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So you’re ready to put your home on the market and to you, everything looks great. Unfortunately, much of the wear and tear on your home becomes unnoticeable when it is something you see everyday. While you may not think about the one light switch that doesn’t work or the chipping paint in the guest bedroom, now is the time to take a step back and look at your home with fresh eyes. When you decide to sell your home, the first thing you should do is make any repairs you can to save yourself money in the long run. Here are a few repairs to cross off so you can get the best deal for your home!

1. Paint Your Walls

Re-painting the rooms that need a fresh face is the cheapest way to update the appearance of your home. Consider using light, neutral colors to appeal to a broader group of buyers. If the room is too dark or has chipped or dirty paint, make it look brand new with a coat of paint. 

2. Make Minor Kitchen Repairs

Even if your kitchen isn’t large and spacious, a full renovation might not make sense financially. If your agent doesn’t advise you towards a renovation, consider making minor repairs instead. Paint what needs painted and install new fixtures where necessary. If your appliances aren’t operating properly or are in awful shape, you will need to replace them.

3. Update Your Bathroom

The first priority is making sure your bathroom looks clean. If the toilet looks old, replace the seat to give it a fresh new appearance. Replace any tiles that may be missing, clean the grout, and remove old wallpaper that may still remain. This is a room you should consider painting if need be to make it appear bright and clean.

4. Fix The Exterior

The outside of your home is the first thing buyers will see, so it is important that it looks good. Touch up the yard with sod as needed, remove any junk that may be in the yard, and make sure your fencing doesn’t have any missing parts or boards. Mow your grass and consider renting a power washer to make your siding look brand new. 

5. Maximize Lighting

The goal is to maximize light so you can maximize the appearance of space. Light does a great job of making rooms look larger than they are. Update your fixtures, ensure that your windows appear clean and new, and add mirrors across from light sources to reflect even more light. 

6. Ensure Functionality

Potential buyers are going to want everything to work. Do a full walk through of your home, checking all light switches, doorknobs, and locks. Repair or replace anything that doesn't work as it should. The less issues that arise during the buyer's home inspection, the better chance of you maximizing your profit during the sale!

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Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.

To determine if you should buy now or wait another year, you need to ask two simple questions: Do I think home values will be higher a year from now? Do I think mortgage rates will be higher a year from now?

What will homes cost in a year?

If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. Let’s take a house that’s valued today at $325,000 as an example.

If you make a 10% down payment ($32,500), they’ll end up borrowing $292,500 for their mortgage. Applying the projected rate of home price appreciation, that same house will cost $350,025 next year. With a 10% down payment ($35,003), you would then have to borrow $315,022.

Therefore, as a result of rising home prices alone, a prospective buyer will have to put down an additional $2,503 and borrow an additional $22,523 just for waiting a year to make their move.

What will mortgage rates be in the year?

Today, mortgage rates are around 3%. However, most experts believe they’ll rise as the economy continues to recover. Any increase in the mortgage rate will also increase a purchaser’s cost. The projections average out to 3.6% among these Freddie Mac, Fannie Mae, the National Association of Realtors , and the Mortgage Bankers Association forecasts, a jump up from where they are today.

What does it mean to you if home values and mortgage rates increase?

A buyer will pay a lot more in mortgage payments each month if both of these variables increase. Assuming a buyer purchases a $325,000 home this year with a 30-year fixed-rate loan at 3% after making a 10% down payment, their monthly principal and interest payment would be $1,233.

That same home one year from now could be $350,025, and the mortgage rate could be 3.6% (based on the industry forecasts mentioned above). That monthly principal and interest payment, after putting down 10%, totals $1,432.

The difference in the monthly mortgage payment would be $199. That’s $2,388 more per year and $71,640 over the life of the loan.

Add to that the approximately $25,000 a house with a similar value would build in home equity this year as a result of home price appreciation, and the total net worth increase a purchaser could gain by buying this year is nearly $100,000. That’s a small fortune. When asking if you should buy a home, many potential buyers think of the nonfinancial benefits of owning a home. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year.

We have some great LOCAL lenders who can guide you & help you get you approved to buy this YEAR! Get in touch & let's move! 

If you’ve never been through the home-buying process, some of the terminology can seem a bit foreign. One of the many phrases you might come across is earnest money.

When making an offer on a home, it is often encouraged to include earnest money with that offer. Earnest money is a payment of 1-3% of the offer price that is intended to show the seller you are really interested in their property. The amount isn’t set in stone and it usually depends on the market. So how is that money used?

When you make it to closing, that earnest money will be directed towards any closing costs, down payments, or other items you would typically pay out of pocket. It is treated as a credit toward any expenses that come up in the process, and is in no way a bribe for the seller.

There are a few situations where your earnest money will be refunded if you don’t make it to close. This usually requires a stipulation or clause to be added to your offer, and those can vary. Financing not going through, the seller not being able to close, and an unacceptable home inspection are all reasons that if you are protected in your contract, you should receive your earnest money back. If you do decide to back out of the contract with no real reason other than changing your mind, the seller may be able to keep it.

Thinking about adding a gallery wall? Here’s a step by step process to make it easy!

Start With Art

If you’re going for a modern look, choose a color palette and find art that fits within that. You can also try pieces that are from one collection, or ones that have a similar theme. If you want to make it appear like more of a long-time collection, use new and vintage prints and paintings.

Keep It Cohesive

If your images are going to vary, try to keep your frame choices cohesive - at the least, get them all in the same color. You will want any mat-boards to be the same color as well.

Make A Plan

Before adding any nails, lay your pieces out on the floor. Take a photo of your final arrangement so that you will know what you want it to look like up on the wall. You can also use painter’s tape to create outlines on your wall so you can imagine what the pieces will look like once they are up.

Use A Level

Making sure that first piece is hung correctly is one of the most important steps. If your reference point is crooked or slanted, the whole gallery can be thrown off.

Maintain Uniform Spacing

While the idea of a gallery wall isn’t necessarily to be perfectly organized, you don’t want it to appear messy. Leave the same amount of spacing between your pieces so the wall doesn’t appear haphazardly thrown together.

Use Measuring Tricks

Painter’s tape can be used in this step to mark off the amount of space you want between the frames. The tape will double as spacers between items as you hang the collection. Trying to use a measuring tape while hanging items can become frustrating, especially in small spaces.