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Budget For These Home Maintenance Tasks When You Buy!

by The Rullo Team


There are some costs that homeowners know the budget for when buying their
Fox River Valley home. These include down payment, closing costs, and moving expenses. But, what about home maintenance? Just because the home inspection came up squeaky clean doesn’t mean that you don’t need to make any repairs or changes to the home.

 

In fact, the first year of ownership tends to be the most expensive, as you fill the home with new furniture and appliances, add personal touches, and complete those repairs that you find are needed. It can be hard to know exactly how much you need for home maintenance as you put together your budget for buying a new home.

 

Here are some immediate home maintenance costs that you should set aside money for:

 

  1. New Locks - You have no way of knowing who has a key to your new home. Be sure to install new locks on every exterior door.

  2. Fire Extinguisher - For the safety of you and your family, your home should have at least one fire extinguisher. If there isn’t one left at the property, purchase one for your kitchen.

  3. Chimney Sweep - It may have been years since the fireplace and chimney in your new home were properly cleaned. Before using it, be sure to hire a professional to come in and clean everything out of it.

  4. HVAC Maintenance - While the HVAC system might seem to be running properly, you can’t be certain when the last time it was maintained professionally. Have someone come inspect it and make any necessary repairs as soon as you move in to avoid pricey repairs in the future.

  5. Trimming Trees - The trees outside were not part of your home inspection and some could cause issues in the future, especially if they are older. Be sure to have the trees trims to avoid any potential damage to your home.

 

While these are the key maintenance areas to focus on upon moving in, you should not stop budgeting for home maintenance. Be sure to always keep some savings aside for issues that may arise with your home. A general rule of thumb is to budget for 1% of your home’s purchase cost every year for emergencies and repairs. Note, if your home is more than 10 years old, you might want to budget for more.


Follow us on Facebook and check out our Website for more helpful home maintenance and budgeting tips throughout the year.

 

How to build a GREAT Credit Score

by The Rullo Team

If you’re looking to purchase a home, having good credit gives you many more options.  For many people, however, building can be difficult if they don’t have past credit or if they’ve experienced a financial hardship that brought their credit score down.  If you find yourself in either category, there’s no need to get upset.  What you need to do is focus on the areas which help you build your credit score back to the top.

First, if you’ve never had any credit to your name, here’s what you need to do now:

  1. Apply for a secured credit card.  This is to help you establish credit, without putting down a deposit.  This won’t be used for the long-term, just to get you started.
  2. Apply for a credit builder loan- This is exactly what it sounds like.  A way to build your credit with a manageable loan amount.
  3. Do you have someone who could co-sign a loan?  If so, you can opt for this option to build credit, but normally at a lower interest rate.
  4. Make sure the rent you pay is being reported to the credit bureaus. RentalKharma and RentTrack are just a couple of platforms who will do this.

If your credit has taken a hit in recent months or years, working to rebuild it is critical.  Building good credit takes at least 6 months of an on-time payment history. Building good credit habits will help you get back on track.

  1. Make 100% of your payments on time.  This includes; rent, credit cards, utilities, school loans and medical bills.
  2. Keep your credit utilization low.  Meaning not more than 30% of the credit offered should be used.
  3. Keep your accounts open for as long as possible. Unless one of your unused accounts has an annual, all accounts should be kept open and active to count toward your length of credit, payment history and utilization.
  4. Make sure not to open too many accounts as this will initially lower your credit score and shorten the average time open of all accounts.
  5. Check your credit reports frequently for errors and your credit score on a monthly basis to see your progress.  Websites like www.creditkarma.com and www.nerdwallet.com, offer free credit score checking without causing a ‘hard hit’ to your credit.

For more helpful information for home buying, check out website and facebook page regularly.

Which Schools Ranked at the Top for St. Charles IL?

by The Rullo Team

The new school year is right around the corner! Are you searching for a home in the neighborhoods of the top St. Charles Illinois schools?  We're here to help!

According to www.niche.com, St. Charles IL is a top place to live and mainly because it has so many highly rated schools.  The following schools have received an A rating from the nationally known niche.com:

Corron Elementary School  Corron Elementary is located in the Thornwood Subdivision and is one of twelve elementary schools in the St. Charles School District serving grades K-5.  Both the teachers and academics at Corron scored an A rating from niche.com   Search all homes for sale in the Corron Elementary School neighborhood.


Bell-Graham Elementary School  With a school motto of " to foster a reflective and joyful learning community where students respect diversity and use their hearts and minds to positively impact the world and set the course for their lifelong journeys", Bell-Graham Elementary strives to provide the best experience for their students and parents.  Serving K-5 grades, this top-rated school is located in the Fox Mill neighborhood.  Search all homes for sale in the Bell-Graham Elementary School neighborhood.


Wredling Middle School  Located at 1200 Dunham Rd, this top-rated middle school opened its doors in 1995 with the following elementary schools feeding into it:  Anderson, Fox Ridge, Munhall, Lincoln, and Norton Creek.  Serving grades 6-8, Wredling Middle School maximizes the learning opportunities for its children.  Search all homes for sale in the Wredling Middle School neighborhood.


St. Charles East High School  Consistently ranked at the top of the high schools in St. Charles, this school is dedicated to excellence and student achievement.  Serving grades 9-12, St. Charles East High School is located at 201 South 7th St.  Search all homes for sale in St. Charles East High School 

Learn more about the top-rated schools in Geneva and Batavia in next weeks blog.  Have questions about the local schools or homes in the area?  Contact The Rullo Team.

You can also learn much more community information by subscribing to our Facebook page. Tour homes for sale on our Youtube channel.

What Fits in Your 1,500 or 2,500 Square Foot Home?

by The Rullo Team

Square footage is an incredibly important factor when house hunting. You want to ensure that your new home will comfortably accommodate you and your family now and into the future….along with have space for all of your belongings! Houses that are staged are beneficial in order to visualize how you can utilize the space and what can and cannot fit when you move in. Not all houses on the market are staged for showings though so how can you know what fits in a 1,500 square foot or 2,500 square foot home? Real estate website Trulia got creative and discovered what unique items they could fill in these two sized homes.


What fits in a 1,500 square foot home?



This comfortably sized home is perfect for first time homeowners. Although the prices vary for such homes across the country, they tend to be an affordable option as a starter home. There is plenty of space for a couple moving up from a rental property to fit their belongings within the 1,500 square feet. And, there are perks for living in a smaller home…….less area to keep clean, lower utility bills, and extra money to spend on updates within the home itself!


What fits in a 2,500 square foot home?


For many American families, 2,500 square feet is the perfect size home. In fact, this was the median square footage for newly constructed single-family homes in 2015, according to the U.S. Census Bureau. These new homes mostly have 4+ bedrooms along with 3 or more bathrooms, allowing for plenty of space for a family.



If you are interested in Buying or Selling in the Fox River Valley, give The Rullo Team a call today or visit our website at http://www.therulloteam.com/.


Resource: Trulia

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