Posts from May 2016

Buying a property that needs some TLC, whether you ultimately plan to live in the home or resell it, can be a smart investment and a rewarding project. With the ups and downs in the market over the past several years, I've seen lots of examples of ugly-duckling properties that have been turned into dream homes with happy endings for buyers who might not otherwise have been able to afford a home with similar upgrades.

But rehabbing a home takes money, work and perseverance. To make a good business decision about whether to take the leap, you need to ask yourself some questions:

What's my tolerance for the project? No matter who you hire to do the rehab or how many projects they've completed, you're likely to run into unexpected things that cause delays. Within reason, your best approach to simply expect the delays and roll with them. If changes...

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Downsizing to a smaller home can be at the same time a source of freedom and a source of anxiety. Clients who are ready to downsize do so because a smaller home is less to pay for and maintain. But the same clients can get overwhelmed when it's time to sort through all their belongings and decide what's going with them to the new home.

Unless you're a natural at keeping clutter at bay, editing down your possessions to fit in a smaller home isn't easy. Still, there are some things you can do to make you more productive:

1. Give yourself plenty of time

You might feel like you've got all the time in the world, but start now. Sorting through a lifetime's worth of belongings and choosing what to discard is hard work and brings up lots of emotions. If you put off downsizing until you're packing for your move, the stress of the clock is l...

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After everything it takes to find the home you want, the last thing you need is to run into problems at closing. By the time you're ready to close, you and your Realtor have spent weeks scheduling loads of appointments and marking off dozens of tasks. One small hiccup can delay your closing or even jeopardize the whole deal.

Your best defense against surprises at closing is your Realtor. A full-time, full-service Realtor has the experience to prepare you for what to expect and the foresight to head off potential problems so your closing happens on time. Here are some other things you can do to make sure closing day goes smoothly:

Don't make big changes in your finances

Once the mortgage process begins, your finances will be under a microscope for a while. You'll want your credit history to be as stable as possible and your cred...

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Part of the fun of owning your own home is being able to do what you want with it. But if you're planning to sell the house in the next few years, you'll want to think about how those changes will be viewed by potential buyers. Will they love that fabric-textured wallpaper as much as you do?

The truth is, there are some home improvements that can actually hurt your home in the eyes of a buyer. Think carefully before you launch into any of these projects:

Removing bedrooms. Have your heart set on combining two bedrooms into a spacious master suite? Or maybe you want to convert one bedroom into a permanent home office with a wall of built-in shelves. Before you start, think about how many bedrooms will be left. Number of bedrooms is typically on a buyer's must-have list. Your master suite will be tempting to potential buyers, but it...

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