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Is Your Low Interest Rate Holding You Back? You Have Options!

March 18, 2025 by Rhonda Costa

In today’s real estate market, many homeowners find themselves at a crossroads. They locked in an ultra-low mortgage rate years ago, but now their home no longer fits their lifestyle, family size, or future plans. The thought of giving up that great rate can feel daunting—but is staying in a home that no longer serves you really the best option? The truth is, you don’t have to feel stuck. You have choices that can help you move forward while still making smart financial decisions.

1. Buy a Home You Love

A low interest rate is great, but it shouldn’t keep you from living in a home that truly meets your needs. Whether you need more space, a better location, or a home with modern upgrades, moving could be the right decision—especially if you’ve built up significant equity.

That equity can be used to make a larger down payment on your next home, reducing your new loan balance and helping offset a higher interest rate. Plus, keep in mind that mortgage rates fluctuate. If you purchase now, you can always refinance later when rates come down, potentially lowering your monthly payment in the future.

2. Keep Your Low Rate and Rent It Out

If giving up your current mortgage rate is a major concern, consider holding onto your home and turning it into a rental property. With high demand for rental homes, you may be able to generate enough income to cover your mortgage—or even turn a profit—while purchasing a new home that better suits your needs.

Becoming a landlord can be a great way to build long-term wealth, especially if your home is in a desirable location. Plus, if property values continue to rise, you’ll benefit from appreciation on both homes, making it a strong financial move in the long run.

You Have More Options Than You Think

It’s easy to feel like your low interest rate is the most important factor in your housing decision, but it’s just one piece of the puzzle. If your home no longer serves you, it may be time to explore your options. Whether you choose to sell, rent, or make a strategic move, there’s a path that fits your goals.

Let’s talk about your situation and find the best solution for you. Send a message, and let’s explore your next move together!

Filed Under: Home Seller Tips Tagged With: Home Seller Tips, Sell Your Home, Sellers Agent

Understanding the Costs of Selling Your Home

October 22, 2024 by Rhonda Costa

Selling your home can be an exciting yet daunting process, and one of the most pressing questions you may have is, “What will it cost me?” The total expenses involved in selling a home can fluctuate based on various factors, including the sale price, any concessions you might offer to buyers, and the condition of your property. Understanding these costs upfront can help you plan better and minimize surprises down the road.

Key Expenses to Anticipate

1. Closing Costs and Commissions

One of the largest expenses you’ll encounter is the closing costs, which typically range from 2% to 4% of your home’s sale price. According to real estate experts, this means that for an average home sold in 2024, you could be looking at anywhere from $7,740 to $15,480 in closing costs. These fees cover various expenses such as title insurance, attorney fees, and taxes.

You might also consider covering some closing costs for the buyer to make your offer more appealing. While this can cut into your profits, it could ultimately facilitate a smoother sale.

2. Pre-Listing Inspections and Repairs

Many sellers opt for a pre-listing inspection to identify potential issues before they arise during the buyer’s inspection. Addressing these problems beforehand can prevent negotiations from stalling later. While a pre-listing inspection is not mandatory, your real estate agent can guide you on which repairs or upgrades offer the best return on investment. Whether it’s a fresh coat of paint or significant repairs, strategic spending can enhance your home’s appeal.

3. Home Staging Costs

In today’s competitive market, first impressions matter. Home staging can significantly impact how quickly your property sells and at what price. Staging costs typically range from $782 to $2,817, depending on the extent of the staging required. If you’re looking to save, there are also budget-friendly options your agent can recommend, such as decluttering and rearranging existing furniture to make the space feel more inviting.

The Silver Lining is Building Equity

While these costs may seem overwhelming, it’s essential to remember that many homeowners have built substantial equity in their properties over time. This equity can often cover selling costs and leave you with a profit that could help fund your next home purchase.

Why Partnering with a Real Estate Agent Is Key

Navigating the complexities of selling a home can be tricky, especially when it comes to understanding where to allocate your budget. While some expenses—like staging and inspections—are optional, skipping out on professional representation could be a costly oversight. A knowledgeable real estate agent not only helps you price your home competitively but also provides valuable insights on repairs and enhancements to attract buyers.

Ready to Take the Next Step?

If you’re curious about what costs to expect when selling your home or need guidance on the selling process, let’s connect! With the right information and support, you can make informed decisions that lead to a successful sale.

Filed Under: Home Seller Tips Tagged With: Closing Costs, Home Seller Tips, Real Estate

4 Things You Should Never, Ever Say If You Hope to Sell Your Home

December 12, 2023 by Rhonda Costa

Have you ever had a conversation with a total stranger where you said something that you regret? If you are placing your house or condo on the market, you’re eventually going to end up having to chat with potential buyers. Yes, your real estate agent is likely to do most of the talking. However, you will still have to deal with buyers who want to grill you about the home’s history, condition, and more.

With that in mind, let’s have a look at four things you should never say to someone who is interested in buying your home.

“We’re Not Accepting Offers Less Than…”

A good way to kill your sale and have a buyer walk away is to set a price floor on bids and offers. Even if the amount you are asking for is reasonable, many buyers will pass because they are offended that they’re being forced to bid above a certain price. Unless otherwise advised by your agent, it is best to let buyers feel in control of the offer process. You can always counter-offer later.

“Our House Has Been On The Market For…”

Stating how long your house has been on the market is rarely a good look. No matter how short or long the listing period has gone on, buyers don’t need to know this. Moreover, if your home has been on the market for months, knowing that may scare potential buyers off.

“We’ve Always Meant To Renovate That…”

If you were going to fix, improve, or even clean something in your home, you probably would have done it before inviting potential buyers in. Your goal is to present the house you do have in the best possible light. Try to avoid pointing out areas that a buyer is going to need to renovate or invest in later.

“We Need To Close The Sale By…”

The last thing you want to do is look desperate to close the sale and move on. Buyers and their agents are going to be looking for signs of weakness which will allow them to submit low-ball offers for your home. If you let on that you have to sell or move by some deadline, you can rest assured that you are not going to get as much when you sell.

There you have it – just four of the things you should not say to potential buyers of your home. For more tips and advice about selling your home, contact our professional real estate team today. We are happy to help.

Filed Under: Home Seller Tips Tagged With: Home Seller Tips, Real Estate Tips, Selling A Home

What Costs Can You Expect When Selling Your Home? Let’s Take a Look

September 29, 2023 by Rhonda Costa

What Costs Can You Expect When Selling Your Home? Let's Take a LookFor many people, putting their home up for sale is an exciting time. With real estate on the rise, there are plenty of opportunities to see financial gains. Unfortunately, even if you’re selling your home, there are still going to be costs involved before ownership is transferred. If you want to be prepared for what to expect, here are some costs to watch out for.

Real Estate Agent Fees

As with buying a home, there will be costs involved in selling your home with an agent who will take a percentage out of the total sale of your home. Fortunately, while this will cost money, utilizing a real estate agent will probably garner you more money than you would have been able to get by putting your home on the market yourself. If you do want a better deal, it may be worth talking to your agent and seeing if they’re willing to negotiate on their percentage.

Agreed-Upon Closing Costs

It’s not uncommon nowadays for homebuyers to request their closing costs be paid by the seller in order to secure a deal, but it’s worth understanding what these fees may consist of. While there may be fees for the home appraisal, property transfer, and title insurance, there may also be maintenance costs you’ll have to take on following the home inspection. As a result, it can be important to do any home touch-ups before you’ve set a date for the open house as these can lower the offers on your home.

Moving Costs

Even if you have a big truck and a lot of heavy lifters in your family, there’s a good chance that you’re still going to require a moving company to take care of many of your items. You may be able to minimize these costs by moving in pieces and leaving the heavier items for the movers, but if your home sale is closing quickly, this work might best be left to the professionals. It will be worth getting quotes from a handful of trusted local movers to see who comes recommended at a reasonable price.

It’s easy to get caught up in the concept of selling your home, but even along with selling come many costs you’ll want to be aware of. If you’re preparing to put your home on the market, contact your local real estate professional for more information.

Filed Under: Home Seller Tips Tagged With: Home Seller Tips, Real Estate Tips, Selling A Home

Selling Your Home? Here’s 3 Reasons Why You Won’t Want to Handle the Sale Yourself

September 14, 2023 by Rhonda Costa

Selling Your Home? Here's 3 Reasons Why You Won't Want to Handle the Sale YourselfAre you thinking about selling your home? If so, you may be weighing the pros and cons of working with a professional real estate agent. Let’s take a quick look at three great reasons why you won’t want to handle the sale yourself.

You Won’t Save As Much As You Think

Let’s start with the most common and obvious reason that homeowners try to handle their home sale: the cost. It’s true that selling your home using the services of a real estate professional isn’t going to be free. Depending on the value of your home, their commission might range from two to four or five percent of the final sale price. However, the entire reason you’re paying commission is that you’re contracting with a professional to do a job. Your real estate agent is there to both share their experience and handle all of the tasks and responsibilities with your sale. Without them, you’ll be responsible for everything from creating an online listing for your property to figuring out how to host an open house.

So while you may believe you are saving money by not paying commission, you’re going to be burning a lot of your time. If you’re already busy in your career or as a parent, that may end up costing you more in the long run.

A Professional And Objective Eye Is A Huge Plus

Objectivity is another great reason to work with a real estate professional when selling your home. If you had to answer right now, would you say your home is better than your neighbor’s? Better than all the houses on your street, even? The majority of home sellers do believe their home is “above average,” which is of course statistically impossible.

When someone has been the one painting, renovating and putting love into her home for so long, it is no surprise that she becomes attached to it. A real estate agent’s objective eye can offer a nice dose of reality and help to keep the sale moving.

Many Buyers Will Automatically Avoid Owner Sales

Are you a professional salesperson? If not, do you have experience dealing with the public? Selling your home is a significant financial transaction in which you’re going to have to meet with buyers. Moreover, from their perspective, it’s likely that your home is not the only one they’re viewing. Many homebuyers will prefer to work with a seller agent as they know the process will be smooth and professional rather than trying to negotiate directly with an owner.

These are just a few of the reasons you won’t want to go it alone when you sell your home. For more information about local home sales, contact your local real estate professional today.

Filed Under: Home Seller Tips Tagged With: Home Seller Tips, Real Estate Tips, Selling A Home

The Five Most Common Overlooked Expenses When Selling a House

September 7, 2023 by Rhonda Costa

The Five Most Common Overlooked Expenses When Selling a HouseMost homeowners are so enthusiastic about putting their home on the market and getting the price they’re hoping for that the expenses involved in selling a home are forgotten. However, it’s often said that one has to spend money to make money, and selling a home is no exception! If you’re wondering what kinds of overlooked expenses will cut into your home sale, here are some costs to consider.

Minor Renovations

There are always a few things to fix-up when it comes time to sell your home, but by establishing what will best increase your home’s value, you can make it a good investment. Instead of going it blind, create a renovation budget so any cost you incur will pay for itself.

Staging Your Home

It’s possible you may be able to get away with minimal costs when it comes to home staging, but adding a few small details can improve the overall impression of your home. Instead of spending an abundance on dressing up your home, put your time into cleaning and de-cluttering for ample effect.

Closing Costs

It goes without saying that closing costs can add up to a lot of money at the end of the day, but many people forget they’re part of the transaction. Closing costs can include anything from transfer tax to title insurance to escrow fees so it may be worth talking to your agent to see if they can give you a deal.

Real Estate Commission

It’s easy to forget, but using a real estate agent to sell your home will require you to pay a portion of your home’s sale to them. While you may be able to negotiate this percentage with your agent, it’s worth realizing that an agent will help you garner a higher price and will do a lot of the leg work for you.

The Moving Van

It might be too soon to think about, but if you have a lot of stuff and don’t want to take on the task yourself, you’ll need to hire a moving company to help you relocate. Instead of leaving this to the last minute, contact a few popular movers to get pricing, and don’t wait until the last minute to schedule your move. If you’re desperate, you’re likely to pay more.

Selling a home can be a financial boon, but there are many expenses that can come along with it. If you’re currently preparing to put your home on the market, contact your local real estate professional for more information.

Filed Under: Home Seller Tips Tagged With: Home Seller Tips, Real Estate Tips, Selling A Home

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Rhonda & Steve Costa

Rhonda & Steve Costa

Call (352) 398-6790
Sunrise Homes & Renovations, Inc.

Contractors License #CBC 1254207

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