Today we share three must do’s when it comes to selling your home. These tips will help prepare yourself and your home for a smooth home selling experience.
Choose a Listing Agent with experience, Triple E Realty can help you knock that task off your list with our experienced team of real estate experts. Our Realtors will help you find out how much your home is worth and share with you the advantages of having an appraisal done before putting your home on the market for sale.
A seller's greatest mistake is often overpricing their home. Keep your price in line with sold homes that have been identified in a comparative market analysis report. Consider whether your market is hot, cold, or neutral and price according to the market temperature.
How to pay for improvements that increase value - When thinking about how to increase home value, root your expectations in reality. Updates rarely recoup 100% of their cost, but they can make your family more comfortable and even help your home sell faster. If you can’t pay for home improvements in cash, be sure to choose the right method of financing for you.
Credit card: Putting home renovations on a credit card may be OK as long as you’ll be able to pay off the entire balance in a short amount of time.
Personal loan: If you don’t have enough equity for a home equity loan or HELOC, consider a personal loan. The interest rate will be higher than home-equity-based financing, but lower than a credit card in most cases.
Home equity loan or line of credit: These second mortgages turn your home’s equity into easily accessible funds. Home equity loans payout in a lump sum while home equity lines of credit, or HELOCs, are a line of financing you can borrow against over time. Both home equity loans and HELOCs have interest rates, fees, monthly payments and tax advantages to consider.
Cash-out refinance: This popular refinance option may be a good fit if you want to tap equity but don’t fancy a second mortgage. Of the 36% of homeowners who reported taking a cash-out to refinance in the NerdWallet survey, over half (52%) used the funds for home improvements and repairs. A cash-out refinance doesn’t make sense if your equity is limited or current cash-out mortgage rates are higher than your existing rate. – According to Nerd Wallet
