Date Archives: August 2016

Simplify Your Life.  Save Money Too. Downsizing.

You have worked hard to own your home and care for it. Your kids' birthday parties, backyard barbecues and time spent with family is etched into your home's history. Although the thought of selling a house that you love may be difficult, downsizing can help you live a simpler and happier life. Downsizing is a step forward, not backward. Here are some of the advantages of downsizing to a smaller home.

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Preparation is Key to Selling Your House

Selling a house that you are currently living in certainly adds a few extra challenges to the mix, as you balance keeping your home ready to show with keeping yourself comfortable while you live there. But it's nothing that you can't handle, especially if you start planning ahead of time. The key is to start preparing as soon as you know you'll be putting your home on the market, and if you have a family it really helps to get every family member involved in the preparation. With a bit of elbow grease and an eye for detail, you can keep your home in prime condition without sacrificing (too much) comfort.

Our team at Old Dominion Realty is here to help, with six tips for selling a house that you're currently living in and making it through with your nerves intact.

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Selling Your House? 10 Tips For Hosting an Open House

Preparing for an open house can be a stressful experience, especially if you're selling a house for the first time. Your to-do list is a mile long, you want everything to look perfect, and you can't shake the nagging feeling that you've forgotten something important. Don't worry. Take a breath, collect your thoughts and read on to find 10 steps for a flawless open house from your team at Old Dominion Realty.

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Closets Are Key When Selling Your Home

Closets are one of the key features that buyers pay attention to when they look for a new home. Many potential home buyers are giving as much attention to spacious closets as they do other rooms in the house. In fact, in a survey by the National Association of Realtors, 60 percent of home buyers were willing to pay an extra $1,350 for just one walk-in closet in the master bedroom.

Unfortunately, sellers often do not pay much attention to their closets when preparing their home for sale. What many sellers do not realize is that closet organization plays a critical role in the perception of the overall maintenance of a home. Shoes thrown all over the place, mismatched hangers and a disorganized space can result in a lower sale price when it comes time to sell your home.

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Finding your first place to call home is a thrilling, exciting experience, no matter when you do it. But it can also be a bit nerve-wracking, as you navigate the big decisions of buying a house for the first time. One of the biggest decisions you'll face as a first-time home buyer is whether to shop for a starter home or a forever home. Each option offers its own advantages, so the right choice will come down to your goals, future plans and desired lifestyle.

You don't have to make the choice alone. Your REALTOR® is here to help, and the team at Old Dominion Realty has the tips you need to choose a first home you'll truly love.

Starter or Forever? Helping First-Time Home Buyers Make the Big Decision

Age is just a number, but it often plays a starring role when choosing what type of first home is right for you. First-time home buyers in their late twenties and early thirties tend to have a less extensive credit history, but have established a career that provides the financial stability required to shop for a first home. In the past, that meant most home-buyers in that age range would lock in on starter homes, but today the answer is not so simple.

• Career Stability – Being in the financial position to buy a home shows you know how to save, no matter where your career stands. If you're firmly entrenched in your employment position and don't expect to have to move for work, then a forever home may be the right fit. If your career is less settled, a starter home may be the better option.
• Credit History – Credit can be a challenge for first-time buyers, simply because they haven't had enough time to build up a substantial credit history. If your credit history is brief or needs a bit of repair, a starter home could be the best option for you. Getting pre-approved for a mortgage will give you a good idea of your purchasing power.
• Family Plans – This is a big one, but it's also something that can change very quickly depending on where you are in life. Starter homes tend to be on the smaller side, so if you're planning a family (or already have one), a forever home may be the best fit. You can grow into a starter home, however, especially if you're willing to invest in home improvements.
• Purchasing Power – Simply put, what fits your budget? A forever home doesn't have to break the bank, but it will almost always cost more than a starter home. An honest look at your budget will be a big factor in your decision.
• Lifestyle Fit – Buying any type of home is a big investment, so you want something that will fit your lifestyle. If you're not the type to settle down in one place for too long, then a starter home makes a ton of sense. But if you're big on stability, a forever home becomes an option.
• Future Plans – If you view your home as an investment on which you hope to make a substantial return someday, then a starter home is the way to go. Forever homes tend to be priced closer to the top of the market, limiting return on investment if you choose to sell.

No matter what type of home you plan to buy, there's no substitute for the guidance of an experienced REALTOR for first-time home buyers. Contact Old Dominion Realty for everything you need to find the perfect first home in Virginia.