Tips For Home Buyers And Sellers

Associate broker Joan Tutt, owner of Seashell Real Estate, listed her top five tips for home buyers and sellers:

Top 5 Things to Know When BUYING a Home1. Location, Location, Location. Check the home’s proximity to employment, schools, places of worship, hospitals, loved ones, entertainment, beaches and parks, for example

2. Resale Value. Check the values of surrounding properties and make sure they are comparable. Also, find out how long homes in that location stay on the market before selling. Finally, know your zoning and what the property can legally accommodate.

3. Taxes. Know what the taxes are and where they go, whether you’re buying a primary or secondary home. Different locations have different tax bases and related obligations. If you are obtaining a mortgage, the taxes are figured into what you can afford to pay monthly for the home. Therefore, the taxes directly affect your purchasing power.

4. Condition of house/property. Hire an engineer or home inspector to check the house from top to bottom. Study the roof—how old is it, and when will it need to be replaced? Check the foundation—are there cracks or water seepage? Also check the furnace, hot water heater and windows. Finally, observe how the house sits on the property: Does land fall away or come toward the house? Ideally, the land should be pitched away from the home so water runs away from it.

5. Homeowners associations or historic districts. If the house is in a homeowners’ association, you’ll be paying a monthly bill, and there are restrictions on what you can do with your property. Historic districts, which are set by municipalities, often have stringent rules about what can or cannot be done with properties, especially the home’s exterior.

Top 5 Things to Do When SELLING a Home

1. Consider whether you’ve made improvements without a building permit. Certain home improvements require that you apply for a building permit. And as the value of your home increases, so do your taxes. Without permits, you may have to deal with costly legal ramifications before a sale can proceed.

2. Home inspections. Get a professional to do an updated survey of the house. This way you know what needs to be worked on or improved—for example, updating smoke alarms and carbon monoxide detectors.

3. Get an updated certificate of occupancy. This will give you one less thing to worry about at closing. Most buyers markets will want one, because banks typically require a C of O for a mortgage.

4. Mind the aesthetics. Cleanliness goes a long way. Put a fresh coat of paint on your front door, wash your windows, and de-clutter the inside and outside of your home.

5. Remove as much personal decor as possible. Personal items can put off prospective home buyers, because they will make it harder for potential buyers to imagine themselves living in the home. Leave only a handful of family photos, and remove religious or political items to avoid offending anyone who may not share your beliefs.