Chic vs. Geek: Buying Brand New

When you purchase a newly constructed single family home, there are a few important details that you need to navigate, including these contract specifications…

CHIC (Pearl)

Everything from the fit and finish of cabinets and mirrors to flooring, interior and exterior walls, countertops, paint finishes and trim can fall under a seller warranty against defective materials and/or workmanship, provided the seller receives notice within one year of the date of occupancy. The buyer can always waive this coverage for anything they’ve already had inspected.

GEEK (Kevin)

To make sure the seller follows through, there’s also a seller completion obligation, under which the seller agrees to provide all labor and materials to make necessary improvements and file all the applicable paperwork with local authorities. But supply shortages, labor disputes, buyer inaction, and other unforeseeable circumstances can cause delays.

Chic vs. Geek: Paying you back in any market

From building equity to built-in savings, there are real estate principles and benefits to help your property pay you back, even in a down market.

CHIC (PEARL)

Dual Purpose Investment

A home is both a current need and an investment in your future. You can find something that fits your family right now, but how will it suit you ten years down the road?

Valuable Savings

Mortgage payments can deliver equity, improve your credit score, and also serve as a savings account you can leverage now or tap later.

GEEK (KEVIN)

Tax Considerations

Like other life changes, homeownership comes with tax deductions, credits, and other perks. Ask your accountant to get you started with a mortgage payment deduction.

Protection from Inflation

Rents rise with inflation, and sometimes to pay for building upgrades, but payments on a 30-year fixed mortgage remain the same for, well, 30 years!

Want to learn more about the benefits of home ownership?

Chic vs. Geek: Going Net Zero @ Home

“Net zero” is what happens when the renewable energy you use to power your home matches the need, meaning you have no net impact on the environment. With new heating technology and lower-cost renewable energy systems, any home can get to net zero. Need help getting started? That’s why we’re here!

CHIC (PEARL)

Like any home improvements, there are upfront costs to going net zero, but an investment today could help lock in your energy prices for the next 25+ years. Roof-mounted solar is currently the most affordable way to generate your own energy. With a good financing plan, a photovoltaic (PV) system can deliver electricity at 60% to 70% of what you’re paying PG&E. And because of widespread adoption, solar has never been cheaper! You can also upgrade to efficient electric heating and cooling systems like heat pumps and floor coils.

GEEK (KEVIN)

When it comes to energy efficiency, there’s nothing like some good, old fashioned repairs and upgrades. First, check the air sealing on your home and shore it up where you can. This will give you the biggest bang for your buck year round. Combine that with better insulation, and you can save more money downsizing to a smaller heating/cooling system. And don’t forget to replace old, drafty windows and doors with high-performance, triple-pane brands or storm windows. This will reduce heat loss and provide plenty of natural light.

Chic vs. Geek: How do you flex?

Last week’s excessive heat wave caused flex alerts that asked Californians to conserve energy during peak hours from 4-9pm in order to prevent blackouts. What are some ways you cut back to help out?

CHIC (PEARL)

I’m not ashamed to admit that I’m in love with my air conditioning. But with rising energy rates and calls to conserve, I’ve also had to admit that it’s a luxury we can live without for a few hours a day. So we started pre-cooling our house before 4pm, preparing for the hottest time of day. At 9pm, we checked the air outside and either opened up all the windows or cranked that lovely AC. It may have been rough, but we’re lucky to have these options in the first place.

GEEK (KEVIN)

Anybody who knows me knows I love food, and dinner is a very important time of my day. I’m usually in the kitchen during flex hours, cooking with multiple burners, heating up the oven, and going in and out of the fridge and freezer. The flex alerts forced me to change up our routine, eating dinner later in the evening or DoorDashing from one of our favorite restaurants. It’s a great way to support local businesses while you’re flexing your power.

Chic vs. Geek: Homeowner’s Title Insurance

When you buy a home, Santa Clara County and most jurisdictions require you to purchase an insurance policy on your title, aka homeowner’s title insurance. While it may seem like an additional burden, you never know when you’re going to need it, and it’s important to know what it covers — and what it doesn’t!

CHIC (PEARL)

Even after your real estate company conducts a title search and explores all the publicly available details about a property, there is still a risk that new problems will arise. Title insurance can provide you with security against things like ownership claims from other parties including undisclosed heirs, flawed public records, false signatures on documents, including fraud and forgery, outstanding liens and lawsuits, judgments or encumbrances, and unrecorded easements or other restrictive covenants that reduce a property’s value.

GEEK (KEVIN)

As you can see from Pearl’s take, title insurance covers a lot, but it isn’t cheap, so it’s good to know where it comes up short. You won’t get any protection against infestations from termites and other pests, mold and mildew, fire or weather damage, underground fuel tanks (this comes up more often than you’d think), or any issues not caused by the previous homeowners. Depending on your location and the insurer, fire and storm coverage may be included in your homeowner’s insurance policy or offered as an add-on.