Buying a Home? Keep These Hidden Expenses in Mind

The home buying process, while often a joyful experience ending for many with a beautiful new home, can often be a stressful time. Not only are factors that can drum up a lot of emotion at play — where will the kids go to school, is this location too far from family, etc — but on top of that, there are always the more straightforward, numbers-based questions.


“Will we be able to afford this monthly mortgage payment?” “How long will my commute be from here?” “Is this enough space for us to live in now — and even in three years?”


Lots of questions on both sides and everywhere in between can make it hard to remember some hidden costs that you might have to pay down the line. And not in a bad way necessarily, as some of these costs can help improve the value of the home.


Working on a home’s exterior, interior, top, bottom, inside, outside, left, right — it all has to be done at some point. The question is: “When is the last time it was done and will you need to be responsible for doing it anytime soon?” Here are some questions to consider the next time you step into an open house.


“When will the exterior of the home have to be re-done?”

If you’re really serious about buying the place, make sure you ask your inspector to take a good look during the inspection phase at whether or not the home has to be repainted anytime soon. If you do end up having to paint, remember that you might want to consider bringing in an exterior paint color expert to help you make your big purchase worthwhile. While you might not look up a color consultant right after closing, remember that for further down the line.


“Does this come with public sewer or will I need to maintain a private sewage treatment system?”

Everyone’s favorite topic, right? Keep in mind you could either be looking at a regular monthly bill as an added utility cost, or more intermittent costs such as pumping your septic tank or cleaning out your cesspool. And of course, if it’s a private system, make sure you ask the selling agent how old it is. If little information is available, assume the worst.


“How energy efficient is the home?”

Watch out for old windows that have to be replaced. Not only do they suck up warmth and throw it out into the dead of winter, but then there’s the obvious cost of installing new ones to start with. How is insulation in the home? Do the rooms you’ll be spending time in get some sun for the winter, and/or some shade in the summer? Consider your energy bills.

While there are several other factors to consider, hopefully this got you going in the right state of mind next time you tour an open house and get wow’d by the staged furniture and heated bathroom floors. Sadly, it won’t look that way forever, but if you prepare yourself for future costs, you can make sure you’re well-prepared to handle what comes your way.

3 Types of Consultants That Can Improve Your Home Value

For many people, purchasing a home will be the largest investment they make in their lives. So ensuring you can find great value in that investment will be key not only to your long-term financial health, but also your happiness as you will want to feel fulfilled and satisfied in your home throughout the years.


And as the years go on, your tastes will change, styles will change, and so will the look of your home. While there are many projects you can take on yourself, it’s also worth keeping in mind that there are experts who can help you feel even more fulfilled in your home. That’s their jobs! And not only that, but as you begin to approach the stage where it may be time for you and your home to part ways, these folks also specialize in creating financial value for your investment. This means that they can not only help you customize your home to suit your personal needs, but they also specialize in suiting it to the broader needs of any potential buyers if you are considering putting it on the market.


Home consultants run the gamut, and we think a few types in particular stick out that are worth keeping in mind to help you get the most value — not just financially but also emotionally — out of your home.

Color consultant

Having a paint color expert in your corner is really a secret weapon when considering how to extract the most value out of your home. Often when people think of painting, they can tend to think of the physical labor that goes into the process of doing the work, and less on which colors will adorn the walls for years to come. That can take up a lot of mental energy in itself if you do focus on it. And knowing which color schemes could fit your space the best and combining that either with your personal passions or understanding that you may be selling your home is the job of a color expert.

Interior designer

This suggestion shouldn’t come as too much of a surprise. Most people who have used an interior designer can attest to how good of an investment it was, so why would we leave this out? While interior designers may not specialize so much in something like paint, for example, they can complement a paint expert in creating an overall environment in your house that suits your desires.

Landscape designer

Looking to make an outdoor paradise? Good luck doing this one on your own. If you thought the labor involved with painting was difficult, how about grading, building retaining walls, choosing the right stone, and more and more — not to mention designing it and possibly getting permits to do some work? A professional landscape designer can take your outdoor space and make it a place you want to relax and enjoy anytime.

The best part is that all three of these types of consultants can work with one another. While that may sound like a lot in fees, just remember that if you truly do want to maximize the true value of your home, that may involve putting in a little extra investment to make sure the finished product is one you can truly be satisfied with.

Design Tips to Improve Your Resale Value

There are so many factors to think about when getting ready to sell your home. Circumstances surrounding your move notwithstanding, the process can be enough of a handful as it is. Which agent do you go with? How much should you list the house for? Will you be able to close in time before you move, or will you be paying two mortgages at once for some time?


It’s a lot.


A few things that are nice to think about, however, are relatively simple ways to improve your resale value without breaking the bank. So what are the secrets? Here are a few.


Color it Up

The importance of color in interior design is one of the most important factors to consider when you’re deciding to sell your home. It’s easy to forget that as much as you love, and have loved, the things that make your home unique and yours, people need to imagine themselves in the space as they go through the buying process. While neutral colors are typically go-to’s when selling since they are generally safe bets, each home — including yours — is unique. So neutral might not necessarily be the way you want to go. A color design expert could help you identify a particular color scheme here or an accent color there to really make your listing pop.


Spruce it Up

What’s one of the most common phrases in real estate — beyond “location, location, location”? “Curb appeal.” A relatively modest investment — even $500 — can reap far more than what you spent. While it won’t get you an extra $20k for your property, depending on what you clean up and how much work you do, making a great first impression for potential buyers once they pull up to your curb is well worth the investment.


Clean it Up

So many properties are staged for a reason: They make home sellers money! Investing in a modern chair you never would have budgeted for yourself before, or a cush rug that you flat out don’t like might seem like silly investment. But not unlike color experts, home stagers know how to make an impression on potential buyers. Just don’t break that chair you paid $200 for before you sell the place.


While these may seem like additional costs you don’t have the bandwidth to take on during the home selling process, consider them investments in improving the value of your home. Done correctly, and with the right professionals, you are bound to recoup what you spent — plus so much more.