The new year is here and that means time for new year resolutions! Maybe buying & selling a home is on your list for 2020. Here are some tips whether you’re looking to sell, increase the value of your home, or are looking for your dream home!
Buying a new home can feel daunting, but with a plan and the right partner on your side it’s easier than you think. Here are some things to keep in mind:
- Create a buying timeline and work towards your goal
- Check your credit scores and work to improve your rating
- Start or increase your savings for a down payment
- Start the loan pre-approval process
- Meet with your real estate agent
- Start looking for homes
If you are planning to take advantage of the great market conditions in Middle Tennessee and Nashville here are things to look out for when selling your home:
- A timeline for selling your home and having it market ready is criticial
- Make a list of improvements and upgrades that might be needed and start planning them out
- Get rid of the clutter & tidy up!
- Get in touch with me!
Increase Your Home Equity:
You might not be ready to move in 2020 but there’s always the opportunity to increase your home equity. Here are some tips:
- Take advantage of low interest rates by refinancing to a lower rate
- Consider refinancing to a shorter term loan
- Make extra lump-sum payments. Consider using your tax refund, cash gifts, work bonuses, garage sale money, or any other unexpected income toward paying down your principal.
- Pay every two weeks instead of once a month. If available through your lender, a biweekly payment plan can substantially reduce the amount of interest you pay because you are breaking the interest accrual down from 30 days to every 15.
- Pay a little extra each month. Even if you’re only rounding up to the next $100 increment, putting a little extra money towards your principal every month can add up.
Investing In Your Home
Don’t wait until it’s time to sell to upgrade your home! Home improvements can increase your home value—and your quality of life:
- Choose a home improvement project that will yield a good return on your investment, such as upgrading the flooring.
- Stay on top of maintenance all year long by maintaining a checklist
- Think green! Eco-friendly upgrades not only help the enviroment, they keep ownership costs down and make your home more desirable.