Real Estate Tips
Preparing to Sell!
Selling your home doesn′t just mean hiring a realtor to stick a sign out front. There are a lot of preparations you should make to ensure you get the best offer possible in the shortest time.
- Repair. Just because you’ve gotten used to the cracks in the walls and the rattles in the radiators doesn’t mean a buyer will too. If you have hardwood floors that need refinishing, be sure to get it done—hardwood is a huge selling point. Buyers like to snoop around, so be sure to fix any sticky doors or drawers as well. Finally, don’t forget to address any issues with the exterior—fences, shingles, sidewalks, etc. After all, without curb appeal, some buyers may never get to see the inside. Your buyers are going to do an inspection, and the inspector will be able to identify all the issues and suggest needed repairs. There’s no avoiding it. You will have to fix any problems, credit money back to the buyer, or drop your price to compensate. Your actual cost to fix an item will almost always be less than a buyer’s estimate after their inspection — but since you won’t necessarily have time to fix everything before closing, you risk losing the sale if you don’t agree to the estimate.
- Neutralize. You want buyers to see themselves in your home. If your living room has lime green shag, wood-paneled walls, and all your collectibles and personal photographs, this will be much harder for them to do. Try replacing any bold color choices in your floors and walls with something more neutral—grays,beiges, tans, and whites. Repainting and reflooring will make everything look fresh and new, and help prospective buyers imagine all the possibilities for their future home. Not a costly investment, think how nice it is to walk into a builder's model home use their cues as guidance.
- Stage. Once your house is clean and updated, it’s time to play dress up. Home stagers can add small details and décor touches that will bring out the possibilities in the various spaces in your home: lamps, mirrors, throw rugs and pillows, flowers, decorative soaps and towels, patio furniture. Home staging can be particularly useful if your home is especially old or if the exterior looks dated. Think of it as a little mascara and rouge—if it’s done right, you notice the beauty, not the makeup.
5 Tips When Buying a Home
Looking to buy a home? Here are five essential tips for making the process as smooth as possible.
- Get your finances in order. Start by getting a full picture of your credit. Obtain copies of your credit report. Free annual credit report will provide at no charge , is secure, and remember don't pay for the credit scores they won't be needed at this stage of the process. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house.
- Hire a professional. While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. Remeber that does apply to new construction and for sale by owners. Recruiting a buyers agent, who will have your interests at heart and can help you with strategies during the buying process. Remember a solid team approach will make the process easy and enjoyable find an agent that 'gets' you!
- Find a home to fit your budget. As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, hoa fees,energy costs, etc.
- Do your homework. Before making an offer, have your agent do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up insulting your seller by coming in far too low and lose the home of your dreams.
- Think long term. Location,Location, Location. Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future.