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5 Tips for Organizing and Decluttering

5 Tips for Organizing and Decluttering

We’ve all seen or heard about Marie Kondo’s KonMarie method about tidying up and decluttering your home (unless you’ve been living under a rock). Spark a new joy in your life by clearing out the clutter to while you are at home! 1. Hone in 

How Pumpkin Spice Lattes and Home Values Are Connected

How Pumpkin Spice Lattes and Home Values Are Connected

Having access to a good cup of coffee is more important than ever, and pumpkin spice lattes are an even bigger reason to visit a coffee shop at this time of the year. What does all of this have to do with home values? There’s 

5 Things Every First-Time Seller Should Know

5 Things Every First-Time Seller Should Know

First-Time Seller “Setbacks” (and How To Prepare For Them Now)

Think back to when you bought your current home: There were things that happened during the transaction that sent you into a panic, but ended up being a totally normal part of the process of buying a house. In hindsight, you can probably even laugh at how issues that seemed like a setback (like that big inspection report) were resolved relatively quickly. 

Now that you’re ready to list your home for sale, you’re about to go through something similar. Selling a home for the first time isn’t as easy as sitting back and having your Realtor rake in offers. Just as when you bought your home, there will be matters that require your immediate attention, appointments that have to be made, and issues that just might trigger unexpected emotions. 

While this sounds overwhelming, these situations all are perfectly normal — and preparing for them now will make selling your home go so much more smoothly. Here are the five most common things to expect when you’re a first-time seller.

First-Time Seller “Setback” #1

You’ll Experience Surprisingly Strong Feelings About Your Home

How to Prepare:

Leave Emotions Out of the Transaction

It’s time to book a therapy appointment, get back in your favorite stress-relieving exercise routine and have your best friend on speed-dial. Even when you’re excited about your new home or have been counting down the days to move out (and away from a neighbor), selling your home is a life change that will stir up emotions you didn’t expect to have. 

Whether you’re nostalgic about the memories and question if you really want to sell, or a potential buyer’s comment about renovating the kitchen you loved dearly makes you deeply angry, take a breath, calm down and hold off on sudden decisions. Emotional reactions might make you feel better in the short-term, but the feeling won’t last. Always think of the big picture and your goals before changing course. 

First-Time Seller “Setback” #2

Your Home Will Need A Lot of Staging

How to Prepare

Make Sure Your Home Is Impeccable to Begin With

Even if you feel very confident in your taste in decor, anything that fills your home is a potential distraction for buyers. It’s nothing personal, though it feels that way. Your Realtor is going to likely suggest a thorough staging to show your home in the very best light to a buyer, so you can get the best offers. 

Any work you can do on your home now will save you the time and cost of what the stager will have to do later. Go ahead and do the big decluttering project you’ve been meaning to do, rent a storage unit for that big sectional that takes up your living room, organize your wardrobe so your closet looks picture-perfect, and start selecting neutral paint colors for every room. Hire cleaners to do the kind of deep-clean you would do if you were moving out of a rental.

First-Time Seller “Setback” #3

The Buyer’s Inspector Will Turn Up Many Issues

How to Prepare

Get a Pre-Inspection

You remember the short novel-length inspection report that you received from your inspector back when you bought your home, right? And how you hired the most thorough inspector you could find? That’s what a potential buyer is going to do with your home.

Acting now to address any issues will save you the headaches that pop up when a potential buyer looks to negotiate based on an inspection report. A pre-listing home inspection will turn up things you should repair, potential problems you might not even know about, and gives you a clear answer on the exact condition of your home. Concerned about cost? Your Realtor will advise on the changes worth the money, and what’s okay to leave as-is.

First-Time Seller “Setback” #4

Low-Ball Offers

How to Prepare

Realize That Not Everyone Sees Your Home Like You Do

There’s a difference between an offer that is slightly below asking price and one that’s tens of thousands below that. The latter will trigger a strong emotion (so go to #1 on this list) but will ultimately be rejected outright without thought. However, if you are fixated on low offers, a change in perspective might be in order.

Recognize that low offers are real-life feedback about your home. If there is something about your home that a range of buyers considers an issue, it’s an opportunity to address that. Or, this might be a time to address your expectations. If the offers aren’t far off from your price and you’re disappointed because you envisioned offers far above asking, recognize that fantasy isn’t reality. While you see all the potential value in the home you’ve loved, others see the property as it is: A property. 

First-Time Seller “Setback” #5

A Buyer Wants Many Concessions and Contingencies

How to Prepare

Understand That EVERYTHING Is Negotiable

Whether we’re talking about lower offers, a back-and-forth about making changes based on an inspection report or a potential buyer who comes back with multiple contingencies, understand that you have power as a seller (even if your area is a buyer’s market). You can always say no, or you can always counter. 

Basically, everything is a negotiation. It might help to think of this as an ordinary transaction — like buying a car — instead of selling your home. Just as you wouldn’t even think about buying a car without negotiating, a buyer is going to do the same on this even-larger-ticket item. And just as an auto dealer wouldn’t accept just any offer, you don’t have to give in on every ask. You also have the advantage of a great Realtor who will advocate on your behalf every step of the way, so don’t hesitate to let them know your comfort level at any time.

In the end, selling your home for the first time is an opportunity to learn about real estate. The more you know before you sell, the bigger the advantage you’ll have in the end. You’ll be calm, focused on decisions that benefit your sale, and even more knowledgeable about what concerns you can bring to your Realtor.

Top 10 Myths That Trip Up First-Time Home Buyers

Top 10 Myths That Trip Up First-Time Home Buyers

If you’re thinking about buying a home, you’ve probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home-buying process for easy entertainment. With so much information 

What You Need to Know About Those Online Home Value Estimates

What You Need to Know About Those Online Home Value Estimates

It’s something every homeowner does when they decide to sell:  Obsessively check the estimated home value of their property on the websites of the big real estate “brands.” Opendoor, Zillow and Redfin have made it easy to give an idea of what to expect when 

20 Ways to Save Money and Stretch Your Household Budget

20 Ways to Save Money and Stretch Your Household Budget

These days, it seems like everyone’s looking for ways to cut costs and stretch their income further. Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month.

Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals.

  1. Refinance Your Mortgage – For prime borrowers, mortgage rates are at or near historic lows. Depending on your current mortgage rate and the terms you choose, refinancing could save you a sizable amount on your monthly payments. There are fees and closing costs associated with refinancing, so you’ll need to talk to your lender to find out if refinancing is a good option for you.
  1. Evaluate Your Insurance Policies – If it’s been a while since you priced home or auto insurance, it may be worthwhile to do some comparison shopping. Get quotes from at least three insurers or independent agents. Try bundling your policies to see if there’s a discount. And inquire about raising your deductible, which should lower your premium.1
  1. Bundle Cable, Phone, and Internet – You can also save money by bundling your cable, phone, and internet services together. Shop around to see who is willing to give you the best deal. If switching is too much of a hassle, ask your current provider to match or beat their competitor’s offer.
  1. Better Yet, Cut the Cord on Cable – In many cases, you can save even more if you cancel your cable subscription altogether. An antenna should give you access to the major stations, and many of your favorite shows are probably available on-demand through a less expensive streaming service subscription.
  1. Revisit Your Wireless Plan – You can often save by switching from a big brand to an independent, low-cost carrier. If that’s not feasible, ask your current provider for a better deal or consider downgrading to a cheaper plan.
  1. Adjust Your Thermostat – Turning your thermostat up or down a few degrees can have a noticeable impact on your monthly heating and cooling costs. To maximize efficiency, change your filters regularly, and make sure your windows and doors are well insulated.
  1. Use Less Hot Water – After heating and cooling, hot water accounts for the second largest energy expense in most homes.2 To cut back, repair any leaks or dripping faucets, install low-flow fixtures, only run your dishwasher when full, and wash clothes in cold water when possible.
  1. Lower Overall Water Consumption – To decrease your water usage, take shorter showers, and turn off the sink while you brush your teeth and wash your hands. If you don’t have a low-flow toilet, retrofit your current one with a toilet tank bank or fill cycle diverter. And irrigate your lawn in the morning or evening to minimize evaporation.3
  1. Conserve Electricity – Save electricity by shutting off your computer at night and installing energy-efficient LED light bulbs. You can minimize standby or “vampire” power drain by utilizing power strips and unplugging idle appliances.4
  1. Purchase a Home Warranty – While there is an upfront cost, a home warranty can provide some protection and peace of mind when it comes to unexpected home repair costs. Most plans provide coverage for major systems (like electrical, plumbing, and HVAC) and appliances (such as your dishwasher, stove, or refrigerator).
  1. Outsource Less – From lawn care to grocery shopping to minor home repairs, we pay people to do a lot of things our parents and grandparents did themselves. To save money, try cutting back on the frequency of these services or taking some of them on yourself.
  1. Prepare Your Own Meals – It costs nearly five times more to have a meal delivered than it does to cook it at home.5 And home cooking doesn’t just save money; it’s healthier, cuts down on calorie consumption, and can offer a fun activity for families to do together.
  1. Plan Your Menu in Advance – Meal planning is deciding before you shop what you and your family will eat for breakfast, lunch, and dinner. It can help you lower your overall food bill, eliminate waste, and minimize impulse purchases. When possible, buy produce that is in season, and utilize nutrient-rich but inexpensive protein sources like eggs, beans, ground turkey, and canned tuna.
  1. Plant a Garden – You can save even more on produce by growing it yourself. If you have space in your yard, start-up costs are relatively minimal. Gardening can be a rewarding and enjoyable (not to mention delicious) hobby for the whole family. And it could save you around $600 per year at the grocery store!6
  1. Review Memberships and Subscriptions – Are you paying for services and subscriptions you no longer need, want, or can utilize? Determine if there are any that you should suspend or cancel.
  1. Give Homemade Gifts – Who wouldn’t appreciate a scratch birthday cake or tin of cookies? And if you enjoy crafting, Pinterest and Instagram are full of inspiring ideas. Show your recipient how much you care with a homemade gift from the heart.
  1. Minimize Your Debt Payments – The best way to reduce a debt payment is to pay down the balance. But if that’s not an option right now, try to negotiate a better interest rate. If you have a good credit score, you may be able to qualify for a balance transfer to a 0% or low-interest rate credit card. Keep in mind, the rate may expire after a certain period—so be sure to read the fine print.
  1. Get a Cash-back Credit Card – If you regularly pay your credit card balance in full, a cash-back credit card can be a good way to earn a little money back each month. However, they often come with high-interest rates and fees if you carry a balance. Commit to only using it for purchases you can afford.
  1. Ask for Deals and Discounts – It may feel awkward at first, but becoming a master haggler can save you a lot of money. Many companies are willing to negotiate under the right circumstances. Always inquire about special promotions or incentives. See if they are able to price match (or beat) their competitors. And if an item is slightly defective or nearing its expiration date, ask for a discount.
  1. Track Your Household Budget – One of the most effective ways to reduce household expenses is to set a budget—and stick to it. A budget can help you see where your money is going and identify areas where you can cut back. By setting reasonable limits, you’ll be able to reach your financial goals faster.

Want more help getting a handle on your finances? Use the budget worksheet below to track income and expenses—and start working towards your financial goals today! Please reach out to me for a downloadable version.

WE’RE HERE TO HELP

We would love to help you meet your financial goals. Whether you want to refinance your mortgage, save up for a down payment, or simply find lower-cost alternatives for home repairs, maintenance, or utilities, we are happy to provide our insights and referrals. And if you have plans to buy or sell a home this year, we can discuss the steps you should be taking to financially prepare. Contact us today to schedule a free consultation!

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

Sources:

Insurance Information Institute –
https://www.iii.org/article/twelve-ways-to-lower-your-homeowners-insurance-costs

Department of Energy –
https://www.energy.gov/energysaver/water-heating/reduce-hot-water-use-energy-savings

Money Crashers –
https://www.moneycrashers.com/ways-conserve-water/

Harvard University –
https://green.harvard.edu/tools-resources/poster/top-5-steps-reduce-your-energy-consumption

Forbes –
https://www.forbes.com/sites/priceonomics/2018/07/10/heres-how-much-money-do-you-save-by-cooking-at-home/#2c53b2f35e54

Money –
https://money.com/gardening-grocery-savings/

Is Selling Your Home Right Now A Mistake?

Is Selling Your Home Right Now A Mistake?

Ask any real estate agent how the market is and you’re almost sure to get the same answer: “Great!” With everything going on, you deserve more than that. Even if the market is great, it still may not be a great time for you to sell. Many 

Add Value To Your Home With These 9 DIY Improvements

Add Value To Your Home With These 9 DIY Improvements

Whether you’re prepping your house to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and real value to your home. The best part is, once you’ve secured the 

Features That Buyers Are Looking For Right Now

Features That Buyers Are Looking For Right Now

If you’re selling your home soon, you probably know how important it is that your home is in tip-top shape. Before you pull up easy Pinterest DIY projects that make your home look trendy, consider the features that buyers are actually looking for right now and how you can make sure these features are showcased in your home. Here are 7 features that buyers are looking for right now.

Outdoor Space

Right now, the outside of your home is just as important as the inside. Whether you have a front porch, back patio or deck, or a balcony, having a space to create an outside oasis is an important feature that buyers are looking for. Check out some affordable options for sprucing up your outdoor space like throw pillows and string lights at Target or Home Depot.

Hardwood Flooring

Hardwood flooring not only looks beautiful, but it’s much easier to clean and tends to last longer than carpeting.  If you have the time and money to invest in hardwood floors before putting your home on the market, this will help attract more buyers and will most likely get a return on investment.

Updated Kitchen

“The kitchen is the heart of the home” or in other words, the kitchen is the room in which people spend the most amount of time in. We’re all cooking and eating at home more than ever, so functionality and flow in the kitchen are things buyers will love. An updated kitchen will add a ton of value to your home and attract more potential buyers. If your kitchen is open and flows into the living areas, this is a great bonus as potential buyers not only love a beautiful kitchen but an open floor plan.

Consider small but powerful kitchen updates like new countertops, painting the cabinetry, or even just a fresh coat of white paint and new hardware. These can all make a huge difference! 

Energy Efficiency

As people are spending more time in their homes, their utility bills are likely to rise. Having an energy-efficient home is an important feature that buyers are interested in right now. If you’re looking for small ways to make your home more energy-efficient, consider adding a programmable thermostat, another layer of installation, new doors and windows, or LED lights. Not sure where to start? Here are a few of our recommendations:

Dedicated Workspace 

As working from home becomes more of a norm, having a dedicated office or space to work and create has never been more important. Potential buyers will want to see that there is a space for them to be comfortable and productive at home.

Smart Home Technology

Living in the age of technology, it’s no surprise that smart home features are important to buyers right now. Devices that can control appliances and make our lives easier like smart doorbellssecurity cameras, and lighting systems, are something buyers are especially interested in right now.

Laundry Room

This feature is often overlooked but having a separate room or space for laundry is an important feature that buyers are looking for. If you’re able to, installing some shelving or a folding table in this room can attract even more buyers.

5 Steps to Finding Your Next Home

5 Steps to Finding Your Next Home

Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process. Buying a home is a significant commitment