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7 Easy-to-do New Year’s Resolutions for your Home

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This is the time of year when we all begin to transition into the person we want to be for the New Year. Most of our resolutions consist of losing weight or finding love. But if you just bought a home, your resolutions may be a little different.

New Year's resolutions for your home

Here are 7 Easy-to-do New Year’s Resolutions for your Home:

  • If you’re selling, spruce up the walls, remove the wall paper and then paint. Sellers tend to avoid this because it’s a pain—but it’s a pain for buyers too! Plain walls help buyers look past the décor (which may or may not be their style to begin with) and picture their furniture in your home, according to this article on New Year’s resolutions for your home.
  • A good, sound mortgage rate is very important. Buyers should get qualified and locked in on a mortgage rate. The Fed is slowing their transactions of mortgage backed securities and treasuries. This won’t result in an immediate jump in interest rates, but buyers should keep in mind that rates will most likely be rising this year.
  • Sellers should be careful with their pricing because inventory and competition will start early and the goal when going on the market is to get the next offer made.
  • There will be a lot of new construction this spring. It’s easy to get mesmerized by the “shiny and new” properties, but new construction may be the right choice. However, don’t overlook resale’s that just need a couple new updates. You can get a lot for less and you wouldn’t want to miss out on an otherwise fantastic home. In the end, you could wind up with a better lot and more space for the same price after those updates.
  • Understand your credit history and your credit score, according to the Chicago Tribune on New Year’s resolutions for your home. These two numbers will rule your financial life so it’s definitely worth knowing what your score is before you apply for a loan.
  • Speaking of loans—find the best loan, on the best terms. Warning: there may be a little homework involved. Despite the government securing or guaranteeing a good amount of loans through Fannie Mae, Freddie Mac and FHA, banks are offering different terms. Talk to at least four or five lenders before you make a decision.
  • Find and create the best home-buying team around. Whether you’re buying an investment property or a home to call your own, you’ll want to create a team of real estate agents who can help you find the right property, on the best terms, at the best price, without any headaches. Think about including a great real estate agent, mortgage lender, real estate attorney and real estate home inspector into your search to get you started.

This is the time of year when we all begin to transition into the person we want to be for the New Year. Most of our resolutions consist of losing weight or finding love. But if you just bought a home, your resolutions may be a little different.

Here are 7 Easy-to-do New Year’s Resolutions for your Home:

·        
If you’re selling, spruce up the walls, remove the wall paper and then paint. Sellers tend to avoid this because it’s a pain—but it’s a pain for buyers too! Plain walls help buyers look past the décor (which may or may not be their style to begin with) and picture their furniture in your home, according to this article.

·         A good, sound mortgage rate is very important. Buyers should get qualified and locked in on a mortgage rate. The Fed is slowing their transactions of mortgage backed securities and treasuries. This won’t result in an immediate jump in interest rates, but buyers should keep in mind that rates will most likely be rising this year.

·         Sellers should be careful with their pricing because inventory and competition will start early and the goal when going on the market is to get the next offer made.

·         There will be a lot of new construction this spring. It’s easy to get mesmerized by the “shiny and new” properties, but new construction may be the right choice. However, don’t overlook resale’s that just need a couple new updates. You can get a lot for less and you wouldn’t want to miss out on an otherwise fantastic home. In the end, you could wind up with a better lot and more space for the same price after those updates.

·         Understand your credit history and your credit score, according to the Chicago Tribune. These two numbers will rule your financial life so it’s definitely worth knowing what your score is before you apply for a loan.

·         Speaking of loans—find the best loan, on the best terms. Warning: there may be a little homework involved. Despite the government securing or guaranteeing a good amount of loans through Fannie Mae, Freddie Mac and FHA, banks are offering different terms. Talk to at least four or five lenders before you make a decision.

·         Find and create the best home-buying team around. Whether you’re buying an investment property or a home to call your own, you’ll want to create a team of real estate agents who can help you find the right property, on the best terms, at the best price, without any headaches. Think about including a great real estate agent, mortgage lender, real estate attorney and real estate home inspector into your search to get you started. 

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