Boston Property Management: How a Baby Boomer can sell a home to a Millennial

 

Boston Property Management

Boston Property Management: How a Baby Boomer can sell a home to a Millennial

It is a trend for Baby Boomers to leave their suburban homes and move into the city. Interesting enough, Millennials are now leaving the city to go and move into suburban areas. They moved there because they get more space and it’s far from the noisy city. Not only do they get to enjoy their lives but they also get a great deal of outdoor space. So, if you are a baby boomer who wants to sell, you will be able to appeal to the millennial generation.

Busy Schedules

The biggest factor to remember is that the millennials are busy people and work long hours. They prefer to spend their spare time with their family and friends. Therefore, they want to go for homes which allow them to move in easily and not have to spend much time working on renovating it. They just need a place where they can live comfortable lives with the minimal effort.

Touchy/Picky

Millennial home buyers tend to be very picky when it comes to buying a home. They like to check their homes out online before they buy them. Therefore, you must invest in a good agent and a photographer, so your home is presented well. A good photo shoot means that you will have some good contenders. So, don’t compromise on that and spend money on a photo shoot.

Boston Property Management: Big homes 

Back in the day homes were huge and there was a lot of space inside for everyone. Home owners had huge closets, large basements, big closets and loads of rooms. These days’ millennials want simpler homes as they don’t have the strength to maintain them. A bigger home means that they must spend a lot of time on maintenance. Therefore, if you have a big home, you must make it match the market price.

Location, Location, Location

The most important factor is the location. So, if you have a home which is in the suburbs but still gives an urban experience, then you are in luck. A home which is near the local market or at least the train station, will make your home quite attractive. It might not help you if your home is far away from town and is quite secluded. You might still get a buyer but you might have to adjust your price to meet the market.

So, in the end if you want to sell to a millennial, then you need to adjust your thinking to match theirs. You might get your home sold and not have to spend a lot of time on the market.

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Property Manager MA: How to Budget for a move from an Apartment to a House

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Property Manager MA: How to Budget for a move from an Apartment to a House

There are several costs you must pay for when you move to a new place. These are the costs which will never be a factor for the lender but you know you should pay for it eventually. These are costs which you will incur some way or the other.

Home Improvements

When you are in the process of buying your home, you will know if you want to make some home improvements. They are important as you might want to add your own touch to the home or you just see some room for improvement. If you have the funds and you can afford it, you can make the improvements the way you want it. Even if you buy a fixer-upper, you should still add some money for improvements as you may want the home to look different.

 Moving

You will need a considerable budget for moving as you will want to bring in your belongings to your new home. Do get all the right quotes before you move or at least plan everything for yourself so you can do it yourself. You know that the more stuff you have, the more you must pay for it. Do remember that if you have a new home, you probably don’t want to bring in old furniture. Try and save enough money so you can invest in nicer furniture which is fit for a house. This means that you should spend a good amount of money on it.

Property Manager MA: Time

Time is what you need for everything. Unless you are a millionaire and you don’t need a job, you can afford it. However, if you are working, you need to take time off to go through the whole process. You will require time off to sign documents, move into your home, make improvements. Sometimes you may need to find some extra days and go unpaid for it.

Maintenance

A house can’t do without maintenance from time to time. You must be on the top of things and make sure that you keep repairing everything at home. You will also need to pain it, make sure that everything at home is in working order. If not, then this will lower the value of your home and make it less liveable. So, factor the maintenance costs in for your home.  Don’t forget the utility costs for your home. They are a recurring theme and you must pay a lot more than you did if you lived in an apartment.

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Property Manager MA: Why some won’t go for Home ownership?

 

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Property Manager MA: Why some won’t go for Home ownership?

Owning a home tends to be more affordable in the long term plus you end up owning the home. Yet there are some who make a lot more money because they switched from owning to renting. They managed that by using all down payment money and the money which goes towards mortgages, taxes, insurance etc and investing it in other ventures. They managed to rent and still make a good amount of money.

Experts say that home ownership in the US has been hovering around 65 percent for the past three decades.  Several people are not going for homes as they don’t want to settle down or take a big gamble. It is a hassle finding a place, making the mortgage payments and then having to move again. This also means having to invest more time in selling the place or renting it out to pay off the mortgage. If not, then it means sticking to one place for a long time and having to pay off the mortgage.

Property Manager MA: Low Income 

This is also a problem for people with low-income as they can’t afford the cost of home ownership. Plus, the subsidies which are supposed to help them end up hurting them more than they help. For those people who have lost a job, it makes more sense for them to move to a place where they can get a job instead of relying on savings. They can’t use their savings as it will be a problem for them as they will take a financial hit.

Equity

The key is to stay strong able to get equity in the home, is what makes home ownership ideal. There is no use going for a mortgage if there is no equity in the property faster. Mortgages these days are a problem as they have a lot of interest on it. This means that the homeowner is paying more in interest, than they are paying in equity for the house. It is practically the same as renting a property.

Interest and property taxes can be deducted but only if they are itemizing their deductions. Plus, it only makes more sense in the early years of home ownership as the interest on the mortgage payments are higher. It helps to get some deductions there as the equity is the least.It was easier for people in the past to get mortgages and get equity as they actually lived in the home for the said period.

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Boston Property Management: Neighbors Cooperation to get Home sold

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Boston Property Management: Neighbors Cooperation to get Home sold

When you are getting ready to sell your home, you must also factor in the neighbors. If the neighbor’s home is in good condition, it will help you sell your home. If it’s not in the position, you must face some hurdles selling the home. When someone is looking to buy a home, they look at the neighborhood because that’s where they want to settle. If nearly all the homes in the area are in a bad shape, then it is not a good neighborhood, even if your home is in great shape. If just one or two homes in your area are in bad shape, then there is still a lot of hope, especially if it’s your next-door neighbor.

Maintenance

You may have made a great effort maintain your home, painting it, landscaping it and cleaning it to so that it stands out. You spent all that time and effort to make your home look like a gem. Yet your neighbor’s home is in bad shape as there is no curb appeal and it lacks a good paint job.

This will ruin the impression of your home as the potential buyer will see that. It doesn’t matter how much effort you have made as this will ruin the appearance for you.

Boston Property Management: Preemptive Measures

You can take preemptive measures to make sure it doesn’t happen. If you have good relations with the neighbors, you know it’s the right time to use it with them. So, talk to them and bring up any potential issues so that it may not hinder your home sale process. This means that you can ensure their cooperation when you are about to sell the home.

Also, let them know about the sale in advance so that at least they know what your plans are. You never know how they may assist you or at least cooperate with you. It doesn’t look good when you just spring it upon them and then ask them for their assistance.

The best thing you can do is to offer to help them pay for the improvements. After all this will only help to sell your home faster. You can’t expect them to pay for something which will benefit you. Also remember that they are the ones to decide who they want to work with and how they will make the change. Remember that even though they may be willing to work on your dime, you can’t be bullying them around. Just be patient and let them do their own thing.

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Boston Property Management: First Time Buyer Run through

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Boston Property Management: First Time Buyer Run through

First buyers always tend to be nervous because they need to be prepared for a lot when they get their new home. The most important thing is the property inspection. This is the stage where you check for any problems and then sign off if everything is alright.

First Step

The first-time buyer can’t just go through with it with his eyes closed. For starters, the buyer must receive all the property disclosures and other documentation. It is crucial to go over it so you know you have all the information. It will list any issues and you can use it to ask further questions about the home.  Make the time to come over and inspect what needs to be seen. Don’t rush into it as this will have long term consequences.

Agent

During the inspection, your agent will be there to walk you through it. They are quite used to inspections and will be able to guide you through it easily. They can also inform you on what is more important and what Is not. Basically, they see if the problem is minor or major and which one should be handled by the seller.

Boston Property Management: Listing Agent

Depending on which part of the country you are on, the listing agent will show up during the inspection. A good agent will be there to address any issues and will be the eyes and ears of the seller. Any number of questions can come up or it could potentially kill the whole deal or make the property price drop in value. The whole idea is to arrange for a proper sales transaction for everyone.

Since the buyer can make all inspections himself, he must hire a property inspector to check the property. They look at what sort of changes you can do in the property and the costs associated with it. The inspector must also see if the property is worth living in and if there is any damage somewhere.  The thing is that the inspector is impartial and will give an unbiased opinion. In the end, you will get a detailed report on everything. You can also do a walkaround with the inspector who can point everything to you in real time so that you get a better idea.

Once the inspection is done, you must talk to your agent to see what the next step is.

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Property Manager MA: How to get your home Market Ready

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If you have decided that this is the year you want to put your house on the market, then don’t despair. It is not an easy task selling your home, but it is not an impossible task. If you take the time out and plan everything, you can put your home on the market.

Cleaning

Start off with cleaning up your place and getting rid of items you don’t need. Make a list of items you want to donate to charity, items you need to throw away or recycle or items you just need to give away to friends and family. This way the mess will be much easier to clean.

Then start deep cleaning the home as it needs to look as clean as possible. Don’t leave any corner or spot alone as you need to make sure there is no speck of dust. Clean everything from top to bottom and make sure that your windows look clean.

Then go off and clean all your closets, cabinets and drawers. You need to ensure that they are clean and organized. Buyers will always go through them because they will be thinking of storage space. If the storage space is clean, then it will have a good impression on the buyer.

Property Manager MA: DIY Repairs

You can make several DIY repairs or fixes before you open your home to others. Painting the walls, fixing faucets/toilets, replacing burned-out bulbs, repairing walls, fixing windows. Not only will you save but you can do it per your own satisfaction.

Once you are done with the inside of the house, you must focus your energy on the curb appeal of the place. So, start working on it by trimming all bushes and shrubs. Don’t forget to trim the trees so the home looks more appealing. Work on the roof and the gutters to see if there is any gunk there. Don’t let anything be crawling on it. Work on your backyard and replace the soil or at least add mulch if it can make it look better. Remove all stains from the driveway and work on any weeds which may be coming up through the cracks. Once you take out the weeds from the cracks, start working on filling them in. Once you work on your driveway and walkway, then you will be able to make it look good for the potential buyers.

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Property Manager MA: Preparing your garden for the Summer

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Property Manager MA: Preparing your garden for the Summer

Spring is the season before the summer where you get to plan your garden for the summer. It is usually a very short time so you need to be prepared for it.  A good garden also requires a lot of effort and you must spend a lot of time making it happen, unless you can afford the services of a gardener. Maintaining a garden is a full-time job and this means you should spend a lot of time making sure that there are no issues.

If you understand how everything goes then you will be able to plan your garden. This guide takes a look at how you can be rewarded for a long time.

Soil makes a difference

When you are planning your garden, you need to understand the soil type. So, get it tested so that you know what you can grow or if you can replace it. If not, then you can always see how you can make improvements to it.

If the soil needs improvement, then focus on making a compost heap. When you collect all the organic material and let it decompose naturally, you will have some good material for your garden. If you don’t have the time, then you can get composted manure from any store. The soil will get better as it will get a lot of fertility.

Property Manager MA: Trees

You need to know what sort of trees you should plant next to your home. They say that you should never plant something so close to the house as the roots could damage it. Some trees are horrible as they tend to do that and they also overgrow the house. There are some which drop a lot of leaves and seeds. Therefore, you must research to see which one would go well with your house and does not create any unnecessary problems later.

Sunlight

When you buy plants, you must check to see which ones need some shade and which ones thrive on the sun. Too much sunlight can kill a plant, while too little will make it weak. Therefore, you must check to see how much sunshine you get every day. Note down the areas which get shade and which ones don’t. The areas which get the most sunshine are the ones where you can do a fruit/vegetable garden. The ones with part/full shade can be used for other flowers, plants, etc.

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Boston Property Management: Questions to ask Lender

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 Boston Property Management: Questions to ask Lender

Buying a home is quite expensive for people unless they have won the lottery, are rich by birth or don’t need a mortgage. It is literally the biggest purchase of their lives and most will always turn to a lender to finance the purchase of their home. It is not an easy task trying to find a lender you like. Plus, you can’t choose who you want unless you have a good financial record. The best way to get it done is to start off early before you find the home you like.

Remorse

A good number of buyers often face buyer’s remorse when they go with a certain lender. This happens to several first-time buyers more than those who are buying again. Buyer’s remorse happens when the lender does not do its job well.  It can be a lack of communication, not fulfilling promises and pressuring borrower to choose a certain product over another. Therefore, it’s important to start early so that you don’t get rushed into it. When you find a good mortgage lender, who spends time on you and takes care of your needs, then you know you are at the right place.

Boston Property Management: The right lender 

As mentioned earlier, it is important to find the right lender who can make a difference. The best way to do that is to vet them in the beginning. See how they communicate with you and if it’s in a manner which satisfies you. Check to see how they behave when you meet them in person or over the phone. If they take the time out to explain things, you know you are on the right track. You also need to see if they are willing to spend time on you and if they are cool and collected. That sets the tone for the rest of the period when you go through the documents.

Questions to ask

Ask them several questions to see if they are the right fit for you. See what they say when you ask them if you should be buying now. The key here is for the lender to explain the scenario based on your circumstances. So, you will be informed of all your choices once the credit history and finances are taken into notice.

Also, find out how much you need to pay when the deal closes and what the payment options are. This will help you be prepared. It is also important to ask if you can pay points to lower your interest rate. The last question you need to ask is to see who services your loan. This will let you know who owns the loan and who you are accountable to.

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Boston Property Management: Home Projects to tackle before flipping

 Boston Property Management

Boston Property Management: Home Projects to tackle before flipping

Flipping houses is a fine art. If you have been doing it for some time, you will get used to it. There is a lot to do when you want to flip a house. It requires a lot of legwork and effort. You may think it is easy as it looks on TV shows. You need to remember that it requires the effort of going to the house, identifying how you can fix it, and then making a profit on it. Not only that but you have to go through the painful process of bidding for it and then hoping you can get it within the budget you set for yourself. Some people also don’t realize that it needs your full attention otherwise the project will just die.

A good way to get your foot in the market is to start off with your own home. Why not just go for projects you can handle yourself? This will be quite useful for you as you can spruce up your home and learn from trial and error. Not only that but you can also increase the value of your home. These are the projects you should take up.

Paint

When you feel that your home is getting dull, then splash a coat of paint to make it look alive. You can go for colors the way you like it without having to worry about buyers. So ask everyone for suggestions for their rooms while you can paint the common areas to the color of your liking. This is a good way to go with something which makes you happy.

Boston Property Management: Renovate your Kitchen

You should just renovate your kitchen so that you can make it homelier. Get rid of all the Formica cabinets and replace them with nice wooden cabinets. If you have wooden cabinets, polish them or give it a new coat of paint. Replace your countertops with something nicer. You don’t have to spend a lot as you can get some for a good price.

Spend on the little things

Spend money on some good lighting for your home. They will add a lot of value to your home. Add lamps and some big lights for your living room. You should also spend money on some nice faucets which run for a long time. Get those ornate ones which are fancy and have a good flow of water. Go for some brand new doorknobs and polish them before you use it.

Bathroom

Add some new tiles to the bathroom, replace the shower, put up a new shower curtain and go for a new sink. That is the best way to spruce up a bathroom. If you can afford it, then add one of those showers which have an enclosure so water won’t leak.

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Property Manager MA: Winter Proofing your Property

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Property Manager MA: Winter Proofing your Property

Winter is the time which brings everyone together because days end early and people have more time to spend together. It is also the time for the holiday season and people tend to have more get-together. The only downside is that Homeowners tend to go through a bad time in the winter. They have to deal with potential property damage, filing insurance claims or lawsuits for accidents at home. This can also be a busy season for insurance companies. Not only will the premiums go up but you have to deal with the headache of filing claims. Fortunately, there are ways you can reduce your risk.

Property Manager MA: Expensive Claims

When the mercury goes down, it can lead to a lot of expensive claims. This could be anything from the pipes cracking and leading to water leaks, the winter can also lead to wind damage. Sometimes it could also be a lot of hail damage. In some cases, it could be damage to the roof after a snowstorm.

Experts claim that frozen pipes are the most expensive claims, as it takes around $18,000 to replace them. Hail damage hovers around the $10,000 mark. Tree collapses because of storms are damaging as they can affect the structure of the home. They go for around $6,000.Insurance companies have had to deal with huge payouts and have paid billions out.

 Prevention is the best cure

The best way to avoid these mishaps is to be alert and take action before there are huge problems. For starters you can always keep your roof clean before the winter season starts. Clear all the gutters properly so there is no debris or leaves inside. Check the shingles on your roof and replace them as needed. Check your roof for leaks so you don’t have to deal with it later. You don’t want water dripping in after a snowfall. If there is a huge snowstorm don’t wait long to clear your roof. You can always use a long-handled rake or a professional. A heavy load on your roof means it could lead to damage.

Invest money in protecting your pipes so they don’t burst. The best solution is to set it to a warm temperature which is neither low nor high. A good level is 68 degrees so that it doesn’t cost you heavily. Then leave your faucets on at night to a trickle. If you are worried about water loss, then you can always use buckets to collect the water. Do this only when the temperature is below freezing. Insulate the rest of the pipes outside.

 

 

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