Sure, it's possible to find a home with a fully equipped exercise gym, an Olympic size swimming pool, or a couple tennis courts on the premises, but who wants to spend that kind of money! Fortunately, there are house features you can look for that will help you stay in shape without having to win the lottery first! Here are a few ideas to consider when searching for the ideal home:
When you’re looking to sell your home for a great price, there are a few things that you can do to give the sale an edge. All of the ideas you’ll find below are inexpensive yet effective for sprucing your home up fast.
Do you have an old, lumpy sofa, an old, unsightly lamp, or a scratch on the wall? You can easily cover these things up without making any major changes. Use a slip cover, some touch-up paint, or even new bedding to help brighten any room or furnishing. You could even consider adding new window treatments or additional lighting to assist in giving your home a refreshed look. As a rule of thumb: If it looks old and you can’t remember when you last replaced the item, you should probably replace it.
With the right paint, you can accentuate or downplay the features of a room including fireplaces and windows. Portions of the room that would otherwise be lost can be highlighted with the right use of color.
Do you have low ceilings or small rooms? You can make the room seem larger just by making use of vertical lines or using the higher spaces in the rooms of your home. Easily mount shelves on your walls in order to store things to give the room the illusion of having more space.
Your home can look like a new place when you take the time to deep clean the area. Don’t miss out on any part of any room. Use a little elbow grease and pay attention to neglected areas like the pantry, laundry room, and refrigerator. Get rid of any odors in the home. Potential buyers will definitely notice if things don’t smell right upon entering the house. You can use natural cleaners made of baking soda, vinegar, and lemon juice in order to freshen up everything from rugs to toilets. This stage of the makeover process may take you some time, but it’s definitely worth it.
Adding in little things before an open house can also make a big difference. Put some fresh flowers on the table. Light some candles. Fluff the pillows. Take the time to remove unnecessary items from the counters and tables as well. The less cluttered the home looks, the better. Buyers like open spaces, but they also like to be able to see themselves in the space and you can help them to do just that.
So many great features that make up many clients’ dream homes can actually be a hindrance in selling a home down the road. While certain features in a home may be attractive to you, remember that all buyers are not looking for the same thing. Beware of the following perks and how they can affect your plans to sell a home in the future.
While having schools close in the neighborhood is a plus, not everyone sees it that way. A nearby school is fantastic if there are young children in the family, however, if a buyer doesn’t have young children, living near a school could be seen as a hinderance. Not only will there be an excess of foot traffic in the area, but there will be a lot of traffic, in general, each school day as buses and cars head to and from the school. The extra noise factor from the school may also turn off some buyers.
Some people love to be in the heart of the action. A bustling neighborhood with tons of shops and restaurants and constant activity can be the life that you or someone you know is looking for. If you buy a home on one of these main stretches, but, it could be a hard sell should you decide to move. These property locations are targeting a specific kind of buyer and it could be hard to find them. Unless you live in a strictly urban area, you may want to think twice about the property location. Not only could it be a hard sell later, but you as an owner may get sick of the constant action very quickly.
If you live in a place where the weather is always warm and a pool is a requirement, then putting a pool in your home makes sense. In more variable temperature regions, a pool is not always the best idea. Pools require a lot of maintenance and can be a significant investment. Think of how much of the year a pool is actually usable in your area. The biggest issue with swimming pools is that while they are a luxury, they really don’t add value to the home. In some cases, a pool can end up detracting value and interest from a property.
While a large backyard can be attractive, not every homeowner wants to care for such a large amount of space. These large yards can take a significant investment of both time and money to maintain. A large yard attracts a certain type of buyer. Not that you can restructure property lines, but know that bigger isn't always better when it comes to a home’s outdoor space.
Ready to submit an offer on a house? Not so fast. First, you'll want to consider a few key questions, including:
1. Can I afford to buy a house?
If you find a house you like, make sure you can afford the monthly mortgage payments. By doing so, you may be able to avoid costly, time-consuming problems down the line.
Ultimately, getting pre-approved for a mortgage can make a world of difference, particularly for a homebuyer who is ready to submit an offer on a home.
With pre-approval for a mortgage, a homebuyer will understand exactly how much money is at his or her disposal. As a result, this homebuyer can avoid the temptation to overspend on a house.
2. Should I submit a "lowball" offer?
For many homebuyers, it may seem like a good idea to submit a "lowball" offer on a house. But doing so may be problematic for a number of reasons.
If you submit a lowball proposal, a home seller is unlikely to take your bid seriously. As such, this home seller may dismiss your offer and move on to other proposals quickly.
In addition, a lowball offer may cause you to miss out on the opportunity to acquire your dream residence.
When you locate the perfect residence, there is no need to leave anything to chance. If you submit a fair proposal that meets or exceeds a home seller's expectations, you can avoid the risk of losing your dream house to a rival homebuyer.
3. How much should I offer for a residence?
We've already established that a lowball offer is rarely, if ever, a good idea. Now, you'll just need to determine what differentiates a fair proposal from a lowball one.
A fair proposal accounts for the needs of both a homebuyer and home seller. It should be based on the current state of the housing market as well as the condition of a home.
For instance, if you're operating in a buyer's market, there is likely to be a broad assortment of homes available. This means a home seller may need to lower his or her expectations due to the sheer volume of quality residences currently on the market.
Don't forget to study the prices of recently sold homes in a particular city or town too. This housing market data will help you better understand how a residence you're considering stacks up against comparable houses so you can submit an appropriate offer.
4. Do I need a real estate agent?
A real estate agent will take the guesswork out of buying a home, and for good reason. This real estate professional can help you prepare an offer and will negotiate with a home seller on your behalf. That way, you can streamline the process of going from homebuyer to homeowner.
Hire a real estate agent before you submit an offer on a house – you'll be glad you did. A real estate agent will guide you along the homebuying journey and ensure you can secure a great house at a price that fits your budget.
Home values continue to rise. Many people use their home equity in order to get a bit more financial security. The home equity line of credit can have many different benefits for you. From home improvement projects to a much-needed vacation, you can get the funds that you need for whatever you wish. Turn to your home equity with some careful thought, however. You could end up owing more than your home is worth, which defeats the purpose of tapping into your home equity to begin with.
Your home equity can be a good thing to tap in to if you’re not planning on spending like crazy. Maybe you just want a little extra cash on hand for emergencies. You’ll be prepared for anything unexpected. This could be a smarter decision than just blowing a bunch of money on a vacation, for example.
Some smart things that you can use your home equity for include:
These ideas are investments that can help you to achieve other goals. You should be sure that you’re able to pay the money back. These projects or financial endeavors are much more suited to smart spending than just randomly spending money, buying a car, or other things that will put you in serious debt.
As the market changes, the amount of home equity that you’ll have to tap into does as well. The state of the housing market can actually dictate to you how much money you’ll be able to get. If the market isn’t good, you could end up in the negative financially, so do your research.
There are a few ways that you can draw from your home’s equity. The first rule that you should understand is that you cannot borrow more than 80% of what your home is worth. Take a full remortgage your home, giving you the full 80% amount that your home is worth in order to take a lump sum. Alternatively, you can take a cash-out refinance where you set the amount of money you’d like to take out of your home’s equity as you refinance the home. You can also take out what’s called a “home equity line of credit,” which allows you to use the amount of your home’s worth as a credit card of sorts. You borrow money as you need it.
The biggest issue with refinancing is that of planning. It’s important to know why you’re refinancing and what you’re planning on doing with the money. Used wisely, home equity can really be a great financial tool.
