Do You Need a Home Selling Budget?

A home selling budget may prove to be exceedingly valuable. With this budget in hand, an individual will know approximately how much money that he or she will need to complete the home selling journey.

Now, let’s take a look at three expenses to include in a home selling budget.

1. Home Cleaning

If you want to impress buyers, you likely will need to maintain a neat, tidy home interior. As such, you may want to account for cleaning supplies in your house selling budget.

Of course, you may choose to hire a home cleaning company. And in this scenario, you should consider how frequently you want this company to clean your house.

Regardless of whether you choose to purchase cleaning supplies so you can clean your house on your own or hire a home cleaning company, you should shop around. That way, you can evaluate the costs associated with different cleaning supplies and home cleaning companies and make the best-possible decision based on your finances.

2. Home Repairs

Repairing a home may be costly, particularly for those who failed to maintain their residences over time. Yet if you consider the home repairs you need to complete, you can incorporate the costs associated with these repairs into your house selling budget.

It may be beneficial to conduct a house inspection prior to listing your home. Once you receive a house inspection report, you can learn about any underlying home problems. You then can assess the costs to perform assorted home repairs.

For those who want to save money on home repairs, you may be able to complete simple property upgrades on your own. If you are unsure about how to perform various home improvements, however, you should hire a professional. Otherwise, if you try to complete these home improvements on your own, you risk making expensive, time-consuming and dangerous mistakes.

3. Packing and Moving

After you sell your house, you may have only a short amount of time to pack up your belongings and relocate to a new address. Meanwhile, if you account for your potential packing and moving costs, you can ensure that you will have the funds available to cover these expenses when you are ready to relocate.

In some instances, home sellers pick up packing supplies early in the property selling journey. This ensures a seller won’t have to worry about rushing to purchase packing supplies as moving day approaches.

You may want to reach out to local moving companies for quotes, too. And when you finally sell your home, you can finalize plans with an affordable, convenient moving company that you have already vetted.

Lastly, selling a house can be challenging, but a real estate agent can help. If you hire a real estate agent, you can receive plenty of assistance as you craft a home selling budget. Perhaps best of all, a real estate agent will do whatever it takes to help you enjoy a fast, profitable house selling experience.

Open house on 12/7/2019 at 4 High Ware, MA 01082


Date: 12/07/2019 Time: 1:30 PM to 2:30 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Adorable Newly Renovated 2 Bedroom Single Family house in the beautiful Historic Church Street area of Ware, close to shopping, amenities & Grenville Park. Gleaming Hardwood Floors in Living Room, Dining Room, Bedrooms and Bonus Room. Gorgeous new Kitchen with Stainless Steel Appliances, butcher block countertop and double sink. Newly renovated Bathroom with granite topped vanity. Laundry hook ups on first floor. Master Bedroom is spacious with TWO large closets. Bonus Room area on second floor could be office space, play area or reading nook. All new Led lighting throughout. Freshly painted. Heat is forced hot air by propane. Off Street parking. First, last and security. Pets with restrictions. Available immediately.

How to Determine Your Lending Eligibility for an FHA Loan

FHA loans have long been a valuable resource for Americans who want to fulfill their goal of homeownership but who don’t have the benefit of a lengthy credit history and equity.

If you’re hoping to buy a home in the near future but want to explore all of your options in terms of financing, this article is for you.

Today we’re going to talk about FHA loans and how to know if you qualify for one.

What are FHA loans?

FHA loans are issued by private mortgage lenders across the country, just like regular mortgages. The difference, however, is that an FHA loan is “guaranteed” by the federal government.

Lenders decide your borrowing eligibility, and how much you can borrow, by determining risk. If you don’t have a sizable down payment (oftentimes 20% or more) and you have a low credit score, most mortgage lenders will see you as a risky person to lend to.

When you get an FHA loan, however, the federal government assumes some of that risk, allowing you to secure the loan anyway.

This means you can buy a home with a low credit score, a smaller than usual down payment, and save on some closing costs.

How do I qualify for an FHA Loan?

To find out if you qualify for an FHA loan, you’ll head to the same place as a traditional mortgage–a mortgage lender. Oftentimes, you can simply call or visit the website of lenders to get the process started.

As with all things, it’s a good idea to shop around for a mortgage lender. Their offerings will be largely similar, but there might be minor differences that make one better than another for your particular circumstances.

Down payment requirements

To secure an FHA loan, you will need to make a down payment of at least 3.5%. However, this low down payment comes with a price. You’ll typically be required to pay private mortgage insurance (PMI) fees on top of your accruing interest for your loan.

Credit score requirements

While you can often secure a mortgage with a lower credit score through an FHA loan, there are still some requirements. To secure a loan with the lowest possible down payment (3.5%), you’ll need a credit score of 580 or above.

Previous homeowners and FHA loans

A common misconception about FHA loans is that they are only for first-time homeowners. However, you can still qualify for an FHA loan if you’ve owned a home before as long as it has been three years since you’ve had a foreclosure or two years since filing for bankruptcy.

If you meet these three conditions, you should be able to secure an FHA loan through a traditional mortgage lender.