You may have decided with your Summit NJ real estate agent that a newly constructed home is the best choice for your family.  You’ve probably researched your builder thoroughly and are feeling pretty confident in their product.  You may even be so confident that you think getting an inspection is a big waste of money.

Don’t make this mistake.  A home inspection is a necessary step in the purchase of any piece of Summit NJ real estate.  Problems in a home don’t always stem from age.  Sometimes a problem is there from the start.  Construction is not always perfect and if you don’t get an inspection, you could be in for a nasty surprise even if your home is brand new.

Most builders take extreme pride in their work.  Most are conscientious and careful and do not let shoddy work slip through the cracks.  However there will always be one or two who break the rules and cut corners.  Even if a builder is one of the good guys, mistakes can happen.  When you’re browsing the Summit NJ listings, don’t equate “new” with “perfect.”

There are a few important things your inspector should focus on during your new construction inspection and a few common areas of errors along with all the standard fare.  If you have questions about the process, be sure to ask your Summit NJ realtor.

Grading
The way the earth is graded around a home determines how and where rainwater will collect.  Mistakes here could cause wet, moldy basements and crawlspaces.

Brick Veneers and Flashing
Brick veneers need flashing to direct water running down the surface of the exterior away from the points where brick meets another material.  Doors and windows should have properly installed flashing so that water doesn’t get behind the brick or stucco.

Duct Work
A lot of workers are bumping around in a home under construction.  Ducts can be accidentally knocked loose.  A loose piece of ductwork will divert your climate controlled air into the attic or crawlspaces instead of inside the home.  This can cost you a ton of money in heating and air conditioning bills.

Of course there are many other areas an inspector will cover.  These just happen to be common places where mistakes often occur.  Be sure to ask for a home inspection even if you are purchasing a newly constructed home.  You cannot afford to eliminate this crucial step in the home buying process.

The green movement has taken over our homes.  Whatever the price point of your Summit NJ real estate property, a few green upgrades can make a big difference in both your energy bills and your home’s value.  Who among us doesn’t want to save money and build equity?

Here a few energy efficient updates you can make right away.  Most are simple do-it-yourself projects that you can finish with a single trip to the hardware store and a weekend.  You might even still have time leftover for a ball game or a movie.

Shower Heads
Save water by installing shower heads that conserve and don’t waste.  It only takes a few turns of the wrench to take the old one off and put on a new one.   Just be sure to use silicone tape to seal the thread and prevent wasteful drips.

Programmable Thermostat
Your Summit NJ real estate agent can tell you that smart buyers look for these little devices.  Being able to set a different temperature for different times of day can be a huge money saver.  Plus it’s a great selling feature when for when you put your home in the Summit NJ listings.

Low Flow Toilettes
This job may take a bit more time and effort but it’s still a weekend job.  These water saving devices will lower your water bills by reducing the amount used per flush.  Another faster, easier and cheaper option would be to simply switch out the flushing mechanism with a two stage model.

CFL Light Bulbs
How easy is it to change a light bulb?  There’s no punch line to that question, only savings.  Changing your incandescent bulbs out for CFLs is an energy efficient move that could not be any easier.  They cost a bit more up front but will last many, many times longer and use far less energy.

Air Filters
Changing out you air filters regularly is also very simple and very effective.  A clean filter means your heating and air conditioning system doesn’t have to work so hard and you don’t have to pay so much.

Weather Stripping
Seal up your doors and window with a fresh layer of weather stripping to keep out drafts.  The peel and stick backing makes this an afternoon project at the most.

Water Heater Blanket
Wrapping up your water heater keeps all that heat from escaping into the air.  If your home uses gas for his task you might even want to ditch the old water heater for a tankless model.  However, this will require professional installation.

Your Summit NJ realtor may be able to make some more personalized recommendations for your home’s energy efficiency.  Take a weekend and a few dollars and invest in your home.  When you get your next energy bill, you’ll be glad you made the changes.

More than 18 million members of our country’s proud military have become home owners with the help of home loans from the Department of Veterans Affairs. Congress passed the VA loan guarantee program in 1944 to help returning GIs achieve their American dream. Many Summit NJ listings are purchased with VA loans.

What it is?
A VA loan is a powerful and flexible tool in the world of lending. The VA doesn’t actually issue a loan. Instead it guarantees the loan made to a member of the military. The VA will repay up to about a quarter of the value of the loan in the event that the buyer defaults. This gives a VA-approved lender protection and makes the borrower a safer bet. A lender with a guarantee may be able to garner better terms and more competitive rates which can make owning Summit NJ real estate a more attainable goal.

What are the benefits?
VA loans carry some serious benefits. Borrowers can secure a loan with no money down and no private mortgage insurance. This fact alone brings many military families to their Summit NJ real estate agent.
Less stringent underwriting standards like higher allowable debt to income ratios also make buying property more affordable. Competitive rates and no prepayment penalties can help a buyer pay off their home sooner.

Who qualifies?
Many veterans and active duty personnel qualify for VA loans. An active duty service period of 181 days or 3 months during war time will qualify a service person for a VA loan. National Guard members and reservists with 6 or more years also qualify. Spouses of those who have paid the ultimate price for our freedom qualify for VA loans. Those who qualify should request a Certificate of Eligibility online. A VA-approved lender can help the borrower obtain the proper forms and certificates.

What can be purchased?
A VA loan is typically used to build or buy a primary residence. It can also be used for refinancing your home. An experienced Summit NJ realtor can help you decipher any other options available like rural properties, condo and “fixers”. Investment properties are not eligible for VA loans. Contrary to popular belief, there is no actual cap on VA loans. The maximum amount will vary depending on a number of factors. You should talk to your lender in depth about the amount you will be able to borrow.

Our country’s military members deserve the best terms and conditions for buying a home and a VA loan ensures they get them.

As your Chatham NJ real estate professional, I pride myself on giving my clients the information they need to make informed decisions. The chart shown above allows you to see the length of time that properties are on the market in the Chatham NJ area. This chart is updated in REAL TIME and shows the previous 60 day period.

The other statistic shown here is the median price for Chatham NJ real estate. Median (or middle) price is the threshold which divides the real estate market into two equal halves, in reference to pricing. One half of all homes in the market were sold at a price above the median home price, while the other half were sold below that price.

Contact me today for all of your Chatham NJ real estate market needs.