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How to Make Your House Shine in Photographs When Selling
When it comes to selling a house, first impressions are everything. Curb appeal has always been important in real estate, but now that many buyers begin their home search online, having photographs of your home that shine is essential. Capturing the perfect shot and making your house look its best can seem daunting, but following these simple tips will help you get the job done.
Clean the Windows and Open the Shades
The windows of your house can be one of its defining features, but if they are obscured by dirt or grime, then they will detract from the overall look of your home in photographs. Make sure to give them a good clean before taking any pictures so that natural light can fill the room.
Perk Up Houseplants
Houseplants are an excellent way to liven up any space and add life to a photo, but they also require regular attention for them to stay healthy and vibrant. If you have any plants inside your home, make sure to give them a bit of TLC before taking any shots so that they don’t detract from the look of your house.
Remove Counter Clutter
Clutter is one of those things that is easy enough to overlook until you take a picture, at which point it becomes painfully obvious! Clear away all unnecessary items from countertops and tables before shooting so that nothing distracts from the overall aesthetics. This also applies to any clutter on shelves or mantles – less is always more when it comes to creating stunning visuals.
Polish Wood Floors and Shine Up Appliances
Wood floors often require regular maintenance and polishing for them to really shine, so don’t neglect this step if you want impressive results! Polishing up appliances such as microwaves and ovens can also help create an overall clean feel, which will come across clearly in photographs as well.
Hide Toiletries and Freshen Bathrooms
One of the most important things is to make sure all toiletries are hidden away when taking pictures. This includes items like shampoo, soap, razors, toothbrush holders, and so on. You also want to make sure the bathrooms are nice and clean; give them a quick scrub if need be.
Tuck in Bedcovers
Have all the beds made with crisp linens before taking pictures of the bedrooms. It will make your rooms look polished and neat. Also, consider removing any extra blankets or pillows that might be lying around – they can distract from the overall photo composition.
Switch on All Lights
Turn on all the lights in each room before taking pictures. Doing this will help show off each room’s best features and create brighter images overall. This tip is especially important for darker areas, such as hallways or basements, that may need some extra light for better photos.
Highlight Special Features
Make sure you highlight any special features your home has, such as fireplaces or built-in bookshelves, by including them in the frame when taking pictures. Doing this will help draw attention to these features, making them stand out more in potential buyers’ minds when they view your listing online or in person.
Focus on First Impressions
Lastly, focus on creating an inviting first impression by making sure that the entryway looks inviting with a welcoming rug or artwork displayed prominently near it. It’s also a good idea to keep any clutter at bay – it can be distracting and take away from the overall effect of your photos!
Ready to Sell?
Selling your home is a daunting task and requires effort to get it camera-ready. You’ll want to make sure that the first impression really sells, as this can play a big part in making or breaking how many potential buyers view it in person. With these simple tricks, you can make sure that your humble abode shines in any photograph and impress buyers without having to do too much extra work.
If you’re thinking about selling your home, contact me today, and let’s get started on your real estate journey! I can help you make sure that the photos for your home stand out and give a great first impression. By working together, we’ll maximize the value and ensure a quick sale!
10 Ways to Personalize Your New House
Just bought a new house?
Congratulations!
Moving in is the start of an exciting new chapter, and you’re likely bursting with ideas for making your new home warm and inviting.
From simple upgrades to larger projects, there are plenty of ways to personalize your space so you can feel at home as quickly as possible. Here are 10 unique ideas that will help make your house truly yours.
Paint the Front Door
Painting your front door offers a simple, yet powerful way to spruce up the exterior of your home. Embrace an understated look with a color that ties together all its elements or choose something bold and make it truly unique!
Buy Fresh Flowers
Ready for a fresh beginning? Brighten up your space with vibrant blooms! From corner vases to bouquets, flowers can instantly enliven any room and bring some energy into the atmosphere. Take time out of your day to treat yourself to a nice arrangement — happiness awaits in these petal-filled moments!
Hang Personal Photos
Personal photos spark a deep connection between the present and past, helping us to appreciate our journey thus far. They are more than just reminders of happy memories – they serve as an anchor in life’s turbulent waters, enabling us to craft each new chapter with purpose.
Change the Kitchen Faucet
Installing a new kitchen faucet can be an easy and inexpensive way to bring some modern style into your home. If you’re stuck with dated remnants from past owners, don’t despair – there are plenty of options out there that will give your cooking area the fresh look it deserves!
Put Up Wall Hooks
Wall hooks are a practical and stylish way to bring life into your living space! From coats to umbrellas, purses, and beyond—these versatile solutions make use of vertical surfaces while adding texture, character, and convenience.
Switch Out a Light Fixture
Revamp your space with an on-trend light fixture that bridges the gap between style and function. Move away from outdated fluorescent tubes and toward something modern to brighten up any occasion – without being too harsh or glaring.
Make a Place For Your Keys
Stop the scavenger hunt for misplaced keys! Make sure everyone can keep track of their sets by placing key holders near all entrances. Never forget where your house or car keys are again – simply pop them into the holder, and they’ll be waiting when you need them most.
Upgrade Window Treatments
Curtains are an often overlooked decorating tool that can help breathe life into any room. By bringing in color and texture, they create a unique atmosphere you won’t find anywhere else. Plus, when privacy is needed, curtains provide the perfect way to stay hidden away from prying eyes!
Create A Special Spot
Every home should have a special sanctuary – an inviting space with comforting atmosphere that is perfect for curling up with good books, sharing laughter with friends, or creating meaningful moments of togetherness in the presence of your family.
Add A Fun Outdoor Feature
As outdoor living becomes more popular, consider adding unique elements to your outdoor space that reflects what makes you feel the most comfortable and at home. Get creative with fire pits or hammocks for lounging or garden-inspired furniture for summer entertaining. With a little ingenuity, you can make your outdoor space as cozy and inviting as the inside of your house —the possibilities are infinite!
Turn Your House into a Home
A home is more than just a structure: it’s where memories are made and lives are lived. That’s why moving into a new house is definitely a cause for celebration! With these 10 ideas in mind (or whatever other fun projects you come up with!), you can easily turn any house into one truly personalized and inviting space that will feel like home in no time!
Is it time for you to buy a new home? I’m ready to help you find the perfect property and make your home-buying journey as smooth and successful as possible. Get in touch today to learn how I can assist you in making the best real estate decisions for your future.
Simple Tips to Stop Stressing About Your Housework
If you dread coming home to a messy house, you’re not alone. It’s easy to let housework overwhelm us, but it doesn’t have to be that way! With a few simple tips, you can learn to relax about your house and put housework in its rightful place.
Untidy Doesn’t Mean Dirty
Messiness and uncleanliness may appear to be the same problem, but there is actually a significant difference between them. Approaching this challenge in a stepwise manner by first assessing what type of issue it is will help you conquer it more easily. Rather than trying to take on the mountain of chaos all at once, break it down into two smaller hills – messiness and uncleanliness – and address these individually.
Get Over Perfection
We all want the best for ourselves and our lives, striving to reach perfect standards. But often, by doing this, we set impossible standards which leave us feeling overwhelmed and stressed by housework.
In reality, others’ opinions are not as important as our own.
Life involves ebbs and flows that affect even the most perfect of routines; perfectionism is not flexible, which is why it so easily becomes a struggle when faced with an unpredictable lifestyle. Instead, focus on creating a healthy home environment that you are comfortable in – there’s no right or wrong when keeping your house clean; it only needs to meet the level deemed acceptable by you and your family.
Know Your Priorities
It is important to know how to choose which battles to take on. Focusing your energy on the few most important tasks can significantly reduce mounting stress and lead to a more successful outcome. Cleaning one room at a time, for example, is a great way to set achievable goals that produce quick and tangible results; this can help to nurture motivation, productivity, and clarity of purpose. Furthermore, splitting work into small doable chunks makes it easier to handle larger projects without feeling overwhelmed or bogged down by their intimidating size. Taking the time to prioritize tasks will ultimately increase efficiency and success in getting them done.
Have a Fast and Effective Routine
Keeping your house tidy and clean requires some effort, but having the right equipment is half the battle. Setting yourself up with these must-haves for reducing mess will make it easier to achieve spotless results every week. A long-handled feather duster, handheld vacuum cleaner, and all-purpose spray cleaner are essential for getting rid of dust and dirt quickly. When it comes to stubborn stains, a foam spot cleaner always comes in handy. For floors, the classic Swiffer mop with dry and moist cloths will help you get them sparkling in no time. Finally, don’t forget to treat yourself with a luxurious room fragrance that will make your home smell delightful.
Keep the Kitchen in Perspective
The kitchen is often seen as the heart of the home, and being creative and having a kitchen that is conducive to creative cooking can be so much fun. But it also needs to be realistic – dinner isn’t made and eaten in pristine environments. Kitchens, by nature, are workrooms as well as spaces for gathering and enjoying a meal with family or friends. That said, it’s important to embrace the aromas, noise, and fun that come along with preparing meals with the people you love. Don’t worry about impressing everyone each and every night- just revel in the fact that you’re able to provide a delicious dinner for your family, and don’t forget to ask for help with the cleanup!
Relax a Little
When it comes to domestic responsibilities, keeping up with a regular schedule can provide a sense of balance. Letting go of perfectionist tendencies can be particularly beneficial in feeling like you don’t have to do it all – focusing on the kitchen area alone may be enough to make your home feel sparklingly clean!
With a combination of common-sense rules, having realistic goals, and understanding that everyone’s needs vary, taking remembering simple tips like these will help you manage your housework stress effectively and much more easily.
5 Home Interior Design Secrets to Transform Your Home
Do you want to transform your home into a beautiful, stylish interior haven? It’s not always easy to transform a house into a home. It takes time and effort to create the perfect look and feel that best reflects your personality and style.
But don’t worry!
You don’t have to be an experienced designer or spend a fortune on high-end furniture and accessories. With just a few simple design secrets, you can update the look of your home and create an inviting space that is uniquely yours.
Incorporate a Color Scheme into Connected Spaces
One of the most important elements in interior design is creating cohesion between different spaces. If you have an open floor plan, for example, creating a visual continuity between the living room and dining room can be tricky. That’s why it’s important to use color threads throughout your home—color threads act as common denominators that link various spaces together. You can do this by using one main color throughout all rooms or by incorporating accent colors into each room that are similar in hue or tone.
A Pop of Red Can Make all the Difference
Adding a pop of red is an easy way to instantly transform any space from dull and dreary to vibrant and inviting. Whether it’s through accent furniture pieces, wall art, or accessories like pillows or rugs, adding some red will bring life into any room. Plus, red has been known to increase energy levels, so your guests won’t be able to help but feel energized when they step foot into your home!
Display Items That Represent Your Persona
A great way to give character and personality to any room is through vignettes (i.e., small groupings of items like books, candle holders, etc.). This could include something as simple as stacking books on a coffee table or arranging family photos on a shelf; just make sure the items you choose reflect who you are as an individual or family! Whether it’s vintage pieces or modern decor items, displaying things that mean something special will make the space more personal and unique.
Transform Your Space with Living Plants
Nothing adds life quite like real greenery does; plants breathe life into any room! Houseplants come in all shapes, sizes, and colors, so you’re sure to find the perfect fit for whatever type of vibe you’re trying to create in your home. Not only do plants add beauty, but they also improve air quality, so if anyone in your family suffers from allergies, then houseplants are definitely worth considering when styling up your home!
Less Is More
Accessorizing a space can be a fun and creative way to show your own personal style, however, it is important not to go overboard and find yourself over doing it. Too much furniture or knick-knacks in a room can make the space feel cluttered and disorganized. When dealing with rooms that need to fulfill a specific purpose, such as bedrooms, bathrooms, or kitchens, keep the items in the room simple and elegant so that its function is not impaired by too many items.
Time to Decorate
Overall, having an eye for aesthetics, creating a focal point, and expressing your uniqueness through decorations are powerful tactics to transform the look of your home. With small changes in furniture, accessories, and paint color, you can achieve large levels of change! Keep these 5 secrets in mind when it comes to decorating your home, and always keep experimenting to create a design that is truly yours.
If you’re looking to upsize or move into a new house entirely, contact me and I’ll be more than happy to guide you in the right direction.
How to Avoid Common Moving Nightmares
Moving is a stressful time for everyone involved, but it doesn’t have to be. By avoiding common moving nightmares, you can make your move as stress-free and organized as possible. In this blog post, we’ll outline five common relocation nightmares and how to avoid them.
Not Labeling Moving Boxes or Taking Inventory
One of the worst relocation nightmares is not labeling your boxes or taking inventory of what you are packing. It can take hours to unpack when all your boxes look the same, and you don’t know what is in each one. To stay organized, label each box with its contents and take pictures of all items before they go into the box so you can keep track of what you’ve packed. Additionally, write an inventory list that includes everything in each box so that if something goes missing during the move, it will be easy to pinpoint where it was last seen.
Not Researching Enough Moving Companies
Another common nightmare when it comes to relocating is not doing enough research on potential moving companies. It is important to read reviews and ask around for recommendations from friends or family members who have used their services before. Make sure that any company you work with has insurance coverage so that any damage caused by their services can be covered. Comparing quotes from different companies can also help ensure that you get the best deal possible on a reliable company.
Not Getting a Large Enough Moving Truck
Nothing quite compares to having your truck arrive only to find out it isn’t large enough for everything you need moved! To make sure this doesn’t happen to you, measure every piece of furniture and calculate how much space they will need in a truck ahead of time. This way, if there are any surprises or changes along the way, you can adjust accordingly without having to worry about running out of room or needing an additional truck at the last minute.
Not Getting Rid of Stuff Ahead of Time
Clutter creates chaos during a move and can add unnecessary stress if not taken care of beforehand. Take some time before your move-in date to get rid of stuff that no longer serves a purpose (i.e., clothing items you haven’t worn in years, furniture pieces that are too big for your new home). This will save time as well as money since less stuff means fewer boxes and less weight for movers—which could lead to lower costs overall!
Not Packing an Overnight Bag
With all the hustle and bustle surrounding a move, it’s easy to forget about packing an overnight bag with the essentials (i.e., toiletries, pajamas). Make sure this doesn’t slip through the cracks by preparing an overnight bag ahead of time with all necessary items needed for at least two days—that way if anything gets lost in transit or takes longer than expected, unpacking/organizing once arrival happens at destination location(s).
Reduce Your Stress
Anyone who has ever moved before knows that it is not an easy task. There are a million things that can and often go wrong. The best way to avoid any disasters is by being prepared for them ahead of time. By following the tips above, you can hopefully avoid any major relocation nightmares!
Debunking Five Common Selling Myths
Selling your home can be a daunting task, and it can be hard to know what steps to take in order to make sure you get the best deal possible. That’s why it’s important to separate fact from fiction when it comes to preparing your home for sale. Here are five common myths about selling a home—and the truths behind them.
Myth 1: You should renovate the kitchen and bathroom.
Truth: While a remodel would certainly increase your property value, it’s not necessary—especially if you don’t have the budget for it. However, there are some inexpensive ways you can give your kitchen and bathroom a facelift without breaking the bank. Consider painting cabinets, replacing fixtures, and refreshing tile grout. These small changes will help spruce up the look of these rooms without all the hassle of a full remodel.
Myth 2: The interior of my home is more important than the exterior.
Truth: Actually, first impressions matter! Make sure that your landscaping is well-maintained and that you give your front porch or entryway an inviting feel with tasteful decorations like potted flowers or plants. Cleaning up any debris around the yard or driveway is also key—you want potential buyers to feel welcome right away!
Myth 3: There’s no need to stage my home if it is already clean.
Truth: Staging is so much more than just cleaning! Taking time to arrange furniture and décor in a way that shows off each room’s best features will create an inviting atmosphere for potential buyers. Even if you don’t have much furniture or décor on hand, minimalistic staging can still go a long way in creating an appealing environment for viewers.
Myth 4: Everyone is over granite and stainless steel appliances.
Truth: While granite countertops may no longer be ‘trendy,’ they are still classic additions that many people find desirable in homes today. Stainless steel appliances are also timeless classics that will stand out in any kitchen—but if they’re outdated models, consider updating them before listing your property to appeal more to potential buyers who might be looking for more modern features in their new home.
Myth 5: Home shoppers can paint over colors they don’t like.
Truth: Potential buyers may overlook some colors they don’t care for while touring homes; however, they might not want their hard-earned money going toward something they won’t appreciate down the road (like repainting). Painting walls with neutral colors will help ensure that prospective buyers focus on how livable each space is rather than how much time (and money) it would take for them to switch out wall colors later on!
Prepare the Right Way
Selling your home doesn’t have to be a hassle. With these tips in mind, you’ll be one step closer to getting top dollar for your house.
If you’ve been thinking about selling your home, be sure to contact me. I’ll be happy to answer any of your questions and provide expert guidance every step of the way.
5 Tasks to Take Care of After Closing on a Home
Congrats! You’ve just closed on your new home. But before you can settle into your new abode, there are still some tasks that need to be taken care of. Here is an overview of the five most important things to do after closing on a home.
Deep Clean the House
You may have done a thorough walkthrough before closing, but it never hurts to give the house another once-over—especially if it has been vacant for a while. Dust and clean all surfaces, including walls, ceilings, and floors. Vacuum or steam-clean carpets and rugs. And don’t forget about the windows too! A deep clean is also a great opportunity to assess any areas in need of repair or improvement prior to moving in your furniture and decor.
Change Out the Locks
It’s always wise to change all locks on exterior doors after closing on a home—even if you’re purchasing from someone you know or trust. It’s unknown who else may have copies of the keys from previous owners or contractors that had access during renovations. Have an experienced locksmith install deadbolts with at least an ANSI Grade 1 rating for added security measures.
Have Your HVAC Units Cleaned
Depending on how long it has been since they were last used, older HVAC systems can accumulate dust, dirt, and debris that can reduce their efficiency over time. To ensure they work as they should, have your air conditioning and heating systems professionally cleaned before turning them back on again post-closing. This will not only improve their performance but also make sure they are running safely and efficiently throughout the year ahead.
Update Your Driver’s License
Moving requires changing your driver’s license to reflect your new address (not to mention any other documents such as bank statements or voter registration). Contact your local DMV office for further instructions on how best to update these documents with your new address details—often, this just requires filling out a quick form online or via a mail-in application process.
Submit a Change of Address
Before you move into your new home, be sure to submit an official change of address form with USPS so that all mail sent to your old residence will be forwarded correctly (this includes online purchases). Submitting this form online is easy and takes only minutes—simply enter in all required information such as name(s), date of birth(s), etc., pay applicable fees (if any), then submit!
Time to Enjoy Your New Home
Moving into a new home is exciting—but before you can unpack boxes and get comfortable in your new space, there are some important tasks that need completing first!
From deep cleaning the house to updating your driver’s license information, double-check this list of five essential items after closing on a home for peace of mind that everything is taken care of prior to settling in for good!
5 Reasons To Live In Your New Home Before Renovating
Moving into a new home is an exciting experience! You’re filled with anticipation and excitement to finally create a space that truly reflects you and your family.
Whether this is your first time becoming a homeowner or you’ve owned in the past, it’s natural to want to start making changes right away. However, we recommend that you live in your new home for at least a few months before renovating.
Here are five reasons why you should wait before making any renovations to your new home.
You’ve Had Enough Stress Already
Moving can be an incredibly stressful time. From packing up all your belongings to signing the paperwork and unpacking everything in your new home – it can take quite a toll on you both mentally and physically. That’s why you should give yourself some time to settle in before starting any major renovations. It will give you the opportunity to get used to living in the new home without feeling overwhelmed or stressed out by the renovation process.
You Need Time To Plan
Renovations don’t happen overnight, and they require careful planning and thought so that everything goes smoothly from start to finish. If you jump right into renovating after moving into the new home, you may not have had enough time to consider all of your options or think through every detail of the project. Giving yourself extra time will ensure that you make well-thought-out decisions that lead to successful renovations that last for years.
Moving Has Strained Your Budget
Moving can be expensive, especially if you need professional movers or if you’re relocating across state lines. So, taking some extra time after moving into your new place will help reduce financial stress while also giving yourself more flexibility when it comes time to plan out how much money needs to be allocated towards the renovation projects.
Living In The Home Can Change Your Mind
Living in the house for 6–12 months gives you plenty of opportunities to get creative with ideas about what could potentially be done with each room in order to make it fit better with your lifestyle and tastes. Often times this leads homeowners to discover new ways they could use certain spaces or decide against doing certain types of renovations altogether because their ideas changed after living in the house for some time.
Re-Evaluate Your Renovation Choices
Many people end up making rash decisions when it comes time to choosing materials or deciding which rooms need renovating first–only later regretting their choices because they didn’t give enough consideration during the planning phase. Allowing yourself some extra time can help prevent costly mistakes like this from happening by giving you ample opportunity to research different materials and decide which rooms need tackling first before committing anything on paper (or on budget).
Enjoy Your New Home First
When moving into a new house, taking some extra time before beginning a renovation project is always recommended—especially if it’s been less than 6 months since moving day! While it might be tempting to jump right into transforming each room as quickly as possible, waiting until after you settle in will give you ample time for planning, save money on unnecessary expenses due to poor decision making, provide insight on how best to utilize specific rooms based on lifestyle habits, plus offer plenty of chances re-evaluate any potential choices made along the way. All these reasons will ensure that every renovation decision made is one that won’t soon be regretted!
Choose the Perfect Color Palette For Your Home (Like a Pro!)
Choosing the perfect color palette for your home can seem like a daunting task, but it doesn’t have to be! With a little know-how, you can create a cohesive and stylish look that will make your house feel like a home. Here are a few tips to get you started:
Choose a Color Scheme From the Largest Pattern in the Space
When you walk into a room, the first thing you notice is usually the largest pattern in the space. This could be a piece of furniture, an area rug, or even the wallpaper. Once you’ve identified the largest pattern, you can use that as your starting point for choosing a color scheme.
Decorate From Dark to Light, Vertically
Another helpful tip is to start with the darker colors when decorating a room. Paint your walls first, then add in darker-colored furniture and accessories. This will help create a sense of depth and dimension in the space. You can then add lighter-colored items as accents. This will help brighten up the room and make it feel more open and airy.
Start With the Formal Areas of the House
If you’re not sure where to start when it comes to choosing a color palette, begin with the formal areas of your house. These are typically the spaces that get used the most when entertaining guests, so you’ll want them to make a good impression. The living room and dining room are usually good places to start. Once you’ve established a color scheme in these rooms, you can carry it throughout the rest of your house for a cohesive look.
Use the Color Wheel
The color wheel is a helpful tool when choosing colors for your home. It can help you find complementary colors, which are colors that are opposite each other on the wheel. These colors work well together because they create visual interest and contrast.
Make Small Spaces Pop
One of the best ways to make a small space feel bigger is to use light colors. Light colors reflect light, making the space feel open and airy. If you want to make a small space feel bigger, try painting it a light color like white, cream, or pale blue.
Contrast Warm and Cool
Another way to create an inviting space is to contrast warm and cool colors. Warm colors like red, orange, and yellow create a cozy feeling, while cool colors like blue and green have a calming effect. Try painting one wall in a warm color and the other walls in a cool color for a balanced look.
Follow the Rule of Three
When choosing paint colors, it’s important to remember the rule of three. This rule says that you should only use three colors in your space. Too many colors can be overwhelming, so stick with three or less. Use one color for the walls, one color for accents (like pillows or art), and one color for trim (like baseboards or door frames).
Creating a Home You Love
Don’t let choosing a color palette for your home overwhelm you. By following these simple tips, you’ll be well on your way to creating a space you love.
The Hidden Costs of Buying a Home (That No One Tells You About!)
So, you’re finally ready to buy a home. Congrats! Homeownership is a huge milestone. But before you start packing your boxes and planning your housewarming party, there’s one important thing you need to do: figure out how much it’s actually going to cost you.
Sure, you know that you’ll need to come up with a down payment and pay closing costs. But there are also a number of other prepaid expenses that can come as a surprise to first-time homebuyers. In this blog post, we’ll break down some of the most common prepaid expenses and help you get a better understanding of what you can expect to pay when you buy a home.
Homeowners Insurance Premium
One of the most important prepaid expenses when buying a home is your homeowners insurance premium. Homeowners insurance protects you from financial loss in the event that your home is damaged or destroyed by fire, wind, vandalism, or another covered hazard. Most lenders require borrowers to have homeowners insurance in place before they will close on a loan.
The amount you’ll pay for your homeowners insurance premium will depend on a number of factors, including the value of your home, the location of your home, and the type of coverage you choose.
Specific Hazard Insurance
In addition to general homeowners insurance coverage, you may also need to purchase specific hazard insurance depending on the location of your home. For example, if you live in an area that’s prone to flooding or wildfires, your lender may require you to purchase flood or wildfire insurance.
The cost of specific hazard insurance will vary depending on the type and amount of coverage you need. However, it’s important to note that even if your lender doesn’t require you to have specific hazard insurance, it’s still a good idea to consider purchasing it. After all, it’s better to be safe than sorry!
Property Taxes
Property taxes are another common prepaid expense when buying a home—and one that can often come as a surprise to first-time buyers. Property taxes are levied by state and local governments and are used to fund public services like schools, roads, and parks.
The amount of property tax you’ll pay at closing will depend on the state and county in which your home is located, the assessed value of your property, and when you purchase the property.
Mortgage Insurance Premium
If a lender requires you to take out mortgage insurance (MI), then the premium could be included in your prepaid costs. Mortgage insurance is insurance that protects the lender in the event that you default on your loan.
Mortgage insurance is typically paid monthly as a part of your mortgage payment, but you might pay a lump sum at closing in addition to the monthly payments.
Initial Escrow Deposit
In addition to the prepaid expenses mentioned above, you’ll also need to make an initial escrow deposit at closing. This deposit is used to establish your escrow account, which is used to pay your property taxes and homeowners insurance premiums on your behalf each year.
Be Prepared
There are a lot of things to factor in when you’re buying a home. It’s not just the list price that you need to be aware of, but also the prepaid expenses. Homeowners insurance, mortgage insurance, and property taxes can all add up. Be sure to factor in these costs when you’re budgeting for your new home so that you don’t end up being surprised down the road.
