Our Real Estate Blog
A showing enables a buyer to walk through a residence and envision what life may be like if he or she purchases it. And if a buyer crafts a home showing strategy, he or she can make the most of this opportunity.
Now, let's take a look at three tips to help you plan ahead for a house showing.
1. Review the Home Listing
A home listing may include details about a house, as well as images that depict different areas of a residence. It also may feature information about various attractions and landmarks near a house.
By reviewing a listing prior to a showing, you can double-check to ensure a home falls in line with your homebuying goals. Plus, you can use a listing to understand what you may see during a showing and establish realistic expectations for a residence.
2. Make a List of Questions
There is no reason to enter a showing without a list of questions about a residence. Because if you attend a showing without questions in hand, you risk missing out on valuable insights about a house that otherwise could help you determine if a home is right for you.
As you create a list of home showing questions, consider what you want to know about a house that you were unable to learn from the residence's listing. For instance, you may want to ask why a seller has decided to list his or her house. Or, you can craft questions about utility expenses and other home costs so you can get the information you need to analyze a house.
3. Prepare Your Home Showing Essentials
A home showing is a learning experience unlike any other, so it often helps to put together a bag of must-have items for the event.
For example, you may want to bring a pen and paper so you can take notes during a house showing. Meanwhile, some buyers carry a camera with them so they can capture photos of a house and review them after a showing.
As you prepare to attend a home showing, you may want to consult with a real estate agent as well. This housing market professional can take the guesswork out of planning for a showing and help you gain the insights you need to assess all aspects of a residence.
Typically, a real estate agent will meet with a buyer prior to a showing and offer insights into a house. A real estate agent and buyer then will attend a showing together and walk through a house. After a showing is complete, a real estate agent and buyer next will discuss the house and weigh its advantages and disadvantages. At this point, if a buyer wants to submit an offer to purchase a particular home, a real estate agent will help him or her craft a competitive homebuying proposal.
Want to maximize the value of a house showing? Use the aforementioned tips, and you can plan ahead for any home showing, at any time.
1 Spring Lane, Hopkinton, MA 01748
If you’re buying a fixer upper, whether you plan to live on the property or flip it, there are plenty of things that you’ll need to consider. So you can budget appropriately, below, many of the costs and fees are laid to so that you can see what you’ll need to budget for when rehabilitating a home.
The Overall Costs
The costs that you’ll incur in buying and finishing a home that needs to be rehabilitated are as follows:
- The team needed for rehabilitation
- The purchase price of the property
- The cost of owning the property
- The cost of selling the property (if you plan on flipping the home)
The people that you put together to rehab your home will be very important to the entire rehabilitation process. You should take the time to research each person that you’re hiring to be sure that they are a good fit for the job.
Professionals who will be involved in the process include:
- Insurance agent
- Home inspector
You can ask your realtor or other trusted contacts for recommendations. Putting a team in place helps to make the entire, sometimes cumbersome process of house rehabilitation a bit smoother.
Buying The Property
These costs are pretty standard as if you were buying any other home. You’ll need to pay closing costs, attorneys fees, realtor fees, and more. Costs typically included in a home purchase are:
- Purchase price
- Closing costs
You should budget for all of these typical home buying costs when buying a rehab home.
The Costs Of Home Rehabilitation
This is where things get expensive. You’ll need to first pay a contractor just to consult with them to see how they will create your vision for the property. You could also take another route an consult with a home inspector who has experience in construction. They can give you an idea of what the construction expense will be and what needs to be addressed.
When you do get to meet with contractors, you’ll want to understand their construction experience and feel comfortable that they can produce the work that you need at a high level of quality.
Owning A Home
Once you have the home in need of rehabilitation in your possession, you’ll need to pay the typical costs of any homeowner. These include:
- Mortgage payments
Even if you’re not currently occupying the home, once the property is purchased, all of these costs will need to be covered and considered.
If you decide to flip the property and sell it, you’ll need to consider additional costs including realtor’s fees and other closing costs.
Every homeowner seems to come to a point where they wonder if it’s time to sell their home or renovate the one that they currently have. Whether or not you decide to sell immediately, you can start with some renovations to your home that will offer you a big return on your investments and more comfort. Certain renovation projects are more beneficial than others. We’ll go over some of the best projects that you can take on in your home to add value and comfort to your home.
Curb Appeal Pays
While you may turn to the inside of your home to make improvements first, it’s actually more beneficial to update the outside of your home before you even begin to tackle the inside. Curb appeal can boost the value of your home significantly.
Check Your Insulation
You can improve the overall energy efficiency of your home by sealing unattended places in the home. Add insulation and sealing right in your attic. This helps to save on energy costs the whole year through. New insulation brings quite a return on value in your home.
Make Your Spaces Peaceful And Open
If you have plenty of space available in the house, you’ll get a big return on your investment. Add a bedroom to the home if you are able. Expand on the master bedroom to include large closets along with a master bathroom. Some of these renovations can become a bit of an expense, but you’ll be happy you did them when you get a large return on your investment.
Add A Deck
Adding an outdoor space to enjoy will not only give you financial returns, it will give you an increased sense of happiness as well. You’ll have a new outdoor space that you’ll be able to enjoy for a good portion of the year.
Sometimes even small improvements can add returns and more appeal to your home. Does your kitchen need new tile? Could your dishwasher use an upgrade? Maybe the bathroom counter can be replaced. Anything small around your home that’s upgraded can add up. The kitchen and the bathroom are the two rooms of the home that people most desire to have updated. Doing any and all projects in these rooms can have a really big impact on the value of your property.
After The Renovations
After you complete the desired renovations in your home, live in it for awhile. If you’re still itching to move on from your property, make an appointment with your realtor. There is nothing wasted in doing renovations to your home whether you decide to stay on the property or move on.
The decision to buy a home can bring all sorts of emotions. From stress to joy to fear, you need to be prepared for any situation to arise. From saving up enough money for a down payment to securing financing to hoping for a smooth closing, buying a home is a complex event. Just about the worst thing that can happen in the process is finding the home of your dreams and then having your offer rejected. If you do lose out on the house to another bidder, below, you’ll find a few reasons why.
The Home Is Above Your Means
If you go after a home that’s above a price that you can afford, it’s likely that your offer will be declined. Look at all of your numbers and find a reasonable price point with your real estate agent. Be sure that your agent won’t show you homes that are far above your budget. Don’t risk falling in love with a house that you can’t afford. If you start big, you may be disappointed at the type of home you actually can fit in with your budget.
A Better Offer Came In
In high competition markets or for a home that’s receiving a lot of attention, sellers may get multiple offers. All that attention is why it’s always best to keep your offer as close to the asking price as possible. Don’t assume that other buyers will bid low. Remember that sellers want to get the most return on their home, which means they are going to take the highest offer in most cases.
You also don’t want to get too carried away in asking for contingencies. If you ask too much of a seller’s, they won’t bother giving your offer serious consideration when other buyers have asked them to put less time and money into the home. Don’t ask for unnecessary repairs or over the top back costs.
You’re Not Approved For A Mortgage
The seller wants you to have a home loan pre-approved so that the process of selling their home will be that much smoother. Some seller may only consider bids by buyers who have been pre-approved for a loan. You should definitely be pre-approved before you even set out on your home search.
To get your offer accepted on a home you love, you need to do your homework. As a buyer, you want to keep the needs of the seller in mind. Although you want the best deal for yourself, you're more likely to get a property that you want if you compromise a bit.