I'm writing this to help those who haven't yet realized that you won't sell your home for what you put in/have in it. It's just not going to happen right now.
I drive down the road on my way to work (thank God for some work) and all I see is empty houses, houses for sale, grown up yards where the bank that forclosed won't even mow the grass! It's horrible out there! There are more for sale signs in front of homes now than I have ever seen in my life! It's enough to make a grown man cry.
The reason for this article is some advice for those that have penny pinched and fretted over bills saving everything for the moment when they lose thier job. It is advice for those who STILL have thier home. Those that STILL have thier job(s). I'm not being cynical to those who don't still have thier income and home, but this isn't for you. Some things couldn't be helped through this recession. The banks could have done more for you folks who have lost it all.
This is for those who have a for sale sign in front of your home trying to sell it so you can upgrade. The banks just won't give the loans needed for such a purchase. Those that used to be able to get loans on spur of the moment can no longer do so. I have acctually noticed that credit scores have dropped on individuals who haven't missed payments!
My advice to those mentioned with the for sale signs is to take those signs down! Rip them up! That's right, there is no sense sitting around waiting for some lucky couple to get a loan, if they even pick your house. There are way too many houses out there that are bigger, nicer, newer, cleaner, and most of all, cheaper than yours!
Don't fret! This is a solution that will:
- Improve the value of your home
- Enlarge your living area(s)
- Eliminate waiting for aforesaid "lucky couple"
- Put to good use the house you already have
What I'm getting at is HOME IMPROVEMENT! You can walk right in to your bank/credit union and they will give you a home improvment loan faster than green grass through a goose!
Where the banks won't do a home loan they will do a home improvement loan. You can add a bedroom, bathroom, new windows, siding, even a new roof, and bingo! You have a way to move some things around in home. Redecorate and relandscape. After a few weeks (depending on the size of your project) or so, you might as well have a new home. Everything will be different.
You know it's up to you how you change your home after a good remodel. Move your bedroom, change a few walls, and now your dining room is bigger! Whatever you choose to do to your home, it has to be better than what it was.
- Remember to choose your loan carefully.
- Don't get too much or too little.
- Choose your contractor only after interviewing several.
- Don't pick one because they "seem" like they know what they are doing. Ask for references and locations of previous remodels.
- Talk to previous customers face to face. Look at the work they have done.
Believe me, the time it takes to do all this, will save you in the long run.
Most importantly, sign a contract that has a payment structure that makes sense (i.e. $5000 down until phase 1 is complete ((removal and replacment of all windows and siding+)) the dollar amount, and work done are only examples). Don't give extra money to contractor UNLESS you have changed the plans and changing said plans requires an updated contract.
I hope this is a solution for those who want change. I have been in this industry all my life (I'm 39) so if you have any questions or comments feel free to ask.
