Home tips October 10, 2022

The benefits of home staging, even in a Seller’s Market

The benefits of home staging are huge when you decide to sell your house as want to make your home appear as attractive as possible to draw in potential buyers. That might mean having the best photos of it, writing an attractive listing, boosting your cub appeal… and staging your property following these few tips.

Home staging, what is it?

Home staging is the process of highlighting the best features of a home using interior design techniques. It’s part of the home selling process and is designed to impress buyers during open houses and showings.

You can decide to take the DIY route with staging a house, or hire a professional stager, depending on you possess – or not- the skills to stage a house well. Sometimes it’s best to recruit the help of professionals, especially when dealing with a high-stakes transaction like selling a house.

Remember the greatest buzz about your house comes when it’s first listed, so you must take advantage of that first impression and make sure everything is optimized.

Why home staging is important?

Proper staging won’t just help a home appear newer and in better condition. It also allows buyers to visualize their life in this home versus going into a “seller’s home” and decoration.

When done properly, staging a home can help you sell it up to 88% faster and at a better price (average 5-15% more that non-staged property) and wether you want to sell or rent.

Some tips to stage your home

  • DECLUTTER

This is the first job you should tackle when you decide to home stage. Why so important? Because a cluttered room will look smaller, and buyers will focused more on your belongings than on the house they are visiting. Try to free up as much surface space as you can on shelves, coffee tables and especially in the kitchen.

  • DEPERSONALIZE

In many cases, home staging involves first removing personal photos and decor, evidence of pets, knick-knacks, religious images, political memorabilia… The seller can begin packing and storing their items in the garage or basement until the sale is completed. The goal here is to make it look like a model home.

  • PAINTING

Don’t underestimate the power of a new paint job on a property. It can completely overhaul the look and ambiance of any space. Just like cleaning your home, a new coat of paint is one of the most cost-effective ways to home stage your home.

  • ONE ROOM, ONE FUNCTION

If a room is staged as a combination of home office, gym and playroom, buyers can be confused about the purpose of the room.

  • SET THE SCENE

This can really envision the new life of a potential buyer here. For ex, put cookies on the oven, set the table, turn on a fireplace if it’s winter, light up some candles and put some ambiance music…

Bottom line

Benefits of home staging are numerous and is worth the investment. It helps maximize the rate of return on the sale of your property—and usually costs less than the first price reduction. With an average staging investment of 1% of the sale price, about 75% of sellers saw an ROI of 5% to 15% over asking price, according to data from the Real Estate Staging Association (RESA). Go for it!

 

Real Estate September 13, 2022

Buy or rent a property in Miami?

Buy or rent a property in Miami? If you’re weighing the pros and cons of owning a property or renting in Miami, consider what amenities you can get as a renter and where you might be able to live. Here are some things to keep in mind when deciding the best option in the Magic City.

Pros to rent a property in Miami

Test the waters

Renting a property or an appartement in Miami is a safe bet if you want to explore the Magic City without having to commit to owning a home. Moreover, you’ll have fewer living expenses and more freedom to move, before you consider settling down for good. Also, most landlords offer flexible lease options (12-month, 6-month, or even month to month).

Renting market is very large

Miami is home to plenty of luxury apartment rentals or condos that are great alternatives to buying a new home in the heart of the city.

Whether you’re looking to live in South Miami, Coconut Grove, Coral Gables or Miami Beach, you find fully furnished apartments in all these neighborhoods, complete with top appliances, 24/24 valet, fitness centers or huge swimming pools.

Little maintenance

But when you’re renting a property in Miami, the landlord is responsible for everything. Indeed,  from spraying for pests, to maintaining the AC, to fixing anything that leaks or creaks, that is not for you! Tenant will be responsible for minor maintenance like… replacing light bulbs!

 

Pros to buy real estate in Miami

Builds equity

Buying real estate in Miami allows you to build home equity. Putting equity into your home will provide you with many financial benefits.

Great ROI (Return on Investment)

Miami welcomes more than 24 million tourists every year. All this people need a place to stay. Owning a vacation property in Miami gives you a strong source of passive income through vacation-goers searching for places to stay with traditional rentals or on platforms like Airbnb.

Enjoy more room

Miami properties typically offer more space than Miami apartments. Indeed, the average size of an apartment in Miami is around 887 square feet, while the median square footage of a home in Miami is around 1,389.

Bottom line

Buy or rent a property in Miami depends on a few factors like the amount of money you have, the neighborhood you want to live in, your job security, and most importantly, your personality. To find the option that fits you the best, check on this list of properties

Disclaimer: Agency One Properties and Laure Deltin Angeletti do not provide any kind of tax, legal, financial or accounting advice. This material has been prepared for informational purposes only.
Real Estate September 6, 2022

Being a first-time buyer in Miami? What you must know

Being a first-time buyer in Miami may seem scary but the process is actually more standardized in South Florida than elsewhere. Whatever your reasons are for buying a house in the Magic City, here are some good advice to get ready to embark on the journey of homeownership. Follow the guide.

Financing for first time buyer in Miami, be ready

The loan, a long-term commitment

The average mortgage loan is 20 years! Of course, you don’t need to stay for that long in your house but purchasing a home is a major commitment. So how do you get ready?

Start asking yourself these questions:

  • Do I have a stable income?
  • Do I have enough savings to cover the payment if I lose my job?
  • Do I really want to commit to his house and neighborhood for at least 5 years?

If the answer to any of the above is no, keep working, keep saving and keep looking!

Otherwise, start on the mortgage process before making offers. The mortgage loan process can take longer than usual in South Florida, especially if you plan on financing with one of the big banks headquartered in New York.

 

The pre-approval for the first-time buyer

mortgage pre-approval is an official document from a lender that tells you exactly how much loan money you can get from them based on your financial information, such as your credit score, W-2s, or/and bank statements.

Why getting this pre-approval is important?

  • You know exactly how much home you can afford.
  • Your offer to the seller is stronger, especially if you are a first-time buyer in Miami: A pre-approval shows a seller that you have the money needed to purchase the home.

 

The house, 5 years or forever?

Think about your long-term needs and whether a starter home or forever home will meet them best. Online 3D home tours have become very popular with the COVID-19 pandemic. These tours let buyers virtually walk through a home at any hour and observe details that regular photos cannot catch. Open your eyes wide!

It’s critically important for you to verify the condition of the house as much as you can during the inspection period.

But this also includes the basics, like how much HOA or property taxes you will have to pay. Don’t forget to budget for homeowners association fees when shopping for condos and townhomes, or houses in planned or gated communities. Last but not least, save for closing costs!

TIP: Miami Dade county allows you to look up any property’s real estate tax bills in public records. This way, you can verify a unit’s property taxes before you even submit an offer!

Disclaimer: Agency One Properties and Laure Deltin Angeletti do not provide any kind of tax, legal, financial or accounting advice. This material has been prepared for informational purposes only.