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Home Improvements that may get you the best return when you sell.
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Kitchen remodeling – 90%
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Add a bathroom – 90%
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Install central heating – 90%
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Bathroom remodeling – 80%
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Install central air – 75%
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Add a deck – 70%
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Replace windows – 70%
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Add a room – 55%
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Build a pool – 45%
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Finish a basement – 40%
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Grace Chang - Residential Real Estate Agent
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Helpful Tips
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Grace Chang
Weichert, Realtors
505 Millburn Avenue
Short Hills, NJ 07078
Office: 973-376-4545
Office Fax: 973-912-0072
Licensed in NJ, USA
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Helpful Tips for Buyers
1. Find a real estate agent
that’s caring, dedicated and honest. Home buying is a big financial commitment and also an emotional one. The agent
you choose should be both skilled and a good fit with your personality.
2. Remember, there’s no “right”
time to buy, any more than there is a right time to sell. If you find a home now, don’t try to second-guess the interest
rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price
and a good home won’t stay on the market long.
3. Accept that no house is ever perfect. Focus in on the things that
are most important to you and let the minor ones go.
4. Don’t wait until you’ve found a home and made an
offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an
offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
5. Factor in maintenance
and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave
yourself short and let your home deteriorate.
Common Closing Costs for
Buyers
The lender must disclose a good faith estimate of all settlement costs.
A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting
the closing will tell you the required amount for:
- Downpayment.
- Loan origination fees.
- Points, or loan discount fees you pay to receive a lower interest rate.
- Appraisal fee.
- Credit report.
- Private mortgage insurance premium.
- Insurance escrow for homeowners insurance, if being paid as part of the mortgage.
- Property tax escrow, if being paid as part of the mortgage. Lenders keep funds
for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
- Deed recording fees.
- Title insurance policy premiums.
- Survey.
- Inspection fees—building inspection, termites, etc.
- Notary fees.
- Prorations for your share of costs such as utility bills and property taxes. .
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Helpful Tips for Sellers
Things to Do Before You Sell
1. Get estimates
from a reliable repair person on items that need to be replaced soon, a roof or worn carpeting, for example. In this way,
buyers will have a better sense of how much these needed repairs will affect their costs.
2. Have a termite inspection to prove to buyers that the property is not infested.
3. Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned
and cancel a contract.
4. Gather together warranties and guarantees on the furnace,
appliances, and other items that will remain with the house.
5. Fill out a disclosure
form provided by your sales associate. Take the time to be sure that you don’t forget problems, however minor, that
might create liability for you after the sale.
Getting Ready to Show your Home
Everything from floors to windows must be spotless.
- Clean ovens and other major appliances
- Keep bathrooms clean and fresh
- Clean chandeliers
- Make sure interior walls are clean, add a fresh coat of paint if needed
- Make sure your windows let in as much light as possible during showings, light and bright is always best.
Eliminate Clutter
- Put away small kitchen appliances and other items that are sitting on countertops and tables.
- Remove photographs and magazines from table-tops.
- Organize the closets.
- Remove anything that is sitting out of place.
Outside Tasks
- Clean drain gutters.
- Store or organize items that make the yard look messy.
- Make your front entry inviting. Clean the screen door. Paint the door or buy a new door.
- Clean or change lighting fixtures
- If your budget allows, paint the outside of the house
- Plant some flowers or put out potted plants near the entrance
- Mow the lawn, maintain flowerbeds and hedges
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