…for Real Estate Buyers and Sellers. However, even if you aren’t planning to buy or sell, most of these also apply if you want more disposable cash, a better credit score, or property that is well-maintained, and in great condition. It’s that time of the year again! The time when we make (and break) resolutions for the new year. Easier resolutions have a higher chance of being completed. Here are our top 3 easy resolutions for Real Estate buyers and sellers:
Spring Clean Finances Weekly – Start cleaning up your finances NOW. Decrease expenses and debt load and increase savings. Discontinue unnecessary or used services and set that money aside towards your real estate purchase. The trick is to start early. The dollars add up quickly.
Know Your Maximum Budget – Know your starting budget i.e. how much can you afford if paying cash? How much can you truly afford monthly for mortgage plus other bills? If taking a loan, get pre-approved to determine how much the bank/ mortgage company will loan you maximum. Also, determine whether you will need to have money for a down-payment.
Improve/ Maintain Credit Score – Be sure to maintain your credit score if already stellar. If it can be improved, it doesn’t hurt to figure out how to improve the score, which may give you better terms on a loan, even if going with owner-financing.
BONUS – Know your timeline. This may be determined by how much you have to clean up your finances/ credit score first. Lastly, find a trusted realtor to help with the buying process.
3 RESOLUTIONS FOR SELLERS
Spring Clean Property Weekly – Start cleaning up the property NOW. De-clutter as much as you can every week, then invest in a cleaning company for a deep cleaning of the property. It makes all the difference in the world if the floor boards and blinds are sparkly clean. Donate extra items that you haven’t used or touched in over a year.
Make a Repair a Week – Pick a repair to complete in each month. It can be a minor or major repair like a broken mirror, burned out bulbs, missing outlet cover, or chipped paint…these can all affect the perception of the potential buyer. No detail is too small when it comes to showing the property in the best light.
Set a Timeline for Selling – Know your timeline for listing the property for sale, then work your way backwards. This may be affected by your individual circumstances, and/or how much you have to clean up the property, and make repairs first.
BONUS – Once you know your timeline, find a trusted agent to provide a fair market value analysis. This will help you set a listing price and realistic expectations for what the property might fetch.
Whatever path you choose to take, or resolutions you choose to make, we wish you all the best, and a very happy and prosperous New Year!