Selling your home can be an expensive process if you’re not careful. Fortunately, we’re here to help you maximize the value of your home and ensure that you’re able to avoid costly mistakes throughout the home selling process. Here’s a closer look at three costly mistakes that every home seller needs to know about, along with ways to avoid such issues altogether: 1. Selling Your Home Before You Are Qualified to Buy a New One Although you had no trouble buying your current home, the same won’t necessarily hold true when you look to purchase a new residence. For example, your financial circumstances may have changed between the time that you purchased your current home and now. This means that you may struggle to qualify for a home loan in the current economic climate. As such, you’ll want to get pre-approved by a lender before you sell your current house. You also should conduct plenty of research into areas where you may want to live in the future; that way, you’ll be better equipped to buy another house and relocate quickly if a homebuyer wants to purchase your current residence. 2. Guessing the Sale Price of Your Home It is unlikely that what you initially paid for your residence is what it’s worth now. As a result, you’ll want to understand the true value of your home before you add it to the real estate market to optimize the value of your residence. Getting a fair market appraisal will ensure that you can better understand what your home currently is worth. Furthermore, you should consider the upgrades that you’ve made across your home, as these improvements likely will boost your residence’s value. When it comes to the sale price of your home, why should you be forced to leave anything to chance? Instead, do your homework so you can determine the optimal sale price, i.e. a sale price that highlights your home’s true worth and will make your residence an attractive option for homebuyers. 3. Understanding the Stress Associated with the Home Selling Process A calm, cool and collected approach to selling your home often is ideal, particularly as the stresses commonly associated with the home selling process start to add up. For instance, a homebuyer may submit an offer and follow it up with a home inspection. But during the inspection, this homebuyer could find issues with your home that lead him or her to reconsider the initial offer and could put a potential home sale in jeopardy. Conversely, with the right real estate agent at your disposal, you’ll be able to minimize many of the stresses of the home selling process. This professional will possess the necessary skills and know-how to guide you during the home selling process, and ultimately, improve your chances of a fast, successful home sale. Costly home selling mistakes can put a dent in your wallet or pocketbook and cause your stress levels to rise. But home sellers who work with a dedicated real estate agent can benefit from the support of an experienced professional who can simplify the home selling process.]]>
Beware of the Hidden Costs of Moving
If you are planning a move you are probably busy thinking about the new costs of living, how much the rental truck will cost, packing and how you will get there. What you may not be considering is the hidden costs of moving. Here just a few of the surprise costs of moving and some ideas on how to avoid them: Late Fees When you are moving things get lost in the mail or are slow to be forwarded to your new address. If you miss paying your bills on it can add up in unnecessary late fees. Switch all of your bills to online billing that way you are sure not to miss a payment that is lost in the mail. Overdraft Fees Don’t close that bank account just yet. You may have checks or bills still being drawn on that bank account. Leave your bank account open for approximately three months to allow all checks to clear. Doing this will help you avoid any overdraft fees. Contract penalties All of those contracts you have signed may come back to haunt you. Memberships at the gym, country club, day care facility, community association, etc. can cost you. Typically there is some type of annual or monthly contract associated with membership and cancelling early will usually cost you. Some of these contracts will have an exception for a move so read the terms and conditions before you pay a hefty cancellation fee. Auto insurance Part of the cost of your auto insurance is determined by your address. For example, moving from an area with less population, to a more highly populated area will cost you more in auto insurance. Different states also have different laws regarding insurance coverage. States have different minimum liability requirements so in some states you will need to purchase personal injury protection and uninsured motorist coverage and in others you will not. Health insurance Health insurance can also change when you switch states. Just like auto insurance, health insurance mandates vary among states, too. Some states require some types of medical procedures are covered while another has not mandated coverage. Be sure to comparison-shop for your health insurance. While adding up the normal costs of moving expenses like boxes and storage also be sure to check for these hidden costs and try to avoid losing money in your next move. ]]>