Debbie Caniff's Blog
If you add your house to the real estate market but fail to garner buyers' attention, now may be a good time to revamp your home pricing strategy. Otherwise, your home may remain on the housing market for many weeks or months before it finally sells.
Generally, there are several factors you need to consider to determine if you have priced your residence appropriately. These factors include:
1. The Current State of the Housing Market
The demand for houses in your city or town may have far-flung effects on your property selling experience. For example, if there is significant demand for houses in your area, the real estate sector favors sellers. Or, if there is minimal demand for homes in your city or town, the real estate market favors buyers. And if you do not price your house appropriately in a seller's or buyer's market, you may struggle to stir up interest in your home.
It often helps to price your house based on the current state of the real estate market. By doing so, you can establish an initial asking price for your home that falls in line with buyers' expectations.
To assess the current state of the housing market, evaluate the prices of recently sold residences in your city or town. You should find out how long these houses were available before they sold, too. Once you have this housing market data in hand, you can determine whether a seller's or buyer's market is in place and price your house accordingly.
2. Your Home's Age and Condition
The price you originally paid for your home is unlikely to match your house's current value. Fortunately, if you evaluate your residence's age and condition, you may be better equipped than ever before to set a competitive initial asking price for your home.
Sometimes, it helps to conduct a home appraisal before you list a residence. An appraisal enables you to receive a property valuation that accounts for your house's age and condition, along with various real estate market factors. Then, you can use this valuation to determine the optimal initial asking price for your house.
3. Your Home Selling Timeline
If you are in a hurry to sell your home, you should establish an initial asking price that will grab buyers' attention. On the other hand, if you can afford to be patient during the home selling journey, you should not settle for a subpar offer to purchase your house.
When it comes to establishing a home selling timeline and determining how to price your residence, hiring a real estate agent may be beneficial. A real estate agent understands what it takes to sell a home, regardless of the current housing market's conditions. As such, he or she will work with you to ensure you can price your home competitively.
For those who want to streamline the home selling journey, it typically helps to start with a competitive initial asking price for your house. If you consider the aforementioned factors, you can boost the likelihood of pricing your home appropriately from day one of the house selling journey.
Finding a new home that will meet your family's current and future needs requires a clear mental picture of what you want and your desired lifestyle.
While you may not be able to get every item on your new-house wish list, knowing your priorities is the first step to realizing your goals.
For many growing families, having a spacious eat-in kitchen is a high-priority. Here are a few reasons a large kitchen can enhance the enjoyment of your new home.
Entertaining guests: If you like to host holiday gatherings, birthday parties, and other celebrations at your home, a spacious kitchen lends itself to everything from food preparation and buffet setup to mingling with your party guests. Kitchens are a focal point of social gatherings, and can play a major role in the success or failure of your parties, dinners, and other events.
Increased efficiency: Without enough counter space and room to comfortably move around, meal preparation can turn into more of a chore than a pleasure. Ideally, there should be unobstructed paths between key work stations, including the stove and kitchen sink (You'll want to have a clear path when you're ready to drain cooked pasta or carry pots of water to the stove.) Generally, the more people you're serving, the more crucial it is to have plenty of space for working, staying organized, and keeping track of cooking times. Since food preparation is both an art and a science, it requires planning, proper execution, and the freedom to express your creativity.
Family harmony: There are at least two ways that ample kitchen space can contribute to harmonious family relationships. First of all, gathering in the kitchen at mealtime, every day, helps foster good communication between members of your family. When you're facing each other and sharing stories, plans, and concerns at the kitchen table, it's easier to know what's going on in the lives of your spouse and children. A roomy kitchen also helps keep the peace in your family. For example, when more than one person is getting a snack, making a meal, or cleaning up, having a little extra space can help keep family members from bumping into each other and feeling cramped. Conflicts sometimes arise, especially among siblings, when there's a shortage of personal space. On busy days when everyone is rushing in opposite directions, often at a hectic pace, having enough counter and floor space in the kitchen can help minimize drama and keep family traffic flowing smoothly.
Whether you're entertaining dinner guests or baking cookies for a school bake sale, the process is sure to go more smoothly when you have sufficient counter space and a work flow area that helps gets things done in the shortest period of time.
House hunting can be enjoyable but becomes overwhelming pretty quickly. After looking at many different houses, they can all start to look the same. It’s hard to remember what homes had what features. In order to make a right decision on which home to make an offer on, you’ll need to remember the details of each house. Read on for tips to help you house hunt like a pro.
Keep Track Of The Homes You Have Looked At
Whether you’re doing simple online searches or touring open houses, it’s easy for your mind to get jumbled as to what you have seen. It’s a good idea to keep a record of homes with their addresses as to where they are located, the color of the house, and the desirable features contained within the home. This way, you can have an overall picture of what you want.
Know What Features Are Important
You should make a list of everything you’re looking for in a home before you even start searching. Include things like:
- The price range
- How big of a house you’re looking for
- How many bedrooms
- How many bathrooms
- Additional features like walk-in closets
- Eat-in kitchen or dining room
- What type of home you’re looking for
- How many stories you want the home to be
You can then branch off from the essentials on the list adding other desirable features in a property like a pool, a jacuzzi, a large backyard, or a fireplace. Then, you should make a list prioritizing what is the most important to you in your home search. Things like the number of bedrooms and the size of the home will be a higher priority than a jacuzzi tub.
Look At Your Commute
One of the most significant factors in finding a home is how far it is from your workplace. The closer you are to work, the less stressful your life will be. If you take the train or a bus to work, it may be easier to live close to a station or stop. On the flip side, to be closer to work what are you sacrificing? Are you close to schools, parks, stores, and other regularly visited spots? See what locations suit your lifestyle.
Review What You’ve Looked At
Once you have done your research and decided what you need and want, it’s time to make comparisons. Look at the prices of each home and see what they have to offer for the money. Once you decide the price and amenities are on par with your original wishlist, the house is a good candidate to put an offer on.
3 Wymon Way, Lynnfield, MA 01940
Buying a house should be a fast, simple process. However, problems sometimes can arise that prevent a homebuyer from discovering his or her dream residence.
Ultimately, there are many factors to consider before you purchase a house to ensure you can avoid myriad homebuying hurdles, and these factors include:
1. Your Home Needs
No two houses are identical, and much in the same vein, no two homebuyers have the same definition of the perfect residence. As such, a homebuyer should consider his or her dream home demands prior to kicking off a home search.
Making a checklist of home "must-haves" and "wants" is paramount. With this checklist in hand, a homebuyer will be able to refine his or her home search and map out the property buying journey accordingly.
It may be helpful to consider your day-to-day activities as you evaluate where you want to live too.
For example, if you work in the city, you may want to find a house that is located near public transportation. Comparatively, if you have kids, you may want to consider houses that are located close to top schools.
2. Your Budget
You know that you want to buy a house. On the other hand, you still have no idea how much money is available to ensure you can make your homeownership dreams come true.
When it comes to buying a house, it pays to meet with banks and credit unions. With pre-approval for a mortgage, you'll know precisely how much you can spend on a house.
To get pre-approved for a mortgage, set up consultations with several potential lenders. Then, you can learn about all of your mortgage options and select a mortgage lender that matches or surpasses your expectations.
3. Your Homebuying Timeline
Are you looking to buy a home as soon as possible? Or, can you afford to take a wait-and-see approach throughout the homebuying journey?
Examine your homebuying timeline and plan ahead as much as possible. By doing so, you can boost your chances of finding a terrific house and minimize stress as you browse the real estate market.
Regardless of your homebuying timeline, it always helps to work with a real estate agent. This housing market professional can take the guesswork out of searching for a residence and ensure you can discover a stellar house at a budget-friendly price.
Typically, a real estate agent will keep you up to date about new residences as they become available. He or she also will provide honest, unbiased homebuying recommendations and respond to any homebuying concerns and questions.
Let's not forget about the support that a real estate agent can provide during homebuying negotiations, either.
A real estate agent is happy to negotiate with a home seller on your behalf. That way, he or she can help you secure a great house without having to worry about paying too much.
Streamline the process of acquiring your ideal residence. Consider the aforementioned factors, and you can keep things simple as you proceed along the homebuying journey.