When your home is on the market, lenders typically want to see a current appraisal—but for many homeowners, that’s a nail-biting, edge-of-your-seat experience.
While we all know our own homes, what will an appraiser see when he or she walks in? How will the appraiser judge its appearance, state of repair, and value?
The good news: if you’re prepared for the appraiser, you don’t need to lose any sleep.
But how do you ensure your home is ready for an appraisal?

How to Ensure Your Home is Ready for an Appraisal

Double-check all the maintenance around your home. Is there chipped paint? A stain on the carpet that you’ve covered with a rug? A loose tile in the bathroom?
The appraiser is going to look at how well your home is maintained, and everything that could use some work is going to chisel away at the value.
Other things to check:

• Make sure appliances are in good, working order
• Trim bushes and clean up flower beds
• Find and repair cracks in sidewalks and driveways
• Tidy up your yard
• Repair damaged or loose fence slats
• Check the roof for loose shingles
• Check your gutters for blockage, bowing or other damage

Does Cost = Value?

Cost doesn’t equal value.
What that means is that if you spent thousands of dollars on a master bath makeover, you may not recoup it all when you put your house on the market.
(It’s always a good idea to think about resale value when you’re making home improvements, and if you’re not sure—or if you’re thinking about making improvements just to sell—talk to your Realtor® to be certain you’re making the right choice.)

Are You Selling Your Home in Port Aransas or North Padre Island?

If you’re selling your home, we’d love to help you do so quickly and at the right price. We’ll be happy to give you a free comparative market analysis so you know exactly how much your home is worth. While you’re here, you can also download our free home-selling eBook and read our useful tips for selling your home faster.
When you’re ready, call us at 361-563-7788 or contact us online to find out how we can help you sell your home in Port Aransas or North Padre Island.
 
 

Filed under: Appraisal, Blog, How-To, Selling by Julie Woodward
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If you’re buying a home, you already know that it costs money.
But what are the costs of owning a home that go beyond the mortgage? If you’re a first-time buyer, here’s what you need to know.

Beyond the Down Payment

For most home purchases, buyers need to come up with the standard 20 percent down payment (unless you’re using a VA loan, which doesn’t require a down payment at all, or some types of FHA loans).
Other than your monthly mortgage payment, which begins shortly after you move in, you’ll have to think about furniture, décor, and in some cases, appliances. The
These things really add up… and unfortunately, there’s more to come.

Real Estate Taxes

Your home’s value is the biggest factor in the amount of taxes you’ll have to pay. In many cases, mortgage lenders final real estate taxes into monthly mortgage payments—and that can be a big bonus for you because your taxes will be paid on time, and it’s one less thing to worry about.

Homeowners Insurance

You’ll most likely have to purchase homeowners insurance, which protects you against issues such as fire, theft, and other disasters. However, as with other types of insurance, you’ll most likely be required to pay a deductible if something happens; that means it’s a good idea to set aside a stash of cash for an emergency.

Homeowners Association Dues

Some neighborhoods and subdivisions charge homeowners a monthly or annual fee to care for the sidewalks, landscaping, and other amenities. Nearly all condominium complexes charge HOA dues, as well.

Home Maintenance

If possible, you may want to purchase a home warranty that will cover defects and issues. If not, remember the everything in your home has a life expectancy—including appliances, fencing, and other components.
Most experts suggest that you budget between 1 and 2 percent of your home’s purchase price to put toward annual upkeep.

Are You Buying a Home in Port Aransas?

Whether you’re looking for a home for sale in Port Aransas orNorth Padre Island, we’d love to help you find the perfect place to live.
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll start searching right away.
In the meantime, check out our:

• All-in-one mortgage calculator
• Free homebuyer handbook
• Free eBooks about buying a home (and more)

Filed under: Blog, Buying, Financing, First-Time Buyers by Julie Woodward
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