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Home Selling

Exterior Makeover

This is for the countless number of people I have been talking with over the past 12 months that are trying to sell their homes.

In today’s extremely competitive market, it’s crucial that your home has great curb appeal if you want to get the absolute best price when you sell it – or even an offer from a potential buyer for that matter! If you haven’t already done so, I would highly recommend that you give your home an exterior makeover. Depending upon your home, it may be an extreme exterior makeover.

Here are some tips for an easy and cost-effective way to make your home look great to potential buyers:

Latex paint – is almost everyone’s first choice for exterior paint because it is easy to apply, cleans up with water and dries quickly. On top of that, it’s long lasting. But if you don’t know what you’re painting over, choose alkyd. Alkyds will adhere to most surfaces, including chalking ones; latex is more finicky about what old paints it will bond to.

More About Latex Paint – Is it always damp around your house? Choose a latex paint or stain. Porous latex breathes and lets moisture escape. Moreover, it doesn’t contain vegetable oils that encourage mildew by feeding it. Latex is also great for most masonry and can usually be applied without a primer.

Painting Cinder Block – For cinder blocks, get a solvent-thinned rubber-base paint. The water in latex can penetrate into the blocks, causing embedded iron particles to rust and stain your fresh paint job.

Painting Other Surfaces – You can revive faded aluminum siding with any standard topcoat. But first, you must sand the problem areas, wash the surface well and coat any bare metal with a zinc-based primer. For doors, windows and other places where durability is a concern, pick a glossy paint. It contains more of the resins that give a paint body and hardness.

Power Washing the Siding – If your house’s exterior is badly soiled, rent power washing equipment. The high-pressure jet of water it emits will blast away flaking paint as well as dirt.

Use Sandpaper – Scraping off loose flaking paint is also an important part of preparation. But don’t overdo it. There no need to scrape off any paint that is firmly stuck to the surface. Areas where you have scraped off flakes and blisters will be less noticeable if you smooth the sharp edges of the old paint with sandpaper.

It Really is Painting Season– for most of us. For best results, paint when the temperature is between 50 & 90 degrees Fahrenheit. Spring and Fall are the best seasons for painting. Besides moderate weather, nearby leaf bearing shrubs are usually bare. Be sure to wait until the dew evaporates in the morning before painting, and in the evening, stop before the dampness sets in.

Rent or Buy

Rent or Buy?

For those of you that are homeowners, please share this with your renting friends! It’s easy, just click the share button in the bottom right corner of your screen.

For many people, buying their home makes the most sense, and for many others, renting is the better choice. To help determine which is best for you, it’s wise to first determine if you can indeed afford to buy. Once this is done, you then need to look at other factors, including the time you intend to stay in the new home, the likelihood of your new home appreciating and any increase you may see in property taxes.

Below are a few questions that you can answer to help determine what’s best for you.

Down payment: What best describes your access to one?

  1. I have zero savings and no access to one lump sum
  2. I have some savings, access to a modest lump sum, or both
  3. I have access to a substantial amount of money

I have zero savings and no access to one lump sum

Recommendation: You should rent due to your lack of access to cash.

Here’s why: First off, there are little-to-no zero down payment programs in the current market place. Secondly, not having the funds available for a down payment, or for a “rainy day” will not look well when the underwriter reviews your overall credit risk.

Consider this: If you want to be able to purchase a home in the future, I would suggest that you start saving at the most aggressive pace possible. If you stick to your plan, you will see that it adds up quickly and, before you know it, you will be able to buy!

I have some savings, access to a modest lump sum, or both

Recommendation: You may be able to buy in this case because there are many low-down payment options available.

Here’s why: I said, “you may be able to buy…” because, aside from the assets you have or have access to, we need to look at other aspects of your overall loan portfolio such as debts, income, etc.

Consider this: To get started on a FREE pre-approval for a home loan, including an analysis of all the important details going into a home loan, please apply online or contact me to apply over the phone.

I have access to a substantial amount of money

Recommendation: Assuming the home will appreciate (or at least hold it’s value), the taxes will not skyrocket and you plan to be in the home a while, buying would be a great option for you.

Here’s why: Homeownership is a great idea for you because you can invest your money in an investment that typically does very well. Prices are low, rates are still low and it is a great time for first time home buyers to get into the market.

Consider this: To get started on a FREE pre-approval for a home loan, including an analysis of all the important details going into a home loan, please apply online or contact me to apply over the phone.