LIFESTYLE
Real Estate Tool NESTER Helps Homebuyers Avoid Fatal Mistakes Before Purchasing
The financial risks of buying a home are more daunting now than ever before with sky high mortgage rates and experts warning of a recession that could hit in 2023.
But tech startup NESTER aims to ease buyers’ fears by using algorithms to determine the true cost of a property beyond its listing price by forecasting expected repairs and maintenance costs for the next 5, 10 and 15 years.
The easy-to-use tool is best compared to “Carfax for buying a home,” the company says, and ensures that homeowners don’t drown in debts and restorations after moving in.
A user answers a series of questions about the major systems within a home, like heating and air conditioning, appliances, the roof, and the windows, then NESTER’s proprietary algorithm pulls data and pictures to generate a complete “NESTER report.”
Buyers can also compare two homes side-by-side to allow for more visionary projections, and receive negotiation tips and key questions to ask realtors and surveyors along the way, so as to feel confident and protected throughout the buying process.
Using NESTER is simple and affordable — and can mitigate serious expenditure down the road. The $87 plan allows users to run up to eight reports.
The creation of NESTER was one born out of necessity. All it took was one conversation between NESTER founder Brendan Kennealey and a friend who had recently purchased a home for him to recognize the lack of transparency in the residential real estate market.
“Mortgage calculators are great, but they don’t tell the whole story when it comes to buying a home. NESTER gives buyers a customized, detailed report for each home in their search, so they’ll know total projected maintenance costs over a 15-year period, including when those repair projects are expected to happen, and how much to save each month to cover the costs,” said Kennealey, a Harvard Business School graduate.
“We think buyers should be able to see that amount added to the mortgage and other monthly costs to help them determine whether they can afford the home before making an offer.”
NESTER is available nationwide and caters to sellers too, who can receive customized selling tips and timelines of repairs free of charge.
“NESTER is a valuable resource for anyone buying or selling a house. My buyers want transparency and my sellers want to set their homes apart the moment they go on the market. NESTER is an innovative way to bring a wealth of knowledge into the process,” said Cathleen Wilder, leading agent for Long & Foster Real Estate in Delaware.
Prior to founding NESTER, Kennealey spent two decades running schools in Delaware, where he oversaw numerous construction, renovation and repair projects.
“Commercial buildings require a high level of transparency when it comes to capital expenses, but there is very little transparency in the residential real estate market,” the founder said.
“In schools, money was tight and we had to plan and budget for major maintenance and repairs. It struck me as crazy that we don’t do this for our own houses, especially when we are buying.”
According to Kennealey, maintenance can be “relatively predictable” and it’s time for homeowners to have that same “peace of mind.”
For more information go to https://nester.app
Buyers can also compare two homes side-by-side to allow for more visionary projections, and receive negotiation tips and key questions to ask realtors and surveyors along the way, so as to feel confident and protected throughout the buying process.
Using NESTER is simple and affordable — and can mitigate serious expenditure down the road. The $87 plan allows users to run up to eight reports.
The creation of NESTER was one born out of necessity. All it took was one conversation between NESTER founder Brendan Kennealey and a friend who had recently purchased a home for him to recognize the lack of transparency in the residential real estate market.
“Mortgage calculators are great, but they don’t tell the whole story when it comes to buying a home. NESTER gives buyers a customized, detailed report for each home in their search, so they’ll know total projected maintenance costs over a 15-year period, including when those repair projects are expected to happen, and how much to save each month to cover the costs,” said Kennealey, a Harvard Business School graduate.
“We think buyers should be able to see that amount added to the mortgage and other monthly costs to help them determine whether they can afford the home before making an offer.”
NESTER is available nationwide and caters to sellers too, who can receive customized selling tips and timelines of repairs free of charge.
“NESTER is a valuable resource for anyone buying or selling a house. My buyers want transparency and my sellers want to set their homes apart the moment they go on the market. NESTER is an innovative way to bring a wealth of knowledge into the process,” said Cathleen Wilder, leading agent for Long & Foster Real Estate in Delaware.
Prior to founding NESTER, Kennealey spent two decades running schools in Delaware, where he oversaw numerous construction, renovation and repair projects.
“Commercial buildings require a high level of transparency when it comes to capital expenses, but there is very little transparency in the residential real estate market,” the founder said.
“In schools, money was tight and we had to plan and budget for major maintenance and repairs. It struck me as crazy that we don’t do this for our own houses, especially when we are buying.”
According to Kennealey, maintenance can be “relatively predictable” and it’s time for homeowners to have that same “peace of mind.”
For more information go to https://nester.app
