Preparing to Sell Your Home: How do I Improve My Home’s Curb Appeal?

You want prospective buyers to have a positive first impression of your home. That’s why curb appeal is so important. If everything in the front is well-chosen and in perfect repair—from the mailbox and house numbers to the walkway and landscaping—buyers will think, “This house is obviously well-cared for.” Below are some opportunities to help you improve your home’s curb appeal.

Front door

The front door can be a home’s focal point. Sometimes a front door can be salvaged with a fresh coat of paint, new handle and hardware. Completely replacing an entryway door with a new steel one offers among the biggest bang for the buck at resale—an average of 73 percent of the cost may be recouped.

Windows

Wash them inside and out, and remove the screens for added sparkle. Then, try dressing up the windows with flower boxes, and consider a new color for the shutters. The latest trend is to more monochromatic palettes that blend with the rest of the house.

Garage

As with the front door, garage doors can be repainted, repaired or replaced. Sellers who replace the doors with new steel ones recoup nearly 72 percent of that investment at resale.

Front porch

 “Sell” your front porch as additional square footage by staging it as you would other rooms. Invite buyers to sit on a pair of rocking chairs, Adirondacks or a porch swing. You can even add a side table for writing up the contract.

Driveway

If the driveway is covered with cracks and oil stains and you can’t afford a complete resurfacing, you can patch cracks using premixed concrete materials, or asphalt or concrete that comes in caulk-like tubes. Kitty litter can be used to remove oil stains.

Lighting

Curb appeal matters in the evening as well. Conceal portable outdoor lamps and aim them at the house or a beautiful tree. Line a pathway to the door with solar lights, which are much cheaper to install than hardwired lights, and which you can take with you when you move.

I can help you make sure your home is ready to show, from the outside in. Call me at 317.777.1805, or email me at Scott@LacySells.com.

Preparing to Buy a Home: What are Some Finance Tips for the Self-Employed?

If you are ready to buy a home and are self-employed, you may find it more difficult than usual to obtain financing, due to insufficient income history, credit or savings. Below are some tips to help ensure your financial situation is as strong as it can be when you are ready to apply for a home loan.

Savings: Consider allocating a percentage of income to your savings account instead of a fixed dollar amount. This ensures adequate savings during high income months. This is in addition to the funds you put aside for income taxes.

Credit score: Make sure you pay your bills on time, all the time. Don’t use more than 40 percent of your total outstanding credit lines, and pay more than the minimum every month (in full if possible). Don’t apply for too much new credit at one time, but don’t close your old, unused lines. Those actions actually hurt your score and may negatively affect a loan application.

Financial history: Avoid applying until your credit history is pristine. Plan for a substantial down payment (at least 15 percent), as well as a vigorous financial screening process that includes providing at least two years of income, savings and income tax history.

If you are self-employed, have your financial house in order and are ready to buy, call me at 317.777.1805, or email me at Scott@LacySells.com.

Preparing to Buy a Home: What are Some Tax Breaks for Homeowners?

If you’re debating about whether to buy a house, consider the tax breaks you will receive as a homeowner. One way the government encourages homeownership is by offering borrowers three big tax breaks: the mortgage interest deduction, the property tax deduction, and in Indiana, the homestead deduction.

Mortgage interest deduction: Principal and interest comprise your monthly mortgage payment. When preparing your taxes, you can deduct the total amount of interest you paid to your mortgage company from your income. The lower your income, the fewer taxes you owe.

Property tax deduction: Many homeowners pay their property taxes by including monthly escrow payments with their mortgage payment. When the property tax bill comes due, the mortgage company distributes funds from the escrow account directly to the tax assessor. During tax season, your mortgage company will include these tax payment on your 1098 statement.

Remember, lender rules state that you must keep a “cushion” in your escrow account in case your property taxes rise, so be sure you only deduct the tax payments made to the assessor and not the payments you made to the account.

Homestead deduction: If you own a home or are buying on contract, and use it as your primary place of residence, your home—and up to one acre of land—could qualify for a homestead deduction. The deduction is either 60 percent of your assessed valuation or a maximum of $45,000. You cannot receive the homestead deduction in multiple states—only in the state considered your principal place of residence. 

Points deduction: “Points” is another way of saying “mortgage interest.” If you paid prepaid points when you closed on your home, that expense is also deductible.

If you’re ready to buy a home and take advantage of these tax breaks, call me at 317.777.1805, or email me at Scott@LacySells.com.

What Should I Know When Hiring Home Maintenance Help?

We all know that good help is hard to find. Whether you’re preparing your home for sale, fixing up a new purchase, or maintaining your existing home, finding qualified professionals that provide good value can be difficult. Below are some tips to help you find the best help for your home projects.

1. Hire only reputable home maintenance and repair professionals. Request a copy of their business license and current insurance, then confirm the insurance is still in effect. Never allow an unlicensed person to perform any work on your property. Should he or she be injured, you could be liable.

2. Think twice before hiring neighborhood children or the local (unlicensed) handyman. You opening yourself to potential liability should an injury take place on your property, and have little to no recourse if the work is performed improperly. Sub-standard work can also cause trouble selling your home or obtaining insurance later.

3. Don’t pay in advance. Depending upon the type of work a deposit may be required, but do not make final payment until the work is completed to your satisfaction.

4. Insist on a contract, and carefully review it before signing (especially the fine print). Ask questions if you don't understand something.

5. Ask for references and follow up with them. Speak to friends or colleagues who have worked with this professional in the past.

6. Call the Better Business Bureau to make sure there are no complaints against the provider, or look them up with a review provider such as Angie’s List.

7. Ask for the name of the subcontractors who will be working on your property. If security is a concern, ask if the business runs background checks on their employees.

I can also provide referrals upon request. Call me at 317.777.1805, or email me at Scott@LacySells.com, for more information.

Preparing to Sell Your Home: How Can I Quickly and Easily Stage My Home?

Staging your home for sale is important, but it doesn’t have to be costly or time consuming. Use some or all of the quick fixes below to spruce up your property and make it look more appealing, up-to-date, and ready to sell:

• Clean and clear. Most importantly, make sure your home is clean and free of clutter, both inside and out.
• Paint or touch-up. A few cans of paint can create a fresh appearance in just hours. Use neutral colors that will appeal to potential buyers.
• Make small repairs. Take time to attend to those small repairs that you’ve been putting off before showing your home.
• Create a mood. Transform main rooms into spaces in which prospective buyers can imagine themselves living. Some common accessories with which to do this include:

        - Lighting
        - Candles
        - Mirrors
        - Flowers
        - Pillows and small rugs
        - Baskets or potted plants

For more information about staging your home for sale, call me at 317.777.1805 or email me at Scott@LacySells.com. I’ll coordinate staging that fits your budget while highlighting the best features of your property.