Homes.com Staff

How an Escalation Clause Can Enhance Your Offer

When you find the perfect home, being outbid by another prospective buyer can cause frustration and disappointment. Multiple offers are common in a competitive real estate market, and an escalation clause can help by allowing you to increase your bid when a seller receives competing offers for a higher purchase price.

January 1, 2025

Should You Invest in a Fixer-Upper?

  

January 1, 2025

How Much Home Could You Afford Around The World?

It costs more than ever to get your foot on the property ladder and own your own home, but how does real estate affordability compare across the globe?As an example, while someone earning the average salary in the US could afford a property of around 670 ft2 in size, the typical Brit would only be able to afford around 215 ft2; a 68% reduction in size.To demonstrate the affordability of property around the world, Homes.com set out to research the cost per square ft of homes in all 36 OECD countries alongside the median annual household income in each, assuming a salary multiplier of 3x for affordability.

January 1, 2025

Mortgage 101: The Dos And Don'ts Of Choosing A Cosigner

What You Need to Know Before Selecting a Cosigner for Your Home Loan

January 1, 2025

5 Ways to Know if Your Potential New Home’s Neighborhood is Safe

Buying or building a home is one of the biggest investments you can make in your lifetime. With the average home in the United States costing around  $240,000, it is more important than ever to choose wisely the neighborhood where you purchase or build a home, as you’ll want to be happy with your investment.Nothing affects the value and enjoyment of a home as much as the surrounding area. If your neighborhood is not safe, you and your family will live in fear and you may be unable to sell the home without suffering a financial loss.Here are the top five ways to know if a potential neighborhood is safe.

January 1, 2025

5 Zoning Issues You Need to Be Aware of Before Buying Farm Land

If you thought neighbors were quick to complain about loud music and barking dogs, wait until you start raising bees, chickens or goats in your backyard. If you’ve failed to do your due diligence before buying a home and property to farm, you’re going to be in for a lot of headaches. On the other hand, if you have dreams of living in the country without the smells, sounds and culture of farm life make sure you know what you’re getting into as well.It is possible to find property where you can peacefully co-exist with neighbors and have livestock and a huge garden, or not; but there are five things you’ll want to know first — and the right Realtor can help you find those answers.

January 1, 2025

12 Unconventional Factors That Affect Property Value

When buying a home, you need to factor in the likelihood that it will increase in value because building home equity is one of the most important benefits of homeownership. Over time, you want to see the home's value grow so you can build up more and more equity.There are many things that impact a home's value — square footage, size of the property, and quality of the construction — but numerous unconventional factors also play a role.

January 1, 2025

What Does a Real Estate Agent Do? 15 Benefits Explained

Buying or selling a home is not just about finding the perfect place or getting the best price. Every real estate transaction involves a maze of legal details, negotiations and countless moving parts. While it’s an exciting process, it can feel overwhelming without the right help. 

January 1, 2025

Selling Your Home: A Step-by-Step Guide

Selling your home is a complex process that requires careful planning. You’ll market your home to potential buyers in hopes of receiving a fair offer. From there, you’ll negotiate the sale price and go through multiple steps before closing the deal. 

January 1, 2025

Eight Ways to Save on Homeowners' Insurance

When you qualify for a mortgage, your lender will require you to take out insurance to protect the value of your home. Even if you don't have a mortgage, you will want to protect your more valuable asset with property and casualty insurance that covers your home and its contents.Homeowners paid an average of $1,173 for home insurance in 2015, the most recent year for which data is available, but costs vary significantly by location. Florida had the highest average homeowners' insurance premium in 2015 ($1,993), and Oregon had the lowest ($643), according to the Insurance Information Institute.Standard home insurance policies provide financial protection against loss due to most natural disasters, fire, theft and accidents. Most standard policies include four essential types of coverage: coverage for the structure of your home; coverage for your personal belongings; limited liability protection; and coverage for additional living expenses.Most standard homeowners' policies don't cover damage from a sewer backup, sinkholes, termite damage and business losses. Many property and casualty insurers offer 'riders,' or separate policies that provide additional coverage. Homeowners can buy insurance from pest control companies that cover damage from pests and flood insurance is available through FEMA's flood insurance program or private insurers. Standard home policies have limits on the dollar amount of liability that they cover, but homeowners can buy 'umbrella' policies that provide additional liability coverage.In nineteen states and the District of Columbia, homeowners can buy coverage for hurricanes, tornadoes, and other windstorms. To some degree, depending on the state, insurance companies determine the level of the hurricane or windstorm or wind/hail deductible and where it should apply, except in Florida where state law dictates these variables. Insurers' hurricane deductible plans must be reviewed by the individual state insurance department where they may be subject to various regulations and laws.Coverage for earthquake damage is excluded in most property insurance policies, including homeowners and business owners package policies. If you live in an earthquake-prone area like California or Hawaii, you can buy a special earthquake insurance policy or commercial property rider.Lenders require proof of homeowners' insurance coverage at closing, so buyers shouldn't put off learning about homeowner's insurance and finding an insurance provider. Many buyers don't shop for the best deal and end up paying more than they need to for coverage to protect their homes.Here are eight tips that will help you find the best policy for your needs at the best price.

January 1, 2025