It is commonly known that a lot of debt can stand in the way of getting a good mortgage rate. And owing too much could prevent someone from getting a home loan at all. But what if you’re in the process of trying to reduce your debt payments? For example, does debt consolidation affect buying a home?
When most homeowners commit to selling a house, they plan to walk away with a profit. Ideally, the asking price is more than what they bought it for, allowing them to pay off their remaining mortgage and have a down payment for their next purchase. But selling a house is not as simple as sticking a sign in the yard and accepting a check from a buyer.
Buyers expect to move into a house that is clean and empty. And those selling a home often add a thorough cleaning to their to-do list. Most get a head start on cleaning to get the home ready to put on the market.
Most renters have heard the adage “You’re throwing money away when you rent.” True, renters will never recoup the money they pay their property owner every month. On the other hand, homeowners contribute to a valuable long-term investment every time they make a mortgage payment. While owning a home has many benefits, the decision to rent or own requires careful consideration of what it will cost.
“It’s what’s inside that counts” is great advice. But when it comes to selling a home, it’s forgetting something important—curb appeal. A house might be absolutely gorgeous, but if it looks bad from the street, it could be hard to get people interested. A pleasing exterior can determine whether someone stops in to an open house or contacts the realtor, or drives right past.
Buying in a seller’s market can be stressful. With available inventory much lower than average, making an offer on a home comes with the fear of being outbid and rejected. While it is tempting for buyers to waive a home inspection in hopes the sellers will accept their bid, it’s important to consider the peace of mind a home inspection brings. Will you need to make big repairs down the road – or even sooner? Is the home safe to live in? And is it worth such a huge investment?
Can sellers get the price they want when selling a home on a budget? Absolutely! If the house is in great shape, upfront expenses to sell are nothing. If the home needs sprucing up, knowing how to prioritize improvements boosts the return on the investment.
There are a number of reasons why buyers might prefer homes that are not in a subdivision. Perhaps they would like a larger lot, prefer more privacy, or do not want to pay Homeowners Association fees. Even when they know what type of property they are looking for, it can be difficult to weed out subdivision homes when searching for available real estate. Working with an experienced real estate agent can help to pinpoint homes that match the buyer’s criteria and where to find them.
In today's real estate climate, homes sell quickly…and some sell well above the asking price. However, the trend of selling a home above the asking price stalled this spring. In the first quarter of 2023, buyers paid 99.9% of the list price for single-family homes in St. Louis. This summer, in the prime selling season, buyers probably will pay more than the asking price for homes in desirable neighborhoods. Homeowners who want to reel in big offers have three home pricing strategies to consider.
The internet is filled with “how to” advice for selling a home. But what about what not to do when selling a home? Sellers have a long list of things they feel they should take care of when they decide to sell. It is important to distinguish between what is likely to result in a quick sale at a good price, and what is simply not worth the time, effort, and money.
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