How to Keep Your Real Estate Resolutions
Want to visit the gym more? Finally complete the home improvement project you’ve been working on? Save money for that new watch/car/house/vacation? January 1 is the perfect time to jump start your goals. If you’re like most people, according to Money Magazine, you probably have “stay fit,” “spend less,” or “enjoy the most out of life” on your list of New Year’s resolutions.
Did a few real estate goals make it on your list, too? You’re not alone. Here are a few of the most popular home-buying or home-selling goals, and a few tips on how to achieve them.
Buy Your First Home
You’re ready to take that first step to home ownership in the New Year. You likely already have an area or neighborhood in mind, and you have a few features that you’d like in your new home.
How to keep it: Buying a home is a major project. It may be easier for you to achieve this goal if you set smaller, more manageable goals, such as putting aside money every month for a down payment, reviewing your budget, and researching reputable lenders.
Make Extra Payments on Your Mortgage
If you currently own a home, you might be trying to pay it off quickly, knowing that paying even a fraction of your mortgage ahead of time can cut out a few years (and hundreds of dollars in interest). You might have even taken some time to determine how much you could feasibly pay extra every month.
How to keep it: Don’t feel like you need to make dramatic changes to your monthly payments. Instead, save up just a few dollars a week to put aside toward your mortgage.
Put Your Home on the Market
You’ve decided that 2017 is the year to sell your home. Maybe you’ve started getting rid of household items you no longer need, or maybe you’ve started making a few small home improvements. This is a great first step to achieving your real estate goals.
How to keep it: Forbes shared the secret to keeping New Year’s resolutions, and one of the top tips is to make your goals specific. If you want to sell your home for a high price, for instance, determine what amount you want for your home. Start researching which homes near you have recently sold to get an idea of market conditions and what prices are realistic. Just ask us for a Neighborhood Sold Report or a free home evaluation.
Invest in Your First Property
Have you been thinking about investing in real estate to make extra money? Because this type of investment requires a little more real estate and financial knowledge, you might have already started doing a little research before you begin. Knowing common terms, understanding the basics of investing, and having a good handle on your finances can save you time and effort down the road.
How to keep it: Maintain detailed records of your finances. Do your research. Give yourself a deadline to have your down payment and cash reserves (if you don’t have the cash to buy the property outright). Determine how much money you want to make. Then, set aside the time to meet with a real estate agent to talk about your goals and which properties would be best for you.
We’ll Help You Achieve Your New Year’s Goals
Whether you’re buying or selling a home in 2017, we, at The Bouma Group, will do everything we can to help you with your real estate resolutions. You can take the first steps now by viewing the resources available on our website, or you can contact us directly at 734-761-3060 or email info@bouma.com to talk about your plans.
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