Even with the craziness of the past year, plenty of people are looking to purchase a home. Homeownership is a prize worth seeking but it can seem overwhelming for anyone going through this process for the first time. Even if buying a home is a long-term goal for you, there are some things you can (and should) focus on right now to get prepared to buy your next home.
When it comes to selling a home, most realtors will tell you that spring is king when it comes to the best time to sell. Spring listings always seem to move faster, and the better weather seems to be naturally set for open houses.
But you don’t always get to pick when you have to put your house on the market. If you’re putting your home up for sale during the winter, then you need to check out the following tips on how to sell your home faster.
4 Tips for Selling Your Home in Winter:
If you’re trying to sell your home this winter, it’s not a good idea to decorate it as bright as the Christmas Vacation home. But there are some tasteful, modest things you can do to help emphasize your home’s “cheery” qualities that make it feel like a great home for the holidays.
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For those in the market for a new home, there are lots of different pieces of advice that people will try to offer you about buying a house. But one piece of advice is so good that you can take it to the bank.
It is absolutely imperative that you get a good home inspection before you sign on the dotted line. Failure to do this can result in getting burdened with a real money pit instead of your dream home.
Here’s a rundown on what you need to know about home inspections:
Buying a new home is one of the largest investments a person will ever make. To protect yourself from buying a home with major problems, it is imperative that you get a home inspection. This will protect you and ensure that your home is a safe one that you won’t throw your money away on.
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Buying a new home is not something you do on a whim or the spur of the moment. It is something that takes meticulous planning and careful decision making.
Whether you are buying a first-time starter home, expanding your house with the size of your family, or downsizing in your later years, there are certain aspects you need to know before you sign on the dotted line.
Here are the big questions you need to ask before you buy your next home:
If you are buying a new home, it is imperative that you do your homework first and get all the details down before you make your purchase. This is a major commitment and not one you want to make without all the facts in front of you.
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There’s an old adage that the three most important words in real estate are “Location, location, location.” But maybe it’s time to add a fourth one to that mix—time. As in, when is the best time to try to sell your home? There are many different currents of thought that suggest the best time of year to list your house.
The standard has generally been that spring is the best time to sell your home. During this time of year, people are out and more active now that the weather is getting warmer. As a result, you have more traffic going by to notice your house is for sale. Also, the weather is generally better which means it is easier to move. All of this adds up to a good combination which often leads to more sales. If you plan to put your home on the market during the spring, then it is a good idea to do repairs and touch-ups during the fall and winter to have it ready for the sales season.
OK, you’re probably saying, isn’t this the exact opposite of what you just said. Yes, it is, but bear with me. Spring is usually packed with lots of people trying to sell their homes. Yes, you will get more foot traffic viewing your home, but you will also have A LOT of competition from other homeowners who are also following the old spring standard. Some studies have found that you may get more for your home if you try to sell in the winter (from November to March). This is because there are fewer homes on the market and those who are desperate to move don’t have a lot of negotiating room.
Generally speaking, these have been slower times of the year for house sales. Depending on the weather in your area, summer is often too hot for people to want to get out and walk around properties. Also, people have other things going on like vacations and summer family activities. Similarly, fall is usually taken over by back-to-school activities. When you couple this with the sun going down earlier and the weather being rainy, then you can see why people don’t tend to go out to house shop during this time of year.
There are lots of different ideas as to when is the best time to sell your home. Ultimately, you need to find the date that works best with your market and your needs. Talk to your real estate agent to find the time that is perfect for you.
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Buying a new home is one of the most important (and daunting) processes that many of us will go through. If you are new to homeownership, it can seem even more challenging as you may not know what to do to get the ball rolling on making a purchase.
Buying a home is a big step but it doesn’t have to be a scary one. Make sure to follow these steps and you will be able to get the best deal so you can move quickly into the home of your dreams.
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Relocating to a new city or even a new state or country can be an exciting prospect as it has the hopes and promises of a fresh beginning. However, it can also be terrifying to many people who have to pick up everything and start over somewhere else.
What makes this transition even more daunting is the move itself—the organizing, the planning, and the packing!
The last pile will be for stuff that you don’t want or need that isn’t in good condition. Just toss this pile straight into the trash. The more stuff you can get rid of, the better because it’s less hassle for you. (You can also toss the donate pile into a yard sale and try to make a few extra bucks before donating them. This money can help buy pizza for your friends as you entice them to help you move.) Once you’ve done the first room or area, move on to the next in a systematic fashion.
One of the most important things that can help make any relocation easier is advanced planning. Trying to throw everything together the night before a move isn’t going to be successful. By staying ahead of the game, you will not feel rushed and frustrated and your move will be a smooth one.
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When the housing bubble burst in the early 2000s, a lot of people realized they had purchased homes that were too big for them. Since then, many people have been skittish about upsizing their homes for fear of taking on more than they can afford.
This is certainly a valid argument, but you should still be able to upsize if your finances and lifestyle allow for it. Here are some things to think about as you decide whether or not upsizing is right for your family.
If your family is growing and you are in need of a larger house, then it’s time to do some research when it comes to your finances and home needs. If you’re ready to make the move to a larger home, you need to make sure that you can afford it before you decide to commit.
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If you’re thinking seriously about buying your first home, then you should know that the experience can be trying and difficult at times. The process can be a long one and can sometimes feel a bit overwhelming.
In the end, however, when you walk into that home knowing that it’s yours, it feels so much more satisfying than renting. You should feel pride in what you have accomplished, especially knowing the economic benefits of owning versus renting.
With that being said, here are some things you need to do as you prepare to buy your first home:
After you’ve gone through all of this, it’s time to make an offer and see if your bid is accepted. Then comes the worst part of the whole process—the waiting. But once you get that call that your offer has been accepted, the feeling of elation makes the process well worth the experience.
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Home ownership, for most Americans, is both a dream and a sign of financial independence. But buying a home can be a scary proposition for many first-timers who may not understand everything about this complex process.
Here are some steps you need to take to become a first-time homebuyer:
First-time homebuyers can generally get a loan with as little as 3% down. However, this may come with additional fees and requirements such as having to buy private mortgage insurance. Twenty percent is often a better option for a down payment, but that can put home ownership out of most people’s range. A good 10% down means $10,000 for every $100,000 of a home that you want to buy.
Next, you are going to want to look at different mortgage options. Become familiar with conventional loan programs like Fannie Mae and Freddie Mac as Federal Housing Administration (FHA) loans. If you are a veteran, you can also look into VA loans that may require no down payment.
Look at your finances and determine what you can afford to spend each month on a mortgage. This will prevent you from wasting time looking at houses that are outside of your budget range and keep you from getting in over your head with a mortgage that you can’t afford.
Don’t take the first bank you look at as the best for interest rates. Saving just a fraction of a percentage point has the possibility to save you thousands of dollars in the long run.
One of the best things that you can do as a first-time homebuyer is to come to your real estate agent armed with a pre-approval from a local bank. This can give you an advantage when you make an offer on a home as an owner will generally choose someone with pre-approval over someone without it.
If you are looking for a home, you need to list out the amenities you are looking for—such as proximity to public transit or shopping sites or the quality of the schools. Once you start looking at neighborhoods, be sure that they fit into these qualifications. Before you make an offer on a home, you should also research the crime rate for that area.
Another thing you need to do when you are calculating your budget is to remember to figure in closing costs. Estimate between 2% and 5% of your total loan when you are making this figure.
Being a first-time homebuyer can be an exciting (and terrifying) prospect. But with a lot of research and acquired knowledge, you can take the nervousness out of this process and perhaps even find the home of your dreams.
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