Category: Home Improvement

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Cheap Home Improvement Projects

Ready to upgrade your home in a wallet‐friendly way? We’re here to give you lots of ideas for your next project. Rather than explaining each idea in detail, we’re going to list out 12 projects that you can take and make your own. Let’s get started!

1. Add a fresh coat of paint.

One of the simplest and cheapest ways to upgrade a room in your home is to pick a nice paint color for the walls. This can brighten and modernize your space in less than 24 hours.

2. Replace your cabinet and dresser hardware.

You’d be surprised at how much of a difference it makes to simply replace your outdated hardware for a more modern look!

3. Hang string lights on your patio or porch.

There’s nothing quite as warm and comforting as sitting under some beautiful outdoor string lights.

4. Repaint your kitchen cabinets.

If you have outdated kitchen cabinets, you might not have to completely replace them. Instead, paint them a lighter, neutral color or simply fix up the paint job that’s already done if you like the color.

5. Get a new shower curtain.

Swapping out your old shower curtain for a new and improved one is one of the cheapest ways to change the look of your bathroom.

6. Add an accent wall.

Have a room that’s a little boring? Paint one wall a bolder or darker color to make it stand out.

7. Get rid of the popcorn ceilings.

Out with the old and in with the new! Click here to learn how you can get rid of your popcorn ceiling on your own at home.

8. Paint the front door.

Upgrade your curb appeal by painting your front door to make a better first impression.

9. Replace your ceiling fans.

You can either get new fans altogether or save money by simply repainting the fans you already have to make them more modern.

10. DIY some wood shelving.

Give your kitchen the popular look of open shelving by building wood shelves for the walls.

11. Upgrade the house numbers on your front door.

This small change can make a big difference on your home’s curb appeal. Replace the old numbers with larger, modern numbers to match the look of your house.

12. Add some greenery.

One of the best ways to improve the look of your house is to add plants, real or fake, in the rooms that need a little life.

When it’s time to complete the bigger home improvement projects that might be a little pricey, Peoples Bank & Trust has the personal loan to help you get it done. Contact us or visit our website to learn more!

Peoples Bank & Trust Co.
Member FDIC
Equal Housing Lender
NMLS #407724

house for sale

How To Sell My Home Fast

The housing market is ideal for both buyers and sellers at this time of year. Things are moving quickly so in order to sell your home fast; you need to be ready to move and groove! We’ve created this blog with tips and helpful advice on how you can sell your home fast. 

Choose FSBO or Realtor 

Choose if you will be selling the home yourself (for sale by owner) or if you will be using a realtor. The realtor knows the process and can get things rolling – they may also have connections for potential buyers. But if you are selling on your own, that can save you some money. Just make sure you have things lined up in case you get an offer, such as a purchase agreement and seller disclosure. You can contact your local lawyer/law firm for help with this. 

Declutter 

The most important thing is to declutter and clean your home so it looks larger than it may actually be. People want to look at pictures or in person and feel like the home is clean and move-in ready! They don’t want to see a lot of work they will need to do right away when moving in. Lots of boxes and extra furniture in rooms can make a buyer feel overwhelmed as they won’t be able to imagine their things within your home. 

Post Everywhere 

Don’t just use Zillow and Realtor.com – post on Facebook Marketplace, your social media platforms and so on. Everyone is utilizing social media as a platform to find and buy things which means posting your home there can get widespread views once family and friends start sharing the post.  

Price Fairly 

Don’t go top dollar but don’t go too low either. Whether you are selling on your own or have a realtor, it’s important to look at comparable homes in your area to see what they are priced at and recently sold for. This will give you a good idea on what to list your home for so it’s not too high. Doing so will also set you up for the conversation on how much you are willing to go down if a price reduction is needed or a buyer wants to feel like they got a deal. 

Be Ready to Show 

When it works for someone to come see the home, make it work for you – even if you need to move things around. It’s important to make the buyer feel like seeing your home is easy so they don’t get a bad feeling about having to reschedule a showing a few times due to your schedule or issues with access to the home. The quicker you can get people in, the quicker you can get the home sold! 

We hope you find success in selling your home fast! When you find your next home, we’re ready to help with the mortgage process so you have the funding needed. 

Peoples Bank & Trust Co. 

Member FDIC 

Equal Housing Lender 

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How to Increase Your Home’s Value

Buying a home is a major achievement—and investment! Mortgage payments help build up equity in your home over time, but there are changes and upgrades you can make to your home in order to increase its value, resulting in a bigger return on your investment.

Homeowners should look for simple, cost-effective ways to increase their home’s value, especially if they plan to sell in the future. Take a look at these 5 ways to increase your home’s value and get a stronger return on your investment.

1. Spice Up the Landscaping

Whether you heard it from a real estate agent or on HGTV, curb appeal matters! You want your home’s landscaping to leave a good first impression—on future homebuyers and neighbors alike. Ways to improve your home’s landscaping include:

  • A well-maintained lawn – this is one of the first things people see and is a well-rewarded investment.
  • Neat and tidy garden – keeping your garden tidy leaves buyers thinking it’s easy to maintain, which is always a plus.
  • Clean and lighted pathway – having a clean pathway that’s lined with pretty plants or LED lights leaves a great impression. Repair cracks and pressure wash it to remove built up dirt or grime.

2. Paint, paint, paint!

One of the most cost-effective and easiest upgrades to do to your home is to simply paint it! Adding a fresh coat of paint to each room of your house gives it a newer, refreshed look and ensures that there is no discoloration behind long-standing furniture or stains left by tiny hands. Peeling or outdated paint can be a turn-off and repainting saves the prospective buyer from having to do it themselves. Focus on painting areas like the bathroom and kitchen as those tend to have more wear. Painting the interior can result in a 107% return on investment (ROI).

3. Upgrade Your Bathroom

When searching for a home, buyers consider bathrooms as some of the most important rooms in the house. Bathroom upgrades are some of the most cost effective to upgrade and ensure you get a return on your investment. Some ways you can upgrade your bathroom include:

  • Repainting walls in a neutral, modern coat of paint or removing old wallpaper
  • Painting or refinishing cabinets (or replacing them if you have more room in your budget)
  • Installing matching modern hardware on drawers, cabinets and closets
  • Upgrading lighting, faucets, showerheads, or installing a new toilet
  • Cleaning everything – rid the bathroom of rust stains, scrub all the surfaces and re-caulk areas around the shower, bathtub and tile

Keep the design neutral and light so you can appeal to as many buyers as possible, colors like light blue or gray work well. If you’re looking to save money by doing the bathroom upgrades yourself, plan for a few days of work. For every $1 spent on bathroom renovations, you can make back $1.71 in home value.

4. Upgrade Your Kitchen

Many consider the kitchen to be the heart of the home. Upgrading a kitchen can make a big difference for some buyers. Depending on your budget, you will have to choose between minor or major kitchen upgrades. Below, we’ve listed some ways you can do both:

Minor Kitchen Upgrades

  • Replacing cabinet doors and hardware (but leaving the box of the cabinet)
  • Upgrading to quartz or granite countertops
  • Installing a set of new matching appliances
  • Repainting and adding backsplash throughout
  • Putting in new flooring if existing is outdated, damaged or worn

Major Kitchen Upgrades

  • Adding an island to the kitchen
  • Installing fully new or custom cabinetry throughout
  • Upgrading to more high-end, energy-efficient appliances
  • Replacing flooring with higher quality options and adding or upgrading trim
  • Adding undercabinet LED lighting

If you’re leaning toward making major improvements to your kitchen, we can help! Give us a call or contact us via our website to discuss your financing options for upgrading your home.

5. Make Your Home More Energy Efficient

Upgrading your home’s efficiency can be more affordable than you think. Some of the most popular environmentally friendly ways to increase your home’s value include improving heating and cooling costs, adding energy-efficient lighting and appliances, upgrading windows, doors and siding. Even adding a smart thermostat makes it easier for a homeowner to control the home’s climate from anywhere and allow them to manage their energy costs more easily. Home tech investments can provide a strong selling point for your home and increase its overall comfort, convenience and functionality.

Some upgrades, such as installing solar panels, are more of an investment and you may need to consider financing options to make this upgrade happen.

How Do I Pay for Improvements?

There are several routes you can take when upgrading your home. For upgrades that need to be done professionally, or those you cannot pay for in cash, there are several financing options available.

  • Credit Card – This option may work for you if you are able to pay off the home improvements in a short amount of time.
  • Personal Loan – A personal loan is a great option if you don’t have enough equity built up for a home equity loan or HELOC. These loans don’t require you to put your home or other property up as collateral to get approved. The interest rate for a personal loan will be higher than a home equity loan, but lower than a credit card in many cases.
  • Home Equity Loan or HELOC – A home equity loan is similar to a personal loan in that you receive a lump sum of cash with a fixed interest rate and monthly payment. A home equity line of credit (HELOC) works like a credit card and comes with variable rates and a line of credit that you can borrow against.

If you’re ready to spruce up your home and increase its value, give us a call, apply for a loan or credit card on our website or schedule an appointment with our team to further discuss your options.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS# 407724

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How much home can I afford?

How much can I reasonably spend on a home? This is a question every single prospective homeowner asks before purchasing a house, and this is exactly what we want them to be asking! While buying a home is a great financial investment to start building equity and wealth, no one wants to be house poor. Create a budget for yourself by using the tips below or jump straight to our mortgage calculator. 

Save for a Down Payment and Closing Costs 

A down payment on a house is what you pay for the home up front. The larger down payment you can do, the lower your loan amount will be. Not only does a large down payment lower monthly mortgage bills, but it cuts the amount of interest you pay on the home loan over time. 

Many loan programs allow first-time homeowners to buy a house with zero money down. This is a great option for some homebuyers, but many decide not to take this route because they end up spending more money on interest over a longer period of time. 

Another upfront expense to purchasing a home is the cost to close the deal, aka the closing costs. Many first-time buyers forget to save for the additional fees that are required on top of your down payment. Fees to consider are: 

  • Loan origination fees 
  • Appraisal and survey fees 
  • Title insurance 
  • Homeowners insurance 
  • Private mortgage insurance (PMI) 
  • Mortgage points 
  • Property tax (typically 6 months of property taxes) 
  • Escrow fee to the agent who helps you close  
  • Attorney fees 
  • Miscellaneous fees 

Down payments are typically 5-10% of the house cost (20% is ideal) and closing costs are typically 3-5%. So, keep that in mind when saving for your dream home! 

Add Up Your Monthly Expenses 

Most home loans are meant to be paid off over a thirty-year period, making your mortgage payment a monthly expense. Before you decide on a budget for your new home, you need to add up your current monthly expenses to determine how much of your monthly income is left for your mortgage. Monthly expenses include: 

  • Monthly bills 
  • Loan payments 
  • Food 
  • Subscriptions 
  • Childcare 
  • Etc. 

If you have not received a raise or started bringing in supplemental income since your previous home purchase, but you want a bigger house, you’ll need to pay a larger down payment. The larger your down payment is, the less your monthly mortgage payment will be. Obviously, if you’re making more money these days then you have more monthly income for a mortgage payment. 

Calculate Your DTI 

Your debt-to-income ratio is also vital to consider when establishing your home budget. Similar to adding up your monthly expenses, DTI is the total amount of monthly debt you have compared to your pre-tax income. The lower your DTI, the more home you can afford.  

A recommended DTI is 28% of your monthly income or lower. To calculate the DTI you should aim for, use this formula: monthly income x 0.28 = DTI. Once you pay off enough debt to reach that DTI, you are likely to get approved for a better loan, depending on your monthly expenses that are in addition to debt. 

Get Your Current Home Appraised 

If you currently own a home and you’re planning to purchase a new one, it’s a smart idea to get your current home appraised. Knowing the value of your home can help you predict how much money you’ll make from it. Homeowners in the market to buy a new home often use that surplus to pay for the down payment and closing costs on the new home. 

Have more questions about how you can afford your dream home? Reach out to our friendly and helpful mortgage lenders today! 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS #407724

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Home Buying 101

Becoming a homeowner for the first time is no easy task! You’ve probably heard horror stories from friends about overpaying or missing a crucial piece of information before committing to an offer. Here are a few tips to help you prepare for buying your first (or next) home so you feel confident in the home you choose to buy! 

Before You Buy 

  • Start Saving Early – the earlier you start saving, the better! Many first-time homeowners assume they just need to save for a down payment, but home buyers must also pay closing costs up front! Closing costs include the down payment, title insurance, homeowner’s insurance, property tax, closing or escrow fee and others depending on your lender. Plus, the larger your down payment, the less you’ll pay in interest as you pay off the home loan. 
     
  • Strengthen Your Credit Score – if you know you’re going to purchase a house in the next few years, it’s a good idea to take action to earn a higher credit score. Start by making sure your bills are paid on time, pay off debt you have and keep credit card balances low. 
     
  • Learn About Mortgage Options – there are several different mortgage options to look into before you commit to a home loan. These include conventional loans, Federal Housing Administration (FHA) loans, U.S. Department of Agriculture (USDA) loans and loans from the Department of Federal Affairs. 
     
  • Find First-Time Home Buyer Programs – many states will assist with your down payment! Check with us to see what programs we recommend. 
     
  • Decide How Much You Can Afford – it’s a good idea to set your budget before you start shopping or get pre-approved for a home loan. Check out this tool from NerdWallet to see how much house you can afford.  

While You Look for the Perfect Home 

  • Get Pre-Approved – ask your lender to draft a pre-approval letter to send to a potential seller when you’re ready. If it’s all sorted out beforehand, you can put an offer in on your dream house quickly. 
     
  • Don’t Look at Houses Over Your Budget – this is a great rule of thumb for sticking to any budget, don’t look at what you can’t afford! You don’t want to fall in love with something that’s not realistic for your income level and prior financial commitments. 
     
  • Create a Priority List – decide what home features are important to you. This will help you weigh the pros and cons of each house. For example, if an office space is more important to you than having a large backyard, you’ll be able to narrow down your search easier. 

When You’re Ready to Make an Offer 

  • Pay for an Inspection – not only do inspections help you negotiate the price of a home down, but they also help you know what you’re paying for.  
     
  • Negotiate with the Seller – don’t be afraid to negotiate! In most instances, the worst-case scenario is that the seller will come back with a counteroffer. 
     
  • Buy the Right Home Insurance – home insurance covers the cost to repair or replace your home and belongings if they’re damaged by an incident covered in the policy. It also provides liability insurance if you’re held responsible for an injury or accident. Buy enough home insurance to cover the cost of rebuilding the home if it’s destroyed. 

If you’re in the market to buy a home, reach out to us! We’re here to help you find the right home loan for your budget. 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS# 407724

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Renovate Your Home Without Breaking the Budget

Are you ready to mix things up in the design of your home, but not ready to burn through your precious money to do so? We know some tips and tricks that will allow you to revamp the look of your home without going overboard on price. Keep reading to find out how!

Improve the Lighting

The lights in a room can drastically affect a room’s tone. Swapping out those harsh, flickering lights for softer, warmer lights will give your room a more comforting feel. Another lighting trick is to hang mirrors in rooms that need to be brightened up. Mirrors make a room look bigger and increase the light throughout the room.

Removable Wallpaper

Although wallpaper might’ve had a bad reputation in the past, the new, improved and modern versions of removable wallpaper make changing your space affordable and simple. The best part is that it goes on easily and comes off with no damage to the walls, allowing you to change up a room at the snap of your fingers.

New Cabinet Handles or Faucets

Updating the handles on your cabinets or the faucet of your sink can make a world of a difference. New and modern handles have the ability to completely change the look of your kitchen or bathroom, and they aren’t a big investment. Replacing your old kitchen faucet with a sleek, contemporary one can give your kitchen a whole new look.

Rearrange, Don’t Repurchase

You don’t have to buy all new furniture in order to make your living space more attractive. Search the Internet for furniture setups that fit your room, and try rearranging your furniture to match. Sometimes something as simple as changing an item’s location could improve the look of a room.

Paint the Front Door

Upgrade the outside of your home by putting some primer and a few coats of exterior paint on your front door. You could choose a bold color that would catch a passerby’s eye, like red, or go for a modern look like black. It’s also a simple fix to add a door knocker or update the handle. Research suggests that updating your front door can increase a home’s value as much as $8,000!

We hope these money-saving renovation tips will allow you to give your house an upgrade without burning through your wallet. More questions about renovation on a budget? Give us a call and we’d be happy to help.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

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Homeowner Costs People Forget About

Are you thinking about taking the big step of becoming a homeowner? Purchasing your first house is a significant and exciting change, but it can be easy to get caught up in the excitement and forget about certain costs. If you want to make sure you have all of your financial bases covered before owning a house, keep reading!

Lawn Upkeep

The cost of maintaining a lawn is one people often underestimate. Whether you hire someone to keep your lawn looking fresh or decide to do it yourself, it will cost some money. Besides needing a lawn mower for cutting your grass, keep in mind things like pest control, weed killer, fertilizer and landscape. Some other equipment needed in lawn upkeep includes a hose, sprinkler, rake, weed wacker, trimmers and much more.

Keeping it Clean

Keeping a house clean is much more challenging and costly than cleaning a small apartment. Many families not only add onto their collection of cleaning supplies, but usually double almost all of the supplies they own. It may sound unnecessary, but once you have to start making trips up and down stairs to clean different levels of the house, you might want to double your supplies, too. 

Property Taxes

One of the biggest payment differences between paying rent for an apartment and paying a house mortgage is property tax. It’s important to figure this out beforehand and add it to your estimated monthly payment so you know what to expect. To get a general idea of how much you’d be spending in property taxes, use an online property tax estimator.

Immediate Renovations

After buying a house, it’s normal to want to turn that house into a home. Homeowners are constantly looking for things to improve, like redoing the kitchen cabinets, fixing the deck, changing the wall colors, finding a new floor you love… the list goes on. Keep in mind when house hunting what you’d want to change about the houses you look at and add this to the list when considering your expenses.

Time

This one seems obvious, and although this particular cost won’t be coming out of your pocket, it’s a very important component to consider. Owning a house means doing everything yourself – something you didn’t always have to do while living in an apartment. Keeping up with maintenance, dealing with pest control and tending to the lawn are some of the many time-consuming things that come with being a homeowner. 

Now that you’ve considered some of the unexpected costs of owning a house, you’re able to make a more informed decision on if taking this step is the right choice for you right now. We offer mortgages that will help your homeowner journey become a little smoother.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

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6 Tips to Budget for a Home Remodel

Sticking to a budget is always a challenge, especially if it comes to a remodel within your home. That’s why we’re here to give you the structure you need for your newest renovation. Pull out the hammer and get ready for your home remodel the right way with these 6 budgeting tips.

Prioritize

What needs to get done first or what has been bugging you the most? Start there. That will be your first update and then go from here. You’ll need to know how much is too much, which means if you want new kitchen cabinets, are you getting a new countertop and floors too? Know where you will decide to end the project. You’ll also want to prioritize your materials. Think about cheaper alternatives and what items you must have. Do you want granite countertops, or is laminate okay?

Create a Detailed Plan

Know exactly where you’re going to start, what items you need for each update and how you will get it accomplished. Will you buy the materials yourself or do you need a contractor for certain areas? This will lead you to creating a detailed plan with cost estimates. You’ll want to know a ballpark of what everything will cost, as going into it with no estimate in mind could leave you with a bigger hole in your wallet than expected.

Talk to Multiple Contractors

Don’t talk to one and be done. Speak with multiple contractors to see what their prices are and what they can do. Be sure to check them out to know if they offer quality work and are trustworthy. This person will be building a piece of your home, so you want to make sure you pick the right one and get a decent price.

Set A Budget

Do not allow yourself to go over budget. Do your research and know an approximate estimate from your detailed plan, so you aren’t surprised by anything. Calculate your income, expenses, loans and so on to know what you can truly afford. It’s easy to get carried away with the renovation once you start, so your budget will help you remain practical.

Stick To The Plan

As mentioned above, do not stray from your well-calculated plan and budget. You’ve done all the research, so it’d be sad to let it all go down the drain. New appliances or lighting can wait – so know your plan and be honest with yourself about what you mapped out you could afford. 

Account For Hidden Costs

You will run into things that will end up costing more than expected – don’t worry! This is why you made your plan. Within your plan, you should have picked a few things you could wait on if something more urgent came up. Know what you can trim from your original plan and budget in order to account for these hidden costs.

Congratulations on creating your plan and budget! Your home will look beautiful once the renovations are made, so be sure to get started the right way with these top tips.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

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8 Surprising Costs of Buying a Home You Need to Budget For

Buying your first home is so exciting. It can also be a little nerve wracking the first time around if you don’t have any guidance. Here’s what you should know about the home buying process before, so you aren’t shocked by the expenses that come along.

The Appraisal

An appraisal is when you have a home expert come and determine the value of a home. They have no stake in the outcome of their conclusion, so you can expect an honest answer. You will want to be sure to have an appraisal completed to ensure that you are not paying more for the home than what it is worth. This can cost upwards of $600 and should be factored into your budget.

Home Inspections

Some get appraisals and home inspections confused. They are both important, but the home inspections are more tailored to your needs and may help to answer some of your questions about the conditions of the home. By getting an inspection, you are able to have a better understanding of the home’s condition. This can cost an average of $300.

Closing Costs

Sometimes, you may be able to convince the seller to pay the closing costs. Yet this isn’t something that should be relied on. Closing costs cost an average of 2-5% of the value of the home’s purchase price. It includes costs such as loan fees, taxes and title searches.

Homeowner’s Insurance

If you’ve rented prior to this, you may be new to fire insurance or more commonly known as homeowner’s insurance. It differs from rental insurance, as that covers your liability and personal items, while homeowner’s insurance also covers the physical structure of a home. The average cost for this is $1,500 a year.

Home Maintenance

The nice part of renting is that you aren’t responsible for home maintenance. Surprisingly, many are unprepared for the maintenance that comes with home ownership and how this can create additional expenses. You are going to need to buy basic items like a lawnmower, snow blower and a leaf blower.

Cleaning

If the prior owners hadn’t cleaned, you may have an additional expense of getting the carpets cleaned before you move in. Carpets should be professionally cleaned once a year, so if they haven’t been cleaned immediately prior to your move in, you may want to schedule a cleaning. This can cost $300 for a 1,500 square foot space.

Homeowners Association Fees

A homeowner’s association is a part of an organization that enforces rules and regulations for your property. They charge a fee for the upkeep of the property in addition to shared services among the community. These are typically due at closing, but you should be aware that the average HOA fees increase by 5% each year.

The Big Move

Often forgotten or not factored, is the move itself. Moving is an expensive business, especially if it’s across state lines. You will need to figure in the costs of movers, moving materials and transportation. These usually cost an average of $3,000.

Budgeting for these costs will allow you to have a correct price in mind when house hunting. Our team offers great insight into our mortgage products. Discover more today!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS #407724

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7 House Buying Tips to Save Money

It’s finally house hunting season and you could not be more excited to get the ball rolling on your big purchase! Before you hit the road or the search bar, take these 7 tips into consideration.

1. Know Your Limits

Before signing the papers or falling in love with the first home you see be realistic about what is in your budget. We recommend spending no more than 25 percent of your monthly income on the mortgage. When you know what this number is, be sure to stick with homes in that price range. Don’t even go into homes that are going to be proportionately out of that limit, or you may kick yourself later as you feel straddled with a home you can’t afford.

2. Be Realistic About Fixer Uppers

While they are fun to watch on TV, if you don’t have the skillset to actually fix homes, a house that needs a lot of TLC is likely not for you. Many see a low price on a home and jump on it, thinking the work needed will be minimal and easy. When it comes to home improvement, no fix is simple and this is even more true if you are a newbie to the renovation game. Often people do not realize the time commitment and additional cost that come with dramatic improvements.

3. Provide a Strong Down Payment

The more you are able to give for a down payment, the greater equity you will already have in the home in addition to a lower monthly payment. This will save you money on interest in the long run.

4. De-clutter the Current Space

It’s time to spring clean your “extras.” We all have things sitting around our home that go untouched and unneeded. Start selling these items at a local thrift store or posting them for sale online. This will help to make your move easier and be a helpful way to start saving for the down payment!

5. Take Your Time When Shopping

Don’t let the desire to get out of your current living space cloud the judgement of the purchase. Take your time studying each home and realize that this is one of the most important big purchases you will make in your lifetime. It needs to be a thoughtful, decisive purchase.

6. Eliminate Other Debts

Get a great deal on the mortgage by making sure your credit score is in tip-top shape. A large purchase with a loan or credit card right before you buy a home will certainly have an impact on your mortgage rate. Boost your credit score by paying down the debt you have and stay away from any other purchases until after the home is in your possession.

7. Conduct a Personal Roof to Basement Inspection

Know the property backwards and forwards before signing the dotted line. This means hiring a trusted inspector and having a contractor come to confirm the findings. After this, there is still a final step. You need to conduct a thorough inspection to ensure that you know exactly what you are in for. This is a great checks and balances system to confirm that you are getting a fair deal that won’t end up costing you thousands in repairs later.

Be smart with your finances and don’t spend all your money on a “dream home.” We’re here to help you know how much house you can afford, while offering mortgage solutions to fit your needs.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS #407724