Susan Baghdasarian's Blog
When placing your home on the market you’ll likely need to plan to hold an open house or two. If there's a chance of bad weather during a scheduled open house, you might question moving ahead with the event.
Before you cancel, here are a few things to consider:
Serious buyers venture out in all types of weather, so those who show are less likely to be simply curious lookers.
Buyers can experience that your home stays cozy and warm even in poor weather.
Your roof’s secure structure will shine through.
Canceling may signal to buyers that windows, the roof, or the basement areas leak and that your exterior drainage needs work.
Canceling at the last minute might make folks think twice about returning if they made the initial effort to attend.
How should you compensate for bad weather?
Make the experience pleasant:
Turn on every light. Make your home as bright as possible. You want potential buyers to see your home as warm and inviting.
Open the curtains, shutters, and blinds.
Check that gutters are clear of debris. Be sure water flows freely from gutters into your downspouts and that it diverts away from walkways.
Provide outside and inside doormats and set a stack of towels near the entryways in case anyone needs to dry off.
Set an umbrella stand near the door so that wet umbrellas stay in one spot.
Odors may appear stronger on wet days, consider moving pet beds and similar items to the garage. Use a lightly-scented fabric refreshing spray to eliminate odors in furniture, carpets, or drapes.
Provide warm beverages and to-go cups for your guests.
If you question holding an open house during inclement weather, consult your local real estate professional. They know your market, and they know the sorts of buyers that will come — rain or shine — to find their new home.
Buying a house should be a fast, simple process. However, problems sometimes can arise that prevent a homebuyer from discovering his or her dream residence.
Ultimately, there are many factors to consider before you purchase a house to ensure you can avoid myriad homebuying hurdles, and these factors include:
1. Your Home Needs
No two houses are identical, and much in the same vein, no two homebuyers have the same definition of the perfect residence. As such, a homebuyer should consider his or her dream home demands prior to kicking off a home search.
Making a checklist of home "must-haves" and "wants" is paramount. With this checklist in hand, a homebuyer will be able to refine his or her home search and map out the property buying journey accordingly.
It may be helpful to consider your day-to-day activities as you evaluate where you want to live too.
For example, if you work in the city, you may want to find a house that is located near public transportation. Comparatively, if you have kids, you may want to consider houses that are located close to top schools.
2. Your Budget
You know that you want to buy a house. On the other hand, you still have no idea how much money is available to ensure you can make your homeownership dreams come true.
When it comes to buying a house, it pays to meet with banks and credit unions. With pre-approval for a mortgage, you'll know precisely how much you can spend on a house.
To get pre-approved for a mortgage, set up consultations with several potential lenders. Then, you can learn about all of your mortgage options and select a mortgage lender that matches or surpasses your expectations.
3. Your Homebuying Timeline
Are you looking to buy a home as soon as possible? Or, can you afford to take a wait-and-see approach throughout the homebuying journey?
Examine your homebuying timeline and plan ahead as much as possible. By doing so, you can boost your chances of finding a terrific house and minimize stress as you browse the real estate market.
Regardless of your homebuying timeline, it always helps to work with a real estate agent. This housing market professional can take the guesswork out of searching for a residence and ensure you can discover a stellar house at a budget-friendly price.
Typically, a real estate agent will keep you up to date about new residences as they become available. He or she also will provide honest, unbiased homebuying recommendations and respond to any homebuying concerns and questions.
Let's not forget about the support that a real estate agent can provide during homebuying negotiations, either.
A real estate agent is happy to negotiate with a home seller on your behalf. That way, he or she can help you secure a great house without having to worry about paying too much.
Streamline the process of acquiring your ideal residence. Consider the aforementioned factors, and you can keep things simple as you proceed along the homebuying journey.
Preserving your resale value starts with spending time and money on small repairs rather than waiting until you need a major renovation. Luckily, there are home maintenance apps built for busy owners who have a lot of other responsibilities on their plate. Far more than just a glorified notes section on your phone, the wide variety of apps available means you can tailor the experience specifically to your property. We'll look at some popular apps so you can determine if they're right for you.
Can't find the user manual for your dishwasher? Unsure of how to troubleshoot a stuck water valve? Apps like Centriq were designed to provide critical information about your appliances. All you have to do is take a photo of the product label, upload it into the app and access the data. The app can also alert you if there are any safety recalls to the appliances so you can keep your home safe.
Ignoring your soil, shrubs and flowers can make the entire property look neglected. Apps like iScape were designed to help people find plants that will accent the home's best features (and thrive in your climate). These augmented reality suggestions can make your yard more functional when you're there and more attractive to potential buyers when you're ready to put it on the market.
From changing filters to replacing batteries, standard home maintenance tasks are easier to keep up with when you have an app. Get the alerts you need and pare down your to-do list one by one. Apps like Househappy not only streamline information about your home's major systems (e.g., electrical, plumbing, etc.), but can also connect you to contractors if you have a question or if you have an issue that you're not quite ready to take on alone.
If you're the kind of homeowner who wants to ramp up their DIY skills, apps like DIY Tip Genius are there to inspire. With ideas for every skill level, this can be a great way for anyone to dip their feet into the DIY pool. Whether you repaint, install your own shelves or do a mini-bathroom makeover, becoming more invested in your home sends a strong message to potential buyers. You're telling them that this property has been well-cared for.
The right financial tools can help you understand more about your equity and depreciation. Apps like HomeZada can tell you more about what you own and how values are changing over time. From insurance to home sale price, you can get a sense of how the forecast should impact your home maintenance plans. For example, does it make sense to replace or repair your roof if you're planning to sell a year from now?
The right home maintenance app depends on your interest, DIY skills and future plans. Those who are in a seller's market may only need to do so much maintenance to keep their home at the top of its game. No matter what, the technology can be a game-changer when it comes to simultaneously preventing major issues and improving the home's resale value.
An engaging home listing can play a key role in your ability to sell your house. If your listing hits the mark with potential buyers, the likelihood increases that buyers will set up showings to view your residence. And as a result, it may be only a matter of time before you receive multiple offers to purchase your house.
Ultimately, creating an engaging home listing can be simple – here are three tips to help you craft an effective listing for your residence.
1. Provide Accurate Information About Your Home
A home listing often introduces a buyer to a house. If a listing includes accurate information about a residence, a buyer may be inclined to check out a particular house sooner rather than later.
Remember, it is your duty as a home seller to help a buyer make an informed decision about whether to pursue your residence. If you include accurate information about your house's age and condition in your listing, you can make it easy for a homebuyer to determine whether your residence is the right choice based on his or her individual needs.
2. Include High-Resolution Photos of Your Home
An engaging home listing includes lots of relevant information about a home. At the same time, this listing should feature plenty of high-resolution photos that showcase the true size and beauty of each room of your residence.
If possible, take photographs that can help buyers envision what it is like to walk through your house. You may want to clean your home from top to bottom and remove clutter before you take these photos as well.
For those who want extra help with real estate photography, you can always hire a professional photographer. Because if you have a real estate photographer at your side, you can reap the benefits of top-notch photographs that can be incorporated into your home listing.
3. Keep Your Home Listing Simple
There is no need to use big words or complex phrases to try to differentiate your home listing from others. Instead, keep things simple, and homebuyers can decide for themselves whether to move forward with a home showing.
Lastly, if you need help crafting an engaging home listing, you can always reach out to a real estate agent for assistance. This housing market professional can provide expert guidance throughout the home selling journey and ensure you can achieve the optimal results.
A real estate agent will learn about your home and help you put together an informative home listing. He or she also will set up home showings and open house events to promote your residence to prospective buyers. And if you receive an offer to purchase your house, a real estate agent can help you review this proposal and determine the best course of action.
Ready to add your house to the real estate market? Use the aforementioned tips, and you can create an engaging listing to help your house stand out to dozens of potential buyers.
When you buy a luxury home, you have several options when it comes to paying for the home. While some luxury buyers invest fully in the home and purchase outright, most find that opting for a mortgage of some type keeps options open and reserves capital for other things. Mortgages can be used for high end homes, but not all products are available -- or useful -- for this luxury space. Whether you are buying or selling, knowing what to expect when it comes to financing can help you strike the perfect deal.
Depending on where you live and the cost of the high end home, a conventional mortgage could be all you need. In parts of the country where a huge home in pristine condition still falls within the guidelines of a complying mortgage, this may be your best option. While it may not always work for you, exploring the conventional financing options is an ideal first step.
Conventional loans are conforming loans – that fall within a specific set of guidelines. You can use a conventional loan for your own residence or for a vacation or investment home. Opting for this type of mortgage could result in lower costs to you (if you have at least 20% equity, you can avoid PMI). If the mortgage for your prospective home is under the limit of $453,100, then you can choose a conventional loan for your home.
That $453,100 limit is for mortgages in most areas, but a few select zip codes in the US allow for an even larger limit. In these high end locations, the limit for a conventional loan is much higher: $679,650. These limits are not the cost of the home itself, but the amount that you can borrow and still qualify for the conventional, conforming loan.
When a conventional loan isn't quite right, or the loan amount for the home in question is over the stated conventional limits of $453 or $679K, then a jumbo loan will work best. These loans are designed for expensive, high end homes and properties and may have more stringent requirements when it comes to down payment amounts and the assets that need to remain on hand after the home purchase.
Aside from the differences in the amount of the loan, a jumbo loan works in a way that is very similar to a conventional loan. Expect to go through an underwriting process, to supply proof of income and to shop around for the best possible rates when you choose this option.
No matter what product you choose, expect a luxury home mortgage to follow similar steps to a conventional one. Depending on the amount borrowed and the buyer's financial health, the process could take less time than a conventional one.