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If you want to improve your life at home, meanwhile getting the most bang for your buck when you sell your house - think about updating your kitchen! Beware, it can get expensive. Look around at your neighbor's homes and fit in, plus a little bonus feature. Don't spend $50k in the kitchen if home values in the area are $200k.
Another high ROI improvement is the bathroom. And, once again, it can get expensive. Do a NICE update and enjoy your fresh bathroom - but remember, you are not on MTV Cribs. If you only have one bathroom in your home, adding a second bathroom may create more value instead of pouring your money into a masterpiece bath.
Adding a deck or a patio can certainly add value, and enjoyment, to your home. It can help your home stand out vs the rest. Landscaping, or curb appeal, is another attractive piece to a property. Having beautiful flowers mixed in mulch with clean borders will be easy on the eyes and inviting.
One of the boring parts of a home, yet essential. Having a fresh coat of paint throughout a house is a relief to buyers. They don't have to do it before they move in, unless you picked out very strong colors. So, it is best to see what is currently "in" and go with that - typically neutral colors.
Speak with a few lenders and shop rates. See which lender you believe will be the best fit, and request a pre-approval letter. Kyle can recommend a few lenders for you to get started.
If you have done the first two steps before this one, you are respecting the process, well done! Kyle will set up a custom search for you so you get notified immediately when your future home becomes available
The only way to buy a home is to make an offer. Kyle can advise on offer strategy and tactics in order to make the most competitive offer and get the house of your dreams! Don't let it slip away.
Inspections will typically take place after your offer has been accepted by a seller. This is a protection period for you, so you don't buy a 'broken' home. Depending on how your offer is structured, price and repairs can be negotiated based on the inspector's findings.
Once the inspection period has passed, you will kick off your loan process - aka underwriting. Included in that, an appraisal will occur at the home. This is another protection mechanism in the process, so you don't pay more than the property is valued.
After a satisfactory appraisal and your loan is clear to close, you are on the home stretch. Get to the closing table and purchase your dream home!
How much will you walk away with after selling your home? This is one of the most common questions for sellers. It's difficult to put a specific number on it, but you can get a general idea. Use this tool to get an estimate!
Selling your primary residence? You may be able to exclude up to $250,000 from the gains of the sale on your individual tax forms! If you file jointly with a spouse, it raises to up to $500,000. The property must be used as your primary residence for two of the last five years.
Kyle Madak does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.