Donna Moy-Bruno's Blog
As a homebuyer, it is important to do everything you can to find your dream residence. Once you discover your ideal house, you should be ready to submit a competitive offer to purchase this home.
Ultimately, there are several factors to consider as you try to put together a competitive offer to purchase your dream house. These factors include:
1. A Home's Age and Condition
Examine a house closely before you craft an offer to purchase – you will be glad you did. Because if you leave no stone unturned in your quest to learn about a residence, you can create an offer to purchase that accounts for a house's age and condition.
If you have questions about a house, you should reach out to a seller's agent. That way, you can address these questions before you submit an offer to purchase.
Also, it is important to remember that there is no such thing as a "bad" question to ask about a house. A home purchase may be one of the biggest transactions you will complete in your lifetime. And if you devote time and energy to learn about all aspects of a house, you can ensure you are ready to purchase this home. Perhaps best of all, you can identify potential home problems that otherwise may prove to be costly and time-intensive down the line.
2. The Current State of the Housing Market
Differentiating between a buyer's market and seller's market is key, particularly for those who are ready to submit an offer to purchase a house. If you assess the local housing sector, you can find out whether a buyer's or seller's market is in place and submit an appropriate offer to purchase your dream residence.
In a buyer's market, homes may remain available for many weeks or months after they are listed. Thus, a seller may be willing to accept an offer to purchase, even if it falls below his or her initial home asking price.
Comparatively, in a seller's market, there is a shortage of quality houses available. And in this market, the best houses sell quickly, which means you likely will need to submit a competitive offer to purchase to secure your ideal home.
To determine if a buyer's or seller's market is in effect, take a look at how quickly houses are selling in your city or town. You also should find out if homes are selling at or above their initial asking prices. With this information in hand, you will be better equipped than ever before to submit a competitive offer to purchase your dream house.
3. Your Homebuying Budget
There is no need to overspend to buy your ideal house. Therefore, you should try to submit an offer to purchase that accounts for your homebuying budget.
Oftentimes, it helps to meet with banks and credit unions before you embark on a home search. This will allow you to get pre-approved for a mortgage and enter the homebuying journey with a budget at your disposal.
As you navigate the homebuying journey, you may want to hire a real estate agent, too. Because if you have a real estate agent at your side, you should have no trouble crafting a competitive offer to acquire your dream residence.
HAPPENING THIS WEEK in Sudbury MA - The Festival of Wreaths
Holiday Fun and Fundraising are combined in this wonderful community event.
Get more information and add this to your calendar now!
Pictured below: wreath designed and donated by Anne Hincks and Christine Clark of the Thursday Garden Club of Sudbury
Appliances have a certain lifespan of use, and then, unfortunately, they tend to break down one way or another. Depending on the age of the appliance and the amount of the repair cost, you should make an informed decision as to what will be a good for your finances and your home.
So, when the fridge stops producing cold or the dryer stops drying things, you may go into panic mode and try to either buy a new appliance or call a repair person. Before you make a snap judgment, you should take a step back. It’s important to ask the question:
Is it worth getting this repaired?
If you are able to get an estimate of how much the repairs will cost, this will give you a good place to start. This is the fastest way for you to get the answers that you need. If the life of the appliance is going to only be a few years, you may be better off investing your money in a new appliance. The cost of a repair can run somewhere around 20-30 percent of the cost of replacing the appliance completely.
Understand The Life Expectancy Of Each Appliance
Some appliances are meant to last for a decade, others will last for a shorter period of time. As a general rule of thumb, if your appliance is over 7 years old and breaks down, you should probably replace it rather than repair it. It will be a better investment in the long run. Some typical lifespans for appliances are:
- Dishwasher 9 years
- Freezer 13 years
- Range 15 years
- Dryer 13 years
- Washing Machine 10 years
Before you replace your broken appliance, there are a few things you should understand. First, sometimes, it really isn’t broken. A plug could be loose or a circuit could have tripped. You would hate to spend the money on a new appliance rather than deal with a simple problem. Troubleshoot the problem yourself by taking a peek at the owner’s manual first.
Once you have repair estimates, you should find out how much it will be to replace your appliance completely with a similar model. Make sure that you factor in things like the removal of the old appliance, the taxes, and the installation. By running the numbers, you’ll know if you can afford a new appliance or not compared to the repair costs.
If you have been dreaming of a refrigerator with an ice maker, it may be a good decision for you to spring for a new model. If you love the features you have, you’ll want to either price similar units or do the repairs. Really, your budget and needs very much dictate your decision for new appliances. Consider the options and make the repair or replacement call based on your needs.
If you plan to list your home, you may want to consider the buyer's perspective. That way, you can determine what differentiates your residence from others and promote your house to potential buyers accordingly.
Now, let's take a look at three tips to help you evaluate the buyer's perspective.
1. Assess Your House's Strengths and Weaknesses
Your home may be a wonderful option for many property buyers – you just need to be able to accentuate the key features of your residence to the right groups of prospective buyers.
Oftentimes, it helps to conduct a home inspection prior to listing a residence. A home inspection enables you to gain comprehensive insights into your house's strengths and weaknesses. Then, you can take the necessary steps to transform your home's weaknesses into strengths.
2. Consider Your Home's Location
Location plays an important role in a buyer's decision to purchase a house. Therefore, you need to think about where your home is located so you can price your residence competitively.
For example, a home in a small town may prove to be more affordable than a comparable residence in a big city. At the same time, a big city house likely provides convenient access to a broad range of notable landmarks and attractions.
You may want to check out the prices of comparable houses in your city or town too. With this housing market data in hand, you can boost the likelihood of setting a competitive initial asking price for your residence.
3. Craft an Engaging House Listing
A home listing offers a great opportunity to connect with a buyer. And if a buyer likes a house after reading a listing, he or she may be more inclined than ever before to set up a house showing.
Think about why a buyer may choose your house over others when you craft your home listing. By doing so, you may be able to find ways to help your home listing stand out to prospective buyers.
Furthermore, you should review your home listing closely before it is published. Because if your home listing is filled with grammatical errors or inaccuracies, buyers may shy away from your house.
As you look for ways to promote your residence to the right groups of buyers, you may want to hire a real estate agent as well. In fact, if you have a real estate agent at your side, you can receive plenty of support as you navigate the property selling journey.
A real estate agent will help you list your residence, set a competitive initial asking price for it and set up home showings and open house events. Plus, if you ever have concerns or questions during the property selling journey, you can receive expert responses from your real estate agent.
Ready to add your house to the real estate market? Use the aforementioned tips, and you can consider the buyer's perspective and increase your chances of enjoying a quick, profitable house selling experience.
Today marks the first day for our company, RESULTS REALTY as an independent company! Our main office is still in the same place, in Hudson and a second office was added in Leominster. Soon, maybe, another even closer to home :) Stay tuned. My phone number, email and social media remain the same yet there is something about new beginnings that cause me to be anxious and excited at the same time! Its been almost 20 years since I became a Realtor and I am thankful that the majority of my business has grown from the trust and referrals of friends, attorneys, local business people and former clients. Working with a group of awesome agents and a broker who sets high standards, creates an opportunity for me to continue to serve the community in a way that feels right for me personally - it is important for me to work within a framework that offers a chance to learn and grow and maintain my own identity while still being part of a larger network. It's even more important to me at this time of my life that I surround myself with good human beings, clients and co-brokes and industry partners, people who care about their communities, who respect others for their differences and unique talents, who celebrate the success of others, share their knowledge and teach whenever possible, so we can learn from each others experiences and even our mistakes. In this season of gratitude, I have so much to be thankful for! - Donna Moy-Bruno
I can always be found at www.DontForgetDonna.com