with the type of home you want to buy or sell. This will also
indicate their knowledge of the market.
7 BUYING/SELLING: Get a second opinion.
When you have lived in your home for years, it’s easy to overlook
problems that potential buyers may spot right away. Have a
relative or trusted friend come over to spot any small fixes that
you can make prior to putting your home on the market to make
sure it’s in optimal condition prior to selling. When considering
buying a home, it’s also helpful to have someone who is not
buying the home go with you to take a look. He/she will be able
to point out potential issues that you may not see when trying to
make such an important decision.
4 BUYING: Protect yourself!
8 SELLING: Ignore the housing market.
It’s easy to get wrapped up in signing papers and losing sight
of what you are agreeing to when buying a home. Fortunately,
contingency clauses can protect you from losing what is yours.
An example is a mortgage-financing contingency; if you lose
your job or your loan falls through, you’ll get your “earnest
money” back in full. Otherwise, you may be obligated to follow
through with purchasing a house you can no longer afford.
Don’t waste your time watching the housing market for the best
time to sell. According to Investopedia, “it doesn’t matter what
your home is worth at any given moment except the moment
when you sell it. Being able to choose when you sell your
home, rather than being forced to sell it due to job relocation or
financial distress, will be the biggest determinant of whether you
will see a solid profit from your investment.”
5 BUYING: Enjoy the view?
It’s obvious that homes with a view can sell big. In fact, Realtor.
com states that homes with a view of the city sell the fastest,
with an average of 83 days on the market, while homes with
an ocean view sit for 98 days (mostly due to the elevated price
of oceanfront property). If you are in love with a home with a
view, be sure it is there to stay. Although you may see rolling hills
through your living room window now, who’s to say a real estate
developer won’t see that same space as the perfect opportunity
to build more homes? Check with your local municipality for
land use regulations to make sure your view will remain.
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 roo