Three Great Reasons to Buy a Home Today

Three Great Reasons to Buy a Home Today

The forecast for the 2018 housing market suggests there are a number of reasons to buy a home today.  If you have been thinking of buying a home today but just can’t find the necessary motivation, then you need to consider these issues.

Increasing Home Prices

Home prices have been increasing in the Lansing area for the last couple of years.  Each year you wait to buy a home, you lose buying power.  That house that you have been thinking of buying will cost you more money the longer you wait.  What you can buy today for $750 per month will most likely be much higher by the end of the year 2018.    A $100,000 house will cost $115,762 in 3 years with only 5% yearly appreciation.

Increasing Interest Rates

Most financial experts are expecting interest rates to continue to increase for 2018.  Rising interest rates hurt potential buyers by making the monthly payments increase even if the home values don’t and it hurts buyers because many home owners will not put their homes up for sale knowing that they will also have to buy another home with the higher interest rates.  So, higher interest rates can really hurt in two different ways.

One of the biggest reasons to buy a home today: Missed equity

When house prices are on the rise, you build equity.  When you don’t own a home, you miss the opportunity to build equity.  Think of it as a savings account.  You can’t earn interest if you don’t open an account and deposit money into the account.

Remember that $100,000 house mentioned above?

Well, that $15,762 could be yours in 3 years if you decide to buy a home today instead of waiting 3 years from now to buy.

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Selling a Home – 7 Inexpensive Kitchen Modifications

Selling a Home - 7 Inexpensive Kitchen Modifications

When selling a home, a beautiful kitchen will help bring top dollar. If you already have a functional kitchen, then making these 7 inexpensive kitchen modifications can help you get your home sold for more money.  You don’t have to do an expensive remodel to make your kitchen appealing to buyers.

Here’s 7 inexpensive Kitchen modifications when selling a home!

  1. Clear the counters of any appliances or items that clutter the counter space. You want the counters space to be free and look as open as possible.  Every buyer will want to know the counters are large enough for them to use.  So even though it’s a hassle, put away everything that’s on the counters prior to a showing or open house.
  2. Remove those hanging racks for pots and pans. I know they are useful, especially if you have a small kitchen, but they are a definite turn off to buyers.  Sorry!
  3. Make sure the counters are clean before every showing. Buyers will set their personal belongings on the kitchen counter when they do their walkthrough of the house, so you want it free from any thing that is sticky.  Surprisingly, this is also where most of the agents will write their clients offers and you don’t want their last impression to be dirty counter tops.
  4. Lighting can make or break a kitchen, so make sure to have as much lighting in the kitchen as possible. Sometimes you will need to add lighting under the top cabinets to accomplish this.  Just remember to turn them on prior to any showings because most buyers will not know they are there to turn on.  If you have windows, make sure to have the blinds open to let as much sunlight in as possible.
  5. If the kitchen is still dark after adding lights, then try looking at having the exterior of the cabinets painted or resurfaced in a light color. You would be surprised at how much of a change you can obtain by painting the cabinets.  I have had buyers comment many times on how nice the cabinets look, when I know all the seller did was have then painted.
  6. Don’t forget the flooring! Kitchens have relatively small flooring space, so consider replacing the flooring if it looks warn or old in the least bit.  You don’t want to go wild and spend a lot of money on exotic hardwood, something inexpensive that looks good and matches the kitchen will work.
  7. Lastly make sure the appliances are clean and look nice. You don’t need to upgrade to stainless steel or anything like that but make sure the inside of the oven and microwave are clean.  If they are not clean, buyer’s will wonder if they need to be replaced and will lower their offer price.

The kitchen is one of the biggest factors buyers use to determine if they have an interest in your home. If you are thinking of selling a home, this is where you want to spend your time before you list your home for sale.  Don’t neglect the rest of the house either, but this is where you should spend your resources if you are on a tight budget or time crunch.

If you have any questions or want to sell please fell free to contact me…

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