Page not found – Leigh Buchan Harvey https://leighbuchanharvey.withwre.com Real Estate Thu, 07 Mar 2024 20:06:38 +0000 en-US hourly 1 Minimize Stress While Selling Your Home https://leighbuchanharvey.withwre.com/2024/03/07/minimize-stress-while-selling-your-home https://leighbuchanharvey.withwre.com/2024/03/07/minimize-stress-while-selling-your-home#respond Thu, 07 Mar 2024 20:06:38 +0000 https://leighbuchanharvey.withwre.com/?p=1877 Minimize Stress While Selling Your Home by Meaghan McGlynn After years of collecting furniture, plants, and memories, the thought of preparing your home to sell and moving to a new one can be daunting and stir up a lot of emotions. But selling your home doesn’t have to be stressful; here are a few tips […]

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Minimize Stress While Selling Your Home

After years of collecting furniture, plants, and memories, the thought of preparing your home to sell and moving to a new one can be daunting and stir up a lot of emotions. But selling your home doesn’t have to be stressful; here are a few tips to help make it easier.

Involve your agent early

The earlier you involve your Windermere Real Estate agent, the better they can set you up for success. When you reach out to them, they’ll be able to evaluate your home with their expert opinion based on their experience, and determine what needs to be done.

You and your agent will come up with a plan and timeline that works for you. After they do a comparative market analysis, they’ll have a good idea of what it will take to get the best price for your home. They may suggest you move out so the home can be professionally staged and easily accessed by potential buyers, or if that’s not an option, they will provide insights on what you can do yourself so you can live there while it’s on the market.

They may also see opportunities that are easy to implement, like improving the landscaping for curb appeal or minor projects that can increase your home value.

Working with a real estate agent will help move you through the process of selling your home more efficiently. If you don’t already have an agent and would like to be connected to one, click the button below.

Get an inspection & make necessary repairs

Some sellers may be concerned that their property isn’t in the best condition and that this will impact their home’s value. While some repairs may need to be done before putting your home on the market, you might be surprised that you don’t have to fix everything.

By getting a pre-inspection you’ll know what all needs to be done right away and what can wait. Your Windermere agent will be able to help you understand the inspection report and make decisions based on the condition of your home and the current market. Some repairs will be more important than others, things like a new roof or water heater can help new buyers feel more comfortable in their purchase while a trending remodel may interfere with the buyers own plans for the space.

Split up the selling process into approachable pieces

Once you have a vision for everything that you need to do to get your home prepared to sell, it’s a good idea to split the full project into smaller pieces that you can tackle one by one. You’ll want to determine what needs to be done first, like an inspection or small remodel, and what items can be done at the same time, like moving out and staging. If you take this approach, the final preparations will feel less overwhelming.

When you prepare well ahead of time, the actual process of selling will be less overwhelming, and you’ll have the confidence that you’ve done everything you can to make the most of the investment you put into your home.

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Simple Ways to Conserve Energy at Home https://leighbuchanharvey.withwre.com/2024/02/07/simple-ways-to-conserve-energy-at-home https://leighbuchanharvey.withwre.com/2024/02/07/simple-ways-to-conserve-energy-at-home#respond Wed, 07 Feb 2024 21:40:02 +0000 https://leighbuchanharvey.withwre.com/?p=1863 Simple Ways to Conserve Energy at Home by Meaghan McGlynn Whether you want to use less energy to reduce your carbon footprint or your monthly costs, there are plenty of easy ways to conserve the electricity and natural gas you’re using in your home. Energy conservation can be as simple as closing your curtains, changing […]

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Simple Ways to Conserve Energy at Home

Whether you want to use less energy to reduce your carbon footprint or your monthly costs, there are plenty of easy ways to conserve the electricity and natural gas you’re using in your home. Energy conservation can be as simple as closing your curtains, changing a light bulb, turning down your thermostat, or closing the fireplace damper. Many of the most inexpensive solutions quickly pay for themselves in conservation, which you ultimately benefit from when you get your power bill.

 

Do Your Chores During “Off Peak” Hours

One of the biggest ways you can conserve energy is to take advantage of “off-peak” hours. This is a step that everyone can take because it simply involves shifting your use of major appliances, such as ovens, washing machines, dryers, and dishwashers, to a time when the demand on the power supply is lower.

Check with your power company to see if they have peak hour rate changes and adjust your schedule as you can to do your laundry and dishes during the off-peak times.

And when it’s time, upgrade your large appliances to Energy Star products for the most efficient and use of your power.

 

Small Changes in Your Laundry Cycle

Another way you can save energy is by washing your clothes in cold water and only running full loads. This reduces the need for your machine to heat the water and has the double benefit of keeping your clothes in good condition for longer, further reducing your textile waste when you don’t have to replace your clothes as often.

To speed up the clothes drying process, add a dry towel or two to your machine to soak up excess moisture. Another option is wool dryer balls which not only help clothes dry faster, but you can also add drops of your favorite essential oils in place of single-use dryer sheets, which cause dust build up in your dryer vents and add to the landfill.

It’s also important to keep to a maintenance schedule with your washer and dryer. Clear out the lint trap after every load and make sure the dryer hose and vent are clear. Clean the filter on your washer once a month to keep things running efficiently.

More: Saving in the Laundry Room

 

Heating and Cooling Tips

Heating and cooling systems account for almost half of home energy consumption but luckily there are several easy ways you can reduce your home’s demand.

Conventional measures, such as setting back your thermostat, are effective at lowering your energy use and costs. In fact, the Department of Energy estimates you can save 10 percent on your power bill if you turn your thermostat temperature down by 10 degrees for eight hours a day. Here are a few ways you can reduce energy consumption and save money:

  1. Experiment with the temperature that you’re most comfortable with to determine if you can keep your thermostat set to a lower temperature.
  2. Set a schedule on your thermostat to change the temperature of your home when you’re asleep or not home, in the winter set it lower, in the summer set it higher.
  3. Close your blinds and shades to keep the air from escaping through the windows, and to keep the sun from heating up the air inside your home.
  4. Keep the fireplace damper closed unless you have a fire burning. Leaving the damper open can cause drafts and heat loss throughout your house.

It’s also important to keep your HVAC system clean and maintained. Change your furnace filter frequently, clear out any dusty ducts, and keep the air in your home clean with air purifiers. Doing so will enable your heating system to run more efficiently and be more cost-effective.

 

Update Your Lighting

It’s estimated that lighting accounts for 15 percent of your overall home energy bill, so another way you can conserve, other than turning the lights off when you leave a room, is by using energy-saving light emitting diodes (LEDs).

LEDs use about 90% less energy and last up to 25x longer than incandescent lightbulbs. They’re available in a number of shapes, sizes, and tones, making it an easy replacement for almost any bulb in your home. When shopping for LEDs, look for those with the Energy Star label on them—this ensures that you’re purchasing a product that has been approved by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE).

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How to Stay Safe at Home During a Power Outage https://leighbuchanharvey.withwre.com/2024/01/09/how-to-stay-safe-at-home-during-a-power-outage https://leighbuchanharvey.withwre.com/2024/01/09/how-to-stay-safe-at-home-during-a-power-outage#respond Tue, 09 Jan 2024 22:20:40 +0000 https://leighbuchanharvey.withwre.com/?p=1849 How to Stay Safe at Home During a Power Outage by Sandy Dodge A stormy night with the lights out can complicate things at home. But with the right preparation, you and your household can switch gears quickly and ride out the blackout period, however long it may last. Power outages can happen unexpectedly, so […]

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How to Stay Safe at Home During a Power Outage

A stormy night with the lights out can complicate things at home. But with the right preparation, you and your household can switch gears quickly and ride out the blackout period, however long it may last. Power outages can happen unexpectedly, so taking the necessary steps to have a plan in place should be a priority. We’ll walk through some essential steps to stay safe, calm, and cozy when the lights go out.

Lighting During a Power Outage

The first thing you’ll miss during a power outage is light. Make sure you have flashlights, candles, lanterns, and plenty of batteries readily available. Check your devices to see which size batteries they require and make sure you have all the necessary sizes on hand. LED lanterns are energy-efficient and will stay lit for a long time to provide some illumination during an extended blackout.

Emergency Kit

A well-stocked emergency kit is essential during a power outage. Make sure you have a substantial supply of non-perishable food, bottled water, and an assortment of basic utensils. Along with your emergency kit, keep a first aid kit handy to ensure you’re fully prepared for a blackout-related emergency.

Staying Warm During a Power Outage

Even though the lights in your home are out, that doesn’t mean you have to be uncomfortable as you wait for them to come back on. This is especially important if the power outage occurs during the colder months of the year. Keep plenty of blankets and extra layers of clothing close by to make sure you and your family stay cozy. If you have a portable heater that you plan to use, pay attention to the manufacturer instructions to avoid possible carbon monoxide poisoning.

Home Security

Home safety and security is vital during a power outage. Make sure your home’s security system’s motion-activation is still functioning properly, and if it has a backup system, check that too. Unfortunately, some burglars may see a blackout as an opportunity to take advantage of the low-visibility conditions. Lock your windows and secure the deadbolts on your door so you and your household can wait out the power outage in peace.

Preserve Food

Try to keep your refrigerator and freezer closed as much as possible. Use your perishable food rations in your emergency kit as a first option for a meal during the power outage and stick to other non-perishable food items in your pantry. Hopefully, the power will come back on soon enough and you’ll be able to resume your normal food preparation. But if you’re constantly opening the fridge and freezer while the power’s out, your food will spoil quickly, and you could have quite a mess on your hands. 7 Tips for Cleaning Your Appliances

Staying Entertained

Who says you can’t have fun during a power outage? With all your preparations in place, a blackout presents the chance for you and your household to enjoy some electronic-free activities. Have board games, books, arts and crafts materials, and decks of cards at the ready. If you have kids, plan some fun activities ahead of time that they’ll enjoy.

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Turnkey vs. Fixer-Upper: Pros and Cons https://leighbuchanharvey.withwre.com/2023/12/07/turnkey-vs-fixer-upper-pros-and-cons https://leighbuchanharvey.withwre.com/2023/12/07/turnkey-vs-fixer-upper-pros-and-cons#respond Thu, 07 Dec 2023 21:16:24 +0000 https://leighbuchanharvey.withwre.com/?p=1833 Turnkey vs. Fixer-Upper: Pros and Cons by Sandy Dodge The beauty of real estate is that different properties satisfy different needs. Although single-family homes are great for putting down roots, that may not be your motivation for purchasing your next home. If you’re looking to buy a property with the intent of renting it, both turnkey and […]

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Turnkey vs. Fixer-Upper: Pros and Cons

The beauty of real estate is that different properties satisfy different needs. Although single-family homes are great for putting down roots, that may not be your motivation for purchasing your next home. If you’re looking to buy a property with the intent of renting it, both turnkey and fixer-upper listings will cross your path during your home search. The main difference between the two is the condition of the property when you buy it. The right one for you depends on your needs as a homeowner and your goals as a landlord.

What is a turnkey property?

Turnkey properties are move-in ready from day one, which means they’re ready for you to rent them out immediately. Whether it’s a new construction home or a recently remodeled listing, these properties are in tip-top shape when they hit the market. Companies that specialize in renovating and selling these properties may also offer property management services, which may appeal to you if you’re looking for a more hands-off approach to managing your investment property.

What does fixer-upper mean in real estate?

Compared to turnkey listings, fixer-uppers are on the opposite end of the investment property spectrum. Buying a fixer-upper means you’re purchasing a home that needs repairs, remodeling, and some major TLC before it’s ready to rent out. These properties are diamonds in the rough; you’re betting on your ability to make high ROI home upgrades that will attract future renters and put money in your pocket.

 

As an example of turnkey vs. fixer-upper homes, a heterosexual Caucasian couple are remodeling their fixer-upper property. They are re-painting the interior to prepare the property for renters.

Image Source: Getty Images – Image Credit: StefaNikolic

Turnkey vs. Fixer-Upper: Pros and Cons

Turnkey Pros

Because they are move-in ready, turnkey listings have the potential to generate cash flow right away. Without any pending renovations in your way, you can open up the property to renters as soon as you take possession. They’re primed and ready to place in the hands of a property management company, which means you’ll get passive income without having to deal with day-to-day operational tasks.  You can also ask the listing agent for permission to use their photos, which can help your rental stand out amongst the competition in your area.

Turnkey Cons

So, what’s the catch? These benefits all come at a cost; turnkey properties typically cost more than fixer-uppers. You’ll pay a premium for the pristine condition and the buttoned-up appearance of these properties, so it’s important to have a strategy to save money for your home purchase. Also, handing off property management duties to a third party means you’ll have less control over the renting process. For more information on whether hiring a property management company is right for you, read the following blog post:

 

Fixer-Upper Pros

Searching for homes in less-than-pristine condition can give you a leg up as a buyer. Fixer-upper homes tend to have less competition from buyers than turnkey properties, since not everyone is willing to take on a major remodeling project. Talk to your agent about how to make the best offer. Given their lessened condition, you can oftentimes get a great deal on these homes with the right strategy. And the best part is, your remodeling efforts will increase the home’s value over time. The more effort you put in, the more the property will be worth, which means higher ROI potential.

Fixer-Upper Cons

Here’s the downside with fixer-uppers: tapping into their potential requires pouring money into the property. Exactly how much you can expect to spend on a fixer-upper varies by location, the size of the home, and the scope of repairs and renovations needed. Tackling some remodeling projects DIY can save you money, but if certain projects require more skilled hands, it may be best to hire a professional. And for all your planning, it’s impossible to predict the future. Projects may go over budget, material costs may rise, and the market may look completely different when you’re ready to rent out your property than it did when you bought it. For more information on buying a fixer-upper and the special financing options available to you, read the following blog post:

 

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What to Do After Moving Into a New Home https://leighbuchanharvey.withwre.com/2023/11/07/what-to-do-after-moving-into-a-new-home https://leighbuchanharvey.withwre.com/2023/11/07/what-to-do-after-moving-into-a-new-home#respond Tue, 07 Nov 2023 21:15:02 +0000 https://lbharvey-windermere.com/?p=1817 What to Do After Moving Into a New Home by Sandy Dodge Nothing beats the feeling of buying a new home. You’ve worked hard with your agent to find the right home for you, you’ve worked with the seller to finalize the deal, and you’ve signed all the paperwork to transfer ownership. Congratulations! Everything has led […]

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What to Do After Moving Into a New Home

Nothing beats the feeling of buying a new home. You’ve worked hard with your agent to find the right home for you, you’ve worked with the seller to finalize the deal, and you’ve signed all the paperwork to transfer ownership. Congratulations! Everything has led to securing your new home, so now that you’re officially moving, what do you do next? Here’s a quick guide to the move-in process to help you get settled into your new home.

Moving Day

The day you move, you’ll be juggling all kinds of timelines at once. You’re coordinating with movers, arranging for trucks to be picked up and dropped off, and making sure that nothing gets damaged in the process. The best thing you can do on this chaotic but exciting day is to be available. Being on hand at your new home to answer the mover’s questions will help speed up the process.

It helps to have a checklist of your important items to make sure nothing has gotten lost during the moving process. Check these items off one by one as the movers bring them in. Next, you’ll want to confirm that the utilities have been turned on and are ready for use. Check all lights, smoke detectors, appliances, CO2 alarms, your home security system, fire extinguishers, etc. Finally, install new locks and make sure your keys work properly.

 

A Black heterosexual couple sits smiling on the living room floor of their new home after moving in. There are boxes on the hardwood floor around them. The woman jokingly holds a piece of cardboard that arches over the couple imitating a roof over their heads.

Image Source: Getty Images – Image Credit: skynesher

 

What to Do After Moving In

  • Clean and Unpack: Before you start emptying your boxes, it’s a good idea to wipe down the surfaces to keep your items from getting dirty. A full deep cleaning of your home may not be in the cards just yet since there’s still plenty of moving to be done, which inevitably brings more dust and dirt in the house.
  • Childproof and Pet-Safe Home: If you’ve got little ones and/or pets, this is the time to set up their accommodations. Learn more about how to properly childproof your home so your kids can feel like it’s home sweet home from day one. When preparing to house your pets, keep in mind that some cleaning methods are more pet-friendly than others.
  • Setup and Organize: Now it’s time to get everything in its right place. Organize room by room, storing items in logical places where you won’t forget them as soon as they’re stowed away. The first rooms you’ll want to tackle are the bedrooms, bathrooms, and kitchen. These are the rooms you’ll need the most during the first few days in your new home, so having them put together will better position you to tackle the rest of the house. Getting your closets, bathroom cabinets, and kitchen drawers organized from the start will make for a more enjoyable moving process.
  • Update Your Information: You’ll also want to update your address everywhere it’s applicable as soon as possible, consider setting up mail forwarding to ensure you don’t miss any important mail in the meantime.

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Your Fall Home Maintenance Checklist https://leighbuchanharvey.withwre.com/2023/10/09/your-fall-home-maintenance-checklist https://leighbuchanharvey.withwre.com/2023/10/09/your-fall-home-maintenance-checklist#respond Mon, 09 Oct 2023 19:29:40 +0000 https://lbharvey-windermere.com/?p=1803 Here’s Your Fall Home Maintenance Checklist by Windermere Staff The leaves changing color is a sign that you may have some fall home maintenance tasks to tackle. With summer in the rearview and colder temperatures ahead, being proactive now will keep your home in pristine condition throughout the autumn days and nights. We’ve compiled a […]

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Here’s Your Fall Home Maintenance Checklist

The leaves changing color is a sign that you may have some fall home maintenance tasks to tackle. With summer in the rearview and colder temperatures ahead, being proactive now will keep your home in pristine condition throughout the autumn days and nights. We’ve compiled a list of several tasks to tackle around your home this fall.

Fall Home Maintenance Checklist

Clean Gutters

Water damage can spell serious trouble for homeowners. And with many climates experiencing additional rainfall this time of year, it’s time to prepare accordingly.

  • Start by ensuring that gutters and downspouts are functioning properly. (Don’t attempt this task yourself if you have a multi-story house with a steep roof; hire a professional instead.)
  • If your home is surrounded by trees, you may need to clean out your gutters a few times a year, especially in the fall. Check to make sure your gutters are flush with the roof and attached securely, repairing any areas that sag or sections where the water can easily collect and overflow.
  • Clean out the gutters and downspouts, checking that outlet strainers are in good shape, and are firmly in place. Finally, check that your downspouts direct water away from your house, not straight along the foundation.
  • If you haven’t already, you may want to consider installing gutter guards. Gutter guards create a barrier so water can get through to your gutters, but debris can’t, limiting gutter buildup (and the time you spend cleaning out your gutters). There are DIY installation kits available, or you can always hire a professional to install a gutter guard system.
  • If you have a sump pump under your house, now is a good time to test it. Run a hose to make sure draining water travels directly to the pump and that the pump removes the water efficiently and expels it well away from the foundation. For more information about how sump pumps work, go to howstuffworks.com.

Check for Leaks

The best opportunity to catch leaks is the first heavy rain after a long dry spell, when roofing materials are contracted. Check the underside of the roof, looking for signs of moisture on joints or insulation. Mark any leaks that you find and then hire a roofing specialist to repair them. Waiting for leaks to show up on your ceiling is a recipe for disaster. By then, it’s too late to act; insulation and sheet rock will have already sustained damaged, and you could have a mold problem on your hands.

Don’t forget the basement. Check your foundation for cracks, erosion, plants growing inside, broken windows, and gaps in the window and door weatherstripping.  Make sure to properly seal any leaks while the weather is nice. This will ensure materials dry properly.

Fall Home Maintenance: Pest Prevention

Rodents are determined and opportunistic, and they can do tremendous amounts of property damage (and endanger your family’s health). As temperatures cool, take measures to prevent roof rats and other critters from moving in. Branches that touch your house and overhang your roof are convenient on-ramps for invaders, so trim back branches so they’re at least four feet from the house. If you do hear scuttling overhead or discover rodent droppings in your attic, crawl space or basement, take immediate action.

Maintain Your Heating and Cooling Systems 

Preventative maintenance is especially crucial for your home’s heating and air-conditioning systems. Fall is a smart time to have your systems checked and tuned up if necessary. Don’t wait for extreme temperatures to arrive when service companies are slammed with emergency calls. Between tune-ups, keep your system performing optimally by cleaning and/or replacing air filters as needed.

If you have a wood-burning fireplace, a professional inspection and cleaning will help prevent potentially lethal chimney fires and carbon monoxide poisoning. Even if you don’t use your fireplace often, always keep a supply of dry firewood or sawdust-composite logs so you have a backup heat source in an emergency.

Insulate & Seal Your Home

Insulating your home is a cost-efficient investment, whether you’re trying to keep the interior warm in the winter or cool in the summer. Aside from more major improvements like energy-efficient windows and insulation, there are some quick fixes and projects that you can tackle DIY.

If an exterior door doesn’t have a snug seal when closed, replace the weather stripping; self-adhesive foam stripping is much simpler to install than traditional vinyl stripping. If there is a gap under the door (which can happen over time as a house settles), you may need to realign it and replace the vinyl door bottom and/or door sweep. Air also sneaks inside through electrical outlets and light switches on exterior walls. Dye-cut foam outlet seals placed behind the wall plates are a quick and inexpensive solution.

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A Guide to Permits and Regulations for ADUs, Sheds, & More https://leighbuchanharvey.withwre.com/2023/09/08/a-guide-to-permits-and-regulations-for-adus-sheds-more https://leighbuchanharvey.withwre.com/2023/09/08/a-guide-to-permits-and-regulations-for-adus-sheds-more#respond Fri, 08 Sep 2023 19:56:04 +0000 https://lbharvey-windermere.com/?p=1785 A Guide to Permits and Regulations for ADUs, Sheds, & More by Sandy Dodge The desire to maximize property value among homeowners is stronger now than ever. As the movement of short-term rentals, turnkey properties, and real estate investment continue to grow in popularity, it’s worth it to take a moment and understand the regulations that […]

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A Guide to Permits and Regulations for ADUs, Sheds, & More

The desire to maximize property value among homeowners is stronger now than ever. As the movement of short-term rentals, turnkey properties, and real estate investment continue to grow in popularity, it’s worth it to take a moment and understand the regulations that dictate a property’s potential. Understanding a bit more about the process for obtaining the necessary permits to build structures on your property will help you avoid getting bogged down in legalities when trying to complete these projects.

Do I need a permit to build an ADU?

Accessory Dwelling Units (ADUs) and other additional property structures have emerged as viable options for homeowners looking to maximize their property’s potential. These structures offer additional living space while creating opportunities to generate extra income or accommodate multigenerational family members. But before you break ground on your building project, here are some of the things you should keep in mind.

  • Permits and Regulations: No matter where you live, it is necessary to obtain the appropriate permit before you begin the construction process. Permits ensure that your project complies with local building codes and regulations. Though some guidelines are universal, keep in mind that every local area has its own specific building requirements for residential properties.
  • Code Compliance: Building codes aren’t just red tape for the sake of red tape; they exist to make sure that all buildings are safe. Whether you’re building the structures on your property DIY or hiring a professional to do the job, you are the one kickstarting the project, not your local municipality. But by having these codes in place, they can ensure that you’re adhering to the required standards of safety. Before you even start on your project, familiarize yourself with your local codes and regulations. Contact your local zoning department or building authority to learn more.
  • Applying for a Permit: The permit application process varies by location. Typically, you’re required to submit detailed plans for your project with documents that outline its scope, size, etc. Whether you submit architectural drawings, engineering plans, or some other form of detailed blueprint, be prepared for a thorough review on behalf of your local authority to make sure your project complies with the rules.

Whatever project you have in mind—ADU, garden shed, pool house—it’s important to become well-versed in the permits and regulations that will allow you to get it built hassle-free. Consult with local authorities to get the full picture of what’s required from you. Once you’ve checked all the boxes, you’ll be well on your way to maximizing the value of your property.

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How to Avoid the Most Common Buying/Selling Mistakes https://leighbuchanharvey.withwre.com/2023/08/08/how-to-avoid-the-most-common-buying-selling-mistakes https://leighbuchanharvey.withwre.com/2023/08/08/how-to-avoid-the-most-common-buying-selling-mistakes#respond Tue, 08 Aug 2023 18:49:57 +0000 https://lbharvey-windermere.com/?p=1775 How to Avoid the Most Common Buying/Selling Mistakes by Windermere Staff There’s nothing more exciting, rewarding, and fulfilling than buying or selling a home. However, it’s a complex transaction, and there are a number of steps along the path that can confuse even the most seasoned buyers and sellers. How can you avoid potential selling […]

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How to Avoid the Most Common Buying/Selling Mistakes

There’s nothing more exciting, rewarding, and fulfilling than buying or selling a home. However, it’s a complex transaction, and there are a number of steps along the path that can confuse even the most seasoned buyers and sellers. How can you avoid potential selling pitfalls and common buying mistakes? Look to your real estate agent for advice and keep the following guidelines in mind.

Common Buying Mistakes

#1 Review Your Credit Reports Ahead of Time

Review your credit report a few months before you begin searching for homes. You’ll have time to ensure the facts are correct and be able to dispute mistakes before your mortgage lender checks your credit. Get a copy of your credit report from Experian, Equifax, and TransUnion. Why all three? Because, if the scores differ, the bank will typically use the lowest one. Alert the credit bureaus if you see any mistakes, fix any problems you discover, and don’t apply for any new credit until after your home loan closes.

#2 Get Pre-Approved for a Mortgage

Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount). Pre-approval lets sellers know you’re serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend.

#3 Know What You Want

You and your real estate agent should both be clear about the house you want to buy. Put it in writing. First, make a list of all the features and amenities you really want. Then, number each item and prioritize them. Now, divide the list into must-haves and nice-to-haves.

#4 Account for Hidden Costs

In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Once you find a prospective home, you’ll want to:

  • Get estimates for any repairs or remodeling it may need
  • Estimate how much it will cost to maintain (gas, electric, utilities, etc.)
  • Determine how much you’ll pay in taxes monthly and/or annually.
  • Learn whether there are any Homeowners Association (HOA) fees associated with the property

#5 Get a Home Inspection

Buying a home is emotionally charged—which can make it difficult for buyers to see the house for what it truly is. That’s why you need impartial third parties who can help you logically analyze the condition of the property. Your agent is there to advise you, but you also need a home inspector to assess any hidden flaws, structural damage, or faulty systems.

 

A real estate agent advises his clients, a female interracial gay couple, about common buying and selling mistakes in real estate.

Image Source: Getty Images – Image Credit: svetikd

 

Common Selling Mistakes

#1 Avoid Getting Too Emotional About the Sale

Once you decide to sell your house, it’s time to strip out the emotion and look at it as a commodity in a business transaction. If you start reminiscing about all the good times you had and the hard work you invested, it will only make it that much harder to successfully price, prepare, and market the home.

#2 Make Repairs or Price Accordingly

Homes with deferred maintenance and repair issues can take far longer to sell and can be subject to last-minute sale-cancellations. These homes also often sell for less than their legitimate market value. If you simply can’t afford to address critical issues, be prepared to work with your agent to price and market your home accordingly.

#3 Don’t Overprice Your Home

Getting top dollar is the dream of every seller. But it’s essential that you let the market dictate that price, not your emotions or financial situation. Allow your agent to research and prepare a market analysis that factors in the value of similar homes in the area and trust those results. Overpricing your home often spells trouble and can leave significant money on the table.

#4 Use Quality Photos

The vast majority of prospective buyers today search for homes online first. In order to make a good first impression, you need a wealth of high-quality photos of your home and surrounding grounds. It’s also critical that you stage your home to generate maximum buyer interest.

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How to Negotiate as a Seller https://leighbuchanharvey.withwre.com/2023/07/07/how-to-negotiate-as-a-seller https://leighbuchanharvey.withwre.com/2023/07/07/how-to-negotiate-as-a-seller#respond Fri, 07 Jul 2023 18:22:08 +0000 https://lbharvey-windermere.com/?p=1765 How to Negotiate as a Seller by Sandy Dodge Once a buyer makes an offer on your house, your goals as a seller are within reach. But before you cross the finish line, the selling process will enter a crucial stage: negotiation. Knowing how to negotiate as a seller will give you confidence as you and your […]

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How to Negotiate as a Seller

Once a buyer makes an offer on your house, your goals as a seller are within reach. But before you cross the finish line, the selling process will enter a crucial stage: negotiation. Knowing how to negotiate as a seller will give you confidence as you and your agent work out a deal with the buyer. Various factors will dictate you and your agent’s strategy, but ultimately, you’re looking to get the best price with the best terms for your home.

How to Negotiate Home Price

The right offer looks different for everyone, so how should you negotiate with a buyer? It all starts with a fair market price. You can spend some quality time on your own researching home values to get an idea of what your home could be worth. But understanding the full picture requires professional expertise and the ability to conduct in-depth research—qualities you’ll find in your real estate agent.

Your agent’s Comparative Market Analysis (CMA) will competitively price your home based on comparable listings that have sold in your area recently, which sets the table for negotiations. Your agent will factor in the qualities that make your home unique and which selling points will help it stand out amongst the competition. Selling a home is a numbers game: the more interested buyers, the better your chances of getting the best offer for you. And the more interest you can generate, the better chance you have at starting a bidding war, which could drive up the price of your home significantly.

You have three possible responses to a buyer’s offer: accept it, reject it, or make a counteroffer. If you and your agent are on the same page early on, it will be easier to identify the right response to different offers. You’ll also want to connect with your agent regarding your flexibility on price. Remember that there are layers to each offer; there’s the price, of course, but there are also contingencies, moving timelines, and other additional factors at play. It’s the totality of a buyer’s offer that makes it the right one for you.

For example, one buyer may offer less than another but they are willing to waive contingencies to speed things up. A more streamlined purchase process may be more appealing to you, depending on how quickly you’re looking to move into your new home. In this scenario, that final number of the winning offer ends up looking a lot different than you may have previously thought, all things considered.

 

A real estate agent shows her female client how to negotiate as a seller. The agent is showing the clients charts of local real estate market conditions in a modern office.

Image Source: Getty Images – Image Credit: ChayTee

 

Real Estate Negotiation: Local Market Conditions

Your local market will also play a role in how you negotiate as a seller. If you’re selling your home in a balanced market, it’s important to approach negotiations with a realistic mindset. There probably won’t be a lot of competition among buyers and bidding wars aren’t as common. However, that’s all the more reason to make your home stand out amongst other listings in your area. Consider investing in projects that can boost home value like high ROI remodels. If you’re in the midst of a buyer’s market or a seller’s market, those conditions will determine who has leverage heading into negotiations, meaning you and your agent will need to work together to strategize accordingly.

Tips for Negotiating Real Estate

It pays to stay calm and remain flexible during this stage of the selling process. This helps to create a positive environment for negotiations and can better your chances of reaching an agreement that is mutually beneficial to both parties. And the best part is, your agent’s expertise takes the pressure off your shoulders; your availability and communication will help them get the deal done.

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How to Pay for a House https://leighbuchanharvey.withwre.com/2023/06/09/how-to-pay-for-a-house https://leighbuchanharvey.withwre.com/2023/06/09/how-to-pay-for-a-house#respond Fri, 09 Jun 2023 21:48:01 +0000 https://lbharvey-windermere.com/?p=1749 How to Pay for a House by Sandy Dodge Buying a home is, for many people, the largest financial undertaking of their lives. So, how do the numbers work? How is the price of a property converted into a transaction? Let’s take a look at how to pay for a house by focusing on some […]

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How to Pay for a House

Buying a home is, for many people, the largest financial undertaking of their lives. So, how do the numbers work? How is the price of a property converted into a transaction? Let’s take a look at how to pay for a house by focusing on some of the major components in a real estate purchase, namely the down payment, earnest money, and the mortgage payments required to successfully buy a home.

How to Pay for a House

If you have enough money available, it is possible to make an all-cash offer on a house. Most home buyers, however, save enough money to make a down payment that works for them and finance the remainder of a home purchase with a mortgage. Saving money to buy a house requires significant planning, but by being proactive, you’ll eventually put yourself in a position of higher buying power. Reducing debt, increasing savings contributions, and finding additional streams of income are all helpful ways of generating some extra cash to pay for a house.

Making a Down Payment on a Home

The down payment is a lump sum paid upfront by the buyer. The actual down payment amount varies by transaction, but it’s usually somewhere between 3% and 20% of the home’s purchase price. It’s one of the most important home buying costs, given how much planning goes into it. There’s a snowball effect with the down payment; once you figure out how much of a down payment you can afford, that will determine your home loan’s principal amount. The higher the down payment, the less risk for the mortgage lender. When buyers aren’t able to make a down payment of 20% of the purchase price, lenders will require they purchase additional mortgage insurance to protect the investment.

To get an idea of how different down payment amounts affect the financial structure of a home purchase, use our Home Monthly Payment Calculator by clicking the button below. With current rates based on national averages and customizable mortgage terms, you can experiment with different values to get an estimate of your monthly payment for any listing price.

 

A closeup of two men’s hands doing paperwork at an office desk as they figure out how to pay for a house. One man points to a calculator while the other takes notes.

Image Source: Getty Images – Image Credit: Perawit Boonchu

 

Earnest Money and Escrow

A real estate transaction is not your typical purchase. With so much money being moved around, it requires a little extra protection. This is where escrow comes in. Escrow ensures that your earnest money or “good faith deposit” gets properly disbursed according to plan during the home buying process, and holds property tax and homeowners insurance funds during the life of your home loan.

Making Mortgage Payments

Searching for a home loan is similar to searching for a home: there are many options, but based on what’s affordable and what works for your situation, you’ll eventually find the right one. When looking at the different types of home loans, you’ll compare the loans’ terms, interest rates, and conditions for repayment. For example, 15-year and 30-year mortgages are two of the most common home loan products. You’ll have lower monthly payments with a 30-year loan, but you’ll pay more interest over the life of the loan. With a 15-year mortgage, you’ll have higher monthly payments but pay less in total interest. Work with your mortgage broker to find the best home loan for you.

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