Donahue Real Estate Company



Posted by Donahue Real Estate Company on 1/22/2018

Saving money is never an easy task. And saving money for a down payment on a home is especially difficult. Between trying to pay down debt, whether it is student loan or credit card debt, a car loan, insurance, rent, spending money and trying to save for retirement and your emergency fund, how does that leave any money left to save for a down payment? Let’s take a look at a few smart ways to save for a down payment. First things first: how much you are able to spend? This will determine how much you need to save— 20% of the total home cost. Once you have that figured out you can begin to plan what it will take to save that amount. It should be your goal to save 20% or more, although there are ways around that number. Cut expenses: Cutting expenses is one of the ways to start saving more money. First, take a look at the things that you spend money on each month that you don’t necessarily need. Do you buy groceries and then go out to eat 3 or 4 times week? Cutting down to only going out once a week will save you some big bucks at the end of the year. Can you cut down on any of your utilities such as cable and Internet? What about your rent? Could you get roommates to alleviate the cost of rent or move to a lower cost apartment? Invest: Investing your money, smartly, is the quickest way to increase your money and build your down payment amount. Investing, in general, will not make you crazy amounts of money really quickly (unless you’re one of the lucky few) but it does add up faster than money sitting in your savings account or under your bed. Consider opening up a CD, an IRA account (there are restrictions), or investing in the stock market. It will take a couple of years for this to really build, but the returns will be worth the wait. Be sure to read up on the best option for you and keep an eye on the market if you are planning on investing in an IRA account or stocks. Automate Savings: If you have the funds but just aren’t the best saver then the easiest way to save more money is to automate it, either through your work or bank. Automating your savings will make it seem like that money was never there, therefore making it easier to forget about it and keep it in savings. You’d be surprised how quickly your money can add up. Additional Income: If you really want to speed up reaching your savings goal then you may want to consider adding another source of income. There are so many ways to earn more money such as selling your crafts online, blogging, a second job, etc. Saving all of the money you earn will expedite your savings. There are also other sources of income such as a bonus, or tax return that are not a part of your regular income. These types of income should also be saved towards your down payment to reach your goal sooner. If purchasing a home is of utmost importance to you, but you are lacking the down payment then it is extremely important to make saving a priority. As detailed above, there are many ways in which you can accelerate the process of earning and saving more money.





Posted by Donahue Real Estate Company on 1/15/2018

As a home seller, it is important to do everything possible to transform an ordinary kitchen into a comfortable, attractive setting. With an awe-inspiring kitchen, you may be able to differentiate your house from others that are available in a competitive real estate market. Plus, your house's kitchen might even lead some homebuyers to submit offers immediately following a home showing.

Clearly, a top-notch kitchen can make a world of difference when you sell your house. But how can you determine whether a kitchen overhaul is necessary?

Here are three questions to consider before you embark on a kitchen renovation.

1. When do I plan to sell my house?

If you intend to sell your home quickly, you may have limited time at your disposal. Therefore, a complete kitchen overhaul may not be an option.

On the other hand, if you have several weeks or months to plan ahead, it may be worthwhile to evaluate your kitchen and find ways to improve it.

Consider your home selling timeline closely. That way, you can examine various home improvement projects and determine whether a kitchen renovation is a priority.

2. How much money do I have to complete a kitchen renovation?

A kitchen renovation can include everything from simple upgrades to a massive overhaul. As such, the costs associated with a kitchen renovation may vary.

Assess your home improvement budget and plan accordingly. If you have the funds available, you may be able to revamp your entire kitchen. However, if your financial resources are limited, you may need to consider cost-effective measures to enhance your kitchen.

Remember, there are many quick, easy ways to bolster your kitchen. Wiping down the walls and ceiling can help your kitchen dazzle. Meanwhile, repainting the kitchen walls and mopping the floors also provide simple, effective ways to improve your kitchen's appearance without breaking your budget.

3. Is a kitchen renovation worth my time?

A home appraisal may prove to be exceedingly valuable, particularly for home sellers who are on the fence about completing a kitchen renovation.

During a home appraisal, a property inspector will examine your residence and provide a report that highlights your house's strengths and weaknesses. This report can help you establish a price range for your home. In addition, the report may provide you with insights into whether a kitchen renovation may enable you to boost your home's value.

Lastly, if you're still uncertain about a kitchen renovation after a home appraisal, a real estate agent may be able to provide extra support.

A real estate agent understands the ins and outs of selling a home. Thus, he or she can evaluate your residence and help you decide whether a kitchen renovation is worth your time.

When it comes to a kitchen renovation, it is essential for home sellers to examine all of their options. Consider the aforementioned questions, and you should have no trouble determining if a kitchen renovation is right for you.




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Posted by Donahue Real Estate Company on 1/8/2018

While many homes are sold on the basis of emotional appeal or location, there are plenty of other factors which can help tip the scales in your direction. As a home seller, the more advantages and desirable features you can offer to potential buyers, the greater your chances of attracting multiple offers.

If your kitchen and bathrooms haven't been updated for decades, that could easily become a major stumbling block to attracting qualified buyers. Unless their plan is to remodel your kitchen after they buy your home (which is not likely), house hunters are generally not going to look kindly upon old laminate counter tops -- especially those with the ghastly colors from the sixties and seventies! The good news about making your outdated kitchen and home more marketable is that you have the option of resurfacing old countertops rather that completely replacing them.

Although it's generally a good idea to have professionals do this, you can cosmetically improve the appearance of your kitchen countertops by resurfacing them with granite sheets or tile. Resurfacing is also a relatively inexpensive way to help restore aging kitchen cabinets -- another aspect of your home that potential buyers are going to notice.

According to a recent study, quite a few buyers are drawn to features like stainless steel appliances, subway tiles, farmhouse sinks, Shaker cabinets, exposed brick, pendant lights, and quartz countertops. By the way, Quartz does offer some advantages over granite because it's more scratch resistant, maintenance free, and doesn't need to be sealed or polished.

Other features which attract home buyers include energy-efficient windows and appliances, sufficient insulation in attic and elsewhere (many older homes lack this), low-maintenance flooring (not carpeting), roofing that's been replaced within the past decade, finished or semi-finished basements, first-floor/separate laundry rooms, newer hot water heaters (extra points for tankless units), outdoor security lighting, fenced backyards, and dry basements. If you do have issues with excess moisture or leaks in your basement, it may be helpful to install a sump pump, a dehumidifier, French drains, or other dry basement remedies to address those issues before they're brought up by prospective buyers.

While there are certain aspects of your property that can not be changed, such as proximity to neighbors or the school district in which you're located, their are plenty of cost effective ways to improve the appearance and functionality of your home before you try to sell it. To identify problems before they become obstacles, some homeowners hire a property inspector to point out issues. That way, they're not blindsided by unexpected structural, mechanical, electrical, drainage, or energy conservation issues they might not be aware of. In addition to a reputable property inspector, a seasoned real estate agent can also be one of your best advisors when you're ready to put your home on the market.





Posted by Donahue Real Estate Company on 1/1/2018

Want to buy a house? If you plan ahead for the homebuying journey, you may be better equipped than ever before to reap the benefits of a seamless homebuying experience.

Now, let's take a look at three tips to help you prepare for the homebuying journey.

1. Figure Out Where You Want to Live

Do you prefer the hustle and bustle of the big city? Or, would you like to reside in a small town? Think about where you want to live, and you may be able to speed up the homebuying journey.

A homebuyer who narrows his or her search to houses in a set number of cities and towns may be able to quickly discover the ideal residence. Thus, if you know where you want to go, you can act fast to pursue your dream house. And once you find your dream home, it may be only a few weeks before you can finalize a home sale.

2. Obtain a Mortgage

A mortgage generally is a must-have for a homebuyer, regardless of where he or she decides to live. If you submit a mortgage application before you embark on the homebuying journey, you can enter the real estate market with a budget in hand.

Oftentimes, it won't take long to get pre-approved for a mortgage. You can meet with a variety of banks and credit unions, and these financial institutions can teach you about a wide array of mortgage options. Next, you can select a mortgage that satisfies your personal requirements.

When you meet with banks and credit unions, don't hesitate to ask plenty of questions, either. If you receive expert mortgage insights, you can make an informed mortgage decision that likely will serve you well for years to come.

3. Consult with a Real Estate Agent

Let's face it – pursuing a home should be a quick, easy process, but problems may arise that prevent you from buying your ideal residence. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you make your homeownership dreams come true.

A real estate agent is a housing market expert who can teach you how to discover a terrific house at a budget-friendly price. This housing market professional can explain the differences between a buyer's and seller's market and help you map out a successful homebuying journey. That way, you may be able to improve your chances of acquiring a superb residence if you hire a reliable real estate agent.

In addition, a real estate agent will serve as your guide along the homebuying journey. He or she will keep you up to date about new residences that become available, set up home showings and help you submit homebuying proposals. And if you ever have homebuying concerns or questions, a real estate agent is available to respond to them.

Achieve the best-possible results during the homebuying journey – use the aforementioned tips, and you can plan ahead to acquire your ideal residence.




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Posted by Donahue Real Estate Company on 12/25/2017

Before you kick off a home search, it is important to differentiate an ordinary house from a dream residence. That way, you can set realistic goals for your home search and accelerate the process of acquiring a house that matches your expectations.

Ultimately, each homebuyer's definition of a dream home varies. But for homebuyers who want to streamline the search for a dream home, there are several home factors to consider, and these include:

1. The Age and Condition of a Home

Dedicate the necessary time and resources to learn about a home's age and condition – you'll be glad you did. With these home insights, you can determine whether a home will require substantial repairs in the immediate future.

To evaluate a house's age and condition, you should hire a home inspector. This professional will examine a residence both inside and out and search for any structural problems with the property. Then, the home inspector will provide a detailed report that outlines any home issues.

A home inspection offers a valuable learning opportunity, one that can help you determine if a house is right for you. And if a home inspection reveals your dream home is actually a dud, you can always rescind a home offer and reenter the housing market.

2. A Home's Price

Many people want to own large, extravagant mansions. Yet the costs of these properties can be prohibitive, which is why most homebuyers search for houses that fall within a specific price range.

As you prepare to search for your dream home, you should get pre-approved for a mortgage. This will enable you to enter the housing market with a budget in hand and avoid the temptation to spend too much on a house.

Also, it is important to realize that no home is perfect. Although you may search far and wide for a dream house that has all the amenities and features that you want, you'll likely need to make trade-offs to find your ideal residence.

Creating a list of must-haves and wants for your dream home usually is a great idea. This list will enable you to narrow your home search, evaluate properties that fall within your price range and discover your dream home faster than ever before.

3. A Home's Location

Consider where you want to live before you launch a home search. By doing so, you can identify available houses in certain cities and towns and map out your home search accordingly.

Think about what's important to you in terms of home location. For example, if you want a home that's close to your office in the city, you may want to search for residences in or near the city itself. Or, if you want to live close to the beach, you can explore properties that are conveniently nestled along the beachfront.

Lastly, if you need help finding your dream home, you should hire a real estate agent. With a real estate agent at your side, you should have no trouble making your homeownership dreams come true.




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