Jeff Cook Real Estate BlogRecently posted or modified blog posts by tag - Home valuehttps://www.jeffcookrealestate.com/blog/Copyright JeffCookRealEstate.com2023-02-28T14:39:31-07:00tag:jeffcookrealestate.com,2012-09-20:15740How Do I Know When it's Time to Sell My Home?Many factors are in play when you determine if it’s time to <a href="https://www.jeffcookrealestate.com/sellers/why-sell-with-jeff-cook/">sell your home</a>. You may even be wondering if right now is a good time. Whether you feel a pressing need to sell or are just considering your options, the team at Jeff Cook Real Estate can help you make the best decision. Here are some major considerations for when you should or should not sell your home.
When To Sell Your Home
It’s easy to get caught up in market conditions, news reports, and many other issues that can impact a decision to sell your home. The following factors all make it a good time for you to consider selling your home in the Carolinas.
When Interest Rates Are Low
<a href="https://www.jeffcookrealestate.com/blog/interest-rates-and-buying-a-home/">Low interest rates</a> means that buyers seeking a new home will pay less interest on a mortgage loan. This means their dollars will go further, allowing them to purchase more home for their budget. This also creates more demand, as many people want to buy when interest rates are low. You can benefit because greater demand and buyers with more money to spend can allow you to sell at a higher profit.
When the Supply of Available Homes Is Low
In a “<a href="https://www.jeffcookrealestate.com/blog/faq-what-is-a-sellers-market/">seller’s market</a>,” there are fewer houses for sale and more buyers looking to find a home. This gives you, the seller, appreciable leverage, or negotiating power. You can set a higher price and give away less on negotiated terms because your home is in greater demand and available options are few.
When It’s Time to Relocate
Whether you have the itch to <a href="https://www.jeffcookrealestate.com/blog/should-you-break-up-with-your-house/">break up and start over with a new home</a>, or you need to relocate for your career, you may be looking to <a href="https://www.jeffcookrealestate.com/blog/buying-and-selling-a-house-at-the-same-time/">sell your current home and buy a new one</a> elsewhere. You may need to downsize, upgrade to a home with more space, or just change locations. A voluntary or involuntary move can place equal pressure on you to sell your Carolina home.
When You Have Lots of Equity
<a href="https://www.jeffcookrealestate.com/blog/what-is-equity/">Equity</a> is your property’s actual value after subtracting any liens or other debt attached to the property. As your home’s value increases, you stand to earn a significant profit from selling. This happens as you pay down the mortgage over time, make improvements that raise the home’s value and attractiveness, and other market conditions make your property of greater value.
When NOT to Sell Your Home
Every issue has pros and cons, and selling your home is no different. Here are some circumstances that make it better to hang on to your existing home.
You Have Little Equity
Just as lots of equity creates desirable circumstances for selling your home, not having much equity makes it a poor time to sell. With much of the mortgage left (or even a second mortgage) and closing costs, you may only break even with a sale at the wrong time, or even have to pay some out of pocket just to get rid of it. If you have missed a few mortgage payments or market conditions have actually caused area property values to fall, you may want to hang on to your home for now and wait for better conditions.
There Are Too Many Homes Available
If your local South Carolina housing market is flooded with more homes than buyers — a “buyer’s market” — you should hang on to your home for now. Competing for buyers’ attention and being forced to make expensive compromises places you in a poor selling condition. It is not an impossible situation, but it is definitely one that should give you pause.
You Can’t Afford to Buy Another Home
Of course, if you’re considering selling your home, you will need another place to live. Can you afford to sell your existing home and make a reasonable down payment on a new one where you wish to live? Will your profit from selling cover your remaining mortgage and closing costs, plus leave a respectable profit? If there is any doubt about having enough finances to sell and buy another home, you should wait.
Your Home Needs Work
What will your home look like to potential buyers? Could the kitchen use a <a href="https://www.jeffcookrealestate.com/blog/new-years-resolution-home-edition/">modernization or remodel</a>? Are the bathrooms outdated and worn? These and other issues not only make a home less desirable, but they could force you to lower your asking price so a potential buyer will see the home as a good deal/fixer-upper.
Are you wondering if now is the best time to sell your home in South Carolina? Jeff Cook Real Estate can help! <a href="https://www.jeffcookrealestate.com/">Call or message us online today</a> to speak with a skilled and experienced agent.
<br /><br />2023-02-17T12:00:00-07:002023-02-28T14:39:31-07:00Patricia Utseytag:jeffcookrealestate.com,2012-09-20:14202Interest Rates and Buying a HomeIf you’re looking into buying a home, and even if you wish to sell your home, you will need to pay attention to interest rates. These rates can mean paying more or paying less over time for a home. They are a necessary evil when obtaining funds from a lender, but they are not something to fear.
Learn more about <a href="https://www.credit.com/personal-finance/how-interest-rates-work/">interest rates</a> and buying a home and how you should view interest rates in the home buying process.
What Should I Know About Interest Rates?
The United States Federal Reserve is sort of a central bank that distributes currency and monitors monetary policy for the country. One of their jobs is to regulate the economy and prevent serious problems. Part of doing that is raising and lowering interest rates.
Interest rates are what the government charges banks to borrow money. In turn, banks forward these charges to consumers. When you borrow money, say, to purchase a home, you are required to pay a certain amount above the actual purchase price, as the price of borrowing money. This covers the bank’s risk in loaning you money.
<a href="https://www.jeffcookrealestate.com/blog/whats-the-deal-with-interest-rates/">How do interest rates affect buying a home?</a> Higher interest rates cost home buyers more money over the life of a loan. A mortgage loan with as much as a half percent higher interest rate can add to your monthly payment and your overall cost, because you are paying more to the bank to borrow the money.
Eliminate Fear and Buy a Home
Now, for the uninitiated, some interest rates can scare them away from making a home purchase. Of course, everyone wants to purchase a home at the most favorable interest rate possible in order to save the most money. But waiting out the economy, or what the fickle Fed may do, can be a shell game that only breeds frustration.
There are things you can do as a potential buyer to <a href="https://www.chase.com/personal/mortgage/education/financing-a-home/ways-to-reduce-mortgage-rates">help get the lowest possible rates</a>. These include:
Improve your credit score
Reduce your debt
Have a large down payment
Increase your income
Apply for a shorter term loan
Shop lenders for the best rate
Overall, the best advice for interest rates and buying a home is this: marry the house and date the rate. In other words, make a permanent commitment to the home of your dreams, realizing that interest rates will come and go.
Finding the perfect home for your family’s needs can be a tough chore — and when you finally find it, you don’t want to be stymied worrying about interest rates. When you find the perfect home, ACT! Buy the home at the best interest rate available and settle in to enjoy it. Eliminate the fear of interest rates and live your life in your new home to the fullest.
Because interest rates always shift, be sure to lock in your interest rate at the current rate, and keep an eye on how they fluctuate. If the rates drop an appreciable amount, <a href="https://www.jeffcookrealestate.com/buyers/refinancing/">refinance to the lower rate</a>. If they rise, at least you already have a lower rate locked in.
Get Help from a Local Real Estate Expert
Knowing when and how to buy a home can be troublesome, but it can be much easier with help from a local real estate expert. Jeff Cook Real Estate is the top rated real estate agency in South Carolina because our agents treat you like family. We’re not satisfied until you’re satisfied. <a href="https://www.jeffcookrealestate.com/contact/">Contact us today</a> and connect with an experienced local real estate expert in South Carolina who can make buying a home a breeze! 2022-08-17T09:55:00-07:002022-11-14T12:26:58-07:00Jeff Cooktag:jeffcookrealestate.com,2012-09-20:14201What You Need to Know About Title Insurance Among the several items you will encounter in <a href="https://www.jeffcookrealestate.com/buyers/what-are-closing-costs/">closing costs</a> during the home buying process is title insurance. Many people try to save all they can in closing costs and may ask to eliminate this item. Most lenders require this insurance when you purchase real estate, but title insurance for the buyer is optional.
Here’s what you need to know about title insurance and how it protects you and the lender.
What is Title Insurance?
“<a href="https://www.forbes.com/advisor/mortgages/title-insurance/">Title insurance</a> is a policy that covers third-party claims on a property that don’t show up in the initial title search and arise after a real estate closing.” This insurance protects you and the lender from financial loss in the event a problem arises with the title to your real estate after closing. This can even happen years after you purchase your home.
Before the closing date, your mortgage lender will contract a <a href="https://homebuyer.com/learn/what-does-a-title-company-do">title company</a> to perform a title search. This is a public records search that seeks to discover any liens, easements, or encumbrances that could prevent you from buying the home. If any third party (unknown heir, contractor, tax authority, lender, etc.) has an issue against the title, it cannot be bought or sold until the issue is cleared.
Problems that can arise and tie up a title during closing can include:
An unknown heir that was left the home in a will, but wasn’t previously discovered
An unpaid property tax bill; the tax authority can place a lien against the property
A contractor can place a lien if they claim an unpaid bill for renovations or repairs
An easement for access by a utility company can restrict how the property is used
Zoning ordinances that prevent certain uses of the property
Restrictive covenants by homeowners associations
Sometimes these issues do not come to light, for various reasons, until after the home has been purchased. What happens to these claims then? They do not simply go away. Title insurance protects you and the lender against surprises like these that could cost you a great deal of money.
What Does Title Insurance Cover?
The two types of <a href="https://time.com/nextadvisor/mortgages/what-is-title-insurance/">title insurance</a> protect both parties at risk in the home buying process: the lender and you, the buyer. One is generally required; the other is optional.
If a dispute arises after loan closing, title insurance protects the lender and you (if you purchased buyer title insurance) and provides for legal fees or other expenses required to settle the problem.
For example, it comes to light after closing that the state has a property tax lien against your newly purchased home. Title insurance would cover the legal fees and the unpaid tax bill. Or, if a neighbor claims a disputed easement against your property after the loan closing, title insurance would cover the legal fees to settle the matter.
Lender Title Insurance
Title insurance for the lender protects them against claims that could arise against the real estate they have loaned money against. It is typically required by the lender to cover their risk. The lender is covered for up to the loan amount until the mortgage loan is paid in full. Then, since their risk ends, so does their protection.
Buyer Title Insurance
Title insurance for the buyer is optional, but as a one-time expense at closing, it can certainly be worth the cost. Even the most diligent title company can make honest mistakes, and unknown circumstances can arise. Buyer title insurance protects you for as long as you own the property.
Get the Help You Need During the Home Buying Process
Don’t be left wondering about the home buying process. Jeff Cook Real Estate can provide all the guidance, information, and advice you need when seeking to buy a home in South Carolina. <a href="https://www.jeffcookrealestate.com/contact/">Contact us today</a> to connect with a licensed real estate agent with the skills and tools to make buying a new home a pleasure!
2022-08-10T09:45:00-07:002022-08-03T08:53:42-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:13598What's The Deal With Interest Rates?If you’re currently looking at <a href="https://www.jeffcookrealestate.com/buyers/">buying a home</a>, you may be asking yourself this question. The Federal Reserve raised interest rates on March 16 of this year in an attempt to control rising inflation. What does this mean for buying a home? What if you already own a home?
The Federal Reserve and Interest Rates
In 1913 the government established the Federal Reserve to help <a href="https://www.wsj.com/livecoverage/federal-reserve-meeting-inflation-rate-may-2022">regulate the American economy</a> and prevent economic fluctuations and downturns. The Federal Reserve is sort of a central bank that distributes currency and makes policies about money.
A part of that is regulating the amount of money in circulation throughout the American economy and raising and lowering interest rates. The theory is, if interest rates are higher (costing more to borrow money), people and businesses will borrow less money and the economy flows slower, which is supposed to help lower inflation.
How Do Interest Rates Affect Buying a Home?
When the Federal Reserve raised interest rates, banks were forced to pay more interest to get money, which they, in turn, charge you to borrow money. This means that the interest on any loan from lenders, including mortgage loans, is now higher than before. The banks pass on the higher interest rates they are charged to you, the consumer.
How do interest rates affect buying a home? Higher interest rates cost home buyers more money over the life of a loan. A mortgage loan with as much as a half percent higher interest rate can add to your monthly payment and your overall cost, because you are paying more to the bank to borrow the money.
Should I Fear Higher Interest Rates?
Not necessarily. If you’re focused on <a href="https://www.jeffcookrealestate.com/buyers/">buying a home</a> right now, and you’re financially prepared with an adequate down payment, go ahead and buy the home you want or need. Interest rates fluctuate and the housing market changes often. While yes the interest rates are rising, interest rates are still extremely low compared to interest rates in the 1980’s and 1990's. Also, if you’re poised to make a cash offer, you need not fear interest rates at all. An experienced Realtor® can help you decide if you’re truly ready to purchase a home now. Remember, interest rates can rise again, making now the best time to buy for a while.
If you’re <a href="https://www.jeffcookrealestate.com/sellers/">selling a home</a>, you may feel confused about selling right now. The sense of urgency to sell before interest rates increase is due to the effect the increased rates have on potential buyers’ power. Buyers will have to pay more to borrow money, causing them to be able to afford less than they previously could have afforded so they will want to negotiate more for a better price. Again, a seasoned Realtor® can help you with those decisions, including how to price your home to allow for negotiating, how to set up your home for viewing to make the best impressions and more.
Although the fear may have been negated, there is still a sense of urgency if you are buying or selling. If you’re buying, your buying power is reduced with every increase to the interest rate meaning you may not be able to get as much house. For this same reason, the pool of approved buyers has potential to decrease, so if you've been thinking about selling, you may want to act soon in order to take advantage of having more qualified buyers!
Jeff Cook Real Estate is the premier real estate firm throughout South Carolina, with many programs for helping you when selling or buying a home. <a href="https://www.jeffcookrealestate.com/">Contact us today</a> and speak with a team member about your concerns. We’re glad to answer your questions and help you negotiate the ever-changing housing market.2022-05-24T13:51:00-07:002022-07-15T05:39:22-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:13155Charleston, SC Is AmongThe Nation’s Hottest Real Estate MarketsLife in the low country has always been viewed as preferred living, but now more than ever, <a href="https://www.jeffcookrealestate.com/charleston/">real estate in Charleston, SC</a> is a hot ticket. And if recent real estate trends continue, this may see an even more significant housing boom to impact market trends. Take a look at why Charleston, SC is among the nation’s hottest real estate markets.
Low Country Culture
Southern culture and our way of life has always had a strong appeal. While culture is hard to quantify, there is no doubt that Charleston stands apart when it comes to southern charm. The city is rich in history, culture, great dining and shopping experiences, and fabulous real estate opportunities.
Known for <a href="https://www.jeffcookrealestate.com/blog/moving-to-charleston-charlestons-dog-friendly-restaurants/">fabulous seafood and other uniquely southern cuisine</a>, Charleston also boasts an active nightlife scene, dozens of tourism attractions, fine hotels and charming BnBs, an active economy, top-tier educational institutions, superior medical care, <a href="https://www.jeffcookrealestate.com/blog/moving-to-charleston-top-gyms-to-start-the-new-year/">numerous fitness and exercise venues</a>, and plenty of career opportunities.
Just look at these accolades from 2021:
Charleston ranked as one of the <a href="https://www.natlawreview.com/article/where-to-open-shop-new-report-ranks-best-places-to-do-business-us">best cities in America to do business</a> by AZ State University study.
Charleston ranks #4 <a href="https://www.miamiherald.com/news/business/article250009389.html">Best cities for post-pandemic Life</a> by Today.com
Charleston has <a href="https://www.counton2.com/news/local-news/charleston-county-news/seven-charleston-hotels-ranked-among-best-in-the-world-by-tripadvisor/">7 of the top best hotels</a> in the world according to TripAdvisor.com
U.S. News and World Report’s <a href="https://realestate.usnews.com/places/rankings/best-places-to-live">150 best places to live in the United States</a> places Charleston in the top third.
U.S News and World Report <a href="https://realestate.usnews.com/places/rankings/fastest-growing-places">25 Fastest Growing Cities</a> in 2021 ranks Charleston #19, <a href="https://homesforsalelistings.net/real-estate/sc/myrtle-beach">Myrtle Beach</a> #1, <a href="https://homesforsalelistings.net/real-estate/sc/spartanburg-mls-properties">Spartanburg #12</a>.
<a href="https://www.tripadvisor.com/TravelersChoice-Restaurants-cFineDining-g191">Trip Advisors 2021 Best Fine Dining restaurants</a> in America ranked four restaurants in Charleston in the top 25: Halls Chop House #3, Circa 1886 ranked #9, Peninsula Grill #14, and 82 Queen #25.
For the ninth year in a row, <a href="https://www.travelandleisure.com/worlds-best">Travel + Leisure</a> readers crowned Charleston, South Carolina, the No. 1 city in the United States.
Charleston ranked #2 City in America to retire by <a href="https://wallethub.com/edu/best-places-to-retire/6165">Wallethub.</a> (<a href="https://homesforsalelistings.net/real-estate/sc/columbia">Columbia SC</a> #11)
Mount Pleasant ranks in <a href="https://wallethub.com/edu/best-worst-small-cities-to-live-in/16581">WalletHub’s #9 most livable</a> small city in America
Charleston Ranked #13 as Best Cities in USA for <a href="https://smartasset.com/data-studies/best-cities-for-military-retirees-2021">military retirees by SmartAsset.com</a>
Charleston ranked <a href="https://realestate.usnews.com/real-estate/slideshows/the-30-most-fun-places-to-live-in-the-us?slide=26">#6 Most “Fun” places to live in the USA</a>, by US News.
Porch.com ranked Charleston <a href="https://porch.com/advice/best-cities-for-single-millennials">#1 City in America for Single Millennials</a>.
Charleston <a href="https://wallethub.com/edu/e/best-worst-college-cities-and-towns-in-america/8974">#10 best mid-sized college town</a> in America.
Rising Local Incomes
According to the US Bureau of Economic Analysis, a division of the Department of Commerce, Median Household Income in Charleston, SC <a href="https://www.bea.gov/data/income-saving/personal-income-county-metro-and-other-areas">grew 10.77% from 2019-2020</a>. This is the largest one-year increase observed out of all US metropolitan areas. The average median income now sits at $70,505.
This is a major factor that is driving up prices for real estate in Charleston, SC. Combine this data with an <a href="https://www.postandcourier.com/business/real_estate/inventory-interest-rates-millennials-and-more-what-s-ahead-for-charleston-real-estate-in-2022/article_03eea702-61ce-11ec-a2a0-9f26ecd37ed0.html">almost 40% drop in housing inventory</a>, and the prescription for a jump in home prices is clear. Rising local incomes make it easier for Charleston families to afford housing in this market.
Inbound Migration
The market trend of <a href="https://www.census.gov/topics/population/migration/guidance/user-notes.html">northern residents moving south</a> is nothing new, but those living in the low country are meeting more new neighbors from northern states than ever before. A migration study from one of the country’s top moving firms reveals that South Carolina is the <a href="https://www.unitedvanlines.com/newsroom/movers-study-2021">third-most-popular destination for new movers</a>. Of all moves into and out of South Carolina in 2021, 63% were inbound moves.
According to the <a href="https://www.crda.org/news/2021-exactly-how-many-people-move-into-the-charleston-region-each-day/">Charleston Regional Development Alliance</a>:
The Charleston metro area population is estimated at 819,705 in 2020, an increase of approximately 14,600 people and up 1.8% from 2019 estimates.
This regional growth equates to 40 net new people per day added to our community, 33 moving here and 7 new births.
Of those 33 people moving here each day – 69% are in the prime working ages 18-54. Just 5% are 65 and older.
Buy or Sell Real Estate in Charleston, SC
All this combined with coastal living at its finest — no wonder real estate in Charleston, SC is considered prime property, with many options within the city and around the area for families of all sizes and income brackets. Market trends can fluctuate, but Charleston’s low country appeal keeps it in the top rankings of best places to live.
Jeff Cook Real Estate can help you locate the best home to fit your needs if you are moving to Charleston. Or, if you are looking to sell real estate in Charleston, SC, we can help you sell faster and for a better price. <a href="https://www.jeffcookrealestate.com/">Contact us today</a> with your questions or real estate needs. 2022-03-23T06:32:00-07:002022-03-15T18:52:56-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:13152What is the MLS? MLS is an acronym for <a href="https://www.investopedia.com/terms/m/multiple-listing-service-mls.asp">Multiple Listing Service</a>, also used in the plural form, Multiple Listing Services. This is perhaps one of the most important tools when working with a Realtor® for <a href="https://www.jeffcookrealestate.com/sellers/">selling a home</a> or <a href="https://www.jeffcookrealestate.com/buyers/">seeking a home to buy</a>. The first MLS was created in the 1800s and for many decades, Realtors circulated printed catalogs of available real estate listings. Now the MLS is largely online, facilitating a much simpler understanding of the market, as well as easier and faster searches and sales.
Understanding the Market in a Modern Real Estate World
Our modern digital world has vastly improved a widespread sense of understanding the market. <a href="https://www.realtor.com/advice/buy/what-is-the-mls-multiple-listing-service/">Approximately 580 regional MLS databases</a> are accessible instantly to cooperating real estate brokers, allowing them to obtain data about available properties and make real-time updates. Brokers that both list properties for sale and who are seeking available properties for clients to purchase can easily share information and financial arrangements.
These digital MLS databases contain all the available houses for sale by the affiliated brokers, including but not limited to:
Pricing information
Contact information
Photos
<a href="https://www.jeffcookrealestate.com/blog/home-spring-refresh-top-storage-organization-tips/">Square footage</a>
Layout diagrams
Property history
Seller disclosures
<a href="https://www.jeffcookrealestate.com/blog/buying-a-home-what-is-an-hoa/">HOA regulations</a>
Property details
Current property tax rate
Easements
Brokers that subscribe to their local MLS service can also subscribe to gain access to MLS databases in other regions. This allows them to help clients that wish to move into different regions. The data provided contributes to the realtor’s understanding of the market, allowing them to offer better advice to their clients.
MLS listings do more than show who is selling a home and where. They provide valuable pricing information, trends in homes that sell quickly and do not sell easily, and more. Plus, this information is quickly available with just a few clicks, instead of flipping through dozens of pages in a catalog, or searching many different websites for online listings.
Can the MLS Help Me with Selling a Home?
The MLS service is a vital tool in your realtor’s toolbox to help you when selling a home. <a href="https://www.nar.realtor/nar-doj-settlement/multiple-listing-service-mls-what-is-it">MLS effectively levels the playing field</a>, regardless of where you live or the local real estate market. Small brokerages have equal access for listing homes for sale just like multi-state firms. Everyone has equal access to the largest listing of properties for sale in the marketplace.
This places your home before hundreds or even thousands of realtors that represent many thousands of clients who are seeking a new home. Real estate professionals in other areas gain a better understanding of the market where your home is located, which helps them provide the best counsel to their clients about making a purchase. Selling a home has never been easier, especially with MLS databases being available online.
Jeff Cook Real Estate <a href="https://www.jeffcookrealestate.com/communities/">handles MLS listings in the real estate markets</a> of Charleston, Columbia, Greenville, Rock Hill, and Myrtle Beach, South Carolina, and Charlotte, North Carolina, along with dozens of surrounding communities. Selling a home does not have to be the headache many believe it to be — Jeff Cook sees to that! His integrity and intensity result in most listings only spending 27 days on the market before selling. AND, Jeff’s clients receive 99.7% of their original asking price.
Call us today at 855-HEY-JEFF or <a href="https://www.jeffcookrealestate.com/contact/">contact us online</a> and ask about help with selling a home in the Carolinas. If you are seeking to buy a home in our area, no one has a better understanding of the market than Jeff. Call today and let us help you buy the perfect home! 2022-03-15T15:45:00-07:002022-08-26T10:04:03-07:00Patricia Utseytag:jeffcookrealestate.com,2012-09-20:10839These Landscaping Tips Can Increase Your Home Value<img src="https://assets.site-static.com/userfiles/1451/image/Outdoor_Patio.png" width="2717" height="1811" alt="Outdoor Patio" />
When buying or selling a property, landscaping can be a competitive advantage in the market, making houses attract even more attention from homebuyers.
We have collected some landscaping features to increase your <a href="https://www.jeffcookrealestate.com/blog/increase-the-value-of-your-property-with-these-design-ideas/">home value</a>.
1. Put your land in the spotlight with a lighting system.
A tailor-made and well-designed lighting system can offer a return on investment of up to 50%. You can use several techniques, such as illuminating a passage or casting a soft light on hedges and plants.
Take advantage of upward lighting, which involves projecting the light on the walls to create light and shadow play. Well-positioned lighting creates points of interest on your land and your home, improving their visual impact.
Low lighting can highlight structural details and create a feeling of coziness and warmth.
2. Planting trees.
Trees contribute to more than just aesthetics, they can increase a property's value. Additionally, when trees are properly positioned, they increase in value as they grow and mature.
Another plus: planting trees that provide just enough shade on your home will help reduce your air conditioning bill in the summer.
3. Add a patio and enjoy a return on investment.
Patios are a great way to extend your living space outdoors while adding value to your home. The patio also gives you a view of other <a href="https://www.jeffcookrealestate.com/blog/best-plants-for-your-garden-in-south-carolina/">features of your yard</a>, in addition to being the ideal place to eat and sunbathe.
Have you opted for the patio? Make sure to light it up enough and take every precaution to protect your patio from premature wear and tear.
4. Add a complete terrace.
A beautiful terrace allows you to take advantage of the extra space for pleasant outdoor activities such as family reunions, parties, and dining. In addition to allowing you to spend quality time with your friends and relatives, it increases the resale value of your home thanks to its <a href="https://www.charlestoncitypaper.com/story/seven-ways-to-boost-your-homes-curb-appeal?oid=32088848">visual appeal</a>.
When buyers are asked to name the top 10 attractions they look for when buying a home, many mention terraces. A complete terrace can generate a return on investment of up to 67% when selling a home.
5. An outdoor kitchen.
How about being able to prepare, cook and eat your meals outdoors? Making this luxury accessible is one of the distinctive advantages of outdoor kitchens.
These can include a BBQ, counters and even kitchen islands, a wet bar, and some comfortable furniture to relax in when the day or party continues outside in the summer.
Materials that are weather-resistant wood or stainless steel are often preferred. An outdoor kitchen will significantly increase the value of your property by a large margin.
In conclusion,
Properties with spaces dedicated to landscaping draw the attention of buyers that value a private space and are looking for a better quality of life. Landscaping is important since it increases the home value, but <a href="https://www.jeffcookrealestate.com/">Jeff Cook Real Estate</a> can get you more money for your home when you are ready to sell.2021-06-07T08:00:00-07:002021-06-07T05:34:12-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:6068Smart Home Features to Add to Your Home
Especially when buying or selling a home, a smart home can be a true differentiating factor that sets the home above the rest. Since home automation systems are quite new, an updated system will add to your home’s comfort and it is one of many strategies to increase your <a href="https://www.jeffcookrealestate.com/blog/increase-the-value-of-your-property-with-these-design-ideas/">home value</a>.
Smart Appliances
One of the most prominent places in your home to implement the most up-to-date smart features is your kitchen. There has never been a better time to be more connected to your <a href="https://www.allrecipes.com/gallery/the-best-of-lowcountry-southern-cooking/">cooking</a>. From smart dishwashers and refrigerators to a smart range hood, there are smart kitchen appliances for every home’s needs. (Some of them we didn’t know we needed until we learned of their existence!)
Smart Plugs
These little guys are the perfect way to add smart features to any room of the house. If there is an ordinary device that you plug in, you can upgrade it to a smart feature by utilizing smart plugs that automate and control whatever you connect to it. Smart plugs are a convenient and affordable way to enhance your space.
Smart Smoke Detector
You can rest assured that your home and loved ones are safe with smart features like the smart smoke detector. Compatible with your wifi and an app, these devices can quickly and calmly alert you whether you are home or away to any dangers of smoke or carbon monoxide.
Smart Routers and Home Devices
To take your smart home features to the next level, you can take advantage of smart routers and home devices. Widen the range of your wifi and smart features with a smart router that extends the reach of your wifi to enable your smart devices from one end of your house to the other and boosts your wifi signal. Pair this with a home device and you can essentially have a home where you can find out the weather or news from any room, use voice commands to turn on or off your lights or play music.
As home automation systems become more popular, they are becoming more affordable. As a result, your home will be more valuable, not only to potential <a href="https://www.jeffcookrealestate.com/blog/process-of-buying-a-home/">buyers</a> but also to you and your family. 2021-05-24T08:00:00-07:002022-06-17T13:05:35-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:10552What is Equity and How Do I Cash Out?<img src="https://assets.site-static.com/userfiles/1451/image/Home_Equity_JeffCook.jpg" width="4288" height="2848" alt="Home Equity" />
Equity is one of those terms that gets thrown around a lot, however, it can be confusing what it means in the world of real estate. We will walk you through all you need to know about equity and how you can cash out on your equity.
What Is Equity?
In simple terms equity refers to your assets minus your liabilities. So, In terms of home equity, this refers to you subtracting any mortgage as well as any other debt such as encumbrance tied to the home, from the value of your home. In this case, the home is the asset whiles the <a href="https://www.jeffcookrealestate.com/blog/budget-tips-to-relieve-the-stress-of-high-house-payments/" target="_blank">mortgage</a> with any other debt is the liability.
So, for example, if your house costs $152,000 and you paid for it with no mortgages or encumbrance or liens, then you own 100% equity of your home, which means you have $152,000 of home equity in your name. However, if your home costs $152,000 and you own a $52,000 mortgage with no other additional debt, then you have $100,000 in home equity.
What Are The Benefits Of Home Equity?
Owning home equity or paying off some of your mortgages comes with a lot of benefits, some of which include:
1. Appreciation
The value of your home tends to increase over time, so the higher your home equity, the more profit you can make off the home.
2. Leverage
The more your home equity, the higher the amount of money you can borrow against that equity. And as you will learn in the next section, having home equity gives exposes you to some loan opportunities.
3. It Alleviates Your Financial Burden
The more home equity you have, the more financial freedom you have. This is because having home equity saves you from certain financial obligations such as mortgage interest as well as property tax, which can save you some cash.
<br /><br />
How Do I Cash Out On My Home Equity?
If you won some equity in your home, you do not necessarily have to sell your home to gain access to your cash. There are various ways you can leverage the equity of your home, however, two of the most popular options include:
<br /><br />
Home Equity Line Of Credit (HELOC):
With a HELOC, you can borrow against the equity of your home. How this works is that you are given a line of credit of a <a href="https://www.banksc.com/calculator/credit-line" target="_blank">maximum limit</a> which you can borrow, however, you have the flexibility of borrowing how much you like and whenever you like given that it doesn't exceed the maximum limit.
When the loan is set up, you can borrow money for the next 10 years, and when the 10 years period expires, you will be required to pay off the loan together with the interest accrued within 15 years. However, the maturity period can vary from bank to bank.
Mostly, Home Equity Line Of Credit loans tends to have a loan-to-equity value of 80%, which means the lender will give you 80% of the value of your home equity. So, assuming you have home equity of $150,000, most banks will give you a line of credit of $120,000, and you can take out any amount from the $120,000 for the next 10 years.
Also, HELOCs have a floating interest rate, what this means is that it isn't fixed since it moves up and down with the market.
<br /><br />
Cashout Refinance/ Home Equity Loan:
This lets you take a large lump sum of money upfront and you will be required to pay this loan within a given period, however, with this, you will be required to pay a fixed monthly payment. Unlike the HELOC, the interest rate of a <a href="https://www.jeffcookrealestate.com/blog/what-you-need-to-know-before-applying-for-a-home-loan/" target="_blank">home equity loan</a> depends on how much money you borrowed, and it stays the same till the end of the loan. So, a cashout refinance is like a second mortgage. 2021-04-21T11:38:00-07:002021-08-30T12:07:59-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:10480Home Insurance: What is it and Why do I Need it?<img src="https://assets.site-static.com/userfiles/1451/image/Untitled_design_26.png" width="2000" height="1333" alt="Home Insurance" />
New homeowners often hear about home insurance but don't have enough information about what it actually means, what it covers, and if they should even get one. So, let's start from the beginning.
What is Home Insurance?
Home insurance, also known as <a href="https://weinsuregroup.com/insurance/property/home">homeowners insurance</a>, or HOI, is a type of property insurance that can cover these four kinds of incidents:
Exterior damage,
Interior damage,
Liability
Loss or damage of personal possessions.
As you can see, all aspects of your home and/or your possessions can be covered by a policy. You are also covered against legal liability when a person not living with you is hurt while on your premises. When for example, slipping on your driveway.
Home insurance can be sold as a single policy or multiple-line policy. A standard policy usually insures the home itself along with the belongings inside of it.
Why do I Need Home Insurance?
Although no law requires you to take out a home insurance policy when applying for a <a href="https://www.jeffcookrealestate.com/blog/mortgage-payment-structure-explained/" target="_blank">mortgage</a> to buy real estate, mortgage lenders do require you to get it before they agree to finance your purchase. Their investment is therefore protected if the home is damaged, or destroyed by a natural disaster.
Apart from that requirement, it is a good thing to have one for exactly the reason listed above. The basic policy usually covers perils such as fire, lightning, explosion, smoke, windstorm/hail, vehicle collision, riot, and vandalism. The perils covered (and those not covered) will be listed in your home insurance policy.
Homeowner's insurance coverage can pay to fix or rebuild your residence and possibly other buildings on your property, such as a detached garage or a storage shed. If your possessions like furniture, TV, or even expensive china get damaged, the HOI can help pay to replace your assets.
How do Home Insurance Claims Work?
First of all, you should call your insurer helpline as soon as possible. If you for example make a claim for interior fire damage in your home and the claims adjuster estimates the cost to $5,000 to bring the property back to habitable conditions, you will be informed about your deductible cost which can be, say $1,500 according to the policy agreement. You will then get a payment of the excess cost, in this case, $3,500.
The higher the deductible, the lower the monthly or annual premium on the insurance policy.
What Happens if I Don't Have Home Insurance?
Not having home insurance <a href="https://www.jeffcookrealestate.com/blog/mortgage-payment-structure-explained/">can cost home buyers their mortgage</a> before they even get one. Aside from getting a mortgage, once you are an actual homeowner not having a policy can prove to be costly. Not being covered against natural disasters, of which some are happening more often than ever, can literally cost you the roof over your head.
<a target="_blank" href="https://www.insurancejournal.com/news/national/2013/05/14/291804.htm" class="editor-rtfLink">Surveys</a> about homeowners insurance coverage often reveal that first-time buyers but also existing homeowners are confused by what is and what isn't covered by their policy. Always make sure that you are aware of what is listed in your policy papers.
Home insurance is not something where you should pinch pennies. Inquire with your insurer about a homeowners policy sooner than later. 2021-04-12T09:30:00-07:002021-11-28T18:12:00-07:00Hunter Cooktag:jeffcookrealestate.com,2012-09-20:10413Best Plants for Your Garden in South Carolina<img src="https://assets.site-static.com/userfiles/1451/image/SC_Plants.png" width="2880" height="1920" />
<a href="https://www.jeffcookrealestate.com/blog/5-backyard-gardening-tips-for-spring/">Gardening</a> in South Carolina can be achieved with proper care. Most home gardeners grow vegetables for their ideal flavors and nutritional value as hobbies and save some cash considering the increased food prices. The amount of home gardeners is constantly increasing in this state.
However, your garden's success depends on multiple factors, but failure could result from negligence and ignorance of the existing crop developments. So, what are the best <a href="http://www.scwf.org/native-plant-list" target="_blank">flowers and plants</a> for your garden in South Carolina? Here they are;
Marigold
These conspicuous and magnificent flowers are hard to miss considering their attractive gold color. They usually thrive during the summer, which is why they are perfect for your garden. They require minimal groundskeeping work, and they do well in the outdoors, where they can enjoy sunshine throughout the day. Additionally, they prefer fertile and well-drained soils and are impressively resistant to pests.
Phlox
Another plant that thrives during the summer is Phlox. They have large and beautiful flowers which grow 3 to 4 feet tall stems. They are easy to take care of since they need less care than other summer plants. They are ideal for Summer in South Carolina and are normally pest-free.
Hollyhocks
These beautiful flowers will for sure make your home garden look magnificent. They are among the few plants that were brought to America by colonists. Since these plants are tall, they will be perfect if planted at your garden's border. They require to be planted in fertile and moist soil to grow well. They prefer being in sunny weather and produce beautiful flowers.
If you prefer planting foliage plants, here are some that will thrive in South Carolina:
Spinach, Cabbage, Carrots, Kales, Peas, Arugula, Swiss chard, Lettuce, Green onions
Season planting
The time you can plant your vegetables outdoor is typically determined by the plant's season and species. While some plants like spinach and tomatoes can be grown indoors, beans and corns are better off planted outside. Vegetables can be classified into two categories depending on their temperature needs; warm to cool-season plants.
Cool-season crops
These crops were initially from high-temperature regions, and they have a growth timeframe which is during the cooler times of the year. Cool-season plants do not thrive during summer. While these plants grow perfectly after early fall, you should plant them earlier for them to mature before the weather becomes cold.
Warm-season plants
Warm-season crops were initially planted in tropical and subtropical areas, and they need warm weather for them to grow correctly. They are killed by extremely cold weather, and they are not supposed to be planted outside in spring without adequate protection or until the cold weather is over.
Typically, they are planted during the <a href="https://www.jeffcookrealestate.com/blog/save-money-on-your-summer-energy-bill-with-these-hvac-tips-and-tricks/">summer</a>, which should be done early enough to mature before fall.
Conclusion
Growing foliage plants and flowers is a fulfilling way to always have fresh produce and make your garden look beautiful at the same time. Your triumph as a home gardener in South Carolina begins with selecting the best crops depending on the season.
2021-04-05T11:16:00-07:002021-05-10T11:58:04-07:00Lee Willeytag:jeffcookrealestate.com,2012-09-20:6071Should I Fix or Sell: Benefits to Selling a House As-IsGuest Blogger: Talia Spero
When you have decided to move on – whether you are upsizing or downsizing, accepting a spectacular job in a different city, or are craving a fresh start – think about what you really need to do to get your home market-ready. Although you may be tempted to go into renovation mode, you might be better off selling your house as-is. This decision is even easier to make when you follow our tips on <a href="https://www.jeffcookrealestate.com/blog/scrambling-to-sell/">simplifying your home selling process</a>.
Anything that affects the home’s operation such as a leaky roof, a broken furnace, plumbing, and electrical fixes, needs to be repaired. These are all things sellers are legally obligated to disclose.
Here are some things to consider before making a decision.
Renovation ROI may not be there
Most home renovations don’t pay off instantly. Complete kitchen and bathroom renovations add the most value to your home but also can be very expensive and cause the most disruption. If these renovations haven’t been done already, don’t start now. Focus on making sure your existing selling features of the home are in great shape.
Clean is more important than new
There’s nothing more cringe-worthy than the sight of someone else’s dirt or evidence of hard usage. Smudged walls, torn carpet, ratty towels, and appliances with handprints all over are small things that unpleasantly remind potential buyers that other people use this home. This is why <a href="https://www.hgtv.com/lifestyle/real-estate/the-ultimate-staging-guide-checklist">cleaning and staging your home</a> can be so beneficial. You want buyers to be able to picture themselves living in your home.
Keep up with the Joneses, but don’t be the Joneses
While it may be your dream to own a home with a pool or hot tub, it may not be someone else’s. The same goes for other “over the top” features/rooms. Those renovations may have no appeal to a family with an opposite lifestyle from yours. Don’t be the house that is too expensive for the neighborhood. This may cause your house to be overpriced compared to the other houses in the neighborhood. You could end up taking a huge loss as a result.
Curb appeal starts on the outside, not the inside
All the energy you spend on your interior renovations will be pointless if you forget about the exterior of your home. Now is the time to get rid of all the bikes your kids have outgrown, re-seed those patches of lawn where the grass is dead, and create a welcoming image. Check out our <a href="https://www.jeffcookrealestate.com/blog/4-things-to-do-to-freshen-up-your-curb-appeal/">4 tips on how to freshen up your curb appeal</a>!
Living in a renovation zone is stressful
If you’re fortunate enough to own a large home with a spare bedroom and multiple bathrooms, renovating may not be quite as challenging as it is for those in smaller spaces. Living in a home with a major kitchen or bathroom renovations can be hectic, loud, and messy, especially when you won’t be the one benefiting in the end. Before you put in thousands of dollars on a brand new kitchen transformation, consider painting or replacing cabinets.
2019-10-24T06:20:00-07:002021-01-22T12:14:50-07:00Cory Towlertag:jeffcookrealestate.com,2012-09-20:60677 Things You Can Do When Your House is Not SellingGuest Blogger: Irina Sidorenko
It is very frustrating when you have done everything by the book in order to get a good price for selling your home, but unfortunately, your property is still just not getting any offers at all. You have already spent a lot of time, effort, and even financial resources to get a real estate to sell your house, but buyers just aren’t willing to cut a deal. There may be <a href="https://www.homelight.com/blog/why-isnt-my-home-selling/">several reasons for the lack of offers</a> such as selling in the wrong season with fewer buyers because of the cold, being stuck in a market slump, or just having plain bad luck. Aside from literally waiting for the house to sell, see how you can <a href="https://www.jeffcookrealestate.com/blog/scrambling-to-sell/">simplify the selling process</a> and read these helpful tips you can follow when your home is not selling.
Rent Out Your Property
If you are already struggling to pay your mortgage because you’re having a financial crisis or your could have moved to a new location because of a job and paying for two homes is not feasible, then offering your house up for rent may be a viable temporary solution if it is not selling. You just may be able to find renters who can pay rent that can cover your mortgage. If paying the entire mortgage cost is impossible because it is too high, at least finding someone to rent to cover a certain portion of the mortgage will make things more bearable for you.
Consider a Lease to Own Option
Closely related to the aforementioned category, consider putting up the property in a Rent to Own Scheme. This is a favorable option that can attract quite a few buyers. Often, people aren’t sure about the area where they want to settle down. This gives them a good chance to get the feel of the place. They can rent your home with the option to buy it later for a specified price. The nice part about this option is that you can ask for a slightly higher price than the market standard rent because this is favor or special privilege you are awarding your tenant/ future home buyer. In addition, rent to home tenants is most likely to take better care of the house in terms of maintenance and repairs when compared to the average renter.
Find a Better Real Estate Agent
The problem with getting your house to sell sometimes does not even rest on your home quality. Instead, it has everything to do with the real estate agent you have hired to sell the property on your behalf. The real estate industry is a business and there really are just some agents who are better than the others out there. Any professional real estate agent who has not managed to sell your home for a long period of time has to right to get angry or offended should he or she be replaced. In fact, if your incompetent agent had any modicum of self-respect and decency, the said agent won’t have any complaints about your desire for a replacement. In the first place, this agent has been unable to perform the job well.
Opting to change your agent when your home is not selling is a simple yet very effective way to gain ideas to different tactics and fresher perspectives. Some agents really don’t do much other than post your listings in high traffic areas while hoping for the best. You will definitely need a more proactive agent. Searching a well-known top producing agent with a solid reputation for bagging great deals is a critical component to selling your property. We have plenty of expert agents at Jeff Cook Real Estate that are ready to help you sell your home. <a href="https://www.jeffcookrealestate.com/blog/meet-the-sell-squad/">Meet the team</a>!
Look at a Guaranteed Purchase Program
If you are moving because of work, do inquire about a guaranteed purchase program your company provides, which you may be unaware of. Big companies that want you to make a lateral transfer by uprooting your life often have business arrangements with relocation professionals. These relocation companies do all the worrying, so employees can move with ease and not have to worry about paying for two residences. The only way to find out if you are eligible is to ask. You may be worrying for nothing, so inquire with HR if they offer this incentive, especially since you shall be moving for the company. Often enough, some big corporations do go as far as to doing home buyouts to entice their most competent employee to move. You can be sitting on a gold mine and not even know about.
Consider a Second Mortgage
Sometimes, getting a second mortgage is a great way to generate quick cash if you really need it. Something like a home equity loan or refinancing your existing mortgage can help tide you over the hard times. You can renegotiate better loan terms or ask for a lower interest rate. You'd be surprised that some lenders are actually willing to work with you. You can even inquire about extending the loan term payments, especially if you have paid a lot, so that it can lower your monthly payment.
If your home is not selling as fast as it should be, going this route can help you immensely. It can help you tide things over, so you can wait longer to sell your house when the real estate market improves. Sometimes, waiting a couple of months or even a year will be beneficial for you. With real estate, timing is everything. Selling during the holidays and winter is also a bad idea. Analyze your situation and make the necessary adjustments.
Sell for Less than the Market Value
When everything seems to not be working, offering the home for sale a deeply reduced price is a last resort. There are investors and buyers out there who are always in search of Fire Sales, the technical term for desperate and quick selling, in the real estate industry. The moment they see a good deal, these people will be ready to pounce to snatch it up before it is gone.
On top of that, you can opt to do a short sale. This means you owe more than what your home is worth because of a market downturn. You need to get the permission of the lender to allow you to sell the property at the lower price the house is now worth.
Reducing the price is always attractive to the equity purchasers and cash investors, who are always on the lookout for a steal. Anything will sell for if the price is right. You may be able to earn less than what you want, or even suffer a loss, but at least you will be able to finally sell the property.
Once again, choosing to sell your home for less than its market value is the last option to take. It must only be done if you have exhausted all the other means. Often, changing your real estate agent, waiting for a better time to sell, or temporarily renting are enough to tide you over to help you sell your house for a better price. The most important thing here is to do your research and weigh your pros and cons before making your final decision. 2019-10-07T07:57:00-07:002021-01-22T11:13:46-07:00Cory Towlertag:jeffcookrealestate.com,2012-09-20:5947Increase the Value of Your Property with These Design IdeasAre you planning to <a href="https://www.jeffcookrealestate.com/blog/scrambling-to-sell/">sell your home</a>? If that’s the case, you probably want to get your money’s worth or even more. This is a perfectly logical idea that’s more than possible – if you take the time to do a little design makeover. Certain features and design elements may seem costly upfront, but they can pay off considerably once you put your home on the market. In case you’re interested in boosting your home’s resale value, consider the following projects.
Update Your Kitchen
Kitchens are one of the most important rooms in one’s home, especially when it comes to selling it. After all, no one wants to deal with small or outdated kitchens when they move in. In that respect, repainting or replacing the cabinets and other elements as well as creating some functionality in the layout is the best way to go. It’s essential that you don’t go overboard, though. Keep in mind that your kitchen should match the overall look and feel of the rest of the home. An open floor plan or a kitchen island are proper investments but turning this area into a huge restaurant kitchen is not.
Go with Energy-Efficient Appliances
If you want a big and proper change for your kitchen, focus your attention and investment to energy-efficient appliances. Of course, there are appliances outside the kitchen and these should be considered, too, but most of the appliances are located in the kitchen and can waste a lot of energy if not star-rated. In that respect, you should replace your old appliances with new ones that actually contribute to the sustainability of the home.
Remodel Your Bathroom
Every bit as important as your kitchen, the bathroom should be next on your redesign list. In general, <a data-cke-saved-href="https://betterthathome.com/spa-like-bathroom-designs/" href="https://betterthathome.com/spa-like-bathroom-designs/" rel="nofollow">spa-like design</a> is very popular at the moment, with no tub showers and free-standing tubs. However, if you don’t have the room or the means for such a redesign project, you can make a difference with other projects. Replace broken tiles with new ones. Repaint your bathroom as well. Light blue and green shades, white, grey as well as some earthy tones are very effective for a clean bathroom look. Replace the toilet and the shower battery. Also, add storage room. If there’s no space for cabinets, consider installing floating shelves.
Reinvent a Room
In order to differentiate your property from the rest on the market, you need something interesting. Since it’s important to provide all the essentials in a home and remain relatively neutral, the best way to spruce up your place is to reinvent a room. After all, adding a new room is not the best investment to turn to. Instead, unused space such as basement, attic or any extra room in your home can be transformed into something new and more attractive to potential buyers. If your property is on the smaller side, this can be an extra bedroom. But it can also be a library, an entertainment room, kids’ playground, etc.
Paint and Decorations
It’s true that you should stick to the neutral look when selling your property. In that respect, it would be best to opt for neutral paint when giving a fresh coat to your interior. However, it always fares better when there’s something more unique to the whole environment without the actual clutter or vibrant shades. In that respect, don’t hesitate to check your options when it comes to decorative moldings, skirtings, mantelpieces, shelf fronts, etc.
Add a Deck
Interior is very important for increasing your home’s value but don’t forget the exterior either. Specifically, the yard area where the future owners will be able to rest and enjoy themselves. A proper deck area can boost the resale value of the property considerably and for a good reason. After all, what’s the point of having a yard, your own natural oasis, if you can’t enjoy it properly? If you’re handy and have some skills in this department, you can earn plenty by adding a deck on your own. Still, even if you hire a professional to build a deck for you, you can expect a great return of investment.
Replace Doors and Windows
This isn’t always necessary, but don’t disregard this particular project just yet. Even though your doors and windows may be perfectly fine, consider whether new, fancier alternatives could drastically change the overall look of your home. The truth is this often is the case. Better quality wood and more intricate design of the doors feel luxurious. Furthermore, <a data-cke-saved-href="https://maghulldoubleglazing.com/10-benefits-of-double-glazing/" href="https://maghulldoubleglazing.com/10-benefits-of-double-glazing/" rel="nofollow">double-glazed windows</a> are a must if you don’t already have these installed. These improve the insulation properties of your home thus upping its price.
Keep in mind that design practices meant for boosting your home’s resale value should never be personal – or at least not too personal. You never know what the potential buyer might like, which is precisely why you should stick to the timeless trends like <a href="https://www.jeffcookrealestate.com/blog/mid-century-modern-dcor-ideas-for-your-home/">Mid-Century Modern Design</a>. 2019-09-16T11:28:00-07:002021-01-22T10:56:57-07:00Cory Towlertag:jeffcookrealestate.com,2012-09-20:5289Common Things to Look Out for Before Buying Your Dream Home<img src="https://assets.site-static.com/userfiles/1451/image/3-questions-to-ask-before-buying-your-dream-home.jpg" alt="Common Things to Look Out for Before Buying Your Dream Home" title="Common Things to Look Out for Before Buying Your Dream Home" height="410" width="750" />
It is easy to become overwhelmed when you enter the home buying market, especially when you're unsure about <a href="https://www.jeffcookrealestate.com/blog/why-are-people-moving-to-south-carolina/">where to move</a>! Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually, the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and <a href="https://www.realtytrac.com/statsandtrends/sc/">the housing market</a> are strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.
3. What About Current Mortgage Rates?
The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.
Bottom Line
You and your family are the only ones who can <a href="https://www.jeffcookrealestate.com/blog/when-is-the-best-time-of-year-to-buysell/">determine the right time to purchase your dream home</a>. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home since home prices and mortgage rates are increasing. 2019-07-18T11:31:00-07:002021-01-21T13:45:03-07:00Cory Towlertag:jeffcookrealestate.com,2012-09-20:6012Deciding If and When to List Your HomePutting a home on the market is one of the most significant life decisions many of us will ever make. It has all kinds of implications—financial, social, geographic, and more—and it can often require months (sometimes years) of planning, prep, and consideration. It’s no wonder, so many homeowners hesitate to list their property.
There is a multitude of reasons why you might want to sell—upsizing, downsizing, relocating, liquidating a vacation or investment property asset, avoiding future financial or foreclosure issues. The more pressing the reason, the more motivated you’ll be. But the majority of us teeter between the desire to sell, and the uncertainty of what’s in store when we do.
What if your home sells quickly, and you don’t have a plan for your next purchase or rental? Will you be able to afford the repairs required to get your current house in selling shape? What about the closing costs—are you prepared to handle any unforeseen, additional costs that may come your way?
There is plenty of good news that can assuage some of those concerns. Here are several, straight from the experts at Jeff Cook:
We’re currently cruising through the<a href="https://www.hgtv.com/lifestyle/real-estate/adapt-your-home-to-its-selling-season"> best home-selling season</a>. Hello, spring!
Based on data analysis, Zillow concluded that early- to mid-May is the absolute<a href="https://www.jeffcookrealestate.com/blog/scrambling-to-sell/"> best period to sell</a>.
Why?... Because those who sell during the first half of May can statistically expect a higher price ($2,400 on average) and a quicker sale than they would have gotten listing at another time of year.
With so many people moving to the Lowcountry and buying property, housing inventory is low. There aren’t enough homes on the market. Yep, that’s right—Charleston-area community members NEED you to sell (and they’re likely to sweeten the deal when you do as a result).
So if your anxiety reaches all-time high thinking about whether or not to sell (and when), consider these helpful facts. They could be the motivators you need to fix your place up, then list, show, and sell it quickly for the top asking price... And our agents make up the <a href="https://www.jeffcookrealestate.com/blog/meet-the-sell-squad/">perfect team of experts</a> to guide you along that journey. Call us today to see how we can help.2018-06-04T07:34:00-07:002021-01-25T12:32:33-07:00Cory Towler