WHEN TO SELL Current homeowners have a positive outlook with the real estate market on the up and up . Keep in mind these real estate selling tips before your house goes on the market .
IN THE MARKET TO BUY — IT ’ S A NUMBERS GAME The real estate market is on the rise , and buyers are facing low inventory on affordable homes . Whether you are looking to purchase your first home or in the market for a new home , it is crucial to get all of your numbers in order before starting the search for a new home . Keeping these tips in mind will help make you an ideal buyer :
SPECIAL SECTION : REAL ESTATE
WHEN TO SELL Current homeowners have a positive outlook with the real estate market on the up and up . Keep in mind these real estate selling tips before your house goes on the market .
1 . Keep it clean ! It ’ s easy for life to take over and daily chores to fall by the wayside . Don ’ t let this spoil your goal of selling your home . Kids , pets and messy spouses should be kept at bay during peak viewing hours . Finding it hard to live at home while trying to sell ? Invest in a few extra storage bins with decorative flair to keep toys , clothes and shoes out of sight to potential buyers .
2 . Where possible , take the home out of your house . Remember , buyers are buying their new home , not your old home . Get a head start on moving out by putting trinkets and collectibles in the basement and giving potential buyers the ability to picture their own unique personalities in the space . Closets are an important selling feature , so start packing away off-season clothing to give closets the appearance of more space .
3 . Make smart upgrades . Make moderate upgrades that speak to the current market of buyers . Replace old carpets with new hardwood or laminate flooring . Invest in a fresh coat of neutral-colored paint for bedrooms and common areas . Fix broken closet doors , replace outdated hardware with sleek new knobs and handles , and clean your mirrors and windows . Thinking small will deliver big payback .
4 . Cooks in the kitchen . Every cook wants a nice kitchen . If you have some money to spend , think about upgrading flooring and countertops to match current styles . Think about upgrading one or two key appliances to stainless steel . Don ’ t have much money to spend ? Good-quality cabinets can always be painted or updated with new hardware . The upgrades will be worth it .
5 . First things first . You want to capture potential buyers the minute they pull up to your house . Keep the lawn tidy and plant a few flowers to make your home approachable . Light a candle or add fresh-cut flowers to the main entrances or common areas of your home to make it feel more inviting .
IN THE MARKET TO BUY — IT ’ S A NUMBERS GAME The real estate market is on the rise , and buyers are facing low inventory on affordable homes . Whether you are looking to purchase your first home or in the market for a new home , it is crucial to get all of your numbers in order before starting the search for a new home . Keeping these tips in mind will help make you an ideal buyer :
● The BIG 20 … percent , that is . Most real estate agents will start to take you seriously only after providing a pre-approval letter . If you are thinking that a home purchase is in your future , start to look at your finances . You ’ re going to need cash , and a lot of it . To avoid PMI and paying additional fees on top of your mortgage , aim to put down 20 percent . If you have relatives or really great friends who are willing to assist you in reaching the 20 percent mark , make sure you look at the rules of receiving “ gift money .” Many banks only accept up to a certain percentage of your down payment to be gifted .
● What is FICO and why is 720 important ? If you are in the market to buy , the letters F-I-C-O are familiar to you . Fair Isaac Corporation , or FICO , is a well-known software for calculating an individual ’ s credit score . When getting pre-approved by banks for a mortgage , it is important to have a good score . What is good ? 720 . According to FICO , the median score in the U . S . is 723 . If you are looking for great credit , shoot for anything higher than 723 ( think in the 800-900 range ). Most banks will offer similar options if you are at or above 720 , but if you dip below , it may be best to start by trying to improve your credit before buying a new home .
● Pick your budget range . It is almost impossible to search for a home without knowing what you can afford . Most likely you ’ ll fall in love with the house of your dreams with an updated kitchen , a claw-foot tub and a man cave , and go to put an offer on it only to find out it exceeds your allowable budget provided by a mortgage lender . Heartbreak will ensue , but you ’ ll get back on your feet with the realization that you can still get the home of your dreams ; you ’ ll just need to narrow your search . By this point , your Realtor will be able to provide you with options that fit the bill . All real estate websites also provide the convenient option to search by neighborhoods in your price range .
● Make an offer by choosing your numbers wisely . When you ’ ve finally found THE ONE , it ’ s time to make an offer . Make sure you do your homework — find comparable houses that were recently sold in the proximity to see if the asking price is fair . When comparing , be sure to take into account number of bedrooms and bathrooms , updates made to the house and other factors that may determine house price . Once you decide on a fair price , you ’ ll include earnest money with your offer to show good faith . This money will be held by your Realtor until the deal is finalized , then will be put toward your down payment .
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