The biggest mistakes in real estate that you should avoid

As we welcome the new year, we list down some of the worst but most common mistakes we make in buying your selling your home:
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Not making enhancements to showcase your home better

If you are selling your home you should think of how house hunters will be seeing your property. Minor enhancements are necessary and you can hire a professional to help you with this. You can have your furniture re-arrange so it will look more pleasing to the buyers. Stage your home right and you can increase its potential in the real estate market.

Sky high selling price

You need to do your research well so you can put the right tag price on your home. You have to compare it with nearby homes and see how you can price your home. You can have a sale price just in the middle of the going on prices in your neighborhood rather that start high and bring it down after which might put an impression on buyers that something is wrong with the property.

Buying what you want

There is a big difference with what you want and what you need. If you buy according to your wants, then there is something wrong and you may be wasting a good portion of your hard earned money. Shop for a house which will answer your needs. Make a list of your needs that you want to see in your new home and look for features that will address them as you shop around for a real estate property.

Visiting the property only once

If you are buying a home, you may want to schedule multiple visits to the property. The community it is in may be different depending on the time and day of your visit. It is also good to think things carefully and not falling in love at first sight.

Not having a realistic budget

If a bank pre-qualifies you for a few hundred thousand dollars, it does not necessarily mean that you can really afford to pay it. Do the math and see if how much you can afford for amortization for a new home. Make sure that you will be comfortable taking into account your monthly spending and any potential emergency costs.

Tips when moving out of your family home

Anything first is something big in your life. You will not forget your first bike, first kiss, first failure, first job, first major buy, among others. And likewise, your first move will always be there to remember. A lot of first moves though are worth forgetting as they entail quite some problems and first move disasters. If you want to avoid problems with your first move, here are some tips to ensure that everything goes smoothly:

If you need help, ask for it

Moving is quite a daunting task especially if it is your first. You are not really certain what it will be like and what you should really do. Ask friends from family or friends who are equipped with experience. Ask for their advice so you can minimize mishaps. Ask how you will pack your stuff, things you need to bring, or how to clean your new place.

Be really patient

For the first few months, you need to adjust to your new life. How you eat will be different if it is just you first time to be on your own and used to the company of the whole family. How you buy things will be different as you only have to buy for yourself. Do not over stuff your fridge and cupboard or you will be wasting a lot of food.

No need to worry

If you will be living alone, you will have to take care of all the chores which you used to divide among your family members. You have to organize everything so your home will run smoothly. You might not be in total control at the start but once you have settled in and more comfortable with your setup, you will do well.

Laundry

Your mom might have been doing your laundry ever since, this will change to. You do not want to run out of clothes to wear, so do not forget your laundry.

Different ways to show your property to potential buyers

Showing your property is critical to the home selling process. Here are some ways how you showcase your home to prospective buyers:

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Open House

Most open houses are done during the weekends. Sunday afternoons are ideal since most people are free from work obligations. Buyers can make most of the situation to shop around and have a good feel of the market without the need to commit to an agent. It is also a great opportunity for sellers to have a few hours to show their home with a good number of potential buyers visiting.

Private showings

Some buyers might visit during an open house and there will be times that serious buyers would request for a private showing of the property so they can appreciate it more without the other people moving around from room to room. It can be a challenge for some homeowners since they have to maintain the property in staging condition while living in it.

Lock box

Some sellers or buyers might not be available during weekends. A lock box kind of showing makes use of a lock box just outside of the house where agents can access the key. This gives a great chance for the buyer who might be coming out of town or just available on a certain day to check out the property.

Whatever path you want to take in order to showcase your property, make sure that you coordinate well with your agent. Buyers and agents should be respectful of the owners of the house while sellers should make sure that the property is in tip top staging condition.

When disaster strikes: Important factors of a good home insurance coverage

Home insurance coverages are there to give you a peace of mind that every can be taken cared of if ever disaster strikes. Much as you do not want to, theft, natural disaster, or fire can strike any time. As a homeowner you need to ask yourself if the home insurance you have can protect you, your family, and your properties if anything bad happens.

How much insurance do you need? Read on and learn the essentials that you need to have for your home insurance:

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Rebuilding your home

When a big storm or fire strikes and wipes out your home, your insurance should be there to cover the cost in case you want to rebuild it back to its former glory. Sad to say, a lot of homeowners do not have enough coverage to do this after a disaster strikes. Consult your real estate agent or insurance agent on how to compute for this and see if you have enough coverage.

Replacing your personal belongings

Another important thing to consider is how you can replace the items inside your house in case they are stolen. Let’s say your portable band saw was stolen, will your policy pay for it? This will really depend on the kind of insurance that you have. It can either cover for a replacement cost or give you the cash value of the stolen item.

Payment for your valuables

While most policies will cover for the usual items, you need to have an endorsement policy to cover for the more unique and more expensive items in your house. Your standard policy will only cover for a certain amount but you can get riders to cover for more expensive items like artwork, jewelry, and other collections.

Cost of living after a disaster

When disaster strikes, you might have to live temporarily in a hotel or apartment while your home is being rebuilt. You need to remember that you still need to make mortgage payments while all of the rebuilding is happening. Insurance policies can cover for your increased cost of living but they will not be covering for it forever. You might need to add some to your premium if you want to increase the amount of temporary coverage so discuss this item when buying your insurance policy.

Source: [RobertMuellerReport]. Find the Best Band Saw Reviews 2016.

Tips on choosing a moving company

Moving to another house in another location is pretty stressful experience. Add to that the horror stories you have heard about moving companies, which will basically bring your hard-earned goods to your new place. However, you can make the transfer to your new home a worry-free experience. Just follow the tips below on how to choose the best moving company:

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Recommendations

Ask your friends or co-workers if they have tried a moving company themselves and who will they recommend. You can also checkout websites and see the reviews of moving companies to determine which will best suit your needs.

Narrow down your options to about four companies then setup appointments with them so you can get an estimate. It will be best for the company to see what they are moving so there will be enough preparation and no surprises on the day you move.

Ask to know

As a customer, you have the right to ask the moving company of their qualifications to help you with the move. Ask if their employees are licensed, bonded, and insured. Ask the particulars of their insurance so you know in case you will discover damages to your stuff when you move.

List down the items

When the company rep gets to your place, show him or her what items will be moved. Point out any specifc items that might need some gentle handling like antiques, piano, large mirrors, among others. Instruct the company which items they need to move and which ones you will be moving yourself. Make sure you give them the exact address of the new home and any obstacles like narrow hallways or stairs that they may have to deal with. Prior to the move, the company shall give you a detailed estimate and specifics of the move.

Top reasons why homeowners are quick selling properties

There are a lot of reasons why homeowners are putting their homes for sale. Several scenarios are pushing them against the wall and forcing them quick sell their houses.

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Repossession

The threat of eviction and repossession gives homeowners very limited choices to get out of the situation. A lot of homeowners struggle with debt and negative equity especially those who bought their homes when the market was still very strong. You can ask the help of property specialist to do a quick sale of your home so you can stop repossession. There are also real estate companies that can arrange rent back options for struggling homeowners.

Debilitation debt

Owners want to sell their house fast when they cannot keep up with their mortgage payments or if they struggle with the increasing cost of daily living. Desperate homeowner can seek for rescue schemes that will acquire their houses at fair market prices.

Emotional situations

Homeowners can also sell their house fast if you are amid an emotional difficulty brought about by bereavement, breakups, or divoce.

Emigration or relocation

Quick house sales are also being done by those who need to move to another city or state. A lot of people are on the move to follow better opportunities.

Debt

Houses are also being sold to pay off large debts. Selling your house is one way to get a lump sum to pay off other debts. This maybe the worst reason to do a quick sale but a lot of homeowners run out of options.