Q & A: The 3 Questions Most Asked by Past Clients
I believe my job doesn’t end at the settlement table, and I want to be your resource for all things real estate even after you move into your home.
Below are the questions asked most by past clients who have bought a home with me. I hope the answers to these questions help you become a more informed homeowner too!
1. Should I Refinance?
The specifics about whether or not to refinance can be tricky, so the answer depends on your situation. Most lenders want to see at least 20 % in equity to allow you to refinance. So, if you don’t think you have the equity or don’t have the money to put down, then stop right here — refinancing is likely not an option right now.
There are costs that come with refinancing, typically around 1% of the loan amount, so deciding whether the refinance is worth the required investment really depends on how long you plan to stay in your home.
You can easily calculate how long the investment in the refinance will take to “pay off” vs. the reduction in your monthly payments. I can show you how to do the math to make sure you plan on being in your home long enough to break even on the upfront costs and monthly savings.
2. What do I need to do to get my home ready to sell?
You do not need to spend thousands of dollars to get your home ready. Nevertheless, in order to make your home looks its best, there are some things you can do to help it look clean, stylish, polished, and ready for buyers.
Check these tasks off your list if you are preparing to sell your home:
Start packing up the non-essential things — like those skis in your mudroom
Give your home a deep clean — all those nooks and crannies should be spick and span
Consider repainting your walls — a $30 gallon of the right color paint can do wonders for your reseal
Declutter your kitchen and pantries — go ahead and toss that ketchup bottle from 2009
Remove window treatments and screens — light sells!
Make sure every room serves a purpose — every room should look like it is intended to be used, even if you haven’t been using it that way.
You can skip replacing your cabinets and just paint them and install new, more modern hardware!
Change out your light fixtures — this can be cheap and easy which makes a huge difference.
Get your bathroom super clean — those stains and dirty grout have got to go.
Reglaze your tub or sink if it looks old — get rid of that old color!
3. Can I estimate how much I will make from the sale of my home?
Yes! I provide something called a “net sheet” when you consider selling your home. I want you to know what range to expect, financially. The net sheet details your expected expenses and proceeds after setting a listing price that takes into account the cost of selling and your mortgage pay-offs so you know exactly what amount yo8u’ll be walking away with at settlement.
I will go through each one of these expenses and credits with you can understand what all the fees and expenses are when it comes to sell.
These are the three questions I hear mot, but I am curious what yours are! Always feel free to email me whenever you have a question about your home or real estate. I am here for you and want to be your go-to source!