- Make sure you are credit worthy. Check your credit history, build up your rating if needed, and fix any errors on your credit report.
- Consider buying vs. leasing. With costs of buying and selling, plus time needed to build equity, you could end up losing money if you move too soon.
- Buy a home you can afford. The rule of thumb is you can afford housing that cost about two and one half times your salary, but there are calculators available online to help you figure exactly what you can afford based on income, debts and expenses.
- You may qualify for a loan with less than 20 percent down. Meet with a lender to discover programs that you qualify for.
- Even if you don’t have children, buy in a good school district. When it comes time to sell, good school districts are a top priority to many home buyers.
- Get a REALTOR®. Sure, you can go online, and go shopping. But you’re better off with someone who has your best interests at heart and a buyer agent can help you in negotiations and strategies in the bidding process.
- Choose wisely between points and interest rate. If you plan to stay in the house a long time, it’s usually better to pay additional points to lower the interest rate.
- Get pre-approved before house hunting. Know upfront what you can afford to save you time lost looking at what you can’t afford and you will be able to make a serious offer when you do find one you want.
- Be a smart bidder. Ask your REALTOR what similar homes in the area have sold for, and if homes have been selling for 5% less than asking price, then work with your REALTOR to make a competitive offer.
- Hire your own home inspector. One can be provided for you, but choose one that you feel will do a thorough job and have your best interest in mind.
Keep your home and family safe during the holiday season
December 5th, 2011Flickering candles. Tiny twinkling lights. The fragrance of fresh-cut pine. A crackling fire in the fireplace. Our senses are alive with the aromas of the holiday season. Most likely you will begin your Christmas decorating soon. We are looking forward to this time of family and friends too, but we also want you to be safe and avoid a fire-related tragedy during this festive time.
The National Fire Protection Association (NFPA) has some excellent holiday safety tips we’d like to pass along.
- Holiday decorations should be flame retardant and non-flammable. That means modern that meets current safety standards. Holiday decoration fires are most likely to happen in the living room, family room or den because they are placed too close to a heat source.
- Light your way. Replace any string of lights with worn or broken cords. LED lights. While they are an up-front investment they are cooler and a long-term investment. We were rummaging in the basement for our lights and found an antique string of bubble lights. Remember them? As much as we’d like to recreate our childhood memories for our children, the bubble lights will stay in the box.
- The Christmas tree is always the centerpiece. Select a tree that has a sticky trunk, green needles and branches that are hard to pull back. Ask for a fresh cut and when you bring the tree home, immerse it in water immediately. It will be very thirsty and needs continual watering throughout the holiday season. Keep your tree at least three feet away from heat sources.
- Ahh, the glow of candlelight. So romantic and cozy. However, according to the NFPA, unattended candles cause more than half of home fires during the holiday season. Place lit candles on stable surfaces, away from flammables, children and pets. Don’t leave your candles unattended, even if you place candles in the fireplace instead of firewood. Extinguish ALL candles before you turn in for the night.
- Fireplaces are the center piece of a room. They are also a potential fire hazard. We recommend hiring a chimney sweep to check it out every autumn. Clean chimneys don’t start fires. Use only seasoned wood; don’t burn wrapping paper, cardboard boxes or pine branches. The Chimney Safety Institute of America also cautions that, while a chimney helps your home to breathe, it requires special care and maintenance to avoid carbon monoxide fumes and fires behind the lining.
This holiday season is also a great time to check your smoke alarms and review your home escape plan in case of an emergency. With a few precautions, we’ll all have a safe and happy holiday.
A few New Year Reminders
January 13th, 2011Standard mileage rates, as of January 1, 2011:
- 51 cents per business mile
- 19 cents per mile for medical purposes
- 14 cents per mile for charitable services
Update your payroll state unemployment rate;
Estimated tax, if not paid before the end of 2010, they are due January 18th
To avoid income tax penalties be sure you have paid 100% of 2009 taxes or 90% of what you owe this year;
Get a basket, shoe box, or storage box, to contain all the tax documents you will start receiving via mail or e-mail;
This is a great time to update your home inventory by adding any electronic or other valuable items received over the holidays. Be sure to discuss with your insurance agent for additional coverage, if necessary;
Take advantage of buying ‘out season’ items, such as carpet, linens and swimwear.
If you need help looking over your finances, give me a call at 314.265.1531 and I can recommend the perfect solution!
4 Tips to Make a Home More Inviting
April 3rd, 2009Model homes are important tools for builders because they help buyers fall in love with a home.
Phyllis Ryan, president of the model-home division of Interior Concepts, a Maryland design firm that specializes in furnishing new homes, has some tips that might benefit anyone who is selling a home.
- A stylish kitchen appeals to many buyers. If a sellers has upgraded cabinets and granite countertops, that’s good. If they don’t, it may help to display some stylish touches like an espresso machine, a retro toaster or just some luscious fruit.
- Lots of light makes spaces feel larger. Turn on all the lights even during the day and add a few extra lights if necessary.
- The master bedroom should seduce a buyer. Play soft jazz, pile the bed high with a cushy comforter and pillows. Stack plush towels in the bathroom.
- Add drama to a bottleneck or a dead end space. Prop an oversize mirror against the wall. It visually ops a space and adds drama.
Source: Washington Post, Elizabeth Razzi (03/14/2009)
Expert Real Estate Services and Systems in St. Charles and St. Louis Missouri
