What Is a Security Deposit?

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The experience of owning a home has a number of marked differences from the experience of renting a home, including the way finances work in each scenario. If you have ever rented an apartment, you may have paid a security deposit- but what exactly does that mean? Whether you are thinking of renting out your own home or deciding if you should look at new homes for sale in Orlando, FL, understanding this common rental formality can help you think through all the financial implications of your decisions.

Security Deposits 

In simple terms, a security deposit is a sum of money that a new resident pays to their landlord or property management company upon signing a lease and moving into a home. The payment is meant to…

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Central Florida Real Estate Market Recap of April 2022

April’s median home price was recorded at $370,000. This sets a record high for the third month in a row.

April 2022 Recap

State of the Market

  • April’s median home price was recorded at $370,000, an increase of 2.5% compared to $361,000 in March 2022; this sets a new record high for the third month in a row.
  • Interest rates increased by 17.6% from 4.2% in March 2022 to 4.9% in April 2022. This is a 66% increase compared to April 2021 when interest rates were at 3%.
  • Overall sales in April decreased by 7.3%, with a total of 3,800 sales compared to 4,100 sales in March 2022. This is a 7% decrease compared to April 2021 when overall sales were recorded at 4,081.

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How to Survey Your Own Property

There are many reasons you may need to conduct a property survey and determine where the exact boundaries of your property lie. If you are buying or selling a home, this can be important in listing the correct area, or it may be important for construction purposes to be sure you don’t cross the confines. In these scenarios, you should hire a professional surveyor. This is what most homes for sale in Lakeland, FL, will have done before posting a listing. However, to simply understand the legal lines of your home, you can perform a rough survey yourself with a bit of research and caution.

Deciding to Survey Your Land 

The main driver behind a self-survey of your property is to settle disputes surrounding property…

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Townhouse vs. House: How to Choose Your Next Home

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Few decisions you’ll make will be as impactful as choosing your home. Whether it is for a short time or your forever home, you are choosing the place you will live for some time as well as making a huge financial commitment. With this process comes a lot of decisions, including the type of home you want- a condo, a mobile home, a townhouse, or a single-family home. There is no “best” option, but one may work best for you and your family. As you browse homes for sale in Winter Haven, FL, you can use some of the information below to determine if houses or townhouses are right for you.

Key Differences

Owning a townhouse is similar in many ways to owning any other home- you will have a piece of…

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How to Move Across the Country

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With so much of the workforce becoming remote in recent years and priorities shifting, there has been a huge uptick in the number of people choosing to relocate. Whether you’ve decided to move to the outskirts of a city or to a completely rural area, the idea of picking up and moving to a whole new location can be daunting, and looking at homes for sale in Haines City is just the start of the process. We’ve compiled a complete guide to cross-country moves so that you can ensure the process is as smooth as possible.

Visit Your New Home

Before you determine the right place to move to, it’s important to visit the area and spend some time exploring. Not only can this help you confirm that you truly want to be in a…

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What Are the Different Types of Home Inspections?

One of the most important steps when buying a home is the inspection that helps you determine whether the house is worth the price. These inspections are designed to identify any structural issues with the house, allowing buyers to avoid issues and avoid expensive issues down the line. But as you look for homes for sale in Minneola, you may be surprised to discover that there are actually many types of home inspections that you can carry out. In addition to a general inspection, a savvy buyer may opt for one or multiple of these inspections to address specific concerns.

General Home Inspections

A home inspection is a traditional part of most due diligence in real estate, and each inspector…

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Central Florida Real Estate Market Recap of March 2022

March’s median home price was recorded at $361,000. This sets a record high for the second month in a row.

March 2022 Recap

State of the Market

  • March’s median home price was recorded at $361,000, an increase of 4.6% compared to $345,000 in February 2022. This sets a record high for the second month in a row.
  • Interest rates increased by 8.7% from 3.9% in February 2022 to 4.2% in March 2022.
  • Overall sales in March increased by 28.2%, with a total of 4,100 sales compared to 3,198 sales in February 2022.
  • Homes spent an average of 27 days on the market in March, down 10% from February 2022 when the average was 30.
  • Inventory increased in March by 7.1% from…

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What Does Homeowners’ Insurance Cover in 2022?

As a part of buying a home, you’ll need to consider what will happen if something breaks or is damaged in the home. These issues can be costly and stressful to deal with, which is why it’s important to have insurance in place. Homeowners' insurance is often required, but even when it’s not, it is a good idea to plan to purchase a policy. Before you begin looking at homes for sale in Groveland, FL, you can read this guide to understand what a homeowners’ insurance policy covers and what to think about when it comes to your own coverage.

Basics of Homeowners’ Insurance

A standard homeowners’ insurance policy is designed to offer protection if you need to repair or replace your home and its contents…

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Condo vs. Townhouse: What’s the Difference?

When it comes time to buy a home, there are a lot of decisions to make about what you might be interested in: size, location, price, and more. Some people will also narrow their search by the structure of the home and fees by deciding a condo or a townhouse is the right option for them. But many people confuse condos and townhouses, which are similar but not exactly the same. Read on for a comprehensive look at each option and how they differ so that you can determine which new homes in Davenport, FL are right for you.

What Is a Condo?

Condos, or condominiums, are a type of housing defined by the structure of ownership. Most condos are similar to apartment buildings, with very similar units set up…

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Is My House in a Flood Zone?

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There are a huge number of things you may consider when deciding where to purchase a home: How is the school district? Is it on a noisy road? But most people don't ask themselves about the potential for flooding, assuming that it isn't a huge concern. But in fact, many US homes are in official flood zones, which can pose risks down the line. The most high-risk flood zones are near bodies of water, so if you're looking at new construction in Davenport, FL, this is certainly something to consider. However, being in a flood zone doesn't mean your home is a bad purchase- you simply need to understand what protection is important to have in place.

Determining if a Home is in a Flood Zone

Many websites allow you to plug…

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