The kitchen is one area of the home that sees the most wear and tear. All the water, heat, and food spills add up quickly so it’s important to focus on quality and lasting appeal when you’re choosing materials for a kitchen remodel. Here are a few things you should avoid:
Cheap Laminate Countertops: The bottom rung of laminate is extremely susceptible to wear and tear. It can melt if you forget to place a hot pad under a pan that’s fresh out of the oven and the edges can chip off from repeated exposure to moisture and heat.
Flat Paint: A flat or matte finish is great in rooms with lower traffic, but it’s a bad idea in the kitchen where the walls are regularly exposed to splatters and spills. You need paint that can withstand an occasional heavy scrubbing, so opt for gloss or semi-gloss finishes.
Trendy Backsplash: If you watch any home remodeling show, you’ll certainly see kitchens with expensive, elaborate backsplash designs and materials. Those trends can be pricey to pursue and can look dated in a hurry. Subway tile is a cheaper, classic option that you’ll never regret, plus you’ll have more room in your budget to purchase quality materials to be used elsewhere.
Cheap Flooring: Just like the countertops, your kitchen floor needs to be strong enough to take some abuse. Cheap flooring easily scuffs and peels (especially from moisture). Quality flooring is worth the investment.
When multiple people participate in a home purchase, they may not be married. They might be in a legal domestic partnership, committed relationship, common law marriage, or even strictly business partners. When it comes to buying a home with someone you’re not married to, there are things to take into consideration before making the very big decision of buying the home. Also, it’s important to check state and local laws as some states and towns have laws that prohibit unmarried couples from buying property together.
Share Financial Information
Sharing financial information is a big must when it comes to buying property with anyone (whether married or not). Financial information includes everything from income/salary, all debt (any current loans, student loan debt, car loans, etc.), credit scores, retirement accounts and any other income that might not be from a regular job. You have to be completely upfront about all finances, especially if you plan on applying for a mortgage loan. When applying for a mortgage loan, married couples have an advantage; they may be able to use the better credit history/credit score to apply for a loan; for couples that are not married, the mortgage lender will treat each person as an individual, meaning the lower of the two scores will take precedence when it comes to the terms of the loan.
Discuss and Plan Who Pays What
Buying a home is a big financial decision, and requires a sound understanding of who will be responsible for what. This includes paying any mortgage payments, household bills, property taxes, etc. If you’re purchasing a property with someone you’re not legally married to, it’s important to spell out and have a firm written ‘contract’ regarding who pays for what or how much. Before you buy, you need to agree on how much each person is going to contribute to the down payment, how much equity percentage each person will have in the property, and what each person will contribute to the mortgage, taxes, utilities, maintenance and anything else that may come up.
Have a Joint Bank Account
While joining bank accounts with the person you buy a home with isn’t a necessity, it is a good idea to have a shared account in which each person deposits their share of the home costs. When it comes to paying a mortgage, there are easier ways to pay beyond writing a check. With the advent of online banking and automatic withdrawal, you can set up the mortgage payment to come out of a joint account on the same day each month, making the mortgage payment easy and stress-free. With a shared account, any money for household bills, property improvements, taxes and anything else that may be considered important can come out of the joint account.
For buyers applying for a mortgage loan, maintaining the same level of credit between being approved and the final closing is extremely important for a successful transaction. A person’s credit can be impacted by anything: changing jobs, getting a new credit card, closing a credit card, falling behind on payments, and even adding additional debt through large purchases. Surprises when it comes to a buyer’s credit can be a deal breaker for the lender; to prevent issues, a buyer can contact the lender ahead of closing to discuss any surprises that may have come up and come to a solution. The best way to prevent credit surprises: avoid making large financial decisions prior to closing.
Decide On the Type of Title
When buying a home with someone you’re not married to, there are three different ways to “take title:”
Sole Ownership – This is where only one person’s name is on the title/deed, which means that one person is the only legal owner. Sometimes this choice is a good idea if one partner has poor credit and doesn’t want to be part of the mortgage decision. Other times, the higher-income partner may want to be able to use the house-related tax deductions on his/her taxes. The good news is that if the other person wants to be added to the title later on, there is a process in which to do it.
Joint Tenants – This option is available for those owners that want to have equal shares of the property. Both a benefit and a risk of this type of title is that one partner cannot sell the house without the other partner’s permission. Should one of the partners die, the “right of survivorship” guarantees the other partner inherits the other half of the property. In most states Joint Tenants comes with the right of survivorship, while in others it will need to be specifically stated on the title.
Tenants in Common – This is an option that allows multiple owners of a home/property, and for the owners to possess unequal shares. With this type of title, it is possible for any one of the owners to sell his/her share of the property at any time. Should one party die, that party’s share is left to whomever the party wished – the share doesn’t automatically go to the other owner(s). If this title is chosen, it’s important to get the percentages in writing, as very often the law will assume an equal split of the property.
Whether in a committed relationship, business partners, or buying property with a sibling/friend, property ownership is definitely a possibility. If you have any questions, your agent is able to provide additional guidance on buying a home with a non-spouse.
Team George Weeks has become one of middle Tennessee’s top real estate teams because we have always put the needs of our clients first. Starting with the agent, to marketing, to administration and to closing we strive to make sure every “T” is crossed and every “I” is dotted so the client can relax knowing their transaction is being handled professionally and smoothly. Our clients become our friends because we treat them like we treat our friends and our friends deserve the best. The resulting reviews and testimonials we consistently receive from our happy clients tell us that what we are doing works.
Thank you D’Lynn for becoming one of those friends. We look forward to serving your real estate needs again in the future!
If you’re drawn to middle Tennessee then one great option is Rutherford county. Growing at a frantic pace, Murfreesboro, Tennessee serves as the county seat of one of the fastest growing cities in the country. Considered the center of population for the state of Tennessee.
Low cost of living
There are many reasons why you should choose Murfreesboro as your next home. For one, the cost of living here is low here in comparison to other cities of Tennessee. Median home prices here are $181000 while median household income is slightly more than $50000. As compared to the national average, the cost of living in Murfreesboro is 5.4% lower. Imagine the kind of savings that you can achieve when you buy a property and start living in this city. There is no dearth of modern amenities for you especially in the world of entertainment as there are many parks and recreational attractions in the city.
Quick and easy access to all major cities of Tennessee
Murfreesboro lies pretty close to capital Nashville (35 miles), allowing residents quick and easy access to the capital in just a few minutes. In fact, more and more people desirous of living in Tennessee are giving up Nashville as an option and preferring Murfreesboro instead because of lower property prices and lower cost of living.
The motto of the city of Murfreesboro is ‘Creating a better quality of life’. With the rapid growth and development of amenities in the city, it is clear that the administration is leaving no stone unturned to make Murfreesboro one of the best places to live in the USA.
Excellent educational opportunities for kids
If education of your kids is your prime concern, you can sit back and relax as Murfreesboro has a strong system of public and private schools to look after the educational requirements of children. The city is also home to Middle Tennessee State University with an enrollment of more than 25000 students. You sometimes get the feel of living in a college town when living in Murfreesboro.
There are many homes for sale in Murfreesboro Tennessee when you decide to make Murfreesboro your next home. However, it is prudent to consult a local experienced realtor to strike a good deal when buying a property.
Join Shannon Orrand with Team George Weeks for an Open House and live-stream at this beautiful 4 bedroom brick home located in north Murfreesboro in the Oakleigh community. Beautiful custom millwork, hardwood, fireplace, in-ground pool and more!
Ask Shannon questions on live video or come on down to the Open House and ask in person. This home is in a wonderful location and at a great price!