Sully Real Estate & Land, Inc.

July

 

 


Want to help yourself and your mortgage lender?

4 Frugal Ways To Expand
Your Living Space

Despite having outgrown their living space due to a growing family or changing lifestyle, homeowners have lost some of the freedom to hunt for a new home because of the current market. Those homeowners face a choice. Either they make the most out of their current living space or put their talent, muscle and money to work expanding it. While following these tips isn’t likely to make castles out of condos, you’ll be surprised at the amount of extra square footage available in your home.

Go Outside
Maximizing your living space may require you to think outside of the box, or home, to be more specific. If you have a yard with some useless empty space, you have a perfect opportunity to dramatically increase your living space in a stylish, fun and unique way. The absolute cheapest and easiest addition that you can do in any home expanding project is creating an outdoor room.

Almost anything you can find indoors has a counterpart designed to withstand Mother Nature. This includes drapes, rugs, seating, tables, lighting and even beds that are fade, mold and mildew resistant.

Install a premade gazebo in your backyard or outdoor area. These gazebos are priced from $1,700 up, and come in a variety of shapes, colors and styles. They feature fabric, waterproof canopies to protect your new room from rain, sun damage and other weather related problems. They can easily accommodate an entire living room set, and many are portable in case you eventually decide to move out or just want to reposition your outdoor room.

Organize and Store

One option is furniture that can double as storage such as tables and beds with drawers or ottomans with storage chests hidden inside. Another great way to declutter your home and store things is to get as much as you can off the floor. Installing shelves on your walls requires nothing more than a trip to the hardware store and a quick, simple installation that will give you more floor space. It’s also an attractive way to create the appearance of a spacious room.

Make Rooms Do Double Duty

Many rooms don’t necessarily need to be used exclusively for their intended purpose. With office electronics such as laptops and printers shrinking every year, that formal dining room you rarely use for dinner has the makings of a perfect home office or study. A simple futon can turn your living room into a guest bedroom within minutes, which in turn could free up a seldom-used extra bedroom for a game room or office. Re-purposing a garage to double as a child’s playroom is also a great idea.

Finished And Unfinished Space

If you’re not willing to bear the expense of building an addition, finishing an unfinished portion of your home, such as an attic, basement or attached garage, is a great way to add square footage at a reasonable cost. Finishing interior space is often cheaper than building an addition because you already have a roof and foundation, two of the most expensive parts of a typical addition.

Want to help yourself and your mortgage lender?

5 Reasons To Get A New Mortgage In 2015

Buying A Personal Residence

Buying Rental Property

Refinancing To Get A Better Rate

Refinancing To Cash Out

Helping A Family Member Buy A Home

Want to help yourself and your mortgage lender?

The Main Reasons For Having Moved In 2014

Move to a home
that better suits
my style 47%

Move to a larger space 45%

Move to a home that better suits
my life stage 44%

Move to a better neighborhood 30%

Move to a more
environmentally
sustainable home 27%

Move closer to a job 22%

dollar sign in lawn


3 Home Selling Tips For 2015

1. Price It Right From The Get-Go
The old-school strategy of real estate sellers crossing their
arms and holding out for a better offer will be brushed off by
most homebuyers.

2. Put Your Best Footage Forward

Prep, paint, stage, scrub and improve.

3. Be Flexible

Be ready to negotiate and offer extras
such as closing costs, paid property
taxes, remodeling work, appliances, paid association dues, a
few months of mortgage payments or even seller financing.

Want to help yourself and your mortgage lender?

How Does A Prior Derogatory Credit Event Affect Borrower Eligibility?

To be eligible for a mortgage loan, Fannie Mae requires borrowers to demonstrate that they
have re-established credit following a significant derogatory credit event, such as a foreclosure,
bankruptcy, preforeclosure sale (commonly known as a short sale), or deed-in-lieu (DIL) of foreclosure.
Minimum waiting periods must be met before the borrower is eligible for a new loan.

dollar sign in lawn

How Do I Put My Credit Score Into Words?

Very Poor 300-499

Poor 500-599

Fair 600-660

Good 661-780

Very Good 781-850

Do you have any mortgage or real estate questions? Just call me!