The chief reasons homeowners undergo a remodel are because they desire better and newer amenities or they feel compelled to repair or replace in their homes. Here are some of the other reasons homeowners take on a remodel.
It can be a hassle and a headache to think about all the technicalities you need to know in order to properly buy a house, but here are 5 key points to make it easier for you to organize what you need to think about while you’re exploring different properties.
Use a trusted realtor.
Many people believe the common myth that having a realtor is a pricey investment. However, the seller is the one that pays the realtor’s commission, the realtor is only there to assist you in buying the right house for you. There is no extra charge for guidance in the home buying world. The realtor will always put your interests first to ensure that you are happy in whatever home you choose.
Remember the contract. Contracts are there to make sure both you and the seller are satisfied with the purchase. There are many facets of a contract, so make sure to look through it carefully and don’t be afraid to propose negotiations to put your mind at ease. This is where a realtor can help you look at different sides of the spectrum when agreeing to purchase a house.
Consider long-term plans.
Buy a house that fits your needs but also make sure to think about the future when looking at homes. Are you planning on having kids? Dogs? Do you want to eventually be able to have family barbeques and lounge at the pool? Do you even really need a backyard? These are all things to think about when you are purchasing a home. It is meant to, hopefully, last you a long time, so make that purchase count.
Pay attention to the changes you want to make.
When looking at houses, it’s normal to reimagine certain rooms and already envision changes you want to make around the house. However, pay attention to what changes you are planning on making. Painting walls and adding wallpaper is usually inexpensive and easy to do, but remodeling a kitchen or bathroom can take time and money. Be prepared for that investment if those are your plans.
Buy the house you know you can afford.
Again, this is where you have to step aside and look at the bigger picture. Think future. There are always sudden fluctuations in the economy and whatever business you’re in. Some lenders say that ⅓ of your gross income is a safe budget but others stand behind 28% for other extra housing-related costs. Maintenance can also take a big toll out of your pocket. Things like swimming pools, heating and cooling systems, fancy lights, can all add up. Talk to your mortgage broker to help you find a house that you know you can pay no matter the circumstance.
By Kimberly Dawn Neumann | May 16, 2018 Originally Appeared on Realtor.com
Want to know the secret to drumming up buyers for your home before it officially hits the market? While most home sellers don their home-selling hats after their real estate listing goes live on the multiple listing service, if you’re eager to generate some buzz sooner, you certainly can—and should.
“There’s no reason to wait until the day your home hits the market to start selling,” says Regina Petruzzi Neumann, a real estate agent in Leesburg, VA. In fact, she recently sold her own townhouse before it hit the MLS, and adds that regular home sellers can easily follow in her footsteps.
Granted, the MLS—which distributes your listing far and wide on sites such as realtor.com®—is an easy way to garner tons of exposure for your sale. But there’s plenty you can do on your own (and with a real estate agent’s help) earlier that’ll help you hit the ground running, boosting the odds that you’ll get an offer before your listing has gone live or very soon after. (Case in point: Petruzzi Neumann also sold her neighbor’s home on the very first day it was officially listed using the same early-bird tactics that worked for her own home.)
Want to know how to start? Here’s how to get those sales gears turning, and why it’ll pay to do so sooner rather than later.
Try a ‘coming soon’ status
One way to drum up some excitement before your home hits the market? A “coming soon” announcement. Basically, this description can be placed on listings that are up on the MLS, but not yet officially for sale. You can also plant a “coming soon!” home sale sign on your front lawn—which is what Petruzzi Neumann did for her own home.
The result: “Many buyers who were shopping other homes in the neighborhood saw the ‘coming soon’ sign, and came up and knocked on our door,” she says.
Oddly, a “coming soon” sign may have even more impact than a “for sale” sign because, let’s face it, everyone loves to think they’re getting special early access to something before everyone and their brother know what’s up.
“Marketing a listing that is not yet available often makes it more attractive to potential buyers,” says Andrew Smith, a real estate agent for the Lone Star Home Group with Keller Williams Realty and co-author with his real estate agent wife Lisa of “Swipe Right: Matchmaking 101: Finding the Best Mate for Your Home.”
While MLS rules vary from place to place, just know that they typically mandate that a “coming soon” status and sign can’t be used for more than 21 days. But that’s plenty of time to generate some buzz.
Partner with a loan officer
Another ally to get the word out early? Local loan officers can be really helpful on several levels. For one, smart home buyers don’t hit open houses until after they’ve sat down with a lender to get pre-approved for a loan. Pre-approval, after all, lets home buyers know what they can afford—and proves to sellers that they’re qualified to close the deal.
It’s never been easier to learn more about your credit score and history. As a result, people’s scores are higher than ever. Age is an advantage with older Americans having higher credit scores than younger ones. VantageScore, which was created by the credit reporting agencies Experian, TransUnion and Equifax, details this trend. The VantageScore ranges from 300 to 850, with 850 signifying exceptional credit.
Average VantageScore by generation
730 – Silent Generation (born between 1925 and 1946)
700 – Baby Boomers (born between 1947 and 1966)
655 – Generation X (born between 1967 and 1981)
634 – Millennials (born between 1982 and 1995)
631 – Generation Z (born 1996 and later)
Moving into a new place is a joyous moment filled with new possibilities. The sense of accomplishment of owning your own home cannot be beaten. Unfortunately, moving in is not filled with the same excitement. Before you settle into your new home here are chores you should tackle.
The first thing on your list after you get those long-awaited keys is to swap them out with the locks. Let’s be real, those keys in your hand have been around previous owners, realtors, maintenance workers, and who knows who else. Give yourself some peace of mind and make your home yours by getting new locks installed.
It’s nice to assume that the previous owners left you with a spotless house, but in reality, they didn’t. You can hire a service to clean or do it yourself, but a deep clean is highly recommended. Get buckets, brooms, mops, vacuum, and all surface cleaners to help you wash down cabinets, pipes, counters, and all floors. Don’t forget rubber gloves.
The painting might take up a bit of your time or house time if you’re hiring a service, but having fresh paint on all the walls and ceilings will make your home feel new. The most important chore when painting is to fill in all the cracks, holes, and other defects to have solid surfaces all throughout the house.
Service all mechanical equipment
Before you officially move into your new home, you should have a professional take a look at your heating and cooling systems while also having them cleaned and serviced. This is a great safety step. While you’re at it, get a service contract to have routine checkups so you don’t end up paying more if the system stops working.
Windows are one of the most overlooked areas of any home. When moving into your home, especially an older home, it’s important to check that all windows can be properly sealed shut. Modernize any old windows to prevent cold or warm air from creeping into your home.