REAL ESTATE TIPS 108: You have to flip a few stones...

When searching for a home many buyers get discouraged when they don't immediately find the perfect property. You see a property that has this but not that, perfect house but wrong location, perfect location but wrong house, it can seem like an endless cycle of disappointment. The worst thing a buyer can do in this situation is give up. Staying vigilant and optimistic can really make all the difference while navigating the housing market. Like many things in life you might have to flip a few stones before you find that diamond!

REAL ESTATE TIPS 107: Anticipate the Unexpected

When purchasing a home there are numerous fees and charges that must be paid prior to and at the closing, these fees and charges are known as "closing costs". Aside from your down payment (if you're taking out a mortgage loan) there are cost that include appraisal, title insurance charges, mortgage origination fees, property transfer fees and many others that must be paid in order to close your transaction. In most residential transactions closing costs can range from 2-5% of the purchase price, I usually advise my clients to anticipate 5% due to the fact that there are different factors that effect the amount you'll need in closing costs as every transaction is different in many ways. It's better to be over-prepared, if you come out with money left you can treat yourself to something nice!

Don't Miss Out On The IDHA 1st HomeIllinois Program!!! You could receive $7,500 in down payment assistance

ATTENTION: Don't miss the opportunity to utilize the IHDA 1st Home Illinois program, 1st time buyers (or if you haven't purchased in past 3yrs) can receive up to $7,500 in down payment and closing cost assistance. The program can help turn many potential buyers into homeowners.

REAL ESTATE TIPS 106: Add Value and Not Novelties!

One of the biggest mistakes homeowners make is updating their home without considering whether or not those updates will increase or decrease value. If you never plan on selling your home then definitely paint it purple and orange and put a fireman pole from the second floor to the basement. If resell appeal doesn't matter to you then its not an issue to go from a 3 bedroom home to a 1 bedroom with an oversized walk-in closet. If it's possible that you might sell at some point it would be more beneficial to update electric, plumbing, replace older windows, update kitchen and bathrooms (Caution: keep it simple as these two can go from smart investment to money pit in the flip of a page). Remember your home is an investment, the choices you make effect the possible return, be them good or bad.