Mar 13, 2015 | Real Estate Tips
When preparing to list your home for sale, you may be wondering who will buy your home. While this initial thought may be one spurred by curiosity, the fact is that understanding who your target audience is and what they are looking for in a home may help you to position your home to sell more quickly and for a better price. If you have determined that there are many younger buyers moving into your area, you may want to make a few changes that will add appeal to this target audience. While you could spend tens of thousands of dollars or more completing a home makeover, there are a few budget-minded ideas that you may consider.
Add Color to Molding and Trim
One of the hottest trends in home décor and interior design is to get rid of the standard white trim and molding and to add color to these areas. Neutral hues like grays and browns have universal appeal, or you can give your space a more contemporary look by adding black to these areas. Generally, you will want a more neutral color like a creamy beige on the walls when executing a look with colored trim.
Update Light Fixtures
If you have a little more money to spend, you may consider updating your light fixtures. There are rather affordable yet stylish fixtures available in a wide range of finishes. When your rooms are empty or staged to perfection, the light fixtures can easily set the tone of the room and may be focal points. Outdated fixtures may have limited appeal to young buyers who are looking for a home that is modern and current with today’s trends.
Redefine Outdated Spaces
In some older homes, some of the rooms may have originally been built with outdated uses in mind. Today’s younger buyers may be looking for a home with an exercise room, a media room or a study rather than a formal living or dining area. With this in mind, you may consider how you can stage your home to show that it can be used for modern purposes. This may simply mean moving your formal dining room set into storage, adding French doors and investing in an affordable desk and side chairs for staging purposes. This is just one of several options available that may give your home broader appeal to a younger audience shopping for a modern floor plan.
If you are thinking about listing your home for sale and you believe that you will likely attract younger buyers to your home, you can consider implementing some of these ideas in your space. Your real estate agent may be able to offer additional suggestions that are customized for your specific home.
Mar 12, 2015 | Real Estate Tips
However, you also need to consider the practicality of leaving behind your home and belongings for an extended period of time. A great idea is to take on a long-term tenant for your home, and there are a number of benefits that you can enjoy by doing this.
Generate Income From Your Home
When you lease your home to a long-term tenant, you will be able to generate a monthly income from the property. This can be used to pay for your mortgage, property insurance and other related expenses while you are gone. Essentially, it can make it more affordable for you to take your trip for an extended period of time.
Decrease Your Maintenance Expenses
When you are away from your home, you may still have maintenance and upkeep chores to do. When you are home, for example, you may easily be able to water your lawn and mow the grass on your own. You may deal with a leaky pipe before it becomes problematic and causes considerable damage to the home. When you are gone, you may need to pay for a lawn service, and you have nobody to watch over the interior of the home. However, when you lease your home to a tenant, the tenant may be responsible for caring for the yard. In addition, he or she can alert you to issues that develop inside the home.
Someone to Keep an Eye on Your Property
When a home appears to be vacant, it is more likely to be vandalized or burglarized. A tenant will give your home an occupied look and will decrease the risk of criminal activity. In addition, the tenant may change your air filters, replace batteries in the smoke detectors and take other steps to keep the home in great condition for you while you are gone. You can specify your requirements in the lease.
If you are planning an extended vacation and you are looking for a convenient way to ensure that your home is taken care of while you are gone, consider the benefits of taking on a long term tenant. You can speak with a real estate agent to learn more about the market rental rate for your home.
Mar 11, 2015 | Real Estate Tips
There are few things that can be more stressful than buying or selling a home. When you are buying and selling a home at the same time, your stress level may understandably skyrocket through the roof. There may be financial aspects of both transactions that may be cause you stress, and you may be dealing with logistical issues or simply feel stressed by the stacks of documents piling up for both transactions. While this will inevitably be a challenging time in your life, you can more easily navigate through the transactions with success by following a few tips.
Consider the Timing of Both Transactions
One of the best things you can do when buying and selling a home at the same time is to plan ahead and consider the timing of both transactions. You may get lucky enough to get an offer on your home from a buyer who wants to close just a few days before you close on your new home. However, it is more likely that these two transactions may be finalized weeks or longer apart from each other. You may need to plan on finding an interim home or paying double mortgages for a period of time. You may consider which of these two options is more preferable to you based on your work situation, your family’s needs and your budget.
Prepare a Budget Ahead of Time and Update It Periodically
Financial stress can mount during this period of time. You will need to make a good faith deposit and pay for third party reports and mortgage application fees for your new home purchase. You may also need to pay money to make repairs and to stage your current home before you list it. It is common to rent a storage unit and to pay for boxes and moving supplies as well.
In addition, a buyer for your current home may request that you make repairs to your home before closing. It is important that you prepare a budget so that you can pay for all of these expenses as they arise, and you should consider leaving yourself ample funds for unexpected expenses. If you run into a cash crunch, consider completing the sale of your current home entirely before going under contract with your new home purchase.
Use the Same Real Estate Agent for Both Transactions
The knowledge and support of a real estate agent can be beneficial to you for both transactions, and you may consider using the services of the same agent for both. Dealing with one person who is familiar with your goals and needs can be truly beneficial to you throughout the entire process, and he or she may offer insight about the best steps to take to make the transition from one home to the other smoother for your family.
While buying and selling real estate can be stressful, you do not have to make the process more difficult than it needs to be. You can set up a time to meet with a real estate agent today to begin discussing your plans and to take the initial step.
Feb 11, 2015 | Real Estate Tips
Buying or selling real estate is a significant milestone in life. Frequently, it means that a new phase is starting, whether it’s a new job, a new relationship, or moving to a new area. However, when the most basic steps are missed, this transition can be fraught with stress and disaster. To ensure a smooth deal, home buyers and sellers alike should be sure to mind the following tips.
#1: Always Be Honest
Honesty and clear communication need to be a two-way street. Home buyers and sellers expect their real estate agent to be honest with them, and likewise it is always necessary for a home buyer or seller to be honest with their real estate agent.
Hiding details or covering up potential problems will only cause more issues when everything comes to light. When important information is withheld, it’s possible for delays to occur, costs to rise, or even for the deal to be killed.
It’s much better to disclose all necessary information upfront so the situation can be handled appropriately. An expert real estate agent will be able to guide home buyers or sellers through the problems and to a workable solution.
#2: Hire A Professional Real Estate Agent
Buying and selling real estate is not an easy process, so it’s never a good idea to try to proceed without a professional who can be trusted.
Far too often, people let friends or family members represent them in real estate transactions. In these cases, it’s likely for feelings to be hurt, relationships to be damaged, and trust to be compromised.
Rather, it’s recommended for home buyers or sellers to use a real estate agent they do not have a close personal relationship with. That way, they can stand confident that their agent is looking out for their own best interests, and nothing else.
#3: Understand The Market
Far too often, home buyers or sellers fail to recognize their area. If they are the home seller, this means understanding what kind of buyers are looking in their market. If they are the home buyer, this means understanding what kind of neighborhood they would enjoy living in.
Failing to identify this crucial information will waste time for the seller and buyer alike. However, this is where a real estate agent comes in: he or she will know the market inside out and be able to offer valuable counsel.
Home buyers and sellers should call their agent if at any time they have questions; this professional is the key to a smooth real estate transaction.
Jan 9, 2015 | Real Estate Tips
Are you thinking about selling a home that you have rented out for some additional revenue? If so, you’re likely trying to discern how to best inform the current tenants and conduct the sales process in a way that works well for all of the parties involved. In today’s blog post we’ll explore how to sell your home while you’re renting it out to tenants and share three tips that can make the process a bit easier.
#1: Review Local Laws and Your Tenancy Agreement
First, you’ll want to break out your tenancy agreement and download any state, provincial or municipal laws that apply to landlord-tenant relations. Selling a home with renters living in it can result in a number of sticky situations. You’ll want to ensure that you conduct yourself in accordance with the rule of law as you may end up in court if the process goes sour.
#2: Communication is a Vital Part of the Process
Next, you’ll need to ensure that you’re communicating with your tenants every step of the way. Meet with them to let them know that you would like to place the home on the market, and explain how the sales process is going to work. Allow your tenants to ask questions and to state their case as they may be willing to buy the home from you if they can afford it, or if the price is right. Be polite but firm; you don’t want to encourage any hostility but this is your property and ultimately, your decision.
Don’t forget to fully inform your tenants as to how home showings will work, as they’ll likely be concerned as to who is being provided with keys to their home.
#3: Incentives Can Sway an Unruly Tenant
Finally, if you’re faced with some unruly tenants that are making the sales process challenging you may find that financial incentives make them back off a bit. You’ll need their cooperation in keeping the home relatively clean and tidy, so you may want to consider offering some gift certificates or paying a portion of the rent in exchange for their help. If you’re hosting an open house over a weekend, offer to put their family up in a nice hotel somewhere in town where they can enjoy a weekend together.
While selling a home with tenants living inside is rarely easy or fun, it’s certainly doable. When you’re ready to learn more about the home selling process, contact your local real estate agent as they can share their expertise and guidance to ensure you get the most from your sale.
Dec 23, 2014 | Real Estate Tips
Moving is not exactly enjoyable at any time of the year, but it can be especially stressful in the winter. Moving all of your items when it is snowing and blowing outside makes things a lot tougher. However, if you prepare accordingly and have the right attitude, you’ll find that your move will go much smoother. Here are five relocation tips that will help ease the stress of a move.
Do not Pack Your Winter Supplies
When you are moving in the wintertime, you should keep your winter supplies, such as a snow shovel and salt, in the car with you. For example, let’s say you get to your new place and there is a lot of snow on the ground. If you have your shovel nearby, you can dig out a path from the driveway to the front door. If you see ice on the ground, you can sprinkle salt on it to prevent falling and hurting yourself.
Pay Attention to the Weather
It is a good idea to watch the weather reports the day of your move. If they are predicting a big snowstorm or other dangerous conditions, it may just be best to reschedule your move to a different day.
Hire Movers
Hiring movers will cost some extra money, but it will be well worth it. If you hire professional movers to move your belongings, you will not have to worry about carrying heavy furniture in the snow and ice. They have the experience to get your items moved in a timely manner.
Get Your Car Serviced
If you are moving a long distance, you should get your car serviced beforehand. Take it to a trusted mechanic and have him check your tires and brakes. If you let a professional look at your car before your move, you will be less likely to break down on the road.
Protect Your Entryways
When you move in the winter, you can bring in a lot of snow and salt from the outside, damaging your floors. That is why you should place cardboard or plastic on your flooring before you start the moving process. It will prevent snow, ice and other particles from ruining your floors.
Moving during the winter is not exactly pleasant, but it does not have to be impossible. If you follow these helpful tips, you will have a much easier move. If you have any more questions, you should contact our trusted real estate professional today.
