Janice Walker's Blog
Buying a luxury penthouse isn’t just about finding one perfect thing about it. Several other factors come into play when deciding where you might live for many years. If everything isn’t just right, you may end up with buyer’s remorse. Buying a penthouse is different from buying a house in that you have to share several features with others.
The most important part about finding a great luxury penthouse is the location. You could have a luxury penthouse in a part of town that isn’t the best. While you might be safe in the building and your penthouse, your vehicle might not be quite as safe. And, when you have guests, you don’t want the outside of the building and the area around the building to look trashy, even though the inside is ultra-luxurious.
The view goes right along with the location. You are paying top dollar for the penthouse. You should have some benefits for the price you pay, even if money is no object. A building might have a great view on one side, but if your penthouse is not on that side of the building, you won’t get the view. Be sure the view isn’t overlooking a bad part of the city. Not only will you be looking at an eyesore, but the sounds and smells could keep you from enjoying the penthouse.
Your penthouse should have a good-sized balcony. If you want to grill out or just sit outside and get some fresh air, you won’t have to go all the way downstairs to do it. The balcony should have a sturdy railing, the cement or wood should be in good condition and it should not smell. Previous owners could have let their animals out to do their business on the balcony instead of walking them.
The Floor Plan
As with buying a house, a penthouse should have a floor plan that is perfect for you. If you enjoy entertaining, pick a floor plan that has enough space, preferably an open plan for the living room, kitchen and dining room. A split floor plan is also nice, as it separates the master from the other bedrooms and gives you privacy whether you have kids or have guests that stay over. If you have guests that stay over, you might look for a floor plan that includes more than one master suite.
In some cases, a penthouse may not have convenient parking, whether the parking is outside or in an adjacent building. The penthouse you choose should have parking in your building. Also, management should allocate plenty of parking for guests. You would need at least two spaces for yourself if you have a family and drive two vehicles. Guest parking should also be in the same building.
Before you list your house, you'll need to establish a competitive price for it. That way, you can increase the likelihood of stirring up plenty of interest in your house as soon as it becomes available.
Now, let's take a look at three best practices for pricing your home.
1. Evaluate the Real Estate Market
The current real estate market's conditions can impact your ability to sell your residence. However, if you study the real estate market closely, you can differentiate between a buyer's and seller's market and plan accordingly.
In a buyer's market, the number of home sellers exceeds the number of homebuyers. As such, you likely will need to establish an aggressive price right away to separate your house from the competition.
On the other hand, a seller's market favors home sellers over homebuyers. If you're operating in a seller's market, you may be better equipped than ever before to earn a significant profit.
To differentiate between a buyer's and seller's market, examine the prices of recently sold homes and available homes in your area. This housing market data can provide deep insights into the current state of the housing market. Plus, this data can help you understand how your residence stacks up against the competition.
2. Conduct a Home Appraisal
Ultimately, a home appraisal can make a world of difference for any home seller, at any time.
During a home appraisal, a professional appraiser will examine your house both inside and out. Then, this appraiser will offer a valuation of your property based on his or her findings.
A home appraisal involves an evaluation of the current condition of your home, your house's age and your neighborhood. Therefore, if you complete a home appraisal, you should have no trouble using the appraisal results to help establish a fair price for your residence.
3. Collaborate with a Real Estate Agent
When it comes to selling a house, there is no need to work alone. Fortunately, if you collaborate with a real estate agent, you can receive expert insights into all aspects of the home selling cycle.
A real estate agent is happy to meet with you and learn about your home selling goals. Next, this housing market professional will offer home pricing recommendations, ensuring you can make an informed decision about how to price your house.
In addition, a real estate agent will go above and beyond the call of duty to ensure you can enjoy a seamless home selling experience. This housing market professional will promote your residence to large groups of homebuyers, set up home showings and open houses and put together an engaging and informative home listing. Also, a real estate agent will always keep you up to date about any offers on your home.
Looking to list your home in the near future? Use the aforementioned best practices, and you can establish a competitive price for your residence and boost your chances of a fast, profitable home sale.
After you receive an offer to purchase your house, you likely have only a short period of time to make your decision. Ultimately, determining whether to accept, reject or counter a homebuyer's proposal can be tricky. But if you plan ahead, you should have no trouble performing a comprehensive analysis of a buyer's offer, regardless of how much time is available.
Now, let's take a look at three tips to help you review a homebuying proposal.
1. Weigh the Pros and Cons
Creating a pros-cons list may prove to be ideal, particularly for a seller who is struggling to decide how to proceed with an offer. With this list in hand, you can evaluate the advantages and disadvantages of accepting a proposal and determine the best course of action.
Furthermore, it may be beneficial to assess your homebuying goals relative to an offer. If you goal is to maximize your profits, for example, you may want to accept an offer only if it matches or exceeds your house's initial asking price. Or, if your goal is to move out of your current residence as soon as possible, you may be willing to accept a proposal, even if it falls short of your home's initial asking price.
2. Assess the Housing Market
Housing market data is readily available that may help you make the best-possible decision about a home offer. If you analyze this information closely, you may be better equipped than ever before to decide whether a buyer's proposal is "fair" based on the current real estate market's conditions.
Oftentimes, it helps to conduct a home appraisal before you list your residence as well. Following a home appraisal, you'll receive a property valuation that may help you price your residence and evaluate home offers down the line.
3. Consult with a Real Estate Agent
There is no need to examine a home offer on your own. Instead, collaborate with a real estate agent, and you can receive expert recommendations as you assess a homebuying proposal.
A real estate agent is happy to work with you at each stage of the home selling process. This housing market professional will make it simple for you to list your house and promote it to the right groups of buyers. Next, a real estate agent will set up home showings and open house events to showcase your residence. And once you receive an offer on your house, a real estate agent will allocate the necessary time and resources to help you make an informed decision.
Lastly, if the first home offer that you receive fails to impress, there is no need to worry. You should not feel pressure to accept the initial offer on your house. In fact, you can always counter this proposal to set the stage for negotiations with a buyer, which could increase the likelihood of a successful home sale.
Get ready to review a homebuying proposal – use the aforementioned tips, and you can fully assess any offer that you receive.
You’ve spent months scouring home listings and viewing houses. Once you found your dream home, you signed the contracts and successfully closed. Congratulations! It’s time to get started on this next exciting chapter of your life.
While you’re probably eager to move your belongings into your new home, it’s a good idea to pause for a moment and plan to give your new house a deep cleaning. Here are five areas you’ll want to focus on before you start hauling in your possessions.
Bathrooms are a priority because you’ll want to eliminate any potential germs lurking about. Even if everything looks clean, you can’t know for sure if it’s only been surface-cleaned, so you’ll want to give it your own deep cleaning. This way you can ensure any bacteria or other icky germs aren’t lingering. Focus on the toilet, sink, and tub. Don’t forget the toilet seat—ideally, install a new one.
Tip: Change the shower curtain and liner or, if you’re keeping the existing curtain because it matches the décor, give it a good machine wash.
Kitchens are another room where germs tend to linger. To start, clean the interiors of the oven and refrigerator. Next, use disinfectant to wash down the sink, faucet, counters, cabinets and all appliance exteriors. Don’t forget any handles and knobs.
Once you’ve got the kitchen clean, cover the cabinet and pantry shelves with new liner. Not only will it help protect your dishes and other wares, but it’ll give these spaces a fresh clean look and feel when you place your items in it.
3. Floors & Carpets
If you aren’t immediately replacing carpets, give them a deep cleaning with a rug cleaner. If you don’t own or have access to one, you can rent one from a grocery or hardware store. Wash any hardwood floors. To avoid harsh chemicals, you can use water and white vinegar, they’ll eliminate most bacteria and remove most dirt and grime.
Give the bathroom and kitchen floors additional attention by thoroughly washing these floor surfaces with a disinfecting cleaner. Be sure not to miss any nooks and crannies. Clean tile, vinyl or linoleum with a bacteria-killing cleaner and don’t forget any grout—a baking soda paste works nicely.
4. Air Filters
It’s hard to know when air filters were last changed. It’s always a good idea to replace them, just to be on the safe side. Mark the filters with the date, so you know when it’s time to swap them out again.
Tip: Don’t forget the vent filter above the stove if you have one.
5. Door Knobs
Door knobs are easy to overlook but they are a prime area for lingering germs. Go through your home and disinfect doorknobs, cabinet pulls and drawer handles. Don’t forget the handles on sliding glass or shower doors.
Tip: Use disinfectant wipes on doorknobs if you’re short on time
Once you’ve given your house a deep cleaning, you can confidently move your possessions into your home with a fresh, clean start.
Termites are one of the worst possible nightmares you can face as a homeowner. These common insects can cause major structural damage right under your nose and eventually lead to thousands of dollars in repairs. Because they live in underground nests and inside the foundation of the home, it can be difficult for homeowners to identify termites before serious damage has already been done. However, it is possible to save yourself lots of time and money by preparing your home for a termite infestation before they strike. Keep reading to check out a few of our top termite prevention tips.
Termite Prevention: What to Do Before an Infestation
Although it’s not always possible, for those who are building their new home, termite prevention works best during the planning stages. If possible, utilize a Basaltic Termite Barrier (BTB) which is made of rocks that are packed together so tightly under the home that termites are unable to penetrate the barrier. For those who aren’t able to be part of the planning stage for their new home, you can still look for builds that include BTB, termite mesh, steel frames or termite-resistant wood framing materials.
Preventing Termites in Existing Homes
There are many other steps you can take to help prevent termite infestation in homes that have already been built. A good place to begin your termite prevention is to work at reducing all possible wood-to-soil contact around the structure. Homeowners should take the time to remover any wood, lumber, plants, cardboard and paper from around the foundation. If possible, create at least a 4-inch barrier with non-wood mulch around the perimeter of the home. As a good rule of thumb, only your concrete foundation should be touching the soil, ensuring that siding begins at least 6-inches above it.
Plants and foliage should always be kept a few feet away from the home. Structuring storm drains to empty several feet from the foundation will not only help to prevent moist soil but it can keep termites at bay as well. Excess moisture is the enemy of a termite-free home, so it’s essential to do everything you can to eliminate any sources of additional moisture on the property. This can include fixing leaky faucets promptly and staying on to of HVAC maintenance year-round.
Termite Signs to Look Out For
Regular termite inspections can also help to catch an infestation before it spirals out of control. Homeowners should inspect the property regularly for signs of “frass” or “carton,” two types of termite waste left behind by drywood and subterranean termites. Additionally, patterns in the wood around the home can help to identify different types of termite infestations. Subterranean termites prefer to eat softwood between the grains. But drywood termites much prefer eating across the grains without any distinguishable patterns.
Call in the Professionals
If you’ve followed these preventative steps and still think you have a termite infestation, you need to reach out to a professional extermination team. While DIY methods can be tempting, when it comes to protecting the integrity of your home, professional advice should be considered.