Debbie Caniff's Blog
How a home seller engages buyers is key. If a seller allocates the necessary time and resources to connect with buyers, he or she can boost the likelihood of enjoying a successful property selling experience.
Now, let's take a look at three tips to help you engage buyers and speed up the house selling journey.
1. Create an Effective Home Listing
An effective home listing can make a world of difference for any seller, at any time. Because if you can provide buyers with plenty of details about your home in your listing, you could make it easy for buyers to understand your house's full potential.
Typically, it is a good idea to write a clear, concise and simple-to-understand home listing. You should include accurate information about your home in your listing, and you should avoid stretching the truth.
You also may want to incorporate high-resolution images of your home into your listing. That way, homebuyers will know what to expect when they view your house in-person.
2. Upgrade Your Home's Curb Appeal
If your house boasts amazing curb appeal, buyers may be instantly attracted to your residence. And as a result, you may receive many buyer requests to view your house as soon as your residence becomes available.
To improve your house's curb appeal, you should mow the lawn, trim the hedges and perform other lawn care tasks. In addition, you should fix any cracked or chipped home siding.
You may want to hire lawn care and home improvement professionals, too. With these professionals at your side, you can quickly bolster your house's curb appeal.
3. Remover Clutter
If your home is filled with antiques, paintings and various knick-knacks, you may want to remove these items for the time being. In fact, if you have a clutter-free residence, buyers may fall in love with your house as soon as they walk through the front door.
Oftentimes, it helps to rent a storage unit before you list your home. If you have a storage unit, you can keep assorted personal belongings safe while you try to sell your house.
For those who want to eliminate excess items, you can list these items online or host a yard sale. You may want to consider donating any unwanted items to a charity or giving them to family members or friends as well.
Lastly, as you get set to add your house to the real estate market, it may be beneficial to hire a real estate agent. This housing market professional knows what it takes to engage buyers. Thus, if you are searching for help as you craft a home listing, a real estate agent is happy to assist you. On the other hand, if you have any concerns or questions as you navigate the home selling journey, a real estate agent can instantly respond to them.
Engage buyers throughout the home selling journey – use the aforementioned tips, and you could reap the benefits of a fast, profitable house selling experience.
One of the biggest benefits to buying a home is that of the tax savings for you. You own a home now, so there’s no more monthly rental payments going out the window. All of your mortgage payments are going towards your financial future. There’s many different types of tax breaks that you can get from owning your home. Many home improvement projects that allow you an extra tax break are hiding right in the fine print! Tax breaks are known as “incentives.” These incentives are essentially what help people to get important things in their homes done without having a order placed on them. There are some hidden things that you may not have known could be used as tax write-offs.
From putting solar panels on your home to replacing appliances, there are certain tax breaks that you can get for making your home more energy efficient. There are lifetime caps on these deductions, but on a certain year, you’ll be able to save some extra money on your taxes. Some of the deductions that you might be able to claim include:
- Air-source heat pumps
- Biomass stoves
- Central AC units
- Water heaters
- Certain energy-generation systems which include an array of things like water heaters, solar panels, fuel cell systems, wind turbines, and geothermal heat pumps.
You can deduct somewhere in the neighborhood of 30% of the cost of these improvements to your home. It doesn’t hurt to check on the updated standards that are introduced each year by the government. Your accountant can help you to understand your own deductions a bit more in-depth.
Modifying Your Home For Medical Needs
If you need to modify your home in order to accommodate medical needs, you may be eligible for a tax deduction. The modifications must not increase the value of your home and be medically necessary. If the doctor tells you to lose weight and you put in a home gym, you can’t deduct that. If you need a ramp put in your home for wheelchair accessibility, then that can be deducted. The cost of the modifications generally has to exceed 10% of your adjusted gross income, or 7.5% if you’re over the age of 65.
What’s Not Deductible
If you have done some major remodeling around your home, it’s sad to say that these improvements probably aren’t tax deductible. On the positive side, you will get a bigger return on your home when you do decide to sell it. This could help you to reduce any capital gains tax that you may have to pay on the sale of the home.
Remember that when you make improvements to your home, you’re doing it first for your own needs. Any tax write-offs that you may get are merely a bonus.
There are many ways you can make your house attractive to prospective buyers. Curb appeal goes a long way when it comes to first impressions. Your yard is one indication of the amount of time you’ve spent caring for your property in general. Buyers are undoubtedly attracted to homes that have been properly maintained so if you plan to sell your property, don’t neglect your landscaping. Just like washing the dishes and vacuuming floors positively impacts the look of your interior spaces, regular yard maintenance will do the same for your exterior spaces.
The following tips can help give you a good head start:
Plan to mow your lawn at least once a week. Use a weed wacker or edger to clean up around fences or play yards where your lawnmower might not reach.
Remove weeds, leaves and clippings from walkways and patios. After you mow the lawn, use a leaf blower or broom to remove lawn clippings from walkways. If you have a brick or stone pathway, pull the weeds that may grow between the pavers.
Create clean edges between your grass and planting areas. You don’t need to install special materials to achieve this look. Use a straight-edge shovel to create or refresh an existing edge then add a fresh layer of mulch or stone to complete the transition.
Overgrown plants can be hard for homebuyers to overlook. Neglected shrubs and bushes may block the view of your house, they may interfere with walkways, doors, or other plantings and often just look untidy. Invest in a pair of loppers or hand pruners that can handle the plantings on your property. If you are not familiar with how to approach trimming the shrubs or trees you have, be sure to do some research before you start cutting. A local nursery or landscaper can provide advice on how and during which season you should prune your plantings.
A smart way to attract prospective buyers is to improve the landscaping around your home. Consult with your real estate agent for more ways to improve your curb appeal and for local landscaping resources.
Purchasing a home in a seller's market may prove to be difficult. Fortunately, we're here to offer expert guidance to ensure you can find the best house at the lowest price, regardless of the present real estate sector's conditions.
Now, let's take a look at three tips to help you get ready to pursue a home in a seller's market.
1. Assess the Housing Market Closely
A seller's market likely features a shortage of high-quality houses. As such, you'll want to analyze the local real estate sector closely so you can identify your dream home faster than ever before.
Take a look at the prices of recently sold houses in your city or town. This information can help you understand the average price range for homes of all sizes in your area. You also should find out how long these homes were available before they sold to understand the current pace of the real estate market.
Furthermore, you should make a checklist of home must-haves and wants. Once you craft this checklist, you can assess the houses available in your city or town and map out your homebuying journey accordingly.
2. Get Pre-Approved for a Mortgage
In all likelihood, you'll need to act fast to acquire your ideal residence in a seller's market. If you have a mortgage in hand when you submit a home offer, you may boost your chances of receiving a "Yes" from a seller.
A home offer that is contingent on a buyer's approval for a mortgage often is far from ideal. If a seller receives this type of offer, he or she may be reluctant to accept it, as there are no guarantees a buyer will be able to obtain the necessary financing to acquire a home.
Comparatively, a buyer who gets pre-approved for a mortgage can enter a seller's market with a budget in hand. And if he or she finds a great house, this buyer can submit an offer without having to worry about getting financing at a later time.
To get pre-approved for a mortgage, you should meet with a variety of lenders. These financial institutions can teach you about a wide range of mortgage options and help you find the right mortgage based on your finances.
3. Collaborate with a Real Estate Agent
A seller's market can be tough to navigate, regardless of whether you're a first-time or experienced homebuyer. Thankfully, real estate agents are available who can guide you along the homebuying journey.
Typically, a real estate agent will learn about your homebuying goals. He or she then will keep you up to date about houses that meet your criteria, set up home showings and help you submit offers on residences. And if you ever have homebuying concerns or questions, a real estate agent is ready to respond to them at any time.
Prepare to buy a house in a seller's market – use the aforementioned tips, and you can move one step closer to acquiring your dream residence.
Perhaps one of the most challenging things about buying a home is saving for the downpayment. Collecting such a large sum of money can be difficult. The truth is that most buyers actually think that they need more than they actually do to buy a home. The downpayment doesn’t need to be a barrier to your path to homeownership. There are so many programs that offer low and even no down payment home loans. Read on to learn more about down payments and programs that can help you.
First, let’s look at what a down payment is and how it can help you. If you put 10% down on a $200,000 home that’s $20,000. The downpayment minus the purchase price of the home is $180,000, and that's how much your home loan will be. The more money you can put down on the house, the lower your home loan will be and the lower your monthly mortgage payments will be. A large down payment can indeed save you in the long term. If you’re looking to move into a home sooner rather than later, saving a considerable sum isn’t always possible.
Low Downpayment Mortgages
You need to decide what type of home loan you need by the amount of downpayment you’re willing and able to put down. Some benefits go along with making a down payment, but there are some negatives.
By making a substantial down payment you may despite your savings, leaving little money for emergencies. Your mortgage rate may not be affected by a large downpayment either. It can be hard to decide what type of loan to get and just how much you really can afford.
FHA loans are among the most popular type of home loans. The downpayment that’s required is just 3.5%. The requirements are simple, and you don’t have to be a first-time homebuyer to qualify.
The drawback to an FHA loan is that you cannot cancel the monthly mortgage insurance that comes along with it unless you refinance the home. Traditional mortgage insurance is canceled when you have built up 20% equity in the house, but this isn’t the case with FHA loans.
Another positive about FHA loans is that your credit score doesn’t have to be stellar in order for you to qualify. Some lenders approve FHA loans with credit scores as low as 580.
VA Home Loans
Buyers who have current or former military service status can qualify for this zero down mortgage. These loans are benefits to veterans and current members of the Armed Forces. While no downpayment is required, buyers may put down any amount they wish. The only requirements are that buyers be members of the military either currently serving for 90 days or two years of active duty service if not an active member.
The above options are great for those who can’t afford or don’t wish to put down large down payments but still hope to be homeowners.