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A great step in improving your overall financial situation is to take a look at your assets. This can include your loan to value ratio for your home. A great way to improve this number is what experts in the industry call flipping your home. There are many indoor and outdoor cosmetic changes that can be made to you home that will increase the overall appraised value. Let’s take a look at just a few.

First walk outside. Stand at the curb (look both ways first) and take a look at your house. If you use the garage entrance in the back, you can sometimes not realize what your house looks like form this angle. Remember, when an appraiser pulls up, this is the first impression they are going to have on the home. Make it a good one.

Now do a walk through of your home as the appraiser would. Do you have a leaky roof? Is the chimney in good condition? Replace damaged bricks around the house and also check your gutters and downspouts. Check the homes foundation. Verify that water drains away from the house and not toward it. If you can’t tell right now, check the next time it rains.

Next check plumbing and electrical work. If you have 2 prong ungrounded outlets in your kitchen or bathrooms make sure you upgrade to GFCI outlets.

Back outside make sure you lawn is green and healthy. While maintaining the perfect lawn outside isn’t easy, you can at least seed and water it. If you prefer faster results, but precut grass pallets from your local home improvement store. Then, cozy the place up a bit. Annuals make a great addition to landscaping and are extremely easy to maintain. If you have not foundation level buses, not only do that really help in making the place inviting, but they are usually very cheap to but at your local nursery.

Bring out the pain cans. Freshen up your front door, exterior walls, and certainly inside your home. Don’t go too bold. Your appraiser or real estate agent sees many houses and while they do remember the one with hot pink walls it isn’t for a good reason.

Lastly, update your appliances and countertops in the kitchen. It is costly, but you can usually see your return fairly quickly. Laminate hardwood flooring is the best replacement for worn out carpet. You can install it yourself and it also won’t break your budget.

Have you ever considered renting out your extra bedroom to supplement your income? More and more people are doing it. A great place to start is by calling up the college in your city, and asking to have your name added to their tenant list. They will ask you a series of questions that you will need to have already thought out. For example: Are you going to charge a deposit? How much will you charge for rent? Is there kitchen access? Will they have access to a laundry area? Will they be required to come in at a certain time of night? You can also place ads on other online sites and the local paper announcing that you have a room available for rent. Make sure that it is obvious that this isn’t a roommate situation; you are simply renting out a room in your personal home.

Some landlords, especially elderly couples, rent out a room at a discounted rate to tenants who help with household chores that may be harder on the landlords. This could include yard work, trash, babysitting, etc.

Make sure that before your new tenant moves into the room you have provided, it is comfortable and clean. You want your tenant to feel at home, and look forward to coming to a comfortable and cozy area. You may or may not provide furniture. If you do, make sure that you offer up a television with cable or satellite service, and certainly a decent bathroom.

Always provide a rental agreement. This agreement should be inclusive of the room, the house, including kitchen, laundry, parking, noise, pets, curfew, and any other rules that may be important to you. Make sure that your tenant has read all of the rules, and ask if they have any questions or concerns. Be willing to amend some items that may be custom to the tenant. For example if they work at a gas station until 11pm, work with them on that.

This agreement can be month to month, every three months, or for the entire semester. Make sure that both you and the tenant are comfortable with everything, and you both sign and keep a copy. Hopefully, the relationship will go smoothly, and you will be able to keep this tenant for a long amount of time. Keep in mind that during vacations you may have some quiet time. Be open and honest about everything, and provide a comfortable home for them to come home to.

Most people dream of owning their own home one day. It is part of the American Dream, with just the idea of being a homeowner conjuring up idyllic mental images of white picket fences and the family dog playing in the yard. If you’re thinking about buying a home, you need to make sure you’ve got all of your ducks in a row in order to avoid hurting yourself financially.

The first step to take is to check your credit score. Most people require a loan to buy a home, and you will get a better mortgage if your credit is in good shape. Start by getting a copy of your credit report and examining it closely to check for problems. If you discover any issues, take steps to correct them right away before attempting to get your loan.

The next step to take has several layers. Before you begin the actual house hunt, you need to figure out what you can afford. There are many tools online that you can use as a tool to determine this, by calculating a figure based on your personal income, expenses and other circumstances. In addition to that, it’s wise to get a professional real estate agent that you can trust to help you make the right decision for you and your family. Along with the calculator and agent, you’ll want to get pre-approved for your loan. Getting pre-approval will save you the hassle of looking at houses you may end up being unable to afford, and should not be mistaken for getting pre-qualified. Pre-qualification is a quick glance at your finances, whereas pre-approval is an in-depth examination and therefore much more accurate.

Once you’ve got those things in order, you can begin the hunt for your dream home. Do not be tempted to aim for a house out of your price range, but do make sure that the home you finally choose is the one you want – in a good neighborhood, with good schools, and in good shape. The “good shape” part is definitely important, so you do not find yourself having to make expensive repairs down the road that end up making your great deal not so great after all.

Buying a home is a big step and an exciting time in anyone’s life. With careful preparation and attention to detail, you’ll end up with the home that you can afford and suits you perfectly, without any unnecessary grief.