Buyers with good credit can purchase homes with a relatively small down payment, lower monthly mortgage, and low-interest rates compared to conventional mortgages through loans insured by the Federal Housing Administration (FHA). In fact, the FHA only requires as little as a 3.5 percent down payment, which makes it so popular and appealing to first-time home buyers. The FHA insures mortgage loans for about 30 percent of today's home buyers so there is a good chance you will get an offer from an FHA buyer for your home. If your property doesn’t meet FHA requirements, you could cut out almost one-third of your potential buyers. Here are five ways you can make sure your home is FHA-friendly to increase your chances of selling: The FHA lending limit is the maximum loan amount the FHA will insure. These loan limits are updated annually and are influenced by the conventional loan limits set by Fannie Mae and Freddie Mac. These numbers can vary based on home prices in different markets and the type of home being purchased. The FHA's national low-cost area mortgage limits for 2019 are set at 65 percent of the national conforming limit of $484,350 (for a one-unit property). In high-cost areas, the housing agency’s loan limit “ceiling” was increased to $726,525, while its “floor limit” is set to $314,827. Before you take further steps to make your home appealing to FHA buyers, check to see if your home’s listed price falls within the FHA lending limits for your area. If the market value of your home falls within the pricing guideline for your area, then you’re already one step ahead. If your home’s price is just above the loan limit, see if you can lower it. But if it’s far above the limit, your home may not be entirely available for FHA buyers. Unless a buyer can come up with the difference between the loan maximum and the selling price, they will not consider looking at your property. While most home buyers will request a home inspection even if they're not using an FHA loan, the FHA will not approve a mortgage for your home until you repair any serious problems. You can help your home pass the inspection by fixing any defects, such as roof leaks, structural damage, pest and mold issues, heating system issues, pre-1978 interior or exterior paint that could contain lead, and other safety issues. By doing this, you’ll ensure that everything works properly to increase your chances of approval.  Just remember that a home inspection differs from a home appraisal. Home inspections evaluate the condition of your home to ensure that it meets safety, health, and building laws. So remember that just because your home passes the appraisal, it does not automatically mean that it will pass the home inspection.  A buyer can hire his or her own appraiser to evaluate your home. However, the FHA only relies on reports by its approved appraisers to help determine the value and condition of your property. This FHA-endorsed appraisal will be used to make the final loan decision. You can make the appraiser's job easier by providing them easy access to all areas of your home, including the attics, basement, crawl spaces, and other harder-to-reach places since they usually need to be photographed. Closing costs can be a big hurdle for many FHA buyers, which is why you can make your house FHA-friendly by helping with those costs. The FHA enables sellers to help with up to 6 percent of the sale price of the home to help with closing costs. While you are not obliged to help, it can be helpful so you can close a deal faster with an FHA buyer. By offering to pay for some of the buyer's closing costs, you can make your home stand apart from the crowd, especially if you are selling in a buyer’s market. Just keep in mind that your aim is to achieve your net goal by closing and be able to hand over your home to a reliable buyer. Working with an experienced real estate agent when selling your home can work well to your advantage. But when you're taking these steps to prepare for FHA buyers, the easiest way to make sure you’re ready is to work with a real estate agent who knows the FHA process. Your realtor can guide you through the rules and limitations of the government program and can determine if your home is eligible. Lastly, the right agent can help you maximize the desirability of your property so you can attract more FHA buyers.

More millennials are pursuing homeownership now than ever before, according to the 2019 Home Buyers and Sellers Generational Trends Report by the National Association of REALTORS®. They continue to be the largest generational group of buyers at 26 percent. Also, they now represent 42 percent of all new home loans and are showing interest in more affordable markets. So if you want to sell your home competitively, you need to learn how to market to this generation of younger buyers who have their own sets of needs and preferences. Keep reading to see some of the best features you can add to your home to make it more “millennial-friendly”.   1. A home office space The remote work trend is becoming more and more common in the U.S. In fact as of 2019, 66 percent of companies allow remote work and 16 percent are fully remote. Forbes even mentioned that remote work is no longer a privilege but has already become the standard operating mode for at least half of the country's population. And although this trend is on the rise for all groups, it is especially common among millennials.  As a result, young buyers are looking for homes with dedicated workspaces that will help them focus on their tasks and will be their go-to place for meetings or last-minute conference calls. Luckily, if you want to make your home attractive to millennial buyers, it’s an easy fix and the space doesn’t even have to be big. Is there a spare bedroom that you could turn into a full-fledged home office, complete with outlets and spaces for shelves? Or maybe there’s a nook in the corner of your kitchen that has good lighting and could accommodate a small desk? Whether it’s through a remodel or during the staging process, it’s important to show the ability to have an in-home office so buyers can picture the space working with their lifestyle.   2. Smart home technology It's obvious that millennials are tech-savvy, but they especially crave smart home technology options such as smart thermostats, smart doorbells, keyless locks, and others. Since this age group is practically called “digital natives,” these smart security systems appeal to them the most because they enjoy the conveniences their smartphones offer. Young couples who both work or those who telecommute while caring for their young kids will appreciate the extra convenience and security.  If you want your home to appeal to more millennial buyers, be prepared to talk not only about your smart home features but also the available wireless service provider, carrier signal strength, and the low-cost options for any new technology, which could be a major bonus.   3. USB Outlets And speaking of smartphones and connectivity, one way to impress younger buyers is by switching out some of the traditional outlets into USB outlets, especially in bedrooms, living rooms, and kitchen. Millennials always have their smartphones with them, and showing that your home offers accessible charging ports that will make their lives easier will surely catch their attention (no matter how glued they are to their screens). It's because they no longer need to use a plug or an adapter to charge their smartphones or tablets. Instead, their devices can exclusively have their specialty outlets where only USB cords are needed.   4. Neutral colors Thanks to the influence of Instagram, Pinterest, and HGTV, millennials favor neutral colors and particularly want to see them in their potential home. Also, the universal love for gray variations, soft neutrals, and white color schemes remain strong so have your home refreshed with these hues. And don't just stop once you’re done painting the walls. Re-paint your red or maple kitchen cabinets and update hardware such as handles and drawer pulls so that everything has a consistent, neutral palette that will surely attract not only millennials but all kinds of buyers.   5. Outdoor living spaces Aside from interior home upgrades, millennials also consider outdoor living space as an important factor in choosing a home. They want their outdoor features defined and designed where they can hang out with family and friends and there's room for their pets to roam. As a seller, you want to make sure that the backyard feels like an extension of the living space. But remember that those areas should be low-maintenance too, or it could turn into a huge turn-off. No matter the size of your yard, you can make your outdoor features remarkable by investing in some upgrades. Add a fire source like an outdoor fireplace or fire pit, making sure to check your local building codes to verify fire safety rules. Pull together a variety of seating options with accent pillows, add a cafe table, invest in a few sets of outdoor string lights to recreate that chic urban feel, place an outdoor rug, and add some potted plants or shrubs. Through these upgrades, you can achieve that Instagram-worthy outdoor space that will surely hook younger buyers.

When it comes to selling your home, it is your duty to disclose things that could be harmful to the future homeowners, such as the presence of asbestos or lead paint in the property, pest infestations, and even mold. However, there are certain facts that sellers should never slip to buyers, especially when it involves personal circumstances. And while a seller should never be around the house during showings, it isn't uncommon for the buyer and the buyer’s agent to show up while you are still in the house. And during those short moments when you’re leaving for the door, questions from the buyer such as “Why are you selling?” and “How long has this been on the market?” could be thrown at you. If you’re not mindful of answering these seemingly innocent questions, they could reveal important details that could compromise your negotiating power and cost you the home sale. Here are some of the things sellers should never, ever talk about with a prospective buyer:   While this information is often listed on the home's information sheet, you may want to avoid bringing up this topic to potential buyers. Discussing to the buyer how long the home has been on the market can send the wrong message. They may think you’re desperate to sell, so there’s a chance they will give a lowball offer, include too many contingencies, or complicate negotiations. Likewise, buyers may think there’s something wrong with the house that’s why it’s still sitting on the market.   “So, why are you selling your house?” One of the biggest reasons people sell their homes is out of necessity. You may have lost your job or got an offer to another city; you're getting a divorce, having financial problems, or had a death in the family. No matter your situation and reason for selling your beloved home, you may want to keep that to yourself. Because while all these situations could evoke sympathy to your potential buyers, it won’t stop them from thinking that you’re desperate to sell.  Remember that the buyer’s goal is to get the best deal possible, and when you hint that you’re going through some difficult times, some buyers may attempt to take advantage of the situation. The last thing you want to show them is desperation. You need to always appear confident so you can fetch top dollar out of your biggest investment.   Each buyer has their own preferences. So avoid saying anything about the neighborhood, or else it could backfire. Informing them that you'd want to move to a peaceful neighborhood could imply there’s a problem with your neighbors or your community in general. Likewise, saying that the area is quiet won’t be helpful either, especially when the buyer wants a thriving nightlife. You don’t know what a home buyer wants in his or her new community so it’s better to avoid this topic.   Don't disclose that you already found your next ideal home but that your offer is contingent on selling this house. The same rule applies if you’ve already purchased your next home and are already dying to move. While these situations are very common, it may signal to potential buyers that there’s a sense of urgency and you need to sell quickly. And this may prompt them to yield a low ball offer. So instead of sharing that you already found the home of your dreams, tell them that you’re still looking.   Here comes a buyer unconsciously asking, “Would you mind telling me if you've had any offers yet?” Your best answers should be, “We’ve had a lot of interest” or “We’re expecting an offer soon.” There’s no need to broadcast how many offers you have or haven’t received, or admit the sad truth that you haven’t entertained a serious buyer since you put your home on the market. You didn’t lie, and these matters should only be between you and your listing agent.   Don't ever mention anything that you think might be wrong with your home. There’s the temptation, of course, of saying: “We’d always wanted to repair this…” or “We planned to renovate this part of the house but…” Your dreams and “what ifs” for your home and any repairs you planned to address shouldn’t surface now. You may be planting the idea that there’s something wrong with your house. Likewise, if you indicate that the bathroom or bedroom needs renovation, the buyer will think he or she needs to cough up more money, and no matter how good your intentions are, any potential buyer wouldn’t want to entertain any additional costs. They may not even agree with your idea of redoing the bathroom and may love the home as it is.   Who wouldn't want to sell their house for the best price possible? When it’s time to sell, being realistic to possible price reduction considerations is also paramount. Announcing to your potential buyers that you’re not open to negotiating is a colossal mistake. When you hint that you are inflexible on the home’s price, it may discourage buyers to try to work out on the acceptable price and terms. The worst possible scenario: people may start to avoid the house when words spread that you’re this kind of seller, and your home could sit on the market for a while. Be realistic and open to reasonable offers to increase your chances of putting more money on the table.   Bottom Line “Loose lips sink ships.“ “Anything you say can and will be used against you.” These are just some expressions that hold true when it comes to selling a home, and those things, when blurted out, could jeopardize the sale. When you find yourself interacting with a buyer and they ask you questions, just give them short, vague, or neutral responses. Better yet, let your listing agent do all the talking. Part of their job is to handle all communication and negotiations with prospective buyers. If you can't get away without answering a question, simply tell them that they will have to ask your agent. No more, no less.

Planning to sell your home this year? You're probably feeling both anxious and excited about it. After all, it is where you’ve spent wonderful years building your family and your dreams, all of which bear unforgettable memories. But if you’ve already come up with the painful decision to list your house in the market, you need to set aside a couple of weekends to prepare it. Your main goal now is to make a good impression on potential buyers to increase your chances of receiving a solid offer and sell your home fast. MUST-DO #1. Declutter, de-personalize, and clean the house. “Because first impressions mean a lot…” Cleaning and sprucing up your home shouldn't be underestimated if you want to sell your home quick and for top dollar. You’d want buyers to turn up and see the home, not just to drive past it. You can ensure they’ll do by accomplishing these tasks: Eliminate clutter If you're still having a hard time starting on the task, just think of it as a head start on the packing you'll eventually have to do when you move. Purge your belongings and storage spaces of unwanted and unnecessary items. If you don’t want certain things to be thrown away, consider donating them to charity or community groups so they can be of use to others. A garage sale is also a good idea if you need some cash.  Decluttering will make sure that when buyers visit your home, they will be able to focus on its features instead of seeing all the junk and knickknacks. Clean and organized closets, cabinets, and drawers are good signals for buyers who will be checking every storage space available. De-personalize the space Indeed, letting go can be very difficult. You've spent years living in your home, only to have your belongings packed away in a day. But once you decide to sell your home, you have to make that emotional break. You need to disassociate yourself with the home and think of it as a product that you need to sell, no matter how difficult it is. Remove family photos, photo albums, personal belongings, and any distractions. Your goal is to create a blank canvas on which buyers can visualize themselves and their family living in it and make them feel like they belong to the house. Let them imagine hanging their own photos on the walls and decorating it however they want. Just leave a few nice, framed photos around the home that will make it appear inviting. Likewise, if you want to take certain fixtures and built-in appliances with you, now’s the time to remove them. If that stunning chandelier is a family heirloom, simply take it down and replace it with an understated piece.  Deep clean This step might be the most awful and time-consuming, but it will provide striking results in the overall appearance of your house. If it's been years since you’ve done some spring-cleaning, expect the process to be tedious. Here are some things you need to do: Wash the windows inside and out. Pressure-wash the home’s exterior and the sidewalk.  Polish the counters, faucets, mirrors, and other surfaces.  Clean and scrub the bathroom, mop the floors, and clean the rugs and carpets.  Also, make sure to tackle all nooks and crannies, even the hard-to-reach surfaces behind closets and cupboards. Ensuring that your home is as clean as possible might not be fun, but it will make things a lot easier for you when showings start. MUST-DO #2. Take care of minor repairs. Once you've successfully cleaned up the home, it’s time to take care of the minor problems. Fixing up these small things can go a long way to ensuring your house looks at its best. If you can’t DIY, make a list of the necessary repairs and call a handyman to do the job. Otherwise, even a missing doorknob or a lightbulb can have set a negative mindset on buyers, prompting them to think “What else is missing here?” and cause them to look for other defective areas throughout the home. They might conclude your home hasn’t been well taken care of, which can turn into a huge deal-breaker.  These are all the basic updates you might be able to handle yourself: Replace burned-out lightbulbs. Fix broken windows and damaged window screens. Repair loose cabinets, locks, handles, and doors that don’t close properly. Fix any leaky faucets. Replace cracked floor or counter tiles. Patch any holes in the wall. Fix chips or cracks in paint. Consider painting your walls in neutral colors, especially if they’re currently in a screaming red or purple. Give your front door a fresh lick of paint. Fix and straighten up broken fences and the mailbox. Further, this is also the time to note any major repairs and start looking into your options. Major home improvement projects such as re-doing an entire roof, remodeling a kitchen or bathroom, and updating insulation definitely won’t come cheap, but they can significantly add value to your home. MUST-DO #3. Find a great real estate agent. “When you hire people who are smarter than you are, it proves you are smarter than they are.” - Henry Ford Resist the urge to sell your home by yourself or what they call “For Sale By Owner” and pocket the cash that would otherwise go to the seller's agent. No matter how tempting it is, enlist the help of a professional real estate agent to list your home. In the 2018 NAR Profile of Home Buyers and Sellers, FSBOs typically sell for less than the selling price of other homes, which means you could be sacrificing precious time and money. Do some research on who has some good track record and is highly knowledgeable about your specific market. Moreso, choose an agent who could be a friend in this stressful situation but also has a concrete plan on how he or she will sell your home. Set clear expectations with your agent about your goals so that you know exactly what to anticipate, especially when showing requests start.

One thing that makes a real estate transaction so confusing is the issue of what stays with the house and become the new owner's, and what goes with the seller once they move out of the property. Oftentimes, sellers believe that if it’s something that they have installed in the home and spent money on, they can take it with them. Their views of what are fixtures and what can be considered as their personal belongings may be shrouded by their attachment to the home. Unfortunately, that’s just not how it works. Taking out something you haven't disclosed upfront, including in writing, or even negotiated to keep with you, can cause the most heated debates during and even after the home sale. Also, it’ll be annoying for any buyer to find items like kitchen door handles to be missing from their rightful place. It’s important that you clearly spell out and negotiate in your real estate purchase contracts what is included and what is not included in the sale of the home. It’s something that needs to be agreed upon by both parties to ensure a smooth transaction. So, what stays in the house and what goes with you when you move?   Anything that is bolted, mounted or nailed down What is a fixture and what is not? According to real estate website Inman, a fixture is any personal property that is physically attached to the land or structure by bolts, nails, screws, cement, or any other attachment method. These are immovable elements of the home that are converted to real property. Likewise, if a house has been modified to fit an item perfectly, it is considered a fixture. Fixtures can be a major cause of misunderstanding between sellers and buyers during the home sale process especially if they are not included in writing. If a wall has a hole that accommodates an air-conditioning unit, then it is most likely a fixture. If the home has a ceiling fan installation, a seller should replace his personal lovely ceiling fan with an old one he doesn't want to take. Fixtures stay with the house even if the sellers want it. Likewise, the most common gray areas with fixtures are mirrors and flat-screen TVs and their mounting mechanisms. Mirrors are considered fixtures if they are bolted to the bathroom or bedroom wall. But if they are just hanging on a wall, sellers could take them since they are considered personal property. Flat-screen TVs, on the other hand, are considered personal property of the sellers, especially if they are expensive, high-definition type. Similarly, they can also take the television’s mounting mechanism, unless it is detailed in the sale that the TV will be part of the home sale or the buyer wants to include it in the real estate negotiations.   Appliances Sellers are not really required to leave large and heavy appliances with the house, including the refrigerator, washer, and dryer, or stove. If such appliances are not permanently affixed to the property, then they can simply be unplugged and removed. It's already up to you as a seller to decide whether you’d want to take it or include it in the listing price of the property. Most buyers will be willing to include the appliances in their offer price, anyway. But remember that there are certain types of financing or mortgage lenders whose conditions call for a stove or an oven to be installed before they approve a loan.   Anything that is built-in or cemented into the ground Backyard items like a basketball hoop, a swing set, or a trampoline can also cause a misunderstanding between the two parties during a home sale. Normally, anything that is built-in or cemented into the ground should be considered as part of the property. The ones that are freestanding or detached are of the seller's personal property, hence, they can take it with them.   Lighting fixtures The classic example of this is that impressive chandelier in the center of your dining room or any appealing light fixture the buyer has already seen as part of your home. As a seller, you need to know that buyers want to get what they saw during the showing. They expect everything they saw to be included when they write an offer for your home. If you packed it up with you and left electrical wires hanging to where it should have been, you're in for a sticky situation. Experts have warned that changing something in your home after the date the buyer gave an offer is actually illegal. If you intend to take any light fixture with you, remove it even before you list your house for sale. Then put in something acceptable as a replacement but can still help emphasize your home's best features.   Window treatments and coverings Whether the window treatments and coverings stay is another issue that can cause nasty confusion during and after a sale. Rods and blinds, even expensive custom blinds, are considered part of the property and should go to the new owner since they are usually attached. Curtains, on the other hand, are almost always considered as personal property since you can easily slide them off. If you want the existing drapes and coverings, exclude them from the sale and specify it in writing.   Hardware on the kitchen and bathroom While this should be a case of “common sense,” still, it's not uncommon to hear stories of buyers who have complained about missing doorknobs, toilet paper holders, kitchen cabinet pulls and handles bath fixtures, and well, the horror stories go on. The rule is that any hardware should stay and transfer to the new homeowner since they are attached to the property. The only situation where it might be acceptable that the seller remove all fixtures and finishes from the home is during a foreclosure. It might be their last chance to salvage part of the house and make money out of it. So for buyers who are looking into a foreclosed home, remember that since it is already owned by the bank, it is sold “as-is.” Yes, even without the doorknobs and cabinet handles.   Plants, trees and any landscaping One scenario: part of what made the buyer fall in love with your home is that lovely rose patch in your front yard. And then you intend to take it with you once you go? Oh, no. We know it's beautiful and that you spent hours of tireless work looking after it. However, if the property listing doesn’t specifically mention you want your plants or trees, you cannot remove them. Since any landscaping is a great part of your curb appeal, the right thing to do as a seller is to request to take it with you, particularly if someone gave it to you as a gift. Otherwise, you can’t take the plants and leave a patch of dirt that can displease any buyer.   Above-ground spa and/or swimming pool As discussed, anything that is built-in or cemented into the ground goes with the house. So you can take your above-ground spa or swimming pool with you once you leave. A free-standing spa can be considered personal property and is likely to be easily removed. However, if you don't want to take these features with you and the buyer doesn’t want it either, you may still need to remove it. The buyer can specify it that he/she wants to see it go by closing.   For Sellers,   After discussing what stays and goes, specify the things you want to take with you on your property listing. As the seller, be specific and avoid saying uncertain things like “probably” or “most likely.” Be sure to document it all in writing and in your marketing materials so there won't be any confusion with the buyer. It’s a crucial thing for buyers especially when they make an offer for the home. Take anything you want to keep with you before listing your home for sale. Then replace them with something else that might go as fine or acceptable. Don’t make a show-stopping chandelier a part of your home staging if you have no plans to leave it on the house and pass it to the new owner. We understand the mixed feelings you have as you sell your home, but avoid giving any sentimental value on simple tools like doorknobs, 60-watt light bulbs, or pegboard hooks. Never take them with you when you vacate the property. Often, these are things that aren’t really worth chasing after but can annoy the new homeowner. Hiring an experienced local real estate agent can help you sell your home for top dollars so you don’t have to worry about leaving petty hardware behind.     For Buyers,   Perhaps it would be safer not to assume that everything you see on the property comes with it and will be part of the home sale. If there's something you really like and want it to stay in the house once you become the new owner, don’t be afraid to speak up! Include all of the items in your purchase offer and be as detailed as possible. That way, both parties will avoid any confusion, disappointment, or worse — nasty exchange of emails and even a lawsuit for the seller — once the deal closes.

When you put your home on the market, the one aspect that usually comes to mind is profit. Without a doubt, every seller's main goal is to sell their home for the best possible price. However, in an effort to get the best deal possible, many sellers fall prey to myths about home pricing that don’t reflect the current real estate market. Setting an asking price for your home will never be a walk in the park. But coming up with an accurate number can give you the biggest advantage. It can mean the difference between quickly getting an offer and risking your home to sit on the market for months, losing the interest of many potential buyers. So if you want to get the most out of your home sale, disregard these most common myths about pricing a home and start your journey with some realistic expectations!   Many sellers think that getting a quick offer is an indication that they priced their house too low. They are contemplating whether they should have asked for more money or feeling that their realtor “gave their home away” because it was sold too quickly. But here's the reality: getting an offer (or offers!) in the first few days most likely means your home was priced accurately and competitively, which attracted multiple buyers. Your home has the right price on the right market that’s why you received multiple offers even in a short amount of time. After receiving an offer from the first showing, sellers may be hesitant to accept it, wondering if other potential buyers would be keen to cough up more money for their beloved home. This is another common assumption among many sellers: if they're willing to wait long enough, a better offer will come. The thoughts of potential bidding wars could prompt them to be in a “no rush mode” when it comes to selling their home. However, that’s not how real estate works most of the time. The longer your home stays on the market, the worse the offers could get. Or maybe you’d get none at all. This is because homes sell for the most money when they are on the market for less than 30 days. According to the NAR 2018 Profile of Home Buyers and Sellers, recently sold homes were on the market for a median of three weeks. When a home has taken so long to sell, buyers will start to wonder what is wrong with it. They may assume that it was priced too high, or that there are issues with the property itself. Be wary of using any home value estimate tools you find online. The numbers they give can be inaccurate since they have not assessed your home physically, and haven't taken into consideration any of its special features and the prices of the surrounding properties. Many home estimates go above or under the home’s real market value. Keep in mind to always trust your realtor over your home’s estimates. Every seller's goal is to get top dollar for their home. However, overpricing your home thinking that you could accept a lower offer, later on, will never be a good strategy. The worst is it could just leave you empty-handed, especially when buyers start to wonder what’s wrong with your property. Trying to price it too high, thinking that it will create a lot of negotiating room will get you nowhere. Instead, buyers and their agents will steer clear from your property and will choose a listing that has a reasonable price. Your realtor knows that negotiation is very important in real estate, so trust their experience in this matter. They will price your home appropriately from the beginning but will make sure there’s enough wiggle room so you can still get what you want out of the sale. You may have remodeled your kitchen, added a master bedroom, or replaced your garage door. But don't think that the money you spent making these renovations will be recouped once you sell. Don’t set your expectations too high just because the potential new owners will be enjoying all the hard work you put into your property. Keep in mind that while some changes might see some return on investment, you won’t recoup the whole amount. Likewise, there are renovations that can give you profit, and there are those that can even hurt your home sale. To get an idea of which upgrades yield the biggest return on investment, check out the 2018 ‘Cost Versus Value’ report by Remodeling Magazine. For instance, you can expect to get back only 56% of the costs of an upscale bathroom remodel. Meanwhile, the projects with the biggest return include a garage door and entry door replacement. Real estate agents are being paid a percentage of the selling price of the home. However, this commission will still be divided up between his or her broker and the buyer's agent, leaving the agent with less money in his or her pocket. Even with weeks or months of showings and marketing expenses, no agent would want to lose a potential sale just for the sake of a few hundred dollars. Trust your realtor because they’re the one who knows the market well, and the price given to your home was based on extensive market research.

For starters, what exactly is “as is home”? Selling a home “as is” means sellers put up their homes on the market without doing any repairs to improve its current condition. Rather than putting tons of money, time, and effort to fix the issues in their home, they put it up for listing as is, often for a lower asking price to attract multiple offers. Maybe you're thinking, “Why would anyone sell their home as is?” After all, there’s no better way to increase a home’s value and sell for top dollars than making repairs and staging your home nicely. Here we explain some of the most common reasons why sellers might have to do it: 1. They're in a tight financial situation so they couldn’t afford to do any repairs. Sometimes homeowners would like to sell, but they don’t have the funds to make any repairs or tackle home improvement projects to increase their home’s value. In this situation, they may have no other choice but to sell as-is. There are also instances where a homeowner might have finished doing maintenance work on the home’s exterior but have no money left to spend on interior improvements. There are also those who, well, just want to save tons of money on repairs. Since making repairs and staging are just some costs associated with putting a home for sale, it’s easier to sell as is for those who are in a tough financial situation because they can skip those processes. 2. They want a cash offer. Many people sell their houses as is because they want to attract cash buyers. Many of these buyers are local investors and flipping companies who purchase fixer-uppers or ugly homes and renovate them. Likewise, sellers generally love a cash offer because it helps expedite the home sale process. They get paid faster and use the quick cash to settle debts or spend it on other expenses. Investment companies help distressed owners sell as is by purchasing with cash. The only downside is that you cannot expect them to pay anywhere close to a home's market value. 3. They want to avoid a lot of stress after inheriting a property or going through a divorce. One option for people to offload a house they've inherited after a parent or loved one passed away is to sell it as is. It might make sense if you need to sell with your siblings and all of you live far away to oversee any home improvements before putting it on the market. It can also help prevent a major headache since they only have to split the profits from the home sale, avoiding a family feud. Another common scenario is if someone had just “won” a house after a painful divorce but found out they couldn’t afford to pay for taxes, utilities, and upkeep costs anymore and would rather spend the money somewhere else. In this situation, it’s better to sell the property in its current condition, especially if it can help with moving on into a new life. 4. They want to sell quickly. Making repairs and doing home improvements may sound great, but the truth is they are also too time-consuming to deal with. It takes time to fix every minor issue, make some updates, and even to stage your home. They can prolong the time you have to wait before you can put your house up for sale. Homeowners who want to sell their homes quickly put it up on the market as is. It also helps speed up the transaction if they get a cash buyer or work with a reputable investment company.   A few things to remember when selling a home in its current condition: You still need to disclose known issues and defects. Selling a property as is does not exclude you from disclosing known defects and issues. It remains your legal obligation to talk about the home's existing problems and truthfully answer any question from a buyer. The only exception is if you’ve inherited the property and you aren’t aware of its general condition. It doesn't mean that the buyer will skip the home inspection. Although you clearly stated your intentions when selling the home, it doesn’t mean that a typical buyer won’t request a home inspection that will uncover any issues. Regardless, most mortgage lenders will require a home to be free from any health or safety issues before they can lend money to it. Make sure you've explored all other options before coming up with this decision. Putting your home up for sale can put a lot of stress and pressure on any homeowner. If you are considering selling as is, you may want to get help from a realtor who has experience in this kind of transaction before making a final decision. Maybe you can still come up with other ways to continue with the home sale without selling as is or adopt a creative sales plan that will suit your situation.

Putting on a fresh coat of paint is one of the simplest and cheapest ways to transform the look of a home. However, with the endless colors and shades to choose from, deciding on a paint color can be the most difficult part. In 2019, we bid farewell to Ultra Violet and say hello to Living Coral as the Pantone Color of the Year. But don't just go straight to the paint store to buy several cans of this coral hue. Choosing the perfect color for your home can be tricky and formula guides and color swatches won’t be helpful if you don’t take into consideration some factors involved in your home. So whether you’re looking to sell your home or simply give it a makeover, keep your paint obsession on hold until you read these essential suggestions first: 1. Pay attention to the room's lighting. The light source in the room you’re painting can greatly affect the way a color appears. A certain color may appear different in a room filled with sunshine, compared to a room that’s lit with fluorescent bulbs. So don’t forget to take lighting into consideration when selecting colors for a specific space. 2. Take note of the color’s undertone and the paint’s finish. Despite having endless options, remember that all colors have undertones. And according to TheSpruce.com, “undertones are the secret code of every color.” Some undertones are not easily visible unless paired with other colors. The floor, counter surfaces, and even lighting can all bring out surprising undertones from your painted walls, so make sure that the items or the lighting in the room didn’t bring out an undertone that you weren’t intending to. Likewise, paint colors have varying sheens and finishes, like a matte vs semi-gloss paint. Matte finishes can be cheaper but are less durable, while high-gloss can be easier to clean. 3. Choose paint colors that will complement the fixed furnishings in the room. Take into consideration the fixed furnishings in a room — the flooring, wood finishes, countertops, wallpaper, tile, or built-in cabinets — and choose colors that will enhance these materials. As much as possible, you’d want your wall color to complement the existing color scheme of the cabinetry and other furnishings, especially in the kitchen and bathroom. 4. Keep in mind the character of your neighborhood. Putting a fresh coat of paint on your house’s exterior can give it an instant makeover and spruce up curb appeal, which can be a huge selling point for your home. But when choosing a color for your facade, keep in mind the character of the neighborhood, especially when you’re living in an HOA community. Make sure the color of the exterior will blend well with the landscape surrounding your property and the neighborhood you’re in. 5. Never pick a color from a computer screen. Have you experienced receiving an online order, like a sweatshirt or a dress, that turned out to be a different color than what you saw on the screen when you ordered it? You can blame the computer screen, as colors always show up differently in monitor displays. So if you’re choosing paint colors for your home, better not rely on what you see on the computer. Instead, get color chips from the hardware or paint store to start your search and narrow down your choices. 6. If you’re looking to sell your home, choose paint colors that will give you the best bang for your buck. According to Zillow’s 2018 Color Report, the colors you choose to decorate your home with can have a powerful impact on the home’s sale price. Their Paint Color Analysis showed that the rules and results vary depending on the room type. Although it may seem like a tedious job to paint your house to get it ready to sell, the effort may be worth it. Here are some of the best paint colors to help sell your home: The Blues Blue proves to be the color of royalty, especially when your house with its different shades of blue rakes in more cash than you expected. - A navy blue front door could add as much as $1,514 to the sales price of your home and painting your front door is one of the cheapest projects you can do to upgrade the look of your home. - A light pale blue to a periwinkle blue paint could do well for bathrooms and increases the average selling price of a home by $2,786. - Cerulean or cadet blue is a great choice for bedrooms!   Gray and Beige “Greige,” or a combination of gray and beige, is a trendy color that is the offspring of light gray and warm beige. It's a neutral color that will work well with most types of furniture, textile, and other furnishings. It helps create a modern-day classic feel in any home and is also a safe color when it comes to staging. Zillow reports that greige-colored homes saw as much as $3,496 more than the expected price of the home, even outselling their brown or tan counterparts.   Earth Tones and neutral colors Don’t neglect the neutral colors and don’t even think that they’re boring or won’t help sell your home. In fact, Zillow believes that homes with neutral colors simply have wider appeal for minimalists and maximalists alike, and it could be a signal that a home has other desirable features. Homes with light taupe living rooms, particularly with tan, peach or pink undertones, sell for more than what is expected.   The Good Ol’ Black You can accentuate the color black when you use it for your front door, or opt for black kitchen islands with white cabinets.   The colors you want to avoid (as much as possible) The colors that could be harmful to your home's sale price include: Yellow - Specifically for the kitchen. Homes in this color reportedly sell for $3,408 less than expected, according to the Zillow report. Even homes with brown walls with yellow undertones sell less than expected. Red - Especially in the dining room and kitchen. White - Surprisingly, bathrooms painted in plain white sold for $4,035 less on average.

We love our pets, there's no doubt about it. They’re a part of our family, of our home. However, once you’ve put your house on the market, you need to understand that not all potential buyers would want to see your pets while they are touring your property. In fact, seeing your pets or any evidence of them can make them wince and possibly turn them away, even if they are pet lovers themselves. If you have a dog, cat, or any other pets, here are some extra steps you need to take to prepare your home for sale: 1. Give them a holiday. The best way to keep your home clean and get it ready for showings is to temporarily relocate your pets. If you can, arrange to let them stay with a trusted family member or friend for the meantime. This will give you the chance to meticulously clean your house and eliminate all signs of animals. Likewise, buyers (and your realtor) will have an easier time looking at your property during showings since there won't be any barking or purring in the background. Remember that you won’t be at home when people tour your home, so if your pets can also get out for a little while, the better.   2. Eliminate pet odors. What's one of the biggest deal-breakers among buyers? Funky smells and pet odors, by the way, are one of the main culprits. Removing the scent your animals leave behind can be your biggest challenge when preparing your home for sale. It’s not as easy as hiding away your pet’s accessories or throwing out their litter box. You don’t want buyers to be welcomed by your living room’s magnificent carpet, only to find out that it reeks of urine. Uh-oh. Because you’re already accustomed to the odors in your home, it might be harder to realize how your property really smells. Try using a pet odor remover or baking soda to dispel all traces of your pet’s urine. For animals like hamsters, guinea pigs, turtles, snakes, and fish, clean their cages or tanks frequently. If you need to, you can hire a professional cleaning service to clean your carpets and other hard-to-reach places. Then, bring in a friend or your realtor to do a whiff test to ensure your home smells fresh and inviting.   3. Get rid of pet hair and stains. Aside from the smell, tufts of fur can get stuck to your upholstered furniture and even on floors. This will not only make your home look messy, but it can also trigger allergies among your potential buyers. Make sure that before each showing, you've dusted and vacuumed your entire home to remove any signs of your furbaby’s hair. The same goes for any stains on the carpets and rugs. Take note of any discoloration and fix them, if you can. If not, replace your rugs and deal with the tougher stains on your floors and walls using a commercial-grade cleaner and disinfectant.   4. Hide their stuff and accessories. Remember that your pet's accessories are not part of your home staging, no matter how adorable they look (Yes, even those cute socks and holiday costumes!). Even potential buyers who are pet lovers won’t be impressed and will likely see them as clutter. So those collars, leashes, toys, food, food bowls, and pet beds need to be put away— make sure to clean them before stashing them away in a cupboard or closet.   5. Repair any damage caused by your pets. Take the time to fix any significant damage in your home that was caused by your dog or cat's constant chewing and biting. It may cost you money, especially if the damage to your furniture, carpets, and hardwood flooring is extensive. However, remember that the amount you’ve spent paying for repairs and cleaning may be worth it once you see that many potential buyers want your home and your home eventually sells for top dollar.   Bottom Line Selling a home when you have pets won't be any harder as long as you know how to properly prepare your property to get offers from potential buyers. The best way to manage it is by informing your real estate agent about your pet situation so he or she will know how to handle every little detail to help sell your home.

A home renovation is a great way to add value and satisfaction to your beloved abode. After all, who doesn't love stepping into a new room, a finished basement, or a renovated bathroom? However, before "undertaking any of the character-building, heavy-lifting labor" there’s the time-consuming and costly process of obtaining renovation permits. How long a permit can be approved depends on the scale of the project. For smaller renovations, it may take as little as 24 hours. Expectedly, larger projects might take longer so homeowners may have a bit of a wait on their hands. So who says it isn’t tempting to save a bit of time and money skipping that step entirely and pushing ahead with your planned renovations? Well if you do, prepare to face some terrible consequences. Unpermitted work refers to any modifications made to the home that should have been permitted but were not. Aside from a sunken property value, your biggest risk may lie in the job itself. Without the proper permits, there's no guarantee that your contractors will execute a professional job. The results of this could be disastrous. For instance, if you sell, those substandard improvements might cause you trouble during a home inspection. It's a nightmare to think about, but it means big trouble if your municipality or city office finds out you’re renovating sans-permits. Some cities will only inspect, but some will issue a stop-work order and may even slap a hefty fine on both the homeowner and contractor. Worse still, the city could order a teardown of the entire project with a subsequent order to redo any work done with the proper permits finally in hand. Another area of concern is that any unpermitted additions may not be covered, and even violate your insurance policy. It is especially concerning if an accident or disaster occurred in that part of your home. If there's been a house fire caused by faulty wiring due to poor electrical work, or if someone fell and seriously injured themselves you could be facing a costly nightmare. Filing an insurance claim for a scenario like this could be futile; your policy probably isn't going to cover the issue, additionally, you may be heading towards a complicated, costly lawsuit. As we mentioned earlier, failing to get permits could cause the value of your home to drop. Why? For starters, real estate information in your local municipality needs to be up to date to help maintain home values and stay current with taxes and insurance. Renovation permits will help ensure that your property keeps up with the latest health and safety standards. When you sell, an appraiser will assess your home in order to gauge its objective market value. Any unpermitted work brought into concern because of safety defects could depreciate your home's value. Even worse, you could be fined with the appraiser also demanding that the work be removed and redone—this time with proper permits secured. Likewise, any room additions not up to code will be excluded in the square footage stated in your “updated”  home listing. That means buyers will think your home is smaller than it really is. Notwithstanding the huge laundry list of features and amenities potential buyers look for in a new home, above all is a safe and secure place. Should they discover the house they're looking at has undergone an unpermitted structural remodel, it can imbue them with uncertainty, causing a loss of confidence in your property, and resulting in some serious purchase reconsiderations. The buyer might think you hired someone unqualified to do the work because you didn’t even bother getting permits. They may feel that the completed renovation is unsafe, leaving them clouded with worry about long-term problems down the line. A good buyer’s agent is going to make sure that permits were pulled on any significant additions done to the property, so there’s no escaping the consequences. However, if permits were secured for the renovations, concerns like these all go out the window, with the buyer immediately given peace of mind and assurance, enticing them to make a good and reasonable offer. Well, it might be overreacting, but not getting permits for a significant modification or addition can stop a home sale. Wait, what? You heard right! Once your home has entered the market, a subsequent home inspection and appraisal will follow as is required by the selling process. The inspector will ensure that buyers know exactly what they're getting while the appraiser will look to protect the interests of the bank or lending institution, ensuring proper standards are met before they approve the loan. Both professionals can easily request public records on your home, including the permits (or lack thereof) for any improvements made, assuring that the property is not only habitable but in good working order. It could cost you the home sale if the bank doesn’t want to fund the loan because the appraiser’s requests were not met, or if the potential buyer backed out due to personal uncertainty with regard to property safety and structural integrity.   Admittedly, securing a renovation permit can be a hassle. You have to provide your local municipality with your detailed plans for the remodel, as well as additional documentation if needed. Moreover, permits come with corresponding fees. However, proceeding to push through with a renovation without proper paperwork can lead to dire consequences, as discussed above. The commonalities shared by those risks are time wasted, money squandered and maybe a forthcoming lawsuit. Not to mention, most likely you'd also be required to undo all the work done, taking you and your home back to square one on what could have been a great addition.   Tips: Know what renovations require permits. Any substantial, structural, or significant remodel requires the homeowner or seller to get a permit. These major renovations could include electrical or plumbing work, basement refurbishment, or room addition. However, if you are only updating or sprucing up an existing space, then permits might not be necessary. Consult with your city building committee. However, building codes and the legal requirements to pull a permit vary with every city. With this in mind, it's important to check with your local municipality or city building code committee to make sure there won’t be any problem before you tear down a wall or remodel anything. Hire only licensed and reputable contractors. You can rest assured that they won't work without securing proper permits, giving you peace of mind that their work will be up to code.

Why do home sales fall through? Why is it that sometimes, the buyer or the seller walk away from a home sale, causing it to fall apart and for the home to return to the market? Let's rewind: You’ve put your home on the market and have been doing everything to prepare your home for upcoming showings. An offer (or even multiple offers) comes in and you accept it. Both parties sign a real estate purchase contract and hope everything goes as planned. You’re definitely a step closer to a closed sale. But then, life throws a curveball — an issue comes up that turns out to be a major deal-breaker, causing the sale to fall through. Here are some examples:   An inspection could reveal serious flaws affecting the home sale. If major defects, like structural issues, wet basements, leaky roofs, high radon levels, or mold were discovered in the home, it could be a major deal-breaker for the buyer. These issues could cause the buyer to panic and open further negotiation on the price, or they could ask for a credit or relief from the seller as compensation. If the buyer included a home inspection contingency in their offer, it also allows them to renegotiate the price or walk away due to those issues. The seller, in return, has three options: 1.) They can fix the problems by hiring contractors; 2.) They can credit  the buyer so they can make the fixes themselves; or, 3.) They can reduce the selling price of the property. The problem comes if the seller refuses to do any of these. The buyer can then cancel the home sale and simply walk away, although they may lose the earnest deposit they made when signing the contract. How to prevent this: Sellers should never underestimate the power of a home inspection. Especially for older homes, they should hire a home inspector prior to placing their house on the market. The “pre-listing inspection” will help them address any issues the house may have and give them time to fix them. Once you put your property on the market, and potential buyers order an inspection, you will know what to expect and be able to negotiate more easily.   There are cases where a buyer puts in an offer with the condition that they need to sell their current home before they can purchase a new one. They may include it as a home sale contingency, which makes the contract contingent upon the success of selling their own home within a specific time frame. Not all people can afford to handle two mortgage payments at once. The contingent offer will give them a set number of days to sell their current home. However, if for any reason, their home doesn't sell within the timeframe, it could cause delays with your home sale or cause it to fall apart. You may be left searching for another buyer or having to proceed with a backup offer and begin a new transaction all over again. How to prevent this: Home sale contingencies can be very risky for you as a seller as it can cause the home sale to fall apart. You can avoid this by prioritizing buyers who don't need to rely on the sale of their current home to proceed with the transaction. If possible, reject an offer with a home sale contingency and choose another buyer who loves your home and doesn’t need a contingency in order to make the purchase.   Your buyer has been pre-approved; you've agreed on a final purchase price; you’ve both signed the contract. So far, everything is going great—until the buyer just gets rejected for a mortgage. Keep in mind that a mortgage is not guaranteed until the buyer has signed a final agreement with the lender. While waiting for the mortgage to close, buyers should avoid making significant financial changes, such as taking out a new loan for a car, changing or losing a job, etc. These changes could affect their debt-to-income ratio, which may make them ineligible for the mortgage loan for which they originally applied. Once the buyer’s financing falls through, the pending home sale will go back to active and the transaction falls out of escrow. How to prevent this: To ensure that the sale won't experience any hurdles related to the buyer’s financing, it’s best to accept offers from buyers who already have a mortgage pre-approval. If they are pre-approved, they are less likely to be rejected for a mortgage loan. This means they can get the financing they need to close on the home. With the help of your listing agent, you can request that buyers be pre-approved and only enter into a contract with a serious and qualified buyer. The only exception is when the buyer wants to make a cash purchase. In this case, there won’t be any financing contingency to deal with.   Buyers who apply for a mortgage will be asked by their lender to pay for an appraisal of the property. Unfortunately, sometimes the home appraisal comes in at less than the asking price. This can be a huge deal breaker to buyers because banks will only lend them the appraised value of the home, and not all buyers can afford to pay the difference. This situation is common in a seller's market where there’s limited housing inventory and the rampant bidding wars cause prices to go beyond the normal home value. If this situation occurs, the buyer and seller have a few options. The buyer can order another appraisal from a new professional. If not, they will have to pay the difference in cash. However, not all buyers have the extra amount to bring to the table. They may also ask the seller to reduce the sale price so it’s more in line with the appraisal. Sellers need to be prepared for this negotiation.  The seller can attempt to justify their own appraisal, with comparables in the area, to prove their higher asking price. However, if both parties cannot reach an agreeable solution, the buyer can walk away, and the pending sale will most likely fall through. How to prevent this: To avoid this situation, it's best to list your home with a fair and accurate asking price. Consult with your real estate agent so you can come up with an asking price based on comparable home sales in your neighborhood.     Buyer's remorse or “cold feet” is real. It’s when the buyer backs out of a deal at the last minute after they realize that they don’t want to buy the home. It happens to both first-time and repeat buyers. After all, buying a home is a huge financial decision and is far from simple. Once a buyer places an offer, he or she is legally bound. However, buyers can get scared or overwhelmed with the difficulties of the process. Once they realize they don’t want to continue with their purchase, they will do anything they can to get out of it, whether it be contingencies stated in their offer or loopholes in the contract.   When this happens, the seller is left in a bad position. This is why the earnest deposit is important. This deposit, which is typically 1 percent of the home’s final sale price, is made when the buyer signs the purchase contract. It serves as protection for the seller in case the buyer changes their mind. If the buyer chooses to walk away from the deal due to a change of heart, they will lose their deposit money to the seller. However, it’s still a heart-breaking situation for the seller because they now need to put their home back on the market and start from scratch. How to prevent this: While this issue depends entirely on the buyer and there isn't much you can do as the seller, there are ways you can avoid it. With the help of your agent, make sure that there are no undisclosed points in the contract that a buyer can use to make their offer null and void. Also, in the case of multiple offers, favor a buyer whose offer has fewer contingencies and is confident enough to proceed with the purchase. For buyers, especially first-time home buyers, get the help of an experienced real estate agent who can walk you through the real estate process and eliminate any misconceptions you have about buying a home. Realtors can also provide counseling if they notice any signs of cold feet from their client.   Of course, there are other reasons a home sale could fall through that are out of the seller's control. Regardless, it can be very frustrating and time-consuming when you have to start from square one and put your house back on the market. Whether you are the seller or the buyer, it’s important to know and understand these deal-breakers so you can actively prepare and attempt to avoid them as much as possible.

As a homeowner, there's an f-word that is avoided as much as possible. Even though we don’t want to say it we have to talk about it. Why? Because like most problems, that’s how it’s handled. So say it with us, foreclosure. Most of the time, when people find out that their dream house is facing foreclosure, their world stops. No one buys a house and puts in all the effort into making it a home only to one day realize that it will be taken away from them. Getting a Notice of Foreclosure is something that people dread, and even ignore in the hopes that the problem will go away. Ignoring Your Foreclosure Notice What happens if you don't respond to the notice of intent for foreclosure? When you receive a notice of foreclosure, the best thing to do is take charge. Getting a notice of foreclosure doesn’t mean that the world has stopped because there are many options for you! Even when you get the notice, you can still avoid having foreclosure and bankruptcy on your record. So, to answer the question, ignoring your foreclosure notice will only limit your options and ultimately lead to losing your home. If you’re reading this, and you still haven’t received a notice of foreclosure—in which case you’re at the stage of dreading it—what can you do? Foreclosure Avoidance Plan Banks offer Foreclosure Avoidance Plans for those who want to be extra-sure about their home loans. Always consult with your lender about this first. It will seem like a fair deal, but don't forget that this is actually an additional loan. So now, you’re paying for your mortgage and an additional foreclosure plan. If this is something you can handle, then by all means, go for it!  If you’d rather work on your primary loan before adding another one into the equation, it’s also okay not to enter into a foreclosure plan. Filing for Bankruptcy What if you just totally forget the foreclosure of your house, and file for bankruptcy instead? The good news is, yes, you can do that. Your foreclosure will be curbed if you do this. What happens when you file for bankruptcy is that your lender will not be able to collect the debt from you. The bad news is, courts cannot discharge secured debts that include mortgage payments. What happens here is that since you are filing for bankruptcy, you don't have to pay for your mortgages yet.  However, as soon as your bankruptcy process is complete, your lenders will definitely be back for your debt. In cases like this, homeowners usually struggle with paying for their mortgages after filing in the courts. The worst part is that, most times, these homeowners end up with not just a bankruptcy but also a foreclosure on their record. Your Financial Status Let's say you don’t go with bankruptcy and are looking at simply foreclosing your home. How does this affect your financial status? Your foreclosure report will be on your record for seven years.  Not only that, after those seven years, you may also have to write a report to three major credit agencies to have the foreclosure removed from your record. Although lenders have been more lenient over recent years, those who are approved for new loans, and even credit lines, have to pay higher interest rates. You can’t really blame them, though. They see those who have a record of foreclosure, with or without bankruptcy, as more of a liability than those who have a clean record. You're Not Alone Yes, getting a Foreclosure Notice is something you might have never thought would happen to you. It has been found that this has actually become more common recently. A 2013 study found that over 4.1 million foreclosures were completed in the United States during September 2008-December 2012. This is quite a big number and does not even include those who avoided foreclosure through some of the methods mentioned above, those who opted to sell their homes, or those who found ways to work things out with their lenders.

Ah, spring! When the trees blossom, the lovely tulips and daffodils bloom, and everyone's mood brightens. But aside from our daily dose of sunshine during spring, we also see the high season for real estate. As the temperature rises, the housing market starts to heat up.  Even in areas where the weather is great all year long, spring remains the most active time for house buyers and sellers alike. While there are plenty of reasons to consider selling in the spring, here’s a few examples as to why it’s so worthwhile: 1. You can show a better-looking home. Unlike selling in the colder months, which can be stressful because of the snow and harsh weather, you can go to greater lengths in spring to prepare your home for sale. If you list your home in the spring, you can take advantage of the warmer weather and elevate your home's curb appeal. Show your home at its best to draw the attention of potential buyers. Maximize your curb appeal by cleaning the walkways, strategically placing colorful plants and flower boxes, maintaining the lawn, and making it as green and lush as possible. Allowing the natural sunshine to stream through the windows of your home helps showcase it in its best light. Additionally, don’t forget to address parts of your home that are in need of repair or upkeep, especially if you haven’t done annual maintenance yet. 2. The longer days and better weather make it easier for buyers to go looking for homes. When the clocks sprang forward in March, the days became longer. More daylight hours means more potential buyers can view your home. Likewise, the good weather gives people a boost to go outside and search for the picture-perfect home just like yours. Unlike home shopping in winter, where buyers need to drive through crappy weather in their soggy boots just to visit an open house, springtime brings in a fresh pool of potential buyers who've done their homework and want to use the longer days wisely. This improves your odds of landing a desirable offer for your home. 3. It's a perfect time for families who want to move before the new school year. Many home buyers with families are looking to move before the summer and the start of a new school year. This way, their children will still have a couple of months to get settled in their new neighborhood. If you put your home on the market early enough in the spring, your pool of buyers won’t have the same sense of urgency seen in summer or winter sales. Parents who buy in the spring can move during the summer, avoiding juggling their time between school pickup and packing up their stuff to get ready for their new home. 4. The buyer's demand is higher and could spark bidding wars. It’s no surprise that the months of March, April, and May are the best months for sellers to list their homes as many people are ready to enter the housing market to purchase. More buyers means more potential offers. Sellers can even expect to receive multiple offers, often sparking bidding wars. Buyers will always be competing for homes, especially if the home is in a good location and is listed at a reasonable price. If a bidding war occurs, the cost of the house is most likely to increase, putting the seller in a stronger position to receive more money for the home. In those months, there’s also a greater chance that you’ll encounter an all-cash offer. This could speed up the entire home selling process. A cash buyer won’t have to rely on mortgage financing or on the sale of their current home, the so-called contingencies, in order to close the deal. 5. Higher home valuation Since prices tend to be higher and more homes are being sold this season, the data for comparable homes that were recently sold in your neighborhood can also work in your favor. Your agent will have access to more of these comps when setting a price for your home. Likewise, when your home's value is assessed by an appraiser, he or she will look at these comps, so your house is more likely to pass the appraisal if you’re selling it at fair market value. 6. You can be a bit more selective about who you sell your home to. With more people getting into the market, you can afford to choose who you sell your home to. You don't have to sell your house to the first buyer that gives you an offer, and you can stay firm on your price. The increase in demand affords you the opportunity to receive your asking price and close on the offer with which you are most comfortable. You can also decide whether to sell to an individual owner, joint owners, or even corporate buyers.   7. It's also easier for you to move. Even though your primary goal is to sell your home, chances are you are also planning to buy and move to a new home yourself. Since entering a real estate transaction can be stressful (not to mention chaotic), it’s another good reason why spring is the best time for you to sell. The weather is more convenient, you can take advantage of the longer days to accommodate home showings and also do your own house-hunting. There’s a greater chance you can sell your home quickly and for a higher price due to the higher demand in the spring.

A short sale transaction is different from the usual home buying process. It involves more waiting time, and more leg work for your agent. Due to the rise of short sale properties on the market, training companies see it as an opportunity to train agents specifically in this area, giving them certification upon completion. Although it's a plus to have your agent be trained in short sales, it’s better that they have actual experience doing the work. Here are some pointers on short sales, and the qualities you should seek when hiring an agent for this transaction. What is a short sale? If you've come across properties that are priced below the usual market value, those properties are most likely a short sale. A short sale is when a property is sold for less than its unsettled mortgage. The value of the properties put up for a short sale has usually dropped by 20% or more. How does a short sale work? If a homeowner is in financial strife and there is not enough equity in the home to pay off the mortgage after paying for the costs of sale, they may consider a short sale. A short sale allows homeowners to avoid incurring a bad record of foreclosure on their credit rating. To do so, they must present documents that support their claim of inability to pay off their remaining mortgage balance to their lender. These documents are subject to the approval of the lender before the house can officially be put up for sale. A prospective buyer will have to make an offer to the seller, and also to the lender, and wait for their short sale approval letter.   As a home buyer, what are the advantages and disadvantages of buying a short sale? Advantages: It's cheaper than the usual house prices in the market - The last thing that the bank/lender and the homeowner want is for the house to remain for too long on the market, so they price it low to attract buyers. Less competition with fellow buyers – Most buyers are not prepared to wait, and since the process of buying a short sale can take time, this trims down the number of prospective buyers that can make an offer on the property. Disadvantages: The process is long – Processing the escrow is a long haul, and the approval of your offer is passed on from the seller to the lender. You may need to pay costs that are not included in the selling price – Included in these costs are the closing costs, which the lender will not agree to split. There may be additional costs as well. You buy the house as is – Contrary to the norm of buying a property and asking for a decrease in price based on necessary repairs, price reductions for a short sale will usually be declined.. You can counteract this by including contingencies on home damage and repair on your purchase contract. You may need to pay part of the agent's commission – It’s the lender who calls the shots on commissions for the agents in a short sale transaction. They typically pay more to the seller’s agent. Buyer’s agents know this is the case, and may request a higher commission be included in the buyer’s brokerage agreement. What agent qualities should I look for when deciding to buy a short sale home? They've handled short sales before - And to be exact, an agent who’s not only handled but closed a short sale. If they’ve closed a handful, that would be even more ideal because that means they know the necessary (and tedious!) legwork short sale transactions require. They could also acquaint you with lawyers to aid you in the negotiation process. Ability to explain the whole process of a short sale to you in a comprehensible manner – Have them explain to you all the legwork and necessary measures involved in a short sale transaction. That way, you are able to prepare what needs to be done, and ascertain whether they have enough knowledge to handle the transaction. They have a trained eye for spotting red flags – An agent with a good amount of experience in short sales can easily detect if there are possible legal or tax consequences. Once they spot something fishy in the transaction, they can direct you to consult with your hired attorney on how to address the issue. They’re knowledgeable on lenders and banks –The lengthy part of the short sale process is really at the bank, and the agent will need to call for regular updates. An agent who has closed a lot of short sales will know how the lenders/banks fare in the process. This can shorten the process significantly, as there would be no guessing game on your side of the equation. Your agent would already know how to strategize in order to expedite the process and make it as smooth as possible.

During the spring and summer months, bidding wars are rampant, there's fierce competition, and a large pool of buyers are looking to move before the school year begins. But in winter, especially in colder climates when everything is covered in snow, sellers and buyers alike can also take advantage of the season to score a good deal on real estate. Experts say that the idea that homes are very tough to sell or buy in the winter might be a myth. When temperatures drop, the market could be full of eager sellers and serious buyers who are both looking to score a cold, sweet deal. Advantages for Sellers You have less competition Since there are fewer homes on the market, you have less competition from other sellers. The low inventory creates increased competition among buyers, which generally result in higher sale prices. This is why winter can also be an ideal time to sell your home. You will show your home to a pool of serious buyers When you put your home in the market during the winter months, there's a greater chance you’ll attract a pool of real buyers looking to purchase and not those window shoppers who are just curious about the house. These serious buyers want to take advantage of the less competitive market and don’t want to wait until spring to get their hands on their ideal home. You can highlight that your home is winter-ready Aside from cozy fireplaces, hot tubs, and steaming mugs of hot chocolate with freshly baked cookies that await buyers when they tour your home, you can feature your house’s winter-readiness when you sell in the colder months. Show off the design and features that will make their life easier during winter, like an easy-to-shovel driveway, new roof and furnace, south-facing windows, and well-insulated pipes, among other things. These features, however simple, will show that your home can handle the harsh elements. Many buyers are looking to relocate People often look to relocate at the start of the year, especially those with new job opportunities, or young parents who want to start the new year somewhere in a more spacious family home. These buyers are serious about the sale and want to secure the property before Christmas or New Year. They are more likely to sign on the dotted line once they find the home they are looking for, which could potentially mean a swift sale with fewer contingencies. Advantages for Buyers Take advantage of this season to score a bargain Because more buyers are likely to house hunt during warmer weather, home prices are generally lower in the winter. You can then take advantage of this season and have more buying power since sellers are motivated to sell their home and move before the year ends. However, don't assume that you can automatically score a sweet deal. What you can do is use the seller’s motivation to negotiate a bargain. This is particularly in markets where there’s generally less interest and the seller already feels some pressure. They might be more willing to accept an already good offer rather than waste time waiting for a better one. Work closely with your real estate agent to give a good offer and secure a quick settlement. You can use your end-of-year financial bonus to enter the housing market The end of the year also means many employees or workers will get their performance reviews, which could mean receiving financial bonuses and large payouts. If you’re a first-time home buyer, you can use this opportunity to enter the housing market and invest that money in purchasing your ideal home, especially if your credit is already in good standing. Buyers can also use the incentives to upgrade their living situations. Before starting your house-hunting this season, just remember to avoid too much holiday debt while shopping for gifts for your loved ones. Any new debt can change your debt-to-income ratio and affect your mortgage pre-approval. Keep in mind that buying a home can be your biggest investment, so take note of your priorities especially this holiday season.

  There are several misconceptions that you might fall trap to when it comes to selling property. If you're planning to put your house in the market, make sure that you don’t make the following mistakes. Misconception #1: Organizing multiple open houses will surely bring in more buyers. Having open houses can be laborious for you as a seller; all that prepping, moving furniture, and showing strangers around can be overwhelming and time-consuming. But that's no reason to skip it altogether! It has been proven time and again that conducting several open houses could really draw in serious buyers. However, sellers must be wary of some “interested buyers” who go just to open houses as voyeurs: wanting to know how people live, and getting ideas for home decor. The best way to do this is to have a strategy so that your time, energy, and resources don’t go to waste. Open houses are usually held during weekends, but you can make time for it during the weekdays, as most serious markets are inclined to peak during the week. Also, have your agent make good use of technology to put up your open house dates in apps and websites where homebuyers are set to look for listings. Misconception #2: Home inspection on your end is a waste of time. Buyers will most likely subject the house to a home inspection once they're serious about buying it. But just because buyers are set to do this doesn’t mean you can skip this for yourself. Having your house inspected by a professional before putting it up for listing will help you address issues in the house you might have missed. Also, presenting the home inspection report to prospective buyers will make room for transparency in the transaction -- which is always a good thing. Misconception #3: It is best to decline an offer given right after putting your house on the market. Sellers normally get overwhelmed after getting a first offer on their home, which then leads to the decision to decline and wait for better offers to come in. However, this is not always the optimal choice in real estate selling, especially in slow markets where it could take weeks or even months to get another offer. If the first offer you get is reasonable and is not below your listing price, then it would be wise for you to consider it. Misconception #4: Overpricing the home will drive up its value. As a seller, you want to safeguard your asking price, so it may seem logical to mark it up to make room for negotiations should the prospective buyer ask for a price reduction. Keep in mind that your goal as a seller is to not keep the house in the market for too long, and having it unreasonably priced may do just that. Buyers could be intimidated and may not look at the house in the first place. Be realistic in how you price your home -- consider the home's location, the surrounding properties, and current market conditions. Misconception #5: It is good to let the house sit in the market for a long period of time to give way for better offers. There are several factors that keep a property in the market for too long such as poor location or shoddy housing condition. But one common factor is related to the above number: property is not competitively priced, and the seller may be too unrealistic with the asking price that they're unwilling to level it with market conditions. Remember that having your home sit in the market too long can depreciate it. The longer you persist in selling an overpriced home, the more you’ll encounter buyers with lowball offers. Misconception #6: Lavish home improvements will increase the value of your home. While a home improvement can increase your home's appeal to buyers, keep in mind that doing it does not assure a complete return on investment as you may only recoup a percentage of your expenses. Keep the home improvements practical and minimal; improving your lighting and mowing your lawn can already make a difference without to spend too much.

BuyerSeller September 30, 2018 The biggest mistake that both home buyers and sellers could make is skipping or waiving the home inspection due to various reasons, like during a bidding war. And while a home inspection contingency clause is almost always included in a purchase contract, some buyers agree to waive the vital inspections to win their dream home in a competitive market. Often, sellers skip it to save time and money, not knowing it may leave them little to no time to address any important concerns before they put their home on the market. However, it's a common ingredient for regret and unexpected costly repairs that could’ve been avoided.   Here are seven valuable reasons why both buyers and sellers shouldn’t skip the home inspection:   Remember that there's always more to a home than what meets the eye. It may look beautiful and something that exists in a storybook, but the truth is it’s almost impossible to know all about its details and issues. There are ugly homes with problems that are only “skin-deep,” while there are great-looking homes that have bigger problems like termite infestation and mold. These issues can be missed even after multiple showings. Even new construction homes can have issues unknown to buyers that only a home inspection can uncover.   Even after years of living in your beloved home, a home inspection can reveal unexpected flaws that you didn't even know existed. When did that hole in the kitchen ceiling become so big? Was my dog responsible for all those scratches on the walls? Hidden problems in the foundation, roof, or wiring you didn’t even notice as the homeowner could lead to larger issues. A home inspection ensures that there won't be any unwanted surprises in the form of serious safety issues. Through a thorough investigation, both parties can make safety their number one priority. If serious safety issues were found, the seller can promise to make the necessary repairs to guarantee that the home is safe and habitable.   The results of a home inspection can be a great tool for transparency and future planning, especially in estimating future expenses. Buyers can use the detailed findings to plan for future upgrades, calculate for repairs, and carefully prepare their budget once they become homeowners. Meanwhile, sellers can use it to plan for renovations and deal with them as soon as possible. That way, they can continue with the home sale with fewer contingencies and minimal setbacks.   Having a home inspection performed can give you the power to make negotiations with the seller to offer a lower price for the home. Depending on the information gathered, you can include words in your purchase contract requesting the seller to make the repairs. Or if they are unwilling to do so, you can ask them to estimate the costs and take that amount off the final purchase price. You can use the home inspection report as a leverage when negotiating for a better selling price. By knowing the true condition of your property, you can deal with any problems on your own terms and fix them beforehand. You won't have to deal with any of the buyer’s request to lower the price or arrange for repairs, which could cost you a huge amount of money or even the sale itself.   While a home inspection can cost a good sum of money, it's a significant investment that will save you from any costly repairs down the road. Things like safety hazards, pest problems, or water leakage in the basement can end up costing you a lot more money once you already own the home. And all those issues and defects could have been revealed by a home inspector if you only allowed an inspection to push through. The home inspection phase can be a huge pitfall for both parties in a real estate transaction. Sometimes a transaction doesn't move forward because the buyer and seller couldn’t agree on the repairs requested from the inspection. A buyer may not feel entirely comfortable with the findings while the seller may refuse to accept more requests. Having a home inspection ahead of time can help expedite the process for both the buyer and seller. Worst case scenario: a buyer can get cold feet and will not proceed anymore with the transaction if they’re not satisfied with the negotiations after the inspection.   The inspection eliminates all the possible “doubts” and “what ifs” of both parties. Buyers will feel certain and satisfied with their purchase, eliminating buyer's remorse and giving them a peace of mind. Sellers can also feel confident once the real estate transaction was completed because they can avoid the threat of any legal action due to improper disclosure. A home inspection is a great way to make both the buyer and seller feel positive that they have reached a fair deal in the transaction.

Whether you are a homeowner planning a major remodel or a seller preparing to put their home on the market, an important factor you have to consider is the products and materials you will use. This time, why not try to become more environmentally conscious when remodeling your home? You can incorporate eco-friendly and energy-efficient products into your home renovation ideas, especially those green solutions that are easily available and affordable. One benefit is that there are certain tax incentives for homeowners who installed alternative energy upgrades, stated in the Residential Energy Efficient Property Credit. According to the REALTORS® and Sustainability 2018 Report by the National Association of REALTORS® Research (NAR) Group, 71% of respondents said energy efficiency promotion in listings was very or somewhat valuable. Many MLS has green data fields that real estate agents typically use to promote green features, energy information, and green certifications. Likewise, 56% of these REALTORS® find that clients are at least somewhat interested in sustainability. Here are the major reasons to take on eco-friendly home improvements: Lower utility bills - In the same report, 28% of REALTORS believe a home's utility bills and operating costs is one of the home features that are most important to their clients. Energy-efficient upgrades can help reduce your water and energy bills — a significant return on investment that any homeowner will appreciate. To reduce your carbon footprint and help the environment - Tackling these environmentally friendly projects promotes healthy living for you and your family, while helping to save the planet. Higher ROI when it’s already time to sell your home - Eco-friendly home improvements, especially in the kitchen and bathroom, add value to the home itself. They will be more prominent when it’s time to put your home on the market. Likewise, for buyers who are interested in an energy-efficient home, they can connect to a lender who provides lending products that encourage energy efficient improvements to existing homes. Yes, there’s more you can do as a homeowner aside from using LED bulbs for your lighting fixtures. Here are some of those green home improvement projects that are relatively low-cost and easy to add or install: 1. Using low-VOC paint for better air quality Adding a fresh coat of paint to any room is a surefire way to transform it and make it look new. It's also one of the minor fixes that home sellers can do before listing their home for sale. However, many paints contain high levels of volatile organic compounds (VOC), which can cause several respiratory problems and contribute to ozone pollution. So next time you want to apply a fresh coat of paint to renovate a room, opt for low-VOC or non-VOC paints. These are water-based paints that are generally more environment-friendly than oil-based paints with high VOC content. You will end up with a room that looks not only fresh but also has better air quality. 2. Installing water-saving fixtures and appliances Whether you are planning a kitchen or a bathroom remodel, it’s a good idea to replace your regular fixtures and appliances with their water-saving counterparts. Installing low-flow fixtures and appliances like faucets, shower heads, dishwasher, and even high-efficiency toilets, can help lower your water consumption. It’s a great way to conserve water without compromising your daily usage and comfort. Eventually, it can offer big savings in your wallet by trimming your water bills — an advantage that you and the future owner of the home can both enjoy. Toilets, for example, account for nearly 30 percent of an average home’s indoor consumption. Switching your older, inefficient toilet with a low-flow model can lower your water bills by about $110 a year, according to the Environmental Protection Agency (EPA). Think about it: you can save your wallet and the planet at the same time. 3. Electric Tankless Water Heater Another great option you can add on your next bathroom remodel is a tankless water heater, which is a great way to save water, money, and energy. Tankless water heaters either use gas or electricity and are generally more cost efficient. They heat water you only need to use in just seconds and there’s no need to wait for the water to heat up while wasting more water in the process. It’s another eco-friendly bathroom improvement that can add value to your home. 4. Programmable, Smart Thermostat Compared to manual thermostats, this smart home technology is a great investment to help make a home more eco-friendly. Smart thermostats, such as the Nest Learning Thermostat, can help you save energy and lower your utility bills since you can control your heating and cooling needs. The technology will also allow you to program your temperature preferences on the areas where you need it most. You can set up these thermostats (through their mobile apps) to turn on when you wake up and turn off when you leave the house, contributing to bigger savings. 5. Energy-efficient Windows Energy-efficient dual pane windows made from vinyl, metal or wood offer better insulation for your home compared to older, single-pane models. They can reduce your energy usage during both hot and cold climates, helping you save money while also lowering your environmental footprint. Double-paned windows also have great soundproofing qualities. They can significantly reduce outside noise, which can be a valuable investment if you live in the city or in a busy urban area and don’t want to wake up to the blaring car horns or sprinklers early in the morning. 6. Energy Star appliances Replacing your dated appliances with new and high-efficiency models, especially those with an ENERGY STAR certification, will not only allow you to reap the benefits of energy savings but also help sell your home for top dollars. ENERGY STAR is an initiative of the U. S. Department of Energy that identifies energy-saving appliances and products. Its ceiling fans, for example, are 50% more efficient than conventional fans because they use less energy to operate. Since the kitchen is a focal point in any house, home buyers will want it to look at its best. If you’re planning a major kitchen renovation, upgrading your washer, dryer, dishwasher, and refrigerator will enable your kitchen to stand out in terms of energy efficiency, design, and functionality. On the other hand, here are some big-ticket renovation ideas if you feel you’re up for it: Eco-friendly wood flooring and using other renewable wood products - Options include bamboo flooring, marmoleum, and other eco-friendly wood flooring substitutes. Solar roof panels - Homeowners who install solar panels, especially when installing a new roof, can receive rebates and credits from the solar power owner or utility company. Sustainable landscaping using native plants - One eco-friendly alternative to improve your home's curb appeal is landscaping using native species of plants. These plants are easier to maintain, and won’t be a risk to the surrounding ecosystem. Improved home insulation - Homeowners can switch to alternative types of insulation that are environmentally conscious, such as insulation made of wool, cotton, or other recycled materials. Tips on how to effectively sell your energy efficient home: Find a real estate agent with an extensive background in selling green homes or energy efficient homes. Clear communication is important for selling these upgrades to potential buyers. They have to see for themselves what they will buy and benefit with as the homeowner. This is why finding the right real estate agent who understands the benefits of your energy-efficient home is paramount. He/She should be able to advertise it appropriately, marketing it to the right buyers. The agent should also be able to explain those green upgrades to those interested buyers effectively. Documentation can help you sell faster. It's important to not only feature the upgrades you made but to also highlight the benefits of those projects for you as a homeowner. Compare your water and energy bills before and after the remodel and emphasize how much you saved. The difference in your utility bills will be a good selling point your interested buyers will look forward to. Consider getting an appraisal from a certified appraiser who knows how to properly evaluate green properties to determine the value of your energy-efficient improvements. This is a good first step to help you decide how much you should list your property, aside from the list price you and your real estate agent will come up with.

Whether you're planning to buy a home or sell your current one with the help of a real estate agent, it is important for you to understand what commissions are and who pays for them. A real estate commission is a fee typically paid by the seller for the services of both the listing agent (also known as the seller's agent) and the agent that represented him (known as the buyer’s agent). This commission is usually 6% of the paying price and is given once the deal has been closed and the payment, whether they be in full or partial, has been given by the buyer. It’s not directly given to the agents but instead passes through the brokers they work for. Listed below are certain factors that influence how much a real estate commission is: Experience - agents who have only been in the real estate industry for a short while will get lower rates than those who have been in it for long. Meanwhile, top agents may get 100% of the commission fee and just give their broker a desk fee. Locality - the real estate market may either be moving slowly or fast-paced in different states or localities, and the agent's commission sways with the state of the market. Another thing is that it’s common for the listing agent to be paid more than the buyer’s agents in some states. Buyers should acquaint themselves with local co-brokerage fees so that they would know if the agent working for them is paid less than the local custom. Agreement between parties - the percentage of the split in commission is based on the discretion of the real estate agent parties. There are also instances when the seller or the agent will negotiate on the percentage of the commission.   1. Familiarize yourself with the different people you will have to transact with - Whether you're a buyer or a seller, real estate agents are the ones who you would most likely interact with the most during the process because they act as your representative to the other part. it’s good to know each person and their specific role during the sale of the property. Here is a brief description of each type: Broker - Brokers rank higher than agents in that they take an exam for licensure with stricter requirements such as completion of eight-level and at least two years of real estate experience. They can choose to either operate on their own or hire agents and they are responsible for the actions of the agents they hire. Agent -  Agents are also licensed by the state, but unlike brokers, they cannot work independently and must be employed by a broker. There are agents which work exclusively for each party in the transaction -- listing agent for the seller, and buyer’s agent for the buyer. It’s important to note that it is not legal in the 50 states for a dual agent, or an agent who represents both the buyer and the seller, to operate.        2.  Know the local rates - As what’s stated beforehand, there are several factors that affect commission. But just to arm yourself with more knowledge, it’s best to acquaint yourself with the standard rate of the area where you wish to buy or sell your home.     3. Know what a buyer’s agency agreement is - This is an agreement between a buyer and a licensed brokerage firm or a real estate agent that stipulates both of the parties’ commitment to the sale and to assure the agent or the firm that they will be duly paid after closing. Standard forms of agreement vary per market and brokerage firms.

Remodeling a bathroom is nothing like a piece of cake or a walk in the park because it's an essential part of the house that involves complicated plumbing. You have to make sure that the new fixtures you choose will not only fit the design but also the bathroom’s layout. You also need to measure out everything even if you’re only rearranging things and adding a few items. If you’re planning to sell your home, the bathroom may not be the first thing that potential home buyers will see but it’s a crucial element that can always make or break the sale. In the 2018 Cost vs Value Report by Remodeling Magazine, a mid-range bathroom remodel costs an average of $19,134 and has a resale value of $13,422, which recouped the costs by 70.1%. Moreover, the National Association of Home Builders Remodeling Market Index or the RMI survey always includes bathroom and kitchen remodeling as the two most common remodeling jobs. So for homeowners and sellers alike, here are some of the biggest mistakes when renovating a bathroom you need to take note of: 1. Not planning according to space and layout. Experts refer to this mistake as the lack of “spatial awareness,” which could lead to bigger problems later on once renovation starts. What many homeowners don't know is that spatial planning is the key towards a successful bathroom remodeling. It means you have to fit something in your design without losing its function and still maximizing the space. You need to consider whether you will have enough space to comfortably open the shower without squeezing yourself out of the door, get on and off the lavatory without hassle, or easily open the cabinet doors. It also includes making sure that all elements are in their right places and are close enough to function (Yep, make sure the toilet paper is within your arm’s reach!). Remember that you will use the bathroom every day, so you need to plan your remodel according to your bathroom’s space and layout to maximize convenience. 2. Ignoring ventilation. While it's more fun to install a new shower or vanity, never make ventilation the least of your priorities. Don't underestimate its importance especially if you don’t have a window that provides natural ventilation. Poor ventilation can cause pervasive mold or mildew to grow that can cause you potential headaches. It can also make the bathroom uncomfortable during and after someone took a shower. Install a quality and powerful exhaust fan that can handle the size of your bathroom. Heat lamps can accompany those fans as well since they can reduce moisture. 3. Incorporating improper lighting. For most of us, bathrooms are our little haven where we get ready and pamper ourselves before facing the world every day. Just as how proper lighting is a key factor to getting a good shot, it is also important in the bathroom. Anyway, no one would enjoy using the loo if it's poorly lit. If you have plans to sell your home, the last thing you’d want is for buyers to find out your bathroom has unflattering lighting.   The trick to solving this mistake: plan your lighting fixtures before starting the renovation. Because while these fixtures will be installed last, you need to decide firsthand the lighting that will best accommodate your space and design. You may also have to consider your preferred shower style to help you decide whether you need lighting above the shower or tub. LED and recessed lighting rarely work well in bathrooms as they can create shadow lines (not good if you’re applying makeup in the bathroom mirror). This is also why vanity lighting is a top consideration. According to experts from This Old House magazine, halogen bulbs set the gold standard to be used in bathrooms. They cost a few dollars more than standard incandescent lights but can last three times as long and also fit most fixtures. 4. Not considering whether there's enough storage space. Storage may not be written on your list when you’re planning the remodel. But it shouldn’t be ignored as well if you already couldn’t store most of the things you need in your bathroom. It’s important to give plenty of thoughts on your storage options right from the start. As much as possible, incorporate plenty of storage space in your design depending on how many people will use the bathroom. There should be plenty of space where you can store the much-needed toilet paper, makeup, cleaning products, and other items. Consider it a game-changer as well if all the family members wanted to have their private bathroom storage. You may opt to install a larger vanity or add recessed shelves to achieve this. 5. Getting the wrong materials. Remodeling can be an endless battle between functionality and design. Remember that a bathroom deals with more moisture than any other part of the house, so you have to take into consideration the right materials you will use for the job. Avoid using porous materials that are highly susceptible to mold, distortion, and will keep moisture. Remember that as a homeowner, you may also have to use the strongest cleaning products to clean your bathroom surfaces. Make sure that the materials you use in remodeling your bathroom can also withstand such harsh cleaners. 6. Using mismatched fixtures and unbalanced decor. Aside from choosing the right materials, don't be pressured to get the same brand for all your fixtures and furnishings. Just make sure that whatever you use will have the same finish. And while there are countless heights, sizes, and styles to choose from, you only need to know how all those designs will fit and work together. Remember to follow the “rule of threes” when selecting specific colors and patterns to decorate your bathroom. If you have a smaller bathroom, the last thing you’d want is for it to feel overcrowded or worse, cluttered. Select decorations with unique patterns, textures, and colors that mix well together for that lovely finish. 7. Not knowing when to do DIY and when to seek professional help. Poor DIY can be the arch-enemy of any remodeling work. It might be tempting to do the tiling yourself or try to get your hands dirty to fix the plumbing, but DIY isn't always a good practice. Always seek professional help if you want a major bathroom renovation that includes installing a new shower stall or fixing the wiring. Avoid thinking that hiring a professional bathroom remodeler can be expensive because they can actually save you more time, money, and frustration in the long run.