Cathy Lomasney's Blog
A home seller must consider the initial asking price of his or her residence closely. Because if a home seller sets an unrealistic initial asking price, he or she risks alienating potential buyers.
Now, let's take a look at three tips to help you set a realistic initial asking price for your house.
1. Review the Local Housing Market
The local housing market may favor buyers or sellers. Fortunately, if you analyze the local housing sector, you can differentiate a buyer's market from a seller's market – or vice-versa – and price your house accordingly.
In a buyer's market, there is an abundance of quality residences and a shortage of buyers. And if you're operating in a buyer's market, you may need to price your house aggressively to stir up interest in it.
Comparatively, in a seller's market, there is a shortage of quality residences and an abundance of buyers. In a seller's market, you may be able to generate lots of interest in your house, even if you set an above-average price for it.
Regardless of whether you're operating in a buyer's or seller's market, you should assess housing sector data. Find out how your residence stacks up against available houses in your city or town that are similar to your own. Then, you may be better equipped than ever before to set a competitive initial asking price for your home.
2. Conduct a Home Inspection and Appraisal
By performing a home inspection, you can receive comprehensive insights into your house's condition. Following an inspection, you can prioritize home repairs. Plus, you can use an inspection report to help you determine how to price your residence.
In addition, you can conduct a home appraisal prior to listing your residence. Thanks to an appraisal, you can receive a property valuation. And as a result, you can use this property valuation to price your house appropriately.
3. Consult with a Real Estate Agent
A real estate agent understands the ins and outs of the housing market. Thus, he or she can help you establish the right price for your house.
Ultimately, a real estate agent is unafraid to be honest with a house seller. He or she will teach a seller about the housing market and provide unbiased recommendations about how to price a residence. Best of all, a real estate agent will promote a house to prospective buyers and ensure a seller can get the best price for his or her home.
Let's not forget about the assistance that a real estate agent can provide during a negotiation, either. A real estate agent is happy to negotiate with a buyer on your behalf. As such, a real estate agent can help you optimize your house sale earnings.
For a home seller who wants to determine the right price for his or her house, it helps to prepare as much as possible. If you take advantage of the aforementioned tips, you can establish a competitive initial asking price for your home and boost the likelihood of enjoying a fast, profitable house selling experience.
23 Glendale Ave, Somerville, MA 02144
Anytime that you move it can be both physically and financially draining. Moving with children is no exception to this rule. There are certain things that you can do in order to make the transition easier when you move with kids. Children can feel a special sort of attachment to a place, especially their home. It’s important that you help them make a smooth transition.
Tell Your Kids About The Move
While it may seem convenient to hide the fact that you’re making a big move from your little ones, it’s not a good idea. Children are pretty intuitive. Sit down and have a conversation with them explaining where you’re going. You can even throw in the why if the move is due to the fact that you need more space or need to be closer to work. It may even be in your best interest to do this over your child’s favorite meal or at their favorite pizza place in town.
Donate Anything You’re Not Using
This can be a great teachable moment for kids in the moving process. Teach them about giving things to people who are less fortunate than they are by going through their toys and clothes. Show them that you are donating items from your own collection as well.
Let The Kids Be Involved
Kids can be involved with the move in many ways. Older kids can pack their own belongings in boxes and suitcases. Younger kids may need a bit more help. You can let them decorate the boxes as they are labeled. This will be a help for staying organized throughout the move.
Emphasize The Cool Things About The New Place
If your new house has some neat features that you know the kids will love, definitely share it with them. Some things to talk about with kids about the new place you’re moving to:
- New school
- Great neighborhood park
- Bigger bedroom
- Having their own rooms
- Playroom/ game room
- Great ice cream stand
Anything that you know will be a highlight for your child in the process of moving can help them to cope with the changes ahead.
Make Your Move Less Stressful By Staying Organized
It can be easy to snap at kids when you’re stressed out. Keep all of your important documents and papers in one place. Make sure you leave ample time for packing and moving. Hire a moving company if you need to as well. If you’re selling any of your belongings from your old house, make sure that you do so well in advance of the move to avoid any undue last minute stressors. With a bit of planning, moving with kids can go quite smoothly.
Many home buyers seek out fixer-uppers or older homes as a way to save money. And, while this method can be a great way to save, it does come with a few caveats.
Upgrades and repairs can vary greatly in price. Some might be simple, whereas others can take weeks or months, require permits, and uproot your plans. For these reasons, it’s good to know what you’re getting yourself into with home repairs.
In this article, we’re going to cover the most expensive home repairs and upgrades. That way when you find a home listing that you’re interested in, you can rule out these costly repairs early if you aren’t willing to spend the extra money on them after buying the house.
1. Sewer and septic
Finding out you need to replace a sewer line or a septic system can be a nightmare. Sewer lines are most often damaged by tree root growth, leaving older homes the most vulnerable. On average, homeowners spend around $2,500 to repair a main sewer line.
If you move into a new home that previously only had one inhabitant, you may find that the septic system can’t keep up with the increased workload. Repairs for a septic system average around $1,500. And to replace the septic system and install a new one? You can expect to spend around $5,000 or much more, depending on your needs and location.
2. Foundation repair
Older homes are also subject to foundation damage over the years, which can cause many problems, including safety concerns and water damage.
Houses that have poor drainage and high soil moisture are particularly vulnerable to foundation damage. And, like sewer and septic issues, tree roots can also pose a problem.
For minor cracks, foundation repairs can cost as little as $500. However, more severe damage can cost up to $10,000. On average, Americans spend around $4,000 when they repair a damaged foundation.
3. Roof replacement
Roof replacements are inevitable, but there are ways to ensure you won’t have to install a new one anytime soon. For example, slate and metal roofs can last over 50 years. And concrete? A hundred years or more.
The most common type of roofs, however, are made from asphalt shingles, which last around 20 years. In terms of price, asphalt tends to be the cheapest as well, costing as low as $2,000 to replace. Metal and slate roofs are significantly more expensive, starting at $5,000 and $17,000 respectively.
4. Heat pump installation
Installing a heat pump can be quite costly, with the national average being around $5,300. However, if you live in a moderate climate, a heat pump can replace both your furnace and your air conditioning unit.
Furthermore, if you plan on staying in the home for several years, a heat pump tends to be much more energy efficient than older alternatives.
5. Kitchen remodel
Of all the household remodeling projects--basement, bathrooms, etc.--a kitchen remodel tends to be the priciest. Americans spend about $21,000 on a kitchen remodel. The most expensive part? Cabinetry and hardware at $6,000.
Carpeting gets a bad rep. As you well know from house hunting, or will soon find out, wood floors are valued far more. While wood flooring may be, debatably, easier to maintain and keep a low allergen profile, it’s expensive to install or restore. Carpeting adds warmth, softness, and flair to a room. So let’s put the arguments against carpeting to rest. Here’s how to properly care for and maintain carpeting.
Shoes off - This one should be a rule no matter your flooring choice if you want to maintain a tidy home. With that said, prevent visible track lines along your home’s most common traffic patterns. Create a designated place for family members to place their shoes sets your household up for success for instilling a no shoe rule. Be everyone favorite host and keep a basket of fresh socks and sandals for guests who aren’t the shoeless type.
Vacuum frequently - Meaning at least once a week. Keep dirt, crumbs, and dander from becoming ground down into your carpeting. Investing in a robotic vacuum will allow you to schedule a few clean times each week without having to lift a finger. And with AI on the rise, you can now control most from your home; which means if you have unexpected guests swinging by you can send a signal to your vacuum to get to work whether you’re in bed, at work or running to the store to pick up items for dinner.
Spot clean properly - Knowing how to properly spot clean any spills or messes is critical. For example, never rub or grind down when cleaning always gently sweep in upward motions to clean up before stains set in. If you don’t have one already add a carpet cleaning kit to your list for your next shopping run. You’ll want cleaner, a scraper, a bristle brush and a microfiber cloth. And, perhaps most importantly, keep all of these items together and on hand. The last thing you’ll want is to dig through your cleaning closet like mad while a wine stain is happily settling in.
How to steam - To truly maintain carpeting you’ll want to plan to have it professionally steamed at least once a year. For DIY-ers skip using store-bought solutions designed to be mixed with the water. This might seem counterintuitive but they tend to leave behind soapy residue which further attracts more dirt. As you can imagine this creates an unnecessary codependent cycle that I have a hunch you’d prefer to skip! You will also want to be mindful of how much water you use as you clean; use caution to not use so much that the carpet can no longer truly dry fully. If this sounds like too much to keep in mind you’ll find hiring a professional well worth the yearly investment.