Marc Gottesdiener's Blog
Getting the best price for your home may seem like a major challenge, particularly for a first-time home seller. Lucky for you, we're here to teach you what it takes to maximize the value of your home.
Now, let's take a look at three simple ways to optimize the value of a residence in any housing market, at any time.
1. Analyze the Housing Market
Are you operating in a buyer's market or a seller's market? A first-time home seller who understands the differences between these types of housing markets can boost his or her chances of getting the best possible results during the home selling journey.
Take a look at the prices of recently sold houses in your city or town. That way, you can learn how long homes were available before they sold and learn about the demand for residences in your region.
Furthermore, don't forget to look at the prices of homes that are currently available and similar to your own. With this housing market data in hand, you may be better equipped than other home sellers to establish a competitive price for your house.
2. Conduct a Home Appraisal
A home appraisal is exceedingly valuable to a first-time home seller, as it enables a property seller to learn about a house's strengths and weaknesses.
During a home appraisal, a property inspector will examine a residence's interior and exterior. This inspector will spend several hours evaluating a residence, and after the assessment is complete, provide a comprehensive report that details his or her findings.
Analyzing the results of a home appraisal report is paramount. This will allow a home seller to find out what he or she can do to upgrade a home. Then, a home seller can allocate the necessary time and resources to transform assorted home weaknesses into strengths.
3. Collaborate with a Real Estate Agent
A real estate agent is a home selling expert, and as such, this housing market professional will do what it takes to help a first-time home seller optimize the value of a residence.
Typically, a real estate agent will help a home seller navigate all steps of the property selling journey. He or she will promote a residence to potential homebuyers, set up home showings and open houses and negotiate with homebuyers on a seller's behalf.
Perhaps best of all, a real estate agent is happy to help a home seller make informed decisions. This housing market professional will even teach a home seller about the real estate market and provide honest, unbiased home selling recommendations.
For a first-time home seller, navigating the real estate market may seem virtually impossible. But with a real estate agent at your side, you can streamline the home selling process and move one step closer to optimizing the value of your house.
Take advantage of the aforementioned tips, and a first-time home seller can increase the likelihood of receiving a great price for his or her residence.
When spring arrives it brings everyone out to the backyard for games, cookouts, picnics, and a number of other fun, fair weather activities. It also brings yardwork.
With the busy schedules that most homeowners have, it can be difficult to find time to spend hours working in the yard each weekend. Depending on where you live and the size of your backyard, there are many options for making it a bit easier to take care of your lawn and garden.
In this article, we’ll give you some advice on how to make caring for your backyard a lot simpler so that you can spend your time outside enjoying the weather rather than working up a sweat.
In most suburban and rural neighborhoods, lawncare seems like a competition. Everyone wants their grass to look as green as their neighbor’s. But keeping a meticulous lawn can be difficult if you have kids, pets, or just don’t have the time to spend manicuring and fertilizing your lawn. What’s more, lawncare can get expensive quickly and can go wrong just as quickly in the case of droughts and pests.
There are many ways you can simplify your lawn care. If you love having a lawn, but mowing is a pain, it can be easier to remove some obstacles from your yard. Bird baths and other decorations can be a nice accept, but sometimes they make mowing more difficult than it needs to be.
If you don’t want to deal with grass at all, or want a smaller area to mow, you have a few options.
You could make your yard more of a natural meadow by planting wildflowers and encouraging long grasses. Laying a brick path down the middle creates the air of a walkthrough garden where you can view the many florae that will be ever-changing in your yard.
If you like your yard to look neat and tidy, creating a patio and placing a few choice potted plants and trees on it will save you a lot of time pushing the lawnmower.
Choose the right plants
Many people plant bushes, trees, and flowers based solely on the fact that they like them. It makes more sense in the long run, though, to choose your plants based on their hardiness, and your ability to care for them.
Some plants are marketed as being impossible to kill. However, you should still read the care requirements to make sure they’ll work with your yard’s climate, light, and water conditions.
In warmer climates, cacti and succulents are a good choice and will likely fit the scenery. For colder climates, there are a number of conifers, shrubs, and bushes that will stay green throughout the winter, adding a bit of color to the dreary season.
A good way to make sure your yard will be low maintenance year-round is to use plants and trees that are native to your area. Since they’re in their natural habitat, they’ll likely require less work on your part.
Many property owners at some point consider renting out their house. Whether it’s a property they inherited, a summer home they rarely use, or they're just trying their hand at property management.
It's a common misconception that renting out a house is passive income. You'll have to do a lot of work if you plan on keeping your tenants around and paying their rent.
In this article, we’ll discuss some of the things you should consider if you're planning on renting out a house or property you own.
The rental process
Some landlords take shortcuts during the rental process to save time or money. However, doing so could cost you big time in the long run. If you don't utilize a real estate agent, draw up the proper contracts and agreements, or fail to do due diligence with walkthroughs, you could easily end up losing money on your investment.
The safest approach to finding reliable tenants and renting your property securely is to use a property manager who knows the practical and legal aspects of renting so you don't have to worry about making any beginner mistakes.
DIY property management
If you decide you want to save money and manage the property yourself, there are a few things you should keep in mind when looking for tenants.
First, use background checks and credit checks to ensure your future tenants are in good financial standing.
Next, ask for references on your application, preferably from former landlords. Most landlords will happily let you know if their tenants were good about making on-time payments or were difficult in other ways.
When it comes to your lease, don't try to write it from scratch. There are several templates available online. Try to find one that covers most applicable laws in your area, then hire a lawyer to read over your lease and make any pertinent changes.
Finally, be sure to collect a security deposit or first and last month’s rent. This will give you some protection if your tenant stops paying or causes costly damages in the building.
Know your legal limits
If you've ever rented before, odds are there were a few things you wish your landlord did differently. Before beginning this endeavor of becoming a landlord, make sure you're doing it by the book.
Find the laws for your state and city regarding landlord/tenant requirements. Know when you can enter the apartment and how long of an advanced notice is required to do any work in the apartment.
Before sending any complaints or notices to your tenant, make sure you are in the right, legally speaking and can back up your claims with evidence. To do so, you'll need to practice rigorous bookkeeping. Document and keep copies of each payment you receive and all of the money you spend on repairs and maintenance. These records can help you should you ever need to prove yourself in a court of law.
Finally, be respectful and courteous with your tenants. Going out of your way to be helpful will often save you headaches in the long run. However, know when your leniency is being taken advantage of by tenants who are avoiding paying rent or abusing your property.
Buying a vacation home is an important goal and milestone for many Americans who want to make the most of their holidays and plan for retirement.
Vacation properties needn’t be lavish or expensive to still be a perfect way to enjoy the winter months at your home away from home. Furthermore, owning a vacation home can prove to be an excellent financial asset that increases in value over time, as more people seek to scoop up properties in your area.
In today’s post, I’m going to talk about some of the most important things to look for in a vacation home to help you kick off your search. Whether you’re months away from buying a home or the idea of a second home is still a far-off dream, this article is for you.
1. Consider locations
The most important aspect of any vacation home is that it’s located in the perfect place for you to enjoy. Whether that’s a remote getaway in the mountains or a beachfront property in Florida, your plans for the home should be your number one priority.
If it’s your ultimate goal to retire and move into your vacation home someday, consider what it would be like living in that location full time. Is it close to amenities like grocery stores? Or, if you’re moving to a coastal area, will the traffic drive you crazy?
On the other hand, if you don’t intend to ever move into your vacation home full-time, it might be wiser to choose a location that will suit your family’s vacation needs while remaining a great asset to sell down the road.
2. Spend a week at your destination before buying
Some homeowners have a dream of buying a vacation home in a place they’ve always wanted to visit or have simply heard is a great place to own a vacation home in. The problem with this is that you might find, once you arrive, that you don’t want to spend several weeks or months there after all.
It might get too crowded during vacation season or you might decide that there isn’t enough to do that will keep you busy for extended stays.
To prevent buyer’s remorse, spend a week or two in your planned vacation home destination to make sure it really is the best spot for you.
3. If you plan on renting, know what to expect
Many Americans purchase a vacation home with the intention of renting it out while they aren’t using it to earn extra income. While this can be a great way to generate income, you will need to be prepared for becoming a landlord.
Look up local rental laws in the area to make sure you understand your responsibilities. Furthermore, understand that renting out a property part-time takes work; you’ll interact with prospective renters, filter out those that you think aren’t suited for your home, and handle problems with the property as they arrive.
If you keep these three things in mind, you should be able to find the perfect vacation home for you and your family.