of electricity. It also has safety features to turn off if tipped and pin code access only if stolen.
Upgrade your home tech to upgrade your lifestyle. Spend more time with your family and doing the things you love instead of maintaining your home. Ensure your home is secure and locked up tight for those days you don’t even remember the ride to work. And create a luxury view experience for your home family.
Whether you’re a first time homebuyer or a seasoned homeowner, the terminology of mortgages can be confusing. Since buying a home is such a huge financial decision, you’re also going to want to make sure you understand every step of the process and all of the conditions and fees along the way.
In this article, we’re going to explain some of the common terms you might come across when applying for a home loan, be it online or over the phone. By learning the basic meaning of these terms you’ll feel more confident and prepared going into the application process.
We’ll cover the acronyms, like APRs and ARMs, and the scary sounding terms like “amortization” so that you know everything you need to about the terminology of home loans.
ARM and FRM, or adjustable rate vs fixed rate mortgages. Lenders make their money by charging you interest on your home loan that you pay back over the length of your loan period. Adjustable rate mortgages or ARMs are loans that have interest rates which change over the lifespan of your loan. You may start off at a low, “introductory rate” and later start paying higher amounts depending on the predetermined rate index. Fixed rate mortgages, on the other hand, remain at the same rate throughout the life of the loan. However, refinancing on your loan allows you to receive a different interest rate later down the road.
Amortization. It sounds like a medieval torture technique, but in reality amortization is the process of making your life easier by setting up a fixed repayment schedule. This schedule includes both the interest and the principal loan balance, allowing you to understand how long and how much money will go toward repaying your mortgage.
Equity. Simply state, your equity is the the amount of the home you have paid off. In a sense, it’s the amount of the home that you really own. Your equity increases as you make payments, and having equity can help you buy a new home, or see a return on investment with your current home if the home increases in value.
Assumption and assumability. It isn’t the title of a Jane Austen novel. It’s all about the process of a mortgage changing hands. An assumable mortgage can be transferred to a new buyer, and assumption is the actual transfer of the loan. Assuming a loan can be financially beneficial if the home as increased in value since the mortgage was created.
Escrow. There are a lot of legal implications that come along with buying a home. An escrow is designed to make sure the loan process runs smoothly. It acts as a holding tank for your documents, payments, as well as property taxes and insurance. An escrow performs an important function in the home buying process, and, as a result, charges you a percentage of the home for its services.
Origination fee. Basically a fancy way of saying “processing fee,” the origination covers the cost of processing your mortgage application. It’s one of the many “closing costs” you’ll encounter when buying a home and accounts for all of the legwork your loan officer does to make your mortgage a reality--running credit reports, reviewing income history, and so on.
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You know you want to pursue a home, and as such, likely plan to attend lots of house showings in the near future. Before you check out a residence in-person, however, it generally is a good idea to prepare as much as possible. That way, you can use a home showing to learn about a residence, evaluate a house's pros and cons and determine if a particular home is right for you.
Ultimately, there are many factors to consider before you attend a home showing, and these factors include:
1. Your Home Must-Haves
It often helps to make a list of "must-haves" prior to launching a house search. With this list at your disposal, you can narrow your home search and schedule showings for residences that offer the features you want.
You may want to put together a list of preferred cities and towns, too. This list will help you hone your house search to residences in cities and towns where you want to live. Then, you can set up showings to view residences in these areas.
2. Your Homebuying Budget
You likely have only a finite amount of money you can spend on a residence. If you start a house search with a budget in hand, you can search for homes that fall in line with your finances and schedule property showings accordingly.
Typically, it helps to get pre-approved for a mortgage. If you meet with a variety of banks and credit unions, you can learn about different home financing options. You then can select a mortgage and start to schedule showings for residences that correspond to your budget.
3. Your Homebuying Timeline
If you want to buy a house as quickly as possible, you may want to start scheduling home showings right away. This will enable you to find and relocate to a new home without delay.
On the other hand, if you can afford to be patient, you may want to take a wait-and-see approach to home showings. In this scenario, you may want to keep a close eye on the housing sector in your preferred cities and towns. Because if you do so, you can pounce at opportunities to view quality residences as soon as they become available.
As you get ready to pursue your ideal residence, you may want to hire a real estate agent as well. A real estate agent can set up home showings and offer tips and recommendations to help you streamline your house search. In addition, if you ever have questions during the homebuying journey, a real estate agent can instantly respond to them.
When it comes to home showings, it may be beneficial to prepare. If you consider the aforementioned factors prior to a house showing, you may boost the likelihood of finding your dream house. Perhaps best of all, you could speed up your home search and discover a great residence that you can enjoy for years to come.