Corey Bashaw's Blog
Putting your home on the market is not for the faint-hearted! As many people discover along the way, the road to selling a home can be rather bumpy -- especially if you attempt to sell it on your own.
Fortunately, there are several things you can do, right away, to make the journey shorter, smoother, and more rewarding. Here are three strategies that will greatly increase your chances of success.
Find a seasoned real estate agent. An experienced real estate agent will not only help you navigate state and federal regulations, negotiate with buyers, and get a handle on paperwork, but they'll also schedule showings of your home and provide continuous marketing help.
Enhance your curb appeal: When it comes to finding prospective buyers and setting up appointments, your real estate agent will do the lion's share of the work. However, it's mostly up to you to make sure your house looks its best and that the appearance of your property catches the eye of house hunters.
Once your home is listed online and a "for sale" sign is planted in your front yard, potential buyers are going to immediately take notice of how your house looks from the outside. Sometimes people browse listed houses from their cars, so it can really pay to make a great first impression from the street.
Some of the things that matter the most are a meticulous-looking yard, a clutter-free property, and a house that looks like it's well maintained. Adding a fresh coat of paint, displaying some colorful potted flowers, and taking care of unsightly weeds and overgrown bushes are a few things you can do to make your property look a lot more inviting.
Stage your home's interior: Once you've cleared the first big hurdle (curb appeal), your next priority -- or perhaps a simultaneous priority -- is to make the interior of your home look inviting and appealing. As is the case with boosting curb appeal, your real estate agent can provide you with cost-effective advice on how to get the most mileage from your efforts.
Some of the tried-and-proven methods of staging a home include reducing clutter, arranging living room furniture in "conversational groups" to depict a cozy, intimate environment, and letting plenty of natural light stream in to make your home appear as cheerful and bright as possible.
Fresh coats of neutral-colored paint should be applied to walls and ceilings on an as-needed basis, and all floors, tables, and counter tops should be kept immaculate. Home staging consultants often recommend removing (or toning down) certain decorating themes -- such as sports, religion, or even too many family photographs -- which may alienate some potential buyers.
The overall objective is to make it easy for house hunters to imagine themselves owning and living in your home. If there's anything about the appearance, decor, or smell of your home that makes people feel in any way uncomfortable, that could make it more difficult to find a committed buyer -- which, of course, is your ultimate goal!
Attleboro, MA 02703
Buying a home is a lengthy process that requires months or even years of planning. The end result, however, is to have a home you can truly call your own and to own equity that you can then use later down the road.
Figuring out the right time to buy a home can be difficult for prospective homeowners. You’ll need to have a firm grasp on your finances and personal goals for what you want your life to look like for the next 5 or more years.
Buying a home in more than just a financial commitment. It also means you take on all of the responsibilities of owning that home. Maintenance, both inside and out, can take up a significant amount of your time.
Furthermore, owning a home ties you down to one area. You’ll need to determine if you’re ready and able to settle in one area for the next 5-7 years. This has implications for careers and for family life. Will your job bring you elsewhere? If you change jobs, are there ample opportunities where you live? These are just a couple of the questions you’ll need to ask yourself before deciding whether you’re ready to buy a home.
To simplify the process, I’ve created a checklist for some of the things you’ll need before you’re ready to buy a home. While this list does cover the basics, there may be other factors unique to your circumstances that you’ll have to take into consideration.
So, if you’re thinking about buying a home sometime in the near future, read on for the checklist. And, keep in mind that these are not necessarily mandatory before buying a home. But they will give you the best chance of making a solid investment and securing financial stability.
The home buyer’s preparedness checklist
Raise your credit score to 750 or more. A score in the “excellent” range will help you get the lowest possible interest rate on your mortgage. It’s possible to get approved for a mortgage with a score that is much lower, but a high score is ideal and can help you avoid PMI and a high interest rate.
Have an emergency fund saved. You don’t want to buy a house and then suddenly find yourself needing money for an emergency. Save a month’s worth of expenses before your down payment.
Have an active budget plan for saving up your down payment. Creating a dedicated savings account that you automatically have a portion of your pay deposited into is a good way to ensure that you meet your savings goals.
Bolster the case for your financial stability. Lenders will want to see that your income is predictable and regular. Keep records of your income, tax returns, and anything else that can help show that you’re making more than enough money to safely lend to.
Have open conversations with your family. If you’ll be buying a home with a spouse and/or children, discuss what you’re looking for in a home. This can include location, size, etc. It’s a good idea for everyone to be on the same page before you ever start shopping for a home.
Get preapproved. Getting preapproved for a home loan will make you a better prospective buyer in the eyes of sellers.
Run the numbers again. Aside from your mortgage payments, you’ll also have to pay utilities, trash removal, property taxes, and any other expenses related to the home. Make sure you can comfortably afford these while still contributing to savings.
Boston, MA 02127
Purchasing a house on a budget can be difficult for even the most diligent property buyer. Lucky for you, we're here to help you create an effective homebuying budget and reduce the temptation to spend beyond your means to acquire your ideal residence.
Now, let's take a look at three tips to help you craft a property buying budget.
1. Examine Your Finances Closely
Your income, everyday expenses and other financial factors may impact your ability to buy a house. Therefore, you should analyze your finances closely to determine how much you can spend on a residence.
Once you evaluate your finances, you can establish a price range for your home search. Next, you can kick off a house search and move one step closer to acquiring your dream house.
2. Get Your Credit Score
Your credit score is a three-digit number based on your outstanding debt, length of credit history and other factors. It may have a major impact on your ability to secure home financing and establish a successful homebuying budget. As such, you should review your credit score and work to improve it before you enter the housing market.
To obtain your credit score, you can request a copy of your credit report from each of the three reporting bureaus (Equifax, Experian and TransUnion). You are eligible to receive a free copy of your credit report annually from each credit reporting bureau. Thus, you should take advantage of this complimentary perk and obtain your credit report as soon as you can.
If you identify outstanding debt on your credit report, you should work to pay this off. Or, if you find errors on your credit report, you should contact the bureau that provided the report to fix these mistakes.
3. Meet with Lenders
Banks and credit unions are happy to meet with you to discuss various home financing options. If you consult with these lenders, you may be better equipped than ever before to create a successful homebuying budget before you launch a house search.
Ultimately, lenders can help you get pre-approved for a mortgage. If you get a mortgage prior to searching for a house, you'll know exactly how much you can spend on a residence. Then, you can speed up your home search and discover your dream house faster than ever before.
As you get ready to begin your quest for your ideal residence, you may want to hire a real estate agent too. This housing market professional can put you in touch with top lenders in your area and help you secure home financing. Furthermore, a real estate agent can tailor a home search to your property buying budget. Perhaps best of all, a real estate agent will help you negotiate with a seller's agent to ensure you can get the best price on any home, at any time.
Create an effective homebuying budget – use the aforementioned tips, and you can establish a property buying budget and use it to streamline your home search.