by KatieM | Nov 17, 2022 | For Sellers
If you decide to sell your house, you’ll want to do everything you can to maximize your profits. However, to get as much as you can out of your house, you’ll have to do a little more on top of simply listing it and hoping you find a buyer willing to give you what you’re asking.
With that in mind, the following are four tips on selling your home for more money:
1. Price your house correctly
The most important factor in getting top dollar for your home is pricing it correctly from the start. One of the biggest mistakes sellers make is pricing their homes too high, thinking they’ll be able to come down later if nobody bites. However, overpricing your house can scare potential buyers away. And the longer your home sits on the market, the more difficult it will become to sell.
2. Make necessary repairs and updates
If any major repairs or updates need to be made to your home, it’s best to do them before putting your house on the market. Not only will this make your home more appealing to potential buyers, but it will also increase its value. If you’re unsure what repairs or updates need to be made, a home inspector can give you a detailed report.
3. ‘Time’ the real estate market
If you put your house up for sale during a buyer’s market, it will likely take longer to sell because there will be fewer buyers, and you’ll probably have to lower your asking price. However, if you list during a seller’s market, you’ll likely have more buyers interested in your home and you might get away with a higher asking price. Competition may even result in a bidding war. Pay attention to your area’s market conditions to help determine the best time to list your home.
4. List your property at the right time
Besides timing the market, try to list your market during the peak season, either in the spring or summer. This is when more buyers are looking for homes than at any other time of year, so you’ll have a better chance of selling quickly and for top dollar.
These are four tips you should keep in mind to help ensure you get the most money possible from selling your home. Contact us at Randy Lindsay today for more tips on selling your home.
by KatieM | Nov 10, 2022 | For Buyers
When you buy a house, you’ll want to insure it. If you take out a mortgage to pay for your home, the lender will likely require you to buy homeowners insurance as part of the agreement.
Even if it isn’t required, getting your home insured against damage or loss is a good idea. But what many homeowners don’t realize is that their insurance policy may not cover everything they think it does.
It’s important to understand what your homeowner’s insurance policy covers so you’re not caught off guard if something happens to your home. Knowing what it doesn’t cover will allow you to purchase additional coverage if necessary. With that in mind, the following are four things that your home insurance policy probably won’t cover:
1. Flooding
Standard home insurance policies exclude coverage for flood damage, so if your home is inundated with water from a storm or other flooding event, you will likely have to foot the bill for repairs and replacements yourself. If you live in an area prone to flooding, purchasing separate flood insurance is a good idea.
2. Earthquake damage
Homeowners insurance also typically excludes coverage for earthquake damage. If an earthquake hits and your home sustains damage, you will likely have to pay for repairs and replacements out of pocket. If you live in an area that’s susceptible to earthquakes, you may want to purchase separate earthquake insurance.
3. Mold
Mold is a type of fungus that can grow in homes and other buildings. It can cause property damage and pose health risks. Mold typically develops and spreads from moisture, so it’s often found in bathrooms, kitchens, laundry rooms, and basements. Because mold growth is so common, most standard homeowner’s insurance policies exclude coverage for mold damage.
4. Pest infestations
Pests like rodents and insects can damage your home and pose health risks. If your home becomes infested with pests, you will likely have to pay for pest control. You might not be bothered about paying for pest control; however, some pests, such as termites, can cause significant damage to your home.
A standard homeowners insurance policy will provide coverage against things like fire, wind, and snow damage, as well as vandalism, theft, and personal liability. However, it’s important to know what it doesn’t cover so you can plan accordingly. Contact us at Randy Lindsay today for more advice about the home-buying process.
by KatieM | Aug 25, 2022 | For Buyers
When you’re buying a home, closing day is when the sale becomes official. It’s when the title of the property is transferred from the seller to the buyer. For homebuyers, there’s nothing quite as exciting (and nerve-wracking) as closing day. What few buyers don’t realize is the closing involves much more than just signing on the dotted line.
Here’s a look at what you can expect on closing day:
- Pay the down payment: If you’re taking out a mortgage, then you’ll need to have the down payment available on closing day. The amount of the down payment will depend on the type of loan you’re getting and the purchase price of the home.
- Pay additional fees: When you buy a home, there are fees that must be paid in order to finalize the sale. These include the loan origination fee, the appraiser’s fee, the title insurance policy, and more. You’ll need to have the funds for these fees available on closing day in the form of a cashier’s or personal check.
- Provide proof of insurance: Before lenders will release the funds for the loan, they want to see proof that you have homeowners insurance in place. This is to protect their investment in case something happens to the property.
- Provide identification: You’ll need to show a form of identification, such as a driver’s license, on closing day. This is required to sign the loan documents.
- Sign documents: You’ll sign a lot of paperwork, including the mortgage note, the deed of trust (or mortgage), and other documents related to the loan. You’ll also sign all of the closing disclosure documents, which detail the final terms of the loan and the costs associated with it. Finally, you will sign the transfer of the deed, which officially transfers ownership of the property from the seller to the buyer.
- Receive the keys: Once the closing is complete and all the paperwork has been signed, the seller will hand over the keys to the property.
There’s a lot to do on the day of closing, but if you’re prepared for it, the process should go smoothly. It’s important you work with an experienced real estate agent and loan officer. They can guide you through the entire process of buying a property. For more information on buying a home, contact us at Randy Lindsay today.
by KatieM | Aug 11, 2022 | For Sellers
Selling your home is challenging! And if your home is on the smaller side, homebuyers might think twice about whether it will address all their needs. Even if it does, if your home feels small and cramped, it won’t attract a lot of buyers.
There are ways you can make your small home feel bigger and make it more attractive to potential buyers. Try these tips on how to make a small house feel bigger:
1. Use light colors when painting your walls
Light colors make a room feel more open and airier, which can give the illusion of more space. In contrast, dark colors often make a space feel smaller and more cramped than it is. If you don’t want to paint the entire home, paint an accent wall in a light color to make a statement and open up the space.
2. Let in natural light
Natural light is one of the best ways to make a small room feel bigger. If your home doesn’t have a lot of windows, consider installing skylights or solar tubes to brighten things. You can also use mirrors to reflect light and make the space feel more open.
3. Keep the clutter to a minimum
One of the quickest ways to make a small space feel cramped is to have too much stuff. Go through your belongings and get rid of anything that you don’t need or use. This will not only create space, but it will also make your home feel less cluttered.
4. Use multipurpose furniture
Furniture that serves more than one purpose is ideal for small homes. For example, ottomans with storage can be used as a coffee table or extra seating, while a Murphy bed can be folded up into the wall when not in use. Look for furniture that is both functional and stylish to make the most of your space.
5. Hang curtains high
Hanging curtains closer to the ceiling will make your windows look taller and your ceilings appear higher. This simple trick can give the illusion of more space and make your small home feel bigger.
Making your small home feel bigger doesn’t have to be difficult. By using these tips, you can create the illusion of more space. If you’re selling your home, making your small house feel bigger can attract more interested buyers. For advice on selling a house, contact us at Randy Lindsay today.
by KatieM | Jul 28, 2022 | For Buyers
If you’re looking for a new home, you have two main options: You can buy an existing home or you can build your house from the ground up. The decision of whether to buy or build a home is a big one. There are pros and cons to each option, and the right choice for you will depend on your specific circumstances. Here is a brief breakdown of the benefits and drawbacks of buying vs. building a home:
The Pros and Cons of Buying a Home
Buying an existing home tends to be more affordable. You can also buy older homes that have unique characteristics that you won’t find in newly built homes. You’ll have more options in terms of what neighborhood you prefer. Additionally, you won’t have to wait as long to move into a home that you’ve bought.
Some of the disadvantages to buying an existing home include it’s very hard to find the perfect home. You may not be able to find a home that perfectly suits your needs and preferences. You may also have to deal with expensive repairs or renovations, especially if you’re buying an older house or one that may not be up to code.
The Pros and Cons of Building a Home
When building a house, you’ll be able to design your home exactly how you want it. You can customize every aspect of your home, from the layout to the finishes. Because everything is brand-new, you probably won’t need to spend a lot of money on repairs or replacements for some time as well.
The biggest downside is that it takes quite a bit of time – at least several months – to build a new home. Additionally, it can be quite expensive to build a home from scratch. You’ll need to consider the cost of land, materials, labor, etc. Finding land on which to build can also be a challenge.
Buying vs. Building a Home
There is no right or wrong answer when it comes to deciding whether to buy or build a home. The best decision for you will depend on what kind of home you want, your budget, and whether or not you have time constraints. It all depends on your individual circumstances.
For more advice on buying or building a home, contact us at Randy Lindsay today.
