Kevin Durkin's Blog
Selling your home is a big deal, and while there's a lot that your real estate agent will do for you, you also have an essential part to play in the process of selling your home for a new one. A seller needs to make the house as attractive as possible when putting it up for sale. Here are the ways to prepare your home for sale:
Look at the house from a stranger's viewpoint
The advantage of viewing your property from a prospective buyer's perspective is that it enables you to identify some defects that could prevent potential buyers from initiating the sale process. Taking an unbiased and unemotional look at your home will help you see things in a better light. Better still, you can ask your friend or real estate agent to examine your home and give you an honest opinion about the state of the residence. And, try to amend whatever they pointed out as a defect.
Remove pets from the house
Pets are good to have in a home, but not all buyers like the idea of buying a home with pets around. Some buyers may not want to see pets around, especially if they are allergic to them. Therefore, it is advisable to remove all pets from the house. And have a non-pet owner give your home the "sniff test" to make sure the pet odors are gone too.
Make Improvement before selling
Nothing discourages buyers more than a property that is poorly maintained. Not only that, such houses attract lower offers. Prospective buyers will not be willing to buy a house for top dollar that requires extra costs for repairs and improvements. Therefore, an excellent way to increase the value of your home is to improve it before putting it up for sale. However, you should not overspend on home improvements, or the expenses will eat into your profits when selling. Your agent is an excellent resource for pointing out which upgrades are worth the money spent.
Spread the word
Below are ways that you can market your home by yourself and with the help of your real estate agent.
- Pay for ad space in local directories
- Word of mouth to friends and family
- Multiple Listing Services through your agent
- Speak to your realtor about creating a Virtual Tour
- Plan an open house to allow prospective buyers to see the house themselves
If you plan to place your home up for sale, consider the ideas above to ensure a fast sale. Most of all, follow your agent's advice on marketing trends that work best in your market.
80 Crescent St., Lowell, MA 01851
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16 Mansur St, Lowell, MA 01852
When dealing with mortgages, people erroneously believe that the smaller the mortgage taken out, the better for them. This article will clarify the reasons why even as daunting as it sounds, the larger and more prolonged the loan, the better.
People who apply for mortgages are those who want to own a house but don't have sufficient cash to buy one or those who need a large sum of money from a lender and use their house as collateral. These borrowers have an extended period to pay it back, and the length of time varies up to 30 years depending on the agreement between the two parties and the size of mortgage money-wise.
If the mortgage borrower is unable to pay after the stipulated time, the property is foreclosed and most probably sold so that the lender, which is usually the bank, is paid back for the loan. For this fear of not being able to pay back, borrowers tend to get smaller mortgages, but below are reasons why getting bigger mortgages may be better in the long run;
1. It gets easier
Over time, payment gets more manageable because the property value appreciates, and the borrower's income rises steadily while monthly mortgage payment remains the same especially if choosing a fixed-rate loan. Thus, as time goes on, the money to be paid gets less daunting and less significant in comparison to the borrower's inevitable financial growth over the years. In the beginning, it may be a struggle to make the payments. But, over time it gets easier.
2. Mortgage accords you the ability to invest more and quicker
Many people prefer long mortgages because that means that the monthly payment will be smaller and spread out over a longer time as opposed to short-term loans. It may be better to invest a more significant amount now to reap more productive rewards in the future as one can use the proceeds from the investment to pay up. This seemingly huge risk only encourages more and faster investments too. In the long run, bigger mortgages result in bigger monthly payments, but it may also result in greater wealth.
3. Mortgage: liquidity and flexibility
It is best not to listen to people who say that all that matters in mortgage loans is paying it off. Or, that it is a risky thing to do. Applying for a small mortgage loan with this mentality will not grant you flexibility. People who get small mortgage loans do not put into consideration all the other necessities toward which the money should go. Hence, one loses liquidity and control over access to one's money. Even though it would most likely appreciate in the long term, you are going to be handicapped in the short-term.
No matter what you decide, it is essential to understand that you must do what works the best for you both long term and short. Discuss with your personal financial consultant and real estate agent.