Real Estate Information Archive

If you have been out house hunting, you may have noticed some for-sale signs with “sale pending” badges on them. What does it mean when a sale is pending?

Here is what you need to know about a pending home sale:

A home sale is pending after a seller has accepted an offer and the contract between the seller and the buyer has been signed. 

When the home sale is pending, it’s no longer considered active on the multiple listing service (MLS). The timeframe in which the deal is pending varies depending upon where you live. In some places, it is during the due diligence period when a property is inspected, and its public record is checked to be sure there are not any legal issues. In other areas, the pending phase starts after the due diligence phase. Either way, pending home sales are considered a key indicator of market activity.

Due Diligence: In real estate, the period known as due diligence is an opportunity for you, the buyer-investor, to receive full disclosure of the facts and conditions of a potential asset prior to completing a transaction with the seller.

Once a sale is pending, the buyer needs to start preparing for the closing. The best way for the buyer to do this is to make sure the necessary professionals are on hand, including the mortgage lender, title insurance company, Realtor, and inspector. A real estate attorney is also good to have to help complete all legal documentation prior to closing. In most markets, the due diligence period starts once the contract is signed and lasts about 10 days. During this time, the formal application for the loan is submitted to the lender, and appraiser researches the house and area to determine the property’s market value. The attorney will comb through the home’s public documents to make sure there is nothing that could affect sale of the home. This period is also the right time for the buyer to closely examine the details of the house and the transaction to make sure there are no deal breakers.  If both parties are ready to move forward and have agreed to waive the contingencies regarding inspection or appraisal, all that’s left to do is to wait until closing day.

The seller can relax a little more than the buyer while the sale is pending.

After the contract is signed, the seller pretty much just has to wait. The listing agent typically will schedule the inspection, appraisal or any other visits to the property, but the seller might need to be around to allow people in or to be present for the inspection. However, in some cases, the seller may decide not to be present for any of it. 

It is important to note that once the contract has been signed, the seller cannot back out of the deal, while the buyer is legally allowed to cancel the contract.  But, when negotiation takes place regarding issues found during the due diligence period, the seller can decide what to say yes to.  For example, the seller can choose not to make repairs on things that surfaced during the inspection, or they can refuse to accept a lower price if the property appraises for lower than the sale price. The whole deal can fall apart if the negotiation does not go well, so it’s vital to have a Realtor who will help you through the process whether you are buying or selling.

The last step during the pending sale period is for the seller to move out of the home and leave it in good condition. It is a good idea to leave the home as clean as possible. The buyers will do a final walk-through a couple of days prior to closing. If the closing goes smoothly, the seller will finally be able to slap that sold sticker on the “For Sale” sign!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information.

Whether you are looking to purchase a home or getting ready to sell one, the process of doing so will go much more smoothly if you have an experienced Realtor to represent your interests. You might be thinking that you can save money by trying to do it on your own, but the truth is that the time, energy and stress a Realtor will save you is priceless!

Here are the top five reasons why you should hire a Realtor when buying or selling a house:

1. EXPERTISE

Experienced real estate professionals will know all the ins and outs of buying and selling homes. Real estate has a language of its own, and Realtors will speak it fluently. They are not only familiar with all the forms, reports and disclosures involved, they understand them and can explain them to you. They will work to get you the best deal possible and help you avoid costly mistakes.

2. ACCESS

Realtors can search listings that the public does not have access to. They will know immediately when a house goes on the market; long before you can find it on the internet. Local Realtors will also have expansive knowledge about different neighborhoods and areas that may appeal to you.

3. NEGOTIATION

Realtors are trained negotiators. It is their job to get you a first-rate deal. With fierce competition for homes and the chance of a bidding war, you are going to want a shrewd and experienced negotiator on your side.

4. CONNECTIONS

They know who’s who in every aspect of a real estate transaction. They can hook you up with a mortgage lender, home inspector, real estate attorney, home stager, etc. And since the best deal for you benefits them as well, they are going to make sure to recommend the top people in their professions.

5. TIME

While searching for a new house, or getting one ready to sell, chances are you’re still working full time, taking care of a family and feeling a little stressed about everything you need to do. Slow down, take a deep breath and let your Realtor alleviate that stress a bit. Being a Realtor is a full-time job that you don’t need to add to your to-do list. 

The bottom line is, you probably can buy or sell a home on your own, but that doesn’t mean you should. Hiring an experienced professional like Sandra Nickel will make your home-buying/selling experience less stressful and more successful. 

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information! 

House hunting can be overwhelming sometimes, especially when beginning the search for your first home. Chances are you might get caught up in the process and important details might slip by you. While the number of rooms, condition of the kitchen, and size of the yard are important, there are other things to consider before you make an offer. This list of things to look for can help get your search off to the right start.

LOCATION

They say that the 3 most important things to look for when buying a home are location, location, location. While a home might not be perfect, loving your neighborhood and neighbors can make all the difference in living with imperfection. And face it…you can change almost anything about your house, but you can’t change its location or the people living nearby. When you go house hunting, make sure to consider the home’s proximity to your work, the appeal of the neighborhood, where in the neighborhood the home is situated, ease of access, noise from neighbors, traffic, pets and access to parks, shopping, schools and public transportation.

HOME PLACEMENT

Beyond location, look at how the home is situated.  If the home is on a hill, does it have a view, a walkout basement, or lots of stairs to climb? Do neighbors' windows look directly into the home? Is the yard suitable for kids, pets, gardening, or other uses? Is there safe access to the home? These are all important questions to ask yourself when determining if it is the right property for you.

CHECK OUT THE NEIGHBORHOOD

While it’s important for your house to meet your expectations, it’s equally important that the neighborhood meets them too. Take a drive around the development you are interested in on weekdays and weekends, during the day and in the evening.  Are the homes in good repair? Are yards kept clean and tidy?  Is the neighborhood safe enough for people to walk, run or bike?  Are there children playing outdoors?

CONSIDER A HOME’S CURB APPEAL

You want a home that is going to reflect your lifestyle. Do you live a casual, laid-back life? Then you probably won’t want a formal Victorian or Tudor style home.  A simple, contemporary home might better suit you.  Pay close attention to exterior features.  Think about maintenance.  For example, a brick home is easier to maintain than one with siding.  Do you like working in the yard?  If not, you might not want a house with extensive landscaping.  Is the roof in good condition?  Attention to detail will help you choose the home with the best curb appeal for you.

SIZE AND FLOOR PLAN

You may be thinking about buying your dream home. But is your dream home practical?  Do you need 4 bedrooms and 4 baths when you live alone? A spacious home may provide the extra room you've always wanted for a home office or a theater room, but you'll pay higher heating bills and have higher taxes. Additionally, it will take more furniture to furnish and money to decorate. Think about how the new home space will be used and whether it will fit your lifestyle now and in the future.

BEDROOMS AND BATHROOMS

Decide how many bedrooms and bathrooms you will need and only look at homes that meet those criteria.  You don’t want to fall in love with what is otherwise a perfect house if it doesn’t provide the space needed for your family.  It’s smart to consider counting an extra bedroom in that number so that you have extra space for a home office or guest room. If you think you might add on to the home later, make sure you consult an architect who can advise you on space planning and regulations.

THE KITCHEN

For many people, the kitchen is the heart of the home. Don’t settle for a home with a kitchen that doesn’t work for you.  Yes, you can remodel it later, but at great expense.  If it’s an easy fix like replacing cabinets or countertops, get a price quote before committing to the house so that you will know if it is within your budget to take that on.

CLOSETS AND STORAGE

Older homes often have small closets and lack storage space.  As you’re looking at a home ask yourself where you will store your belongings.  Tiny closets don’t have to be a deal breaker.  There are ways to maximize storage without renovations. Newer homes tend to have lots of storage, and you may sacrifice living space while having more closet space than you need.

WINDOWS AND LIGHTING

While looking at a home keep in mind your preferences regarding light and privacy. Do you want a lot of windows to provide bright, sunny rooms?  Pay attention to the locations of electrical outlets and fixtures to make sure they meet your lighting needs.       

FINISHING TOUCHES

Even a simple home can look spectacular with the right moldings, hardware, and a fireplace.  If elements like these are important to you, look for them while house hunting. 

You may not find everything you want in one house but keep this list handy and you are more likely to find the home that best suits your needs and desires.  Happy House Hunting!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information.

Perhaps you have been thinking about purchasing a home, but you are not sure how much you need for a down payment. Many people will tell you that you need to have 20% to secure a mortgage. Thanks to various programs available to buyers, the truth is that’s not always the case. In fact, if you are a military veteran you could qualify for a Veterans Affairs Home Loan and not need a down payment at all! While these programs may mean that you do not have to save as much and you can get into a home sooner, there are some major benefits to making a 20% down payment if you can:

1. YOU MAY QUALIFY FOR A LOWER INTEREST RATE

Putting 20% down vs a 3-5% down payment gives your lender/bank the confidence that you are financially stable and a good credit risk. With this confidence, they will be willing to give you a lower interest rate on your mortgage loan.

2. YOU WILL PAY LESS OVER THE LONG RUN

With a bigger down payment, you will have a lower loan amount for your mortgage. That means you will be paying less interest. For example, if you make a 20% down payment, you will only pay interest on the remaining 80% of the loan. If you put only 5% down, the extra 15% on your loan will accrue interest and you will pay more over the long run.

3. YOU WILL BE MORE APPEALING TO SELLERS

Chances are, you will be competing with other buyers for the same home. Like the mortgage lender/bank, sellers feel more confident in buyers who are making 20% or larger down payment. They will see you as a buyer who’s financing is more likely to be approved, thus ensuring the sale will go through.

4. YOU WILL SAVE MONEY BY NOT HAVING TO PURCHASE PRIVATE MORTGAGE INSURANCE

Private Mortgage Insurance (PMI) is an insurance policy that protects the lender if you are unable to pay your mortgage. It comes to you in the form of a monthly fee included in your mortgage payment. It is required for all conforming, conventional loans that have down payments of less than 20%. If you make a down payment of 20% or more, this insurance is not required.

5. YOU WILL HAVE LOWER MONTHLY PAYMENTS

When you make a 20% down payment it will result in smaller mortgage payments. You are starting off with a smaller overall mortgage and saving the expense of PMI, therefore your monthly payments won’t be as high.

6. YOU WILL IMMEDIATELY HAVE EQUITY

Putting 20% down means you will already have equity when you move into your new home, which means it will take less time to build up your investment in your home. That will come in handy should you need to get an equity loan or line of credit for home repairs and/or improvements.

While putting 20% down on a home is not a requirement, and you can certainly purchase a house with less down, saving for a 20% down payment may be worth it thanks to the benefits listed above!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://homesforsaleinmontgomeryalabama.com for more information!

Thanks to rising housing and healthcare costs, many families have begun sharing multigenerational homes over the past few years. A multigenerational home is one where grandparents, parents, and children all live under the same roof.  According to Pew Research, 59.7 million Americans were living this way as of 2021. More people sharing a space may not seem ideal, but it does have its perks; from saving money to being present to care for family members when needed.

Multigenerational living means enough space in homes is needed to provide comfort and privacy for all family members. 

If you are in search of a home for this purpose, here are some things to look for:

1. ACCESSIBILITY

Even if the elders in the family are getting around easily now, it is important to think ahead to when it might not be so easy for them. Open floor plans are ideal for creating spaces that are easily accessible should someone be in a wheelchair at some point. In addition, look for a home that has at least one main floor bedroom and full bath so that going up and down stairs won’t be a problem in the future.

2. MAIN FLOOR BEDROOMS

As stated above, it is ideal to have at least one main floor bedroom. But if you can find a home with more than one main floor bedroom, all the better. Having some bedrooms upstairs and some downstairs provides separation and privacy between generations.

3. ROOMS THAT SERVE DUAL PURPOSES

Keep in mind that it is easy to convert a bedroom into another type of space, but not always possible to convert another space into a bedroom. Bedrooms need windows and a closet. So, when looking for a house, look for one with as many bedrooms as possible so that they can be used for different purposes like a den, playroom or office.

4. PRIVATE LIVING SPACE FOR EVERYONE

Look for a home large enough and with enough rooms to provide a private living space for each generation. For example, an office could become a den for grandparents, family room for the middle generation and maybe a playroom upstairs for the youngsters.

5. PRIVATE ENTRANCES

Look for homes that are already set up for multigenerational families. They may have an in-law suite, an apartment over the garage and private entrances for different parts of the home. If you cannot find one already built, consider a renovation of an existing home to add these features.

Whether you find the perfect property, renovate a home, or build one from scratch, remember to consider the needs, privacy and accessibility of all your family members and you will have a home filled with love!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check our https://www.homesforsaleinmontgomeryalabama.com for more information!

When you are searching for a new home, location is one of the most important factors to consider. You might love a house, but if it’s not in the right community, it may not be the right house regardless of how much it appeals to you.  So, before you start scrolling through home listings online, it is smart to have an idea of WHERE you want to live. 

Here are some things to consider when searching for the right neighborhood:

• You may have heard this saying before: “It’s better to have the worst house in the best neighborhood than the best house in the worst neighborhood”. While nobody really wants to live in the “worst” house anywhere, there is some good logic behind this statement.  If you ever plan to sell your home, its value will be impacted by the surrounding homes in the neighborhood.  For that reason, you will have better resale value if you are surrounded by homes that are similar to yours.  So, it is a good idea to research home values in the neighborhoods that appeal to you.
   
• How important is convenience to you?  Some people prefer living in more rural areas, but others desire close proximity to things like major interstates, shopping areas, medical facilities, and schools.  Before you start your home search it is important to decide how much convenience matters to you. In addition, you may want to think about the fact that having a home that is convenient to highways and such can have a positive impact on your resale value.
   
• Are home values rising or falling in the neighborhood? If a neighborhood has home values that are climbing, that is a positive indication that it is a good place to buy.  However, if a neighborhood has stagnant or falling home values, it might not be the best place to look for a home.  Many things can have an impact on home values; for example, if an area is growing with new businesses, the career opportunities involved can lead to rising home values in the area.
   
• Does the neighborhood have an HOA? (Home Owners Association)?  Some people love an HOA. They appreciate how it protects home values by establishing rules for maintaining the appearance of the homes and neighborhood. They also enjoy perks such as a neighborhood pool and clubhouse, parks, and walking trails.  However, for other people, an HOA is a deal breaker. They do not care for the rules and regulations (and payments) that come with it.  HOA regulations and costs vary from neighborhood to neighborhood, so it is important to research them before you decide to live in a community with an HOA.
  
• How safe is the neighborhood?  Safety is important to everyone. Nobody wants to live in a neighborhood that is not safe.  You can research crime statistics for neighborhoods online.  If you are relocating to a new state and you are not familiar with the area, an experienced local Realtor is a great resource to help you determine what areas are safe for you and your family.

There are so many factors involved in the home buying process, but determining the right location is a decision that requires thought and research.  Once you have found the right place, then you can start searching for the right house!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check our https://www.homesforsaleinmontgomeryalabama.com for more information!

Perhaps you are ready to buy a home, but you think you can’t because of a low score on your credit report. Bad credit can present challenges when purchasing a home, but it doesn’t have to keep you from moving forward with your dream of becoming a homeowner.  If you want to become a homeowner, don’t let bad credit hold you back!

Here are some tips for how to buy a home even when you have bad credit:

• GET YOUR CREDIT SCORE

Take a deep breath and do that search. There are several places you can get your credit score for free. Just keep in mind that you will have three credit scores - one each from Equifax, Experian, and TransUnion. These are the three major credit reporting agencies, so it’s a good idea to get scores form all of them.

• MAKE SURE YOUR CREDIT SCORE IS UP TO DATE AND ACCURATE

Your credit report is like a history of how you have handled borrowed money. There may be errors in it and if so, that could damage your credit score. You can get a free credit report from each of the three major credit reporting companies annually. When you get the reports, look over them carefully to make sure all the information is correct. If you find any errors, you can dispute them with the reporting companies.

• PREPARE YOURSELF FOR A HIGHTER INTEREST RATE

Qualifying for a mortgage with a lower credit score is possible if you are willing to pay a higher interest rate. Lenders charge more to protect themselves should the buyer make late payments or fail to make payments altogether. Unfortunately, bad credit means that you likely have a history of doing just that. While a higher interest rate does mean a higher mortgage payment, it may be worth it to become a homeowner investing in your own home rather than paying rent to a landlord.

• APPLY FOR AN FHA LOAN

Loans insured by the Federal Housing Administration (FHA loans) have lower credit requirements. With a credit score of at least 580, you can qualify for an FHA-insured mortgage with a down payment of just 3.5 percent of your home’s final purchase price. However, there are some catches. First, FHA loans are insured by the Federal Housing Administration, but they are originated by traditional mortgage lenders. Even though they can originate FHA-insured loans for borrowers with scores as low as 500, it doesn’t mean they are obligated to do so. They can choose to require higher credit scores. Secondly, FHA loans come with a financial penalty. With traditional mortgage loans, you can cancel your private mortgage insurance (PMI) after building up enough equity. With an FHA loan, you must maintain private mortgage insurance for the life of your loan.

• MAKE A LARGER DOWN PAYMENT

If you can come up with a larger down payment, lenders may be willing to take a chance on you. While it’s possible today to get a mortgage with as little as 3 percent down, people with bad credit may find that making a larger down payment is what will get them the mortgage loan they seek. When you put down more money up front it shows the lender that you are willing to take on the risk of a home loan. The lender also will feel you are less likely to walk away from a large financial investment. If you can come up with a down payment of 20 percent or more, you will increase your chance of getting approval on a mortgage loan.

• REBUILD YOUR CREDIT

If your credit is so bad that a mortgage is not feasible right now, don’t despair. It just means that it is time for you to start rebuilding your credit so that you can become a homeowner in the future. To do this, you simply need to start paying all your bills on time every month so that you can build a better credit history. Also, pay down as much credit card debt as possible to raise your score.

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

There are many steps to take when purchasing a home, but one of the first and most important is finding the right mortgage loan. Knowing the right questions to ask a mortgage banker is key to your success in acquiring a loan that works for you. It’s vital that you are educated about everything related to your home purchase.

Here are the questions you should ask your mortgage banker to be sure that you are prepared for the lending process:

• What is my credit score?

When you apply for a mortgage loan, your lender will look at your credit history including your credit score, your debt-to-income ratio (DTI), and your liquid cash and assets. Having a high credit score will help you in the securing a loan. It is calculated by taking your payment history, outstanding balances, length of credit history, number of credit inquiries, and types of credit history all into account. Your lender will use your credit score to help determine the risk of granting you a loan.

• What is the best type of loan for me?

Once your mortgage banker has all the personal financial information you provide, he or she will let you know the loan programs you qualify for. Every loan program has a minimum qualifying credit score and DTI ratio. A good mortgage banker will patiently walk you through each type of loan so you can determine which one you are most comfortable with.

• How much should my down payment be?

Many people believe that you must put 20% down when purchasing a home. That is not always true! You have options. A conventional loan generally requires at least 3% down. But if you want to avoid Private Mortgage Insurance (PMI), 20% is required. There are also some government-backed loans that range from 0-3.5% down. Your lender will go over these options with you thoroughly.

• What are closing costs?

When you close on your home, your closing costs may include property taxes, homeowner’s insurance, title search fees, and appraisal fees. There might be other costs as well. Basically, all fees for services completed involved in the loan process need to pay and are taken care of with closing costs. These items will be itemized, and your mortgage banker can answer any questions you have about them.

• When will I close on my home?

The time it takes to close on a house after getting your mortgage loan application approved usually runs anywhere from 30-50 days. As long as there are no last-minute problems, the closing itself (signing the papers) may take about an hour.

Buying a home can be an overwhelming experience, especially for first-time homebuyers, but finding the right mortgage lender and asking the right questions will make the process less stressful for you!

If you are in the market to buy or sell a home (or both), let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs! Call them today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Are you moving this summer? With rents sky high and continuing to rise with no end in sight, you are likely going to want to purchase a home as quickly as possible. While buying a house is something you should not take lightly, there are ways to speed up the process while still making sound and smart decisions. Does that sound too good to be true?  Well, no promises, but there are steps you can take to buy a home fast.

Whether you are buying a house for the first time, or you have navigated the home buying process before, chances are you know that it can be lengthy and complicated.  But there are certain strategies you can use that will speed things up.

Here are some tips to help you get started:

• CHOOSE THE RIGHT TYPE OF HOUSE

There are certain types of homes you will want to avoid if you’re in a hurry. You should also avoid bank-owned homes or foreclosures, which generally take much longer to close. The fastest way to go is to focus on condos or new developments. Closings for condos and new developments can take as few as three to four weeks to happen.

• GET PRE-APPROVED FOR A MORTGAGE

This is a strategic move that will give you a head start so that when you do find a house you want to purchase; you will already be approved for a mortgage loan and can make an offer right away. This will also help you to stay within your budget when looking at homes because you won’t want to waste time looking at properties that cost more than what you are pre-approved for.

• HAVE YOUR DOCUMENTS IN ORDER AND READY TO GO

Get all the paperwork that you will need organized so that it is ready and waiting when you find the right home. Generally, a home buyer will need the following: federal tax returns for the past two years, supporting information such as W-2, 1099, or other tax forms for the past two years, two months’ worth of bank statements for your checking, savings, 401K, retirement and other accounts, and pay stubs from the past month.

• FIND THE RIGHT REALTOR TO GUIDE YOU THROUGH THE PROCESS 

You will want an experienced, professional Realtor like Sandra Nickel who knows the area well and can use their expertise to get you into a home quickly.

• OFFER TO SHORTEN CONTINGENCY GUIDELINES

Don’t risk waiving home inspection or financing contingencies but consider a shorter time frame to effect a faster closing.

• BE PREPARED FOR YOUR MOVE

Don’t wait until you have closed on your new home to start packing and preparing for your move. Start early so that as soon as you close, you are ready to go!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Owning a home is likely the largest financial investment many will make, so whether you are buying or selling a home, it is important to think about resale value. With a little research, you will find that there are some things that will get you a great return on investment and there are others that will not.

When selling your home, you may want to make some improvements that will make it more appealing to buyers, ensuring a more profitable sale. But it is when you are searching for a home to buy that you can consider options that will give you desirable resale value in the future.

Here are 5 surprising things that will raise your home’s value:

1. LOTS OF TREES

While a brand-new house in a recently established community has its perks, what it often lacks is a proximity to mature trees. Large, well-rooted trees found in older neighborhoods, not only make for a lovely landscape, but they also provide shade. They add beauty and they save energy, while also increasing your home value.

2. GOOD SCHOOL SYSTEM

It may not seem so unexpected that a home in a good school district would have increased value. But sometimes people who do not have children do not think about this. Even you if you never intend to have children, you should keep in mind that many buyers will be highly motivated to purchase a home based on the quality of the area’s school system. For the purpose of resale value, it would be smart to invest in a home in an area with desirable schools.

3. SHOPPING NEARBY

People like convenience, so if a house is in close proximity to a shopping area with a supermarket, it will likely increase its value. This is especially true if it is close to higher-end stores like Trader Joe’s or Whole Foods. Per Zillow, homes near these grocery stores may appreciate up to 40% more quickly than other homes.

4. OUTDOOR RECREATION AREAS

Living close to a park, walking trails, or other recreation areas can increase your home’s value. Things like dog parks, tennis courts, golf courses, and playgrounds are appealing to people who enjoy staying active. They will be willing to spend a little more to live close to areas where they can enjoy outdoor activities.

5. SEPARATE LIVING SPACE

Whether you have a mother-in-law suite, an apartment, or a carriage house, having a separate living space will add to the value of your home. Unlike the other items listed here, this is something you can add to a home after moving in. But while looking for a home, you may want to keep an eye out for one that already has one. Not only will it boost resale value, but it will give you the opportunity to earn rental income (depending upon the laws in your area) while living in the house.

When buying a home, it is important to find a place that feels right for you, but unless you plan to stay there forever, it will benefit you to think about resale value as well!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!