first time home buyer Archives - Maura Allard Realtor

In a seller’s market, standing out is key to attracting top-tier buyers, receiving numerous above-offer bids and securing a final sale with the family of your dreams for top dollar. If right now is the right time for you to sell, but you’re unsure if your home is ready for the big market, don’t stress it, follow my simple tips to ensure your home is in sparkling seller shape.

If you want to increase your chances of selling your home quickly and profitably, preparation is key. Before you decide on listing your home and posting the “For Sale” sign on your front lawn, consider these 10 tips to maximize exposure and increase buyer interest.

1. Do your homework.

Knowing your area ahead of time is essential to getting the biggest bang for your buck. Understanding things like: what other homes are selling for in your immediate area, what’s bringing your buyers to your specific neighborhood and overall market trends in your zip code will give you a leg up in your target market. Don’t shy away from attending local open houses for homes of comparable size and amenities in your neighborhood. This allows you to have your finger on the pulse when it comes to buyers’ wants and needs. Before deciding on a listing price for your home, it’s important to have a basic understanding of homes in your area, so, do your homework.

2. Find the perfect listing agent in your area.

Agents can make or break your home sale. It is imperative that you find someone who understands your wants and needs when it comes to selling your home. Your agent should be well-versed in the market trends and have deep roots in your neighborhood to understand the buyer trend at the moment. Although word-of-mouth recommendations can help sell your home, it is best to enlist a licensed real estate agent to smooth through the selling process more easily. When interviewing potential selling agents, top contenders should have a thorough plan mapped out for how they will successfully sell your home. Don’t hesitate to ask questions that are important to your specific home sale. Choose an agent that understands your goals and has a solid plan to achieve them.

3. Clean your home from top to bottom.

Whether it’s a date or a job interview, first impressions are everything! This same sentiment holds true when it comes to selling your home. Before you list your home (and at various times between showings) it’s important to clean your home from top to bottom. Put your best foot forward by showcasing your home in tip-top shape. Clean the floors, wash the walls and baseboards, vacuum the rugs, clean out the pantry and wash the windows. Focus on the bigger picture when it comes to cleaning and your buyers will notice. Bonus: add in scent warmers or air fresheners throughout to give your home extra appeal upon entry.

4. Declutter.

For more people, clutter equals anxiety. It also exudes the idea that the current owners could be unorganized and chaotic, which is a big turnoff to potential buyers. When a home is free from clutter, buyers are able to travel from room to room with full focus and attention on the house itself, instead of the mess in their faces.

Consider purging and tidying areas such as:

Pantry
Closets
Cabinets
Refrigerator
Outdoor sheds
Garage
Basements and/or attics

5. Take care of minor repairs ahead of time.

There may be nothing worse than potential buyers getting let down on their expectations of your home. Before you list, take care of minor repairs so they don’t have to worry about them as they tour your home. Consider fixing things like leaky faucets, grout, door locks and handles, lightbulbs and running toilets. These minor repairs can make a major difference on whether you receive an offer on your property or not.

6. Paint!

Neutral tones are key when it comes to selling your home and opening up your home to potential buyers. Stay away from bright and eclectic colors and opt for a muted color palette. It’s always best to stick to colors like white, off-white, beige, grays and taupes. Bright colors can become easily distracting, speaking louder than the home itself. Painting the walls in your home, even if they’re neutral already, will also cover up minor blemishes like holes from nails, scratches or chips in the paint color. A fresh coat of paint is inexpensive and worth its weight in gold.

7. Get professional photos taken.

Photos make a huge impression on a potential buyer long before they step foot in your home. Professional photos may be the best option to showcase your home if you feel as though your photo skills are subpar. Talk with your realtor about the best options available to you for your photos when it comes to your live listing. It’s important to include high-quality photos with your listing. They will lead to higher lead generation and more interest in your home.

8. Depersonalize your space.

Showcasing your home requires the perfect balance of depersonalization and an environment that feels inviting and warm to all who enter your place. It’s okay to have some personal items in your home (especially if you still live there), but don’t go overboard with the personalization. Downsize the amount of photos and albums throughout your home, leaving just a few great shots around to make the home feel lived in. Take down things like detailed calendars, bulletin boards, work information in your home office and personal mail or bills from your countertops. Store away your personal items in a small safe or file cabinet for safe keeping.

9. Know your selling goals.

Before you focus on the aesthetics of your home, you must focus on your individual selling needs and goals. Work with your realtor to determine what your main goals are and what you need to accomplish with the sale of your home.

Focus on questions like:

When do I want to sell my home?
Where do I plan to live after my home sale? Do I need to purchase a home?
Do I need a short or extended closing date?
Ideally, what profit am I hoping to make on this sale?
Will I cover closing costs?
What contingencies are most appealing to me?
Am I willing to work with all loan types?
What will I include in my sale? Appliances? Furniture?
What am I willing to fix when it comes to home inspections?
What matters to me about the new buyers?

10. Plan your move.

Planning out your next steps is just as important as planning to sell your home. Before your listing goes live you must have a solid plan in place to secure your own future. Some of the best ways to plan your move is to understand where your next residence will be and how you plan to secure that place, cost of moving, assistance with moving your things and timeframe in which you need to comfortably move yourself and your belongings. Remember that you are in control of your sale and can set the expectations for your buyers ahead of time. Allow yourself enough time and patience to move forward in a relaxed and secured state post-sale.

If you’re looking to take advantage of the current seller’s market, now may be the right time to dive headfirst into selling your home. I would love to help you navigate the waters to understand if now is the right time for you to sell in your current market. Contact me today.

When it comes to purchasing a home, a mortgage pre-approval is often the first step in your process. It is nearly impossible to begin your home search without understanding the amount of money you qualify for. No matter the type of loan you decide to use, from VA to conventional or FHA, all mortgage lenders can (and should!) provide you with a pre-approval to use as the basis in your home purchase search. With this in hand, you can confidently work with a realtor to scope out and secure the home of your dreams.

A mortgage pre-approval dictates your purchasing power.

In short, a mortgage pre-approval is an official letter that you receive from a lender that advises the max amount of money you can borrow for the purchase of a home. It shows realtors and sellers that you have been vetted and are pre-approved for a home loan. This provides security for all parties involved. Most lenders use the terms, “preapproval” and “prequalification” interchangeably when it comes to a borrower’s purchasing power, but there may be a slight difference that you want to look into. Typically, pre-approvals require a more in-depth review of a borrower’s credit history and financial health. With prequalifications, some lenders don’t require a full credit review prior to providing you with their prequalification letter. It is best practice to stick to one that reviews your financial health to set you up for the best home purchase success once you decide on a home to put an offer in on.

Mortgage pre-approvals require personal information.

In order for lenders to make a reasonable decision on your pre-approval request, personal information must be provided and reviewed securely by your lending institution.

Some of the most standard and requested information includes:

Credit history
Proof of income
W2’s for the last two to three years
Pay stubs
A copy of your identification (license or state ID card)
Bank statements
Social security card
Asset list
Debts to determine your debt to income ratio

Pre-approvals are not indefinite in their timeframe.

Although pre-approvals are the best way to secure your stance in the real estate market as a buyer, they don’t last forever. Going into the purchasing process knowing what you want in a home is important to beginning the search, even prior to your pre-approval receipt. Once you decide on purchasing a home sit down and make a checklist of what you need prior to seeking outside assistance from a lender and realtor. Include a pre-approval on your list of must-haves along with your dream home needs. Remember that it’s also important to have all documentation ready to go prior to meeting with your lender. This keeps things moving and keeps everyone involved more organized. As you search for your home, be concise in your decisions while keeping your pre-approval letter in mind. Typically, pre-approval letters are good for 60 to 90 days from issuance, but it varies by state. Check with your lender to ensure the exact timeframe on your pre-approval and request what additional steps need to be taken if you go past that timeframe without securing a home.

There are many factors to consider when deciding to purchase a home. Whether it’s your first home or your tenth, a mortgage pre-approval is key to your leverage and security in the purchasing process. If you think now is the time for you to buy the home of your dreams, let’s work together and start your pre-approval process and home buying checklist today.