New year, fresh possibilities. And if you're a homeowner considering selling, you might be surprised to learn that the start of the year is also an ideal time to list. Listing your home at the beginning of the year can give you a competitive edge, get ahead of the market, and attract serious buyers—all of which can potentially lead to a faster, smoother sale.
Once you have the frequently used areas unpacked, you can then move on to tackle the less important rooms, such the garage, basement, patio or balcony, guest bedrooms, and other utility areas. For the garage, prioritize any tools and materials you'll need to keep your home functional. Items for the patio, deck, or balcony can be set up at your leisure, depending on the season you’ve moved. For instance, if you’ve relocated in the summer, it’s a good idea to set up the barbecue grill fairly early so you can have an extra space to cook. If you work from home, setting up your home office is definitely a priority. If your new home has a mudroom and you’ve relocated in the fall or winter, consider dealing with it as soon as possible so that people can easily remove their shoes and coats before coming into the house.
In this approach, instead of outright accepting and extending the closing day date, you are adding conditions like daily fees, increased earnest money, or cost coverage to protect your finances. This keeps the deal alive without putting you at a disadvantage. A ‘per diem' penalty What it is: You’re granting the buyer an extension, but with the contingency of a per diem penalty. A per diem penalty is a fee charged to the buyer, both for the inconvenience of delaying the closing and to help cover the additional mortgage, tax, insurance, and utility payments the seller needs to make as a result of the postponed date. The per diem penalty usually adds up to one-thirtieth of your monthly housing expenses. Pros: It covers your extra costs brought about by the delayed closing. Cons: It could be risky if the buyer is already financially strapped. They may walk away from the deal, so be flexible and open to negotiations. Best for: Sellers who are impacted by the extra costs after the closing date is extended. Adding a ‘Time is of the essence’ clause What it is: Unfortunately, there's no limit on the number of times a buyer can ask for an extension on the closing date. In this case, you can give the buyer one last chance and grant an extension that includes a “time of the essence” clause. With this clause, both you and the buyer decide on a hard closing date, and if the buyer doesn't meet this deadline, the seller can walk away from the sale. Pros: This contingency creates urgency for buyers, setting you to close by a certain date before your patience reaches the end of its rope. Cons: If the buyer doesn’t meet its hard deadline, the deal may fall through. Best for: Sellers who are willing to offer one last chance for an extension
Another reason buyers might want to delay closing is that they are having trouble closing on their current home. If they're relying on proceeds from their home sale to finance their new purchase or make a down payment, they might need to ask for an extension.
Lastly, another red flag to look out for during an inspection is signs of termites, mice, carpenter ants, and other pests around the home. These pests are not only annoying but can eventually cause structural damage, deterioration, and health risks. Warning signs to look out for: Chewed vents, gnaw marks, droppings, or nests Wood that produces a hollow sound when tapped Mud tubes running from the foundation to the walls Crumbling and soft areas of wood near the foundation and attic Home inspection reports indicating termite infestation should ring a bell, as these pests may be tiny but can inflict serious damage on property structures. And exterminating them is just the first step. Termite damage repair expenses can range from $3,000 to $4,000 on average, depending on the extent of the damage. How to handle home inspection red flags When your inspection report reveals major problems and other potentially concerning issues in the home you're looking to buy, don’t fear, as you still have several options. The best thing to do is to consult licensed professionals for supplementary assessments and get help from your real estate agent to navigate the next steps. Then you can: Negotiate with the seller to pay for repairs, especially for those safety hazards; or Request a price reduction to cover repair costs. Walk away from the deal if the issues are too severe or overwhelming for you. While no home is perfect, understanding these red flags can help you make an informed decision about which issues are manageable for you, and which could be absolute deal-breakers. These may all depend on your timeline, financial situation, and risk tolerance.
Make the most out of this season by creating a warm and inviting home. Because let's be honest, if there is one thing that truly resonates with fall, it is coziness. So add in some throw pillows, blankets, table runners, and rugs in fall-inspired hues and patterns to provide warmth and texture to your space. Showcase seasonal cookbooks and decorations on any open shelves. Decorate your entryway, porch, and fireplace with fall items such as pumpkins, gourds, and colorful greenery. Using wallpaper or backsplash in warm, earthy tones is also a nice touch. Materials needed: Soft textiles (blankets, rugs, cushions, pillows, drapes, etc), wicker baskets, wood accents, books and magazines, pumpkins and other greenery Average cost: Budget throws and pillows range from $10–25, but you can adjust the cost based on what you need
Photos, videos, and virtual tours—these are all great ways to showcase your house to buyers when selling. However, there's nothing like physically stepping into the home and seeing the condition of the space with your own eyes. This is where showings come in. In this blog, we’ll explore the role of showings and delve into one of the most pressing questions you might have as a seller: how many showings does it take to sell? We’ll break down the average number of showings it takes before receiving a competitive offer, as well as the crucial factors that influence this figure.
Saying that shopping for a home can be overwhelming is an understatement. You must consider various factors, including location, neighborhood, layout, number of bedrooms and bathrooms, and even school districts. Not to mention that you need to evaluate essential features such as storage, amenities, or even finishes on the newly renovated kitchen. But savvy home buyers know that some of the most important things to check are the ones you don't admire at first glance, such as the age of the roof, the stability of the foundation, or, in this case, the condition of the home’s HVAC system.
From properly storing your valuables to securing your home against theft, take note of these simple yet effective tips to protect your space, your sanity, and your biggest investment to avoid costly repairs later on.
Asking the right questions is crucial, especially when plunging into homeownership. There's always been a long checklist of questions for you to know and understand every part of the real estate transaction—from your home search, inspection, up until closing or even beyond. There are also many insightful questions geared towards your mortgage broker, real estate agent, home inspector, and other professionals that are part of the homebuying process. But how about “soul searching” questions you should be asking yourself first? Many times, these questions are often overlooked simply because they can make you feel uncomfortable. But the decision to purchase a home, despite being influenced by different factors, is deeply personal and subjective. Hence, it should be taken only after checking everything carefully. And that includes checking within yourself. So, even before starting your home search and hiring a local real estate agent, here are five crucial questions to ask yourself before deciding to buy your first home:
