How to Set Realistic Expectations for the Homebuying Journey

As a homebuyer, it is paramount to establish realistic expectations for the homebuying journey. That way, you can take a step-by-step approach to achieve various goals along this journey and acquire your ideal residence faster than ever before.

Setting realistic homebuying expectations can be simple. Now, let’s take a look at three tips to help you set realistic homebuying expectations.

1. Assess Your Home Must-Haves and Wants

Dozens of homes are available in cities and towns nationwide. If you establish realistic homebuying expectations, you may be better equipped than others to determine exactly what you want to find in your dream house. As a result, you could reap the benefits of a quick, seamless homebuying experience.

Oftentimes, it helps to create a list of home must-haves and wants prior to searching for a house. This list can be updated as you proceed along the homebuying journey and will serve as a guide to help you discover your ideal residence.

2. Get Pre-Approved for a Mortgage

With a mortgage in hand, you can narrow your home search to residences that fall within your price range. Then, you can speed up the homebuying journey and find your ideal residence in no time at all.

To get pre-approved for a mortgage, you’ll want to meet with banks and credit unions. These financial institutions generally offer a broad array of mortgage options. Examine all of your mortgage options closely, and you’re sure to find a mortgage that matches your finances.

Also, don’t hesitate to ask mortgage questions when you meet with potential lenders. Banks and credit unions employ friendly, knowledgeable mortgage specialists who are happy to help you in any way they can. Thus, you can gain expert insights from these mortgage specialists that could help you make an informed mortgage decision.

3. Collaborate with a Real Estate Agent

A real estate agent understands what it takes to purchase a home in any housing market. Therefore, he or she can help you prepare for the real estate market and establish realistic homebuying expectations from day one.

Typically, a real estate agent first will learn about your homebuying goals. He or she then will help you map out a successful homebuying journey, one that concludes with you discovering your dream house at a budget-friendly price.

A real estate agent offers plenty of support at each stage of the homebuying journey too. This housing market professional will set up home showings, keep you updated about new residences that become available and help you evaluate houses. And if you want to submit an offer on a home, a real estate agent will make it easy for you to put together a competitive homebuying proposal.

Achieving the optimal results during the homebuying journey sometimes can be difficult. But if you establish realistic homebuying expectations, you may be able to streamline the homebuying journey and ensure that you can purchase a great house that suits you perfectly.

Tips for Sellers: Identify Your Target Buyer

For those who want to enjoy a successful home selling experience, identifying your target buyer is key. Because if you understand why buyers may choose your residence over other available houses, you can promote your home to the right groups of buyers. And as a result, you may be better equipped than ever before to streamline the house selling journey.

Now, let’s take a look at three tips to help you identify your target buyer so you can promote your house effectively and speed up the home selling process.

1. Consider the Buyer’s Perspective

Think about why a buyer should choose your residence. Then, you can find ways to promote your house’s features to the right groups of buyers.

Ultimately, a home listing can make a world of difference, particularly for those who want to engage and inform prospective buyers about a residence. If you analyze the buyer’s perspective, you can craft your house listing accordingly.

For example, if your residence is located just minutes from top beaches, you may want to include this information in your home listing. On the other hand, if your home offers multiple bedrooms, you may want to include high-resolution photographs of these bedrooms in your listing to show off the size and beauty of your house.

2. Conduct an Inspection

A home inspection generally is completed after a seller accepts a buyer’s offer to purchase his or her house. But when it comes to identifying your target buyer, you may want to conduct an inspection prior to listing your residence.

During a home inspection, a property expert will examine your residence and offer insights into any underlying issues. You then can prioritize home upgrades, and as such, make your home more appealing to potential buyers.

With a home inspection, you may be able to gain insights into your residence that could be difficult to obtain elsewhere. Thus, if you perform an inspection, you can find ways to improve your residence so you can make your house an attractive option to dozens of prospective buyers.

3. Consult with a Real Estate Agent

If you are unsure about how to target buyers, you may want to collaborate with a real estate agent. In fact, if you have a real estate agent at your side, you can receive expert home selling advice any time you need it.

A real estate agent understands the challenges commonly associated with selling a house and can help you address such issues. First, he or she will develop a personalized home selling strategy and help you showcase your residence to the right groups of buyers. He or she next will host home showings and open house events. And if you receive an offer to purchase your home, a real estate agent can recommend whether to accept, reject or counter this proposal.

Devote time and resources to learn about your target buyer – you will be glad you did. If you use the aforementioned tips, you can identify your target buyer and map out a successful house selling journey.

4 Home renovations you might want to avoid

Renovations can increase the value of your home. However, not every renovation project is a good investment. Unfortunately, many renovations can actually lower your home’s resale value and cost more than you bargained for. If you’re interested in renovating your home, make a note of these projects to avoid:

Too much texture

While texture on walls and ceilings can enhance the aesthetics of a house, it’s not always a good investment to add. Not only are highly textured ceiling and wall finishes often considered dated, they are extremely difficult to remove. To increase texture without hindering future offers, try experimenting with texture in your wall decor and furniture.

Full carpet

Hardwood floors are a well-known plus for potential homebuyers. Conversely, a home with too much carpet might receive fewer offers and lower appraisals. Carpet shows age and damage much easier than wood and laminate, and can also cause issues for those with pet or dust allergies. If you want to add new floors, experts recommend reducing the amount of carpet in your home rather than adding more.

Bold paint colors

Paint is not permanent, but dramatic colors on walls can be a turn-off to potential homebuyers. Color is highly subjective, making neutrals and shades of white a safer bet for a renovation project. Potential buyers would rather consider your home to be a blank canvas than a personalized work of art.

Swimming pools

Adding a swimming pool is not always a wise investment, according to real estate investment experts. Not only is installing a pool an expensive renovation process, the ongoing required maintenance can seem like a huge undertaking to potential buyers.

If you live somewhere with six months or more of hot weather during the year, a pool may be a smart project to invest in. However, it may be more beneficial to spend that money on a patio renovation or other outdoor upgrades instead.

Not every home renovation equals a return on investment. While customizing your home to meet your personal needs is an enormous advantage of homeownership, it’s also helpful to be mindful of the future. By knowing which projects to avoid, homeowners can enjoy their home while boosting property value.

Homeowners Can Save Big With DIY Kitchen Island Innovations

If the cost of renovations holds you back from realizing your desired living space, strategic do-it-yourself projects can save money and accelerate the process.

It’s essential to understand that not every handy homeowner possesses the DIY skills to orchestrate a complete makeover. However, basic understanding of how to measure and use tools allow everyday people to make substantial living space improvements. In fact, more than a few motivated people can create a DIY kitchen island. Given that the meal preparation area ranks among the more expensive to upgrade, a DIY kitchen island can be a game-changer in terms of enjoyment and investment.

Popular DIY Kitchen Island Innovations

The kitchen has more foot traffic than any room in the household and that’s why many consider it the heart of the home. Perhaps the most dramatic change involves adding a DIY kitchen island. This asset allows family chefs expansive food preparation space and a place for friends and family members to gather over small meals and beverages. The following DIY kitchen island innovations illustrate ways you can save big while enhancing your home.

  • Farm Style Center Islands: One surprising innovation involves taking an outdated table or workbench and refurbishing it. Antiques often utilize sturdy hardwoods that can be sanded down, stained, and coated for kitchen use and fixed in place. These furniture items are usually created at the precise height of a modern center island and can be picked up at tag sales or junk stores for pennies on the dollar.
  • Dresser Updates: Like farm tables, a beat-up old dresser can form a DIY kitchen island’s foundation. Identify a piece of furniture that meets your desired height requirement. For instance, dressers of about 42 inches may accommodate bar stool seating. You can remove the top and craft a replacement that extends off one side for a seating countertop. It’s also perfectly acceptable to attach a more expansive countertop over the existing one. Given that repurposed furniture is inexpensive, you’re only paying retail for the countertop materials.
  • Rustic Built-It-Yourself: A DIY kitchen island does not necessarily require you to purchase a manufactured product. Fashioning a kitchen island remains remarkably similar to building a make-shift table or cabinet. Consider downloading basic table-making or cabinet plans and crafting one from lumber. Given that most homeowners are not finished carpenters, rustic designs and appearance can simplify the project.
  • Value of Shiplap: These interlocking boards rank among the more cost-effective home siding materials on the market. They are easy to manage and ideal for the exterior of a DIY kitchen island. This wood material can be installed on three sides of an island, leaving one side available for storage shelving. Shiplap provides aesthetically pleasing lines and can be painted or stained to suit. That makes it a cost-effective material to employ in a DIY kitchen island innovation.

Working families on strict budgets do not necessarily need to build up home improvement savings or leverage equity to enhance their living environment. By thinking outside the box and putting your creative spirit to work, it’s possible to make these DIY kitchen island innovations a reality.