Packing and moving can stress out even the most layed back among us. Worst yet is the unpacking once getting to the new home. To alleviate some of this stress, take the time to follow a few of these simple tips.

#1. When packing your gadgets, try to get them all into the same box. Because all these gadgets have various cords , it’s best to put tape around them and label what they belong to. This may seem a little excessive, but after a long day of moving, it will be worth the extra effort.

#2. Throw out the old, outdated, and useless gadgets. You know you’ve got a junk drawer with outdated cell phones in it. Or what about the old VCR and game boy? Why move these useless devices with you? Good Will, The Salvation Army and various schools accept your devices and you get a tax write off.

#3. Once you have everything together and packed, don’t forget to protect it. You may have televisions or other things with screens. Extra padding and protection is needed to keep these things from getting scratched by other devises. There are sleeves and protective pouches in all shapes and sizes these days to insure your things are safe.

New Homes in the Triad Featuring Convenience, Comfort and Quality

• Elegant brick townhomes near Winston-Salem bring sophisticated city style to small town North Carolina, while offering the sizable square footage you can’t find in a big city.
   
• Looking for a new home in Greensboro, NC? Need to find a new home close to Winston-Salem or High Point? Trillium’s Kernersville, NC location makes it an ideal spot for those who work in a larger city but want to live in a small town.
   
• Keep the rain off with the spacious two-car garage featured on all Trillium floor plans.
   
• Energy saving features, including professionally engineered insulating systems, double-pane windows, an energy-efficient gas water heater and insulated garage walls add up to long-term savings on utilities.
   
• Gourmet kitchens include custom cabinetry, customizable countertops and attractive, reliable GE appliances.
   
• Some floor plans feature covered porches for enjoying warm summer nights and cool spring days…without inviting a sunburn!
   
• 9 ft. ceilings on the first floor provide a sense of space and light (standard on townhomes; optional on single-family homes).
   
• Prices start in the low $140s for new townhomes near Greensboro, NC, while new homes in this Triad-area neighborhood start at $179,000. Contact us for financing options and a list of our preferred lenders!

To see our wide range of affordable townhomes and new homes in Greensboro, Winston-Salem and High Point, view our large gallery of floor plans. 

To talk to a Tradition Homes representative about floor plans and options at Trillium, contact Debbie Norris at 704.400.3045, or debbie.norris@mytraditionhomes.com

About Living in Kernersville

Kernersville offers the best of the small town experience just a few miles from Greensboro, Winston-Salem and High Point – three of North Carolina’s most prosperous business centers.

Kernersville is a family-friendly community with a bright future, and residents enjoy an affordable, high-quality standard of living. Visit the Kernersville Chamber of Commerce website to find out more: www.kernersvillenc.com

What better way to begin a new phase of your life than a new home? Now is the time to think about investing in a new home. The interest rates remain at an all time low and so do most home prices. Just think about it, if you were to start the process now, you could possibly be in a new home by the summer. Move in just in time to have the friends and family over for a cook out. The kids are out of school so the moving would be much easier on everyone.

Tradition Homes is currently running a special on Move in Ready homes. We are offering up to $10,000 on certain floor plans and communities. Our experienced Sales Counselors are located in Greensboro and Winston-Salem, NC and are ready to help you through the process. It doesn’t cost anything to ask a few questions and get the ball rolling.

Click here for a complete list of Special Offer homes.

As usual, I welcome any questions or comments. Please feel free to email me at tara.york@mytraditionhomes.com

Everyone is entitled to a free credit report every 12 months. A credit report basically shows you a list of your credit history. If you are behind on credit card payments or in default these things will show up on your credit report. A credit score takes your credit report and assigns a number. This is your risk factor to potential lenders.

A credit score is used when determining the likelihood you will repay your debts. When applying for any type of loan, be it car or mortgage, a good credit score is very important.

Credit scores are based on a points system, anywhere between 300 and 850. A credit score is determined by several things:

• 35% is your payment history
• 30% comes from the amounts you owe on current loans/credit cards
• 15% is how long you’ve held credit. This can be from simple store credit cards and/or major credit cards
• 10% is any new credit that you may have on your record
• 10% is the type of credit used (installment loans or revolving credit)

There are three credit rating companies: Equifax, Experian, and TransUnion. The scores are usually within 20 points of each other. Obtaining your credit score is not free and may cost up to $10 or $11.

The positive things about credit scores are that they are constantly updating. If you have a low score but pay down/off a few of your credit cards, it will increase. If you have a long standing history with a company and miss a payment you can always call that company and request it be forgiven. Items will remain on the credit report for 7 years but credit scores are based on the most recent credit history. Also, if you do pay off that credit card, leave that card open, do not close the account. A long standing account, even if there is a zero balance, has a history and that’s good for 15% of your credit score. If you pay your bills on time, keep your balances low and don’t apply for anything new, a high credit score is easy to obtain. If you pay off a big chunk on your credit card, the credit score can increase as soon as the next billing cycle. Credit scores are not carved in stone, only a snapshot in time.

One word to the wise; if you are an authorized user on someone else’s credit card, you can end up with their bad credit on your history. Make sure you keep up with how they’re doing on paying their bills. You don’t want to be surprised to see their problem when you get ready to make a life changing purchase.

Tradition Homes works with several lenders to qualify buyers. These lenders look at many different factors, credit score being one of them. There is a myth out there about needing to have a high credit score (700) in order to buy a home. This is not entirely true. If you think you may have a low credit score but have never requested the information, please contact any of our sales counselors to get the process started. You may be surprised at your score and what we can do for you.

Please contact us if you have any questions about this blog or would like more information about obtaining your credit score.

1. Privacy. Need we say more?  The Edenton floor plan puts the master suite on the first floor of a spacious one and a half story home.  The second story includes two bedrooms for family or guests, as well as a separate bath.
    
2. 

   Formal and informal dining spaces make a home versatile and welcoming.

   Indoor/Outdoor living spaces. The Edenton extends your living area and square footage further with a screened-in porch offering breathtaking views of the Legacy Golf Course. It’s a perfect place to enjoy a cup of coffee on one of our beautiful North Carolina mornings.
    
3. Versatility. Look for floor plans that offer at least one multi-purpose space that can be used as a study, great room, family room, hobby room, library, or even a bedroom. The Edenton floor plan features a second story loft and a 10×10 “hobby room,” providing extra space that you can tailor to your needs and lifestyle.
    
4. Formal and informal entertainment areas. The open and airy living areas of the Edenton include a formal dining room for festive entertaining and a separate breakfast / kitchen area for leisurely, family-friendly dining. 
    
5. A sense of space. The grand entry of the Edenton is a capacious two stories high, featuring an elegant second-floor overlook. The great room features a fireplace for those cozy romantic evenings and a vaulted ceiling with loft overlook. 
    
   
   

   A two-level entryway gives a feeling of light and space.

6. Organizational and space-saving features. Tradition Homes has taken advantage of every inch of space in the Edenton floor plan to provide the ultimate in closet space for pantry and storage.  
    
7. Money-saving “green” features. You have all this and more, including Energy Star certification for the ultimate in new home performance and efficiency, not to mention the savings on your energy bills.
    
8. Style. The Craftsman-style exterior of the Edenton combines the best of traditional quality and contemporary polish. The look of the Edenton is reminiscent of days gone by, lazy Sunday afternoons on the front porch eating homemade ice cream and family gatherings on sunny days.

To find out more about Tradition Homes’ numerous floor plans and options, from townhomes and villas to single family homes and golf course living, take a few moments to browse our gallery.  If you have any questions, or just want more information, contact us at 336.268.2030.  

1. How much do property taxes cost per year? This will affect the monthly cost of the home, 

and you’ll need to have an idea of the tax burden before you commit to home ownership. Remember that taxes are often higher in urban areas than in suburban.

2. Are there any homeowner’s or maintenance dues/fees? While this may be disclosed up front, always ask. Even if you don’t see a neighborhood sign.

3. How much do utilities cost per month in the summer? Winter? The agent will give you a ballpark figure, but, again, these numbers will increase monthly cost of ownership. As a companion question, you may want to ask if the utilities are gas or electric.

4. What is the square footage? Builders should provide a figure for square footage, and that number is confirmed in the appraisal papers at the closing.

5. How long has the builder been building homes in your area? An established builder will have many older properties in the area for you to either view, drive by, or even tour (if for sale), giving you some idea of the craftsmanship involved. A newer builder won’t have that cache, but may offer more modern amenities, designs and floor plans.

6. How long has the builder been in the business of building homes? Experience always counts!

7. What training, credentials, and formal education does the builder maintain? Builders who have extensive or high-quality training and licensure, along with a commitment to continuing education, generally communicate responsibility and care with the properties they build. They are invested in their trade.

8. Can they provide testimonials from recent homebuyers? Testimonials are a great way to find out what a company’s strengths are.

9. Ask for a complete list of all subcontractors working on their homes. If you live and work locally, this list will give you an idea of the kind of business the builders operate and the quality of the workmanship that goes into each home.

10. Ask what type of warranties (structural, maintenance, etc.) the builder offers. This can be a lifesaver for those first one or two years in case something goes wrong.

As always, verify whatever information you gather. A real estate agent can help you gather any necessary paperwork, and a good builder will provide you with documentation when needed.

Well, because of FHA loans, we at Tradition Homes can offer great deals, like the one we have going on currently, where we can get you into a home for $615.00 per month with a 600 credit score. How? Because we base those figures on FHA loans, which allow lower down payments, offer lower interest rates, and are tailored to middle income families.

What do you need to know about this program?

1. The Federal Housing Administration (FHA) doesn’t actually make loans. They insure loans made by approved lenders. Why does that matter? Because an insured loan, with the government’s backing, is less likely to result in a default and loss of money for the lender.
    
2. The minimum down payment for an FHA-insured loan is 3.5%. That’s right. 3.5%. Before you get giddy, remember that this can get you into a home, but can often prove problematic if you need to sell a home in a soft market.
    
3. Buyers with weak credit can qualify for an FHA loan if they have a stable income and a stable employment record.
    
4. This is a big one: FHA loans require owner occupancy. Because FHA loans are designed to get people into homes and to generate stable neighborhoods, they do not allow borrowers to create investment opportunities. However, there is always the possibility that you could be transferred for a job, or have to move within a few years of buying your home. If your house does not sell for some reason (soft market, upside down mortgage, etc.), you may be in a pickle. Talk to your lender before you sign the papers to find out what your options are.
    
5. FHA requires a type of insurance called Mortgage Insurance Premium (MIP). Conventional loans require Private Mortgage Insurance (PMI) if the down payment on the loan is less than 20%. Most, if not all, FHA loan homebuyers pay far less than 20%, so be aware of this extra monthly expense.

If you have questions or concerns about borrowing with an FHA-insured loan, feel free to call a preferred Tradition Homes mortgage lender to talk about your options. For further research, you can also visit the FHA page on the HUD website or Realtor.com.

To learn more about how you can get into a Tradition Home for a low monthly payment, click here for information about homes in the Greensboro area or here for information about homes in the Winston-Salem area.  

 Four months out / September

• Get pre-approved for a mortgage. A potential home buyer should come to the house hunting process already pre-approved. Without pre-approval, you may end up outside your price range and without the ability to follow through with a loan to cover an offer. Know what you can afford before you scout for homes.
   
• Research neighborhoods, schools, and comparables.Start your home hunt with wide concentric circles and narrow to the house search itself. Consider general requirements – city, suburb. Narrow to the more specific requirements – safe neighborhoods, good schools, healthy buying and selling records.

  Walk and drive the neighborhoods that interest you. Drive through at different times of the day – after school lets out in the afternoons, mid-morning, evening. What should you look for? Anything out of the ordinary, the number of homes already for sale, the number of rental properties, and the number of foreclosures. Look for people out and about in good weather – walkers, runners, and children playing outside all indicate safety and comfort.
   

• Find an agent. Finding an agent can be a long process if you don’t know where to look. Websites like Zillow, Trulia, and Realtor.com post reviews of real estate agents, but the best source is word of mouth. Ask friends or acquaintances for recommendations, but always research agents first.
   
• Start looking! Now for the fun part. Start going through houses with your requirements in hand. If you find something that fits your budget and your list, go for it!

One month out / December

• Make an offer. Real estate agents all agree: be sure you are committed to your offer before you sign. A purchase agreement is a binding contract.
   
• Arrange the final details. Now that you’ve found a house, you’ll have to get final approval for your loan and arrange the appraisal, home inspection and walk-through. Your agent or home builder can provide guidance on each of these steps. Also, before you close, make sure you obtain homeowner’s insurance – a requirement for mortgage lenders.
   
• Walk away?Don’t be pressured into buying something. Buying costs or maintenance costs higher than your budget allows? Your home inspection (a must, by the way) turn up expensive repairs? Seller unwilling to work with you? House priced too far above its value (appraisal – another must)? Keep looking and be patient. It’s a buyer’s market and there are many options.

  Again, purchase agreements are legally binding contracts. Make sure your agent accounts for certain contingencies in that contract – including inspections and financing – so that you CAN walk away from a house with major problems.
   

• Close and enjoy! Congratulations! You’ve successfully closed on your new home and are now a home owner.

Remember: With the right plan and wise financial management, buying a home for the first time can put you on the right financial track for many years to come, providing stability and equity not available in a rental.

Get Started Now!

Tradition Homes offers a seamless buying process, walking with you from home selection to closing. We pre-approve the agents, lenders and attorneys we work with, ensuring your financial safety and peace of mind. For more information about our semi-custom homes, town homes and villas, fill out the form below.  A Tradition Homes representative will contact you to discuss your home buying goals and needs.

Six months out / June

• Research mortgage options and rates. Never take the first mortgage option until you have contacted other lenders. It’s currently a buyer’s market, and interest rates are very low, so shop around and talk to friends who have recently been through the home buying process. Websites such as www.Zillow.com and www.Trulia.com (see last week’s blog post) can help you compare mortgage options and rates across several lenders at once.
   
• Research the benefits of new construction v. “move-in ready” homes.Before you start assessing costs, you may want to research the difference between buying a newly constructed, semi-custom home as opposed to an older home. While you don’t have to decide at once, research both so you can consider the costs of owning and buying each kind of house. 

  If you decide on a newly constructed home because you want the personalization options and the lasting value of a semi-custom home, know that a home builder, such as Tradition Homes, can provide a full-service buying process from preferred lenders, real estate agents, and closing attorneys to closing coordination. 

  Also, if you decide to go for a newly constructed house, be prepared for at least four months of construction time (putting you just inside the New Year with your new house!).

• Research and calculate costs of owning a home. The true cost of owning a home is never just the cost of your monthly mortgage. Utilities tend to be higher on single family homes than apartments, property taxes fluctuate…not to mention repair and general maintenance. Even the cost of mowing your own lawn – the initial investment in the mower, the gasoline to keep it moving, the cost to maintain the equipment – is a factor when you’ve been renting for a long time. Consider the cost, weigh the value, and make sure you are setting enough aside each month to tend to these expenses.
   
• Research and calculate the true cost of buying a home. The true cost of buying a home is usually greater than expected. One of Tradition Homes’ Sales Counselors can sit down with you at the beginning of the home buying process and walk you through this process, especially if you are a first-time home buyer. But don’t wait for them to educate you on costs and fees; know what to expect before you talk to an agent.

• Revise your budget. It’s June. Life has probably changed. Something unexpected has come up, or a new expense looms on the horizon. Whatever the case, revisit your earlier budget and allow some room for these changes. If it’s a major change, like an engagement, an impending wedding or a new job, consider postponing your goal for another year so you can focus on that exciting next step in your life.

Check back next week for Part 3 of New Year, New Home. We’ll take you from the four-month mark to move-in day!

To help you on your way, we’ve put together a year-long plan in a series of three blog posts to get you into a new home by this time next year. Having a plan for the home buying process and taking your time to work through it relieves much of the pressure of home buying and keeps you in the driver’s seat.

One of the first rules of home buying is to give yourself as much time as possible. If you can give yourself a year, as this plan advises, do it. If you only have a few months, consider taking a short-term rental and making it a year.

One Year Out / January

1.  Deal with bad debt.

Often called “toxic debt,” high interest debt from credit cards or payday loans ruins your financial peace. While many are forced to dip into debt like this as a result of previous financial hardship, digging out can be difficult and can take much longer than a year depending on debt-load.

Set a timeline to get the debt paid off BEFORE you consider buying a home. If it means postponing home ownership for another year or more, do it. It’s well worth the peace of mind to buy a house when you are financially solvent.

If you look at your finances and decide this isn’t the year to buy, consider talking to a financial advisor (consider www.DaveRamsey.com or www.Crown.org) to help you begin digging out today. After all, you can always keep the information we’ve provided here and use it next year.

2. Establish a budget.

First-time homebuyers unaccustomed to the expenses and pressures of home ownership should plan ahead for those upcoming expenses by establishing a solid, workable budget. Using a free program like Mint (www.Mint.com) or a consumer software like Quicken can help you keep track of your expenditures and bills while visualizing your monthly intake and outlay. A simple spreadsheet or graph may do the job if you don’t need anything complex. The goal? Save as much money as you can.

3. Get a credit report.

The best reason to get a credit report is to know where you stand and to take the steps necessary to repair any damage to report from previous financial hardship.

One of the best steps to maintaining a healthy credit score is to pay all bills on time, every time. Don’t allow even one bill to become late – the damage to your score, while not disastrous, is definitely noticeable. Try to avoid large purchases in the year leading up to your home purchase as well. Every time a company checks your credit report, that check counts against your score.

There are loads of credit report websites out there, but www.AnnualCreditReport.com, set up by the big three credit bureaus (Equifax, Experian and TransUnion), provides reports from all three. And, don’t forget, you are entitled to one free credit report every year according to federal law.

4. Save, save, save.

Not only should you have money in savings to put down on a house (between 10-20%), you may have to bring money to the closing. In addition, you should have a 3-6 month emergency reserve before you buy a home. Other home buying expenses may include a real estate agent commission, any initial repairs sellers won’t cover, travel expenses if you currently live out of state, and all the other fees associated with buying a new home.

To avoid becoming overwhelmed with the cost, give yourself a full year to build up that emergency reserve or to set aside money for any potential redecorating or repairs.

5. Read up.

Keep an eye on real estate news to know where the market is leading up to a home purchase. If the market is in decline in your area, or in the area where you hope to buy, you want to know before you put in an offer on a home.

Check back next week for Part 2 of New Year, New Home!