1. Give it a good clean

The outdoor surfaces of our homes often don’t get the same amount of love as the interior when it comes to cleaning. After all, it’s inevitably just going to get dirty again. All that dust and dirt builds up though, so consider investing in a heavy-duty cleaning before listing your home. Pressure washing your driveway, siding, and porch can make a noticeable difference in your home’s appearance. Plus, it gives you a better idea of what else might need to be replaced or repaired to boost your curb appeal in other ways.

2. Repaint

You knew this one was coming. If the exterior paint on your home is looking a little worse for wear, we recommend a fresh coat of paint before you list your home. And if you don’t have the time or budget to repaint the whole exterior, consider making a statement by painting just your front door in an accent color.

3. Hang window boxes

Window boxes are long, narrow planters designed to showcase flowers or plants right below your window. You can find one that fits your style at most home and garden stores. Or, if you’re feeling crafty, gather up the supplies and build them yourself! Window boxes can add color, dimension, and charm to your home’s exterior and really dress up your outdoor space.

4. Don’t skip the landscaping

First things first, mow that lawn and prune your trees. And if the front of your house looks a little bare and boring, liven it up by planting flowers. We recommend perennials, not annuals, because perennials grow again in the spring without needing to be replanted. Annuals, on the other hand, must be replanted every year. Other factors to consider are the plant’s sunlight, shade, soil type, and water needs. It’s important to find out what kinds of plants would survive in your front yard and porch before you plant.

5. Hang potted plants and greenery

Speaking of plants, do you have a covered front porch? You could maximize that open space and hang planters from your porch ceiling. It’s a great way to improve your curb appeal and it adds dimension, drawing eyes upward. Get creative and hang planters of different colors, sizes, and shapes that reflect your home’s personality. Take the look a step further by planting draping greenery like ivy or pothos plants.

6. Give your mailbox a makeover

Paint your mailbox to match your front door. Plant flowers at the base of the mailbox post. Sand and varnish, repaint, or replace the post—the list goes on. There are countless ways to bring your mailbox to life and any one of these creative touches can make it stand out from the rest of the block. Just don’t go overboard personalizing it to the point that potential buyers couldn’t see it as their own.

7. Replace gutters and downspouts

Replacing gutters and downspouts might not be the most glamorous of updates, but it impacts your home’s curb appeal more than you might think. Even if your gutters don’t need to be fully replaced, cleaning and securing any areas that are not attached to the home properly will give your potential buyers one less thing to worry about in terms of the home’s functionality.

8. Replace hardware

From light fixtures to doorknobs to your address numbers, refreshing the finishes on your outdoor hardware can give your home an instant lift. This is also an easy DIY update that takes minimal time if you’re wondering how to boost curb appeal on short notice.

Any other tips on how to boost curb appeal?

Maybe the biggest rule of prepping your home for sale is to keep your decor choices—inside and out—neutral. Buyers should be able to envision the space with their own belongings and tastes, and that’s hard to do if your personal style is on display. When it comes to curb appeal, here are a few things to avoid:

• Lawn decorations
• Visible garbage/recycling cans
• Window decals

Sorry to your lawn gnomes, but it’s not their time to shine. For more tips on nailing your home sale or boosting curb appeal, reach out to our team anytime.

Whether you’re selling your home or you just want to put your best foot forward for your HOA, curb appeal can make a big difference in how your home is perceived.

The post How to Boost Curb Appeal in 8 Easy Steps appeared first on Cardinal Financial.

Depending on the date of closing, the amount of property tax that a homebuyer and seller are responsible for will vary. The process of figuring out who pays how much is called tax proration, and it’s one cost that many buyers overlook when calculating their cash to close.

What is tax proration?

Tax proration is when property taxes are fairly divided between buyer and seller based on the date of ownership transfer or closing.

Simply put: Tax proration helps level the playing field. Property taxes on homes are often billed at the beginning of the calendar year for the year prior. So in 2024, you’d get a property tax bill for 2023. Let’s say you bought and closed on a home in November 2023. Should you be responsible for the property taxes owed on that home for the months before closing? Didn’t think so. Enter tax proration. 

Tax proration involves a bit of math to figure out how much of the bill each party is responsible for. Here’s where it gets more complicated: Homeowners (or the sellers) don’t typically pay their part of the property tax bill directly. Depending on the date of closing, or the particular situation, you have a couple of payment options to consider.

How to pay property taxes with tax proration

Tax proration pro-tips

Before you close on your home, keep these three tips in mind.

• Leverage: Depending on the market, the property tax bill could be used as leverage. In a seller’s market, where there are tons of competing bids, motivated buyers might offer to pay the seller’s portion of property taxes to get a leg up on the competition or expedite the sale. In a buyer’s market, the seller might offer to pay the entire property tax bill in exchange for coverage of other closing costs.
• Exemptions: Age and disability status could come with tax implications, for yourself or the sellers. Those implications affect tax responsibility. For example, perhaps the seller is a disabled senior citizen. Local laws might have provided relief for that person—relief that is unlikely to be passed on to the buyer. Communicate with your team to determine potential roadblocks.
• Projects: New builds, rehabilitation, and renovations will result in different tax assessments. New builds may not have received a tax assessment at the time of closing, and since there was no previous owner, the buyer would be responsible for an entire year’s worth of taxes. Rehab and renovation projects increase a home’s value, which could result in an increased tax bill. Make sure your assessment is up-to-date to avoid any surprises.

How to pay property taxes post-proration

After you’ve calculated and paid your initial prorated tax bill, you’re responsible for annual state and local property taxes for as long as you own the home. You may be able to deduct those property taxes (up to a certain amount) when it comes time to file your tax returns. Individually, you can deduct up to $5,000 in property taxes. Filing jointly? Double that figure and enjoy a $10,000 deduction.

Keep in mind that property taxes vary depending on where you live and other factors, so there’s no single correct way to go about it. Consult a tax professional, do your research, and don’t take shortcuts as you take on this part of homeownership. Ok, now that we got the serious part out of the way: Deep breath. You’ve got this!

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before making the decision to buy or refinance a home.

The post Tax Proration: How to Pay Property Taxes Like a Pro appeared first on Cardinal Financial.

7 Home Staging Tips to Nail Your Sale

• Depersonalize
• Declutter
• Optimize lighting
• Choose a scent
• Set the table
• Increase your curb appeal
• Complete renovations

1. Depersonalize

One of the first things you need to do to stage your home is depersonalize. Take all your family pictures off the walls and remove any type of religious, political, or personal odds and ends that make your home feel lived in. Prospective buyers should be able to picture themselves living in your house. Additionally, stick to a neutral color scheme when it comes to the decorative accents you leave out.

Pro Tip: Selling during the holidays? You don’t have to miss out on decking your halls. Try these neutral winter decor ideas.

2. Declutter

Unless you’ve already moved into your next home, you still have to live in your current one while keeping it showing-ready. A deep clean every time your real estate agent brings someone over might not be sustainable, but at the very least you should maintain a decluttered environment. Decluttering can make your home appear bigger than it is, and generally help potential buyers envision how they might use the space. Before you list your home, move extra items to a temporary storage unit (or get rid of them altogether to speed up packing).

3. Optimize lighting

Lighting influences our mood more than we realize. In terms of home staging tips, the amount of light plays a big factor in whether somebody buys a home. A well-lit home can feel larger, cleaner, and more inviting when it’s being shown. To stage your home for sale, replace old light bulbs, clean your windows, open the blinds, and embrace the natural light.

4. Choose a scent

This one’s especially important if you have pets (or kids for that matter). If your home is carpeted, consider getting it replaced or deep cleaned before you list your house. You can sprinkle some baking soda to neutralize carpet odors as well. If you want to add a scented candle or oil diffuser to the mix, just make sure you choose something that’s not too overpowering.

5. Set the table

Don’t worry, there’s no cooking required for this home staging tip. You’re showing your home, not hosting a dinner party. However, setting the table is a welcoming touch that can make your house feel more like home—and help a potential buyer picture their own family living there. You can skip the cutlery, but a seasonal centerpiece on the dining room table is never a bad idea. 

6. Increase your curb appeal

When you’re selling your home, first impressions matter. That’s why curb appeal is important to consider when staging. At the very least, make sure your lawn is manicured and the exterior of your home is clean. If you’re selling during the holiday season, keep your outdoor decor neutral. Some warm-toned white string lights are always a winner. A flashing neon tableau of Santa gracing the nativity scene with his presence, on the other hand? Save it for next year.

7. Complete renovations

You don’t want to invest a large amount of money into a home just to sell it. Still, it’s important to finish up any ongoing projects before listing. Some common repairs include leaky faucets, damaged screens, and clogged drains. Anything that could deter a potential buyer from loving your home should be fixed. If you’re not sure which repairs to prioritize, check out our breakdown of what NOT to fix when selling your home.

Bonus home staging tips

Before you go, we’ve got a few more tips on how to stage your home for sale.

• Mount mirrors on your walls to amplify light and space
• Don’t shove everything in your closets, as buyers will likely be checking these spaces
• Give each room a purpose (that guest bedroom/home gym/office’s days are numbered)
• Incorporate house plants throughout

Your home can’t be everything to everyone, so don’t stress too much about incorporating every single piece of staging advice out there. Remember that these are just ideas, not requirements. The overall goal is simple: Help buyers see the potential in your home.

From interior decor to landscaping, the little details can make a big difference when staging your home for sale.

The post 7 Home Staging Tips to Nail Your Sale appeared first on Cardinal Financial.

7 factors to consider when you receive multiple offers on a house.

• How many contingency clauses are there?
• How is the buyer planning to pay for it?
• If the buyer is paying via mortgage, what type?
• Is the buyer pre-approved?
• Can the buyer cover the difference if the appraisal comes back low?
• Can the buyer accommodate your move-out schedule?
• How much earnest money did the buyer put down?

How many contingency clauses are there?

Contingency clauses are conditions that let buyers back out of the deal if they aren’t met. Since these conditions are intended to lower the buyer’s risk, as a seller you’ll generally want to favor offers with fewer contingencies. Some common contingency clauses to look for include:

• Buyer has to sell their current home before buying yours
• Buyer can walk away if the appraisal comes back lower than expected
• Buyer can request necessary home repairs to be taken care of before purchasing

How is the buyer planning to pay for it?

If your buyer is offering to pay in cash, this could be an incentive for you to favor that offer over one that hinges on a mortgage. Cash offers save you (and the buyer) a lot of time and paperwork. On the other hand, cash offers typically won’t be the highest you receive. If security is a priority for you though, it might still be the best fit. Keep in mind that you may not receive any cash offers, as the average buyer simply doesn’t have that much money readily available.

If the buyer is paying via mortgage, what type?

While cash is great, most offers on your home will likely entail a mortgage. The heavy lifting for their home loan falls largely on the buyer, but some loan types may be easier for you to deal with than others. For example, government-backed mortgages like FHA and USDA loans could potentially take longer to process than Conventional loans. Not ideal if you’re in a hurry to move out.

Pro-Tip: Learn more about the different types of mortgages your buyers may have here.

Is the buyer pre-approved?

In a competitive market, a pre-approval letter from your buyer is more of a need than a want. Pre-approval essentially lets you know that if you accept their offer, the buyer has financing lined up. But if everyone is pre-approved, how does it help you make your decision? This is where your own research comes in. In addition to how much the buyer is pre-approved for, you should also look into who they’re pre-approved with. Not all mortgage lenders are created equal (we would know).

Can the buyer cover the difference if the appraisal comes back low?

Gap happens. If the appraisal (an objective estimate of the home’s value in the current market) comes back lower than the offer you’re considering, that difference typically won’t be covered by the buyer’s mortgage. In other words, before you accept an offer with an appraisal gap, make sure the buyer can make up the difference.

Pro-Tip: If you find yourself on the other side of an appraisal gap, try these strategies to close it.

Can the buyer accommodate your move-out schedule?

Whether you’re looking to move out ASAP or you need more time before handing over the keys, an offer that works with your schedule will make the process that much easier. Just remember that, like most decisions in life, the date you and your buyer both agree on will probably entail some compromise. After all, your schedule isn’t the only one in flux.

How much earnest money did the buyer put down?

A buyer’s earnest money deposit is typically 1-3% of the purchase price. In a competitive market, you might receive offers with higher deposits to sweeten the deal. The purpose of earnest money is to give you, the seller, confidence in the buyer’s ability to meet the conditions of the purchase agreement. This generally means that more earnest money is better, as you get to walk away with that amount even if the deal doesn’t go through.

Any other tips for handling multiple offers on a house?

This isn’t an exhaustive list of factors to consider when selling your home, but it should help you narrow down your priorities to choose the offer that best meets your needs. In some cases, you may also want to ask:

• Is the buyer willing to pay for/handle repair requests?
• Is the buyer willing to pay your closing costs?
• Why is the buyer interested in your house? If your home has a lot of sentimental value, it may be important to know it’s being passed on to someone who will care for it as much as you do. Just be prepared for most honest answers to be “I need a place to live” and “it’s in my budget.”

In the midst of answering all these questions, don’t forget to pause, breathe, and remind yourself that out of multiple offers on a house, the best is ultimately the one you feel most comfortable with. You’ve got this!

Choosing the best offer on your house might be more complicated than you think. We’re here to uncomplicate it.

The post Multiple Offers on a House? Here’s How to Choose the Best One appeared first on Cardinal Financial.

And yet, that’s not the case. Sure, when you’re planning to sell, a few improvements here and there can help. But how do you know which projects are yours to take on and which ones should be left for the new owner? We’ve got the answers — here’s what not to fix when selling a house.

Cosmetic Changes

Do you keep track of all the year’s hottest paint colors? Are you a semi-professional (or self-acclaimed) interior designer? Doesn’t matter. While an accent wall or new fixtures can appeal to some buyers, most have their own tastes and preferences. You may love brushed nickel, but a buyer might dig gold. That baby blue home office? Someone’s going to cover it with something earthy the second they get the keys.

What most buyers are going to care about is the structure of the home. We’re talking plumbing, electrical, HVAC — all the things that make the home work. Instead of focusing on chipped paint and replacing door hardware, put that energy (and that cash) into getting the HVAC unit tuned up or replacing windows…stuff that’s going to keep the new owners comfortable.

Pro-tip: Getting the carpet cleaned is a worthwhile investment, especially if you have pets. The new owners may clean it again, but no one wants to enter an open house to be hit with the stench of wet dog.

Cracked Concrete

Curb appeal, curb appeal, curb appeal. Flowerbeds, trimmed trees, and a luscious green lawn all play a part in this, so it’s easy to see how repairing your driveway, sidewalk and walkways might be worthy investments as well.

You’d be half right.

Creating curb appeal is an important part of creating interest and reeling in prospective buyers, but concrete repairs aren’t something to focus on — especially if sidewalks are publicly owned and maintained by local government. If that’s the case, it doesn’t hurt to at least put in the request for repairs before putting your home on the market.

Amazing Appliances

If your home is home to a few old appliances, you shouldn’t worry about replacing those either unless they’re damaged, broken, or stick out like a sore thumb. It might seem like a kitchen renovation is a quick way to boost your home’s value, but it’s a costly short-term solution.

According to This Old House, minor kitchen remodels ($15,000 or less) have a return-on-investment (ROI) of 87% a year later. Major kitchen remodels (averaging nearly $40,000) have an ROI of 80% a year later. While you may recoup some — or even most — of that money if you sell within a year, you won’t get all of it back. And depending on your mortgage situation, those renovations may not lead to much of a profit.

Like cosmetic changes, new appliances can be an issue of personal preference as well. You love white appliances, someone else loves stainless steel, so what happens to the white appliances you just bought and installed?

Oh, did someone order a dumpster?

Okay, so what SHOULD you fix?

Now that you know what not to fix when selling a house, you’re probably wondering which projects you should take on. We’ve got the answers:

1. Square Footage Improvements: Whether it’s an addition or a finished basement, more square footage is one of the best ways to improve a home’s value.
2. Backyard Entertainment: Some folks like a patio, some like a deck, others opt for a pool. Turns out, a backyard deck is a low-cost method of boosting your home’s value by thousands of dollars.
3. Garage Door Replacement: Out-of-style or aging garage doors can actually bring your home’s value down. A replacement can cost less than $2,000, but can add a few thousand dollars in value to your home. Easy and affordable…what’s not to love?

Ready, set, sell.

Equipped with this knowledge, you’re ready to tackle a few reasonable side projects before handing your listing to a local real estate agent. We hope you get the biggest bang for your buck!

Every drop of sweat and every dime you put into your home should result in a price hike, right? That’s why they call it sweat equity!

The post Here’s What Not to Fix When Selling a House appeared first on Cardinal Financial.