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Why Delaware and Pennsylvania Homeowners Overprice Their Homes

Thursday, February 28, 2019
by Katina Geralis

With home sales on the rise and home prices following suit, many Delaware and Pennsylvania residents will soon begin the process of listing their properties to take advantage of this exciting time in the market, as well as the warmer weather coming this spring! But one common disconnect between homeowners and their agents is the price at which they believe they should list the property. 

The price DE and PA homeowners have in mind is oftentimes not realistic for the local market and takes into account a variety of factors including their emotional ties to the home. Finding a comfortable price for you can be a major obstacle when selling your home and you may need to compromise— just take a look at these common reasons homeowners overprice their homes in Delaware and Pennsylvania:

You think your decor is the best
Naturally, your home will represent your unique tastes and style, but keep in mind that it may not do the same for other buyers. Your knick-knacks, bright colors on the walls and large furniture items can get in the way of buyers envisioning themselves living in the home, so take care to scale back on these during the selling process.

You have emotional ties
Homeowners who have lived in a property for several years will develop emotional ties to the home, especially if you've raised your family there. In your mind, the home's worth may be far more than what buyers are willing to pay, so remind yourself to be realistic and remove your homeowner hat. It's important to look at the property as a buyer, without emotional ties, in order to find an accurate price.

You want to make a major profit
Who doesn't want to make a profit when selling their Delaware or Pennsylvania home? This may tempt you to drive up the price, but don't be too hasty. Your home value is dependent on the current market, comparable properties and its condition. Just because you need a specific amount of money from the sale to purchase your next dream home does not mean you can or will sell your home for that amount.

If you're ready to start the process of selling your DE or PA home, give our experts at the Kat Geralis Home Team a call today! We even offer a FREE Home Seller E-Guide to get you the best information in an easy-to-read format!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

5 Hidden Costs of Owning a Home in Delaware and Pennsylvania

Thursday, February 14, 2019
by Katina Geralis

Owning a home in Delaware and Pennsylvania definitely comes with its perks— from tax benefits to free reign on design and everything in between. But if you're making the transition from renter to homeowner this year, it's important to note that there may be a few home-related costs that you didn't plan for or even know about before you began house-hunting.

As your local real estate experts in Delaware and Pennsylvania, you can count on the Kat Geralis Home Team to make sure you are prepared for every aspect of homeownership— including the following hidden costs:

Property Taxes
When you use a mortgage calculator prior to buying a home in Delaware or Pennsylvania, it is essential that you input estimated property taxes. You can typically find this amount on any listing, or ask one of our real estate experts to help, so you can see how your monthly payment will change adding them in.

Insurance
Homeowner's insurance will vary depending on your home, your pets, your neighborhood, and a host of other different factors. Research average costs in your area and add them into your potential monthly mortgage payment to avoid any surprises down the road. 

Yard Upkeep
If you're currently renting in Delaware or Pennsylvania, you likely do not have to deal with the yard upkeep or maintenance. Once you become a homeowner, you will be responsible for buying all of your own tools, including snowblowers, lawn mowers, shovels, and rakes. Not to mention, the time you will need to free up to keep your yard looking well-manicured in every season!

HVAC
Furnaces and air conditioning units can be a major cost that homeowners do not account for when buying a property. For instance, if you don't have a home warranty, and your furnace breaks down, only you are responsible for covering the repairs or replacement which can cost you thousands! It's best to begin saving for a rainy day fund at the start of your homeowner journey to prepare for things like this, or even small expenses like replacing furnace filters every month or so.

Utilities
As a renter, you were likely used to much smaller utility bills than you will have as a homeowner in Delaware and Pennsylvania. Once you've found a home you're interested in, you can ask the previous homeowner for the average utility costs in order to factor them into your overall budget and avoid surprises later.

Ready to make the move to become a homeowner in Delaware or Pennsylvania? Give our experts at the Kat Geralis Home Team a call today! We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

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