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| Attract Potential Buyers to Your House with Curb Appeal |
Curb
appeal refers to what house-hunters first see when they visit your
home, or even as they drive through neighborhoods browsing "For Sale"
signs. When someone is considering your house as their new home,
first impressions count - make sure it's a good one with these tips:
De-clutter your yard by
removing anything that doesn't serve a practical or decorative purpose.
Gather children's toys, remnants of your last gardening project, and
any other items that don't belong, and place them out of sight. A
cluttered front yard may lead passersby to think the inside of your
home is equally unkempt.
 Tidy
up your yard by making sure the
lawn stays well-manicured. Mow it often, and trim shrubs and trees that
may have become overgrown, especially if they get in the way of a full
view of your house. Add mulch to your flower beds for a budget-friendly
method of freshening up your yard. You might even add some colorful
annuals to brighten things up.
Try to look at your house
objectively. If your door is painted a bright color that may not appeal
to most potential buyers, consider painting it a more neutral color. Or,
if a few spindles on your front porch are missing, replace them.
Simple, budget-friendly alterations can really make a difference in
making your house look inviting and appealing to potential buyers.
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| How to Choose a Contractor for Home Repairs |
 When you purchase a house, a contingency of the contract may be an
allotment for certain home repairs and updates, negotiated by the
former homeowner and the new one. Depending on the services you
require, you may need to hire a plumber, electrician, or some other
contractor. To ensure you get high-quality work for a reasonable
price, you'll want to do your homework and find an experienced and bonded
contractor. Ideally, ask a friend, coworker, or a new neighbor for a
referral. Ask what kind of project the contractor completed, and if the
price and amount of time it took to complete the project was
reasonable. Getting a referral from someone you know will make it more
likely that you will get a truthful and candid recommendation.
If you don't
have someone who can provide a referral, start by searching the phone
book for contractors from larger, more established companies. Chances
are that if they've been in business for more than a few years, their
work is quality. But just to be on the safe side, after you've narrowed
down a few choices, consult the local chapter of the Better Business
Bureau or the Chamber of Commerce to see if any complaints or issues
have been filed against the companies you're considering.
When
you choose a company to work with, it's reasonable to ask for a list of
references or examples of past projects. You may also verify the
business's insurance coverage and work permits. After all, they will
be in your home -- so take the precautions you need to ensure you've made a
well-informed decision. Finally, a deposit may be required to begin
work, but you shouldn't be expected to pay the balance on services
until the project is complete.
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 Shopping
for a home is a big undertaking, but add a few hundred (or thousand) miles and
you've got a long distance headache. But luckily with today's technology, home shopping
across the miles is much easier. Here are some tips to help you find your new
home:
Look online. You'll be able to search for homes in the city you're moving to
based on price, size, neighborhood, and many other factors that might make or
break a housing decision. Looking online and in the classified section of the
city's newspaper should help narrow down some choices. Once you've narrowed
your choices down, you'll be able to make an appointment with a realtor to view
the properties that meet all of your specifications, saving you valuable time
and effort.
When it comes to finding a realtor, if you're moving for work, you may be
assigned a relocation specialist whose company will have an agent they usually
work with. However, if you're not getting help with your move, you'll need a
real estate to represent your interest as a buyer, so ask your new employer, or
a friend, or a family member that lives in the area for a referral. If you
don't know anyone in your new town, ask your local realtor for a referral.
Realty is a profession that thrives off networking, so chances are your local
realtor can connect you with someone in your new town.
One note of caution: hiring a good real estate agent is important in any
situation, but it's particularly important when you're shopping for a home long
distance. Your realtor should be a good communicator, keep in touch with you,
and be attentive when you discuss your wants and needs. Especially if you're
under a time constraint, your realtor should only contact you about the kinds
of properties you've expressed interest in.
Lastly, don't trust your agent too much--even with the availability of useful
tools like virtual tours, buying a house sight unseen is just not a good idea.
Your research and real estate agent may have given you a lot of information on
a house, but there are factors like walking through a neighborhood to get a
feel for it, and visiting the schools your children will attend that you should
check out first. After you've done your research and found some homes you're
interested in, you and your family should plan a weekend where you can go to
your new town and tour houses, pay special attention to the neighborhoods, the
distance from work, schools, the gym, the mall, museums, etc.
Shopping for a new home and moving to a new city should be exciting, so try not
to get so distracted by the destination that you don't enjoy the journey along
the way. As long as you do your research, keep the lines of communication open
with your realtor and family, and be cautious before making any major
decisions, you'll find the perfect new home--whether it's a few states away or
on a different continent.
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| Financial FAQs for First Time Home Buyers |
What financial benefits are there to buying a
home, instead of renting?
When you rent a home, you essentially throw that money away every month, but
when you buy a home, you're making a lasting investment. Even better, when you
own a home you can deduct each month's mortgage interest from your , and
sometimes even state income taxes, which will save you a lot over time by
basically reimbursing you for the interest you pay each year. You can also
deduct the property taxes you pay on your home. And keep in mind that the more
pride you take in your home by renovating it and doing home improvements, the
more likely it is that your house will increase in value over the years, making
it an even more lucrative investment, not to mention more comfortable and
enjoyable for you and your family to live in.
How much of a deposit should I plan on
putting down toward my first home?
The amount of deposit depends on the price of the home you're looking to
purchase, along with the specifications of the lender you decide to work with.
However, a general rule of thumb is to plan on depositing 5% of the price of
the home as your down payment.
Besides a down payment, what else do I
need to apply for a home loan?
You'll need documentation that confirms your identity and your income, like
your driver's license and birth certificate, tax returns, pay stubs, and bank
statements.
What other fees can I expect during the
home purchasing process?
You should generally budget between 5-7 % of the price of the home (on top of
the money you'll deposit) to cover additional fees and charges that come along
with buying a home. Depending on your unique situation there may be a different
amount of fees, but generally the fees are: building and pest inspection, valuation
fees, lenders' mortgage insurance, connection fees for phone, gas, water, and
electricity, and solicitors fees.
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Preventing Foreclosure
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Foreclosure is a bleak reality in the country's current real estate
crisis, but even in difficult financial situations, it's avoidable with
these steps:
1. Face the problem head on. When you realize
you're falling behind on your mortgage payments, contact your lender...
most lenders provide options for borrowers to help them get through
difficult financial times without facing foreclosure.
2.
Prioritize your spending. A mortgage is often the largest expense a
family is responsible for, but difficulty paying the mortgage is
usually due to poor money management, not lack of money. Write down
every purchase you make in a week and you may start to see that
frivolous spending (eating out, buying unnecessary items, etc.) is
adding up and taking away from the mortgage fund. Consider eliminating
optional expenses like cable, internet, and club membership until
you're caught up on mortgage payments and have a budget in place to
prevent it from happening again.
3. Use your assets. If you're
in dire financial straits and having difficulty catching up on your
mortgage payments, consider selling a second car or getting a second
job to help catch up. This will not only bring more money into your
home, but it will also demonstrate to your lender that you are actively
trying to keep your home, even if it means making sacrifices.
4.
Know your rights. Contact your State Government Housing Office to learn
about foreclosure laws and timelines in your state to find what your
lender can legally do if you don't make your payments. And finally,
don't succumb to "foreclosure prevention companies" preying on the
vulnerable. These companies often charge the equivalent of 2-3 months'
worth of mortgage payments to negotiate with your lender, a service
that various nonprofit organizations will do for free.
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Top 3 mistakes homeowners make before closing
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Click here to view advice on avoiding pre-closing mistakes.
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Good Smell, Easier Sell: How Fragrance Can Help Sell Your Home
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Did you know that, according to ActiveRain.com, the most
successful fragrance to use when you're trying to sell your home is a cinnamon
apple fragrance? If you're looking to sell your house, your nose knows, but how does it work? Potential
homebuyers subconsciously equate certain scents with feelings of comfort and
familiarity, definitely factors that will help them imagine living in your
home, so before you open your house for tours, try these home staging tips to
help get your home smelling fresh and fabulous:
Bake something before guests arrive. The smell of freshly baked bread or the
aroma of an apple pie a few minutes out of the oven will really waft throughout
your home and right into the noses of potential home buyers.
Use candles. You don't even have to light candles for them to help brighten up
the fragrance of a room, so place some candles in closets, bathrooms, and
bedrooms to freshen things up a bit.
Buy some flowers. A vase of flowers on your kitchen table will not only
brighten up your kitchen, but if you use a fragrant variety of flowers like
roses or gardenias, they'll enhance your home's selling power.
Simmer a pot of mulling spices on your stove for an easy sweet-smelling kitchen.
Try simmering cinnamon sticks and cloves on your stove in some water on low temperature
and your home will start smelling good enough to eat (or live in!).
Finally, remember that with scents, less is always more. Everyone has had an
experience with too many scents at a perfume store or an overpowering cologne
worn by someone in an elevator, so when you're using fragrances to stage your
home for tours, don't go overboard. And remember, if all else fails, use an
apple cinnamon fragrance to charm potential home buyers.
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