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  Deciding To Buy A Fixer-Upper If you are a fan of HGTV, you have probably seen your fair share of fixer-uppers. TV shows tend to make everything look easy, especially home flipping or updating. So how do you decide if a fixer upper is worth your time? Here are a few scenarios where diving in usually pays off. 1. The upgrades are simple. First, you need to find out what types of issues are going to need updated and recognize your personal skills. If a home has foundation, electrical, or plumbing issues, chances are those aren’t easy fixes unless you are a contractor yourself. When it comes to cosmetic fixes, there is usually less of a safety risk so if you’re willing to do the work, those are the houses for you. 2. When the numbers pencil out. You need to ask yourself if all the work you will put in is going to make the property worth as much or more after you’re finished. Sit down and run the numbers, and decide if you are willing and able to stick to a budget. If you’re handy an...

  How To Handle Downsizing Moving itself always has the tendency to sound stressful, but adding downsizing to the mix can seem daunting. There are certain challenges that come with downsizing, but that doesn’t mean it has to be more stressful. By changing the way you approach downsizing and moving, the experience can actually be a positive one. Downsizing gives you the freedom to get rid of things that no longer have a place in your life, freeing up room for what you love and what brings you happiness. Here are the steps to follow to downsizing your property and keeping your sanity. 1. Take an inventory of what you own. Often, we don’t realize what we have. It is easy to feel like we don’t have a lot of ‘things’ when those items all have a place in our current home, but many of those items may just be filler. Taking an inventory of what you have will force you to look at a list of what all you own, helping to you reflect on what you actually care about keeping. Using this inventory...

  REPAIRS TO MAKE BEFORE SELLING YOUR HOME 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 kitch...

  What To Expect During Inspection When you are buying a home for the first time, you’re likely to run into many processes that you haven’t been through before. One of the most important parts of the purchasing process is your property inspection. It may seem daunting, but if you know your role and the role of others, it can make the process less stressful. Here is what you should expect for each role in the property inspection process. The Buyer Your job will be to learn about the property during inspection. Before the inspection, you should prepare by looking over the property disclosures or any other building department documentation that you’ve received up until that point. Make a list of any questions or concerns you have about those documents and address any issues that the listing agent may have pointed out. Ask your agent what the typical inspections are for your market and make sure you set aside a few hours for the inspection. The Buyer’s Agent Your agent should be with y...

  How Homeowners Are Ditching The Tub Homeowners are looking for large, high-tech bathrooms with sleek color palettes and finishes, according to the Houzz 2017 Bathroom Trends Report. On average, homeowners spent $21,000 to remodel bathrooms exceeding 100 square feet. That cost drops to about $12,300 for homeowners with smaller bathrooms that are less than 100 square feet. When it comes to age demographics, those aged 55+ spent the most on remodeling their bathroom since the majority of them reported that they don’t plan to sell their home anytime soon. Meanwhile, millennials, who see their home as a short- to medium-term residence, are choosing to invest less in bathroom renovations. Out of the 4 percent of millennials who renovated their bathrooms this year, most spent $9,200 to 12,500. Homeowners of all ages were willing to shell out the extra dough for showers (42 percent), cabinets and vanities (40 percent), faucets (35 percent) and countertops (35 percent). On the ...

What Is the Top Financial Benefit of Homeownership? There are many financial and non-financial benefits of homeownership, and the greatest financial one is  wealth creation . Homeownership has always been the first rung on the ladder that leads to forming household wealth. As  Freddie Mac   explains : “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” Odeta Kushi,  Deputy Chief Economist  at  First American , also  notes : “The wealth-building power of homeownership shows that home is not only where your heart is, but also where your wealth is…For the majority of households that transition into homeownership, the most re...

Why Should You Stage Your Home To Sell? As the real estate market turns sluggish, you may have to take steps to set your home apart from others. It won't be enough to just put out a for-sale sign and wait for potential buyers. One way that homeowners can sell their homes more speedily is by home staging, which can have the added benefit of pushing up the selling price of your home. Basically, staging consists of arranging your home's décor and furniture in such a way as to make the home have more of an appeal to prospective buyers. In some cases, home staging can be a relatively simple and inexpensive undertaking. You may be comfortable with just cleaning up your home and removing all day-to-day items. On the other hand, you may want to consider investing a more substantial amount of time and money into your home staging project. The main benefit of investing in landscaping, painting and new furniture is that a potential buyer will come away from a visit to your home with a be...

Don’t Forget to Budget for Closing Costs When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the  closing costs  required to get a mortgage is just as important. What are closing costs? According to Trulia, “ When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more .” For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing costs could be greater. As mentioned above,  closing costs are typically between 2% and 5% of your purchase price.  Trulia gives more great advice, explaining: “There will be ...