AT HOME HOMEWISE
H SUNDAY,July JULY24, 12, 2015 Sunday, 2016
Tips and tools to guide you through the home buying, selling and remodeling process AT HOME: Tips for sellers
Maximize Your Housing Dollars Before the yard sign goes up Maximize Your Housing Dollars Real Estate Tips and Advice
dues and homeowner’s insurance. More house: It can mean different Cutting some of these monthly costs things to different people. Maybe can leave more room in your monthly you’ve had your eye out for a deal By Lee Enterprises newspapers and The Associated Press payment a higher purchase on aMore chic house: condo downtown or are It can mean different to save for by choosing a home inprice. a differFor example, if you don’t have hunting for an original craftsman in any may believe the start of selling a house begins when the “For Sale” goes up in the yard. But really, the process begins several things to different people. Maybe ent school district than your target children orParents your on children have left the the historic Maybe your you’ve haddistrict. your eye out for a deal a a picture in the newspaper. Here are six moves to make before putting market. often willing to pay steps before a yard signon and your house theare market. nest, considerfor how muchinyou might be family is growing and youorsimply chic condo downtown are hunting a premium homes a great school able to save by choosing a home a need more space. for an original craftsman in the historic district, which can inflate pricesininside different school district than boundaries. your target If No matter whatyour typefamily of house district. Maybe is growing a highly coveted district’s market. Parents are about willing schools, to pay you’re after, there need are strategies that and you simply more space. you don’t haveoften to think a premium for homes in adollars great school can No help you stretch yourof housing matter what type house you’re your monthly housing can Set up interviews with several real estate The National Association of Home district, which inflate prices dollars afford or upgrades after, to there aresize strategies that can probably buycan “more house” ininside neighagents before choosing one.help Here are some Inspectors recommends checking with youra highly coveted district’s boundaries. If you have thought were out youmay stretch your housing dollars to boring lower listing prices. of the questions that theofNational Associastate to see ifareas homewith inspectors are licensed. you don’t have to think about schools, reach. tion Realtors you recommends: NAHI recommends checking the credentials afford size or of upgrades may have Similarly, consider the cost of homeyour monthly housing dues. dollars can What of marketing proposals does and professional affiliations withDepending anyone thought were outkind of reach. owner’s association this Realtorenvision? before them check your home. probably buy “more in The Get your hands dirty onletting the services thehouse” association pro What’s the average time on market? standard inspection usually includes: neighboring areas with lower listing A home that needs remodeling is GET YOUR HANDS DIRTY vides to homeowners, monthly dues How does the brokerage its Home exterior prices. likelyA to come with a lower asking support home that needs remodeling is for condos and townhouses can get Realtors? Building foundation Similarly, consider of thedollars. cost ofIf you’re price, may be aable to asking afford likelysotoyou come with lower into the hundreds Is the Realtor a Exterior home walls homeowner’s association dues. a price, biggerso home or one in a better you may be able to afford a or part-time willing to do flashing your own yard work or full-time Roof coverings, and gutters Depending on the services the location if you’re thrifty with the © THINkSTOCk bigger home or one in a better location snow removal, look for a community professional? Roof support structure association to homeowners, repairs. Shave offwith dollars and Iflong youhave dream big, consider strategies that can help you afford more house. if you’re thrifty thehere repairs. Shave with lowerprovides association fees, which may How they Attic © FOTOLIA monthly duesinsurance for condos and there by doing some the by work been Basement off dollars here and of there doingin the realIfestate only cover for common you dream big, consider strategies that can help you afford more house. townhouses can getroofs. into the hundreds yourself. skills, such asSome industry? Insulation quality some ofSome the work yourself. skills, areas and shared How often Garage hand than wait a month or more for a of dollars. If you’re to do area your it altogether by making a down painting tiling a floor, make for easy such asorpainting or tiling a floor, make Property taxes willing are another would they expect Electrical mortgage to be approved yardyour workmonthly or snowpayment removal,can looktake of at least percent. If your weekend will save for easy projects weekendthat projects thatyou will save buyer’s work buying more20 house — an addi- own where some long-term planning, but if may you’re payment to hold an open Visible interior andwith exterior plumbing bepatient willing and to negotiate a lower price for budget fora ahit. community lower association for a newinhome is $200,000, loads in labor. For example, the cost you loads in labor. For example, theof house? tional $35,000 purchase price — for In some areas of the country, you disciplined about socking Central air and heating system Word-of-mouth. It still works, especially the privilege. This strategy will take fees, which may only cover insurance PMI would cost aboutpayment. $142 perThat’s month. tiling bathroom could be in the be in costaof tiling a bathroom could the same monthly not can pay as much as 4 percent of the away money, you probably will score a How when it comes to selling homes. You never some butfor ifwho you’re forhome’s common areas and shared roofs. Eliminating by putting 20 thousands if youifhire pro,abut the thousands youahire pro,you but you long an amount of money value in property taxes each deal on a homeplanning, with space theis looking is long-term an know — insignificant friends,it friends of down patient and disciplined about socking Property taxes are another area percent will allow you to put that $142 can learn these skills yourself from can learn these skills yourself from when it comes to affording the size, year. If you’re happy with what you get home office you’ve always wanted or a members. agent’s friends and family away youfor probably willsure score a your your — monthly can schools take tolocation work buying more house — anOnce where online how-to videos or or tutorials on on bigbig listing Be to help Realtor and help online how-to videos tutorials or upgrades you want. in return maybepayment great roads, largemoney, backyard the vegetable garden deal on a home with space for the a hit. In some areas of the country, you additional $35,000 in purchase price — box home improvement store websites contract? yourself when you’re selling. box home improvement store websites of your dreams. again, having cash in hand can help that don’t disappoint and a wealth of Make sure you let your acquaintances home office you’ve always wanted or a can pay as much as 4 percent of the for the same monthly payment. That’s and easily do it yourself for a few and easily do it yourself for a few hunyou do more with your housing budpublic parks and open space — you know your house is going on the market. for the vegetable home’s in property eachBut if not an insignificant amount of money hundred dollars materialsand andsupplies. large backyard AVOID dred dollars in in materials get. PMI might value be willing to pay taxes the price. Make sure you include the thingstoyou love the size, garden of your dreams. year. If you’re happy with what you get when it comes affording supplies. The same goes for laying The same goes for laying wood floors Private mortgage insurance — you’d rather trade in those perks for about the house orlocation the location. in return — maybe great roads, schools or upgrades you want. Once wood floors or a paver patio. Just or a paver patio. Just remember to required on all loans for Be which the ALLorYOUR EXPENSES space, search nearby areas for a propsure to include aCONSIDER link to the listing don’t disappoint and a wealth of again, having cashhousing in hand expenses can help are that remember to complex leave more complex leave more such asjobs, elecbuyer makesavoid a downPMi payment of less about Your erty tax deal. any information openmonthly houses. In additionjobs, to requesting a competitive public parks and open spacetax — you Private mortgage insurance — you do more with your housing budget. such asand electrical and plumbing, to the trical plumbing, to the pros to than 20 percent — can zap your home made up not only of your mortgage For example, a property bill in market analysis, a report prepared by your be willingarea to pay But all loansrates for which thewere pros to avoid making potentially avoid making potentially expensive — required budget. Although for PMI payments including principal, interest might the Chicago canthe runprice. $8,000 onif a Realtor of comparable area properties, here on ratherhome. trade in those perks drive for buyer makes a down payment of.85 less exPenses expensive — or dangerous — are some other important questions to conor dangerous — mistakes. reduced in early 2015 to about per- consider and PMI, butall alsoyour of property tax pay- you’d $200,000 Just an hour’s Your monthly housingassociation expenses are nearby areas for a$200,000 than 20ofpercent — can zap your on home mistakes. sider with your agent: cent the remaining balance the ments, homeowner’s dues space, away search in southern Wisconsin, What is the average number of days on Show off the space in your made up not only of your mortgage property tax deal. budget. Although rates for PMI were mortgage each year, you can avoid it and homeowner’s insurance. Cutting can buy a larger homehouse. or one with DEAL IN CASH the market? This will indicate how quickly If walls rooms many personIf you’re looking to sell a house, you’re payments including principal, interest deal in cash reduced in early 2015 to about .85 altogether by making a down payment some of these monthly costs can leave moreand land, andhave the too property tax bill Everyone knows cash is king, and a the average property sells. alized things, like pictures or knickknacks, probably looking forPMI, a newbut one.also In addition Everyone knows cash is king, and a and of property tax percent of the remaining balance on of at least 20 percent. If your budget for more room in your monthly payment could be only about $3,000. That’s seller who’d rather have cash in his What is the median This tells getting current loan payoff amounts, it’s association it makes it difficult for prospective buyers to seller rather cash inhome hisforprice? payments, homeowner’s mortgage each year, youto can avoid a new a your higher purchase $416 a month in savings for more handwho’d than wait a have month or more a the you where the “middle of the market” is. home is $200,000, PMI see themselves in a house. alsowould a good idea tofor pick banker’s brain.price. cost about $142 per month. Mortgage lendersFor if you house a win-win that leaves buyer’s mortgage to be approved may What does the competitive market sure— closets and storage rooms more feel haveexample, an excellent feel don’t have chil- Make it by putting down 20 perdren or They your underchildren have left the nest, your hard-earned dollars in your be willinganalysis to negotiate lower priceRemember, for Eliminating suggesta for pricing? you open,ofnot stuffed full of junk. for local housing markets. can ask any price you want, a storage unit or downsize before stand successful price points, as well as you might be able Rent cent will allow you to put that $142 to consider how much pocket. the privilege. This strategy will takebut the longer a property sits on the market, the tougher it listing a home. loan programs that may help potential can be to sell. Consider a staging expert. These home buyers. What is the average days-on-market for And, if you’re looking to move out of designers can help prepare a home for selling my price range? the area, downsizing or upsizing, a lender by arranging furniture, decluttering a house, Are there any incentives that could be can help you find a new loan program and or even renting furniture and other items offered? For example, a home warranty or a determine what options are available to that help modernize a home or increase its flooring allowance that may entice buyers? make that next step. appeal.
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