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Learn About Denison HomesQualifying the Buyer for your Denison PropertyEither you or your agent will want to weed out potential buyers who cannot afford to purchase your Denison 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. Denison Home ImprovementDon't underestimate how much projects will cost. Expenses usually are added, not subtracted. Homeowners, even Denison 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 Denison. Denison Real Estate Title InsuranceBuyers in the Denison market can be tempted to save money by foregoing a title search but the risks are heavy because title problems are many and varied. Some typical problems that title searches have uncovered include a second mortgage on a home that does not appear to have been paid off. The sellers borrowed money years ago from a parent who insisted that a second mortgage be recorded. The loan was repaid but the title wasn’t cleared. Another typical Denison problem occurs when an owner had work done on the property but for one reason or another failed to pay the contractor in full. The contractor filed a mechanic’s lien on the property and it has never been removed. These are liens on the property and if you take title to a property without clearing these liens or encumbrances, you may be responsible them. Building Denison Home EquityAs a Denison homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Denison home equity, you gain $3,600.00. The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Denison home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about Denison home appreciation values in your area, please call or E-mail me today. Buying a Denison Fixer-UpperSome Denison investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Denison fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot. Best to know the extent of the job and whether or not you are up to it before you buy. Some Denison fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Denison homes that need minor structural repairs such as roofing are also fairly easy to cost estimate. Denison DEDUCTIONSOne of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Denison loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters. |
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