10 Tips for Buyers and Sellers
10 Tips for Buyers and Sellers
Winter weather has traditionally been known to chill the real estate market, which potentially gives buyers leverage when home hunting. When Spring arrives, the weather isn't the only thing that heats up. Buyers and sellers motivation to go out and find a suitable home increases dramatically in the warmer months. When snow recedes and flowers emerge, curb appeal is boosted, which can be very favourable for buyers and sellers.
If you're thinking of putting your home on the market or are interested in a new home, here are some tips to help get you ready.
5 Tips for Buyers
1. Make sure your credit is good.
Your credit history has a major impact on home purchase financing, especially for first-time home buyers. Get a credit check so you can correct any errors, and take measures to boost your credit score if needed.
2. Get pre-approved for a mortgage.
Early in your search, meet with a mortgage lender who will take a look at your credit history, savings, investment statements, and your current financial situation. Pre-approval gives you leverage when making an offer and allows less stress when you are looking for a home by knowing what you can afford.
3. Set your budget.
Whether you're paying in cash or financing your purchase, establish a budget helps you focus your search on great homes within your price range.
4. Write a list.
Since buying a home is a process of elimination, not a process of selection, jotting down a list of your ideal home's must-haves and deal breakers is essential. This will help you to narrow your search so that you can find a home that fits your current and future needs.
5. Consider resale value.
The average homeowner lives in their home for 9 years. While you may purchase your home as a long-term investment, keep in mind that you may need to sell it one day. Consider the homes resale value when you're looking at properties.
5 Tips for Sellers
1. Clear the clutter.
First impressions of a home are critically important for increasing the interest in a sale. Get rid of accumulated clutter before you put your home on the market; the rooms will look not only tidier but more spacious as well. The best way is to tackle one room at a time, and divide into 3 piles: keep, donate, and toss.
2. Pack it up.
Get your non-essentials that you want to keep boxed up (think out of season clothes or sporting equipment). Consider packing up sentimental and valuable items, as it can help prevent your valuables from damage while allowing potential buyers to better picture themselves living in your home.
3. Research the local market.
Knowing how much the homes in your neighbourhood are selling for and how long they stayed on the market can help you gauge your home's value and estimate a timeframe for the sale.
4. Make repairs & improve the property.
Boost your home's curb appeal by doing minor repairs and improvements inside the home and out. Tackle any necessary repairs, paint your walls a neutral color and replace light fixtures or appliances that are damaged or out of date. Make sure to do a thorough clean - when your home is dirty, potential buyers can be put off even though issues may be only superficial.
5. Be realistic.
While it's good to get a feel for the local market, be realistic about the selling process. Having realistic expectations for your home sale will help to relieve some of the stress of selling.
Most buyers now look online for properties for their first step in the buying process. Having a good online presence for your home is becoming more and more of an asset now.
Finding a realtor with a strong online presence will help in the buying and selling process.
If you're thinking of buying or selling call us at 519-331-3746, and remember to Put Sean on Your Lawn!