Common home ownership costs can build up over time, especially if you haven’t planned for them. By understanding these common home ownership costs, you will be able to budget more effectively for keeping your property in the best possible condition. Our team at Besst Realty is dedicated to ensuring that you are satisfied with your purchase. Here are a few common home ownership costs that you need to be aware of.

Deciding what you can Afford

When you plan to purchase a home, it is extremely important to take a close look at your budget. It is commonly agreed that you shouldn’t exceed 28% of your gross monthly income in housing expenses. Keep this in mind when you are trying to decide what you can afford when purchasing a home.

Monthly Expenses

Your mortgage payment goes beyond simply paying your mortgage. There are several expenses that are combined during your monthly payment. Your mortgage payment includes paying both the principal and interest of your mortgage. You also need to plan on paying property taxes, insurance expenses, HOA dues, and private mortgage insurance costs.

Utilities

You may have experience paying utility bills if you have rented previously. However, this doesn’t mean that you can overlook these expenses when you purchase a home. Home ownership includes paying for all of the utilities that are used within the property.

Maintenance

Maintenance is important for your property. It will help to ensure that your building stays in good condition. In most situations, providing the appropriate maintenance will help to reduce potential repair expenses. Planning for regular maintenance is an important home ownership cost to keep in mind.

Furnishings and Appliances

When you purchase a property, you will also have to consider how you intend to furnish the property. Your furnishings and appliances will often add to the expenses required in moving into the property.

Possible Repairs

Keeping an emergency fund can go a long way toward help handle repairs. When damage is present in the building, fast repairs can help to prevent the damage from escalating.

Down Payment

When you decide to purchase a home, it will be important to consider the down payment. This is usually around 20% of the purchase price. It may require a bit of saving to ensure that you can make the down payment on the property that you want. It is also important to consider closing costs that you may experience. These can include everything from HOA fees to property inspection fees. Plan on paying around 2-7% of the purchase price for your closing costs.

Moving Expenses

When you first purchase a home, you will have to pay to move into the home! The total expenses for this will depend on how you proceed with the move. At a minimum, you will need to pay for moving supplies. You may also need to pay for a truck rental or professional movers. On average, it costs between $500 and $2000 to fund your move.

Being aware of these common home ownership costs is an essential component of purchasing property. Working with a realtor will ensure that you are able to find the best possible home that meets your needs and your budget. To learn more about some of the most common home ownership costs or how we can help you find the best property for your budget, contact us at Besst Realty today!

The sales process can be difficult to navigate, especially if it is your first time selling a home. Working with a realtor is often an important part of ensuring a successful sales process. Our experts at Besst Realty can help to ensure that you are able to substantially simplify your own process. Here are a few of the important things that you should know when selling your home.

Consider a Pre-Listing Inspection

It is essential to ensure that you are well-aware of the condition of the property prior to listing it. A pre-listing inspection will uncover any issues that you need to be aware of before selling your home. This will enable you to make future decisions, such as whether to repair an issue or simply lower your asking price.

Take Time to Make the Home Show Ready

While your lived in home may be more comfortable, it will make it more difficult for a potential buyer to picture themselves living in the home. Due to this, it is important to invest time in making the home show ready. This will help you to make your home as appealing as possible.

Focus on Increased Curb Appeal

First impressions are an essential part of the selling process. People form first impressions in moments. By substantially increasing the curb appeal of the property, you will be able to ensure it is better able to make a good first impression to buyers.

Choose the Right Price

It is essential to put a significant amount of thought into the listing price of your property. In order to do so, it is important to research the housing market in the area, as well as the value of the property. Our team has the information necessary to help you decide on the ideal listing price for your home.

Market the Listing

The most effective listings will be easily found by potential buyers. Investing some resources into marketing the listing will help to ensure that it can be found. Our team at Besst Realty can help to ensure that the listing is more visible to potential buyers.

How Much Equity do you Have in the Home?

Understanding the equity that you have in your current property will help you to make better financial decisions. Homes tend to increase in value over time. This is how you build equity in the property.

Consider Repainting

Neutral tones are ideal for selling a home. Your own tastes may not necessarily appeal to someone else’s tastes. By changing the paint color to more neutral tones, you can prevent this from chasing buyers away.

Remove Clutter

Organizing and decluttering your home will help to ensure the building maintains a better appearance. This provides multiple advantages. Less clutter ensures the building looks better. It also makes it easier to move when the time comes. Finally, decluttering the property can help you to identify problems that may be hidden by the sheer amount of belongings you have.

Clean the Property Thoroughly

It is essential to ensure that the property is cleaned thoroughly prior to showing it. When a home develops grime and dirt, it will look much more worn down. By cleaning the property, you will greatly enhance its appearance.

When you are selling your home, it is useful to work with a professional realtor to guide you through the process. This step can help to ensure that you are able to obtain the ideal outcome for your own sales process. To learn more about how to prepare your home for selling, as well as how our team can aid with this process, contact us at Besst Realty today!

The realtor that you work with will have a substantial impact on the outcome of your home buying or selling process. It is important to ensure that you work with an experienced, professional realtor that will ensure the most positive experience possible. At Besst Realty, our expert team is happy to provide you with the array of real estate services that you need to purchase the home of your dreams or sell your current property. Here are a few of our top tips for choosing a realtor.

Get Referrals

If you are unsure where to start with finding a realtor, consider asking your friends and family members for referrals. Ask if they have had a positive experience working with a realtor in the past. This can help you to identify some realtors that you may have a similarly positive experience working with.

Do your Research

It is extremely important to ensure that you take some time to do your research prior to deciding on a realtor. This can help you to learn more about the specific realtor, their experience, and online reviews that they have.

Go with your Gut

Work with a realtor that you simply feel good about working with. It is important to have good chemistry with your realtor and ensure that you get along well with each other. You also need to be confident and have trust in your realtor. This will substantially impact the outcome of your process.

Clear Communication

The home buying process requires a great deal of communication. It is important to consider the communication style of the realtor that you intend to work with. Clear communication can eliminate many issues in the process.

The realtor that you choose to work with will have a substantial impact on your home buying or selling process. When you follow these tips, you will be more likely to find a realtor that meets all of your specific needs and requirements. To learn more about how to choose a realtor, contact us at Besst Realty today!