Valuable Real Estate Advice For Buyers and Sellers
Love is in the air, and you’ll love this month’s real estate round-up! Whether you are a buyer, seller, investor, real estate agent, or someone who loves real estate, you will enjoy all of these great articles written by top professionals in the industry.
Money-Saving Tips for Buying Homeowners Insurance
While homeowner’s insurance is required for some, it’s not required for others. Regardless, every single homeowner should have homeowner’s insurance. For most, a home is the biggest financial investment they’ll make, so it needs to be protected. Nobody ever plans for catastrophic events like hurricanes, but they happen.
The cost and coverage of homeowners insurance can vary greatly, so buyers and homeowners need to understand what they’re purchasing. The last thing an owner wants to find out if their insurance company isn’t going to pay their claim.
So how should homeowners know what they’re getting and what to look out for? Michelle Gibson shares excellent tips for buying homeowners’ insurance and what everyone needs to know.
Do You know Your Credit Score?
Unless you plan on paying cash for everything throughout your life, credit matters, and in some cases, even if you pay money, it matters.
It determines what type of loans you qualify for and the interest rates for them. In some industries, it can even impact whether or not you get hired for a job. That new apartment you applied for will most certainly look at your credit.
Even if you pay your bills on time and know every account is open, you should still check your credit at least once a year. It’s common for people to find inaccuracies in their credit reports, and the sooner a person knows about them, the sooner they can resolve them.
Finding out about these inaccuracies when applying for a mortgage or a car loan isn’t the best way to find out. There isn’t an excuse not to pull your credit either, especially when you can get your credit report and score for free, as Bill Gassett shares.
Tips for Moving with Kids
Moving can be stressful, moving with kids and pets can take a person’s stress to another level. However, if you follow these excellent tips for moving with kids that Paul Sian provides, you’ll be one step closer to a stress-free move.
First and foremost, parents need to realize moving isn’t just stressful for them. It’s stressful for kids, too, no matter how old they are. While toddlers may not understand, they know things are changing around them and may not like it. They might go from sleeping through the night to suddenly waking up at odd hours.
Older kids are impacted, too; some don’t want to leave their neighborhood or friends. The further the move, the more difficult it can be on a child, especially if they won’t be able to see their friends anymore easily. Change can be scary for everyone, regardless of age, and parents must remember that.
When the move is finished, don’t forget about tipping the movers if they do an excellent job.
VA Second-Tier Entitlement Explained
VA Second-Tier Entitlement is a lesser-known aspect of the VA mortgage, but it can be a real boost for some. Luke Skar explains how VA second-tier entitlement works and how it can benefit our great American veterans.
Not only can it wipe the slate clean and help them start over with a new loan after a foreclosure, but it also provides options for those moving to a new location under military orders.
What Are The Best Home Warranty Companies?
There continues to be some confusion among homeowners or soon-to-be new homeowners about what a home warranty covers and what value it provides. To help deliver clarity on this topic, Architectural Digest has an excellent article on the best home warranty companies.
The article goes in-depth to help answer the following questions:
- What Home Warranties Typically Cover
- How to Choose a Home Warranty
- The Top 7 Home Warranty Companies according to Architectural Digest Reviews
See the essential things to know about the best home warranty companies.
How to Sell For Sale By Owner
Are you considering selling your home without the assistance of a real estate agent? Many people think about trying to sell independently but quickly realize it is a lot of work and not as easy as you would think. Selling a house by owner often fails.
Is it possible to increase your odds of success? Yes – which is precisely the pointers the article provides. See how you can increase your chances of success as a FSBO.
Pros & Cons of Selling a Home As-Is
Selling a home as-is has become the norm for most sellers throughout the country. However, some sellers still wonder if it’s something they should do. Decades ago, when a home was being sold “as-is,” it almost always meant the house was in poor condition, but that isn’t always the case today.
Most sellers sell as-is, so they don’t have to be burdened with repairs. That is undoubtedly a pro, but there are also some downsides to selling a home as-is, as Sharon Paxson explains.
Just because a seller decides to sell as-is doesn’t mean they don’t have to disclose defects. In some areas, an as-is sale gives the buyer an out, and they can cancel the contract for any reason during the as-is period.
That is a significant con, especially if it’s a long as-is inspection period. A seller could be packed up and moved only to find out the buyer is canceling the contract. Sellers need to weigh the pros and cons of selling as-is before committing to doing so.
What to Know About Home Inspections
When buying or selling a home, there is one hurdle that all parties can’t wait to get through – the home inspection! More sales fall through at the home inspection than at any other time in the transaction.
See what you need to know about the inspection process in this handy house inspection checklist at RISMedia. You will love all of the advice to understand better what to expect.
What Renovations Should Sellers Make?
Should sellers renovate their homes before selling them? This is a question a lot of sellers have, and it shouldn’t be taken lightly. A seller can easily lose money if they make the wrong improvements or possibly not be able to sell their home at all. Glenn Shelhamer, a top agent in Los Angeles, walks us through one of his recent projects.
A home that just sat on the market was quickly sold for top dollar after he was hired to sell the property. Why? Because he had the right renovations done and incorporated the perfect amount of staging.
Anyone considering selling their home should have a top Realtor involved to ensure they don’t waste money making the wrong improvements. All buyers have certain expectations, which can vary from area to area.
A local Realtor will know exactly what buyers expect. Therefore they’ll be able to guide their clients on improvements or renovations.
Benefits of Owning a Home
Buying a home is a big step for most people; it’s even scary for some. However, there is nothing to be afraid of because of the many benefits of owning a home, as Jeff Nelson discusses.
There are several financial benefits, like building equity and tax benefits. There are other great benefits of homeownership like building wealth, stability, and freedom! You’ll never have to worry about the landlord kicking you out once the lease ends.
Moving is expensive, whether you do it yourself or hire someone. Not having to stress about where you’re going to live is priceless. Also, as a homeowner, you won’t have to answer to anyone.
If you want to paint a room or the entire house, you can go without approval from a landlord. If you’re going to invest and freshen up the landscaping, you’re building equity for yourself, not the landlord. Plus, it can be more cost-effective to own a home than rent.
How to Shop for a Mortgage
Shopping for a mortgage is key to obtaining the best mortgage, rate, and terms. Yet, some people still walk into their bank and accept whatever terms the bank gives without blinking.
Some assume their bank will provide them with the best mortgage. While others aren’t sure about how to shop around for a mortgage.
Considering paying off their mortgage takes 15-30 years, everyone should shop around and be locked into the best loan and rate.
If you are one of the many, who don’t know how to shop for a mortgage, Kevin Vitali does an outstanding job explaining how to do so. Shopping for a mortgage is rather easy, and you don’t have to call countless lenders or brokers. Sometimes reaching out to two is all it takes to obtain the best terms.
Those planning on buying a home in the future would be best served by getting their financial house in order at least a year in advance.
Doing so becomes more comfortable when you use a company like Credit Karma or Credit Sesame that assists in building a better financial picture for borrowers. Take a look at the pros and cons of each of these services.
The Biggest House-Flipping Mistakes
Flipping houses can be a great way to make money but also a great way to lose money. Anita Clark shares the biggest house-flipping mistakes that investors make. Not having the right team in place can be extremely costly, so can overpricing the home once it’s ready to list.
The longer it takes to renovate the home, the more carrying costs will be incurred. The same holds when the house is placed on the market. Overpriced homes will just sit, and time is money when flipping a home.
Flipping a house isn’t as easy as it appears on TV. It takes a savvy, smart investor who knows what they’re doing and how to avoid mistakes. Being organized and staying on track is the key to making the most money.
A Closing Checklist for Home Sellers
There are a lot of steps involved in selling a home, and the best way to make it a stress-free process is by being organized. Some people have a great memory and are super organized, but that can go out the window when selling a home.
Joe Boylan discusses that having a to-do list before, during, and after closing is vital. Some of these lists, like the selling or closing checklist, can be addressed before listing your home for sale.
Gathering necessary documents, like mortgage information, title information, and a survey ahead of time will start making a dent in the “to-do” list.
Preparing for the home inspection and appraisal is also highly recommended. Make all needed repairs before listing, so it’s one less thing the home inspector finds.
Previous Best of Real Estate Roundups
If you enjoyed the real estate roundup, look at some of our recent issues.
- Best of January 2020 real estate articles – see what real estate topics were hot for January that buyers and sellers should know.
- Best of December 2019 real estate articles – read a few of the best year-ending articles from numerous bloggers.
The best of the best real estate articles are loaded with excellent advice when you are buying or selling a home.
About the author: Michelle Gibson is a top Real Estate agent in Wellington, Florida, with the Hansen Real Estate Group and has been specializing in residential real estate since 2001.