Sumathi Narayanan Realty's Blog
There are a lot of factors that can cause one house to sell quickly, while others in the neighborhood languish on the market for months.
In many cases, homes are scooped up because of a desirable location, a great school district, or irresistible curb appeal.
While all buyers have their priority items and wish lists in mind when shopping for a new home, final decisions are often based on psychological factors, emotions, and gut feelings -- not just cold, hard facts!
If you're getting ready to put your house on the market, here are a few strategies for improving your chances of making a fast sale:
Good feelings help sell houses. Prospective buyers are going to be drawn to your house if it looks impeccable from the street and well cared-for on the inside. When your home conveys a sense of pride in ownership and attention to detail, it sends a positive psychological message to house hunters. Very often, the power of suggestion can work in your favor when you're trying to make a favorable impression on potential buyers. Displaying fresh flowers, an appetizing bowl of fruit, or even table settings in your dining room or kitchen can help create a more inviting, appealing atmosphere. The right furniture arrangements can conjure up images of family gatherings, intimate conversations, or relaxing afternoons on the backyard deck.
Clutter creates discomfort. If you notice visitors side-stepping past your furniture or walking through your home as if they're navigating a maze, that's a sure sign your house is cluttered. Too much furniture or furniture that's too large and bulky for the space it occupies will make your rooms look and feel cramped. Creating a feeling of spaciousness and openness, on the other hand, helps bring out the best in all areas of your home.
Small touches make a difference. Displaying vases of fresh-cut flowers, an appetizing bowl of fruit in the kitchen, or colorful, new towels in the bathroom can help enhance the ambiance of your home. When conditions permit, the smell of fresh muffins, bread baking, or coffee brewing can infuse your home with a comforting and inviting fragrance. A house that looks and smells clean will also help create a positive multi-sensory experience for your visitors.
The right price can clinch the deal. Ideally, the price of your home should be based on comparable properties in your neighborhood and what they recently sold for. If your home is not in the same ball park, you could easily scare away qualified buyers who would otherwise be ready to make an offer. Working with a real estate agent can help ensure that you're house is competitively priced and that it doesn't linger on the market longer than necessary. Once you get caught in that cycle, the perceived value of your home and it's overall desirability can begin a downward slide. Take steps to prevent that from happening by having a comparative analysis done.
The cost of buying a house extends beyond a seller's initial asking price. In fact, there are many "hidden" costs that buyers need to consider as they decide whether to purchase a house, such as:
1. Closing Costs
There are various closing costs that a buyer may encounter before he or she finalizes a house purchase, including survey, appraisal and wire transfer fees. As such, it generally is a good idea to prepare for these costs prior to launching a house search. Because if you prepare for closing costs, you can ensure that you have the finances available to cover these expenses when you are ready to complete a house purchase.
Oftentimes, it helps to meet with banks and credit unions prior to starting a home search. These financial institutions can help you get pre-approved for a mortgage and teach you about home closing costs. Best of all, after you get a mortgage, you can start your home search with the financing you need to secure your ideal residence.
2. Property Taxes
Property taxes usually are assessed twice a year, and they vary based on state and county. However, if you learn about property taxes, you can map out your homebuying budget accordingly.
Real estate property tax information is part of the public record. Thus, you can access information about property taxes related to a particular home before you purchase it. And once you have this information at your disposal, you can use it to determine whether to move forward with a house purchase or continue your search for your dream home.
Utility bills vary based on the size of a home, its location and other factors. If you devote time and resources to estimate your utility expenses, you may be better equipped than ever before to make an informed home purchase.
To assess your potential utility costs, you may want to consult with a seller's agent. This professional may be able to provide you with insights into the current homeowner's utility expenses to help you budget appropriately.
It never hurts to hire a real estate agent to help you navigate the homebuying journey, too. A real estate agent can offer expert insights into closing costs, property taxes and other homebuying fees, as well as help you quickly discover your dream residence.
Let's not forget about the comprehensive homebuying guidance that a real estate agent can provide, either. For instance, if you are unsure about whether to submit an offer to purchase a house, a real estate agent can offer recommendations and tips to help you make the best-possible decision. Or, if you have concerns or questions at any point during the homebuying journey, a real estate agent is ready to respond to them.
For those who want to buy a house, it helps to learn about all of the potential costs associated with a home purchase. If you start budgeting for a home purchase today, you could accelerate your quest to find and buy your ideal residence.
Burglary is one of the more common types of crimes in the US today. Every day, many homeowners wake up or get back from work to discover their homes robbed. Given the financial, psychological, and physical damage that can happen, protecting your home is always ideal. You don’t have to be a victim. Put a security system in place to protect your home.
A range of home security systems are available. Deciding on which one could be a daunting task. To save you time and stress, here are some tips on how to select a security monitoring system for your residence.
Survey your home.
The first thing you need to do is to survey your home and assess its security needs. Start by counting the doors, windows, and other entry points. Check the distance of the doors and windows from where you intend to install the controls. Knowing this is essential as it will help you know the coverage of the wireless system or the length of the wires needed.
Know where to place the controls.
Place the controls somewhere only you will have quick access to. Many people prefer the control pads close to the main door. But that's not a promising idea because others can easily find it. According to security experts, it is best to place the control pads in an area that guests will not have easy access. A good example is your bedroom.
Consider the people who live with you.
If you intend to go with motion detectors, consider movement in your home during the night. If you have kids or older parents that move around at night or you have pets that pace the house at odd hours, it is highly likely that they might trigger the alarm and cause a disturbance. Triggering the alarm system that alerts the police department may cause them to respond to a false alarm from your home.
Research the Security company.
Reputation is key. Although there are security systems that you can install yourself, working with a licensed and trustworthy security company is an optimal consideration. They will recommend the perfect system for your home and even give you useful tips to protect better protect your home.
Be sure to ask the following questions;
How long have they been operating?
What services do they offer?
Do they carry out background checks on their employees?
Do they lease or sell their security systems?
Do they offer a warranty?
Finding the perfect home security system is vital because it assures you that your home is well protected. To get more information about the types of home security systems available, and how installing one can help you gain peace of mind, ask your agent for a recommendation for a reputable security service.
Buying a home is an extensive process that comes with a bit of a learning curve. For first time buyers, this process involves making mistakes and learning from them.
While we can never be 100% sure of our home buying decisions, there is a way to increase your chances of making the best choices when it comes to buying and maintaining your first home.
In today’s post, we’re going to do just that. We’ll take a look at some of the biggest things that homeowners wish they knew before buying their first house.
1. Forgetting to research the neighborhood
It’s easy to become so enamored with your dream home that you barely look beyond its fence. However, the neighborhood your home is in can have a huge effect on your daily life. Having local parks, safe sidewalks to walk on, and road infrastructure that doesn’t drive you crazy on your daily commute are all important aspects of choosing the right home.
2. Getting pressured into making a decision
Many times, a seller will want to portray their home as being highly sought after to encourage higher and more frequent offers. Similarly, you may find that your own family has time constraints and want to make a quick decision to buy a home.
It’s when we’re under pressure that we can make choices that we aren’t happy with in the long run. So, in these situations, make sure you don’t make any snap judgments on a home. If it seems like you’re being pressured into making a decision without enough time to consider all of the possibilities, there’s a good chance you should pass on this opportunity.
3. Forgetting that you might someday have to sell this home
Sometimes homes can be difficult to sell due to things like their location and surroundings. For instance, a home that is remote or one that is located in low-scoring school districts may not matter to you if you don’t plan on having children. But, they likely will be important to a lot of your potential buyers when it comes time to sell the home.
This lesson also holds true for what you do with your home once you buy it. Making renovations or design choices that won’t appeal to the average buyer can make your home more difficult to sell and harder to get top dollar for.
4. Didn’t consider all financing options
There are several steps and several options when it comes to financing a home. Not only are the several mortgage lenders to choose from, but there are also many different types of loans available.
While there may not be one “right” decision when it comes to financing your home, it’s a good idea to do your homework and browse carefully all of the lenders and mortgage types.
Consider ways to increase your credit score or save for a higher down payment before buying if possible, so that you can secure the lowest interest rate possible.
As more millennials leave consumer and student debt behind, they enter the housing market. Being savvy researches in the information age, this demographic has begun to fuel the housing economy. Many purchase homes as singles, with a partner or even a friend or group of friends.
Where is Preferred?
Unlike past generations where singles preferred the city and couples with children headed to the suburbs, millennials like what they like. Whether your home is in the city or the suburbs, you can appeal this group of buyers. Millennials, in general, prefer experiences to expenses. Large open concept rooms with plenty of space for entertaining makes a carefully renovated home the perfect place for a young single, pair or tribe to purchase the perfect gathering place.
When looking for the perfect home, millennials seek simpler styles that gel with their minimalist mindset. Because they care more about experiences than possessions, they look for living spaces that let them enjoy time with friends and housemates and don’t require too much upkeep.
If you’re considering upgrades or renovations to your home before putting it on the market, consider opening a smaller kitchen into the larger living space. Connect bedrooms to en suite baths for multi-adult households. Beef up the outdoor entertainment area with room for a firepit, speakers for music and a place for lawn games. Millennial buyers like to share their space with friends and family and are very keen on comfort. If you have any questions about how to place your home for sale in an area that you think may be a great spot for this target homebuyer, feel free to reach out.