The Daniels Team's Blog
If you are thinking of buying a home in the near future, there’s one three-digit number that could be oh so important to you. That number is your credit score. Read on to find out how a credit score can affect you and the steps you can take to be sure that your credit is in good standing when you head to apply for a mortgage.
What Is A Credit Score?
Your credit score is checked by lenders of all kinds. Every time you apply for a loan or a credit card, there’s a good chance that your credit score is being pulled to see if you qualify for the loan. Your credit score is calculated based on the information on your credit report. This information includes:
Length of credit history
New credit accounts opened
The areas with the most impact on your score is your payment history and your debt-to-credit ratio. This means that on-time payments are super important. You also don’t want to get anywhere close to maxing out your credit cards or loan amounts to keep your score up.
What’s A Good Score?
If you’re aiming for the perfect credit score, it’s 850. Most consumers won’t reach that state of perfection. That’s, OK because you don’t have to be perfect to buy a house. If your score is 740 and above, know that you’re in great shape to get a mortgage. Even if your score is below 740 but around 700 or above, you’ll be able to get a good interest rate on your mortgage. Most lenders typically look for a score of 620 and above. Keep in mind that the higher your credit score the better your interest rate will be.
What If You Lack Credit History?
Most people should get a credit card around age 20 in order to begin building credit. You can still qualify for a mortgage without a credit history, but it will be considerably harder. Lenders may look at things like your rent payments or car payments. Lenders want to know that you’re a responsible person to lend to.
What If Your Score Needs Help?
It doesn’t mean you’re a hopeless case if you lack good credit. Everything from errors on your credit report to missed payments can be fixed. The most important thing that you can do if you’re buying a home in the near future is to be mindful of your credit. Keep an eye on your credit report and continue to make timely payments. With a bit of focus, you’ll be well on your way to securing a mortgage for the home of your dreams.
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Selling a house requires special tactics, it can be stressful for first timers, and the pressure even becomes greater when there is a need to close the sale before moving into a new home. You will find the following simple suggestions highly effective in getting your house sold.
- Enhance the curb appeal. Curb appeal means how attractive your house looks to people on the outside. Little things like upgrading the exterior paint job, replacing the number plate, doorbell, and other external fittings or even mowing the lawn will all add up to make your house appeal to the buyer looking on from the outside.
- Take amazing pictures. You cannot overemphasize the power that a beautiful image holds in making your house more appealing to new buyers. The saying is that a picture can be worth more than a thousand words and it is very accurate when it comes to house listing as well. You want to make sure that you avoid unattractive pictures. Using a professional photographer to make sure that your photos are high quality with adequate lighting is very important. Unless your cell phone camera is super good, you probably shouldn’t use it.
- Tidy up the interiors. A tidy inside space might be what is needed to help your buyers make the final decision. Take away your personal touches and lay aside your preferences. The objective is to make it look like a home they can live in, and having too much of your personal items might be a distraction as it makes it harder for them to picture themselves living in a home that still has your pictures on the wall.
- Write a captivating listing copy. A compelling description makes potential buyers of your house have an idea about living in your house. You should talk about any advantages your neighborhood has, such as proximity to a major relaxation center, schools or shopping malls. Let the buyer feel that your house is unique with your words. If you need assistance with a good description, talk to a professional writer for help.
These are essential factors that will help you attract the right buyer to your house, convince them of your best offerings and close that sale speedily.
When selling a home, most sellers are eager to sell quickly. Especially when living out of their home while simultaneously showing it. One of the biggest determinant factors for house shoppers right now is the staging. Whether they recognize it or not the atmosphere you create within your house helps buyers imagine themselves living their day to day within
But keeping your home
If you want to put your home’s best “foot” forward, however, it, literally, pays to put in the time and effort to live differently for a few weeks.
Start with a deep clean. Some people like to hire a cleaning company to come in and do the job for them. But there’s no reason you can’t get the same results on your own. Plan to dedicate a week to
Give your home a facelift. Repaint your walls, rent a carpet cleaner (or hire a service) and power wash the exterior. When repainting
Declutter, declutter, declutter! This is a step many sellers dread but is so worth the effort. Donate and get rid of everything you no longer use or need. When you’re finished go the extra step and rent a storage unit to stash away extra furniture,
You want to create as much space in your home as possible. Taking a minimalist approach that strips your unique personality from the decor allows potential buyers to see how the house can become theirs. You don’t want to distract buyers and have them wonder about what kind of people you and your family are. Additionally, keep closets,
Add greenery. Potted plants and fresh cut blooms will be like the icing on the cake. This is always what makes the biggest difference in making a room feel pulled together and comfortable. If you’ve ever flipped through the pages of a home decor magazine you may have noticed this is a trick they use in all of the rooms they showcase.
Living out of your home while showing it isn’t a walk in the park, but it can be easy i
Putting your home on the market is a life-changing decision and, for some people, it may involve conflicting feelings.
Ideally, all members of your family should be on board with the decision to sell. If you, your spouse, or your kids are ambivalent or even against the idea of moving, it could send a negative message to prospective buyers, estate agents, and others. Helping your family stay positive and motivated can ensure that everyone is pulling in the same direction.
A common stumbling block for many sellers is the inclination to attach too much sentimental value to their home. While you may associate your home with fond family memories, years of hard work, and thousands of dollars in home improvements, your actual selling price should be a reflection of market conditions and the price comparable houses in your neighborhood recently sold for.
Based on a comparative analysis, your real estate agent can help you come up with a realistic asking price that will reflect both its market value and major improvements you've made in recent years. Although remodeling your kitchen or bathrooms will not provide you with a dollar-for-dollar return on investment (ROI) when it comes time to sell, prospective buyers will be much more attracted to a home that's been updated and well maintained.
When selling your home, perhaps the most important principle to keep in mind is that "You don't get a second chance to make a great first impression." By minimizing the negatives and making the most of your home's attributes, you'll be increasing the probability of selling your house within the shortest period of time
Keeping your home meticulously clean for every showing can often be a challenge, but it's a goal worth striving for. Other ways to make a favorable impression on potential buyers is to focus on maximizing your home's curb appeal and minimizing clutter -- both inside and out. While it may seem like a tall order to declutter your home, keep your lawn looking manicured, and apply fresh coats of paint where needed, you'd be surprised at how much you can accomplish by setting your mind to it. One simple but effective strategy for getting things done is to create checklists of priorities, projects, and important tasks that need to be completed. When you commit goals to writing and review your priority list every day, you'll tend to be much more organized, action oriented, and focused.
Although a lot of people take a sense of humble pride in saying that their home is "a work in progress," once it's on the market, you need to have as many of those rough edges smoothed out, as possible! Putting your best foot forward for every showing could make the difference between a fast sale and a house which lingers on the market for months!