Spring has finally come here in Iowa and with it, the true beginning of home buying and selling season. However, the housing market can be an intimidating place. There are so many things to consider, remember and do that it can be overwhelming. At Lincoln Savings Bank, we want to help you de-stress a little bit when it comes to your home buying or selling. Here are a few tips for people on both sides of the housing conundrum.

You should see more of these signs as the home buying and
selling season continues.

Tips for Home Buyers

Know how much home you can afford- a common rule of thumb is that you can afford a house that is up to twice your gross annual income. It also depends on six factors: income, available cash for down payment, closing costs and reserves, any debts you have, your credit score the type of mortgage and current interest rates

Find out the details- it’s best to hire someone to inspect the home you’re considering. Make sure the inspector you hire belongs to the American Society of Home Inspectors

Make the right down payment- the size of your down payment will differ based on your situation and loan type. Making a 20 percent down payment not only reduces the amount of debt you will finance, but it also waives the additional costs from having mortgage insurance

You can find more tips for buying a new home here on the Century 21 LSB Real Estate website.

Tips for Home Sellers

Price, Condition and Exposure- these are the three most important factors when trying to sell a home. The right pricing strategy can attract the ideal buyers, so be sure to do your homework on that. Cosmetic details, no matter how small, can affect the price of your home and a buyer’s willingness to make an offer, so be sure any “rough edges” are taken care of. You also want to make sure your home gets the right exposure through multiple online listings, open houses, broker open houses, advertising and quality signage.

Get your home appraised- getting the price right is difficult on your own, so use a professional appraiser to make sure the job is done right. Make sure to get any analysis in writing, and use a recommended professional appraiser.

Get your home ready to sell- de-clutter rooms, closets, cupboard and anywhere else a potential buyer will see. Give your home a thorough cleaning, and leave it looking and smelling nice. Finally, give the grass and hedges a trim to make a good first impression to potential buyers.

You can see more tips for selling your home here.

Lincoln Savings Bank and Century 21 LSB Real Estate would love to help you and your family find the home of your dreams this year. Let us know if there’s any way we can help! Until then, happy home hunting!