Michael Galvin's Blog
Selling a home for the first time can be tricky. In fact, first-time home sellers often make mistakes that prolong the home selling process. Perhaps even worse, these errors may cause a home seller to miss out on opportunities to optimize the value of his or her residence.
Now, let's take a look at three common mistakes that first-time home sellers make, as well as ways to avoid these problems.
1. Setting an Unrealistic Initial Asking Price
Although you might have paid a hefty sum for your house a few years ago, what your home was worth then is unlikely to match its current value. However, if you set an unrealistic initial asking price for your residence, you risk alienating dozens of potential buyers.
Before you set a price for your house, it pays to perform plenty of housing market research. That way, you can see how your home stacks up against the competition and price it based on the current real estate sector's conditions.
Furthermore, you may want to conduct a home appraisal prior to listing your house. Following a home appraisal, you'll receive a property valuation to help you establish a competitive price for your residence.
2. Failing to Provide Full Details About Your House
No home is perfect, and a home seller who withholds information about his or her residence risks wasting precious time and resources. To better understand why this may be the case, let's consider an example.
If a home seller fails to include information about a faulty heating and cooling system in a home listing, a buyer will be unaware of the problem. A buyer then may submit an offer on this house that a seller accepts. But during a home inspection, a property inspector likely will discover the defective heating and cooling system, which leads the buyer to rescind his or her offer. And at this point, the seller will have to restart the home selling process from square one.
When it comes to selling a home, it helps to be honest. If you provide full details about your residence, you can help a buyer make an informed decision and reduce the risk of that a purchase agreement will fall apart after a home inspection.
3. Choosing an Ineffective Real Estate Agent
A real estate agent should have a seller's best interests in mind. As such, this housing market professional will collaborate with a seller throughout the home selling journey to ensure a seller can optimize his or her earnings.
Unfortunately, not all real estate agents possess the same skills. But if you evaluate a variety of real estate agents, you can increase the likelihood of finding one who matches or exceeds your expectations.
Employ a real estate agent with a proven reputation. And if you're uncertain about whether a real estate agent can help you achieve your home selling goals, it usually helps to request client referrals from this housing market professional.
Streamline the process of selling your home – avoid the aforementioned first-time home seller mistakes, and you can boost your chances of enjoying a quick, profitable home selling experience.
House windows have a profound influence on your home's interior and exterior. It'snot just that your house windows help to determine what your neighbors and passersby feel and perceive about you and your home. The windows at your home help to shape your perceptions of the world.
Ready for a more narrow or broader outdoor house view?
Look out your windows and see bright, colorful images and your mood could improve suddenly. Try this. Head to the back of your house and peer through the back or kitchen window. It doesn't matter whether it's sunny or raining. If your house windows are large, stylish and clear, you'll take in a lot.
Your larger house windows can make the world feel big. That, in turn, could make you feel as if you're open to bigger opportunities. If you're a smart, risk taker large windows could reflect the real you. This where windows, personality and space marry. It's this effect that interior designers like some of China's modern and futuristic architects aim for.
Newly designed homes by these visionary architects invite light into a house from above. Instead of traditional windows that are installed horizontally throughout a house, glass is placed in houses to offer vertical clear views.
Great windows to invite more space, light and warmth in your home
The point is that a house's warmth is derived, in large part, from the amount of space that glass or windows offer and how much light windows invite inside a house. Here are windows that provide a broader view of the outdoors. These windows also upgrade your home's interior and exterior style:
- Windows with two sashes - These windows are found in offices and homes. Instead of opening outward, these windows slide up and down when they are opened or closed.
- Double windows - With this option, two standard windows are installed side by side. Bathrooms, bedrooms and kitchens are rooms where you can find double windows.
- Casement windows - If you love large, long windows, you may adore casement windows. Choose these windows if your house is near beautiful natural settings.
- Awning windows - Similar to casement windows, awning windows are long windows that are installed side by side. Openings in these windows might be at the side, top or bottom.
Gift yourself with beautiful outdoor views
If you've ever lived in a house with large, beautiful windows, you know how much windows influence mood and reflect your real personality. You know that white borders on large clear, glass panes can make a house feel classy, can even remind you of sweet times that you spent at your parents' or grandparents'.
Windows also remind you of the importance of beautifying your house exterior. The last thing that you want is to look out of gorgeous windows at a yard full of weeds or a yard filled with clutter. After all, what you look at throughout the day is having as big an impact on you as the windows that you look at the world through.
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Getting a mortgage is one of those things that everyone seems to have quite a bit of advice about. While people surely have good intentions, it’s not always best to take the buying advice of everyone you meet. Below, you’ll find the wrong kind of mortgage advice and why you should think twice about it.
Pre-Approvals Are Pointless
Getting pre-approved for a mortgage can give you an upper hand when it comes to putting in offers on a home. Even though a pre-approval isn’t a guarantee, it’s a good step. It shows that you’re a serious buyer and locks you in with a lender so they can process your paperwork a bit more quickly when you do want to put an offer in on a home.
Use Your Own Bank
While your own bank may be a good place to start when it comes to buying a home, you don’t need to get your mortgage from the place where you already have an account. You need to compare rates at different banks to make sure you’re getting the best possible deal on a mortgage. You’ll also want to check on the mortgage requirements for each bank. Different banks have different standards based on down payment, credit scores and more. You’ll want to get your mortgage from the bank that’s right for you and your own situation.
The Lowest Interest Rate Is Best
While this could be true, it’s not set in stone. A bank with a slightly higher interest rate could offer you some benefits that you otherwise might not have. If you have a lower credit score, or less downpayment money, a bank offering a higher interest rate could be a better option for you. Low interest rates can have some fine print that might end up costing you a lot more in the long term. Do your research before you sign on with any kind of bank for your mortgage.
Borrow The Maximum
Just because you’re approved for a certain amount of mortgage doesn’t mean that you need to max out your budget. It’s always best to have a bit of a financial cushion for yourself to keep your budget from being extremely tight. When life throws you a curveball like unexpected medical bills or a job loss, you’ll be glad that you didn’t strain your budget to the end of your means. Even though the bigger, nicer house always looks more attractive, you’re better off financially if you’re sensible about the amount of money you borrow to buy a home.
- Kitchen: Depending on the age of your kitchen, an entire remodel will bring the most value. Updated kitchens can sell the home itself. It’s the number one update homebuyers are looking for. Updating the cabinets, counters, appliances, and floor are all key bigger updates. Updating the paint and adding a backsplash will add style and again value. Small updates are a necessity including the faucet and lighting. For quicker and less expensive updates shop at discount stores and repurpose cabinets, if possible.
- Bathroom(s): Bathrooms are another important update for increasing your home’s value. They endure a lot of wear and tear with use multiple times a day. Small updates such as light fixtures and faucet(s) are short money for good value. A complete update will bring the most value but will dependent on the amount of space available. Adding a serene and luxurious feel to the master bathroom will be a great benefit to the value. Even making other bathrooms in the home more modern and spa like will greatly increase the value.
- Front Yard: The front yard is the first thing that anyone sees of your home. And your front yard can distinguish you from other homes in the neighborhood. Adding a fresh coat of paint or stain to your porch and stairs, adding flowers and new mulch, and keeping your grass green and luscious can greatly add to the curb appeal of your home and ultimately the value.
- Popcorn Ceilings & Wood Paneling: Completely removing popcorn ceilings and/or wood paneling will add tremendous value to a home. Both features are extremely outdated and unappealing. Removing those will give your home a more modern look and feel. If looking to sell, this update will make your home much more appealing to buyers. Having to update those two things will seem very daunting to a homebuyer that is looking for a modern home.
- Paint: Remove that wallpaper and add a fresh, bright paint of coat to any room that could use it. Wallpaper often times makes rooms look dated and can peel and tear, especially in bathrooms. Even if you do not have any wallpaper, a fresh coat of paint is a simple and inexpensive way of updating a room and making it look new and modern.