Melissa Kaspern's Blog
Selling a home can be quick and seamless, particularly for an individual who crafts a property selling blueprint. Now, let's take a look at three tips to help you create a successful plan to sell your house.
1. Analyze the Local Housing Market
A seller who understands the housing market in his or her city or town may be better equipped than other sellers to achieve the optimal results during the property selling journey. In fact, this seller can use various housing market data and insights to make informed decisions time and time again.
For a home seller, it is important to review the prices of recently sold houses in his or her city or town. This individual also should find out how long these residences were available before they sold. With this housing market data in hand, a home seller can determine whether a buyer's or seller's market is in place.
Furthermore, a home seller should look at the prices of comparable houses in his or her city or town. This housing market data will enable a house seller to see how his or her residence stacks up against the competition and prepare accordingly.
2. Learn About Your Home's Strengths and Weaknesses
Consider what separates your home from other houses in your area. This will allow you to explore ways to showcase your residence to the right groups of potential buyers.
Look at your house from the buyer's perspective and think about why a buyer may choose to purchase your residence. Then, you can craft a buyer-centric home selling blueprint designed to stir up lots of interest in your home.
It may be beneficial to conduct a home inspection too. By performing a home inspection, you can learn about any underlying house issues. You next can address these issues before you add your house to the real estate market.
3. Collaborate with a Real Estate Agent
A real estate agent is a must-hire for a home seller who is unsure about how to create a successful property selling blueprint, and for good reason. This housing market professional can offer expert insights into the real estate market and home selling journey. By doing so, a real estate agent can help you make the best-possible decisions throughout the property selling cycle.
In addition, a real estate agent will do whatever it takes to help you get the best price for your residence. He or she will promote your residence to the right groups of potential buyers, set up property showings and open house events and much more. And if a buyer submits an offer to purchase your home, a real estate agent will help you analyze this proposal and determine whether to accept, reject or counter it.
Ready to list your home? Take advantage of the aforementioned tips, and you can develop a home selling blueprint and boost the likelihood of enjoying a successful property selling experience.
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Are you in the market for your first home purchase? If so, congratulations! This is an amazingly exciting stage of life, and we know you must be excited.
Many first-time buyers run into issues that can turn their new home into a source of stress. Here are three common pitfalls you should watch out for as you purchase your first home.
Biting Off More Than You Can Chew
Far and away the most common pitfall that first-time home buyers run into is with setting realistic expectations. It’s a tough market for first-time buyers, and many are tempted to jump in deeper than they can manage. Just because you can get a mortgage without a full down payment doesn’t necessarily mean that you should, for example.
Your mortgage payment is going to be a reasonable percentage of your take-home pay, but don’t let it get too high. Many experts recommend 25 to 30%. And consider what your financial situation will look like if in a few years you add a child or two to the mix.
Everyone’s situation is different, but none of us have infinite money. Take the time to calculate what you can truly afford, and then stick to those figures. You may well tour your dream home as you look at available properties, but living there won’t be dreamy at all if it puts you in financial distress.
Not Considering Non-Mortgage Costs
If you’ve been renting all of your adult life, you need to be prepared for some non-mortgage costs that you probably haven’t had to pay yet.
First, understand that all repairs to your new home and property are your responsibility. If you have a $2,000 sewer repair crop up in the first 2 months of living there, do you have a way to pay for it? When you’re budgeting for your home purchase, make sure there’s enough left over to cover unexpected issues like these.
Second, if you’re bringing a full down payment to the table, there’s one more non-mortgage cost that could catch you by surprise: property tax. Make sure you know before you buy what property taxes are like on similar homes, and save 1/12th of that amount each month.
Making a Purchase Decision Too Quickly
A third pitfall for first-time homebuyers is rushing the purchase decision. Don’t get us wrong, we want you to buy a house! But your house is a long-lasting investment. Get to know various parts of your city, and take your time surveying what properties are available in your price tier.
Most first-time homebuyers won’t be in a position to sell and move up in house for at least five years. So don’t rush the purchase decision. Be sure before you commit.
Making the transition from being a renter to a home owner is a life changing experience -- one which brings both rewards and new responsibilities.
Although you'll no longer have a landlord (on speed dial) to handle things like yard maintenance, noisy neighbors, and appliance repairs, you'll enjoy the satisfaction of being in control of your own living space, your property, and your level of privacy. With few exceptions, if you choose to erect fences, plant privacy hedges, or build a screened-in back porch, that's your prerogative.
In the not-so-distant past, you may have felt as if your privacy was not as absolute as you might have preferred. Even though landlords and apartment managers are usually required by state law to give tenants 24 to 48 hours notice before entering the premises for an inspection or maintenance visit, some are not aware of their obligation. Unfortunately, there are also inconsiderate landlords who don't want to be bothered with things like advance notice requirements. That potential problem can be even more of an issue if the landlord happens to live downstairs or next door!
When you're a renter, landlords do generally have a right of entry, which, according to rental agreements, can be for repairs, alterations, improvements or "any reasonable purpose." If the end of your lease is approaching, your landlord may also appear at your door to show your rental unit to prospective tenants, real estate agents, appraisers, and others. Although many tenants do not encounter problems with landlords, the fact that they do have a right to access to your apartment, condo, or rented house is enough to make you feel uneasy!
The minute you become a homeowner, however, those uncomfortable privacy issues become a thing of the past. You no longer have to answer to a landlord, and -- unless there are restrictive zoning laws or Home Owner Association (HOA) rules -- you and your spouse are the ones who call the shots. While it's wise to be considerate of your neighbors and aware of local ordinances, you are free to own pets, throw parties, sleep on waterbeds, have long-term guests, and make changes to your house, your yard, and your property, as you see fit.
While pets are okay, farm animals may not be so acceptable! If your goal is to raise chickens, goats, or horses on your property, you might encounter some potential stumbling blocks. It does depend on a number of factors, such as whether you're in a rural area and if the land is agriculturally zoned. Your real estate agent, attorney, or town clerk would probably be the best sources of information when it comes to questions like that.
Generally speaking, however, property owners do have a lot of leeway on how they can use their property, as long as they observe local laws, be respectful of their neighbors, keep noise levels down to "a dull roar," and maintain a semblance of order in their front yard!