5 New Homeowner Mistakes You Can Easily Avoid (And How to Avoid Them)

Becoming a first-time homeowner is one of the most exciting and stressful times of your life, even after the closing papers have been signed and key is in hand. Suddenly, you’re faced with a whole new set of challenges: how to manage a home that’s yours, not your landlord’s. There are a lot of opportunities to learn—and as you learn, mistakes will be made.

Luckily, many new homeowner mistakes can be easily avoided with a little preparation. Don’t let the following potential mistakes damper your excitement. Instead, plan ahead and keep these tips and tricks in mind as you learn the ropes of being a homeowner.

Ignoring Routine Maintenance

You likely just did a walk-through with a licensed inspector during the homebuying process, so you’re aware of what issues need attention and which can wait. That’s not where home maintenance stops. Home maintenance includes tasks you may have never thought of before, like cleaning the gutters, power-washing the house, prepping your pipes for winter and much more.

The best way to avoid missing these critical tasks, which could lead to costly damage, is to set up a quarterly or monthly maintenance schedule for all of the areas of your home. This should include indoor and outdoor maintenance as well as details like plumbing and electrical. Use this checklist from Better Homes and Gardens as a starting point to creating one that’s specific to your home’s unique needs.

Not Budgeting for Additional Expenses

Moving can be expensive but any veteran homeowner will tell you that there’s always more to budget for—and these issues seem to pop-up out of nowhere, like a broken washer right after you need to patch a leak in the roof. Plan for the unexpected by putting away extra money for emergency house needs.

Experts at HGTV suggest putting away 1 to 3 percent of your home’s purchase price each year to develop an emergency fund. They give the example, “For example, if your home cost $300,000, set aside at least $3,000 each year. Make one large deposit or spread the amount out in monthly deposits.”

Getting Locked Out

Being a new homeowner can make you more susceptible to being locked out: you have the new keys, you run out to get something and realize that the new key isn’t on your old keyring. You walk outside with the trash, forgetting that the new door locks behind you.

This mistake can lead to another one: choosing a locksmith that’s not reputable. In your hurry to get back into the house, it’s easy to forget to do your research and listen for clues that something’s not right.

That’s why experts from Lokology Locksmith share an important tip, “Ask the locksmith for an estimate prior to their arrival. If the locksmith cannot give you a quote or a price range over the phone—that should be a red flag.” This is a simple way to test whether a company is reputable to reinforce the quick research you did.

Making Major Renovations Right Away

It’s exciting to think about how you’ll make your new home feel more like yours with renovation projects. While small changes are to be expected, major renovations should wait. Give yourself time to live in the home, see how it feels, and determine what larger renovations will look like as needs arise.

For example, you may find the location of your fridge makes it hard to move around the kitchen seamlessly. This might be a focus of your kitchen renovation that would have otherwise not been considered.

Making Major Life Changes at the Same Time

 As you can see, becoming a first-time homeowner is a lot of work. Adding to that by having a baby or getting married at the same time only increases the likelihood that you’ll make mistakes or become overly stressed. If possible, leave yourself time to get to know what it’s like to be a homeowner and avoid making costly mistakes that come with being stressed, and in-turn, overlooking simple details.

Avoid New Homeowner Mistakes

There are some mistakes you can’t avoid—but many others that you can. As you get familiar with your role as a homeowner, keep these simple mistakes in mind. If you plan ahead as best you can, you’ll be able to enjoy all the excitement of owning your first home with less stress and frustration.

This is a guest post from Jessica Thiefels

Holly Hurd ~ Berkshire Hathaway HomeServices HWWB, REALTORS......your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket #hometown #hollyhurd #home
#historicnorthville #buy #buyingahome #buyrealestate #condo #homeforsale
#northvillemi #sellingyourhome #smalltown #shop #bhhs #buildahome 
#moveinmichigan #greattimetobuy #SOLD #realestateforsalemi 
#puremichigan #berkshirehathaway #sellahome

Jessica Thiefels is an entrepreneur and founder and CEO of Jessica Thiefels Consulting. She’s been writing for more than 10 years and has been featured in top publications like Forbes. She also writes for Business Insider, Virgin, Glassdoor and more. Follow her on Twitter @JThiefels and connect on LinkedIn.

You would not imagine why this FSBO did not want to list their home

When meeting with a For Sale By Owner, I always ask why they are selling on their own. Most often I hear "To save money." Although most lose money for attempting this feat. There is a new FSBO down the road, as I was picking up my SOLD sign from a recent closing on a NORTHVILLE, MI. area home, he marched over to me.

Before I could finish Good Morning, he went on how I should not even try to contact him. He said he knew all about how the seller gets bashed when selling. He even compared it to a wave knocking you down over and over while trying to swim in a storm.

I let him talk. After a bit he calmed and started asking what the home sold for. Who bought it. How did I find the buyers. Did I have any "extra" buyers that would but his home. But he is not paying a commission no way and no how. I gave him a brief insight on the market. I let him know briefly how and why buyers are attracted to me. I also let him know if he had questions he could reach out to me anytime. My assistant looked at me like I was crazy to want this yelling man to come anywhere near me again. 

Two weeks went by and guess who called. This FSBO seller has had zero offers. He had only 1 showing and they wont be ready to buy for a few years. He took 2 weeks off to pack up his house and be ready to show buyers at any time too he said. He said he hung up on any agent that called. He asked what he was doing wrong. 

There was so many things but over the phone was not the place to talk as he would argue any real advice he did not like. I asked to come over. I was not sure how he would respond, but he invited me over, NOW. 

I did go over and viewed his home. I was full of complements for his well cared for home. His premise of selling on his own was flawed. He wants to save money, but already lost 2 weeks vacation, lost time and is selling too low. I put it in writing. List for this price. The most probable price is this. Then this is the amount he should get, higher than what he was trying to sell for. 

We then went over the value of buyer agents. He did not want to talk to agents, did not want to meet them or let them in. It was good because I let them know the listing agent takes care of all that. He was smiling now as he asked more questions. It was like a relief. Then he hit me with "in two more weeks if I have not sold my way, I will list with you." His wife who sat quiet let out a roar, and went up to her room. She called me later that night and said I was the first agent to tell her husband "how it really is". She loved how I told the hard truth. She said I would hear from them sooner than later. 

The MOST IMPORTANT message to share in Real Estate, is that my philosophy is simple, to provide more personal and professional service to guide clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest.

Holly Hurd ~ Berkshire Hathaway HomeServices HWWB, REALTORS.......your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #northvillemi#sellyourhome #sellingyourhome #smalltown #shop #bhhs#berkshirehathaway #moveinmichigan #greattimetobuy#puremichigan #SOLD

The #1 Reason to List Your House for Sale NOW!

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:

“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand. 
That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.” 

The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Meet with me today so I  can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing, and able to buy right now!

Holly Hurd ~ Berkshire Hathaway HomeServices HWWB, REALTORS. ......your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #northvillemi#sellyourhome #sellingyourhome #smalltown #shop #bhhs#berkshirehathaway #moveinmichigan #greattimetobuy#puremichigan #SOLD

The Art of The Comparables

It’s the million-dollar question: What is my home worth? To figure that out, one of the main tools you and your realtor will use is nearby comparable sales that have occurred in the past year. But since no other home is exactly like yours, how do you find an apples-to-apples comparison?

Ask yourself this question: If my home wasn’t for sale, what other properties would my would-be buyer be considering? The answer to this question can help guide you to good comparable sales (A.K.A., “comps”). And finding accurate comps is critical since the home appraiser for your buyer’s mortgage lender will do the same thing. If your home doesn’t appraise for the agreed upon sale price, it’s likely your buyer will either hit the bricks or try to negotiate a lower sale price.

Ideally, you want to find homes in your specific neighborhood that recently sold—within the last 3 to 6 months—but if there aren’t any, start looking at a radius of one mile of your home, and go outward from there if necessary. Most professionals will not use a comp that sold more than a year ago since markets can substantially fluctuate during that time.

Try to avoid crossing major streets or into different school districts, since this can have a big impact on values. Also, be sure you’re looking at houses of a similar age to yours; older and newer homes may have dramatically different price points.

Finally, you want to find homes that are of a similar size and condition, with similar finishes and upgrades as yours in order to figure out an accurate price per square foot for your local real estate market.

Never fear: If you’re feeling overwhelmed at the prospect of researching comps, thankfully, an experienced realtor will be able to do much of this legwork for you! Other than location and date of sale, what do you think is the most important criteria to pick a good comparable property?

Holly Hurd ~ Berkshire Hathaway HomeServices HWWB, REALTORS......your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #northvillemi#sellyourhome #sellingyourhome #smalltown #shop #bhhs#berkshirehathaway #moveinmichigan #greattimetobuy#puremichigan #SOLD

The Most Important Quality in a Listing Agent

The Most Important Quality in a Listing Agent

This weekend I met with a family member of a past client.   Referrals from folks who have seen me in action are the best.  And even better is the fact that the referring past client used to hold a real estate license.  This past client knows what's involved in getting a home under contract and then to closing.  It's no small task.  So the ground work laid before I ever spoke with the home seller was strong.

My former client let me know that her family member Sarah, was also talking with an agent very much pushing the "local expert" line.  I do the same thing in my neighborhood, but I have an extensive sales record to back it up.  It turns out, that was not the biggest strength the local expert was pushing.  That agent was pushing that she had local contractor contacts.  Jane was beside herself.  She had heard tons of great things about how I work and what a great agent I am, but she was ultra concerned that I would not have local contractor contacts.  She kept fretting, "The other agent is a local expert."

During our appointment, Sarah was telling me all the things that the local expert was telling her to do prior to listing.  Some of the suggestions were downright odd.   "Make sure you get paintable switchplate covers.  No one wants a house where the switchplate covers aren't the same color as the wall."  WHAT?  Isn't a white switchplate cover easier to wipe off?  And it goes with white trim and happens to be the norm in the area.  Local expert was also suggesting very stylized lighting fixtures, that may not be plain enough to appeal to a broad range of buyers.  She was also suggesting the darkest hardwood flooring Jane could find to replace the well worn floors.  Great idea in a big open floor plan.  Not so much in a very compartmentalized home where that will make the space feel even smaller.  Had this local expert ever sold a home?

When I finally asked Sarah, a day later, who the other agent was, she wouldn't tell me.  I knew her first name so I Googled her first name, the name of the community and listing agent.  Nothing.  Was I being unreasonable to think the local expert should be showing up as such online?  After all, there's a lot more to being a local expert than having contractor connections.  In this day and age, with resources like Angie's List, it's easy to find a great contractor, or four!   So I Googled myself, Holly Hurd put in the name of my community (Northville) and listing agent.  BAM!  Results one, two, three four and so on.  So this agent had no online presence.  Not a great marketing tactic in this day and age.

With the first name only, I ran a year's worth of sales in the neighborhood and sorted them by the first name of the listing agents.  There was one sale by this expert.  That was it. Well, that explains a lot.  In total, her sales history is in many different places, making her no more an expert than me.  

Sarah is about to hire a local expert with no online presence, giving her advice on prep work that is an absolute waste of money and sporting one sale in the neighborhood.  Hey!  Local expert's got the local contractor angle handled though.  Not sure you should make your sole hiring criteria based on the contractor someone knows.  It's never been why I've been hired.  I've been hired because I market extensively online, I know the contract inside and out, I am a fierce negotiator and I don't have appraisal problems on my listing sales.  That's not to say I can't recommend, or find contractors for you.  I can.  And when I do, I can help you negotiate the lowest rates you can get.  Finding resources and negotiating is what I do and why I keep getting referred by past clients. 

Odds are, I won't win Sarah over.  Her mind seems made up and that's fine.  I truly wish her the best.  However, if you are looking for a fantastic real estate agent from Northville, Mi.  to Novi, Mi. and beyond, give me a call.  I'm happy to let you know what exactly I will do to sell your home.  If you need help finding contractors, I'll help you with that too.

Holly Hurd ~ Berkshire Hathaway HomeServices HWWB, REALTORS....... your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #northvillemi#sellyourhome #sellingyourhome #smalltown #shop #bhhs#berkshirehathaway #moveinmichigan #greattimetobuy#puremichigan #SOLD