If you’re thinking about buying a home before the end of the year, we advise you to think again. That is certainly our first piece of advice on this post, and you will find many more like it. You shouldn’t buy a home now because winter is perhaps the worst time in the year to move. The prices are high, and the market is scarce. If you are selling a house, you’ll be in for an even rougher time. It’s best to wait until spring before you start making a move. But that doesn’t mean that you can’t start planning right now. Moving house is actually quite complex, and there is a lot to think about. Particularly, if you are looking to buy your dream home. But don’t worry because we’re going to walk you around all the pitfalls and help you dodge the mistakes you might make. By doing this, we hope to lead you to your dream house. So, let’s get started.
Have You Saved?
If you are buying a house for the first time, you need to think about whether you have saved enough money. The more you save, the better. This will mean you can pay more on the deposit for the home. By doing this, that guarantees that you’ll have access to some of the better mortgage rates. This is certainly beneficial as it will make repayments a lot easier. In general, we suggest you save as much as twenty-five percent of the total price that you are willing to pay for your new home. Although, a little bit over that isn’t a bad idea either.
How’s Your Credit?
But, it’s not just the deposit that can affect what type of mortgage you get. You also need to think about your credit rating. Your credit rating is determined by how well you have paid back money that you have owed or borrowed over the years. If you have always paid your rent on time and haven’t built up any unpaid bills on credit cards, you should find that your rating is perfectly fine. In which case, you will have access to some of the best mortgage rates. On the other hand, if you have borrowed money and taken a while to pay it back, the situation won’t be so rosy. You will have to either get a bad credit mortgage or fix your rating before you buy. We suggest you fix your rating, and you can do this simply by paying off any outstanding bills.
Are You Selling?
If you’re selling a home, we imagine that you want the best price possible for your old house. That way you can upscale and find your dream home. If you’re not selling of course, you’ll find your situation is a lot easier. But, you won’t have any property money to use to buy your new home.
Selling a home is like selling any other item. It needs to be marketed effectively. You have to make sure that people want it. How do you do this? Well, the first thing we suggest you do is to get in touch with a real estate agent. They’ll market your property for you and give you a value for your home that they believe it is worth.
On the other hand before you do that, you might want to consider increasing the perceived and actual value. To increase the actual value of your home, you need to make some big changes. For instance, you can consider renovating your kitchen or bathroom. This will dramatically raise the actual value of your home, particularly if you add features that are built in. You can expect to get a lot more back than you pay for the improvements. For instance, you could spend approximately five grand improving your kitchen and add fifteen to the asking price for your home.
Your other option is to change the perceived value for your house. While this won’t necessarily change the amount you ask for, it might increase what people are willing to offer for it. We suggest you focus on curb appeal in this instance. This site, http://www.thisoldhouse.com/toh/curb-appeal has got some great tips on how to do this. You should do whatever you can to make your garden and the front of your home stand out from the rest on the street.
Finding Your New Home
While your home is on sale, you should be looking for your new home. If you are not tied down by any career commitments, it can be a good idea to search for this as far as possible. After all, it’s highly unlikely that you are going to find your dream home in the next town. You can do most of your searching online if you find a reputable site. If you’re not sure where to start, have a look at searchbaltimorerealestate.com. On there, you’ll find up to date listings so you won’t have to worry about falling in love with a home that has already sold.
As we said, you can complete most research online. It’s a good idea too, because you can get a feel for the market and how much homes are selling for. That way you won’t be gouged on price when you find the home you want. When you start to look around for homes that you might be interested in, don’t give away that you love what you see. This is the easiest way to tell the seller that you would pay a bigger price. Show mild interest and be sure to look for anything that could lower the value of the home. But also be aware that some house sellers treat the asking price as an opening bid. It’s not always advertised like this. But if you think a home is selling for a ridiculously low price based on face value, that’s probably what’s happening. You can find out more about this on http://www.eddisons.com.
Of course, once you find the home you want you’re going to put down an offer. Be aware that any offer you make must be presented by the estate agent to the seller. But any ridiculously low offers will be dismissed completely. Try to get a feel for the position that the seller is in. For instance, if they have already moved out of the home they will be looking for a quick sale. After a little haggling, you should be able to reach a price that fits both parties, and you will have your new dream home.