Posted On: August 5th, 2020 2:29AM
When you’re getting ready to list your home, it’s of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top four recommended repairs to make before selling your home.
Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.
Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing them. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!
Refresh the landscaping.
Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges and trees, install outdoor décor pieces and fill in mulch and gravel.
Fix your fixtures.
Leaky faucet? Rusted drains? Loose drawer handle? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment.
Posted On: July 13th, 2020 4:07PM
Posted On: May 6th, 2020 6:30PM
You’ve found your dream home and now it’s time to cross all your T's and dot all your I's before it’s all your own. And one of the first items on your closing checklist the home appraisal. So, what exactly is that?
The home appraisal is essentially a value assessment of the home and property. It is conducted by a certified third party and is used to determine whether the home is priced appropriately.
During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior of the home. He or she factors in a variety of things, including the home’s floor plan functionality, condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several similar homes that were sold within the last six months in the area.
The final report must include a street map showing the property and the ones’ compared, photographs of the interior and exterior, an explanation on how the square footage was calculated, market sales data, public land records, and more.
After it is complete, the lender uses the information found to ensure that the property is worth the amount they are investing. This is a safe-guard for the lender as the home acts as collateral for the mortgage. If the buyer defaults on the mortgage and goes into foreclosure, the lender generally sells the home to recover the money borrowed.
Posted On: January 26th, 2020 7:17PM
Hanging out with your family or hosting friends on your old, dingy deck is not very appealing. Lucky for you, refreshing it doesn’t have to be difficult or expensive. Try your hand at the makeover ideas below!
Restore your decking. Depending on the shape it’s in, sometimes all your deck needs is a little love. If it’s still fairly new, your deck might just need a deep cleaning and a new coat of sealant. There is a multitude of deck finishing and cleaning solutions on the market to choose from to achieve this. However, if it's more worn down, the rejuvenation process may be a bit longer, including searching for larger repairs, tightening any hardware, giving it a good cleaning, applying a stain, sealant, and paint, and more.
Add lighting. Ambient lighting can completely transform your outside space into a relaxing, cozy oasis. Consider adding solar lights that don’t require a plugin or battery replacement. The lights turn on automatically when the sun sets, making your deck come alive. You can also consider paper lanterns, rope lights, mason jar lamps, or small twinkle lights, depending on the style and mood you’d like to set.
Build a privacy screen. Privacy screens come in all styles, shapes, and sizes. Consider purchasing and installing bamboo fencing or lattice panels for a quick and easy solution. Or, if you are feeling a little more adventurous, you can build a wooden frame and grow climbing plants or vines or stretch outdoor fabric in between. Whichever route you end up choosing, make sure you get the most out of your efforts by evaluating all lines sight before building.
Posted On: January 14th, 2020 8:17PM
You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.
But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.
The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will eliminate some homes from your search.
The national average for home appreciation is about five percent. The appreciation is independent from your home payment, so whether you put down 20 percent or three percent, the increase in equity is the same. If you’re looking at your home as an investment, putting down a smaller amount can lead to a higher return on investment, while also leaving more of your savings free for home repairs, upgrades, or other investment opportunities.
THE HAPPY MEDIUM
Of course, your home payment options aren’t binary. Most borrowers can find some common ground between the security of a traditional 20 percent and an investment-focused, small down payment. Your trusted real estate professional can provide some answers as you explore your financing options.