Advantages of Home Warranties

Having a home warranty is always an advantage, not only for the buyer but for the seller as well. Warranties reduce the worries that may arise with the purchase of a new home. When a pipe busts, unexpected repairs are needed or anything out of the ordinary occurs you don’t have to worry about a thing, just place a call to your warranty provider. This will allow you to keep your peace of mind.

Advantage for the buyers

Prior to purchasing a home, the buyer can always ask the seller to include a home warranty in the purchase contract, this way the seller pays for it. If by chance the seller refuses, the buyer can easily drop the current deal and search for a seller who is more than willing to include a home warranty in the purchase. This is a buyer’s market, meaning that normally the buyers have the upper hand in negotiating since there are numerous sellers and limited buyers in the market today. So, sellers are normally more open to negotiating the demands of the buyer due to the slim chance of a sale.

Advantage for the sellers

The buyers aren’t the only ones who benefit from a home warranty, seller do as well. Some sellers view this as a marketing strategy to generate buyers who are serious about purchasing. It assures their buyers that any damages on major systems and appliances will be taken care of without spending a dime. This is very ideal for the buyer and it will keep them satisfied. Because you, as a seller, have offered a home warranty you don’t have to worry about a buyer calling you after closing due to a problem arising with the home. You will no longer have to worry about the house because the new occupants will be taken care of by the warranty provider in the event that something goes wrong with the home.

Choosing an ideal home warranty company

No matter who pays for the home warranty, the buyer or the seller, it is very important that party who pays checks the coverage carefully to make sure that all the essential items are covered. Also, make sure that you are paying a reasonable value for your coverage, you don’t want to be paying too much. You have to research to find good deals. Look for different providers and compare their coverage and rates. 

             It’s not ALL about the coverage and rates; you also need to be concerned of the background of the provider. Is the company financially stable? This is important because they will incur expenses when repairing or replacing damaged systems or appliances. You should also find out more about their services. Are they prompt in responding to customers? Will they make the necessary repairs right away? Ask about the quality of their work as well.

Summary

             If you want to protect your home, make sure that you invest in home warranty. Both the sellers and buyers can benefit from it. However, it is vital to choose a good provider for the warranty. Aside from the coverage and rates, see to it that the company will be able to provide aid when you need it. Ask their existing clients about their services and ask if it is satisfactory.

How to prepare your home for selling

Out of all the sellers I have serviced, there are two things that they ALL have in common, they want their home sold fast and want to bring in the most they can for their home. That sounds great right?!  It takes careful planning and the professional knowledge of how to liven up your home that will have your buyers jumping for their checkbooks. Here are a few things that I would recommend doing to transform your home into an irresistible and highly marketable home.

Here's How:

1. Drop ALL claiming rights to your home.
• Look at yourself and say, "This is not my home; it is a house -- a product to be sold much like a box of cereal on the grocery store shelf.
• Make a mental not yourself that you will have to “let go” of your emotions and focus more on the reality that soon this house will no longer belong to you.
• Imagine yourself handing over the keys, documents, and envelopes that contain important information and warranties to the NEW owners!!
• Say goodbye to every room.
• Don't look backwards -- look toward the future.
2. De-Personalize.
   Remove the personal photographs and family heirlooms. A buyer doesn’t want to see your personal touches, but would rather want to imagine their own photos on the walls. However, they can’t do that if yours are there! You don’t want the buyer asking questions like, “I wonder what kind of family live in this home?” Instead, you want them saying, "I can see myself living here."
3. De-Clutter!
   Some people collect a sizeable amount of junk! Consider this: if it’s been over a year since you’ve used it, you probably need to get rid of it.

• If you don't need it, you can always donate it or throw it away.
• Remove all books from bookcases.
• Pack up your knickknacks.
• Clean off the kitchen counters.
• Put items you use on a daily basis in a small box that can be stored in a closet somewhere so that it is not visible for the showing.
• Think of this process as a head-start on the packing you will eventually need to do anyway! J
4. Rearrange Bedroom Closets and Kitchen Cabinets.
   Sometimes buyers are nosey! J They will open your closets and cabinet doors just to look. What happens if something falls out, or if the insides are messy? Now think, what if the buyer sees that everything is organized? It will send the message to the buyer that if the closets/cabinets are clean then the rest of the house is taken good care of as well. This means:

• Alphabetize spice jars.
• Neatly stack dishes.
• Turn coffee cup handles facing the same way.
• Hang shirts together, buttoned and facing the same direction.
• Line up shoes.
•  
5.  Rent a Storage Unit.
   Most homes show better when there is less furniture around. Think about removing pieces of furniture that restricts paths and walkways. And since you’ve removed the books from your bookcases (as I mentioned earlier) it is easier to store them! If your dining table expands, collapse it to make the room appear larger. Leave just enough furniture in each room to showcase the purpose of each room. The last thing you want is the buyers confused and wondering what the rooms are used for.
6. Remove/Replace Favorite Items.
   If there are certain items in the home that you plan on taking with you (window coverings, appliances, or other fixtures) it is best to remove them prior to the showing. If you have installed new lighting fixtures that are family heirlooms, replace them. If a buyer never sees it, they will never want it or question if it is included in the home. If you do happen to leave items in the home and a buyer wants it, but you say no, it could possibly blow your deal. So pack up those items and replace them, if necessary.
7. Make Minor Repairs.
• Replace cracked floor tiles or counter tiles.
• Patch holes in walls.
• Fix leaky faucets.
• Fix doors that don't close properly and kitchen drawers that jam.
• Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
  (Don't give buyers any reason to remember your home as "the house with the orange bathroom.")
• Replace burned-out light bulbs.
• If you've considered replacing a worn bedspread, do so now!
8. Make the House Shine!

• Wash windows inside and out.
• Rent a pressure washer and spray down sidewalks and exterior.
• Clean out cobwebs.
• Re-caulk tubs, showers and sinks.
• Polish chrome faucets and mirrors.
• Clean out the refrigerator.
• Vacuum daily.
• Wax floors.
• Dust furniture, ceiling fan blades and light fixtures.
• Bleach dingy grout.
• Replace worn rugs.
• Hang up fresh towels.
• Bathroom towels look great fastened with ribbon and bows.
• Clean and air out any musty smelling areas. Odors are a no-no.
9. Scrutinize.
• Go stand outside of your home. Take a good look at your home. Now, do you want to go inside? Does the home feel welcoming to you?
• Take a slow tour of every room in your house and imagine how it will look to a buyer
• Carefully examine how furniture is arranged/placed and move pieces around until it looks perfect.
• Make sure window coverings hang level.
• Does it have impact and pizzazz?
• Does it look like nobody lives in this house? You're almost finished.
10. Cross your T’s and dot your I’s.
    If a buyer won't get out of her agent's car because she doesn't like the exterior of your home, you'll never get her inside.
• Keep the sidewalks cleared.
• Mow the lawn.
• Paint faded window trim.
• Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
• Trim your bushes.
• Make sure visitors can clearly read your house number.

I hope you enjoyed my take on how to properly get your house ready for staging. My next article will be on the actual process of staging your home.

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Buying A Home: A getting Started Guide

Do you currently rent your home? Maybe you have thought about buying a home and you feel as if you are just throwing your money away on rent. It’s time to get a place to call you own, home! But of course, you have a few reservations about purchasing a new home.

Sure you have questions and may be a bit nervous, those are all normal feelings after all this is an important financial decision in your life. But being educated on the home buying process will empower you to overcome those first-time home buyer jitters. 

Is buying a home is the right thing for you?

Many people are petrified of buying a home, and some of those fears are justified. As a real estate agent I hate to admit it, however, owning a home is not a perfect fit for everyone. There are some factors to keep in mind when making the decision to rent or buy.  

Renting vs. Buying – Things to consider:

Bad Credit

Ø  If your credit report is less than 620, it is a good chance that you will not receive a good rate for a loan and could potentially put you in the hands of lenders that do not have your best interest at heart.  

Ø  If you decide to pursue buying a home with bad credit, I would advise trying to raise it prior to applying for a loan.

Ø  Did you know that four (4) late payments is all it takes to make you ineligible from getting a loan?!  You can order a copy of your free credit report online. 

High Debt Ratios

Ø  When getting a loan lenders look at two ratios: front-end and back-end.  Your mortgage payment (including taxes and insurance divided by your monthly salary) is considered the front-end. The back-end factors in your monthly debt to your PITI payment before dividing the total for your salary. If after your calculations your debt ratio is 50% or higher you may not qualify for a loan. ANY lender willing to fund such a loan is NOT who you would want because you will be paying too much.

Job Instability or Relocation

Ø  How stable is your job? In 6 months, 1 year, or more will you be able to support the payments required by your loan? Things to look at in relation to your job is; Is your company laying people off? Could you be fired? Remember that unemployment is usually not sufficient enough to support a mortgage payment.

Ø  In relation to relocation, is it possible that you may be relocating in a few years? Military members should think about this prior to buying. Is this a city/town/state that you want to reside in after retirement? Are you willing to rent out your house in the event of a PCS move?  If you did purchase and had to relocate more than likely you would have to sell. When buying a house, the intent should be to at least stay for a while.

Pulling Maintenance

Ø  Every house requires upkeep, but not everyone is handy enough to tackle all the home repair projects that may but may also not have the means to support a professional to correct the issues. A good thing to keep in mind is to set aside at least 5% of the purchase price to cover any upkeep/maintenance issues that may arise when you purchase your home.

So to sum everything up, prior to getting geared up to purchase your first home you should line up your finances, put aside a down payment and do some research on the loan programs that are available for you. By researching and doing your homework you will be able to estimate how much you can afford and how much it will cost you. 

Good luck on your home search pursuit!

 

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