Deborah McLaughlin's Blog
Establishing a competitive initial asking price for your house often can be difficult. Fortunately, we're here to help you determine the ideal asking price for your home, regardless of the current housing market's conditions.
Now, let's take a look at three tips to help you set the right initial asking price for your home.
1. Study the Housing Market
How does your residence stack up against the competition? Evaluate the prices of comparable houses in your city or town, and you can narrow your home price range.
Furthermore, it helps to examine the prices of recently sold residences in your area. With this housing market data, you can find out whether you're preparing to enter a buyer's or seller's market. Then, you can map out your home pricing strategy accordingly.
2. Conduct a Home Appraisal
A home appraisal offers a valuable learning tool for a home seller. It allows a seller to receive expert insights into the value of his or her residence. As a result, a seller can get a property valuation from a home appraiser and use this figure to establish a competitive home asking price.
In addition, it may be beneficial to conduct a home inspection prior to listing your house. An inspection enables you to learn about any problems that may affect your house's value. And if you choose, you can use a home inspection report to prioritize assorted home repairs that may help you boost the value of your house.
3. Collaborate with a Real Estate Agent
If you're unsure about how to price your residence, there is no need to stress. In fact, you can hire a real estate agent to receive comprehensive support at each stage of the home selling journey.
A real estate agent is happy to help you assess your house and determine the right price for it. He or she is unafraid to be honest, and as such, will offer unbiased home pricing recommendations. That way, you can establish a competitive price from day one of the home selling journey and increase the likelihood of a quick home sale.
Also, a real estate agent goes above and beyond the call of duty to assist a home seller. This housing market professional will set up home showings and open house events to showcase your residence to prospective buyers. Plus, he or she will keep you up to date about offers on your residence. A real estate agent will even negotiate with a buyer's agent on your behalf to ensure you can maximize your home sale earnings.
Perhaps best of all, a real estate agent will respond to your queries throughout the home selling journey. If you ever have home selling concerns or questions, you can simply talk to your real estate agent and receive expert support.
Take the guesswork out of pricing your residence – use the aforementioned tips, and you can set a competitive price for your home in any housing market, at any time.
If you live in what's considered a "safe neighborhood", it's all too easy to be lulled into a false sense of complacency. Although the crime rate in your part of town may be low, the chances of living in an area that's totally crime free are very small.
Burglars and other would-be criminals are often opportunistic, so it pays to take precautions and avoid being an "easy target." Here are a few home security tips that can help protect your property, your family, and your valuables.
- Make it a habit to lock your doors at night and every time you leave the house for even a short period of time. If you're behind schedule and in a rush, stop and take one more minute to do a quick security check and -- while you're at it -- make sure hot appliances, such as stoves, ovens, and irons, are turned off.
- Even in the best of neighborhoods, bicycles that are left out in your driveway or front yard can and often do get stolen in seconds. When a bicycle gets stolen from your property, it can be a painful and expensive lesson. Fortunately, those types of losses can be avoided by having your family get in the habit of concealing bicycles in secure locations (like a garage or shed) or padlocking them to a stationary object, such as a tree or well-anchored fence post.
- Leaving a house key in your mailbox, under a welcome mat, or in a flower pot may seem like a good idea at the time, but those hiding places can easily be discovered by the wrong people.
- Allowing mail or newspapers to pile up while you're away for the weekend or on vacation is a tip-off to burglars that no one is home. Having a checklist that reminds you to suspend mail and newspaper delivery while you're away can help you avoid that risk. If you plan on being gone for the weekend, a trusted neighbor or friend can often be depended on to gather deliveries that might otherwise advertise your absence.
- Teaching your kids home safety and security measures at an early age is another vital component of crime prevention. They should be taught and reminded what to say and do if a stranger either asks for personal information over the phone or asks if they can come into the house. It's important for kids to know that they can and should be assertive with adults when protecting themselves and their home.
When looking at new homes, home buyers with high expectations can sometimes feel disappointed with their options. In a world where wood paneling, blue bathtubs, and wallpaper in every room have been popular trends it can feel like a lot of houses on the market are eyesores.
An important factor to keep in mind, however, is what parts of the home are merely cosmetic and which are structurally important. If a home is in a neighborhood you love with all the structurally important systems in excellent shape you can still add it to the top of your list. Poor design choices, or lack thereof, can always be changed down the line.
If you were hoping for a home with lots of character and detail but the neighborhoods you love are filled with ranches and builder grade homes don’t despair. There are plenty of style upgrades you can DIY yourself to give your home the luxe look you’re looking for.
Ready to make a dramatic first impression? Wow guests with just a few of these simple upgrades.
If your entrance opens up to a staircase you can create a drastic difference with just a small change. The newel post, that is the first main post of the stair railing, can be swapped out for something more ornate and classic. With plenty of options ranging from boxy posts with molding to something sleek topped with an ornate finial ball. Add more drama by choosing a contrasting color for the finial, newel cap, and railing from the main post and spindles.
A large mirror placed in an entrance or along the length of a hallway never fails to make a statement. Place a pier mirror between windows to create more light and dimension to the room. Create a built-in look by adding molding and wainscotting painted to match the trim of the room.
Add elegance by installing a ceiling medallion. Not just for the foyer they are also a great detail to add to your dining room, guest bedroom or home office. With a wide selection at your fingertips, you can pair one with a chandelier for a chic look or for a more modern flair coupled with a contemporary style pendant light.
For a truly classic look wall trim instantly makes any room look more luxe. Keep it simple with box shapes or opt for an art deco touch with more geometric shapes. Paired with other vintage elements wall trim brings a sense of refinement. If you’re aiming for a more effortless yet modern theme pair with a mix of mid-century modern and minimalist pieces.
When house shopping keeping an open mind as to what can be changed and what is imperative for a safe home makes all the difference in your shopping experience. Print out pictures for inspiration or create a board on Pinterest to keep the ideas flowing. As you look at each new house keep in mind how you can easily add these elements to create a more luxurious home with a quick weekend project.
If you plan to sell your house and need to declutter quickly, hosting a yard sale may prove to be ideal.
Ultimately, a yard sale enables you to get rid of excess items and earn extra cash at the same time. It also may help you connect with neighbors and lay the groundwork for long-lasting friendships.
When it comes to hosting a yard sale, it is important to sell the right items to the right buyers. By doing so, you can increase your chances of transforming an ordinary yard sale into a successful one.
Now, let's take a look at three items to sell during your yard sale:
If you're moving from a warm-weather climate to a cold region – or vice-versa – you should sell clothing that you no longer need.
Wash any clothes that you plan to sell as part of your yard sale. This will ensure all clothes are stain-free.
Furthermore, consider the buyer's perspective as you determine which clothing to sell. And if you find that some of your t-shirts, turtlenecks and other clothes are faded or ripped, you may want to dispose of these items altogether.
TVs, video game consoles and other electronics often prove to be popular yard sale purchases. As such, if you have excess electronics, you should sell these items at your yard sale.
If you plan to sell an old desktop or laptop computer, make sure to clear the hard drive. This helps eliminate potential cybersecurity headaches down the line.
Also, test any electronics to ensure they work properly. If electronics are battery-operated, install batteries to make it easy for yard sale shoppers to test these items. Or, if electronics require an electrical outlet, set up a power source that allows potential buyers to try these electronics.
If you are moving to a new house that already has a refrigerator, washer, dryer and other appliances, a yard sale provides an excellent opportunity to sell your current appliances.
Be realistic when you set prices for your home appliances. Check out the prices of brand-new and used appliances, and you can establish a price range for your appliances based on their age and condition.
In addition, don't hesitate to negotiate with buyers on appliance prices. Because if you fail to sell your appliances at your yard sale, you may be forced to move these big, heavy items on your own.
Those who understand which items to sell at a yard sale should have no trouble stirring up plenty of interest in any yard sale, at any time.
Lastly, if you want extra help as you plan for a yard sale, a real estate agent can offer expert assistance. This housing market professional can provide home decluttering tips to ensure you can sell the right items during your yard sale.
Start planning for a yard sale today, and you can move one step closer to decluttering and selling your house.
Saving for a down payment on a home is a long process that requires discipline and organization. But we all know that with so many other things going on in our lives it can be hard to spend enough time focusing on your budget.
Fortunately, there are several tools available to soon-to-be homeowners who want to keep track of their spending and make sure they meet their down payment goals. In this article, we’re going to talk about some of the best budgeting apps, websites, and other tools to help you keep yourself accountable so you can be living in your new home as soon as possible.
Why budget for a down payment?
If you’ve saved money in the past for a purchase without a budget you might be wondering why you should go through the effort of creating one now.
However, there are many reasons to have a budget, especially if you’re planning on making an investment as large as a home. Here are just a few:
Keeping an accurate budget will let you know almost exactly how much you can expect to save for a down payment
Budgeting helps you locate and cut out expenses that would be better used in your savings account
Budgeting will give you peace of mind along the road to saving for your down payment
Now that we’ve talked about the importance of making a budget, let’s talk about some of the best ways to get it done.
You Need a Budget, often shortened to YNAB, is one of the most useful tools for learning about and creating a budget. I don’t know about you, but I was never formally taught how to budget in school. But, it would have been a useful class to have!
YNAB combines budgeting tools with educational materials to help you save while you learn more about managing money. It can be easy to feel lost when it comes to learning about personal finance--that’s what makes YNAB so great.
Their basic precept is that you “give every dollar a job,” meaning there won’t be any money in any of your accounts or in your paycheck that doesn’t have a purpose. That doesn’t mean you can’t spend money on yourself every once in awhile, just that you’ll have planned ahead for moments so you can manage them.
You Need A Budget is available for Apple, Android, on Alexa and in your browser.
Saving with your spouse
Planning a budget yourself is complicated as it is. But planning together with a spouse can be even more confusing. However, there are ways to effectively make a family budget to save for a down payment.
First, you should both make sure you have individual budgets to make sure you know how much money from each of your incomes can go into savings. Opening a joint savings account and having a certain percentage of your paycheck direct deposited into that account is a good place to start.
From there, monitor your savings for a month to see if you need to alter this number, and try to stick to your monthly savings goal.