Brian O'Neil - RE/MAX Advantage I



Posted by Brian OíNeil on 10/15/2017

If you donít have a lot of cash on hand to secure a home with a sizable downpayment, you might feel stuck. Itís quite a feat to be able to save up the 20 percent cost of a home that is generally required to purchase a home. Your options may seem limited when you want to own a home. There is one option that could be a good idea to consider when youíre in this situation. Thatís the idea of finding a rent-to-own property. 


How Does A Rent-To-Own Property Work?


First, know that these properties are hard to find. Thatís why you may not have thought of it as a first option. When you do find a property like this that suits your needs, you should know all of the ins and outs before you commit to the home. The agreement works just as it sounds, but there are always a few bits of extra text that can make the difference in any agreement in a rent-to-own property. 



Lease With A Purchase Option


With this type of agreement, youíll need to pay what is called an option fee in order to give you the right to purchase the property at a later date. The seller is then required to sell the property to you as a tenant and apply the option fee to the price of purchase. If for some reason you have paid the option fee and decide to walk away from the property after a time, the money that you have paid as an option is simply lost. The option fee is usually a percentage of the purchase price ranging anywhere from 2-7 percent of the homeís price.  


Lease And Purchase Agreement Rolled Into One


In this type of rent-to-own agreement, both the tenant and the seller agree on fixed purchase price for the home, or agree that a purchase price will be determined at a later date through an appraisal. Everything is set up from the beginning including the closing date for the home.


This type of deal in a rent-to-own situation is often considered the better choice. Know that a fixed price option may put you in a better financial position than an appraisal option. Youíll have instant equity in the property when you buy it. This is especially helpful in high competition markets. In any other types of market, you may be better off with an appraisal. This ensures that you donít overpay for the house.


How Your Rent Payments Apply


Rent-to-own gives you an advantage in that you get the added benefit of rent credits. This is where a percentage of your monthly rent payment is applied to the purchase price of the home. The amount of percentage thatís applied will be agreed upon with your landlord ahead of time.


While a rent-to-own option to purchase a property can be a bit more complicated than other ways of purchasing a home, it can be a great way for people different financial situations to become home owners. Make sure you go over everything carefully before you sign anything so that you fully understand the agreement youíre entering into.       

     







Categories: Uncategorized  


Posted by Brian OíNeil on 10/8/2017

Rising global populations are fueling opportunities to create innovative ways to reduce energy consumption. Growing populations are also pushing thought leaders to develop products that save time, lower stress and make homes safer. Technology is at the center of these developments. The trendy term for these new products is smart home technology.

Cool home product redesigns

New smart home technologies are being developed at a speed that can, at times, feel alarming. Other times, new product developments don't seem to happen fast enough. Some smart home devices are merely redesigns on traditional equipment.

Examples of these products are computer keyboards, flash drives and kitchen bottle openers. Redesigned computer keyboards wipe away worry that you're keyboard will become permanently damaged should it get wet. In fact, redesigned keyboards can withstand a washing.

Flash drives that are redesigned display the name of files stored on them. You can click arrows on redesigned flash drives until you find the file you're looking for. Thanks to redesigned bottle openers, you won't have to waste time searching for a bottle top. The cap stays in the opener until you discard the cap permanently.

Emerging smart home devices

As cool as those smart home devices are, they aren't innovative from the bottom up. Totally new smart home devices offer optimum advantages. Check out these smart home devices that may soon become top trends.

Amazon Echo - If you've ever felt frustrated as you raced through your house in search of a smart home device, you might love the Amazon Echo. With the Echo, you simply speak commands and the device will go to work for you. It works as a central point of control for your other smart home devices.

Wireless lighting - Years ago, it was hand clapping lights. Now, it's wireless lighting.Smart home wireless devices let you brighten or dim light levels at your house by pressing a control panel. Link smart light bulbs to the device so you can adjust light levels throughout your house.

Window Treatments - Similar to a television remote control, window treatment remotes lower and raise shades and blinds. Protections offered with window treatment remote controls are physical safety, particularly for children. Because you don't need to open and close window treatments with a cord, you can install cordless blinds,shades and other window treatments throughout your home.

Trash receptacles - You can truly live clutter free with a smart trash can. The can rest on wheels. Intelligence built into trash receptacles leads the can toward trash that you're tossing in the can's direction. Get this receptacle and you could easily watch the number of times that trash lands on the floor decrease.

Smart home devices that don't operate on electricity can become true energy savers. Other smart home devices reduce frustration and stress, removing the need to hunt for products. These devices also help homeowners to shorten the time that it takes to go from bed to a vehicle and work.

The one challenge that developing products could create is an appetite for continual learning. People who use new home technologies will have to keep up with steps on how to operate and connect cyber and hand-held tools. The outcome could be inspiring. After all, it's through ongoing learning that homeowners discover how they can redesign, upgrade and structure their houses to meet their personal changing needs and wants.




Categories: Uncategorized  


Posted by Brian OíNeil on 10/2/2017

This Single-Family in Worcester, MA recently sold for $223,000. This Ranch style home was sold by Brian OíNeil - RE/MAX Advantage I.


52 Sussex Ln, Worcester, MA 01602

Single-Family

$229,900
Price
$223,000
Sale Price

6
Rooms
3
Beds
1
Baths
Tatnuck area 3 bedroom ranch on nearly half acre wooded lot. Hardwood floors, large living/dining area, family room addition with fireplace. Finished bonus room in basement with work area, gas heating, and generator hookup. Minutes from Boynton Park.

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Categories: Sold Homes  


Posted by Brian OíNeil on 9/27/2017


14 Colonial Rd, Webster, MA 01570

Single-Family

$259,900
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Newly renovated 6 room, 3 bedroom, 1.5 bath Colonial with large yard, deck, and water view of Webster Lake! First floor boasts new kitchen with dark wood flooring, granite countertops and stainless steel appliances. Open dining room with wainscoting, living room with modern electric wall fireplace heater. Three bedrooms and full bath on second floor.
Open House
Sunday
October 01 at 11:00 AM to 12:30 PM
More Open Houses
Cannot make the Open Houses?
Location: 14 Colonial Rd, Webster, MA 01570    Get Directions

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Categories: Open House  


Posted by Brian OíNeil on 9/26/2017


14 Colonial Rd, Webster, MA 01570

Single-Family

$259,900
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Newly renovated 6 room, 3 bedroom, 1.5 bath Colonial with large yard, deck, and water view of Webster Lake! First floor boasts new kitchen with dark wood flooring, granite countertops and stainless steel appliances. Open dining room with wainscoting, living room with modern electric wall fireplace heater. Three bedrooms and full bath on second floor.
Open House
Sunday
October 01 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 14 Colonial Rd, Webster, MA 01570    Get Directions

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Categories: Open House