MaryAnne Sannicandro's Blog
472 Central St, Holliston, MA 01746
When you’re buying a home, there’s a lot to think about. Your finances probably have the biggest impact in the entire home search process. The amount of a down payment you have and the amount of loan you’re approved for help decide what you can buy.
When you hear about closing costs, what do they entail? How much will you need to cover these costs? Many people get to the closing table for their home purchase and feel unprepared. You’ll need a certain amount of cash on hand when you finally close on a home. Learn more about closing costs, so that you understand everything that you need to know about your home purchase.
Closing costs are spelled out pretty plainly in just about every kind of real estate contract. These costs are the fees associated with the title companies, attorney, banks, lenders and everyone else who is involved in the purchase of a home. The closing table is also the time when you provide your sizable down payment. The closing costs that are being referred to are considered a separate expense independent of the closing costs.
Closing Costs Vary
Closing costs can range from anywhere between 2 and 8 percent of the purchase price of the home. You can’t really “choose” what’s included in the closing, so you’ll need to have an idea of how much money you’ll need to write a check for. Lenders can give you an estimate of about how much closing costs will be.
Certain things like the realtor’s commission fees can be negotiated and can be paid for by the buyer or the seller. The good news is that you can roll your closing fees in with your mortgage in some cases. You may also be able to negotiate with your lender to pay the closing costs for you in exchange for a higher interest rate.
What’s Included In Closing Costs?
Depending upon where and what type of home you’re buying, what the closing costs actually cover varies. Here’s just some of the things that closing costs cover:
- Escrow fees
- Credit reports
- Title search
- Title exam fee
- Survey fee
- Courier fee (Most transactions are done electronically, but in some cases this may be necessary)
- Title insurance
- Owner’s title insurance
- Natural hazards disclosure
- Homeowner’s insurance (Your first year of insurance is often paid at closing)
- Buyer’s attorney fee
- Lender’s attorney fee
- Transfer taxes
- Recording fees
- Processing fees
- Underwriting fee
- Pre-paid interest
- Pest inspections
- Homeowner's association transfer fees
- Special assessments
These fees vary widely by state and the type of property that you’re purchasing. Not every fee is required, but the above is just a list of many of the possible fees that could be included in on the closing of the home you choose.
Setting the moodAre you the type of person who works best in a well-lit room or do the lights need to be slightly dimmed? Depending on your preferences, you might want to choose a room that receives a lot of sunlight or convert part of your basement to an office. When it comes to wall and furniture colors, studies have shown that different colors can affect our mood. Depending on the atmosphere you're going for, you might choose white, light grey, or light blue wall colors. Bold colors will probably be too distracting and bright red colors can even be anxiety inducing. Try building a color palette online and deciding which color combinations you would enjoy for the walls of your office.
Avoiding distractionsYou want your office to be sparsely decorated and free of distractions like games, phones, food, etc. However, for some people an empty room is even more distracting than a cluttered one. A good way to fill up the room without adding distractions is to incorporate plants and simple artwork. When choosing plants for your office, consider the amount of sunlight the room receives. It's possible to incorporate plant life without having to worry about moving them to receive sunlight. Similarly, there are cacti, succulents, and terrariums that require little upkeep and watering. You don't want to give yourself excuses for not working by telling yourself you need to water the plants.
Setting up your deskBeing productive is all about having a routine. You want your desk to help you stick to that routine. That means it should have everything you need to work and little, if anything, else. Aside from encouraging you to focus on your work, having a cluttered desk can also make it difficult to find what you need like a lost pen or a certain important piece of paper. Once you have your desk set up with what you need, be it a laptop, power cord, lamp, etc., then it's your job to keep it that way and avoid any rubbish from building up.
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Selling your home can be an uphill climb, particularly for those who fail to devote the necessary time and resources to enhance their kitchen.
The kitchen serves as a central meeting place in any home, regardless of size. As such, home sellers will want to do everything they can to create a warm, inviting kitchen atmosphere that helps make their residence attractive to homebuyers.
Ready to transform an ordinary kitchen into one that homebuyers won't soon forget? Here are three kitchen remodeling tips that every home seller needs to know.
1. Consider All of Your Lighting Options.
Pendant lights represent wonderful additions in a kitchen because they make it easy to brighten up the entire space. Plus, these lights are both stylish and practical and may prove to be a viable option in your kitchen for an extended period of time.
Furthermore, under-cabinet lighting offers outstanding value, especially for those who want their kitchen to stand out to homebuyers.
As a home seller, you'll want to do everything you can to impress homebuyers whenever they visit your residence. And with small, inexpensive under-cabinet lights, your kitchen may be better equipped to make a long-lasting impression on homebuyers.
2. Don't Break the Bank to Revamp Your Kitchen Floors.
Over the years, your kitchen floors may have suffered scratches and dings that you'll want to eliminate as soon as possible. Although your kitchen floors may be an eyesore, you won't necessarily need to break the bank to enhance their appearance.
For example, if you have wood floors in your kitchen, you may be able to refinish them rather than having to commit substantial time and resources to replace them. Refinishing wood floors may allow you to make them appear as good as new, and the time and money you save by choosing floor refinishing over floor replacement could be invested in other home repair projects as well.
Also, if you have tile or vinyl kitchen floors, you may want to consider sealed cork in the future. Sealed cork boasts a distinct look and feel and will maintain its appearance for years to come, making it a stunning and cost-effective kitchen floor replacement option.
3. Consult with a Real Estate Agent.
Improving your kitchen can be exceedingly difficult for any home seller, at any time. Lucky for you, real estate agents are available who understand what it takes to revamp a kitchen's appearance in no time at all.
Hiring a real estate agent may prove to be a great choice. This professional will help you evaluate your kitchen and ensure you can complete the right repairs to enhance its appearance. Moreover, your real estate agent will make it simple to establish priorities so you'll be able to allocate time and resources to the right kitchen repair projects.
When it comes to enhancing your kitchen, why should you be forced to leave anything to chance? Instead, work with a friendly, experienced real estate agent, and you can streamline the process of transforming your kitchen into an asset that helps your house stand out to homebuyers.