The days of refinancing your home for extra cash are slowly fading into the past. Since the recession, most homebuyers have felt that completely paying off their mortgage was is worthwhile as it provides them with peace of mind and outright ownership of their home.
The first and most important step to selling your home without a realtor is to do a lot of research. Read through the purchase and sale agreement from contract when you bought your home, review local listings online and in real estate publications and try reading blogs and books about selling by owner. Your research can help you understand the language and processes of the real estate business and most importantly can help you know what your home is worth, and therefore how much you might be able to list it for.
Most mortgages are set to last for 30 years. Did you know that you can refinance your home and end up with a mortgage that is only ten to fifteen years? This may be a good idea if you are interested in paying that mortgage off before you are retired with grandkids. Frequently, people choose the fifteen year mortgage because it still provides a substantial decrease in the time length while not increasing monthly payments too much. Remember that these shorter mortgages will have higher payments, but it will be worth it when you own your home outright and are that much closer to being debt free.
The key to selling a home is to price it effectively. If you end up pricing your home too high, then it will scare buyers off. Plus, if it stays on the market for too long because of the price being high, potential buyers will assume that there is something wrong with the house and might pass it over in their search. The lower the price, the faster it will sell, presumably...but you need to make sure that you are making a profit as well.
A dirty home will be difficult to sell. You are going to need to take a good chunk of time to get that place so clean that it sparkles. This will be unlike any cleaning you have probably ever done. You will need to wash the windows, inside and out, re-caulk tubs and sinks, scrub tile, wax the floors and do pretty much anything you can think of. Having a clean home will entice those picky buyers.
If you are among the lucky people who get a tax return instead of owing the IRS, why not take that little extra money and apply some or even all of it towards the principal of your mortgage. Big payments like this can help you get ahead and shorten the time frame of escaping that looming debt. Request a statement from the bank that tells you how much you still owe. Use this number and plan ahead to make higher payments each month. Some people have even doubled their monthly payments four times a year.
Regardless, you are going to have to pay more in a shorter period of time to get rid of the mortgage. These are just a few ideas on how you can throw more money at that mortgage monster. If paying off your debts is a priority to you, then utilize these tips to accomplish that goal. It may be a difficult sacrifice, but you will be glad you did it in the end. Get started now with a plan to get ahead!
The first and most important step to selling your home without a realtor is to do a lot of research. Read through the purchase and sale agreement from contract when you bought your home, review local listings online and in real estate publications and try reading blogs and books about selling by owner. Your research can help you understand the language and processes of the real estate business and most importantly can help you know what your home is worth, and therefore how much you might be able to list it for.
Most mortgages are set to last for 30 years. Did you know that you can refinance your home and end up with a mortgage that is only ten to fifteen years? This may be a good idea if you are interested in paying that mortgage off before you are retired with grandkids. Frequently, people choose the fifteen year mortgage because it still provides a substantial decrease in the time length while not increasing monthly payments too much. Remember that these shorter mortgages will have higher payments, but it will be worth it when you own your home outright and are that much closer to being debt free.
The key to selling a home is to price it effectively. If you end up pricing your home too high, then it will scare buyers off. Plus, if it stays on the market for too long because of the price being high, potential buyers will assume that there is something wrong with the house and might pass it over in their search. The lower the price, the faster it will sell, presumably...but you need to make sure that you are making a profit as well.
A dirty home will be difficult to sell. You are going to need to take a good chunk of time to get that place so clean that it sparkles. This will be unlike any cleaning you have probably ever done. You will need to wash the windows, inside and out, re-caulk tubs and sinks, scrub tile, wax the floors and do pretty much anything you can think of. Having a clean home will entice those picky buyers.
If you are among the lucky people who get a tax return instead of owing the IRS, why not take that little extra money and apply some or even all of it towards the principal of your mortgage. Big payments like this can help you get ahead and shorten the time frame of escaping that looming debt. Request a statement from the bank that tells you how much you still owe. Use this number and plan ahead to make higher payments each month. Some people have even doubled their monthly payments four times a year.
Regardless, you are going to have to pay more in a shorter period of time to get rid of the mortgage. These are just a few ideas on how you can throw more money at that mortgage monster. If paying off your debts is a priority to you, then utilize these tips to accomplish that goal. It may be a difficult sacrifice, but you will be glad you did it in the end. Get started now with a plan to get ahead!
About the Author:
Luxury Homes in Springville, Utah is owned by John DeHaas who has been in the manufactured home business for 46 years! In that amount of time John has seen huge changes in the homes that he sells (Including Modular Homes in Utah and Mobile Homes in Utah). Luxury homes provides a diverse and great assortment of housing options that can meet your personal budget.
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