If you’re like most homeowners, you’ve probably found these past few weeks challenging to say the least. Although the experts say we are making progress, we’re still trying to find our footing on an uncertain road. We’re figuring out how to live and work in new ways.
When it comes to real estate, you may be wondering, “How does the selling/buying process work in times like these?” or, if you want to sell, “Is now a good time or should I wait?”
If you’re looking for answers, please reach out to me.
The Richmond real estate market is very strong. Currently a seller’s market, we are still finding that homes are selling very quickly. If you are a buyer, it is a great time to purchase a home. Interest rates are again, very low.
Yes, there have been changes in how the buying/selling process works, and we are taking the necessary safety precautions when selling a home and helping buyers purchase a home. You will be taken care of, and I am happy to fill you in on the process.
If you are thinking of selling your home, and you are curious as to what your home is worth during this time, I can help you with that as well.
Please feel free to reach out to me. I am here to help.
Blessings to each of you,
“The highest compliment anyone can give me is to recommend me to a friend. If you know of anyone with a real estate need, I would appreciate your referral, and promise to take good care of them”.
Predicting Your Future Housing Needs
What will your housing needs be in three to five years? If you can figure that out, you can watch the market, target areas and neighborhoods you might like to live in, and reap the benefits of planning ahead.
To begin the process, start by asking yourself the following questions:
- What will my family look like in three to five years? Will there be a new addition (or two) to your family? Will you have kids that are grown up and about to move out? What is the possibility that an elderly relative (Mom, Dad or grandparent) will be living with you?
- What will change regarding work and school? Will a teenager be off to college? Will you or your spouse be retired? Will someone in your household be starting a home business?
- How will your lifestyle be different? Will you take up a hobby that you’d like to be able to reach easily (such as golf)? Do you see yourself wanting to live closer to shopping, theatre, walks in the woods, etc.? Will you eventually be traveling more often and, therefore, not be at home as much?
- How is the neighborhood changing? Where is it heading relative to your future needs in terms of residents, noise, sense of community, local developments, etc.? Do you see yourself wanting to live in a quieter community, or a more urban center?
- Will the type of home you need change? In three to five years, can you see yourself wanting a larger home? Smaller home? More bedrooms? Larger kitchen?
- What are your dreams? Do you dream of living in a particular area or neighborhood? Would you love to have a big backyard with a garden someday? Do you sometimes think, “It would be great to have a wooded park with walking trails just a few minutes away.”
By looking three to five years into the future, you will be able to predict your housing needs and make plans – today – to ensure you get what you want in the future.
Whole-Home Security Systems Continue to Evolve
Until recently, even the latest home security system could become obsolete overnight. But, newer whole-home integration systems are much more compatible with interchangeable parts and innovative add-ons.
As a result, it’s now possible to have a multi-faceted security system that watches over many of the functions and activities in and around your home. For example, you can organize and control your home’s exterior cameras, motion detectors, door locks, window coverings, lighting, entertainment, appliances and HVAC with one system.
If you’re buying an entirely new system, there are many established and emerging brands available, so consider their functions, cost, convenience and reliability. But, if you want the whole-home system to manage existing utilities and appliances, things can become challenging. You will need to ensure that your specific devices can communicate with your new hub, which means you need to identify the protocol under which they can share information. Because their compatibility is not certain, it’s advisable to identify the make and model of your existing equipment and check for compatibility before you purchase a new security hub or system.
Lists to Make When Selling Your Home
When you put your property up for sale, you want to make sure that potential buyers get all the information they need on the features of your home and its surrounding area. If, for example, a buyer doesn’t realize there is a great school just a couple of blocks away, he might cross your property off his shortlist.
An effective way to make sure something like that doesn’t happen is to create three lists.
#1: The “I’ll miss it” list.
Chances are, there are things about your home that you’re really going to miss when you move. It may be the spacious living room, ideal for entertaining. Or maybe it’s the nearby park with scenic trails, perfect for walking and biking, or the large deck that has just the right combination of shade and sun to make spending time on it so pleasant. Whatever you’ll miss, put it on the list! Those are features that will probably interest buyers too.
#2: The “Just the facts” list.
What are the facts about your property that a buyer needs to know in order to consider purchasing it? This may be a very long list including such items as total square footage, number of bedrooms and bathrooms, property taxes, size of the lot, and more. This list should also include special features such as upgraded kitchen features and the nearby golf course.
#3: The “repairs and improvements” list.
Buyers are interested in the state of repair of your home, and in any improvements you have made to it. On this list, include all repairs you have done during the past three years and, if possible, attach receipts. It’s especially important to include anything that has been replaced, such as a furnace or roof. If you’ve done any major remodelling or renovations, include the details on those too.
Want more tips on selling your home? Call today.