Q and A: The 3 Questions Most Asked by Past Clients

I believe my job doesn’t end at the settlement table, and I want to be your resource for all things real estate related even after you move into your first home. 

Below are the questions asked most by past clients who have bought a home with me. I hope the answers to these questions help you become a more informed homeowner too!

1.) Should I refinance?

The specifics about whether or not to refinance can be tricky, so the answer depends on your particular situation.

Most lenders want to see at least 20% in equity to allow you to refinance. So, if you don’t think you have the equity or don’t have the money to put down, then stop right here – refinancing is likely not an option for you right now.

There are costs that come with refinancing, typically around 1% of the loan amount, so deciding whether the refinance is worth the required investment really depends on how long you plan to stay in your home.

You can easily calculate how long the investment in the refinance will take to “pay off” vs. the reduction in your monthly payments. We can show you how to do the math to make sure you plan on being in your home long enough to break even on the upfront costs and monthly savings.

Since interest rates rose in the fall of 2022, the lenders I work with have been offering no cost refinancing once rates drop. Unfortunately, rates have not dropped at the time of this writing to make refinancing a viable option for a more affordable payment if you bought last year.

2.) What do I need to do to get my home ready to sell?

You don’t need to spend thousands of dollars to get your home ready. But, in order to make your home look its best, there are some things you can do to help it look clean, stylish, polished and ready for buyers.

Check these things off your list if you’re preparing to sell your home:

• Start packing up the non-essential things – like those skis in your mudroom.
• Give your home a deep cleaning – all those nook and crannys should be spick and span.
• Consider repainting your walls – a $30 gallon of the right color paint can do wonders for your re-sale.
• Declutter your kitchen and pantries – go ahead and toss that jar of peanut butter from 2010.
• Remove window treatments and screens – light sells!
• Make sure every room in your house serves a purpose – every room should look like it is intended to be used, even if you haven’t been using it that way. For example, bedrooms should have beds in them.
• You can skip replacing your cabinets and just paint them and install new, more modern looking hardware.
• Change out your light fixtures – this can be cheap and easy and makes a huge difference, you can even bring the new ones with you if you love them!
• Get your bathroom super clean – those stains and dirty grout have got to go.
• Reglaze your tub or sink if it looks old – get rid of that old color!

Spend less and make more of an impact, that’s my motto!

3.) Can I estimate how much I will make from the sale of my home?

Yes! I provide something called a “net sheet” when you consider selling your home. I want you to know what range to expect, financially. The net sheet details your expected expenses and proceeds after setting a listing price and takes into account the cost of selling and your mortgage pay-off so you know exactly what amount you’ll be walking away with at settlement.

I go through each one of these expenses and credits with you so you can understand what all the fees and expenses are when it comes time to sell. 

These are the three questions I hear most, but I’m curious what yours are!  Always feel free to reach out to me whenever you have a question about your home or real estate.  I’m here for you and want to be your go-to source for all things real estate.