Are you wanting to move into a bigger home? Looking to downsize? Career change leading you to a new town? Whatever the reason, you are now trying to sell your current home, a daunting task. You probably have plenty of questions. How much will I spend on improvements? Is selling a home without a Realtor possible? What are the tax implications of selling a home? Don’t worry. Before you starting preparing your home to sell, consider this guide.
Preparing Your Home for Sale: Which renovations are worth the Money and Which Aren’t?
Attempting to sell your home as is without performing repairs or doing away with eye sores could mean it will sell for much less than what you hoped for, if it sells at all.
You could spend a great deal of time and money on improvements to your home before you sell it, but some projects offer a greater return than others.
Improvements that are worth it:
Paint. A fresh coat of paint goes a long way toward giving your home a new look. And it’s a fairly inexpensive improvement. Go for neutral colors that are likely to please more people. Avoid bold colors that make a strong statement. Buyers should be able to envision their own style in the home.
Clean windows and curtains. Windows and window treatments matter for more than one reason. Windows let light in and are often the first thing people notice about each room. Cleaning curtains or replacing them if they are outdated is a worthwhile upgrade. It’s not hard to find simple, inexpensive curtains in neutral colors to match any décor. Clean the windows well so the glass is clear and the area between the window and screen is free of bugs and dust.
Fix things. That leaky faucet in the master bathroom, the closet door that’s off track, the hole in the screen door—these need to be repaired. Fixing small details, or hiring someone to fix them if necessary, is well worth the time and money. Little problems, no matter how small, give the impression your home is in bad shape overall.
Update hardware. Door knobs, cabinet pulls and handles, and other hardware should be in good shape and match throughout your home. If your cabinets are plain front, consider adding hardware to spruce them up. Replace or polish any damaged or tarnished hardware.
Clean carpets and grout. If you have carpets in your home, have them professionally cleaned to remove any stains or odors. Depending on their condition, carpets may need to be replaced. Make sure the grout between tiles in your kitchen or bathroom is clean, especially if it is white or a light color.
Improve lighting. Make sure as much natural light as possible enters your home. Add new light fixtures, get new lampshades, even consider replacing lightbulbs with higher wattage bulbs (within the maximum suggested by the light fixture). The majority of buyers consider lighting to be the most important feature of a home after location.
Focus on the kitchen. The kitchen is the most important room in your home when it comes to selling. If you’re going to spend money on home improvements, the kitchen is the place to do it. And the good news is you can expect about an 85% return on your investment in this case. An outdated kitchen will make a home more difficult to sell and could mean potential buyers offer you as much as $10,000 less than your asking price. The cheap, easy fixes are paint and hardware. The more expensive (and more worthwhile) improvements are countertops, cabinets, and appliances. Even if you purchase just one quality stainless steel appliance, it will make the entire kitchen seem more expensive and sophisticated.
Hire a home stager. There are home staging specialists who can help present your home. Arranging furniture, lighting and décor in the right manner will make your home look beautiful to potential buyers. Whether or not you have an eye for decorating, a home stager is an expert and knows what buyers are looking for when they walk into a home. You may use your breakfast nook as a kids’ playroom, but if a potential buyer sees a table and chairs with flowers and place settings, they envision a lifestyle they want. You want to remove all personal items so potential buyers can see themselves living there. Your home stager will take care of all these details to make each room in your home inviting.
Improvements that may not be worth it:
Complete home makeover. Now is not the time to renovate your entire home. If you fully remodel each room in your home from top to bottom, you will likely not get back even half of what you spend. And you won’t even get to enjoy the improvements you poured so much time and money into. Address the areas needing the most work and tackle those as frugally as possible.
Expensive flooring. Do not install high dollar hardwood floors or expensive marble flooring. If the original hardwood floors have been covered up with carpet, do consider removing it and refinishing the floors. Do polish marble or stone flooring to give it a fresh shine. But don’t pour all of your fix-up budget into flooring that won’t add much to the price of your home.
Some of the Best Things You Can Do to Prepare Your Home for Sale Cost Nothing at All
If the costs of selling a home are overwhelming, you can do many things to improve its appearance that won’t cost you anything. Even if you have made other more significant improvements, these small items still appeal to potential buyers touring your home.
Clean your home. Give your home a thorough spring cleaning. Vacuum the areas you often forget about, like behind and under furniture. Dust the top of the fridge. Get cobwebs out of the corners. Remove bugs and dirt from inside the windows. Give special attention to bathrooms and the kitchen, as these are often the most important areas to potential buyers. Now that you’ve cleaned up, keep it that way everyday so your house is ready to show anytime.
Declutter your home. The less furniture you have in each room, the bigger it will look. Remove extra chairs and tables and bookshelves that make rooms look full. Minimize the number of appliances and kitchen gadgets sitting on surfaces in the kitchen. Keep toiletries off the counters, tub or shower, and put them in drawers or cabinets.
Remove personal items. You may have a wonderful collection of knickknacks, like, for example, your salt and pepper shakers from all over the world. They mean a lot to you, but potential buyers may be turned off. Go ahead and pack your personal items (including family photos) to get ready for the move to your new home. It is important for potential buyers to imagine themselves living in the home, which will be easier if it looks more generic and less like you.
Stage rooms. You don’t have to hire a professional stager to make your rooms look presentable. You can use furniture and other items you have to make rooms look inviting. Get out the good China and set the dining room table with place settings, and flowers or fruit as a centerpiece. In the bathroom, make that garden tub you never use look like its begging to be relaxed in by laying out candles and a pretty towel draped over the side. These are just a few examples of room staging that can have amazing results.
Empty half of your closets. Clean out your closets so they look only half full. Get rid of clothes you don’t wear anymore, and pack away the clothes you won’t need in the immediate future. Storage is a big priority for potential buyers, and your closets will look much bigger if they are not full. Show off your closet organizer by using it properly with shoes and accessories displayed in the way they were intended.
Remove pets. Definitely take pets out of the home before a showing, and consider moving pets out of the home for the duration of the time your home is on the market. For potential buyers, whether they are animal lovers or not, seeing (or smelling) evidence of pets in the home could be a deal breaker. Litter boxes, food bowls, hair and other telltale signs of pets can be a real turn off. And it’s extremely difficult to keep your home spotless with pets around. Consider having pets stay with nearby relatives or friends during the selling process.
Stage the backyard. Often overlooked, the backyard is just as important as the rest of your home to potential buyers. If you have a back deck, porch or patio, you should also stage it to be inviting. Arrange tables and chairs, open the umbrella, even set the table with picnic place settings. Hang up that hammock, clean up the kids’ outdoor toys and play area, keep the grass mowed and the weeds at bay.
Curb Appeal: You Only Get One Chance to Make a First Impression
What potential buyers see when they first pull up to your home is most important. If a potential buyer doesn’t like what they see at first glance, they may not even want to set foot in your home. Keep the front yard immaculate. Stage the front porch to be inviting. Plant flowers and keep shrubs trimmed. Clean out bird nests, spider webs and any evidence of bugs. Keep the front porch swept and power wash the front walk and driveway. Have all flower beds newly mulched. Power wash siding and even paint the outside of your home if needed. Consider adding outdoor lighting as well. Even if you have a limited budget, consider using at least some of it on the front of your home.
Tax Implications of Selling a Home: What You Need to Know
Now that your home is ready to sell, you may be wondering about the tax implications. The good news is taxes are relatively simple. If you have lived in your home for at least two of the past five years, you can exclude a house sale profit of up to $250,000. If filing jointly with a spouse, that amount goes up to $500,000. You can use this same tax exclusion as many times as necessary in your lifetime as long as at least two years pass between sales. Special circumstances may allow you to exclude higher amounts, the specifics of which can be discussed with your tax advisor.
Selling a Home Without a Realtor: Can it Be Done?
Yes. But is it easy? No. There are definite advantages to getting help from a realtor. A realtor is able to bring more potential buyers to your home, particularly ones who are looking for features your home offers. Realtors can advise you on how to prepare your home for sale, and are often staging experts themselves through years of experience. Your home will sell faster and most likely for a higher price when you work with a realtor.
Ready to start the process of selling your home? Contact Smith Marketing of Allen Tate Realtors® at (336) 451-4921 or (336) 215-7880.
With so many agents in Greensboro, choosing the right one can make your buying or selling experience successful and less stressful. But where do you start? There are a lot of tips to choosing the right Greensboro real estate agent starting with what you’re doing right now; researching. Continue reading →
While it might be tempting to buy a luxury home in Greensboro without the aid of an experienced real estate agent, this may not be your best option. If your only reason for trying to go it alone is you don’t want to pay the various fees and costs, you should be aware that the seller often pays many of them. Others have to be paid no matter what. However, there are a number of ways a truly great real estate agent can make the home buying process easier. Here are the top five:
1. Real Estate Agents are the Experts
When it comes to luxury homes in Greensboro, the best real estate agents are truly the experts. A real estate agent is well-versed not only in which homes are for sale, but also in the language of buying a home, the art of the deal, and how to handle the massive amount of paperwork involved in buying a home. Their expertise can ensure you, the amateur, don’t make costly mistakes.
2. Maximum Search Capabilities
Sure, you have the internet to help you find the right home, but what you have access to is only the tip of the iceberg. A good agent has access to far more listings than you are likely to find online, many of which are restricted to those in the industry.
3 Real Estate Agents are the Masters of the Deal
Do you truly know how to negotiate for the best deal on your new house? Unless you haggle for a living, probably not. Realtors spend years honing their skills and are all too happy to show them off. A good realtor can shave thousands off the asking price, negotiate things like having the seller pay all costs and more. All things the average buyer has no idea how to do.
4. It’s All about Who You Know
Networking is one of the most important skills a real estate agent can have. This includes keeping lists of banks and mortgage companies they have worked with for years, as well as other realtors who can help them in your search for the perfect home. When you hire the best realtors, you gain access to this side of the industry, giving you a major advantage.
5. The Best Realtors Have Ethics
Although not all real estate agents have the best ethics, you can count on the best to have very high ethical standards. Hiring the best agents ensures that every phase in your search of luxury homes in Greensboro will go smoothly. You can try to do everything yourself, but why would you want to, when the right agent can almost guarantee success for you?
If you’re conducting a property search in Greensboro for a new home, but your current home has been on the market a while and isn’t selling fast enough, you may be asking yourself why isn’t my home selling? Besides from uncontrollable market conditions, there are some things that you can control which impact your home sale. Continue reading →
If you have been looking at Greensboro real estate with an eye to building your next home, you are not alone. Empty land in our area is becoming scarce as the region continues to grow. Before you choose a property and start building, there are a few things you need to be aware of. Here are seven things you need to keep in mind as you look at land:
1. The Right Location
Realtors have always said building a home is all about “location, location, location.” Consider issues such as whether you have a good view, will you get enough sunlight, are you close to schools, shopping, hospitals and other amenities? Will your daily commute be manageable? If you have reached retirement age, will your new location be close to community centers, medical centers, gyms, recreational facilities? Make sure that your property qualifies to build the size of home you want to build.
2. Plan for the Future
Just because the property you are interested in looks wonderful right now, it may not always be this way. This is especially true if you are buying property in a subdivision. Try to picture the area as it will look in 5 to 10 years as the other lots begin to fill up. Will you lose that amazing view? Are your neighbors going to be closer than you might like? What will you do if businesses start moving in and you have 24-hour traffic?
3. What about Setbacks
Do you know what the property’s setbacks are or what a setback is? A setback covers how close to the property line you will be allowed to build. You can get this information from your local building department. This is especially important on smaller lots as setbacks can have a significant impact on the size of home you can build.
4. Where Will You Get Your Utilities
There is no point in buying a beautiful piece of property for a bargain price, only to find it will cost thousands more to drill a well or connect to city water, have power lines put in and have a propane tank installed. It can cost $100 per foot or more to have power lines run to your property. If the land is in the city, then you need to find out how much it will cost to connect to the various utilities.
5. Who Owns the Natural Resources
Just because you have the deed to your property, that does not mean you own what is under your land. It might be better to say you can own the land but not access to the natural resources under it. These can include mineral rights, timber rights, water rights, gas rights and oil rights. If you want these rights, you need to make sure you are buying them with the property, or someone may have the right to mine, drill or cross your property without your permission.
6. What about Maintenance?
Do you know who is responsible for maintaining community property around the land you plan to buy? This includes who will plow the roads when it snows in the winter, who mows the berms, who picks up litter, etc. It could be your job, the homeowner’s association’s, the city’s or the county’s. Be sure you know this before buying. You could find out that hard way that it is your responsibility.
7. What about Zoning?
Lastly, as you look at Greensboro real estate for sale, you need to learn everything you can about any restrictions. Is the property covered by a range of covenants created by an HOA (home owner’s association)? Does an architectural committee have to approve the design of your home before you can build?
When it comes to zoning, are you buying property for your home next to land that is zoned commercial? What if you want to add a garage or barn? The more you know before you buy, the lower the risk of ending up with property you will not be happy with in 5 or 10 years. Hopefully, this information will help you find the perfect piece of real estate for your new home.
First-time buyers and even those buying their second or third house face a tougher challenge than their parents or grandparents ever dreamed of. First-time buyers looking at homes for sale in Greensboro, NC are often already burdened with student loan debts, a high cost of living, and low wages, not to mention housing prices that are higher than ever. The hardest part of buying a home is trying to secure the necessary financing. Here are six tips to make the process a little smoother and get you into your dream home.
1. Know Your Budget
Buying a new home represents a significant financial investment. Not only will you have a mortgage payment, you will have insurance premiums, yearly taxes and repairs. If you are not sure how to set a budget that takes all this into account, you can always talk to a credit counselor. They can create a working budget based on your income that will show you just how much of a payment you can comfortably afford. You should never buy a house with a payment outside of their recommendations, as this is a sure way to set yourself up for failure.
2. Have Your Documents Ready
Buying any one of the homes for sale in Greensboro, NC is all about the paperwork. When you meet with a credit counselor or a loan officer from the bank or financing company, you must have proof of employment and proof of income. This can come from paystubs, annual W-2 tax documents or bank statements. If you have other debts such as car loans and credit cards, you should be prepared to include them in your loan application.
3. Know Your Credit Score
Nothing can be more embarrassing than sitting in front of the loan officer only to find your application declined because you have a low credit score. There are a number of ways you can find your credit score (FICO) for free. Bear in mind anything under 580 is considered to be poor and can make it difficult to secure a mortgage. Anything over 720 is considered excellent and will get you the best rates available.
4. Your Down Payment
Although there are a number of government-sponsored home loan services that do not require a down payment, most traditional lenders require 10%. If you are planning to secure a traditional loan from a bank or mortgage company, be sure you have at least this much in the bank. Not only does this show good faith on your part, it puts you in a good position to make an on the spot offer if one of the homes for sale in Greensboro, NC catches your eye.
5. Know Your Lender
Take the time to carefully research the lenders in your area. Talk to banks and mortgage companies. The idea is to see who has the better offer. This means in terms of interest rates, down payments and closing costs.
6. Patience Is a Virtue
Of all these, perhaps patience is the most important tip for the first-time home buyer. Financing a home is not something you can hurry. While you can walk into a car dealership and drive out with a loan in a couple of hours, getting everything in place to finance a home can take weeks.
Smith Marketing’s preferred lender is Atlantic Bay. You can contact them at 336-314-1300.
The process of buying and selling a home can be an overwhelming task. But there are a wealth of tools available online to assist you in your search to finding the perfect home. Being informed of the various tools can make your home hunting experience more successful.
Online Searches – First, start by searching on reliable sites. Avoid places like online ad posting services because the source is unknown and unreliable. If you’re unsure, start by searching for reputable real estate sites and read reviews of the sites you find. Then start your home search on the most reputable ones you find.
Focused searching – If you are interested in a particular area, search homes for sale in Greensboro online by that specified area and go from there. Don’t limit yourself to number of bedrooms, square footage and age right away. Save the narrowing for after you find a variety of homes to compare.
County auditor sites – Many county auditors provide online access to property information. If you see a home that piques your interest, you can often search by address with the county to get some additional information such as the year it was built, the last price it sold for, and the property tax information.
Community Searches – Many housing communities and home builders will have their own community searches available on their websites. You can simply look them up and locate the links to their neighborhoods. Often those searches will provide valuable information regarding other homes for sale in Greensboro, as well as the local area information, site plans, neighborhood information, school district information, and more.
Let the experts help you in your search – The team at Smith Marketing has a multitude of tools to assist in locating your perfect home. You can review properties using the property search tool. With this tool you can search an internal database of homes for sale in Greensboro on an interactive map.
Searching for a New Home in Greensboro NC is Simple with the Experts at Smith Marketing
If you would like more information on your next home, call Jason Smith at 336-451-4921 or Jeff Smith at 336-663-1320. With the distinguished reputation and expertise possessed by this team of agents, your search for a new home will be easy and well-informed.
House hunting is fun and exciting. Searching for homes and imagining the future you and your family will have there is an amazing experience. But before you start looking for a house for sale in Greensboro, you have homework to do. Make the entire experience more pleasant by getting your financial ducks in a row beforehand. Here’s what you need to know about financing your new home.
Get preapproved for a mortgage.
This is truly the most important step. You need to meet with a mortgage broker at your preferred financial institution and find out what amount you will be able to borrow for a home, if you qualify to do so. Don’t set yourself up for the disappointment of finding the home of your dreams and then finding out that you can’t get a loan to buy it.
Save, save, save. And then save more.
One of the best things you can do to prepare to finance a home is to build up a solid savings. You will need this money for closing costs, a down payment, and other expenses that come with moving into a new home. You can never save too much, but there are options for down payment assistance that may be available to you, especially if you are first time home buyer.
Determine a Realistic Price Range.
Based on your preapproval amount and a good hard look at your finances, you can come up with a price range for house hunting. You always want to spend less on a home than you are preapproved for to allow room for other bills, expenses, and home maintenance.
Bump Up Your Credit Score.
You can improve your credit score by keeping balances low on lines of credit, avoiding credit checks, and making payments on time. You can read more information about your credit score and request a free copy of your credit report at annualcreditreport.com.
Now You are Ready to Look at Houses.
Once you have covered all of these points, you are ready to look for a house for sale in Greensboro. Smith Marketing of Allen Tate Realtors has a huge database of houses for sale in Greensboro and the surrounding area. Contact Smith Marketing and Allen Tate Realtors at (336) 215-7880.
These days, where technology rules and do-it-yourself advice is right at your fingertips, it can be easy to think you can find your next home on your own. However, the most effective way to find your next home is to hire a real estate agent. Real estate agents have knowledge and experience or “tricks of the trade” you could say, that give you an advantage. If you want access to the most homes for sale in the Triad, hire a real estate agent.
A real estate agent offers definite advantages:
Inside info. A real estate agent has access to insider info that only real estate agents have access to. Agents network with other agents to help clients buy and sell houses, meaning you may be offered opportunities you could not find on your own.
Knowledge of the community. When you’re looking for a certain type of neighborhood or community, a real estate agent will know the area well enough to help you find what you’re looking for.
Financial know-how. A real estate agent will have a good knowledge of the prices of homes in different neighborhoods and can help you make an educated decision regarding offers, price range, and financing.
Paperwork/closing assistance. Your real estate agent can handle a lot of the necessary paperwork and is willing to be present at your closing to make sure everything goes smoothly and that you understand the paperwork you are signing.
Negotiation skills. Throughout the process of looking at houses and making offers, you need a real estate agent’s negotiation skills. Your agent acts as the go-between from buyer to seller.
Experience. All of these things come from the experience your real estate agent has had in the business. The more experience your agent has, the better he or she will be at all of the above.
Get Insider Access to Greensboro NC Homes for Sale by Smith Marketing and Allen Tate Realtors
When you work with Smith Marketing and Allen Tate Realtors, you get access to the biggest database of Greensboro NC homes for sale. Use the online property search and call (336)451-4921 or (336)663-1320 to be matched with an experienced real estate agent.
When it comes to buying and selling homes, your real estate agent makes all the difference. You need to find an agent you can connect with, who has certain qualities that will help you sell your home and find a new one that meets your requirements. When choosing from real estate agents in Greensboro, look for these qualities.
Communication. One of the most important aspects of the client/agent relationship is communication. You need an agent who keeps you up to date, who contacts you before you contact them. You need to be able to easily get in touch with your real estate agent. And on a deeper level, your agent must be able to adequately express important information regarding the buying and selling of homes.
Good listening skills. In addition to good communication skills, your real estate agent should listen well to your thoughts and needs when it comes to selling your home or buying a new one. When your agent listens to what you want in a home they are more likely to show you homes you will like.
Adaptable. A real estate agent needs to be able to adapt their behavior and technique to suit each individual client. Each client and each home is different, and needs to be handled as such.
Detail oriented. Your agent should know the important details about selling your home and helping you find a new one. A good real estate agent will be aware of the your selling and buying time constraints and your motivation behind buying or selling, using that key information to be successful.
Highly recommended. Ask for recommendations or references from the agent’s most recent clients, as many as 20 if you wish to get a good feel for their reputation.
Want to Find Real Estate Agents in Greensboro with these Qualities?
Try Smith Marketing and Allen Tate Realtors. Real estate agents who listen to your wants and needs combined with experts who know how to list your home to get it sold make a winning combination. Contact Smith Marketing and Allen Tate Realtors.