Bonnie and Melinda's Blog
If you plan to pursue a home in the near future, there is no need to wait to get a mortgage. Because if you enter the housing market with a mortgage in hand, you'll know exactly how much you can spend to acquire your dream house. As a result, you'll be able to map out your home search based on your property buying budget.
There are many things you can do to ensure you can get a great mortgage prior to launching a house search. These include:
1. Learn About Your Mortgage Options
Banks and credit unions offers a wide range of mortgage options. If you meet with these financial institutions, you can learn about all of the mortgage options at your disposal.
As you assess your mortgage options, it is crucial to weigh the pros and cons of each option. That way, you can make an informed decision about a mortgage and decide which option will serve you well in the years to come.
2. Ask Mortgage Questions
If you are uncertain about what differentiates one mortgage option from another, it is important to remember you are not alone. Fortunately, you can ask mortgage questions to home financing professionals to determine which mortgage option is right for you.
Banks and credit unions employ friendly, knowledgeable home financing specialists who are ready to respond to your mortgage queries. Thus, if you discuss your mortgage concerns with home financing specialists, you can get the guidance you need to choose the best mortgage based on your individual needs.
3. Improve Your Credit Score
Your credit score may have far-flung effects on your ability to get pre-approved for a mortgage. However, if you analyze your credit score, you can determine if you need to take steps to improve this score before you apply for a mortgage.
You are entitled to a free copy of your credit report annually from each of the three credit reporting agencies (Equifax, Experian and TransUnion). Take advantage of this complimentary perk, and you can analyze your credit score at your convenience.
If you have outstanding debt on your credit report, you may want to pay this off as soon as possible. Remember, the sooner you pay off outstanding debt, the sooner you can bolster your credit score.
In addition, if you identify any errors on your credit report, notify the agency that provided the report immediately. This will allow you to correct any credit report mistakes before you submit a mortgage application.
As you get set to apply for a mortgage and conduct a home search, you may want to hire a real estate agent too. A real estate agent can provide expert guidance as you pursue your dream residence. He or she will help you find a house that matches your budget, attend home showings and much more.
Ready to launch a comprehensive home search? Get pre-approved for a mortgage, and you can take the first step to establish a budget for the homebuying journey.
With a home selling roadmap in place, you should have no trouble getting the best price for your house. Now, you just need to figure out what to include in this roadmap.
Lucky for you, we're here to help you craft a home selling roadmap that will ensure you can quickly and effortlessly sell your house.
Let's take a look at three must-have items to consider as you create your home selling roadmap.
1. Home Price
Ultimately, it is your duty as a home seller to establish a competitive initial home asking price. Doing so, however, may prove to be exceedingly difficult, particularly for those who are selling a house for the first time.
The real estate market fluctuates constantly and can affect home values in cities and towns nationwide. Meanwhile, the age and condition of your house likely will impact your residence's value as well.
To determine a competitive price for your house, it generally helps to conduct a home appraisal. This assessment will enable you to receive a property valuation from an expert home appraiser.
Also, you may want to complete a home inspection. Because if you perform a home inspection, you can identify any underlying home problems and correct these issues before you list your house.
2. The Buyer's Perspective
How will buyers perceive your house when they see it for the first time? It is essential to consider the buyer's perspective as you create your home selling roadmap, and doing so may enable you to identify home improvement opportunities.
For example, if your house's front lawn is covered in tall grass and weeds, you may want to perform lots of lawn care and maintenance. Mowing the front lawn sometimes can be tough, but performing this task will enable you to instantly enhance your house's curb appeal. Thus, when homebuyers see your home's pristine front lawn, they may be more likely than ever before to set up a showing.
3. How You'll Promote Your House
Showcasing your house to prospective buyers can be challenging. Luckily, real estate agents are available to help you promote your house to the right groups of buyers.
Typically, a real estate agent will learn about your home selling goals. This housing market professional then will help you put together a home selling roadmap, one that ensures you can stir up plenty of interest in your home as soon as it becomes available.
A real estate agent also is happy to provide assistance as you proceed along the home selling journey. He or she will set up home showings and open house events, help you review home offers and negotiate with a buyer's agent on your behalf. And if you ever have home selling concerns, a real estate agent will listen to them and respond accordingly.
Ready to add your residence to the housing market? Consider the aforementioned items as you develop your home selling roadmap, and you can boost the likelihood of a successful home selling experience.
Although buying a home should be a fast, seamless process, negotiations with a home seller sometimes can slow down the homebuying journey.
Let's face it – no one wants to deal with long, arduous negotiations, particularly when they are close to acquiring their dream residence. However, homebuyers who prepare for the worst may be better equipped than others to avoid a complicated homebuying negotiation.
What does it take to prepare for a difficult homebuying negotiation? Here are three tips to help you do just that.
1. Understand the Housing Market
If you submit a competitive offer on a residence from the get-go, you may be able to avoid a difficult homebuying negotiation altogether.
Ultimately, a homebuyer who allocates the necessary time and resources to learn about the real estate market will understand how one residence stacks up against another. Then, he or she can submit a home offer that matches or exceeds a home seller's expectations, thereby reducing the risk of an extensive homebuying negotiation.
2. Analyze Your Homebuying Goals
A homebuyer who analyzes his or her homebuying goals can map out his or her property buying journey. That way, this homebuyer can assess homes that fit within his or her price range and minimize the chance of a complex homebuying negotiation.
Furthermore, if a homebuyer sets realistic expectations for a home search, he or she may be able to make informed decisions throughout a negotiation with a home seller.
A homebuyer who knows how much he or she can afford to pay for a house will be able to submit a home offer that corresponds with his or her budget. And if a home seller asks for more money, a homebuyer should feel comfortable walking away from a negotiation.
Remember, it is paramount for a negotiation to fulfill the needs of both property buyer and seller. If the negotiation favors a home seller, a homebuyer should be prepared to restart his or her home search.
3. Keep Your Emotions in Check
It is easy for a homebuying negotiation to escalate quickly. But a property buyer who understands how to control his or her emotions can take a step back during a stressful homebuying negotiation and plan his or her next move accordingly.
Stress sometimes can get the best of a homebuyer, especially if a property buyer wants to do everything possible to secure a great home as quickly as possible. If a homebuyer plans for stressful situations now, he or she may be able to reduce his or her stress levels when a homebuying negotiation begins.
Don't be afraid to take time to relax during a homebuying negotiation. Going for a walk outdoors or hanging out with family members and friends may provide a stress-relieving break from a homebuying negotiation.
Or, if a homebuyer wants extra help, hiring a real estate agent is ideal. This housing market professional understands the challenges of homebuying negotiations and will help a homebuyer alleviate stress time and time again.
Ready to acquire your ideal residence? Use the aforementioned tips, and you can get ready for a difficult homebuying negotiation.
Many times the house that people initially buy isn’t the property that will be their forever home. The house could be too big, too small, or not in an ideal location. When you sell your first home, you want to get the most out of your investment. There are so many easy ways that you can upgrade your home for a small amount of money. Any of these upgrades will add value to your home. Read on to find some of the most affordable improvements you can make to your home that will add character and value for you.
Do Something With The Kitchen
While “something” is a bold statement, it’s true. Just about any improvement, you make in your kitchen will give you a great return. Some ideas include:
Change the countertops
Replace the cabinets
Replace the stove
Get a new dishwasher
Install a new floor
There are so many different things that you can do to make a kitchen better. The possibilities are almost endless! The key to any renovation that you do is that you don’t want it to be too styled. Try to aim for improvements that will be timeless. Check out the current trends and see what seems to be a staple in modern homes. Keep in mind that you also have to like whatever it is you’re doing to your home.
Give Your Fireplace A Facelift
Upgrading the fireplaces in your home can be a great project and an excellent way to enhance your home. You can do anything from merely repairing your fireplace relieving it from any cracks. If you’re feeling zealous, you can change the type or face of fireplace you have. Look into switching from a wood burning fireplace to a gas fireplace. Change the front of your fireplace from brick to tone. Fireplaces are attractive features in homes that make any space cozy.
Upgrade The Outdoor Space
An outdoor living space adds a lot to a home. The nice thing about adding outdoor is you can go as big as you want to. If you live in a warm region, an outdoor kitchen is an awesome feature to add on. Put a deck on your house. Construct a patio. Put up a gazebo or permanent screen house. There are so many ways to make outdoor living a possibility.
Clean Up Your Outdoor Space
Giving the outside of your a once over can be an easy way to upgrade your property. You can power wash your siding. Trim your bushes. Add some more plants and foliage to the landscape. These are all simple, yet practical upgrades to your home that add value and appeal.