Tag Archives: Selling Your Home

How to Finance Your Home Renovations

Have you ever watched the TV show ‘Love It or List It?’  Perhaps you’re thinking of staying put until the market gets a little calmer, but you would like to do some home renovations.  Outdated kitchen. Overrun backyard. Unusable basement space. If you have a home renovation project on your mind, the first thing you must consider is how are you going to finance it. Here are some of the most common options to make your dreams become a reality.

Cash. Paying in cash is the most straightforward financing option, just save until you have enough money to cover the expenses. This will help eliminate spending outside your budget; however, it can also extend your timeline.

Mortgage Refinance. If you’ve been making payments on your home for a few years and your interest rate is higher than the current market rates, you may be eligible for a mortgage refinance, reducing your payments and freeing up some money.

Cash-Out Refinance. You can tap into your home equity and borrow up to 80 percent of your home’s value to pay off your current mortgage plus take out more cash to cover the renovations. This option is encouraged only when you’re making improvements that will increase the value of

your home, as it can add a lot of interest and fees.

Home Equity. Getting a home equity line of credit allows you to borrow money against the value of your home. You receive usually up to 80 percent of your home’s value, minus the amount of your loan.

Retirement Funds. Homeowners can consider pulling money from a 401K or IRA account, even though they aren’t specifically meant to cover a home renovation. This option might incur additional penalties or tax payments but may be worth it when making improvements that will benefit them financially in the long run.

Whichever option you choose, consider the renovations carefully in regards to resale.  You want to make sure the renovations will increase the value of your home but not overprice it for the neighborhood.  And of course, after you do the renovations and you decide you want to list, give me a call.

Hope you found these tips helpful.

Sincerely,

Marie

The Dinsmore Team

Experience, Passion, and Commitment to Excellence

Fees to be Aware of When Purchasing a Home

Purchasing a home is arguably one of the biggest financial decisions you will make in your lifetime. As you start your hunt, don’t forget there will be other costs associated with your purchase than the price of the home. This is valuable information, especially for first-time homebuyers. These are all good reasons to hire an experienced Real Estate Agent to help navigate you through the process, plus the fact of multiple offers and homes now selling above listing price.

Here are 5 fees to keep in mind as you begin to budget.

  1. Home inspection. This is a crucial step in the home buying process. The findings that come from the inspection can help you negotiate price and repairs. Generally, you can expect to pay between $300 to $500 depending on the home and the location.
  2. Title services. Title services encompass the transfer of the title from the seller and a thorough search of the property’s records to ensure to no one will pop up with a claim to the property. Additionally, you may need to buy title insurance which will protect the lender or your investment in the home.
  3. Appraisal fee. Before getting a loan, you will likely be required to get an appraisal of the home to determine its estimated value. This will be conducted by a third-party company and the cost can land anywhere between $300 and $1,000, depending on the size of the home.
  4. HOA fees. Many communities have a homeowners’ association that enforces monthly fees. This money is used for general maintenance and updates to areas like pools, parks, and more. Typical HOA fees are around $200 per month.
  5. Taxes. The taxes each buyer pays at the closing table differ, but it is not uncommon for it to be up to two months’ worth of county and city property taxes. Additionally, there may be taxes for the transfer of the home title.

I would be happy to talk with you as you prepare to buy or sell and devise a plan to help you transition as smoothly as possible.

Sincerely,

Marie Dinsmore

The Dinsmore Team

Experience, Passion, and Commitment to Excellence

Feeling Grateful

Despite such a challenging year of 2020, with the Pandemic, low inventory of homes, etc. we are very honored to have been among those achieving the Circle of Excellence Award from the 400 North Board of Realtors.

While it’s an honor and I’m very grateful to receive these accolades, honors, and awards, it’s not necessarily my goal that I set out to achieve each year. My goals are to give my clients the best possible service possible, whether it is to help them list, stage, and get the best price for their home or to find them their perfect new home.  My passion is helping people.  As a result, by providing this high level of service, I have many repeat clients as well as referrals of friends and family over my 19-year real estate career.  For this, I am truly grateful for their trust and confidence.

One of the other ways I service my clients is my knowledge of the market.  I ensure I am well versed in all matters of real estate.  As a realtor, we are tasked each year to accomplish so many education units.  I typically go beyond what is required.  I have been certified in negotiating, probate, distressed property, luxury home market, iRep Pro, etc.  So, please know whatever someone’s real estate needs are, I will always do my very best to deliver the ultimate service experience.

For a list of certifications and awards, please see our ‘About’ page.

In Appreciation,

Marie Dinsmore

The Dinsmore Team

Experience, Passion, and Commitment to Excellence

Getting Ready to List

When you’re getting ready to list your home, it’s of the utmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top four recommended projects to do before listing your home.

Repaint walls.

Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure to cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.

Repair or replace floors.

Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing it. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!

Refresh the landscaping.

Show buyers your home is the full package by dressing up the outside as well as the inside. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges, and trees, install outdoor décor pieces and fill in mulch and gravel. Some potential buyer won’t even come inside if they don’t like what they see outside.

Fix your fixtures.

Leaky faucet? Rusted drains? Loose drawer handles? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment

I have a complete checklist that I go over with my potential sellers.  Give me a call and let’s go over where to start.

Marie Dinsmore

RE/MAX Around Atlanta

Experience, Passion, and Commitment to Excellence

Why Now Might be the Best Time to Sell Your Home

Trying to decide when is the best time to sell your home can be tricky, but also is determining the final profit on your home.

Here is some information to help you make that decision.

  • Home prices are trending upward. According to Georgia Realtors, home prices from 2018 to 2019 increased by 3%. Prices are looking to trend even higher for 2020. That is good news for the seller, but if you are also buying, it’s another consideration.
  • Housing markets are low. When the housing inventory is low, buyers tend to contemplate all options in the market area and make quick offers. This is good news for sellers because it often leads to bidding wars in attempts from buyers to get the best house in the area.
  • Homes are spending less time on the market. As with inventory being low, buyers are acting fast. The average time on the market in 2019 was 56 days. That was a 5% decrease over the previous year’s statistics.

So, are you still trying to decide when is the best time to sell?  Still wondering what your final profit might be? We can help with that. We are now iRep certified.  What does that mean? We can test the market for you without doing a formal traditional listing. We can help you receive cash offers on your home and a retail market valuation in 48 hours. Then you can decide whether or not to accept the offers or go the traditional route of selling your home.

The time is right. All the pieces are falling into place. With increased housing costs, lower inventory, and fewer days on the market, now is the best time to sell a home.  Let the Dinsmore Team help you through the process.