SPECIAL SECTION:
Real Estate
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!
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! ■
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