RE/MAX Advantage I



Posted by RE/MAX Advantage I on 7/12/2018

Many of us will move home several times throughout our lives. Whether it’s relocating for work, needing a bigger house for children, or a quiet place to retire to, it’s likely that the home you live in now won’t be yours forever.

 As a result, many homeowners wonder what they can do to ensure their home will have a high resale value when the time comes to move on.

 The good news is that there are a lot of things you can do now that will give you a good return on investment when it comes to selling your home later. However, there are a few factors that affect a home’s valuation that are out of your control. We’ll talk about all of those factors below. So, read on for a list of the factors that affect your home’s resale value.

 The age of your home

Your house may not complain about it, but it isn’t getting any younger. Homes tend to slowly decrease in value over time. A home built in the late 1970s, even if it’s well taken care of, most likely won’t sell for the same price as a 15-year-old home.

There is one exception to the rule, however, and that is historical houses. Homes that are a century old can sell for top dollar because of the craftsmanship and history that the house contains.

Admittedly, this is a niche market, as many people just want a safe and efficient home to live in. However, there are some homebuyers who will put in a bit of extra work around the house for the chance to live inside of a piece of history.

Smart renovations

When you’re upgrading your house it’s important to remember how that upgrade will pay off years down the road. Some renovations will almost always give a good return on investment such as a finished basement or attic and improving efficiency via added insulation or replacing windows.

Renovations that match a very specific decorative taste or style could come back to haunt you. This includes bathroom sinks, kitchen cabinets, countertops, and other expensive projects that are subject to the next owner’s taste. While these upgrades can give a good return on your investment, they’re more likely to be successful if they fit the current trends of style and craftsmanship.

Neighborhood and town

One of the factors of home valuation that you have little control over is the town and neighborhood the house is located in. If there are closed down businesses, foreclosed and deteriorating homes then potential buyers might be turned off to the neighborhood.

Similarly, the town you live in has a lot to do with how much people are willing to spend. If you have easy access to interstate highways and large cities, highly rated schools, and good local infrastructure, then buyers are likely to take these into consideration when making an offer, as the average cost of a home in your town is likely higher than some surrounding towns.




Tags: home   resale value   valuation  
Categories: Uncategorized  


Posted by RE/MAX Advantage I on 2/22/2018

There are countless reasons a homeowner might want to sell their home and buy another. Some want to move for a change of scenery or to relocate for work. Others are parents with a recently empty nest who want to downsize to something more affordable that meets their needs.

The good news for second time homebuyers is that you already have an idea of what to expect when buying a home. The research, paperwork, disappointments, and delays that come with buying a home can all be prepared for. However, if you have the burden of selling your old home, finding a temporary place to live, and then moving into a new one, your responsibilities can be doubled or tripled.

In this guide, we’ll go over how to prepare for selling your old home and moving into the new one. We’ll cover some common mistakes and offer some advice to keep you sane throughout this daunting (but exciting!) process.

Buying or selling first

For most homeowners, selling first makes the most sense financially. Holding onto a second house often means having to make two mortgage payments at once. Similarly, selling first will give you a much clearer idea of your budget for your new home.

Depending on market conditions, your home may or may not sell for as much as you were hoping. It’s important to keep this in mind before signing onto a new mortgage.

Moving logistics

Once you sell your home, you’ll have to work out living and storage arrangements until you are ready to move into your new home. It may seem easy at first--just rent for a couple months until your move-in date, right? It isn’t always that simple, however, as deals can sometimes fall through and you can find yourself with a move-out date from your own home without having finalized a deal on your new home. Because of this, many homeowners elect to may their current mortgage for an extra month or two until they can move in to their new home. 

Research your options for short-term living and storage in your area. See if you can work with moving companies who will give you a discount for helping you move twice; once to the storage facility and again to your new home.

One way around this is to time your move out and move-in dates so that you don’t have to worry about storage. Some homebuyers will even move into the new home before officially closing on the home (i.e., take possession before closing). While this may be convenient, it can also be dangerous for the buyer and the seller.

Plan meticulously

One of the best piece of advice we can give is to stick to your schedule and keep good records during your buying and selling processes. Make sure whoever buys your home is aware of your plans for moving out and that anything that could delay those plans (inspection issues, moving logistics) are taken care of.  

Keeping track of all this information can be difficult, so don’t be afraid to keep a daily list or planner of the things you need to take care of, and never be afraid to reach out to your real estate agent who will often be able to advise you on the best way to make your move as smooth a process as possible.





Posted by RE/MAX Advantage I on 2/1/2018

Moving is stressful. You have to worry about cleaning out your old home, preparing your new one and all of the logistical headaches that come with it. If that weren't enough, you still have to balance your work and family life with the demands of moving into a new home. With all of those factors taken into account, it's easy to make mistakes on moving day. Today, we'll cover five of the most common mistakes people make while moving to a new home and how to avoid them.

1. Thinking you don't need help

None of us want to burden our friends or our wallets for moving. But unless all of your belongings fit in a suitcase and you're moving to a furnished apartment you're going to need some help. Whether it's friends, family, or professional movers, make sure you have enough people to help you with the moving process. Don't worry, you can repay them with free food or a good tip accordingly.

2. Assuming your help is reliable

If you're counting on friends and family to help you move, check in with them a few days in advance to make sure they're still available. Give them details for the exact time and place they're needed. As a courtesy, order everyone pizza at the new house in exchange for their help. If you're hiring a mover, do some research before you commit to one. Read customer reviews and testimonials, make sure they have all required licensing, and so on. Call to confirm on the day before the move to make sure no mix-ups have been made.

3. Not taking traffic into account

If you and your movers are on a deadline, take traffic into account for your move. Do a test run along the moving route during the hours you'll be traveling to find out how long it will take. This will also help you plan out stops for gas if needed. Another good practice is to print out directions to the new home and give them to everyone who will be driving. This way you and your moving van know exactly which route to take.

4. Forgetting overnight necessities

Necessities like a tooth brush, deodorant, soap, and cell phone charger should be packed in a separate bag that stays with you. This way it won't get lost among your boxes and regardless of where you're sleeping that night you'll know where to find the important items you need.

5. Not planning for their pet

Moving your belongings is easy, but moving your pet will require extra planning. You'll have to ready your crate, pet food, toys, litter box or dog bags, and anything else your pet needs. You'll also need to look out for your pet during the move since doors will be opening and closing and they'll be in a new (potentially frightening) environment. If you can, have someone pet sit for you on moving day. If that isn't possible, keep the pet in an empty room with everything they need until you've settled in, checking up on them periodically.




Categories: Uncategorized  


Posted by RE/MAX Advantage I on 11/30/2017

Do you ever wonder if those items stored away in your attic or basement are worth any money? Most people assume that their antique furniture and family heirlooms couldn't be worth the trouble of finding out their value. However, there are some items that are currently taking up storage space that you could get quite a lot of money for. In this article, we'll cover some of the items you're likely to have that are worth a lot of money and how to find out just how much they're worth.

Collectibles

Some collectible items gain value as the years pass. Sometimes a craze becomes so popular (i.e., Pokemon cards) that people snatch up every item they can find hoping that someday they'll be worth thousands. In reality, it's hard to know what items will be worth something decades down the road. However, there are many items that are currently very valuable that you might have laying around in your attic (hopefully still in the original packaging!).
  • Rare vinyl records Your mom's stack of dusty Kenny Rogers records might not be worth much, but you should dig through and old records and look them up online to see how much they're going for. Some editions of Bob Dylan and The Beatles sell for tens of thousands of dollars. You never know...
  • Comics Just like rare records, rare comic books can sell for thousands to serious collectors. Condition is key, but if you find any comics in the attic you should ask an expert how much they go for.
  • Musical instruments Antique guitars, violins, and pianos are highly sought after by collectors. Four things make an antique instrument valuable: the person who made it, the person who played it, the condition it's in, and the quality of the instrument.
  • Designer fashion If grandma used to have a taste for high fashion, it might be a good idea to look into who made her old purses and jewelry. Similarly, if there is an old wrist watch or pocket watch in the attic, see if you can find any details about it online.
  • First edition books There's a good chance your grand parents or great grandparents were book readers. They didn't have the internet or video games so what else could they be doing all day? If they happened to collect some first editions of the classics, you're in luck--The Great Gatsby with the original dust jacket recently sold for an incredible $194,000.

Artwork

You can probably guess that paintings by prominent artists are some of the most valuable collectibles in the world. However, it doesn't take a van Gogh to turn a profit off of some old paintings and sculptures that might be sitting in your basement. When we say art, we also include things like movie posters and old signs and advertisements. An original Star Wars movie poster can go for up to $100,000.

Antique wooden furniture

You've probably seen old furniture selling for thousands on television. The important things to look out for when it comes to valuing your old furniture are: is it made of all original parts? What time period is it from? Why type of wood is it made of? Which company crafted it? Only an expert can answer these questions for you.




Tags: money   home   antique   antiques   valuable   collectibles   attic   basement  
Categories: Uncategorized  


Posted by RE/MAX Advantage I on 11/16/2017

 

Two thirds of American homeowners are somewhere in the process of paying off a mortgage. It may seem like common sense that everyone should try to pay off their mortgage sooner rather than later. However, there are circumstances when it benefits a homeowner more to hold onto their mortgage longer.


In this article, we’ll offer some tips on paying off your mortgage, when you should refinance, and offer some tools that will help you along the long road to debt-free homeownership. If you’re a homeowner and find yourself asking these questions, read on.

I can afford to pay more each month on my mortgage, but should I?

In many cases, paying off your home as quickly as possible saves you money in the long run. A shorter loan term means less interest applied to your loan which could save you thousands of dollars in accrued interest.


What many people don’t think about is whether that money could be better spent elsewhere. If your mortgage interest rate isn’t too high, you might be better off allocating that extra income toward investments or retirement funds where they could earn you more in the long run.


This technique is typically most beneficial for younger homeowners. In your 20s and 30s you stand the most to gain from long-term investments, especially tax-benefitted retirement funds. Ultimately you’ll have to do the math, which is tricky because circumstances change; markets vary, our income goes up and down, etc. However, a good starting place is to determine whether you could earn more in retirement and investments than you could by paying off your mortgage sooner and therefore saving on interest. 

I’ve owned my home for a few years now, should I refinance?

Refinancing is a term that has become ubiquitous for homeowners. There are a few important things to understand about refinancing. First, lowering your monthly payments is not always ideal if it means you’ll end up paying more interest in the long run. Ideally, refinancing your mortgage will help you pay the least amount in total.

One way this can be accomplished is by refinancing to a 15-year fixed-rate mortgage which often darry slightly lower interest rates. This option is designed for people who have improved their credit and increased their income since signing their first mortgage.

Math isn’t my strong suit. How can I figure out my finances?

If all of the numbers and percentages associated with mortgages and refinancing seems overwhelming--you’re not alone. Fortunately, there are mortgage and refinancing calculators that will give you a good idea of where you stand if you decide to increase your payments or to attempt to refinance your loan. Here are some great tools:
  • Use this mortgage calculator for determining how much you would save by making extra payments.

  • This refinance calculator will help you understand the potential benefits of refinancing your mortgage.

  • To determine how much you could earn through investments (rather than paying more toward your mortgage) use this helpful tool.

  • You might be able to increase your savings by creating a better budget for yourself. This website will help you make a detailed budget and hold yourself accountable each month.






Tags: mortgage   finance   home   refinancing  
Categories: Uncategorized  




UA-48081509-1