SPECIAL SECTION:
Real Estate
9. SELLING:
Will renovating always increase my resale value?
Make conscious decisions when renovating your home.
While newer will entice potential buyers, be cognizant of
what rooms you update and how you do it. While updated
kitchens will increase the value of your home, be sure to
appeal to a wide range of tastes. A good place to start is with
the appliances. Realtor.com states that homes with stainless
steel appliances sell 15 percent faster than those without.
Updated bathrooms are easier to satisfy a wider range of
buyers’ desires for luxury, but be sure to keep the colors
neutral.
10. SELLING:
Don’t spend earnest money!
Many sellers make the mistake of depositing and spending
earnest money before closing day. If the transaction doesn’t
go through or the buyer pulls out due to repair issues, it is up
to the seller to return the cash. It is recommended to have
a real estate agent or broker hold the deposit. Most buyers’
earnest money will be held in an escrow account until the
closing day, allowing the money to remain untouched by
either party.
FUN FACT:
Get the name and numbers.
Just when you think you’ve checked all the boxes for an
easy sell of your house, take a second look at your address.
According to Zillow, street names and house numbers
matter! If you happen to live at 666 Fanny Hands Lane, you
may be out of luck (however that particular street is in the
United Kingdom, so you should be safe). Innuendo-laden
street names tend to not sell as quickly as something more
like Thunder Road. American numerology says that 666
is bad luck and could decrease the value of your home by
2-3 percent. Also, steer clear of the number four, considered
unlucky in Chinese culture. Stick to the number eight, or
include the lucky digits 316 in your asking price!
Before entering the real estate market, educate yourself.
The more you know, the better your chances are for nailing
down the home of your dreams! ■
not have made it onto real estate
websites for public viewing.
3. Location. Your dream house may
not be in your dream location, and
your dream location may not have your dream
house. Don’t get stuck in a rut if you’re not seeing
everything you want in your price range. Typically,
you’ll need to make some compromises with your
first home. Keep a few non-negotiables in your
back pocket, but otherwise be open to the idea of
putting some of your own upgrades and changes
into a home that may not have everything on your
wish list.
4. Home. Don’t get stuck in the mindset that you
should spend every dollar that you qualify for in
your mortgage. This could lead to bigger problems
down the road. Look in the market under your max
budget and be creative when looking at homes
for ways to make improvements or changes that
better fit your needs. A little bit of sweat equity
can go a long way and will give the home your
own personal touch.
5. Offer. Once you’ve found a house you want to call
“home,” work with your real estate agent to come
up with an offer the seller can’t refuse. Whether
the house needs some improvements or it’s a hot
buy on the market, your agent can guide you into
making a serious offer to the seller. If you’re feeling
passionate about the home, write the seller a letter
explaining why you’re the best buyer for the home.
These touches can sometimes be the difference
between getting the house of your dreams, or
losing it to another buyer.
6. Moving. You’ve done it! You’ve purchased your
first home. Now that you have a mortgage to pay,
keep in mind some money-saving tips, like asking
your closest family and friends to help you move!
A little pizza can go a long way when looking for
some extra help. Make a plan for those personal
touches to add to your home. Test out paint colors
in each room to make sure you like the color in the
daylight. Purchase furniture after making detailed
measurements (you don’t want to come home
with something that doesn’t fit!). Add some curb
appeal as a finishing touch and as a way to meet
your new neighbors!
CHARTIERS VALLEY ❘
SUMMER 2019
27