Phyllis DiBlasi, GRI, CRS's Blog
There are a lot of things involved in finding a home and obtaining a mortgage. You’ll need to check your credit, get all of your tax paperwork in order, and show proof of your income. It’s an exciting time once you have started the process of buying a Florida home. While buying a home can be very exciting, you don't want your emotions to get in the way of keeping your finances in check. Because you find the home of your dreams and have been approved for a certain amount, it doesn’t mean you need to spend that pre-approval number on the house. Many times, people throw their budgets out the window in order to get a home they love. This lack of financial responsibility is a flawed way of thinking for many reasons.
You know that you don’t want to go into debt before you apply for a home loan. The lender will look at your income and debt-to-income ratio. The lender then determines how much they are willing to allow you to borrow to buy a home. Many Florida homebuyers are surprised as to how much they can spend on a home.
There’s one problem- the bank doesn’t know the ins and outs of your entire financial picture. It can be hard to back out of buying a Florida dream home but buying a house that maximizes your budget will put an even more considerable strain on your financial situation.
You’re The Only One Who Sees Your Budget
You have many monthly expenses that aren’t included as a part of your mortgage application. Your lender doesn’t know how much you spend on cable, Internet, groceries, or gas. There’s a reality of your financial that exists beyond the papers that mortgage lenders require. You need to track your own spending to know what you can truly afford. If you want to get a home that’s a reach in your budget and know you’re approved for a certain amount, it may be time to cut back on some luxuries that aren’t necessary.
Your Home Needs More Than A Mortgage Payment To Keep It Running
You’ll have many monthly bills on top of your mortgage payment including:
On top of these bills, you’ll need a bit of a cushion to allow you to make repairs around the house. Anything can break when you least expect it. As a homeowner, it will be tough to go without a refrigerator or a stove for an extended period. Worse, you can’t risk living with a hole in your roof!
While buying a Florida home at the top of your budget is achievable, it may not be the best choice if you’d still like to live comfortably.
- Cedar is 2 1/2 times more expensive than than vinyl
- Vinyl siding never needs to be painted
- Easy to install
- The material is versatile
- The color will outlast paint
- Water resistant
- Helps to prevent damage from rain and snow
- There’s no time frame of how long vinyl siding will last
- The durability of vinyl siding depends upon how the material itself
- Vinyl siding is often installed over old siding, so existing problems could still remain
- It’s flammable, so grills and other items could pose a hazard
- It may be hard to find a replacement piece in a matching color when you need it
- The siding could increase your home’s chances of developing mold on the outside
- Susceptible to cracks
- Seasonal maintenance is required
Whether you've recently purchased a new home or are in the process of doing so, one of the most satisfying aspects of becoming a homeowner is customizing your living space.
Half the fun of moving into a new home is "making it your own," which can include everything from painting the walls to remodeling the kitchen.
Although it may feel a little odd at first to move into what was recently "someone else's house," it won't take long before you and your family feel a sense of belonging and pride. In many cases, that feeling is instantaneous. While there are dozens of things you can do to create a feeling of coziness, comfort, and security, here are a few tips worth keeping in mind.
Empty those moving boxes. Once the moving crew leaves, the first thing many people do is take a deep sigh of relief and order a pizza -- and why not! If you have all your immediate essentials packed in separate, clearly labeled boxes, then there's no urgent need to set up your household right away. Relax, take in your new surroundings, and enjoy the accomplishment of purchasing and moving into a new home! Once you've taken that initial breather and acclimated yourself to your new living space, however, getting organized and unpacked is one of the next orders of business. If you leave stuff in boxes for more than a week or two, it may delay your feeling of being "settled in."
Add your own decorating touches. If your walls seem sterile, stark, or empty looking, two solutions immediately come to mind: Consider changing your paint color to a warmer shade and hang up some framed paintings or pictures that reflect your personality. In addition to wall art you already own, there are several websites and well-known retail outlets that can help you update and personalize your home décor. Over time, you can also check out local art exhibits, antique shows, and craft fairs.
Landscaping: Depending on the season and the climate in which you live, planting colorful flowers, bushes or ornamental trees can help beautify your property and make it feel like your own. Hedges and fencing can also enhance your sense of privacy and create a backyard retreat that's ideal for relaxing and entertaining.
Security matters: Regardless of how safe and secure your new neighborhood seems, it's always better to be safe than sorry! Since you don't know how many people may have been given keys to your house, such as housekeepers, contractors, neighbors, or friends of the previous owner, it makes sense to change the locks on your doors, as soon as possible. You may also want to do a security audit, which might include testing your window locks and trimming shrubbery that covers windows. Installing a couple motion detector lights in strategic places is another home security measure that can increase your peace of mind and make your new house feel more like a home.
If you intend to sell a Florida luxury home, there is no need to worry. In fact, there are many quick, effective ways to market your luxury residence to the right buyers.
Now, let's take a look at three tips to help you promote your Florida luxury residence to the right buyers, regardless of the current housing market's conditions.
1. Focus on the Location
Your luxury home's location may play a key role in your ability to sell your residence and maximize your earnings, and perhaps it is easy to understand why.
For example, if your Miami luxury house is located just minutes from many beautiful beaches, you likely will want to include this information in your home listing. Or, if your Orlando luxury residence is only a few miles from Disney World, your house may prove to be a popular choice for families.
Don't forget to consider what attracted you to your luxury house in the first place. If your luxury home boasts a dazzling garden, awe-inspiring swimming pool or other captivating features, it pays to include details about these features in your home listing.
2. Establish a Competitive Price
The price that you initially paid for your Florida luxury home is unlikely to match your house's value today. Fortunately, if you conduct a home appraisal, you can better understand your residence's current value.
During a home appraisal, a property inspector will examine your luxury residence both inside and out. This inspector also will consider the prices of luxury homes in your city or town.
Use the information provided in a home appraisal report – you'll be glad you did. This information can help you plan potential home upgrades that will make it easy to differentiate your Florida luxury residence from others in your city or town.
3. Hire an Expert Real Estate Agent
Employ a real estate agent who understands what it takes to sell luxury houses in the Sunshine State. By doing so, you can receive expert support at each stage of the home selling journey.
Oftentimes, a real estate agent specializes in a certain area of Florida. This means a Tampa real estate agent likely knows the ins and outs of the Tampa housing market, but he or she may struggle to sell a luxury residence in South Beach. As such, you should hire a real estate agent who knows exactly what it takes to sell a luxury house in your region.
You should learn about a Florida real estate agent's expertise in the luxury housing market too. Find out how a real estate agent has helped past clients achieve their luxury home selling goals, and you can determine whether this housing market professional can provide you with the home selling support that you need to succeed.
Take the guesswork out of promoting your Florida luxury residence to potential buyers – use the aforementioned tips, and you can boost the likelihood of a fast, profitable luxury home sale.
If you plan to sell a house, it can be easy to try to rush through the home selling cycle. However, doing so may do more harm than good, particularly for home sellers who want to maximize their profits.
Ultimately, a wait and see approach can be beneficial for a home seller. Some of the key reasons to consider taking a wait and see approach to selling a house include:
1. You can clean your house from top to bottom.
A messy home is unlikely to generate interest from large groups of homebuyers. Comparatively, a neat, tidy and pristine home is sure to stir up plenty of interest once it reaches the real estate market.
If you spend some time enhancing your house's interior and exterior, the benefits can be substantial. In addition to making your residence more attractive to homebuyers, you may be able to raise your chances of receiving offers at or above your initial asking price.
To clean your house's interior, you should spend some time mopping the floors, wiping down walls and ceilings and doing whatever you can to make each room look great. Meanwhile, to improve your house's exterior, you may want to mow the front lawn, trim the hedges and do everything possible to ensure your house has plenty of curb appeal.
2. You can conduct a comprehensive home appraisal.
A home seller who immediately adds a residence to the real estate market might not understand what his or her house is worth based on the current housing market's conditions. As such, this home seller risks pricing his or her house too high or too low.
Conversely, if you perform a home appraisal, you can set a competitive price for your residence from day one. This appraisal also will enable you to identify your home's strengths and weaknesses and find ways to transform assorted weaknesses into strengths.
Employ an experienced home appraiser to evaluate your house – you'll be glad you did. With a top-notch home appraiser at your side, you can receive the expert insights that you need to price your house appropriately.
3. You can discover the right real estate agent.
When it comes to selling a house, why should you be forced to work with an inferior real estate agent? Unfortunately, if you rush to add your residence to the real estate market, you may select the first real estate agent that you meet. And in this scenario, you risk making a poor choice.
On the other hand, a home seller who takes a wait and see approach can spend some time evaluating many real estate agents. Then, this home seller can make an informed selection and increase his or her chances of enjoying a successful home selling experience.
There is no reason to hurry through the home selling journey. Instead, deploy a wait and see approach, and you should have no trouble remaining patient and capitalizing on the right opportunities to maximize the value of your house.