I hope 2019 is treating you well so far. Here are some tips you may find useful if you or someone you know is thinking about making a move. If you know someone who needs an agent or just some real estate advice, send them my way! I’ll be glad to help.
3 Ways To Win A Bidding War
As a seller, bidding wars on your home are welcome, but if you’re a buyer trying to obtain your dream home, bidding wars add an extra layer of complexity to an already complicated process. Having the right agent to help you through makes all the difference. Here are some tips to make your offer stand out and be more appealing in a bidding war.
1. Escalation Clauses
An escalation clause is a contract addendum we can add to your offer that will automatically increase your bid by a certain amount up to the maximum you’re willing to pay. For example, if you’re willing to pay up to $220,000 for a home, you can place a $200,000 bid and, if someone else outbids you, an escalation clause would automatically increase your bid by your predetermined amount, at which point you would automatically be taken out of the running. This ensures that you are always the top bid (unless another bid exceeds your predetermined maximum).
In a bidding war, the person offering the most money isn’t always the person who wins the home. Writing a personal letter to the seller explaining how much you love their home and what their home would mean to you and your family can give you a huge leg up on the competition. We can even include a picture of you and your family so the seller can see the face behind the bid.
Most home sales involve a certain number of contingencies that a seller has to agree to for a buyer to purchase their home. There are some indispensable ones likes passing a home inspection, but in a bidding war, minimizing other contingencies can grab the seller’s attention.
5 Ways To Earn Cash To Help Pay Off Your Mortgage Or Save For A Bigger Home
Whether you’re working to pay off your mortgage early or looking to save enough to upsize, every penny helps. Here are five ways you can earn or save money to reinvest in your home.
1. Solar panels.
Installing solar panels requires some initial planning and financial investment, but once you make the switch, they can save you thousands of dollars a year on electricity.
2. Sell unwanted stuff.
Yard sales, Craigslist, and Facebook Marketplace are just a few ways to reclaim money you spent on items you no longer need.
3. Rent out storage space.
If you have a garage, attic, basement, or storage shed, rent the space to someone for a little extra cash.
A guest room is a great money-making resource when you pair it with a rental app like Airbnb. Either list your spare room continuously or open availability for special events in town.
5. Rent out extra parking.
If parking is an issue near your home or you have a yard that could host a boat or RV, consider renting out the space. Parkonmydrive, Justpark, and Spot are great tools for finding people willing to pay to park.
Kitchen And Bath Renovations That Will Age With You
Renovating your kitchen or bathroom isn’t just an exciting way to customize your home; a well-planned renovation can also improve the long-term livability of your home. Here are some kitchen and bathroom renovation ideas to increase the long-term livability of your home by helping the elderly, increasing access for the disabled, and improving usability for someone recovering from an injury or illness.
Kitchen renovations tend to recoup a large portion of renovation dollars in resale value and also improve the entertainment and hosting capacity of a home. These factors have made the kitchen the most popular room of the home to renovate. To make your kitchen renovation work for you and your family long-term, consider replacing your kitchen sink with an apron-front or farmhouse sink to make it easier to use from a stool or wheelchair. Instead of knobs on your cabinets, choose handles - they’re easier to grip. Swing-out shelving will make hard to reach items easier to access, and sensor-activated lights and water can help both children and adults.
Another popular room to renovate is the bathroom, and like the kitchen, the bathroom is a great place to keep future mobility and usability in mind. Some features you should consider including are a no-threshold shower that doesn’t require a high leg lift to bathe, non-skid floor tiles to reduce slipperiness, and taller toilets that are easier to rise from.
Whether you’re getting ready to purchase your first home, looking for ways to pay off your current home, or thinking about updating your home to help it sell, I’m here to help. Let me know if you or someone you know has questions about real estate!