Catherine Albiani's Blog
Ready to purchase your dream home? Before you finalize a home purchase, it may be worthwhile to schedule a home appraisal.
With a home appraisal, a property expert will examine a residence both inside and out. The home appraiser then will offer a property valuation.
In some instances, a home offer may be appraisal-contingent. And if the home appraisal valuation falls below the amount of a buyer's offer, the buyer may request a renegotiated price.
A home appraisal may prove to be an important part of the homebuying process. As such, it is paramount for homebuyers to understand what an appraisal is all about and determine whether to conduct an appraisal.
To better understand home appraisals, let's take a look at three home appraisal facts that every homebuyer needs to consider.
1. An appraiser's valuation is his or her opinion of what a residence is worth.
Typically, a home appraiser will use a broad assortment of housing market data as part of a home assessment. The appraiser also will look closely at a residence as part of the home evaluation process.
Although a home appraisal is based on housing market data and a home assessment, it is essential to note that a home valuation is an appraiser's opinion. Therefore, two home appraisers may examine the same housing market data and the same house and come up with two different home valuations.
2. The homes in a neighborhood may affect the valuation of a residence.
Believe it or not, a home's value may be impacted by those around it. Thus, if you intend to buy a home, it often pays to evaluate the neighborhood to better understand whether a house's value will decline, stay the same or increase over time.
Furthermore, what you spend to improve a house is unlikely to raise a house's value proportionately. And if you spend $20,000 on home improvements, there are no guarantees that these home improvements will add $20,000 to a home's valuation.
3. A home appraisal and a home inspection are two very different things.
A home inspection often is considered a must-have during the homebuying process, and perhaps it is easy to understand why.
During a home inspection, a property expert will ensure there are no structural issues with a home and identify any problem areas. Then, a homebuyer can move forward with a home purchase, rescind a home offer or submit a counter proposal based on a home inspection report.
On the other hand, a home appraisal enables a property expert to evaluate the house in its current state. A home appraiser will compare and contrast a home in relation to others in the area and offer a valuation.
If you need help determining whether to conduct a home appraisal, a real estate agent is happy to assist you. With a real estate agent at your side, you can determine whether to set up a home appraisal prior to finalizing a home purchase.
The ultimate goal of a home search is to find a residence that matches or exceeds your expectations. To enjoy a rewarding homebuying experience, you need to prepare accordingly.
Now, let's take a look at three tips to help you reap the benefits of a successful homebuying experience.
1. Narrow Your House Search
Think about where you want to live. By doing so, you can refine your home search and look for houses in your preferred cities and towns.
Also, creating a list of homebuying criteria usually is a good idea. This list can include home must-haves and wants, and ultimately, will help you further narrow your house search.
2. Get Pre-Approved for a Mortgage
Purchasing a house can be simple, particularly for those who get pre-approved for a mortgage. With a mortgage in hand, you can enter the real estate market with a budget. Then, you can pursue houses that fall within your price range and speed up your search for your dream home.
To get pre-approved for a mortgage, it is important to review all of the mortgage options at your disposal. Meet with banks and credit unions and discuss various mortgage options. This will allow you to learn about the differences between adjustable- and fixed-rate mortgages and find a mortgage that corresponds to your finances.
In addition, don't hesitate to ask mortgage questions when you meet with banks and credit unions. Lenders employ friendly, knowledgeable mortgage specialists, and these professionals will do everything possible to help you make an informed mortgage decision.
3. Work with a Real Estate Agent
A rewarding homebuying experience may be tough to achieve if you decide to pursue a house on your own. Thankfully, real estate agents are available who can provide plenty of guidance along the homebuying journey and ensure you can accomplish your desired results.
If you work with a real estate agent, you can take the guesswork out of purchasing a house. First, a real estate agent will meet with you and learn about you and your homebuying goals. This housing market professional then will craft a homebuying strategy to help you achieve the best-possible results as quickly as possible.
In addition, a real estate agent will keep you up to date about open house events, set up home showings and help you analyze the housing market. If you discover your dream house, a real estate agent will help you put together a competitive offer to purchase this home. Plus, if you have concerns or questions at any point during the homebuying journey, a real estate agent can respond to them.
When it comes to simplifying the homebuying experience, hiring a real estate agent is essential. Because if you have a top-notch real estate agent at your side, you can get the help you need to seamlessly navigate the homebuying journey.
Ready to find your dream house? Use the aforementioned tips, and you can enjoy a rewarding homebuying experience.
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There are many ways you can make your house attractive to prospective buyers. Curb appeal goes a long way when it comes to first impressions. Your yard is one indication of the amount of time you’ve spent caring for your property in general. Buyers are undoubtedly attracted to homes that have been properly maintained so if you plan to sell your property, don’t neglect your landscaping. Just like washing the dishes and vacuuming floors positively impacts the look of your interior spaces, regular yard maintenance will do the same for your exterior spaces.
The following tips can help give you a good head start:
Plan to mow your lawn at least once a week. Use a weed wacker or edger to clean up around fences or play yards where your lawnmower might not reach.
Remove weeds, leaves and clippings from walkways and patios. After you mow the lawn, use a leaf blower or broom to remove lawn clippings from walkways. If you have a brick or stone pathway, pull the weeds that may grow between the pavers.
Create clean edges between your grass and planting areas. You don’t need to install special materials to achieve this look. Use a straight-edge shovel to create or refresh an existing edge then add a fresh layer of mulch or stone to complete the transition.
Overgrown plants can be hard for homebuyers to overlook. Neglected shrubs and bushes may block the view of your house, they may interfere with walkways, doors, or other plantings and often just look untidy. Invest in a pair of loppers or hand pruners that can handle the plantings on your property. If you are not familiar with how to approach trimming the shrubs or trees you have, be sure to do some research before you start cutting. A local nursery or landscaper can provide advice on how and during which season you should prune your plantings.
A smart way to attract prospective buyers is to improve the landscaping around your home. Consult with your real estate agent for more ways to improve your curb appeal and for local landscaping resources.