There’s no need to downsize your ego when you downsize your house. A more petite palace can offer many advantages and be a place of comfort and joy for you and your family. If you are considering the purchase of a smaller home, rest assured that this decision can have many benefits that go beyond a lower mortgage payment.
Environmentally Friendly
Reducing our consumption of the earth’s resources is a responsible decision. Smaller homes require less energy to heat and cool and less materials to build and maintain. There will be more room on your lot for plants and trees to grow with a smaller home.
Less Work to Maintain
Whether you do the work yourself, or hire someone to do routine maintenance chores for your home, you will save time and money with a smaller house. Think how much quicker and easier it will be to paint or install carpet when there are less walls and floors to be covered. Since the job will less intimidating, you may be inspired to do some projects yourself that you would normally pay someone else to do.
Saves You Money
A smaller home will result in more money in your pocket. Property tax, insurance payments, and utility bills will all be less in a smaller home. This can leave you more money to pay towards the principal, thus increasing your equity more quickly.
Easier to Decorate
It can be fun to decorate a smaller home. When space is at a premium, furnishings and accessories can have more impact, instead of getting lost in all the space of a larger home. You will need less furniture, window coverings, and pictures.
Saves Time Cleaning
Who wants to spend all weekend cleaning bathrooms, dusting, vacuuming, and mopping? More square footage means more time spent performing these chores that can seem like drudgery to the most committed housekeeper. Wouldn’t you rather have a little less housework and a little more free time?
Forces You to Be Organized
Living in a smaller home often means less room for storage; this is not necessarily a bad thing. Almost everyone owns too much stuff and could stand to purge their belongings of unnecessary junk. It is very liberating to be free of deep dark closets full of unknown items you may not have touched in years. We could all use some discipline when it comes to purchasing unneeded goods, and a smaller space will force you to think twice before bringing these things into your home.
A Cozier Space
Small homes can be incredibly cozy. Families that live in close spaces must learn to cooperate and be considerate of others. Children often prefer to share a bedroom with a sibling, and sharing a room will encourage closer relationships as well as time spent playing together.
You Can Afford Better Quality
Perhaps quality is more important than quantity to you. A smaller, more affordable home can leave room in your housing budget for those granite countertops, Berber carpets, premium hardwood flooring, or whatever suits your fancy.
So, can your family live happily in a smaller home? The answer is a resounding yes! Purchasing a smaller home can save you money and lead to a better quality of life as well.
© Allison Van Wig
Friday, June 26, 2009
Thursday, June 25, 2009
Why You should Stage Your Home For Sale
If you’ve been thinking of selling your investment house or your home, you should make sure that you take full advantage of home staging trends. There are several advantages to home staging trends, which we will take a look at below.
One of the best things about staged homes is that they sell in less time. This is great news for sellers, as these types of homes will sell really fast. In most cases, you won’t have to worry about your home staying on the market for a long period of time. Research has shown that staged homes sell nearly 40% faster than other homes on the market.
Staged homes also sell for more money. Homes that have sat on the market for a long period of time will normally get lower offers due to the fact that home buyers will begin to think there is something wrong with the home. Staged homes on the other hand, don’t sit on the market for long at all. Once they are listed, they pretty much draw attention to themselves - resulting in a fast sale.
A staged exterior will also draw viewers. When home buyers first arrive at a home that is up for sale, they instantly make up their mind whether they should get out and look around, or drive off. If the yard is staged with flowers and the yard is manicured and properly taken care of, chances are that buyers will want to see more. If you entice your buyers by showing them how nice the home is outside, they will surely want to know what the home is like on the inside as well.
Once a buyer has stepped inside of the home, he will know within a matter of seconds whether or not he likes the home. To get the buyer’s attention, you’ll need to stage your home to the buyer’s liking. You don’t want the buyer to feel rushed or get the wrong impression, which is why you should always set the stage and entice the buyer to take his time and get a good look at the home.
Staging the living rooms and kitchens will also help to sell the home. Buyers love living rooms, which is why you should always make sure that the living room is the center piece of your home, and decorate it accordingly. Kitchens on the other hand, is where you should really go all out, decorating with fruit and such. You should always make sure that everything is in place as well. Buyers love to see homes that are ready to move into - and not ready to be worked on.
Staged homes will also attract more real estate agents and get more advertising as well. If a real estate agent loves your home, he will want to show it off. If you stage your home, chances are that real estate agents will eat it up. When they do, they will advertise your home more than others, just to get you some deserved attention. This way, you can benefit from a lot of exposure at absolutely no extra cost.
There’s no other way to look at it, other than staged homes sell. They attract more buyers, more real estate agents, and they give people the feeling of home. When you go out of your way to make the buyer feel that your home is his dream home, he will know.
© Allison Van Wig
One of the best things about staged homes is that they sell in less time. This is great news for sellers, as these types of homes will sell really fast. In most cases, you won’t have to worry about your home staying on the market for a long period of time. Research has shown that staged homes sell nearly 40% faster than other homes on the market.
Staged homes also sell for more money. Homes that have sat on the market for a long period of time will normally get lower offers due to the fact that home buyers will begin to think there is something wrong with the home. Staged homes on the other hand, don’t sit on the market for long at all. Once they are listed, they pretty much draw attention to themselves - resulting in a fast sale.
A staged exterior will also draw viewers. When home buyers first arrive at a home that is up for sale, they instantly make up their mind whether they should get out and look around, or drive off. If the yard is staged with flowers and the yard is manicured and properly taken care of, chances are that buyers will want to see more. If you entice your buyers by showing them how nice the home is outside, they will surely want to know what the home is like on the inside as well.
Once a buyer has stepped inside of the home, he will know within a matter of seconds whether or not he likes the home. To get the buyer’s attention, you’ll need to stage your home to the buyer’s liking. You don’t want the buyer to feel rushed or get the wrong impression, which is why you should always set the stage and entice the buyer to take his time and get a good look at the home.
Staging the living rooms and kitchens will also help to sell the home. Buyers love living rooms, which is why you should always make sure that the living room is the center piece of your home, and decorate it accordingly. Kitchens on the other hand, is where you should really go all out, decorating with fruit and such. You should always make sure that everything is in place as well. Buyers love to see homes that are ready to move into - and not ready to be worked on.
Staged homes will also attract more real estate agents and get more advertising as well. If a real estate agent loves your home, he will want to show it off. If you stage your home, chances are that real estate agents will eat it up. When they do, they will advertise your home more than others, just to get you some deserved attention. This way, you can benefit from a lot of exposure at absolutely no extra cost.
There’s no other way to look at it, other than staged homes sell. They attract more buyers, more real estate agents, and they give people the feeling of home. When you go out of your way to make the buyer feel that your home is his dream home, he will know.
© Allison Van Wig
Why Should I Consider Getting a Home Inspection?
This article offers three reasons to pay for the cost of a home inspection prior to buying any home. The home inspection is an upfront cost that you may be tempted to skip because you are tight on money during the home-buying process. You may have determined that you are going to save all your money for the down payment and the closing costs. Shelling out $300-400 for the home inspection can save you a lot of money in the long run.
The first reason to pay for a home inspection is the risk of hidden costs. If you don’t know what repairs and upgrades that your prospective home really needs, you can get stuck with a lot of costs after the seller has sold you the home. Here are some examples of hidden costs that the home might need: a new roof, a new water heater, termite mitigation, or a new air conditioner. Each of these upgrades or repairs could cost you thousands. For example, a new roof typically costs upwards of $7,000 and a new water heater can cost more than $500. If you are prepared to make these expensive improvements and repairs, then you might forego the home inspection. However, if you can afford expensive repairs, then you can afford the home inspection. Most homeowners are not likely to have sufficient cash to make repairs and replacements on their home, especially right after paying the down payment and closing costs.
The second reason to invest in a home inspection comes from the National Association of Certified Home Inspectors. You need to find a good inspector with the proper credentials. NACHI recommends not to purchase a cheap home inspection because the cost “is very small relative to the home being inspected.” NACHI points out that you will pay only a little bit more to hire a certified home inspector. You can expect that a certified inspector adheres to the standards of the profession, providing you with the best objective evaluation of the home you want to purchase.
HUD provides the third reason it is imperative to get a home inspection. You should “make your offer contingent upon a home inspection.” What this means is that you are going to use your realtor or buyer’s agent to make an offer for a home. When you make the offer, the written language of the document should include that your offer is contingent upon the successful completion of an independent home inspection. The laws vary in each state, but generally once your offer is accepted by the seller, you become obligated to buy the home. If you want to get out of the contract later, it can cost you money, including in some cases the forfeiture of your initial deposit.
Think seriously about all the benefits of getting a home inspection. The drawbacks of not getting one are so expensive. The initial investment of $400 is worthwhile. A home inspection by a certified inspector comprises one of the best ways you will ever spend your money when buying a home. If you have any questions give Realtor Allison Van Wig at Keller Williams Realty a call (562) 882-1581.
© Allison Van Wig
The first reason to pay for a home inspection is the risk of hidden costs. If you don’t know what repairs and upgrades that your prospective home really needs, you can get stuck with a lot of costs after the seller has sold you the home. Here are some examples of hidden costs that the home might need: a new roof, a new water heater, termite mitigation, or a new air conditioner. Each of these upgrades or repairs could cost you thousands. For example, a new roof typically costs upwards of $7,000 and a new water heater can cost more than $500. If you are prepared to make these expensive improvements and repairs, then you might forego the home inspection. However, if you can afford expensive repairs, then you can afford the home inspection. Most homeowners are not likely to have sufficient cash to make repairs and replacements on their home, especially right after paying the down payment and closing costs.
The second reason to invest in a home inspection comes from the National Association of Certified Home Inspectors. You need to find a good inspector with the proper credentials. NACHI recommends not to purchase a cheap home inspection because the cost “is very small relative to the home being inspected.” NACHI points out that you will pay only a little bit more to hire a certified home inspector. You can expect that a certified inspector adheres to the standards of the profession, providing you with the best objective evaluation of the home you want to purchase.
HUD provides the third reason it is imperative to get a home inspection. You should “make your offer contingent upon a home inspection.” What this means is that you are going to use your realtor or buyer’s agent to make an offer for a home. When you make the offer, the written language of the document should include that your offer is contingent upon the successful completion of an independent home inspection. The laws vary in each state, but generally once your offer is accepted by the seller, you become obligated to buy the home. If you want to get out of the contract later, it can cost you money, including in some cases the forfeiture of your initial deposit.
Think seriously about all the benefits of getting a home inspection. The drawbacks of not getting one are so expensive. The initial investment of $400 is worthwhile. A home inspection by a certified inspector comprises one of the best ways you will ever spend your money when buying a home. If you have any questions give Realtor Allison Van Wig at Keller Williams Realty a call (562) 882-1581.
© Allison Van Wig
Why Buy during a Recession?
There are many reasons that you may want to consider buying your home during a recession. Of course, this is not something that you want to wait around for. If you are lucky enough to be purchasing during a recession then you are going to be able to get a good deal. But since there is no way of knowing when this will happen, you should simply go about your business. If you wait around because you think a recession is on the way you may never buy a new home. You would be much better off taking this into consideration, but not hinging your decision on what the market is offering.
The number one reason to buy a home during a recession is that you can save money. In many cases a situation like this will drive down home prices five percent or so. This is not to say that you will see this decrease across the board, but it is surely something to keep in mind. After all, five percent is $5,000 on every $100k worth of asking price. This can really add up; especially if you are spending several hundred thousand dollars on your new home.
Another good reason to sell during a recession is that sellers may begin to get anxious. They know that they are not going to get a great deal, but at the same time they are afraid that things could get worse in the near future. For this reason, they may be more so inclined to work with you on finding a mutually agreed upon price.
Keep in mind that a recession works in your favor as a buyer. You should know this when searching for a home so that you get the best of the deal, not the seller. This does not mean that you should be insistent on an absurdly low price, but you should know that a recession works in your favor.
It can be nice to buy a home when the real estate market is in a recession. This will allow you to save money, and hopefully get into a nice home. But remember, you should buy when you are ready to do so. If you put the time into finding a nice home, you will be happy with the end result no matter the market standing.
© Allison Van Wig
The number one reason to buy a home during a recession is that you can save money. In many cases a situation like this will drive down home prices five percent or so. This is not to say that you will see this decrease across the board, but it is surely something to keep in mind. After all, five percent is $5,000 on every $100k worth of asking price. This can really add up; especially if you are spending several hundred thousand dollars on your new home.
Another good reason to sell during a recession is that sellers may begin to get anxious. They know that they are not going to get a great deal, but at the same time they are afraid that things could get worse in the near future. For this reason, they may be more so inclined to work with you on finding a mutually agreed upon price.
Keep in mind that a recession works in your favor as a buyer. You should know this when searching for a home so that you get the best of the deal, not the seller. This does not mean that you should be insistent on an absurdly low price, but you should know that a recession works in your favor.
It can be nice to buy a home when the real estate market is in a recession. This will allow you to save money, and hopefully get into a nice home. But remember, you should buy when you are ready to do so. If you put the time into finding a nice home, you will be happy with the end result no matter the market standing.
© Allison Van Wig
Wednesday, June 24, 2009
When is the Best Time to Buy a Home?
It would be easy for someone to put out all kinds of special time frame analysis, stock market information and real estate market trends to try and explain when it's best to purchase a home. Or one could listen to those who are always saying that it's the perfect time to buy, for whatever reason they can use to justify it.
The fact is that the best time to purchase a home for your full time residence is when you need or want one. When not talking about investing for profit, but for the purpose of housing your family, your needs come first. It doesn't matter what the housing price indexes say, what the stock market's doing or where interest rates are.....to a point. Of course, all this is considered in moderation. If any of these factors are VERY out of the norm to the negative, then you should probably put off your purchase if your needs will allow it.
There are many personal and lifestyle factors that can balance out reasonable negative housing market factors. If your job location changes in town, and you're driving an extra 20 miles a day to work and back, a small increase in interest percentage can be offset in whole or part by savings in vehicle wear and gasoline. Besides, you can refinance if rates come down, while you'll never get back the gas expense and lost time away from your family.
When all the current owners and investors are crying over falling housing prices, you're in the driver's seat when it comes to being a buyer. You are shopping during a really big sale. And when there's a slow-down in housing sales, it just means that supply is increasing, while demand is stable or falling. That's the perfect time to buy. As a buyer, you're in demand. Sellers will compete for your business.
Okay, so we know that it's in our favor as buyers when prices are falling or demand is down due to bad news or other economic factors. But what do we do if times are good and housing prices are rising? If your plans are to purchase a home for your primary residence, and you plan on staying in it for several years, you're usually on safe ground purchasing even in a rising market. Historically, home prices have dipped at times, but they've always rebounded over time. Of course, we're not talking about a market where you're bidding against several others at prices greater than listed price. Even in markets where buyers are in bid wars, there are usually less popular local areas where prices are more stable and demand isn't as strong. Look in those areas, even if they're not your first choice. Sometimes a bargain can be had, making the area decision a good one.
It may seem like any time is the best time to buy. That's not true, but any time can be a good time to buy if that's when you need a home and you are careful in your search and selection.
© Allison Van Wig
The fact is that the best time to purchase a home for your full time residence is when you need or want one. When not talking about investing for profit, but for the purpose of housing your family, your needs come first. It doesn't matter what the housing price indexes say, what the stock market's doing or where interest rates are.....to a point. Of course, all this is considered in moderation. If any of these factors are VERY out of the norm to the negative, then you should probably put off your purchase if your needs will allow it.
There are many personal and lifestyle factors that can balance out reasonable negative housing market factors. If your job location changes in town, and you're driving an extra 20 miles a day to work and back, a small increase in interest percentage can be offset in whole or part by savings in vehicle wear and gasoline. Besides, you can refinance if rates come down, while you'll never get back the gas expense and lost time away from your family.
When all the current owners and investors are crying over falling housing prices, you're in the driver's seat when it comes to being a buyer. You are shopping during a really big sale. And when there's a slow-down in housing sales, it just means that supply is increasing, while demand is stable or falling. That's the perfect time to buy. As a buyer, you're in demand. Sellers will compete for your business.
Okay, so we know that it's in our favor as buyers when prices are falling or demand is down due to bad news or other economic factors. But what do we do if times are good and housing prices are rising? If your plans are to purchase a home for your primary residence, and you plan on staying in it for several years, you're usually on safe ground purchasing even in a rising market. Historically, home prices have dipped at times, but they've always rebounded over time. Of course, we're not talking about a market where you're bidding against several others at prices greater than listed price. Even in markets where buyers are in bid wars, there are usually less popular local areas where prices are more stable and demand isn't as strong. Look in those areas, even if they're not your first choice. Sometimes a bargain can be had, making the area decision a good one.
It may seem like any time is the best time to buy. That's not true, but any time can be a good time to buy if that's when you need a home and you are careful in your search and selection.
© Allison Van Wig
What Does Selling a Property As-Is Mean
If a homeowner is selling his house as-is, more likely than not, the condition of the property is less than stellar. Although some defects might be obvious, others might not be readily visible. The defects in the home can range anywhere from expensive, major repairs to small, minor repairs. In fact, more than one problem can exist with the home.
Allowing the current homeowner the opportunity to sell the home without completing any repairs or renovations is one of the main purposes of selling a home as-is. One of the advantages of this scenario for the seller is that he can put the house up for immediate sale rather than delaying the sale while necessary repairs are completed.
Furthermore, selling a house as-is protects the seller as long as the seller has been honest in his disclosure about the property. If the seller lies about any defects or inadequacies of the house to the buyer, he is not protected from any claim that the buyer might pose against the seller.
Basically, a buyer purchases the house in its current condition and may not request the seller to do anything to the property. When a property is being sold as-is, the seller may not hide any defect related to the condition of the property. Therefore, the buyer has no recourse should he decide he doesn’t like the condition of the house. This is because he has already agreed to purchase the house as-is.
The only time that a buyer would be able to take action against the seller is if the seller intentionally misled the buyers about the property. If the seller was aware of a particular defect with the property and intentionally hid this from the buyer, then the buyer would be able to take action.
Typically, the seller must include any problems or defects with the house on any disclosure forms. However, it is still important to have an inspection of the property in order to see exactly what is wrong.
Buyers who purchase property as-is realize what repairs are necessary and have taken this into consideration when determining their asking price. However, even though they have agreed to purchase a property with certain defects or flaws does not mean that they have agreed to any undisclosed problems that the property has. On the other hand, the buyers have essentially indicated that they will be responsible for all repairs, even cosmetic repairs.
© Allison Van Wig
Allowing the current homeowner the opportunity to sell the home without completing any repairs or renovations is one of the main purposes of selling a home as-is. One of the advantages of this scenario for the seller is that he can put the house up for immediate sale rather than delaying the sale while necessary repairs are completed.
Furthermore, selling a house as-is protects the seller as long as the seller has been honest in his disclosure about the property. If the seller lies about any defects or inadequacies of the house to the buyer, he is not protected from any claim that the buyer might pose against the seller.
Basically, a buyer purchases the house in its current condition and may not request the seller to do anything to the property. When a property is being sold as-is, the seller may not hide any defect related to the condition of the property. Therefore, the buyer has no recourse should he decide he doesn’t like the condition of the house. This is because he has already agreed to purchase the house as-is.
The only time that a buyer would be able to take action against the seller is if the seller intentionally misled the buyers about the property. If the seller was aware of a particular defect with the property and intentionally hid this from the buyer, then the buyer would be able to take action.
Typically, the seller must include any problems or defects with the house on any disclosure forms. However, it is still important to have an inspection of the property in order to see exactly what is wrong.
Buyers who purchase property as-is realize what repairs are necessary and have taken this into consideration when determining their asking price. However, even though they have agreed to purchase a property with certain defects or flaws does not mean that they have agreed to any undisclosed problems that the property has. On the other hand, the buyers have essentially indicated that they will be responsible for all repairs, even cosmetic repairs.
© Allison Van Wig
Top 10 Reasons to Install a Whole House Fan
A whole house fan is a ventilation system that works by sucking in the exterior air and pushing out the interior air. These fans can be used to either cool your home down or warm it up depending on the season. A whole house fan installs in your attic, out of sight. In addition, many models are extremely quiet allowing for a cooling breeze without the noise. Installation is relatively easy with some models using standard electrical outlets. Options include timers and wireless remotes.
Depending on the size of your home, you may need more than one whole house fan in order to be the most effective.
While installing a whole house fan can be a do-it-yourself job, it’s generally best to have the fan professionally installed. Some electrical wiring may be involved along with cutting into the ceiling. Professional installers know what they are doing and will complete the job in a timely manner.
If you’re considering installing a whole house fan, here are ten good reasons to help with your decision:
1. Save energy. A whole house fan uses far less energy than an air conditioner. Run the fan instead of the air conditioner when conditions are cooler outside than inside and save energy in the process.
2. Cool the house and attic in the summer. When the outside air cools down on a summer evening, use the whole house fan to push out the hot air and bring in the cold air.
3. Warm the house in the winter. In the fall and winter, the morning sun often warms up the outside long before your home begins to lose its chill. When it’s warmer outside than it is inside, turn on the whole house fan to bring the warm air in.
4. Remove moisture. Whole house fans are effective at sucking out the moisture left behind after taking showers.
5. Remove cooking odors. Run the whole house fan after cooking and replace the cooking odors with fresh air.
6. Ventilation. If you like the feel of fresh air blowing through your home, you’ll love the ventilating effect of whole house fans. Simply crack open a window, turn on the whole house fan and experience the breeze.
7. Return on investment. Whole house fans pay for themselves within a few seasons in energy savings.
8. Rebates. Many utilities offer rebates for homeowners who install whole house fans. These rebates are a terrific incentive and help offset the cost.
9. Added security. Instead of leaving windows open at night in an attempt to have a cool house, crack open a window in your sleeping quarters, secure it in place with a window lock, and turn on the whole house fan. Burglars won’t have easy access and you’ll stay cool.
10. Appeals to potential home buyers. When you eventually put your home on the market, potential buyers will find the whole house fan an attractive addition.
© Allison Van Wig
Depending on the size of your home, you may need more than one whole house fan in order to be the most effective.
While installing a whole house fan can be a do-it-yourself job, it’s generally best to have the fan professionally installed. Some electrical wiring may be involved along with cutting into the ceiling. Professional installers know what they are doing and will complete the job in a timely manner.
If you’re considering installing a whole house fan, here are ten good reasons to help with your decision:
1. Save energy. A whole house fan uses far less energy than an air conditioner. Run the fan instead of the air conditioner when conditions are cooler outside than inside and save energy in the process.
2. Cool the house and attic in the summer. When the outside air cools down on a summer evening, use the whole house fan to push out the hot air and bring in the cold air.
3. Warm the house in the winter. In the fall and winter, the morning sun often warms up the outside long before your home begins to lose its chill. When it’s warmer outside than it is inside, turn on the whole house fan to bring the warm air in.
4. Remove moisture. Whole house fans are effective at sucking out the moisture left behind after taking showers.
5. Remove cooking odors. Run the whole house fan after cooking and replace the cooking odors with fresh air.
6. Ventilation. If you like the feel of fresh air blowing through your home, you’ll love the ventilating effect of whole house fans. Simply crack open a window, turn on the whole house fan and experience the breeze.
7. Return on investment. Whole house fans pay for themselves within a few seasons in energy savings.
8. Rebates. Many utilities offer rebates for homeowners who install whole house fans. These rebates are a terrific incentive and help offset the cost.
9. Added security. Instead of leaving windows open at night in an attempt to have a cool house, crack open a window in your sleeping quarters, secure it in place with a window lock, and turn on the whole house fan. Burglars won’t have easy access and you’ll stay cool.
10. Appeals to potential home buyers. When you eventually put your home on the market, potential buyers will find the whole house fan an attractive addition.
© Allison Van Wig
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