A house-hunting journal can be made simply and easily and reduce both stress and time when comparing houses.
A house-hunting journal is a very useful tool to use when searching for a new house. It can be made simply and easily and reduce both stress and time when comparing houses. You will no longer need to make repeated trips to the same houses to determine which house had what feature. In addition, you will be better able to compare your house choices at a glance. All of the information of each house will be at the tip of your fingertips making your decision much easier to make.
You will need:
A loose-leaf binder, to hold the pages of your notebook
A digital camera for taking picture of the house and its features
Computer for creating your customizes journal pages
A printer that will also print your photos
A hole-punch to make the pages fit into your journal
Once you have gathered all of your items you will need to create a spreadsheet or checklist that details possible wants and amenities in the house. Try to keep the spreadsheet to two pages that you can view at a glance. In addition to the spreadsheet, make space for several pictures for each property. Each property should consist of five pages each. Page 1 should have pictures of the front of the house including the street numbers in case the pictures ever get confused. Page two and three should have the checklists. Page four should contain pictures of extra amenities and features the house has and page five should contain pictures of any damage or concerns. Never house hunt without a camera.
On your checklist or spreadsheet, use items that are important to you from the following questions. This will help you measure the amenities of each home you visit.
What is the square foot of the house?
Is the space well used?
What is the lot size?
What is the garage size and were is it located?
How many bathrooms?
How many bedrooms?
What kind of flooring is in the house?
Does the house need renovating, and in what rooms?
Does the house need redecorating and in what rooms?
Is the house in move-in condition?
Is there evidence of wear?
Is there a basement, and is it finished?
Is there an attic and is it finished?
Is the yard fenced?
Is the yard high or low maintenance?
What is the condition of the foundation?
What is the condition of the foundation?
What are the neighborhood property values?
What are the zoning ordinances?
How are the crime rates?
How are the schools rated?
Are their any local services?
How long is the commute to your job and activities?
Of course, this list is not exhaustive. You can remove anything that is not important to you and add things that are. The key is to detail has both the standard and extra amenities in each property so that you can make an educated decision instead of an emotional one.
Unless you absolutely hate a house, fill out a checklist for every property. Do not be shy about taking pictures, as this part is vital to saving time. The pictures will job your memory. If anyone has problems with you taking pictures, chances are that you should probably not buy that house.
http://www.essortment.com/home/househuntingjo_sdrj.htm
Wednesday, June 27, 2007
Purchasing versus renting
Weigh the pros and cons of renting and home ownership to decide which is better in your situation.
There is a point in every person’s life when it is time to consider purchasing a house. Renting can be advantageous, as can be home ownership. One has to weigh the pros and cons of each to decide which is better in each situation.
First, you must understand that home ownership is much more than freedom to have wild parties without being evicted. There are many responsibilities attached to owning a home. The first of those responsibilities are costs. Instead of rent, you will have to pay your mortgage, and pay it on time. Paying your mortgage late will have lasting effects on your credit report. Next, you will need to pay property taxes, which may be included in your mortgage payment to make your life simpler. Homeowners insurance and mortgage insurance will also be tacked onto your mortgage payment.
You will have to pay utilities that you did not pay when you were renting. Some of these utilities are water, sewer, and garbage removal. If you did not have to pay for gas and electricity when you were renting, you now be responsible for them as a homeowner. You must also put into your budget, money to maintain your home. If something breaks or shows wear, you will not be able to call the property owner to fix it. Not maintaining your home will lower your property value.
These extra costs do not have to deter a buyer from purchasing a home. Instead, it should show you how to budget for it, and urge you to make sure your mortgage payment is less than your rent was, no matter how tempting it may be to upgrade your standard of living.
As a renter, you also have major responsibilities. As the home is not yours, you have to answer to the owner for any changes you make in the property as well as how you use the property. The Landlord may forbid you to run a business from the home, he may forbid parties and pets. Other responsibilities of renters are paying the rent on time, keeping the home neat and clean, possible lawn care and snow removal, and giving ample notice in advance of moving.
Pride of home ownership is probably the first and most important reward of owning your own home. Chances are you will make a financial profit when you sell your home, if you occupy it for at least a few years. You are able to have pets, and to make changes in the home as you please. Some of the costs of your home are tax deductible. In addition, your mortgage payment will stay the same year to year in most cases, instead of paying a higher rent every year.
At the same time, there are many positive aspects to renting. The first is that your monthly living costs are predictable. Should anything break or need repair, it is not your responsibility to take care of it. You are free to have a transient lifestyle. When you own a home, it will be difficult to decide to spend a year in another state or country. When you rent, all you need to do is give your property owner notice, and move on.
http://www.essortment.com/home/purchasingversu_sdri.htm
There is a point in every person’s life when it is time to consider purchasing a house. Renting can be advantageous, as can be home ownership. One has to weigh the pros and cons of each to decide which is better in each situation.
First, you must understand that home ownership is much more than freedom to have wild parties without being evicted. There are many responsibilities attached to owning a home. The first of those responsibilities are costs. Instead of rent, you will have to pay your mortgage, and pay it on time. Paying your mortgage late will have lasting effects on your credit report. Next, you will need to pay property taxes, which may be included in your mortgage payment to make your life simpler. Homeowners insurance and mortgage insurance will also be tacked onto your mortgage payment.
You will have to pay utilities that you did not pay when you were renting. Some of these utilities are water, sewer, and garbage removal. If you did not have to pay for gas and electricity when you were renting, you now be responsible for them as a homeowner. You must also put into your budget, money to maintain your home. If something breaks or shows wear, you will not be able to call the property owner to fix it. Not maintaining your home will lower your property value.
These extra costs do not have to deter a buyer from purchasing a home. Instead, it should show you how to budget for it, and urge you to make sure your mortgage payment is less than your rent was, no matter how tempting it may be to upgrade your standard of living.
As a renter, you also have major responsibilities. As the home is not yours, you have to answer to the owner for any changes you make in the property as well as how you use the property. The Landlord may forbid you to run a business from the home, he may forbid parties and pets. Other responsibilities of renters are paying the rent on time, keeping the home neat and clean, possible lawn care and snow removal, and giving ample notice in advance of moving.
Pride of home ownership is probably the first and most important reward of owning your own home. Chances are you will make a financial profit when you sell your home, if you occupy it for at least a few years. You are able to have pets, and to make changes in the home as you please. Some of the costs of your home are tax deductible. In addition, your mortgage payment will stay the same year to year in most cases, instead of paying a higher rent every year.
At the same time, there are many positive aspects to renting. The first is that your monthly living costs are predictable. Should anything break or need repair, it is not your responsibility to take care of it. You are free to have a transient lifestyle. When you own a home, it will be difficult to decide to spend a year in another state or country. When you rent, all you need to do is give your property owner notice, and move on.
http://www.essortment.com/home/purchasingversu_sdri.htm
Am i prepared to buy a house
Are you prepared to get a mortgage and buy a house? Read on to find out if you're ready for home ownership.
You have decided to buy house. You are probably very excited about the prospect and cannot wait to begin house hunting. Nevertheless, must ask yourself if you are truly prepared. Here is a list of the things you should have in place before you begin searching for your dream house.
Do you have the finances needed to purchase a home? When you go to the mortgage company to for a home loan, they will look at several items to make sure you will be able to pay them back. You need to have a stable employment history in order to prove that you are likely to stay employed in the future. A person who has had long periods of unemployment, for whatever reason, will be seen as a risk. As far as the banks are concerned, past employment is a predictor of future employment.
Your credit score is very important to the banks. This will tell them if you have defaulted on any loans in the past, or if you are already financially over extended. You need to get a copy of your credit report before you consider house shopping. You may want to pay off bills you have long forgotten. You may want to settle an old bill that you were unable to pay previously, for a lower the price. You may even need to fix errors on your credit report. Once all of the negative marks on your credit report are handled, you may still need to wait long enough to show a stable payment history. If you have not paid any of your bills late in a year’s time, and owe nothing on past due bills, your credit score will be favorable enough to buy a house.
In addition to showing that you can repay your mortgage, you must have a down payment, which is a portion of the home price. Depending upon your credit rating and the type of loan you have, you will have to pay between three and twenty percent of the mortgage before you will be able to secure a loan. You may also need to prove that you saved this money and did not borrow it, which will overextend your credit. Having a down payment assures the bank that you will not walk away from the house and the loan because you have invested your own money in it.
Your debt to income ratio is vitally important to the bankers. Ideally, your debt to income ratio should be 28 percent or less. This means that 28 percent or less of you your income should be spent on household expenses. Your total debt should be no more than 36 percent of your income. Debt items include credit cards, personal loans, student loans, and car payments.
Finally, you must ask yourself if you have time to be responsible for a home. Homeowners must take care of maintenance issues, lawn care, seasonal care, and a great many other things that you would not have to do as a renter. If you are an extremely busy person with no time to do anything at home but sleep, you may want to put off your home purchase, or at least buy a town house or condominium.
http://www.essortment.com/home/preparedbuyhou_sdrh.htm
You have decided to buy house. You are probably very excited about the prospect and cannot wait to begin house hunting. Nevertheless, must ask yourself if you are truly prepared. Here is a list of the things you should have in place before you begin searching for your dream house.
Do you have the finances needed to purchase a home? When you go to the mortgage company to for a home loan, they will look at several items to make sure you will be able to pay them back. You need to have a stable employment history in order to prove that you are likely to stay employed in the future. A person who has had long periods of unemployment, for whatever reason, will be seen as a risk. As far as the banks are concerned, past employment is a predictor of future employment.
Your credit score is very important to the banks. This will tell them if you have defaulted on any loans in the past, or if you are already financially over extended. You need to get a copy of your credit report before you consider house shopping. You may want to pay off bills you have long forgotten. You may want to settle an old bill that you were unable to pay previously, for a lower the price. You may even need to fix errors on your credit report. Once all of the negative marks on your credit report are handled, you may still need to wait long enough to show a stable payment history. If you have not paid any of your bills late in a year’s time, and owe nothing on past due bills, your credit score will be favorable enough to buy a house.
In addition to showing that you can repay your mortgage, you must have a down payment, which is a portion of the home price. Depending upon your credit rating and the type of loan you have, you will have to pay between three and twenty percent of the mortgage before you will be able to secure a loan. You may also need to prove that you saved this money and did not borrow it, which will overextend your credit. Having a down payment assures the bank that you will not walk away from the house and the loan because you have invested your own money in it.
Your debt to income ratio is vitally important to the bankers. Ideally, your debt to income ratio should be 28 percent or less. This means that 28 percent or less of you your income should be spent on household expenses. Your total debt should be no more than 36 percent of your income. Debt items include credit cards, personal loans, student loans, and car payments.
Finally, you must ask yourself if you have time to be responsible for a home. Homeowners must take care of maintenance issues, lawn care, seasonal care, and a great many other things that you would not have to do as a renter. If you are an extremely busy person with no time to do anything at home but sleep, you may want to put off your home purchase, or at least buy a town house or condominium.
http://www.essortment.com/home/preparedbuyhou_sdrh.htm
Suggestions to help your home sell fast
Follow these helpful tips and suggestions to sell your home and property fast! Included are tips for showing, cleaning, designing, and decorating the house.
The decision to put your home on the market is not always an easy one. What’s even more difficult is finding the right buyer for your home once you decide to sell. Depending on where you live, the market can be very sluggish at times.
One factor that can affect the sale of a home is the asking price in comparison to the average income of the area. If your home is one of the highest priced in the area, you may have trouble finding a buyer. Not only will you have a hard time finding someone who can afford the home, someone who can afford it may not want a home in an area of lower priced dwellings. That’s not to say you would never find a buyer for your house. However, you might have to ask less than the appraised value in order to sell the home.
There are several things you can do to help your home sell fast. First of all, take a look at your yard. If you were in the market for a home, would your property look appealing if you were driving by? Clear your yard of any clutter and debris. Mow the lawn on a regular basis, and consider adding some colorful flowers or other landscaping to make it more appealing to prospective buyers. Give the home a fresh coat of paint if need be. Give the home the curb appeal it needs to spark interest in the property. A home that is unappealing on the outside won’t generate many appointments to view the inside.
How about the condition of the walls inside your home? If you chose brightly colored hues for your walls, you may want to consider repainting them with more neutral colors. Prospective buyers may not like “princess pink” or “brilliant blue“. In addition, a fresh coat of paint will give a crisp clean appearance to walls and cover up any smudges and fingerprints. The fresh paint will also make your home smell new again.
If your carpets are worn to a frazzle you should consider replacing them. Although this can be quite expensive, doing so might make the difference between selling, not selling, or having to drop the price because of worn carpets. This doesn’t mean you have to buy the most expensive carpets and padding. Replacing worn carpets with cheaper carpets and padding is better than leaving old ones in place for prospective buyers to see. The main difference between cheaper and more expensive carpets is how well they wear, and you won’t need to be concerned about long-lasting carpets once you’ve sold the home.
Clean out your closets, cabinets, and storage areas. If they are full, the home will appear to have less than ample space. Rent a storage unit if necessary in order to make the home look more spacious. If it appears that you don’t have enough room, potential buyers will think the home isn’t adequate for their needs either.
If you’re working with a realtor, he or she will initially go through your home and make suggestions according to your individual circumstances. The realtor can tell you what needs to be done in order to increase the likelihood of a quick sale.
Get ready for a showing by giving the home a thorough once over and picking up any clutter. Most importantly make sure the major areas of the home are clean. Although a clean home makes for a better showing, dusting should be your last concern. Prospective buyers are there to see the condition of the components of the home, not how well you dusted the night before.
When it’s time to exhibit the home it’s best not to be present for the showing. Prospective buyers are more likely to take their time and look around if they don’t feel they’re being watched. Your realtor will later provide you with information on the showing including comments made by prospective buyers.
Don’t be discouraged if your home doesn’t sell right away. There is a buyer for every home and a home for every buyer. If your home is priced fairly, eventually the right person will come along and make your house their very own home sweet home.
http://www.essortment.com/home/suggestionshelp_sfbr.htm
The decision to put your home on the market is not always an easy one. What’s even more difficult is finding the right buyer for your home once you decide to sell. Depending on where you live, the market can be very sluggish at times.
One factor that can affect the sale of a home is the asking price in comparison to the average income of the area. If your home is one of the highest priced in the area, you may have trouble finding a buyer. Not only will you have a hard time finding someone who can afford the home, someone who can afford it may not want a home in an area of lower priced dwellings. That’s not to say you would never find a buyer for your house. However, you might have to ask less than the appraised value in order to sell the home.
There are several things you can do to help your home sell fast. First of all, take a look at your yard. If you were in the market for a home, would your property look appealing if you were driving by? Clear your yard of any clutter and debris. Mow the lawn on a regular basis, and consider adding some colorful flowers or other landscaping to make it more appealing to prospective buyers. Give the home a fresh coat of paint if need be. Give the home the curb appeal it needs to spark interest in the property. A home that is unappealing on the outside won’t generate many appointments to view the inside.
How about the condition of the walls inside your home? If you chose brightly colored hues for your walls, you may want to consider repainting them with more neutral colors. Prospective buyers may not like “princess pink” or “brilliant blue“. In addition, a fresh coat of paint will give a crisp clean appearance to walls and cover up any smudges and fingerprints. The fresh paint will also make your home smell new again.
If your carpets are worn to a frazzle you should consider replacing them. Although this can be quite expensive, doing so might make the difference between selling, not selling, or having to drop the price because of worn carpets. This doesn’t mean you have to buy the most expensive carpets and padding. Replacing worn carpets with cheaper carpets and padding is better than leaving old ones in place for prospective buyers to see. The main difference between cheaper and more expensive carpets is how well they wear, and you won’t need to be concerned about long-lasting carpets once you’ve sold the home.
Clean out your closets, cabinets, and storage areas. If they are full, the home will appear to have less than ample space. Rent a storage unit if necessary in order to make the home look more spacious. If it appears that you don’t have enough room, potential buyers will think the home isn’t adequate for their needs either.
If you’re working with a realtor, he or she will initially go through your home and make suggestions according to your individual circumstances. The realtor can tell you what needs to be done in order to increase the likelihood of a quick sale.
Get ready for a showing by giving the home a thorough once over and picking up any clutter. Most importantly make sure the major areas of the home are clean. Although a clean home makes for a better showing, dusting should be your last concern. Prospective buyers are there to see the condition of the components of the home, not how well you dusted the night before.
When it’s time to exhibit the home it’s best not to be present for the showing. Prospective buyers are more likely to take their time and look around if they don’t feel they’re being watched. Your realtor will later provide you with information on the showing including comments made by prospective buyers.
Don’t be discouraged if your home doesn’t sell right away. There is a buyer for every home and a home for every buyer. If your home is priced fairly, eventually the right person will come along and make your house their very own home sweet home.
http://www.essortment.com/home/suggestionshelp_sfbr.htm
How to sell your home in a hot housing market
In a hot housing market you have to do your best to help your home rise above the rest and appeal to as many prospective buyers as possible.
In a hot real estate market there are many properties competing for those currently looking to purchase a home. If you want your home to stand out in the crowd, there are a few things you can do.
- Set a competitive price. This is not the time to test the waters and see how much money you can get. You either want to sell or you don’t. Don’t waste your agent’s, prospective buyers' and your valuable time by putting your home on the market unless you are serious about selling. And if you’re serious, you’ll sit down with your agent and look at what’s sold recently in your area. This will give you a good idea of what you can possibly sell your home for. Then you can set your price accordingly. Keep in mind that by pricing it right, you also bring in the buyers looking in that price range. If you set the price too high, you may be missing out on the buyers who are not searching in that price range.
- Be flexible. It’s relatively easy for a buyer and a seller to agree on a purchase price. Things get sticky when you start negotiating the seemingly smaller details of the transaction. The more flexible you are in regards to the transaction, the more buyers you are open to working with. Think about how flexible you can be in terms of a closing date. Are you ready to move out within 2 weeks if the right buyer comes along? Are you willing to wait 3 months if the offer is right? What type of financing are you open to accepting? Are you willing to leave behind that large wagon wheel in the front yard that the buyer loved so much? If a buyer has to choose between your home and a neighbor’s, if you are more flexible, it’s likely that you will get the deal.
- Don’t forget that looks count. Plenty of people drive right up to your home and can dismiss it without a second thought. It may be magnificent inside, but if the curb appeal just isn’t there, you will get a lot of drive-bys and no offers. Talk to your agent. Talk to your neighbors. Do the basics like weeding, sweeping and de-cluttering. Then look at the landscape. Does it need a little sprucing up? What about the house itself? Does it need a fresh coat of paint? Try to look at it objectively. You’ve lived there and are much more willing to forgive your home for its poor looks. A prospective buyer won’t feel the same. Your home is in a beauty pageant whether you like it or not, and you need to dress that home up and go for the crown – a deal that works for you and the buyer.
- Be active in the marketing of your home. Don’t leave all the marketing to your agent. Tell everyone you know that your home is on the market. Get some flyers from your agent and put them up at work or church or other local bulletin boards. Send out emails and pictures of your home. Finding a buyer can be a numbers game. The more people that learn about your home on the market, the better likelihood you will find a buyer. And believe it or not, people still connect with other people. You are the best salesperson for your home. You are the one who lived in it. You can tell the buyer all the ins and outs of the property and the neighborhood. Your agent is a great tool, but you are still the crux of the deal. Buyers love to talk to sellers to get a feel for what they might be getting themselves into. The more accessible you are, the better chance you’ve got of making a good deal.
http://www.essortment.com/home/sellhomehotho_sepo.htm
In a hot real estate market there are many properties competing for those currently looking to purchase a home. If you want your home to stand out in the crowd, there are a few things you can do.
- Set a competitive price. This is not the time to test the waters and see how much money you can get. You either want to sell or you don’t. Don’t waste your agent’s, prospective buyers' and your valuable time by putting your home on the market unless you are serious about selling. And if you’re serious, you’ll sit down with your agent and look at what’s sold recently in your area. This will give you a good idea of what you can possibly sell your home for. Then you can set your price accordingly. Keep in mind that by pricing it right, you also bring in the buyers looking in that price range. If you set the price too high, you may be missing out on the buyers who are not searching in that price range.
- Be flexible. It’s relatively easy for a buyer and a seller to agree on a purchase price. Things get sticky when you start negotiating the seemingly smaller details of the transaction. The more flexible you are in regards to the transaction, the more buyers you are open to working with. Think about how flexible you can be in terms of a closing date. Are you ready to move out within 2 weeks if the right buyer comes along? Are you willing to wait 3 months if the offer is right? What type of financing are you open to accepting? Are you willing to leave behind that large wagon wheel in the front yard that the buyer loved so much? If a buyer has to choose between your home and a neighbor’s, if you are more flexible, it’s likely that you will get the deal.
- Don’t forget that looks count. Plenty of people drive right up to your home and can dismiss it without a second thought. It may be magnificent inside, but if the curb appeal just isn’t there, you will get a lot of drive-bys and no offers. Talk to your agent. Talk to your neighbors. Do the basics like weeding, sweeping and de-cluttering. Then look at the landscape. Does it need a little sprucing up? What about the house itself? Does it need a fresh coat of paint? Try to look at it objectively. You’ve lived there and are much more willing to forgive your home for its poor looks. A prospective buyer won’t feel the same. Your home is in a beauty pageant whether you like it or not, and you need to dress that home up and go for the crown – a deal that works for you and the buyer.
- Be active in the marketing of your home. Don’t leave all the marketing to your agent. Tell everyone you know that your home is on the market. Get some flyers from your agent and put them up at work or church or other local bulletin boards. Send out emails and pictures of your home. Finding a buyer can be a numbers game. The more people that learn about your home on the market, the better likelihood you will find a buyer. And believe it or not, people still connect with other people. You are the best salesperson for your home. You are the one who lived in it. You can tell the buyer all the ins and outs of the property and the neighborhood. Your agent is a great tool, but you are still the crux of the deal. Buyers love to talk to sellers to get a feel for what they might be getting themselves into. The more accessible you are, the better chance you’ve got of making a good deal.
http://www.essortment.com/home/sellhomehotho_sepo.htm
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