10 Tips to New Investors

​​Spring and early summer is a busy time for buyers and sellers in the real estate market. Warm weather and long days encourage potential buyers to get out and look for a home that fits their needs and budget.

Sellers take advantage of lower-cost seasonal flowers and easier working weather to boost the curb appeal of properties they plan to put on the market. For investors, this can be a very busy time to both buy and sell.

Buying Tips

1. Credit Health Check. If you plan to finance your home purchase, check your credit history, especially if you’re a first-time buyer. That way, you can correct any errors and take measures to boost your credit scored. Try Annualcreditreport.com
2. Mortgage Pre-Approval. Early in your search, meet with a mortgage lender who will take a look at your credit history, your savings and investment statement and your current financial situation and give you a better picture of what you can afford and the financing options available.
3. Budget Establishment. Whether you’re financing your purchase or paying cash, it helps to establish a budget. This will help you focus your search on great homes within your price range.
4. Rely on Lists. Buying a home is a process of elimination, not a process of selection. Make a list of your ideal home’s must have s and deal breakers. This will help you to narrow your search so that you can find a home that fits your current and future needs.
5. Think about Resale. The average homeowner lives in their home for nine years. While you may purchase your home as a long-term investment, keep in mind that you may need to sell one day. Consider the homes resale value when you’re looking at properties.

Selling Tips

1. Reduce Junk. Before you put your home on the market, clear the clutter that’s accumulated over the years. Tackle one room at a time and divide your item into three piles: keep, donate and toss.
2. Get Packing. Although you don’t want to pack all of your belongings, it helps to start boxing up the items that you want to keep, but won’t use for a while such as out of season clothing or sporting equipment.
3. Local Market Research. Knowing how much the homes in your neighborhood are selling for and how long the stayed on the market can help you gauge your home’s value and estimate time from for the sale.
4. Improvements. Boost the overall curb appeal by completing all the minor repairs and improvements to the front door, walk way and front yard. Getting the Buyers to the front door without a complaint is a major victory. Clean the simple things like the windows, floors and toilets.
5. Repairs. Tackle any necessary repairs inside and remember to paint with neutral colors, replace damaged light fixtures and appliances. Check for windows that open hard, doors that creak or cabinets that don’t close all the way and repair them before the house is shown.
6. Be realistic. While it’s good to get a feel for the local market, be realistic about the selling process. Having realistic expectations for your home sale will help to relieve some of the stress.