Whether you are a First Time Homebuyer or an experienced homeowner, buying a new home is always stressful. Here’s a handy checklist of six things you can do up front to make the process a lot easier. Before you start packing, here’s what you need to do. Prepare a budget. You need a clear picture of your family’s finances before you even think about calling a Realtor or applying for a mortgage. List all your monthly fixed expenses, such as car payments, current rent or mortgage, utilities, school tuition, and loan payments. Add categories for other expenses such as food and entertainment. List your debts. If you have existing credit card debts, student loans or other debts that require regular monthly payments, get them down in black and white, so you know exactly how much you owe. Figure out your debt ratio. There are plenty of online calculators that will do this for you. You need to know two ratios. Your housing debt expenses (including taxes and insurance) as a percentage of your gross monthly income should be 25-28%. Your installment debt ratio (credit cards and other consumer debt) should be around 10-15%. Your total debt to income ratio should
You want to sell your home in the shortest possible time for the highest possible price, right? Of course that is every seller’s goal and it’s your Realtor’s goal as well. Follow the 50% rule. Look at every flat surface in your house and take at least 50% of the items away. This goes for kitchen and bathroom counters, desktops, bookshelves and dressers. Maybe you do use that blender/toaster/coffeemaker/radio every day, but for now, keep it out of sight and get it out only when you need it. 50% your closets too. If stuff tumbles to the floor every time you open a closet or a cupboard, you won’t impress your buyers. An overstuffed closet tells a buyer that you don’t have enough storage space. So get out the packing boxes, pretend you’re moving next week, and streamline every space. The buyer needs to know there’s plenty of room for his (or her) stuff. Don’t get personal. When a buyer walks through your front door, you want her to imagine herself living in your home. This won’t happen if the walls are covered with family pictures and the refrigerator door is decorated with childlike Picassos. Add these items to your
When home buyers drive your neighborhood, or when Realtors are previewing for their clients, what do they see? You never get a second chance to make a first impression, so make sure your home makes people go “wow.” Take a walk around your property right now—front to back. Pretend you’re a prospective buyer. Do you like what you see? Here are eight quick tips for creating a visual impression that makes them want to see more. Start at the door. Get out your paintbrush and spruce up the front door. A bright color will attract attention from the street, if that fits with your overall exterior. Replace doorknobs and hinges with something new and shiny. A seasonal wreath on the door adds a welcoming touch. If your screen door squeaks or sags, get a new one or just remove it to make an attractive door more visible. Under pressure. Rent or buy a pressure washer and go over the entire exterior, top to bottom. Pay special attention to any white or light-colored areas, which tend to collect dust and dirt. Use it on porches, stairs and decks. And by the way, power washing is equally effective on concrete, and can
