Ready to Buy, Now What? 3 Things Every Buyer Should Know

This past week I have twice answered the question, "I think I am ready to buy, now what?"  At some point every homeowner has been at this point. They may have done some research, or think they now where they would like to buy a home, but don't know where to begin.

1. Find an agent. A good agent will be able to point you in the right direction and counsel you through the steps. An agent will help build the team of professionals it may take to get a buyer into a home.

2. Pre-Approval. The first question most agents ask is "are  you pre-approved?" In the age of internet  listings and online mortgage applications first time homebuyers come to agents at different times in the process. If you haven't been pre-approved the agent should recommend a mortgage broker who MEETS YOUR NEEDS. Mortgages are not one size fits all, neither are mortgage brokers and loan officers. If the agent recommends someone and they can't tell you why that person is right for you, run away. Applying for a mortgage can seem scary and you want a professional that is going to work well with you and try to get you the best loan.

3.House Hunting. Now that you have an agent a mortgage professional and a pre-approval letter you can begin searching. The agent should put a buyer on an automatic search that feeds listings to their email.

For more information contact Rebecca Crosby.
rebecca@browngrouprealty.com

What Every Buyer/Seller Should Know About Fuse Panels and Amps

As a real estate agent I am the coach or team leader protecting, advocating and educating my clients through the largest purchase they may ever make. Part of that duty includes gathering information and pointing my clients towards experts in varying fields. Whether it is an electrician, plumber, roofer, heating and cooling system expert, mortgage broker or attorney my responsibility is to find, build and work with the best team of professionals.

A question that arises frequently from clients and one that I had to ask for myself concerned the amount of amps in a circuit breaker and what does it mean for a homeowner. Southern RI is full of diverse homes. From center chimney homes built in the 1700’s, to postwar neighborhoods, and cul-de-sac development homes, Rhode Island has a wide array of structures.

Many pre and postwar houses have 100 amp breakers. What does this mean in reality for the homeowner? Firstly, there are 2 different “types” of panels, breakers and fuses. If the panel has fuses it may have to be replaced. Replacing the panel may cost approximately $1200 depending on if the wires to the home also need replacement.

Are 100 amps adequate for modern living? For those of us who run a television, computer wireless network, laptop, tower computer all while cooking dinner; 100 amps according to licensed electricians will be adequate. How the system is wired and how the circuits are laid out will impact functionality.

For example in many postwar homes the upstairs bedrooms are all on one circuit. The kitchen will have a circuit and the stove will be separate. If the circuit does become overloaded it will flip the breaker.

Many newly constructed homes are being built with 200 amp breakers. An option for older homes is a system upgrade to a 200 amp system.

Homeowners with 100 amp fused panels who are listing their homes should note that buyers may want to negotiate panel upgrades as a part of the purchase and sales agreement.

Please note that licensed electricians should be consulted concerning all electrical questions. This post is intended to give homeowners and future homeowners some idea of what a panel is and what living with 100 amps will entail.

Special thanks to Victor of V&G Electric (1-866-794-5455) for answering my questions and explaining electrical systems to me.  

*Please note I am not a licensed electrician.