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Newport Coast Condos / Buyer – Seller Tips
Qualifying the Buyer for your Newport Coast Property
Either you or your agent will want to weed out potential buyers who cannot afford to purchase your Newport Coast home. Items to investigate include the buyer’s debt and credit history, current income and employment, the availability of cash for a down payment, the time the buyer needs before closing on the home and the buyer’s level of interest in your home as compared to other properties.
Newport Coast Home Improvement
Don't underestimate how much projects will cost. Expenses usually are added, not subtracted. Homeowners, even Newport Coast homeowners, routinely go 20% to 30% over budget. Remember, it is common to under budget cost and time.
When remodeling for resale, don't waste time with renovations that won't pay off. If you must have a pool, you still may have to lower your expectations on who will be interested in buying. The National Association of Realtors/Remodeling magazine study has identified four renovations that show the greatest return at resale: improvements to siding, windows, kitchens and bathrooms. Remember you have a lot invested in Newport Coast.
Guidelines for Buying Newport Coast
Let’s say everything is a GO! You have found the perfect Newport Coast home. You know you can afford it and it is actually priced below what you expected to pay. What a bargain! Yes there are bargains to be found in Newport Coast. At this point it is fine to put in an offer on the property but only with a well-planned contingency. Of course, it the home is going to be financed, the lender will want a Home Inspection before agreeing to lend money on the property. However, you need to protect yourself by making an offer SUBJECT TO a clean bill of health from the Home Inspector of your choice. This kind of a contingency gives you an out if the inspector finds a problem with the roof, or foundation or other structural problem that was not apparent to the seller or to your agent. This does not mean you will not buy the house but you will have a good reason to renegotiate the price with the seller.
Bitten by the Newport Coast Home Improvement Bug?
Money isn’t everything however so that if the most important consideration for remaining in your Newport Coast home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Newport Coast house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.
Bitten by the Newport Coast Home Improvement Bug?
Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your Newport Coast home’s current value, the actual costs of moving to a different home and the estimated return on investment of the most common types of home improvement. I’ll be happy to provide you with a complimentary analysis of your home’s current value. Simply call or E-mail me whenever you are ready. As for improvements that traditionally bring the highest rate of return on investment, here are some statistics. Kitchen remodeling and adding a bath tends to bring rates of return with averaging anywhere from 85% to 95% return on your dollars spent. Compare that with the 64% return on investment for adding a home office.
What Makes Newport Coast Sell?
If your only reason for selling your Newport Coast is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Newport Coast for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.
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