The home appraisal is your last chance to ensure your home’s value comes in as high as possible, which is especially important since most offers you’ll receive will be contingent on the buyer acquiring financing from a mortgage lender. Basically, the higher your home appraisal is, the smoother the home selling transition will be. Taking the time to prepare your home for an appraisal is your best chance of increasing your home appraisal value, and here are nine things you can do to prepare.

1) Begin with your home’s curb appeal

Curb appeal is your chance to make a good first impression on the home appraiser as well as potential buyers, so you’ll want to put your best foot forward. There are many budget-friendly curb appeal ideas to jazz up your home’s exterior appearance and it often takes less than a few hours to complete. Some easy ideas to get you started are laying new mulch, planting fresh flowers, mowing your lawn, raking the leaves, trimming overgrown bushes, and clearing sidewalks and driveways to create a safe and clean appearance. From there, you can move on to more extensive curb appeal projects, such as touching up the outside paint to make your home’s exterior features stand out. The goal is to convey to the appraiser that your home is as well maintained on the exterior as it is on the interior. 

2) Declutter your home

While appraisers will overlook the “lived-in look” of a home, decluttering can make their job more accessible since the appraiser will take pictures and measurements during the appraisal process. Household items left in the way will detract from the appraiser’s ability to do their job. A bright and clean home appears more spacious and can help the appraiser get an accurate feel for the home’s condition. Some key areas that should be decluttered are the bedroom, kitchen, and living room since these areas are the most used in the home.

• The kitchen: Keep the sink clear of dishes and ensure they’re put away the day of your appraisal. You can also move seldom-used appliances off the countertops to give your kitchen the appearance of a larger space. 
• The living room: Keep surfaces clear of stacks of magazines, books, or newspapers. Paring down extra pillows and blankets can also give your space a minimal and streamlined appearance.
• The bedroom: Make sure clothing is off the floor and properly stored away in closets or drawers. Consider donating any unused or old clothing items to a local thrift store or shelter.

3) Clean your home thoroughly 

Appraisers are required to follow strict regulations, but much of their job is subjective. Set aside time ahead of your appraisal to give your home a thorough deep cleaning. A clean and tidy home speaks volumes about you as a homeowner and can help the appraiser see every feature in its best light. Deodorize off-putting smells from the fridge, garbage, pets, or dirty laundry, and pay extra attention to areas that may not be a part of your regular cleaning routine, such as the baseboards or inside of cupboards. If you want to go all out, consider hiring a cleaning service to tackle bigger cleaning projects such as shampooing your carpets to remove caked-in stains or debris. By deep cleaning your home, you’ll also have the opportunity to find and fix potential problems that the appraiser may notice. 

4) Make minor repairs – the $500 rule

Do a walkthrough of your home and ensure that everything is in good working condition. If there are minor problems, such as drippy faucets, squeaky doors, or scuffs on the walls, you can tackle these ahead of the appraisal to ensure none of these imperfections result in an under-appraised home. In fact, many appraisers follow the $500 rule, where they value property based on $500 increments. So even small fixes can incrementally add value to your home’s overall appraisal. Some quick and easy repairs you can make are:

• Securing any handrails on stairways, steps, or raised decks.
• Replacing burned-out bulbs. 
• Ensuring smoke alarms are working properly and batteries have been replaced.
• Addressing any roof stains or leaks and fixing plumbing issues.

5) Look at your garage, roof, foundation, and home systems

In addition to curb appeal, a home appraiser will also review your home’s exterior to ensure its structurally sound. Signs of water damage, a cracked or leaning chimney, or loose shingles are indications of underlying damage and will be considered during the appraisal process. Check the foundation for signs of water intrusions or cracks in the foundation, ceiling, or walls. These are all signs of foundation damage that will need to be addressed. You’ll also want to ensure your roof has at least three years of economic life remaining since the quality of the roof will play a key role in determining your home’s value. Make sure the garage door opener and any garage outlets are working, and that all utilities, water, electricity, and HVAC systems are functioning properly.

6) Make small upgrades 

You want to increase your chances of a high appraisal, and there are simple home improvements that can increase value. However, keep in mind that you should prioritize items that clearly need to be addressed rather than stress over “nice to have” components. Replacing worn or dirty handles and hardware on drawers and doors can create a new look without a huge investment and is a great way to modernize your home. A fresh coat of paint can also go a long way in giving your rooms a clean and updated appearance. When selecting different paint color options, go with tried-and-true neutral colors, such as light grey, cream, or beige, to give your home a simple and sophisticated upgrade. 

7) Have a list of your home improvements ready

Compile a list of home improvements you have done, such as adding a new kitchen, HVAC system, or finishing your basement. Then provide this list to the appraiser with any supporting documentation – like receipts or invoices – to prove you made these upgrades. This will help the appraiser see the extra value you have added to the home, and it just may help them justify their final appraised value of the property.

8) Create a welcoming environment

While an appraiser’s job is to be as objective as possible, creating a welcoming environment is important for making a good first impression. Light and bright spaces are more inviting so bring in as much natural light as possible by opening up any blinds or curtains and make sure to keep the lights on throughout your home. Add soft touches to the interior with pillows or blankets to add a look of comfort, and set your thermostat to a comfortable temperature. Incorporating these simple tips as you prepare for a home appraisal will make the appraiser’s visit more pleasant.

9) Look at real estate comps in your area

Looking at real estate comps in your area – also known as comparables – will give you valuable insight into the appraisal price you might expect to get for your home. You’ll want to look at homes that have sold in the last 3 to 6 months and are approximately the same size and have the same number of bedrooms and bathrooms. Comps will also give you a general idea of how your home stacks up against others in your area, allowing you to compare your home’s exterior and interior features, as well as its general condition to others in your neighborhood. Getting familiar with the comps in your area will also put you in a better position to challenge an appraisal in the event it comes in too low. 

The home appraiser will also be looking at comps in your area to get a baseline of what home’s like yours are selling for. The number of rooms, square footage, location, neighborhood, and other elements will all factor into determining your home’s value. The appraiser will also make adjustments from home to home based on each property’s characteristics compared to the subject property being appraised. 

Key takeaways for how to prepare for a home appraisal

Preparing for a home appraisal can be stress-free once you know what the home appraiser is looking for. Many items can be done ahead of the appraisal to make the process go smoothly, and you’ll want to take the extra time to ensure your home is showcased in the best light. Make sure your home’s interior looks as good as the exterior and that all appliances and systems are in good working order. Spend some time decluttering and sprucing up your home with minor repairs, and be sure to prepare a list of home improvements for your appraiser. When all’s said and done, these factors work together to help increase your appraisal results while maximizing your home value.

The post How to Prepare for a Home Appraisal: 9 Tips to Maximize Your Home’s Value appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Are you looking to escape the hustle and bustle of city life? Does the idea of a laid-back lifestyle sound appealing to you? If you answered yes, then you should consider moving to a small town. Small towns across the US offer access to the outdoors, local shopping, and most importantly peace, quiet, and privacy that is rare in a big city. If this lifestyle sounds like something you’re interested in, we compiled a list of 10 beautiful small towns in America that you can move to today. From the beautiful Hawaiian town of Hilo to the smallest capital in the US, Montpelier, keep reading to see what towns made the list and which one could possibly be your next home. 

1. Portland, Maine 

Median Sale Price: $450,000

Portland is a coastal community that features sweeping ocean views, outdoor greenery, and friendly locals. If you love exploring small businesses, this is the town for you. Downtown Portland boasts many restaurants, coffee shops, bars, and bakeries owned and operated by local families. Portland also offers numerous hiking trails, skiing, and swimming all within close proximity to downtown. Portland’s rich history, dating back to 1786, is sprinkled throughout the city with its cobblestone streets and historic ships docked along Casco Bay. If you move to Portland, you can expect four distinct seasons with warm, pleasant summers and chilly winters. Be sure to take a ferry to Peaks Island, a popular place to go swimming and kayaking, explore Breakwater Lighthouse, or visit the Historic Victoria Mansion. Don’t forget to try a delicious lobster roll!

2. Sedona, Arizona

Median Sale Price: $1,300,000

Located in Northern Arizona, Sedona is a beautiful small town in America known for its breathtaking red sandstone formations and gorgeous starry nights. In Sedona, expect hot summers, cold winters, and comfortable temperatures during the spring and fall. There’s no shortage of nature in the town with more than 200 hiking trails covering 400 miles, like Devil’s Bridge, Fay Canyon, and Cathedral Rock. If you move to Sedona, you’ll never get bored with a variety of festivals and events that take place each year. Some of which include the Sedona International Film Festival and the Red Rocks Music Festival. When in Sedona, be sure to visit the Chapel of the Holy Cross, go shopping at Tlaquepaque Arts and Shopping Village, or relax at Slide Rock State Park.

3. Carmel-by-the-Sea, California

Median Sale Price: $1,650,000

Located about 120 miles south of San Francisco, Carmel-by-the-Sea is a beautiful ocean-side town that provides a suburban feel with access to many shops, restaurants, and parks. Carmel is known as an art mecca with many different communities and societies dedicated to poetry, theatre, crafting, writing, and visual arts. You can find a variety of diverse activities, such as lounging in the sun at Carmel City Beach, rated one of the best beaches in the world by National Geographic, visiting Carmel Mission, or exploring Point Lobos State Natural Reserve. If you are a golf fanatic, you can play a round of golf close at nearby Pebble Beach Golf Links which has hosted several US Opens and is currently the home of the AT&T Pebble Beach Pro-Am. Carmel locals can expect moderate temperatures year round.

4. Estes Park, Colorado 

Median Sale Price: $625,000

Colorado is known for its outdoor pursuits, so it’s no surprise Estes Park offers access to world-class hiking, fishing, biking, and camping. This gateway town into Rocky Mountain National Park welcomes thousands of visitors every year, but is also a great place to call home if you like a laidback lifestyle. Estes Park offers a secluded and private small-town lifestyle, with the nearest cities, Fort Collins and Boulder, located about an hour away. The summer season brings comfortable temperatures to Estes Park and is partly cloudy year-round.  During the winter months, expect a lot of snow. The best activities to do in Estes Park include exploring Rocky Mountain National Park, walking along the downtown riverwalk, or taking a drive along the peak-to-peak scenic byway. 

5. Hilo, Hawaii

Median Sale Price: $386,725

Located on the Big Island of Hawaii, Hilo provides residents with a lush landscape, roaring waterfalls, and beautiful botanical gardens. Moving to this beautiful town in America provides many weekly activities that are sure to get you in the island lifestyle. You’ll find many local shops, restaurants, and beaches within walking distance of downtown. In this island city, you can expect a muggy, warm, tropical climate year round. If you find yourself looking for something to do on your day off you can take a stroll through the Hawaii Tropical Botanical Garden, hike to ‘Akaka Falls, or learn about astronomy at the Imiloa Astronomy Center. 

6. St. Augustine, Florida

Median Sale Price: $390,300

The charming town of St. Augustine is the oldest city in the United States and is a great place to call home. Located in northeastern Florida, this town has beautiful architecture, cobblestone streets, and historic neighborhoods. If you love food, St. Augustine is the place for you. From fresh seafood to Cuban cuisine, there are options to suit everyone. This town is also bike-friendly with different bike lanes and trails to explore. In St. Augustine, you can expect cool and partly cloudy winters, hot summers, and a wet environment year round. If you find yourself moving to this beautiful town in America be sure to check out the Castillo de San Marcos, Saint George Street, and Fort Mose Historic State Park.

7. Port Townsend, Washington

Median Sale Price: $605,000

Known for its historical Victorian-style buildings, annual cultural events, and views of the Olympic Mountains, Port Townsend WA is a wonderful place to move to. The town is best described as comfortable, quaint, relaxed, and true to its historic roots, with great scenery, outdoor activities, and friendly people. The summer weather tends to be comfortable and dry compared to winter, which can be wet and cold. When in Port Townsend, be sure to pay a visit to Fort Worden State Park which served as a US Army base to protect the Puget Sound, learn about sea creatures at the Port Townsend Marine Science Center, or grab a drink at Port Townsend Brewing Company. The Port Townsend Historic District is also recognized as a national historic landmark district by the US.

8. Nantucket, Massachusetts

Median Sale Price: $1,240,000

Nantucket is a beautiful small town in America known as a vacation destination for many, but is also a great place to call home. At only 14 miles long and 13.5 miles wide, this small island provides privacy, seclusion, and a getaway oasis for locals to relax and enjoy. Perhaps one of the best aspects of Nantucket is the diverse beaches such as the family-friendly Jetties Beach on the North Shore or the popular surfing destination Surfside Beach on the South Shore. While in town, pay a visit to the Whaling Museum, head over to the Sankaty Head Light, or grab a drink at Cisco Brewers. Nantucket’s weather is humid and slightly windy during the summer months, while the winters are cold and wet. With all the unique activities coupled with small-town charm, Nantucket is sure to capture your heart.

9. Montpelier, Vermont 

Median Sale Price: $305,000

With a population of about 8,000, Montpelier is not only the US’s smallest state capital, but is filled with unique attractions and historic charm. This small town has countless book stores, coffee shops, and a vibrant music and arts scene. If you decide to move here, be sure to visit the Vermont State House to see beautiful gold-domed Greek revival architecture, take a walk around the large green area at Hubbard Park, or take a winery tour at North Branch Vineyards. The freezing and snowy winter season is offset by comfortable, wet summers. 

10. Saugatuck, Michigan

Median Sale Price: $665,000

Saugatuck is a beautiful suburban town that borders Lake Michigan. During the summer months, the town comes alive with live music, open-air restaurants, and the breeze of the nearby lake flowing through the streets. You can enjoy this temperate climate year-round.  When living in Saugatuck, locals can enjoy the freshwater of Oval Beach which is filled with coastal grasses and rolling sand dunes. Residents can also try their hand at brewing beer at Saugatuck Brewing Company or enjoy panoramic views at Mount Baldhead.

*Median home sale prices as of September 8, 2021. Information deemed reliable but not guaranteed. Redfin recommends consumers make informed decisions, and perform their own due diligence about each community.

The post 10 Beautiful Small Towns in America Worth Moving To Today appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Dramatic weather events such as wildfires, flooding, extreme heat, drought, and storms are on the rise all over the world due to climate change. As a result, all of these climate-related events are posing an increasingly large risk to real estate and the housing market here in the U.S.

So if you’re a homeowner or you’re planning to buy or sell a home in the future, you’ll want to consider what impact these extreme weather conditions may have on your home and its value over the long run. Knowing this important information can help you make a more informed decision about how to proceed, and the steps you should take to protect your most valuable asset – your home. 

How is climate change currently affecting the housing market?

Climate change awareness among homebuyers is on the rise and many Americans are factoring climate change into their decisions about where to live. In a recent Redfin survey, nearly half of the respondents who plan to move in the next year said extreme temperatures and/or the increasing frequency or intensity of natural disasters played a part in their decision to relocate.

For those that already own homes, they are also being forced to consider how climate change is going to affect their property values. Another Redfin survey found that one in five Americans (21%) believe the increasing frequency or intensity of natural disasters, extreme temperatures, and/or rising sea levels are hurting home values in their area. 

While homebuyers and sellers are aware of the risks posed by climate change and are thinking about how these risks may affect their homes, these ideas haven’t yet translated into major changes in buying habits or home prices. In fact, some of America’s disaster-prone areas are actually becoming more populous as new residents move in, which is keeping property rates steady, if not increasing them. This influx of new residents may be due to the relative affordability of homes located in these higher-risk areas. 

“Homebuyers are concerned about climate change, but it’s not their top concern,” said Redfin Chief Economist Daryl Fairweather. “People have to make compromises when buying a home in order to stay within budget. Since there is already a shortage of affordable housing, many homebuyers have no other choice but to accept living in a place where climate disasters are becoming more prevalent.”

What is the impact of wildfire risk on property value?

Bigger and more destructive wildfires have ravaged the U.S. in recent years. In 2020, wildfires burned 10.1 million acres, which was the second-most acreage burned during any year since at least 1983. The Western U.S. is especially vulnerable to wildfires, with California, Texas, Colorado, and Arizona tending to have more wildfires than other states. This is largely due to their dry climates and hot weather. 

As the frequency and intensity of wildfires grow, so too does the risk to nearby homes and their respective property values. According to a Redfin study, homes in high-wildfire-risk zip codes throughout California, Oregon, and Washington sold for an average of 3.9% less than those in low-risk zip codes in 2020. If fires continue to become more frequent and devastating, fewer buyers may be looking to live in high-risk areas. 

In contrast, the median sale price of homes in areas with low wildfire risk increased 101% since 2012, compared to an 88% increase for homes in high-wildfire-risk zip codes. This disparity intensifies the affordability crisis in low wildfire risk areas, which results in home buyers with smaller budgets buying more affordable homes in fire-prone regions. 

This trend, however, isn’t consistent across the country. For example, Utah, which has a larger share of homes facing high wildfire risk than any other Western state, is also America’s fastest-growing state. And over the last 5 years, the median home price has increased by 84%.

In California, where $628 billion worth of homes are facing high fire risk, Redfin real estate agent Christoper Anderson indicated that some buyers start rethinking their decisions when fire seasons worsen. However, once the fire season ends, much of that fear disappears. He has seen a lot of people leave the area when wildfires ramp up, but they are always replaced by new people who are willing to take the risk.

What is the impact of flood risk on property value?

Floods are a climate event that can strike extreme fear into the heart of many property owners and for good reason. In fact, the state of Louisiana is currently experiencing this fear firsthand. On August 29th, which also happened to be the 16th anniversary of Hurricane Katrina, Hurricane Ida struck the city of New Orleans. The storm caused massive flooding, power outages, and destruction across the city. Remnants of the hurricane are now making their way up the Northeast causing flash flooding in New York and New Jersey. 

As of 2021, more than 23.7 million properties are already at risk of flooding and 1.7 million more properties will be at risk in just 30 years. However, while the risks are high, they are not deterring buyers. In fact, home values in high-risk areas tend to be higher than homes in low-risk ones. Since 2013, homes with high flood risk have sold for about 7% more on average than homes with low flood risk. This is likely due to the lure of luxury waterfront properties, a demand that only intensified with the pandemic and the ability to work remotely. 

Naturally, flood risk is heightened if you purchase a house along the coast or near a large body of water (rivers and lakes), but even if you don’t have a view of the beach, your home could still be in a high-risk flood zone. Some of the most destructive flooding events occur due to heavy rainfall, which can happen anywhere in the U.S. 

As a buyer or homeowner, it’s important to understand the extra costs and risks associated with properties in high flood risk areas. For example, home insurance policies typically do not cover flood damage and you may need separate flood insurance. It’s critical you purchase excellent flood insurance and take preventative measures to protect your house from potential flooding. On Redfin.com you can see an area’s flood risk, how much property damage flooding has caused during the year, and the estimated rate of flood insurance. For example, in Cape Coral, FL, 86% of homes are at risk for flooding and flood insurance premiums range from $225 – $2,500 per month.

What is the impact of heat risk on property value?

Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. Heatwaves occur across America, but the Western and Southern states are typically the most affected. In addition, the impacts of heatwaves are often felt more heavily in densely populated urban areas like large cities. Buildings and asphalt absorb and radiate heat significantly more than plants and trees, which makes urban areas particularly dangerous.

Nonetheless, interest in warm and relatively affordable areas—especially in suburbs of large cities—is accelerating. As a result, this increase in demand is driving up property values. For example, Phoenix, AZ, which maintains a very high heat risk, was the number-one U.S. migration destination in the second quarter of 2021; and in the last 5 years, the median home sales price has risen 83%.

So for now, property values in most areas with high heat risk have yet to be majorly affected by climate change. However, some hesitancy is starting to occur among homebuyers. In a recent Redfin study, 75% of respondents said that extreme temperatures in an area would make them hesitant to buy a home there, which could affect future property values if people begin to steer away from high heat risk locations.

What is the impact of drought risk on property value?

Droughts have occurred in the western U.S. for a long time, but prolonged dry seasons, extreme heatwaves, and declines in rainfall caused by climate change are intensifying these droughts. In mid-July, more than 95% of the West was in drought. 

While droughts are not as violent as other weather events like hurricanes or wildfires, they can be incredibly harmful. The most common and damaging drought-related property risk is foundation damage. As dry soil shrinks, it causes gaps beneath your foundation, which can lead to cracking and other issues. Foundation damage can negatively affect your property value, so it’s important you take proper precautions to reduce the chances of severe structural damage.

In addition to property damage, droughts can pose a major threat to communities that rely on the city’s water sources. During times of extreme drought, communities are often advised to ration water. For example, in 2021 Californians were asked to cut back on water consumption by 15%, and previously in 2015 were mandated to cut back consumption by an average of 25% statewide. 

However, even in the face of high drought risk, real estate prices have yet to be negatively affected. Redfin recently analyzed 50 counties with the highest share of homes facing high drought risk. In more than half (38) of those 50 counties, more people actually moved in than moved out. For example, in Denton County, TX nearly every home faces a high drought risk. However, this county experienced a 13% net migration rate from 2016-2020, and the median home sales price has risen 27% over the last three years. 

What is the impact of storm risk on property value?

Severe storm events have caused massive devastation and destruction in the U.S. in recent years. From Hurricanes Harvey and Ida to the 2021 winter storm in Texas. However, as with the other climate risks, storm risk isn’t deterring buyers. For example, Cape Coral, Tampa, and Orlando—all of which are prone to hurricanes—were among the 10 most popular migration destinations in the second quarter of 2021. 

There are, however, some buyers wary of places with high storm risk. For example, Redfin agent Thomas Wiederstein of Phoenix, AZ said that due to the recent winter storms in places like Dallas, several of his out-of-state buyers shifted their home search from Texas to Arizona. Unfortunately, in this situation, buyers are trading one climate risk (storm risk) for another (heat risk).

If you decide to live in an area of high storm risk, it’s critically important that you prepare your home for major weather events to prevent damage and avoid costly home repairs. Additionally, if you’re looking to sell your home and your property doesn’t have storm-resistant features, this could hurt your resale value. Ashley Vasquez, a Redfin real estate agent in Houston, observed some homebuyers seeking out discounts when bidding on properties that lack storm-resistant features, like storm or weatherproof windows, a hurricane roof, or a storm door.

What are the future impacts of climate change on real estate and the housing market?

Whether it’s severe storms, crippling drought, or wildfires, climate change will impact both real estate and the housing market in the years to come. Here are some key changes to expect.

Higher insurance premiums

Insurance has historically been the main tool for mitigating the risks posed by extreme weather events. As weather catastrophes become more frequent, insurance costs have jumped. In 2020, almost half (45%) of surveyed homeowners with natural disaster-related insurance policies have seen their premiums increase. Assuming extreme weather patterns continue, it seems inevitable that premiums will continue to climb. In the coming years, coverage may be more limited in high-risk areas, and insurance may ultimately become too expensive or even unavailable for some.

Increased home damage

Climate-related events can be highly destructive and cause immense damage to the interior and exterior of a house. If you are concerned about your home being damaged by changing weather patterns, it’s important to take the necessary steps to mitigate risks. However, your best option for protection is to reside in a low-risk area. 

Decreased value of homes in at-risk areas

While the current buyer behavior doesn’t show this trend – if extreme weather events worsen in the coming years, more areas of the U.S. may become undesirable for future homebuyers. This could cause property values in those areas to decline. Should property values decrease, many homeowners could face a situation where they lose their home equity. Homeownership, and home equity, is a major source of building wealth. As a result, it’s possible that more people will decide to rent vs. own, rather than risk declining property values. 

Homeowners may also price their homes for sale in expectations of future climate risks. This means property values may be influenced not just by current hazard levels, but also by expectations of how hazards could evolve. 

Increased value of homes in low-risk areas

As homebuyers, and even renters, slowly move away from negatively affected areas, relocating to lower climate risk areas may worsen competition. Should demand increase in these low-risk areas, buyers may see tougher bidding wars and ultimately more expensive homes.

Higher property taxes and housing costs

Municipalities all over the U.S. will need to make their communities more resilient in the face of climate change. Paying for mitigation and adaptation measures will likely need to be funded through an increase in property taxes and fees. Additionally, as people leave coastal communities due to flooding, or wooded areas due to wildfires, the tax base in those areas will shrink, further driving up taxes for those that remain. 

“As climate change worsens, homeowners could end up with higher housing costs down the line,” said Redfin Chief Economist Daryl Fairweather. “Homeowners may need to install air conditioning in heat-prone areas or install a metal roof in a fire-prone area. If homebuyers are able to make their home livable amidst a changing climate, that could increase their home’s value. But these investments aren’t just the responsibility of individual homeowners. Local and state governments need to invest in resilient infrastructure for communities to remain livable and will need tax revenue to fund those investments.”

What can homeowners do to protect their property values and homes?

While homeowners can’t completely shield their properties from the effects of climate change, there are many preventative measures they can take. Here are some ways homeowners can protect their homes and start planning ahead:

1. Understand your risk 

The first step you can take to protect your home and its value is to identify your exposure to risk. Redfin now publishes climate-risk data for every location on its website, which can help you make more informed decisions. For example, in Cape Coral, FL, 86% of homes are already at risk of flooding, and in 30 years 99% of homes will be at risk. While in Denver, CO only 3% of homes face the risk of flooding and that number will only increase to 4% over the next 30 years. 

To further understand your risk, you can also research the most vulnerable cities by specific climate risk. See the top 10 U.S. cities with the most risk of substantial flooding, fire damage, storms, water stress (droughts), and extreme heat.* These steps will help you make more informed decisions whether you’re buying, selling, or renting a home in an area that faces a climate risk. 

2. Proof your home for individual risk types

Improving your home’s resilience to climate change can reduce the chance and severity of major damage. In fact, many homeowners are already investing in specific updates to protect their homes. Nearly two-thirds of U.S. homeowners recently surveyed by Redfin have invested $5,000 or more to make their homes more resilient to at least one climate-related risk. For more information on how to protect your home and property value, check out the following guides:

• How to Heat Proof Your Home 
• How to Protect Your Home From Forest Fires
• Tips to Storm Proof Your Home
• How to Protect Your Home From Flooding
• How to Prepare Your Home for Drought

3. Connect with insurance providers

If you’re moving to a new area, especially one at high risk, you’ll want to learn what types of home insurance you’ll need. Not every insurance policy covers every climate-related event, so do your due diligence to ensure your home has adequate coverage. If you’re already a homeowner, it’s still important that you check your policy and confirm with your insurance agent that you have adequate coverage. While you may never need specific climate risk insurance coverage, it will give you peace of mind and can be extremely beneficial in the event of an unexpected natural disaster. 

4. Monitor property value

The best way to know if climate change is impacting the value of your home is to monitor its property value. There are a few ways to do this. First, you can receive an instant home-value estimate and a free home report on Redfin.com. By typing in your address, you’ll see a Redfin estimate for your home based on recent sales in your neighborhood. You can also monitor your property value by researching the value of other nearby properties. For more details on how to do this, check out our guide on 5 Ways to Find Real Estate Comps in Your Area.

5. Work together with your community  

Homeowners and local community members can also play an important role in fighting climate change and protecting the area in which they live. For those who reside in high-fire risk areas, homeowners can work together to clear away fire-prone brush in their neighborhood. For those that live in an area of high storm risk, neighbors can exchange ideas on how to stormproof their homes. Community members can also show up at town halls and advocate for investment in climate-resilient infrastructure to help protect the entire community as a whole. 

Unfortunately, the risk of climate change isn’t going anywhere. While climate risks have yet to have major negative impacts on property values across the U.S., as extreme weather events increase in frequency and severity, property values are likely to be affected. 

LEGAL: Redfin does not provide health, legal, financial, or tax advice. This article is for informational purposes only and is not a substitute for professional advice from a medical provider, licensed attorney, financial advisor, or tax professional.

* Climate Check data provided for informational purposes only. Read more about Climate Check’s methodologies here.  Flood Factor is a tool created by the nonprofit First Street Foundation. It uses the First Street Foundation Flood Model, a nationwide, probabilistic flood model that shows a location’s risk of flooding from rain, rivers, tides, and storm surge. It builds off of decades of peer-reviewed research and forecasts how flood risks will change over time due to changes in the environment. Flood Factor is not intended to include all possible risks of flood.

The post How Does Climate Change Affect Property Values? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

The Ten Best Drought Tolerant Plants

If you live in a dry region or one that suffers from high drought risk, such as the southwestern United States, choosing the right plants for your yard or garden can be difficult. Fortunately, there are many drought tolerant plants of different heights, textures, and shapes that can add a splash of color and dimension to your landscape, while requiring minimal watering. 

What are drought tolerant plants?

Drought tolerant plants, also known as drought resistant plants, are plants that can withstand long periods of dryness. They are typically found in areas in the US with drier climates such as Phoenix, AZ, or in the prairie provinces of Canada in cities such as Edmonton, AB. Drought resistant plants can typically last weeks without water, if not an entire season which can help conserve water usage outdoors.  So if you live in a dry area, check out this list of 10 drought tolerant plants for dry climates.

1) Cactus 

Botanical Name: Cactaceae
USDA Hardiness Zones*: 9-11
Plant Type: Succulents (With some exceptions)
Native Area: Rainforests and deserts around the world 
Soil Ph: 5.5-7.0 

One of the most versatile and durable drought tolerant plants, the cactus is a reliable plant with thousands of different species. Cacti fall into two broad categories: desert and forest. Desert cacti are more traditional that have thick spines and can grow paddles, balls, or obelisks. They produce beautiful blooms during the spring and summer. Forest cactus are not as hardy and are native to forests and jungles.

Cacti typically survive all four seasons. When taking care do not overwater, as cacti store water in their stems. Provide a good soil mix or organic and inorganic materials of sand, pumice, and perlite to create holes, as well as coconut, bark, and peat moss. About 8 hours of light is essential for desert cacti while forest cacti require bright, indirect sunlight.

2) Aloe Vera

Botanical Name: Aloe barbadensis miller
USDA Hardiness Zone*: 10-12
Plant Type: Succulent
Native Area: Africa, Madagascar, and the Arabian Peninsula 
Soil Ph: 7.0-8.5

Aloe Vera, which is derived from the genus Aloe, is a cactus-like succulent that typically grows in hot and dry climates. Originally native to Africa, these short-stemmed, drought tolerant plants fan out from a central stem and possess thick green leaves that contain a watery gel. It is a fast-growing, drought resistant plant that takes about 3 to 4 years to mature.

Aloe Vera can grow in poor soil, but requires bright, indirect sunlight for 6-8 hours a day as direct light can potentially burn its skin. These succulents are best planted alone in a pot or a well-drained bed. While they require minimal watering, they do prefer to be watered regularly to prevent their leaves from drying and shriveling up. If you would like to plant additional Aloe, this plant can be propagated by cutting off a few leaves and planting the offshoot. 

3) Agave

Botanical Name: Agave
USDA Hardiness Zone*: 5-11
Plant Type: Perennial, succulent 
Native Area: South America, Central America, and North America 
Soil Ph: 6.6-6.8

Agave plants have large leathery leaves, spiny tips, and are considered rosette succulents. This plant can grow up to 10 feet tall and wide, but grows slowly. Make sure to avoid the sap of this plant as it is toxic and keep the plant away from foot traffic as it has prickly tips. Aloe and Agave are typically mistaken for each other, however, agave is typically larger, has thinner, more fibrous leaves, and only bloom once in their lifetimes. 

Agave needs supplemental care. Make sure it gets ample sun and light for about 6 hours and well-drained neutral to slightly acidic soil. As agave matures, it will need less water, but starting out, make sure to water it every four to five days the first month, then you can begin to space out watering each week.

4) Fountain Grass

Botanical Name: Pennisetum setaceum
USDA Hardiness Zone*: 4-9
Plant Type: Perennial ornamental grass
Native Area: Southern Asia and Africa 
Soil Ph: 5.5-7.0 

Known for its skinny leaves and flowery spikes that fade to gold during fall, fountain grass is a popular ornamental plant that has a fountain-like appearance of densely clumped perennial grass, stemming outward from its base. Fountain grass comes in many different colors, though the most common is purple and red fountain grass. It’s a great plant to use as a border for privacy.

When taking care of fountain grass, it is important to cut down its foliage to prevent overgrowing. For best results, the plant must be grown in fertile soil that is well-drained. Fountain grass prefers direct sunlight for at least 6 to 8 hours a day. While considered a drought resistant plant, watering the grass at least once or twice a week, especially during initial planting, will help it adjust to your landscape. 

5) Kangaroo Paw

Botanical Name: Anigozanthos flavidus
USDA Hardiness Zone*: 9-11
Plant Type: Herbaceous perennial 
Native Area: Australia
Soil Ph: 5.8

Kangaroo Paw is known for its beautiful blooms and visual variety with colors that bloom in red, yellow, orange, or purple. This drought tolerant plant has long, slender leaves that grow on stalks in fan-like rows and are covered in white, velvet-like fuzz. 

The kangaroo paw plant can grow in both the ground or pots. However, it must have full sun for at least 6 to 8 hours in order for full bloom to occur. The plant thrives in slightly acidic soil conditions and must be watered moderately as too much water can kill the plant. If you would like to propagate, you can take a seed from the plant, soak it in hot water for 1 to 2 hours,  then plant it in warm soil and let it germinate for about six weeks.

6) Lavender 

Botanical Name: Lavandula
USDA Hardiness Zones*: 5-9
Plant Type: Herbaceous perennial 
Native Area: Europe
Soil Ph: 6.5-7.5

Best grown as annuals or in containers, lavender is a part of the mint family and is known for its sweet floral scent. This drought resistant plant has green foliage and upright flower spikes that are compact and serves as a great companion plant. Although lavender is native to the Mediterranean, there are several types of lavender across the world including English, French, and Spanish Lavender. 

The lavender plant does not like high humidity, but it can last for several years if given hot sun and dry, lean soil. You’ll want to plant it in full sunlight as shade can be a detriment to its growth. Lavender is an extremely resilient plant and can go long periods of time without water, but keeping it watered during its first growing season can help it flourish.

7) Pride of Madeira 

Botanical Name: Echium candicans
USDA Hardiness Zones*: 9-11
Plant Type: Evergreen flowering shrub
Native Area: Canary Island 
Soil Ph: 6.6-7.5

This plant is named after its origins, the island of Madeira in the Canary Islands. A biennial plant that forms flowers every other year, the pride of Madeira has sturdy wood stems, green-grey spiky leaves, and a cone-shaped flower that is typically purple. The plant can grow up to 8 tall and 10 feet wide. 

Like many drought tolerant plants, the pride of Madeira requires ample amounts of direct sunlight for at least 6 hours. It is also lenient towards different soil types such as clay, sand, or loam. The plant does not require a lot of water, however, if you notice the flowers beginning to droop, watering at the base of the plant will help revive it.

8) Trumpet Vine

Botanical Name: Campsis radicans
USDA Hardiness Zones*: 4-9
Plant Type: Vine
Native Area: North America 
Soil Ph: 6.8-7.2

As reminiscent of its name, trumpet vines are a beautiful trumpet-shaped flower that blossoms a mass of yellow, red, or orange flowers and attracts many animals like hummingbirds. Its thick, woody vines can usually withstand winters and grow up to 30 to 40 feet. This drought tolerant plant can be invasive, but with a little care and pruning, it can be kept under control. 

The trumpet vine thrives in both the sun or partial shade, however, it prefers nice-draining soil. Water as needed, as this drought resistant plant does like a moderate amount of moisture. Do not fertilize the plant as it can grow quickly. Make sure you plant it in a suitable location, not too close to your home’s foundation, as it can cause damage.

9) Yarrow

Botanical Name: Achillea millefolium
USDA Hardiness Zones*: 3-9
Plant Type: Herbaceous flowering perennial 
Native Area: North Asia, North America, and Europe 
Soil Ph: 4.0-8.0

Native to North America, yarrow is a great drought resistant plant that provides a rich source of food for pollinator insects. The plant comes in a variety of shades such as yellow, pink, red, or purple, but can be an invasive grower. 

When planting yarrow, choose a location that gets a lot of sun to encourage flower growth. Space the plant 1-2 feet apart as it can grow 2-4 feet tall. Yarrow is not particularly picky when it comes to soil type and can grow in clay, loam, or sand. Yarrow is drought resistant, but if your area gets less than 1 inch of rain per week, give it some water.

10) Bougainvillea

Botanical Name: Bougainvillea glabra
USDA Hardiness Zones*: 9-11
Plant Type: Perennial shrub 
Native Area: South America 
Soil Ph: 5.5-6.0

Bougainvillea is native to South America and named to honor Louis Antoine de Bougainville, who was a French admiral. It can grow 35 inches in length per year and is a fast grower that can climb. Bougainvillea has vibrant colored purple, pink, and orange petals that hide its white and yellow flower blooms. 

The bougainvillea plant needs ample care but has to be trimmed to keep it from overgrowing. This is best done during the fall season. When choosing a place to plant it, opt for a location that gets a lot of sun. More light gives the plant brighter hues. Bougainvillea also prefers a location that is well drained and soil that is slightly acidic. Watering varies by season. During the fall, spring, and summer, make sure the soil is slightly moist, and during the winter, make sure it is dry. Too much water can cause root rot and over greenery. 

*The USDA Hardiness Zone is a map based on annual minimal water temperature divided into 10-degree F zones. It is the standard by which gardeners determine what plants can grow and thrive across specific locations in the United States. 

The post The 10 Best Drought Tolerant Plants for Homes in Dry Climates appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

The foundation is one of the most important parts of any home, if not the most important. The foundation is what supports your home, keeps moisture out, resists movement, and insulates from the heat and cold. Foundation problems can create a number of issues throughout your home, so knowing the signs of foundation troubles is crucial. The earlier you detect the warning signs of foundation failure, the more easily a foundation repair contractor can address the damage before it gets out of hand. 

Whether you’re buying a home and concerned about its foundation, or you’re a homeowner and think you may be dealing with foundation issues, we’re here to help. Here are 11 warning signs of foundation failure that you should keep an eye on.

1. Exterior wall cracks

Look out for cracks along the exterior walls of your home. Small, thin cracks on the surface should be inspected. However, large exterior cracks shaped in a zigzag pattern may be a sign of foundation issues. Additionally, bricks that protrude from the wall should always be checked. 

2. Interior wall cracks

You’ll also want to keep an eye out for cracks along the walls inside your home. Cracks that are heading in a diagonal direction off of the corners of door and window frames are a sign you need to get your foundation checked. The larger and longer the crack line is, the bigger the problem. Smaller cracks should be monitored for changes. If they grow larger or quickly, you may have foundation problems. 

3. Bowing walls

Bowing walls are another indication of foundation problems. You’ll want to look out for diagonal cracks on the inside or outside of the wall as these cracks can indicate bowing. You can have the bowing issue fixed, but you also need to address the foundation problems causing the bowing so it doesn’t happen again.

4. Uneven and sagging floors 

Uneven floors are typically an indication that the foundation is settling or shifting underneath. If you suspect your floors are uneven or sagging, roll a marble across the floor and see if it takes a straight path or veers towards the center of the room. While this isn’t the most scientific method, it will give you a rough estimation of the problem. Sometimes the sloping is caused by bad structural design, but in most cases, the issue can be traced back to the foundation. 

5. Basement and crawl space moisture

If you have cracks in your foundation, you can be sure that water will find them and make its way into your basement or crawl space. These damp spaces can omit a foul, musty odor, which you will likely begin to smell. If you notice this type of odor or visible water in your basement or crawl space, it’s imperative to determine the source of the issue and then take steps to minimize moisture.

6. Crooked doors and door frame separation

When foundations move from their original position it can create a crooked or “out-of-square” door. This means the door frame opening no longer has 90-degree angles at each corner. Out-of-square doors are a common sign of foundation problems. 

A simple way to identify this problem is to step back a few feet from the door and examine the top edge of the door in the frame. You should see a consistent gap between the door and the frame all the way across from left to right. If one side has a larger gap than the other, then the door is “out-of-square” and you may have larger foundation issues.

7. Sticking doors or windows

If you’re noticing your windows and doors are becoming harder to close, it could be a sign of foundation problems. As an unstable foundation shifts, the shape of frames can warp. This can cause doors and windows to not close correctly.  

8. Gaps between walls, windows, or doors

Besides the fact that you don’t want cold or hot air leaking into your home, gaps between walls, windows, and doors can be an indicator of foundation problems. Look for gaps in other interior areas of your home as well. If there are gaps above your kitchen cabinets or between the wall and countertop, these could indicate a foundation problem. 

9. Drywall cracks and nails popping out of the drywall

If you notice the head of a nail peeking out through your drywall and paint, be sure to monitor it. One or two nail pops here or there can be an easy fix. However, if they occur frequently, it could be a sign of larger foundation problems.

10. A cracked or leaning chimney

If your chimney starts leaning or you notice cracks in it, you may think you have an issue with your chimney. However, these warning signs are often indicators of a foundation problem. If you notice your chimney is looking crooked, bring in a professional immediately to get it repaired and reinforced. A tilting chimney poses a serious threat to your family and your home as it can collapse entirely. Equally important, you’ll need to address the foundation issues that are at the root of the problem. If not, your chimney reinforcement may not hold. 

11. Cracked floor tile

Of course, floor tiles can be damaged by dropping things on them. However, when this happens, the damage is usually limited to a small area. If you see a crack that runs across multiple tiles or tiles that are lifted off the floor, don’t ignore the issue as there could be a problem with your foundation.

If you notice one or two of these warning signs, don’t panic. All homes settle to some extent. However, if the issues begin to arise more frequently, you may have a larger problem. If you’re concerned about foundation damage, you should contact a foundation repair contractor and have them inspect your home. An experienced professional should be able to find the source of your problem and stop further damage. 

The post 11 Warning Signs Your Home Has Foundation Problems appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Owning a home is a big investment. And being a homeowner means preparing for unforeseen events that may threaten your home – including a flooded basement. A flooded basement can be caused by a variety of events, like an unexpected pipe burst, a flooding event, or even heavy rain leaking through a window. 

For any homeowner facing the aftermath of a basement flood, you’re likely asking many questions. When is it safe to enter the basement? How do you clean up a flooded basement? Who do you call when your basement floods? And does homeowners insurance cover flooding? To help make the restoration process that much easier, use these seven steps to clean up your basement and better protect your home against a future flood.

1) Make sure your basement is safe to enter

The first step after your basement has flooded is to make sure that it is safe to enter. You should never enter a flooded area while the power is still on. So make sure to shut off any power, including electricity and gas, before going into the flooded basement. If you’re unsure of how to turn off the power, contact your electrician to shut it off for you properly. After the power is off, take extra caution when entering the basement.

Watch out for large amounts of standing water, exposed electrical wires, or signs the ceiling has sustained water damage, such as sagging, cracks, or peeling paint. If the water appears to be over an inch deep, it may be best to wait until the water has been pumped out to enter the basement. Be aware that standing water may contain harmful bacteria, so take caution and wear protective gear like tall rain boots and gloves when entering the basement. 

2) Find the source of the basement flood

There may be a variety of reasons why your basement has flooded. For example, if a natural disaster like a flood or heavy rainstorm has caused your basement to flood, it’s best to wait until the storm is over to begin drying out the space. On the other hand, if your basement has flooded due to a burst pipe or a plumbing issue, it’s important to locate the source of the flood immediately. That way, you can turn off the water source to prevent further flooding. If you are unsure of the reason for the flood, it’s best to call a professional to locate the water source.

3) Remove the water from your basement

Once you’ve determined the cause of the flood and ensured the basement is safe to enter, it’s important to begin the basement water removal process. Depending on the amount of water, you may be able to pump water out of the basement on your own. Consider using a sump pump, buckets, or even a pool pump to help drain the water out of your flooded basement. After most of the water has been removed, you can use mops, towels, or sponges to sop up any remaining water. 

However, if the water is too deep for you or your household to safely remove, call your local basement waterproofing or water damage restoration specialist. They will have the proper tools and equipment to remove large amounts of water from your basement. 

For insurance purposes, it’s important to document the extent of damage the flood has caused to your basement. Standard homeowner’s insurance policies may cover water damage from an unexpected event like a burst pipe. However, a common home insurance myth is that your policy will cover damage related to a flood. Typical homeowners insurance policies do not cover damage caused by a flood event. 

If you live in an area that is prone to floods like Cape Coral, FL, or New Orleans, LA, it’s likely you already have a separate flood insurance policy. Some repairs may be included in your flood insurance coverage. However, it’s always best to check with your insurance agent to understand what repairs are covered versus those that are not.  

4) Remove water-damaged items 

After pumping the excess water from the flooded basement, you’ll need to remove any water-damaged items to dry them out. If possible, it’s best to let these items dry outside in a sunny place or another well-ventilated area of your home. Should these items remain damp after 48 hours have passed, it may be in your best interest to discard them. At this point, they may be more susceptible to mold and mildew if they are not fully dried out. 

You should also consider ripping out any soaked carpet to let the floorboards underneath dry out. If your basement is carpeted, it may be at a greater risk of mold or bacteria growth if you do not remove the carpet in a timely manner. If you have electronics in the flooded basement, such as televisions, lamps, or gym equipment, do not touch them. Leave them in the basement to dry or contact an electrician to help you determine the extent of damage to these items. 

5) Dry the flooded basement 

To help dry out your flooded basement, open any windows or doors to let in as much fresh air as possible. It’s also a good idea to turn on any fans or heaters to help dry out the space.  Make sure you’re using a dehumidifier to keep any moisture from staying trapped in corners of your basement.

Ensuring your carpets are properly cleaned or replaced can also help to prevent mold growth. Depending on the extent of the damage, you may be able to salvage area rugs and some carpets. For example, if part of the carpet or a rug has water damage, you can contact a professional carpet cleaning company for a deep clean.   

6) Prevent mold before it grows 

Once you’ve had your basement cleaned and dried, it’s important to check for any signs of mold. Mold, in addition to bacteria growth, may cause health issues in your home if they are not treated quickly. Mold spores typically begin growing within 24 to 48 hours after a flood, so immediacy is key. You can help prevent mold growth by using dehumidifiers to keep your basement’s humidity low. If it’s not rainy or excessively humid outside, you can open any egress windows or doors in your basement to let fresh air or sun in to help prevent mold growth. 

However, contacting a professional who can assess your basement for signs of mold or bacteria growth may be the safest option for protecting your household. They will be able to determine whether mold has begun growing in your basement and the next steps if remediation is needed. Additionally, they can advise on the right precautions to take to prevent future mold growth. 

7) Prevent future floods

There are several steps you can take to help protect your home from flooding. You can install a battery-powered sump pump to help remove excess water from your basement should a flood begin. While most sump pumps require electricity to operate, installing a battery-powered backup can help if the power goes out in your home. You can also seal basement walls with a waterproofing compound to prevent water from seeping through any cracks.

Installing flood sensors can help alert you to floods the moment they start. That way if a pipe bursts in your home, you can find out as soon as the flood begins. Automated shut-off valves and check valves are other steps you can take to help prevent future floods. An automated shutoff valve is located near the primary water inlet in your house and shuts off the main water supply when a flood sensor is activated. Check valves are placed in your home’s plumbing and help prevent water from backing up into the drains. 

In the aftermath of a flooded basement, it’s important to make sure your home is in tip-top shape and prepared for future flooding. Speaking with a basement waterproofing specialist can help you determine the best course of action for preventing future floods. They will know about the right precautions to properly waterproof your basement depending on your geographic location or home’s characteristics. 

The post 7 Steps to Take When Your Basement Floods appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Whether you’re a first-time homebuyer or seasoned property owner on the hunt for a new home, you may be familiar with the process of vetting a house for potential issues. Doing your due diligence upfront can help prevent any future surprises, and nowadays it’s essential to be aware of the potential climate risks in the area you’re looking to buy in. 

With bouts of dry weather cropping up in cities like San Jose, CA, and Aurora, CO, wildfires and the risks they pose can be worrisome to homebuyers. Fortunately, with the right questions, there are ways to find out your level of wildfire risk before sealing the deal on your dream home. Here are the top 5 questions to ask before buying a home in wildfire territory: 

1) Has this home ever burned in a wildfire?

Wildfires can strike an area that has burned before, and even if a home seems far from a wildfire-prone area, a fire can quickly spread from building to building. If the house you’re looking to purchase is in an area that has seen wildfire before, especially if you’re looking to purchase a home in one of the top 10 cities most at risk for fire damage, you’ll want to do your research to determine the level of wildfire risk you may face in the future. 

Start by researching the area for past and active fires. The National Interagency Fire Center has mapped out all of the fires from 2007 to 2021. The wildfire risk map shows any active wildfires and how many acres are burning at the onset of each fire. And if you’re a homebuyer in California, a new law requires sellers in designated high fire risk areas to disclose conditions that make the home vulnerable to wildfires, if the home was built before 2010. Check with your local zoning office to see if a building permit was filed for the property. Permits for structural changes can also help determine if the house was rebuilt at any time, but keep in mind that structural changes can occur from factors outside of a wildfire. 

2) What is the risk of this neighborhood burning in a wildfire?

When buying a home, it’s important to know what fire zone your house is located in. The highest-risk zones for wildfires are locations where vegetation and homes meet. Older buildings, buildings made of wood, or proximity to flammable vegetation are all factors to consider when determining the wildfire risk of a neighborhood.

The key to buying a home in wildfire territory is to be as prepared as possible. Start by taking the time to make sure that the community is fire safe. Check with your city to see if they have prevention and mitigation procedures in place to prepare homes against the threat of wildfires. Speak with your local fire department, agency, or community group and ask about the fire history of your community, wildfire evacuation plans, drought conditions, and even heat risks. You can also check out your city’s wildfire risk score to see its impact on your neighborhood and surrounding areas. Find this information on Redfin for every city, neighborhood, county and zip code when searching for listings under the housing market insights section. Such as this example from San Jose, CA’s housing market.

3) What could make this home vulnerable to wildfires?

Weather conditions such as drought, extreme heat, high winds, and any surrounding vegetation in the environment can all impact how fast a wildfire spreads. Check if the home has defensible zones around it to reduce the number of fuel sources for a wildfire. Don’t forget that building materials, such as wooden roofs or single-pane windows, can also cause a home to be more susceptible to igniting a fire.

Protecting your home starts with small, manageable steps, and luckily there are many low-cost improvements you can make to fireproof your home from wildfires. You’ll want to start with the roof since it’s the most vulnerable part of your home and work your way down. Clean out your gutters and clear any flammable materials such as dead leaves to prevent the risk of debris from igniting and causing a wildfire.

4) Is this house built with fire resistant materials? 

When buying a home in wildfire territory, look to see if there has been wildfire risk reduction work on the house. Since the roof is the most vulnerable part of your home, check to see if the seller disclosed whether fire-resistant building materials such as concrete and clay tiles, metal, slate, or composite shingles were used. If not, you can also consider negotiating for repairs like replacing the old roof with fire-resistant materials as they will give the entire structure a better chance of surviving a fire. Speak to a professional to help determine what materials are best for the roofs in your area. Multi-pane or tempered glass windows will also provide additional protection during a wildfire and reduce the chances of breakage from extreme heat. 

5) Will your homeowner’s insurance cover damage from a wildfire? 

Typically, your homeowner’s insurance policy will cover damage from fire, including wildfires. For example, if a wildfire damages your house, the policy will include coverage to help repair or rebuild the home and other structures, pay for temporary housing, and replace belongings. The cost and extent of coverage can vary with the wildfire risk in your geographic area. 

Check your policy to understand your deductible and specific coverage details for wildfire damage to your dwelling, personal property, other structures, and landscaping such as trees or shrubs. Some insurance companies may increase deductibles, charge higher premiums, cap payouts, or even decline to issue policies for homes in higher-risk areas. Should your insurance company decline to issue coverage for fire damage, you’ll need to purchase a separate wildfire insurance policy.

The post 5 Questions to Ask Before Buying a Home in Wildfire Territory appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

With all the steps you’re required to take during the homebuying experience, you may be forgetting to ask some very important questions, like when was the house built and what exactly is its history? So, before you strike a deal with a home seller and begin the closing process, it’s important to learn about the property history of your soon-to-be home. Below, we outline how you can search for a house’s history so you know exactly when it was built, any major renovations that were completed, and other important details to help make homeownership that much easier and stress free.  

How can I find the history of my property?

Finding the history of a home that you own or are looking to buy can be a fascinating rabbit hole to dive into. However, it can also be a little tricky. You’ll probably start with a public records search on your local city and county websites, but may find significant differences in what’s available online from different websites. This can also help determine how many steps you’ll go through to find your property’s history. But don’t worry, we’ll walk you through the process.

Step 1. Look up summary info

The first step in finding a house’s history is looking up the address of the property on a real estate website. The property details listed will include the assessor’s parcel number (APN) or tax ID number and the year the house was built under the Public Facts section, among other details. Be sure to write down the APN or tax ID number, since you’ll be using this in many of the steps below. 

Step 2. Go to your county recorder’s website

A county recorder’s office, which may also be called a county clerk’s office, locates all taxable property in the city or county. They identify ownership, establish a taxable value on the property, and record other documents, such as deeds of trust, reconveyances, liens, and lien releases.

Step 3. Look at the county parcel viewer 

The quickest and most straightforward way to locate property information on a county recorder website is with the APN number. If you couldn’t find a parcel number for a property by looking on a real estate website, you can most likely use your city or county parcel search feature.

An assessor’s parcel viewer allows you to search by address or parcel number—or visually, by zooming in on the property on the interactive map. In most cases, you can choose the type of map you want to see, like aerial satellite imagery, streets, topographic, and others. 

You may want to switch between various map types to make the search easier. For example, if you have the address of the house, and the house’s location on a map, you can either search for the address or zoom in on the neighborhood with the aerial map and switch to the street map to find the street. 

When you click on the property, you’ll see a pop-up box. This box contains basic info about the property. From here, you can access various property records, including when the house was built, the number of bedrooms and bathrooms, assessed value, and tax history.

If a parcel viewer isn’t listed in an obvious way on a recorder’s site, you can search for it on the city or county site, or via a regular search engine. It might go by other names, such as property information viewer or parcel lookup, especially for counties that don’t offer a map-based interface.

If the property consists of multiple tax parcels that are under common ownership or have been formally combined into a single parcel, keep in mind that some of the records may still be listed under the original parcel numbers.

Step 4. Access property records online

Next, see if the county or city has an online portal where you can look up more detailed public records data for property taxes and permitting. This includes deeds, liens, and more. Depending on the county or city, you can often view these records for free online. 

Note that online records will have limited availability in terms of what year they start. Online records might begin anytime between the 1970s and the 1990s. However, if your house does not have online records between these dates, you might have to search microfilm. Microfilm is a photographic record of documents, such as deeds, building permits, or other legal records. Sometimes microfilm records are found digitally, but other times you may need to view them in-person.

It is possible that the property records you want are split between city and county databases. For example, the county may have records dating from 1970 to 1980, while the city might have records from 1981 to 1990. In that case, you may need to check both city and county records to find all the property records on your home.

Step 5. Order copies of property records

If you can’t view a document online, you can usually order copies. Or you might want hard copies of documents that are available online. You can normally get copies of property records in-person, online, by mail, or by dropbox. If you want certified copies, you will typically have to pay the recorder’s office a nominal fee by page or document.

Step 6. Get permit records

Permits can tell you a lot about the original construction of the property and any later additions to the home. The city or county permitting department may have an online permit center, where you can search for current or past permits by address or parcel number.

For some houses, looking up detailed public records will be very straightforward. In other cases, it won’t. For example, if the house was built in the 1920s, then was remodeled in the 1980s, you likely won’t know what was included in the remodel until you get the building permits from the 1980s. The original permits from the 1920s might only be available on microfilm and may be a little more than a hand-drawn sketch.

Normally, you would find records of permits at a planning or permitting office. If the jurisdiction of the property is a city, you would contact the city for permit records. Otherwise, you’ll get the permit records from the county. Keep in mind that in some areas, both city and county records will exist. For detailed permit records, you’ll often have to request them in digital form or make an appointment to review the original copies at the building or planning counter.

You can typically find permits on a wide variety of projects, additions, remodels of different rooms, finished basements, upgraded electrical components, complete renovation, or even a change or use such as when a commercial building becomes residential.

How can I find the owner of a home or property I’d like to buy?

In some cases, you’ll need an owner’s name or other information to do a property search for public records information. So, it would help to find the name of the current home or property’s owner. 

Going back to the county parcel map, locate the property again on the map, and click on it. Some parcel viewers will give you the owner’s name. If not, check the property report. This often includes the most recent sales history listing the seller and buyer, as well as the change in ownership instrument, like a deed. You can often click on the recording number to see the deed. You may also be able to look at the property tax bill, which typically lists the owner’s name and address.

Deeds and ownership transfers

Another way to find an owner’s name is through deeds. When you look at a property on a parcel viewer and find the property detail report, you may see the last ownership transfer and document type. In some cases, this may show you names and dates. But it also may just show you a number you can use to request the latest deed via email or in person from the assessor’s office.

You can also find the owner through a records search for the property and locating the “grantor” and “grantee.” Typically, the grantor is the seller, or the one taking out a deed of trust or mortgage and the grantee is the buyer or inheritor, or the bank holding the deed of trust or mortgage. Note that some search results may also show nearby properties, so be sure the parcel ID matches the one you’re researching. 

Census and planning records

Other options include census records, depending on the year. These records can give you details on the residents and their relationships over time. And if your property is on the city water and sewer system, you can check with your local planning department or inspections department for side sewer cards. Side sewer cards can show you the dates that side sewers were installed at a specific address—and the names of property owners and contractors. Keep in mind, you’ll typically need the parcel number or address to find side sewer cards. 

What kind of property details can I get from public records on a house’s history?

As we described earlier, the local parcel viewer is a great place to begin any property records search. The corresponding property report gives you a wealth of information on the house, including the year it was built, floor plans, photos, condition, lot size, and tax roll history.

Property details you can get from public records include: 

• Property info: Which includes owner’s name, address, maps, parcel and block number, zoning, jurisdiction, and any historical preservation status. You can also see the property tax information and its status (if it’s been paid or is delinquent). Other property info includes the size of the lot, square footage, floor plan, number of rooms, certain fixtures, number of stories, what year the house was built, and if the home was remodeled.
• Assessor’s summary, assessor’s roll values, or tax rolls: Tax rolls will have basic descriptive information about the property such as name, legal description, taxes paid, and the assessed value of the property. You can typically find the tax roll history in the property report.
  
• Zoning districts, special use districts, and regulations such as additional dwelling units (ADUs) 
• Environmental info and environmental impact statements: This can give you specialized info about the land and property, including potential air pollutants, flood risk, seismic hazards, and slope info.
  
• Maps: Maps can show you how the area, land, property, and street layout have changed over time.
• Surveys: You may be able to look at a land survey on the county recorder’s website. A land survey will show you the home’s property lines. If it’s not online, you can request copies from the recorder’s office. You may also find surveys on a maps section for land records. Note that surveys aren’t always indexed by parcel number, so in many cases, you’ll need to copy and paste the abbreviated legal description.
• Active and completed permits: Permits usually have the name of the property owner and contractor, as well as the address. You might see permits listed in the property report.
• Planning or building department complaints.
• Encumbrances, liens, deeds, and easements.
• Plumbing permits, septic system records, and private well records.
• Photos: These are typically searchable by parcel number or legal description and can often be found at the city, county, or regional archives. You can often see an exterior photo in the property report, via a parcel viewer. Property record cards usually have photos. It’s not always straightforward to find aerial photographs, but you may find some city or county agencies that make those available online.
  
• Area reports as part of the property report: These include taxing district, maps, the area’s typical valuation, and other details. If you’re lucky, this will also have a report from the department of assessments about the neighborhood. An area report may include a one-to-two page overview of the area the house is in, including topography, the typical condition of homes, and the specific subareas of the neighborhood.

What if I’m looking at an older home?

When you buy an older home, you might want to learn about the history of ownership. You’ll probably also want to know how the house was upgraded over time, if anything different was on the property beforehand, as well as if and how the land was divided. 

Historical materials are often found within various local agencies. One place to start is the archives site for your city, county, or region. You can typically find property record cards in the archives department. These cards will give you photos and historical information about the property. From there, you can access record cards with a parcel number or the abbreviated legal description.

Property record cards may include photographs and exterior sketches, description and date of construction, ownership information, and permit numbers. To search for property records of a historical home, you’ll typically need the parcel number, address, or legal description. Note that with older homes, the parcel number, street name, and street number might have changed over time.

The Sanborn Fire Insurance Maps are a great resource for seeing if the structure of an older home has changed over time. These maps show the size, shape, and construction of the building as well as firewalls, locations of windows and doors, sprinkler systems, and types of roofs, and neighborhood infrastructure like water lines. 

You may also want to look for reports on the history of a specific area of the county. A report will give you a comprehensive historical look at a broader regional area that includes your property. Unlike the in-depth reports on a neighborhood or smaller area you might find from your county, these historical reports will include more details on the history of how the land was used. You can also use your local library’s special collections to find more about the history of the area.

Can I do a free online property title search?

The short answer is yes. While most of the resources described above are free or very low cost, running through a comprehensive title search will take some time. But if you just want to know when your home was built or who currently owns a property you’re planning to buy, you can likely find that out in just a few minutes. 

For example, in the property details shown in the parcel viewer described above, you can often see the sales history of the property. This will show the sale price, the seller and buyer’s name, and the type of deed. The sales history will also show you some, but not necessarily all, recorded easements and encumbrances.

What if I have questions about the process?

While many types of property records are straightforward, others may be harder to make sense of. Luckily, there are professionals who look at these documents all the time, including real estate attorneys, escrow agents, and real estate agents. So, if you’ve started your search and have questions, be sure to reach out to your real estate agent or other trusted real estate professional.

The post When Was My House Built? How to Search the Property History for a Home appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Considering all that’s happening with climate change and the potential risk it brings to homeowners, you may be wondering if your house is in a flood zone. Whether you are a first-time homebuyer, looking to sell a vacation home, or simply a homeowner looking for some answers, you have the right and responsibility to find out.

Flooding is one of the most expensive natural disasters, causing damage to not only your house’s structure but your belongings. In fact, if your home floods just one inch, the damage can cost you upwards of $25,000. Flood damage can result from many environmental factors, such as hurricanes, a breached dam, severe storms, over-saturated ground from overflowing rivers, lakes, oceans, and more. 

Whether you’re living in Vancouver, BC, or Miami, FL, floods can happen anywhere, and the number of homes at risk of flooding increases every year. However, many people across the nation aren’t sure what flood zone their home, or prospective home, is in and if they’re truly at risk. We’ll walk through how to check your home’s flood zone, what the different flood zones mean, and what you need to know if you’re buying or selling a house in a flood zone.

Check FEMA’s flood map to find out if your house is in a flood zone

To start, visit the Federal Emergency Management Agency (FEMA) Flood Map Service Center, a tool that displays information such as flood zones, floodways, and your home’s risk level. Type in a property’s address, and a map showing its flood zone will appear. As you’re analyzing the map, it’s important to remember that just part of the home’s lot could be in the flood zone. FEMA’s flood zone classifications range from low-risk to high-risk areas. Zones B, X, and C are low-risk flood zones, while A or V are high-risk flood zones. Let’s dive into what the different flood zones mean.

What do the different flood zones mean?

Zones with a letter grade of A or V are considered high-risk areas, while areas with letter grades of B, C, or X are considered low to moderate risk zones. FEMA has numerous flood zone classifications. Here are the most common flood zones and what they mean:

*Base Flood Elevation (BFE): The elevation of surface water resulting from a flood has a 1% chance of equaling or exceeding that level in any given year.

It’s important to note that just because your home is not in a designated flood zone doesn’t mean flooding won’t happen. In fact, 20% of flood claims each year come from areas that are low risk. This is partly because flooding is so unpredictable and can be the result of several factors, such as thawing snow, burst pipes, hurricanes, tornadoes, flash floods, construction issues, and more. 

What to know about buying a home in a flood zone

For almost everyone, finding out a home you’ve fallen in love with is in a high-risk flood zone can be a little heartbreaking. Sure, buying a home in a flood zone comes with additional risks, but it’s not a total deal-breaker. However, there are some things to consider that make the process a little different than buying a house in a low-risk flood zone, including:

Flood disclosure requirements

In the United States, there is no federal law that says home sellers are required to disclose information about a property’s flood risk or previous flood damage to prospective home buyers. However, 29 states do have flood disclosure requirements. This means, depending on where the property is located, it may be in your hands to research the flood risk of a property by visiting the Federal Emergency Management Agency (FEMA) Flood Map Service Center.

The general rule of thumb is that a home seller should never hide material facts about a home from prospective buyers regardless of state laws. Some states do have a specific form sellers use to disclose any known issues that could impact the safety or value of the home.

Flood insurance requirements

Even if your home is not in a high-risk flood zone, you should consider getting flood insurance. For example, should your home flood just one inch, the damage can cost you upwards of $25,000. Your mortgage lender may require you to have flood insurance coverage even if your home is located in a moderate-to-low-risk area. While you can purchase flood insurance at any time, note that it won’t take effect until 30 days after you’ve paid your premium.

Homeowners with property in a high-risk flood zone can obtain coverage through a private flood insurance plan or through the National Flood Insurance Program (NFIP), a program that covers nearly 5 million policyholders nationwide. NFIP is funded and backed by the federal government, which FEMA oversees. However, NFIP coverage isn’t available everywhere. Find out if your insurance provider participates in NFIP, or simply call your provider to inquire about adding flood insurance to your homeowner’s policy. Let’s look at the differences between the two options:

Home values impacted by flood zones

Now, you may be wondering if property value can be negatively impacted if it’s in a high-risk flood zone. The short answer is yes. However, homeowners can offset this and protect the home from flooding by implementing a few strategies, such as purchasing flood insurance, installing a sump pump, investing in flood sensors, and adding barriers around your home.

What to know about selling a home in a flood zone

Real estate disclosures and flood zones

Real estate disclosures, or a seller disclosure, is a set of documents answered by the seller of a home, listing any known issues with the property and any remodel projects completed during the time they owned the home. All states have laws regarding real estate disclosures and documents that provide details about a property’s condition that might negatively impact its value. However, as mentioned above, the specific laws regarding previous flooding information and flood zone status vary state by state.

Strategies for selling a house in a flood zone

It’s true that some buyers may not be willing to take on the risk of living in a flood zone. However, there are some strategies to make your home more attractive to those on the fence:

• Adjust sale price based on flood zone and the local housing market. Work with your real estate agent on a pricing strategy to determine a competitive sale price and get buyers through the door.
• Be sure to mention if your home has never flooded. Request a copy of a free report showing your past seven years of insurance claims history through the Comprehensive Loss Underwriting Exchange (CLUE). This may help put potential buyers at ease and give them peace of mind if they’re hesitant about making an offer.
• Offer to cover the insurance bill. Another option is to offer to cover the flood insurance costs for a year as an incentive to buy the home. This can be done through an adjustment to the purchase price or as a credit at closing. 
• Ask about the Community Rating System. The Community Rating System is an optional incentive program that encourages community-wide initiatives to reduce flooding. Communities enrolled in the program may be eligible for discounted flood insurance.
• Order a certificate of elevation. A potential buyer may be required to present the elevation certificate to their insurance agency as well as their lender. The certificate describes the risk a property would be at if a major flood were to occur and if the property is above the height of estimated floodwaters. 

Reduce flood risk with home improvements

There are many ways to reduce the risk of flood damage, and not all of them are difficult or expensive. To appeal to more buyers, consider these home improvements and renovations:

• Elevate your home. Raise the first floor of your house by just one foot above base flood elevation, and you could see a 30% reduction in annual flood insurance premiums, according to FEMA. It’s important to note that a project like this, on average, costs about $47,500.
• Elevate major appliances. Save yourself and future buyers from an additional flood insurance surcharge by relocating your appliances, water heater, HVAC system, and furnace to an elevated platform.
• Reduce the risk of sitting water by adding vents in the crawl space. Water and moisture can cause costly structural damage to your foundation. If your home is ever to flood, vents in the crawl space will allow any water that enters the crawl space to exit back out. Sitting water can damage your foundation so it’s important to properly maintain a crawlspace to prevent costly repairs in the future. Vents in the crawl space allow water to flow freely in and out of the enclosure, reducing the risk of structural issues in the event of flooding. 
• Add barriers or sandbags around your home. Beams, levees, and flood walls can reduce the risk of flood water entering your home. Be sure to research whether your local building codes permit barriers around your home. If permanent barriers aren’t an option, you can always add sandbags around your home to create a protective wall for added protection.
• Install an automatic shutoff valve and check valve. An automatic shutoff valve installed near the primary water inlet in your house can help reduce the risk of major flood damage to your home. When a battery-powered flood sensor is activated, it turns off the main water supply. You can also install a check valve in plumbing to prevent flood water from backing up into your drains.
• Be proactive and invest in flood sensors. Flood sensors are placed in several locations throughout your home and will notify you the moment water is detected where it shouldn’t be. It will also alert you of other events that can cause water damage, like a burst pipe or overflowing sink.
• Install a battery-powered sump pump. A sump pump is designed to remove water that has accumulated in your basement and out of your home to a dry well or storm drain. It can cost about $1,200 to install a sump pump but it’s a solid investment to minimize flood damage.

The post Is My House in a Flood Zone? Search FEMA Flood Map by Address and So Much More appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

What is a Mother-in-Law Suite?

A mother-in-law suite is a residence or addition built for an in-law or relatives. The suite is either connected to or built on the same lot as a home that’s occupied by other family members. Often, the purpose of a mother-in-law suite is to make it possible for elderly family members to live near adult children, yet still, maintain their independence and privacy. Sometimes, grandchildren live with their parents and grandparents in the same house. This type of living arrangement is called a multigenerational household.

The concept of a mother-in-law suite, or “granny flat”, has been around for decades. It was popular in post-WWII America until zoning laws were put in place that eventually shut down their construction. Today, the mother-in-law suite, whether it’s a portion of a house that has been remodeled to accommodate another generation, or a smaller, detached “granny flat”, is seeing a resurgence.

A typical mother-in-law suite consists of a sleeping quarter, living quarter, kitchen, and bath. It is separate from the remainder of the house and household, yet close enough that grandparents can help with grandchildren, and as grandparents age, close enough for adult children to care for their parents.

Mother-in-law suites can be as simple as a single room that has a bed, couch, and place to eat, along with access to a bathroom, but ideally, it would have its own private bathroom.

They can also be located in a separate portion of the house, such as a basement with a separate door, garage, or attic that has been remodeled.

Why Are Mother-in-Law Suites So Popular?

Mother-in-law suites are becoming a more and more popular home trend among families today. According to USA Today, approximately 51 million Americans live in multigenerational households, a 10% increase since 2007. 

One reason why they are so popular is that this living arrangement allows both generations to share in the financial responsibilities that come with homeownership. With the cost of student loans ever-increasing, some young adults leave college saddled with debt. Mother-in-law suites provide an independent living situation that can help post-graduates eliminate that debt much more quickly than if they carried the burden of rent or a mortgage on their own.

Another reason why in-law suites are so popular today is due to the need to downsize and the sharp rise in the cost of assisted living facilities for aging adults. Nationwide, the average monthly cost of assisted living in the United States is $4,050. This amount can place a financial burden on both parents and children.

Yet a third reason there has been an increase in interest in an “in-law” suite, is due to an increase in the number of people that can work from home on a permanent basis. According to Pew Research, about 54% of employed workers would like to work from home. That is nearly a 30% increase over the number of workers who had been working from home. Many of these workers prefer to have a designated area in which to conduct their business while keeping the family living area separate.  

What Are the Common Types of Mother-in-Law Suites?

Interior: Interior mother-in-law suites are located within the house where the family resides. This could be in a basement that has been converted or in the main portion of the house. Some homes have floor plans that comfortably accommodate bringing in extended family members. These homes have bedrooms at opposite ends of the house, and separate bathroom facilities for both generations. They share a living room, dining area, and kitchen space.  

If the basement has been transformed into an in-law suite, it will typically have its own kitchen, bedroom, bath, and living area. Often they have a walk-out basement that provides a separate entrance into the house.

Attached:  An attached mother-in-law suite includes a separate living space built onto an existing dwelling. Often attached to the side of the house or the back as an addition. 

Detached: Detached mother-in-law suites are also called accessory dwelling units (AUD), granny flats, or secondary suites. These are typically smaller, separate homes that are constructed on the same lot that holds a single-family residential house. They vary in size and amenities. 

Garage or Attic Conversion: An attic or garage in-law suite is one where the garage or attic portion of the home is remodeled to accommodate aging parents. The remodel includes a bedroom, bathroom, kitchen, and living area. Sometimes attic space can be found over a stand-alone garage. This provides even more privacy than an attic located in the main house.  

How Much Does a Mother-in-Law Suite Cost to Build?

The cost to build a mother-in-law suite varies greatly depending on which type of mother-in-law suite best suits your situation, how big of a suite you plan to build, and the specific amenities you want to incorporate into the space. Let’s look at each option a little closer.

Interior:  Like each of these options, you can spend quite a bit remodeling or finishing a basement into a mother-in-law suite. However, redoing a basement or portion of the main house into a separate suite for mom can be a less expensive option than building a detached mother-in-law residence from scratch. According to HGTV, it can cost less than $3,000 to more than $200,000 to convert a basement into extra usable space. Keep in mind when working in a basement, you could run into problematic issues such as water damage that would require costly remediation before you ever even get started on the actual addition.

Attached:  Buildinganadu.com states that the cost to build a 500 square foot attached mother-in-law suite costs as little as $106,000 or up to $216,000 depending on the full scope of the project. Again, this can vary depending upon the size of the space, how elaborate it is, and whether you decide to do any of the work yourself.

Detached:  According to Bob Vila, the cost to buy a new prefab detached granny pod can range from as little as $30,000 for a “bare-bones” structure or up to $125,000 on the high end. This includes the cost of delivery and placement on an already constructed concrete pad. Of course, the cost to build a detached structure can be much higher, should you decide to create a “smart” home for example.

Garage Conversion: Expect to spend $15,000- $20,000 to convert a garage or existing shed into a mother-in-law suite.

As you can see, the cost to remodel, build, or buy space for a mother-in-law suite is dependent upon many individual factors. This makes it difficult to pinpoint an exact cost in any given situation. However, starting with space you already have, such as a basement, attic or garage could save you some money overbuilding or buying a new stand-alone structure.  

How Do You Build a Mother-in-Law Suite?

Building a mother-in-law suite takes forethought and planning, as you might expect. Whether you are adding onto the size of the main house, remodeling a garage or basement, or going all out and building a separate structure in the backyard, you will need to check codes and ordinances to determine what is, and isn’t allowed in your area. These zoning laws, occupancy codes, and even homeowner’s association covenants, conditions, and restrictions (CCRs) will dictate exactly what you can do.

Once you have verified that your project is permitted, you will need to decide how much, if any, sweat equity you will put into the project, or if you would rather pay to have someone else complete the whole project for you.

As you prepare to start building, think about the future use of the suite, especially if you are building a detached unit. You may want to rent the unit out and having separate electricity, water, and gas run to the ADU will enable you to keep utilities separate from the main house. This will also allow you to shut them completely off if the building were vacant for a while.  

Keep your aging relatives in mind when you are in the design stage as well. Will doors need to be built that can accommodate a walker or wheelchair? Do handrails need to be placed in the bathrooms? How about a zero-curb shower entrance? Thinking about future-proofing your relatives now can make a more seamless aging transition for them down the road.  

Some adult children are choosing to move from their current home into a house they design and build that includes mother-in-law quarters in the design. This has caused builders in some parts of the US to offer blueprints with mother-in-law suites already drawn in.  

What Else Can Mother-in-Law Suites Be Used For?

Sometime in the future, your mother-in-law suite may become vacant. If so, there are various options that you can do with that space, regardless of whether it’s attached to the main house, built into the main house, or completely separate.

In-law suites that are attached to the house can double as a backyard office, a long-term rental property, (check your local codes) an Airbnb, a business endeavor such as a yoga studio or art studio, a home gym, nanny quarters if you have young children and would like to hire help, or even a commercial kitchen for a baking/cooking business.   

A vacant, detached in-law suite could also be used as a she-shed or a man cave in addition to many of the above ideas.

Do Mother-in-Law Suites Add Value to My Property?

Yes, though it is difficult to say exactly how much value they add for several reasons. The primary reason is there are several variations of in-law suites, as described above.

Also factoring into the value is the amount of “finish” and amenities that are included in the suite. A bare-bones makeover of an outdoor shed will be of less value than a new shed kit that is turned into a detached mother-in-law suite or one that is custom built by a builder. 

And even though mother-in-law suites have been around since the 1940s, they have been difficult to track and even more difficult for appraisers and real estate professionals to place a valuation on.

There are variations attributed to value even within the appraisal industry caused primarily by a lack of suitable comps. So even though they are popular, and continuing to gain in popularity, not every neighborhood has an in-law suite that can act as a suitable comparable sale when determining value.

Another factor that impacts the value that’s able to be placed on a mother-in-law suite is that some local jurisdictions allow a detached unit to be rented out (such as with Airbnb), while others stipulate that only a relative can reside there.

Ultimately you, either as the buyer of a multigenerational home or as the seller, assess the value of having, or building an in-law suite. As a seller, you must realize your home won’t appeal to everyone, especially if you have converted one of two garage spaces into a mother-in-law suite when your neighborhood typically offers at least a two-car garage.

On the flip side, should you build out the back of your home to accommodate grandma, that extra living space may indeed increase the overall value of your home when you go to sell, provided the work was completed professionally.  

Lastly, there is also the personal value the extra space provides while you are the one using it, whether it’s for housing newly married college kids, elderly relatives, or guests who come for frequent visits, there is a lot of usefulness from adding a mother-in-law suite to your home.  

The post What is a Mother-in-Law Suite, And Does it Add Property Value? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

First impressions are everything. So when it comes to selling your home, even the smallest details are important. While little things such as paint chips or mismatched hardware seem like minor cosmetic changes you may not have to worry about, not taking care of them could make your home less attractive to potential homebuyers. Updating your home with a fresh coat of paint or changing out fixtures can give your home that much needed facelift to set it apart from the competition. To help you get started, we compiled a list of 10 easy ways to give your house a facelift to help it sell faster.

1) Bring new life into a room with a fresh coat of paint

Adding a fresh coat of paint is a simple solution that can make a room look and feel brand new. As you prepare your home to sell, start by identifying rooms that have paint peelings, scuff marks, or bold colors that clash. Then, go with a neutral color scheme that will appeal to a wide range of buyers. Light and airy tones such as white, grey, and beige can make a room feel larger, brighter, and more welcoming.

2) Install crown molding for an elegant look

For an added touch of sophistication, installing crown molding can make your home look clean, timeless, and more valuable. Crown molding can both hide irregularities in the foundation of your home and also make ceilings look higher. Typically, crown molding is installed where the ceiling meets the wall, however, you can also add it above entryways, fireplace mantels, and bookshelves to create a vintage feel throughout your home.

3) Give your house a facelift by updating your ceiling fan and light fixtures

Replace those outdated ceiling fans and lights with chic, modern, and eco-friendly fixtures. Newer ceiling fans can help lower energy costs, provide additional cooling during the summer months, and can instantly update the look and feel of a space. A replacement can cost anywhere from $150 – $400. In addition to ceiling fans, there are also many different light fixtures that can help decrease energy consumption and change the ambiance of a room to help spotlight the home’s best features. Brighter lights, especially during twilight showings, can make the home feel lively and welcome. 

4) Stain your floor to enhance its appearance

Instead of replacing your hardwood floors, refinishing them with a stain can cost less money and create a premium look. A floor stain and sealant creates a protective topcoat to prevent scratches and it also increases safety by reducing potential splintering. If applied correctly, floor stains can accentuate natural wood features and can even copy the look of different wood types.

5) Add a backsplash to highlight your kitchen

Replacing the tiles of your kitchen backsplash is a cosmetic change that can pull together the design of your kitchen and give your house the much-needed facelift it deserves. There are a variety of backsplash options available, from subway tiles to marble. If you feel daring, choose a hexagonal or diamond tile to create a geometric pattern and make your kitchen stand out.

6) Modernize your kitchen cabinets 

New kitchens may be one of the most valued home features by homebuyers, but that doesn’t mean you need to fully remodel your kitchen to get that updated feel. Toss any dated hardware and replace it with newer alternatives. Hardware fixtures can add details to your kitchen and compliment the style of your cabinets. It is important to make sure that the size of your hardware matches your cabinets to avoid any imbalance in design. If you find that your cabinet colors don’t match the floors or countertops, an easy cosmetic change that will give your house a facelift is to simply paint them. This not only saves you money, because paint is cheaper than buying all new cabinets, but it can be done quicker so you can focus on the rest of your home.

7) Update your bathroom to create a spa oasis

There are many bathroom cosmetic changes that won’t cost a fortune but will make a huge difference to potential buyers. If your vanity is outdated, consider swapping out the countertop for a simple laminate or granite slab and painting the cabinets to match the tile. A larger, updated mirror with built-in lights can also go a long way to making the space feel more spacious and brighter. Lastly, simple shower renovations such as replacing your showerheads and handles can make your bathroom feel like an oasis homebuyers want. 

8) Clean up the patio to be a place you’ll never want to leave

If you live in an area that gets a lot of sun like Phoenix, AZ, or Calgary, AB, having an attractive patio where potential buyers can see themselves lounging around on a nice summer day can be a huge selling point for your house. There are many simple ways to make your patio a backyard oasis they will never want to leave. Start by power washing your patio to remove any dirt or weeds. Once clean, polish up the space with string lights across the roof and surrounding trees, add potted plants and patio furniture, and then to bring it all together put down a stylish rug to make your patio feel inviting. 

9) Give your backyard a makeover

Backyards can be an appealing home feature, especially for families with kids or a dog. Updating your landscape is a simple cosmetic change that can increase the curb appeal of your home. Make sure to prune and trim any overgrown trees and bushes, mulch the flower beds, mow the lawn, and if you’re selling during the springtime, add a pop of color with flowers such as pansies, daffodils, and primrose. There are also many simple backyard additions to create outdoor living areas within your yard like setting up a hammock between trees or creating a fire pit area.

10) Deodorize your home and add some scents 

One of the first things buyers may notice when they walk through your home is what your home smells like. You may have a dog or cat or even a collection of old books you like to keep on display. Nonetheless, every home has a specific smell you might not notice anymore, so it’s important to deodorize your home to get rid of any lingering odors. Start by identifying the cause of the smell. This is usually found in carpets or bathroom floors. Then sprinkle baking soda on the surrounding area and furniture. This will neutralize the smell. You’ll want to also remove any conflicting smells by removing pet litter boxes, throwing away expired food in the fridge, and leaving your bathroom window open for ventilation. Once clean, you can use air fresheners, candles, and diffusers to make your home smell amazing to anyone who walks in the front door. 

The post 10 Ways To Give Your House a Facelift Before Selling appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

You never know when a disaster will strike and damage your home – whether it be storm damage, fire damage, or a burglary. One way to ensure you have financial protection in case of an emergency situation or unexpected event is through home insurance. However, there are many home insurance myths that can lead homeowners to a costly discovery of gaps in coverage. 

Common misconceptions around home insurance include what it does and doesn’t cover, what type of plan is best, and whether you legally need coverage. Here we debunk 7 of the most common home insurance myths.

Home insurance myth #1: Mold, floods, and termite damage are covered

One common misconception regarding home insurance is what is and isn’t covered in the insurance policy. Homeowners insurance will reimburse you when your home or personal property are burglarized or damaged by an event that is covered by your policy. Mold damage, flood damage, and termite damage, however, are not covered in most standard policies. Let’s talk about why.

Flood damage

While normal water damage caused by things like a broken pipe or an overflowing sink is typically covered, damage from a flood is not typically included. This is because a flood is considered a gradual event rather than sudden or accidental. However, some home insurance policies have a special clause for this type of damage. If your home is at risk of flood damage or sewer and drain backups, consider purchasing flood insurance to protect your home from flooding. In fact, some mortgage lenders require coverage even if your home is in a moderate-to-low risk area. Check out Federal Emergency Management Agency (FEMA)’s Map Service Center to find out what level of risk your home is in.

Mold and termite damage

Mold damage, in the eyes of an insurance company, is a preventable problem and is the homeowners financial responsibility. One exception is if it’s related to a covered peril, an event that your home insurance will reimburse you for. In other words, if the mold, mildew, or fungus is a result of a specific problem, such as a burst pipe, it will then be covered by your policy.

All across the United States, but most commonly seen in cities like Los Angeles, CA, New York, NY, and Miami, FL, termites and other pests can find their way into homes and wreak havoc. The cost to remove termites and repair the damage is usually excluded from a homeowners insurance policy. This is due in part to the timespan it takes to develop a termite infestation – usually three to five years – and homeowners insurance covers damage that is sudden and accidental. It’s also difficult to gauge when exactly the damage occurred, so if you’ve changed insurance carriers in the past few years, there may be some debate on which insurance provider would cover the cost.

Consider scheduling a yearly mold inspection and termite inspection, and be sure to keep an eye on potential problem areas yourself. Ready to learn more about what isn’t covered? Don’t forget these 5 things to know about home insurance too!

Home insurance myth #2: Everything in my house is covered

It’s important to read through your insurance terms to understand which belongings are covered by your insurance. Your personal belongings, such as your furniture, appliances, and even your belongings outside of the home are typically covered. 

However, home insurance policies have limits on how many luxury goods are covered. You might also be surprised what is considered a luxury good to some insurance companies. Things like expensive jewelry, art, clothing, or computers may not be covered in the event of an otherwise covered incident. Be sure that the coverage limits in your policy are adequate to fully protect you against loss due to damage or theft. If necessary, you can pay to include additional coverage for those items.

To ensure that all of your most prized items are covered, you will want to read the terms of your policy carefully. Consider creating an inventory list of your belongings. This can be helpful when determining the amount of coverage you need, but also in case of an unexpected event, you’ll have documentation on what you need to be reimbursed for.

Home insurance myth #3: I am required by law to have homeowners insurance

Another common homeowners insurance myth is that coverage is required by law. The truth is, none of the 50 states of the U.S. require you to have home insurance.

As previously mentioned, your mortgage provider may require a homeowners insurance policy. In the event that your home is damaged by a natural disaster, for example, insurance safeguards not only you, but the mortgage company too. They need to protect their investment and the value of the home. The mortgagee clause, a provision added to an insurance policy, protects the mortgage lender from incurring a major loss in the event that loss or damage occurs to your property. It guarantees that the homeowners insurance company will owe the lender. 

Home insurance myth #4: Bundling coverage is always better

For many people, bundling home and auto insurance can be a great way to see reduced rates on both fronts, but this isn’t always the case. There will always be exceptions to what type of coverage will give you the best premiums, so you should always shop around on a case-by-case basis.

For example, bundling your home insurance with your auto insurance just a year or two before moving to a smaller home or selling your car could get you stuck with higher rates. Downsizing your home is challenging enough on its own, and you don’t need to be paying more than necessary.

It is generally a good idea to compare rates again after you move, sell a car, or otherwise change up anything related to your policies. Your existing plans or bundles may no longer be the best option, and you may want to try to save money where you can.

Home insurance myth #5: Damage caused by fallen trees is covered by my neighbor’s insurance

Suppose a tree falls onto your property from your neighbor’s yard during a storm or hurricane. Will you or your neighbor be responsible for submitting the claim?

It’s commonly mistaken that the neighbors insurance should be paying to cover the damage done to your property. However, your neighbor likely won’t be held liable in most states unless there was a clear warning of the danger of the tree falling down. Otherwise, it is simply an unfortunate accident.

Unfortunate accidents are exactly why you need to have a good home insurance policy. You never know what might happen.

Home insurance myth #6: The amount of homeowners insurance I need is based on the market value of my home

This statement is false. The amount of homeowners insurance you need is based amount it’d cost to rebuild your home in the event that it’s completely destroyed. This includes the construction costs and materials. Because your home value is based on other factors like the location, housing market trends, and nearby properties, it does not impact how much homeowners insurance you need.

Home insurance myth #7: Purchasing a policy isn’t worth it

When it comes to an unexpected event occurring that damages or destroys your home or your belongings, it’s easy to assume it won’t happen to you. Month after month of paying your homeowners insurance premium and not using it for anything can feel like you’re being ripped off. However, insurance can help you save hundreds of thousands of dollars if disaster strikes.

For example, if a wildfire or windstorm damages your home and your personal belongings, your policy can help pay to repair or rebuild your home, replace belongings, and help pay for temporary housing in the meantime. Or, if a visitor is injured on your property and decides to sue you, your insurance can help cover legal costs. However, it is important to note that any injuries to you or a family member on your own property are not covered by your homeowners insurance.

Owning a home has countless benefits, but it also comes with many unknowns and costly risks. Homeowners insurance is a great way to protect yourself financially. Be sure to compare home insurance rates and terms to find the best insurance plan for your needs.

The post 7 Home Insurance Myths Debunked appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Keeping track of the differences between a listing agent, selling agent, seller’s agent, and even buyer’s agent can be a bit challenging, so learning to quickly recognize what these terms refer to in real estate can help you move forward confidently with buying or selling your home. Below we’ve broken down what each of these terms means in real estate, the differences between them, and their expected responsibilities.

What is a listing agent?

A listing agent, also known as the seller’s agent, is a real estate agent who represents a home seller in a real estate transaction. A listing agent is responsible for assisting their client throughout the home selling process, which includes pricing the home, staging the interior and exterior, marketing the property, negotiating offers in the best interest of the seller, and so much more. 

What is a selling agent?

A selling agent, more commonly known as a buyer’s agent, represents the homebuyer find a house and guide them through the process of purchasing a home. However, there is a bit of a title transition that occurs and which can be confusing for any prospective homebuyer, especially if you’re buying a home for the first time. Before the contract between the homebuyer and seller is signed, an agent working with a potential homebuyer is technically called a “buyer’s agent.” However, once the house goes under contract, the agent is then referred to as the “selling agent,” not to be confused with the seller’s agent. This change is because the agent helped a buyer find a home, and therefore, also helped sell a property.

A selling agent will help search for properties that meet the buyer’s budget and desired characteristics, give house tours, submit and negotiate an offer on the buyer’s behalf, and ensure their client gets the best deal possible.

What’s the difference between a listing agent and a selling agent?

The main difference between a listing agent and a selling agent is who they represent – the listing agent represents the home seller, and the selling agent represents the homebuyer. There are also differences in the scope of services they provide and the role they play in the transaction. While some real estate agents may specialize in one side of the transaction, real estate licenses typically allow an agent or broker to represent a buyer or a seller as part of their practice.

What does a listing (seller’s) agent do?

A listing agent handles the sale of the house for the seller. They guide the seller through the process and are responsive to the seller’s questions. More specifically, they price and list the house, market the house to buyers, and steer the negotiations with the buyer’s agent. 

A good listing agent with an exclusive right to sell the home uses their experience and knowledge to make your home stand out among all the other homes that are currently for sale, strategically price your house to sell based on comps in your area and depending on what’s happening in your local housing market, and ultimately help you during negotiations to help you sell your home for the best possible price.

Responsibilities of a listing agent

The listing agreement

The selling process begins with the listing agreement, which is a written contract that gives the agent the exclusive right to sell the property on your behalf. In this agreement, the listing agent’s commission, obligations, and responsibilities are specified. A signed agreement gives the agent the sole authority to market and sell the house within a set time frame.

Pricing your house

Soon after the listing agreement is signed, the agent will research similar homes that sold within the past few months in the area and give you the results in a comparative market analsyis (CMA), or what’s also known as a “comp.” The CMA shows similar homes and what they sold for, if they are still on the market, or were taken off the market. The agent will also know how long a typical home takes to sell in the local market. This information helps the listing agent determine the fair market value for your home, and decide on the best (and most realistic) asking price to list your home.

Pricing a property is a delicate and tricky task, and arguably one of the most important steps in the process. Using an online calculator to find how much your home is worth can give you a reasonable estimate. However, online calculators are not a formal home appraisal. Always seek out the in-person expertise of a real estate agent or professional appraiser.

Prepping for the market

As part of an agent’s responsibilities of helping you decide on how to best prep your house to be on the market, they’ll also advise on which inspections and disclosure forms are required, if any. Another important aspect of preparing your home to sell is making any updates or repairs to the home so it’s more appealing to buyers. Improvements might include replacing the roof, painting, performing a thorough cleaning, or improving the landscaping. 

A listing agent should also be able to recommend contractors and service providers to assist with these repairs and improvements.

Marketing your house

Once the agent compares properties and settles on the appropriate pricing strategy for your home, they’ll find effective ways to market the home to potential buyers, such as professional photos and a 3D walkthrough. 

Your listing agent also writes the listing description, creates the sales brochures, places the “For Sale” sign in front of the house, and markets the property through both online and offline channels. They will either give you tips on staging your home yourself or recommend a professional home stager. 

Negotiating offers

The listing agent presents all offers to the seller and helps with considering multiple offer scenarios and navigate bidding wars. Once the seller decides to accept an offer, the listing agent negotiates transaction details with the buyer’s agent. They also request and organize documentation from the buyer, and make sure that all terms of the purchase contract are met. 

A good listing agent proactively communicates with their client, quickly responds to any questions, and keeps any negotiations moving forward. An important, although unofficial, role of the listing agent is to keep everything as low-stress as possible.

Additionally, the listing agent advises the seller on various contingencies that can be listed out in an offer and contract, such as an inspection contingency or a home sale contingency.

Closing the sale

Although the closing is typically handled by a title or escrow company, the listing agent might recommend a specific company they like to work with because of their record for a quick closing, for example. The listing agent keeps the client updated on the closing timeline and makes sure the entire process runs as smoothly as possible.

What does a selling (buyer’s) agent do?

A buyer’s agent is a licensed real estate agent who guides the buyer through the entire homebuying process. They locate properties to present to the buyer, answer questions, and offer advice. This agent typically works for a different brokerage than the listing agent. 

Responsibilities of a selling agent

Share homes that meet their client’s criteria

Since homebuyers typically look for a home that works within their budget and has specific characteristics, like the home needs to have three bedrooms, the buyer’s agent will provide lists of homes that meet your requirements. Multiple listing services (MLS) are the primary source of home listings information because they contain real-time information on virtually every home listed for sale in a given area, and is the primary source where agents will pull data on houses for sale in the area you’re looking to move. 

Buyer’s agents typically know the local market very well and have a sense of what homes will actually sell for. So when you decide on a home you’d like to make an offer on, the buyer’s agent will help you decide on how much you should offer and which contingencies you might want to include. 

Tour properties with their client

Selling agents also present the house to their clients, which involves highlighting the home’s strongest selling points, pointing out any red flags, and addressing any questions or concerns the buyer may have.

Submit offers and assist with negotiations

Once the buyer narrows down the properties they’re interested in, the buyer’s agent advises them on pricing and negotiation. They’ll also help their clients structure and prepare offers. Then they negotiate with the listing agent to help get their buyer the best possible price and overall deal. 

They should do all of this as the buyer’s advocate, looking out for the buyer’s best interests.

Recommend other professionals

Throughout the homebuying process, buyers may be required to work with a mortgage lender, title companies, home inspectors, contractors, and more. A selling agent will be able to recommend reputable local experts they’ve used in the past and trust. 

How are listing agents and selling agents paid?

The listing agent and selling agent are paid a commission, which is around 5%–6% of the home’s sale price, and evenly split between the buyer’s agent and seller’s agent. This, however, can vary depending on agent and location. The home seller typically pays the real estate commission for both the buyer’s agent and the seller’s agent. 

When the listing agent is also the selling agent (dual agency)

Dual agency occurs when one agent represents both the buyer and the seller in the same real estate transaction. The main ethical dilemma with dual agency is that the agent has to remain completely neutral to both the buyer and the seller and cannot put the interests of one party over another. This means you lose one of the biggest perks of working with a real estate agent – their responsibility to get you the best deal possible.  

In every state, a dual agent must disclose to the buyer and seller that they’ll be representing both sides of the transaction and get approval beforehand. A dual agent cannot represent both clients without them knowing. Each state has its own laws around dual agency, so it’s important to look into your state’s regulations before signing any dual agency agreements.

The post Listing Agent, Selling Agent, Seller’s Agent: What’s the Difference? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

You found the house, and you and the seller have agreed on a sale price. Congratulations. Now it’s full steam ahead to closing, right? Not so fast. Some very important steps to the home buying process are just ahead, and one of those is the home appraisal. Read on to learn exactly what home appraisers look for in determining the value of a house.

What are home appraisals used for?

The purpose of the appraisal is to provide a fair and unbiased market value of the home. It’s an essential part of your loan package, and lenders won’t provide financing for the property without one. The house is collateral for your loan, so unless you’re paying cash for the property, you’ll need an appraisal.

The home appraisal provides the lender, and you, with verification that the agreed-upon sale price isn’t too high. If the appraised value is higher than your agreed-upon sale price, that’s okay because that just means the home is worth more than what you’re paying for it – instant equity.. It’s another story if the appraised value comes in lower than the sale price, and we’ll cover that a little later.   

What home appraisers look for inside the house

Home appraisers provide a thorough evaluation of all aspects of a property they are appraising. And while there are many components to the home appraisal process, the outside of the house and what appraisers look for in the interior of the house, are big ones.

When looking at the interior of your prospective home, the appraiser will consider the overall design and condition of the home, making sure there are no health or safety code violations or any signs of pests like termites or rodents. They’ll also be making notes of any deferred maintenance or water damage they find. Appraisers sometimes place repair requirements on the appraisal depending on what they find. If there are any appraisal requirements, these are required to be completed before closing on the house.

The appraiser will also be looking to see if the interior of the property has a dated appearance since this will have an impact on the home’s value. A dated appearance can include outdated light fixtures, faucets, and kitchen appliances.

They will look to see if there are fireplaces in the home and whether any improvements or upgrades have been made in the house and their overall quality. Things like insulated windows, central A/C, and a security system will be noted as well.

Do Appraisers Look in Closets?

Appraisers do look in closets to determine the total square footage of the property. This doesn’t mean every single inch of your house has to be in tip-top shape for the appraisal, but the interior of the home should be clean and free of clutter, and this includes closets, under sinks, and in the attic. This will make the appraiser’s job that much easier.  

What home appraisers look for outside the house

On the exterior of the house, careful consideration will be given to the roof and foundation. In evaluating the roof, the appraiser will be looking for any missing shingles or other visible defects. Damage to the roof can allow water to leak into the interior and cause problems like the infestation of bugs or small animals.

When assessing the foundation, an appraiser will look for vertical or horizontal cracks, crumbling of the foundation, or any signs of water leakage. While outside, the appraiser will evaluate the chimney to see if it is cracked or shifted from its original placement. 

Important aspects the appraiser will review when determining property value include the porch, deck, siding, garage, as well as the size of the lot and location of your property.

What else do appraisers look for when assessing a home’s value?

Other things appraisers look for when assessing a home’s value are “luxury” items. Examples are an outdoor or indoor swimming pool, gourmet kitchen with warming drawers, theatre rooms, outdoor kitchens, and spa bathrooms. 

What home appraisers do not look for

Appraisers don’t look at your choice of home décor or items like window curtains and blinds that can be taken down and removed from the home, as they are not considered real property.

They will also overlook any “lived-in look” your home may have. They are trained to look past the evidence that a person, or family, resides in the house. None of that will factor into the value ascribed to the house when it is being appraised.  

However, a “lived-in look” doesn’t mean kitchen cabinets that are missing doorknobs or bathtubs whose faucets continually drip water. Those are examples of deferred maintenance, and they will be considered when the appraiser is formulating the value of the property.

How does the appraiser determine the value of a house?    

Once the appraiser has made a physical inspection of the property, they’ll gather information on “comps,” or comparable home sales located as close to the subject property as possible. 

For example, the appraiser would not use three or four single-story ranch-style homes in Charlotte, NC, as comps for a two-story property in Denver, CO. Instead, they’ll try to locate other ranch-style homes to use as a comparison to the house being appraised.

Not only do the comps need to be similar in style to the house being appraised, but they also must have sold recently, typically within the past six months, and be located close to the subject property. Using real estate comps that are similar to your property and which have sold recently in your area helps the appraiser approximate the fair market value of your home. 

However, there are times when appraisers are not always able to find three or four comparable homes that are exactly like the house being appraised. When that happens, the appraiser will make adjustments for differences in the features and characteristics between the subject property and the comps chosen to determine a home’s value. Things like where the house is located, its overall condition, how old it is, and what amenities it has are all things appraisers consider when comparing the property to the comps.  

For example, let’s say your home has three bedrooms and two full baths, but one of the comps has four bedrooms and two full baths. Although this home could still be used as a “comparable” property, the appraiser would need to make an adjustment due to the comp having an extra bedroom.  

The appraiser then combines all of what they have learned about the subject property from their physical evaluation with what they learn about the comps to arrive at the fair market value, or appraised value, of the property.

How to get your home ready for an appraisal – checklist

There are many things you can do to get your home ready for a visit from the appraiser. When you’re on the selling side of the appraisal, a checklist comes in handy to make sure you don’t forget anything.

1. Make a list of any improvements you’ve made to your home and give it to the appraiser. Maybe you’ve added a bathroom or finished off the basement. Put those on the list. Have you installed new siding or replaced the roof? Those go on the list too. There are certain home improvements that can add value to a home, and you want the appraiser to know about all of them.
2. Have your real estate agent make a list of suitable comps for your home to give to the appraiser. Your realtor sees many houses, and they have probably seen properties in your area that would make good comps. This can be helpful for the appraiser when they go to write up the report.
3. Make sure all areas of the house are easily accessible. This includes the crawl space, basement, and attic, as well as all rooms and closets.
4. Deep clean. You want to put your best foot forward ahead of an appraiser’s visit, so be sure to clear away any clutter and clean the hard-to-reach spots to showcase your home in the best light. When beginning to clean any room, try decluttering first. Go from room to room while sorting items into three stacks: one to give away, one to keep, and a third to throw away. Place the items you decide to keep where they belong, so they’re not adding to the clutter. Remember, having your home in great shape can go a long way in ensuring the appraiser walks away with a positive impression.
5. Tidy up the outside, front, and back of your house. You don’t need to have your Master Gardener certificate to get your yard looking good. Trimming shrubs and bushes, cleaning up leaf litter, and adding color to the front porch area with plantings are especially helpful for curb appeal. Other budget-friendly curb appeal ideas you might incorporate into your prep work might be to go over the front door with a fresh coat of paint or add outdoor lighting on the patio.
6. Make any minor repairs you can. Remember that loose kitchen cabinet doorknob? Or the leaky faucet in the bathroom? Grab your screwdriver and wrench and fix those items. Just a little bit of elbow grease on your part could impact the appraised value of the property.  

What happens if your house gets a low appraisal?

Your lender just called, and the appraisal is in. The house appraised $1,000 higher than the sale price you agreed to. That’s great news, and chances are the seller is fine with that. But what happens if the appraisal comes in lower than the agreed-to sale price? There are several things that can happen in this case.  

Let’s say you and the seller agreed to a sale price of $250,000, but the appraisal comes in at $230,000, that’s a $20,000 difference and your lender won’t be the one making up that difference.

One way to protect yourself against this is to write an appraisal contingency clause into the sales contract when you write up the initial offer. This clause gives the buyer the right to walk away from the deal and have their earnest money returned if the house appraisal comes in low.

If you didn’t have an appraisal contingency clause attached to the sales contract, there are still ways to make the deal work. One way would be for you to pay the $20,000 difference in cash. Another way would be for you to ask the seller to lower the sale price by $20,000. You could also offer to split the difference between the two of you in whatever way is agreeable to both parties.

Yet another option would be to challenge the appraisal and try to get the appraiser to modify their opinion about the market value of the home. You can also ask to be let out of the contract, but without an appraisal contingency clause, you may forfeit your earnest money if you do.  

Key takeaways

There are many elements appraisers consider when determining the value of a house, and understanding the home appraisal process is an important aspect of a successful home sale. There are also many items that can be done to prepare for the appraisal, whether you’re buying or selling, that can make the process go as smoothly as possible. However, if you happen to hit a snag along the way, your real estate agent can answer any questions you have and help you successfully maneuver through the home buying or selling process.

The post What Do Home Appraisers Look for In a House to Determine Its Value? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

While it may not be for everyone, it’s possible to buy a house without a realtor. Whether you’re looking into buying an investment property or are a first-time homebuyer, here are questions to ask when buying a house without a realtor as well as what to look out for when navigating the housing market on your own.

What to know when buying a house without a real estate agent

Let’s start by looking at some frequently asked questions about buying without an agent. 

Can one opt to buy a house without a realtor?

Yes, but keep in mind that every home purchase is unique, and you’ll have a few added responsibilities when taking the home buying process on solo. 

If you work without an agent, can you only buy homes that are for-sale-by-owner (FSBO)?

No. You can make an offer on any home just as you would if an agent were representing you.

If you buy without a real estate agent, will the seller’s agent keep the extra commission?

If you’re not careful, this can happen. Many listing agents have contracts with their clients with variable commissions. If the buyer doesn’t have an agent, the listing agent automatically gets the “leftover” commission that would typically go to the buyer’s agent.

Even if you’re buying a house without a real estate agent, do you still need to hire an attorney?

Yes. You’re dealing with multiple legal contracts and processes when you buy a house, and taking this on without a lawyer can be risky. A lawyer’s services will generally cost far less than the commission collected by a buyer’s agent. (Keep in mind that a real estate attorney is required in some states even when you work with a real estate agent.)

Will sellers take you seriously if you don’t use an agent?

Every seller is different. Some might be happy to work with you, and others may not be interested. However, if you’ve done your homework, can offer proof of finances, and have all your paperwork in order (such as a pre-approval), you’ll raise your chances of a good reception from a home seller.

You don’t pay for your agent anyway; the seller does. Does buying a house without a realtor save you any money?

There’s a debate as to whose money pays the agents, but for most people, the important part is this: it’s the seller who determines what percent of a commission is paid to their agent and the buyer’s agent. If you can negotiate with the seller to lower the price of the home in exchange for them having to pay nothing to a buyer’s agent, then that’s money you can save. Learn more about real estate agent commission.

Do you need an agent to be present for inspections and appraisals?

Usually, a licensed agent is required to be present for the home inspections or appraisal process, and typically, this is the buyer’s agent. You may be able to get the listing agent to agree to be there for these tasks in the interest of closing the deal. Again, everyone is different; some listing agents will be happy to go the extra mile to close the deal, while others will insist on at least a partial cut of what would have been paid to your real estate agent. 

Should you buy a house without a real estate agent?

If you choose to go down the route of buying a house without a realtor, you’ll need to put in a little extra work to prepare yourself for the home buying process. Real estate agents have the industry knowledge and experience to navigate a home sale, so they can offer insights on what you should expect. They’re also assets when touring homes, negotiating with the seller, making an offer, and understanding the local market. 

Another important consideration is your level of comfort when dealing with the paperwork involved in a home sale. Working with a real estate agent can give you peace of mind knowing that there’s a pro on your side who understands all the contingencies, legalities, and other fine-print that you may have missed.  

However, if you’re comfortable undertaking the process yourself, here’s what you need to do when buying a house without a realtor. 

How to buy a house without a realtor 

1. Search for the right home for you

Start as you would with any home purchase — by scoping out your local housing market and narrowing down the list of neighborhoods to find homes for sale that fit your criteria. From there, you can begin budgeting for how much you can afford and find homes that fit within your price range.

2. Find a real estate attorney

Buying a home is an investment, so before you get too far down the road, it’s important to find and hire a good real estate attorney to work with. An experienced real estate attorney will be a resource as soon as you start dealing with the paperwork and legalities of buying a home without a realtor. Plus, they’ll help you navigate documents, resolve disputes, and make informed choices, so you can feel assured that your transaction is airtight.

3. View homes for sale

Once you find a home online, you should see it in person either by attending an open house or scheduling a tour to view the listing. You should also be clear with the listing agent that you’re buying a house without a real estate agent. If the listing agent asks you to sign any forms, have them reviewed by your attorney first.

4. Get pre-approved for a home loan

Before you make your offer, be sure to get pre-approved for a mortgage with a lender. A pre-approval letter specifies the amount you can spend on a house and gives you an estimate on how large of a mortgage loan you can borrow and the interest rate you can expect to pay. It also reassures the seller that you can back up your offer, which is especially important when buying a house without a realtor as it confirms that you’re a serious and qualified buyer.

5. Review the seller disclosure 

Before you dive headfirst into making an offer, your next move is to find out everything you can about the home. Ask the seller for the seller’s disclosure, which lists any known issues like water damage, infestations, asbestos, and other information such as easements or repairs. You can also prepare some key questions to ask when buying a house to ensure that you’re leaving no stone unturned. 

6. Make and negotiate an offer

Once you find the right home, you’ll want to make an offer. However, you’ll want to do your due diligence and review comps in your area to make sure you’re paying a fair price. You’ll also want an eye on the local housing market to determine if you’re buying in a buyer’s or seller’s market. These pieces of information are key guides when it comes to pricing your offer. 

The listing agent may also expect to collect the share of the commission that would typically go to your agent. Make sure your offer spells out that the seller will not need to pay out the buyer’s agent’s share of the commission. This should be agreed to in writing and reviewed by your attorney. Also, be prepared to renegotiate and ensure that your offer includes all the contingencies that will protect your earnest money if the deal falls through during closing.

7. Deal with inspections and appraisals

After making an offer, you’ll need to deal with two essential tasks – the home inspection and home appraisal. You’ll need an agent present during both of these tasks; usually, the buyer’s agent handles this. Since you don’t have a buyer’s agent, you’ll need to get the listing agent to pick up the extra work regarding the home inspector and appraisal. Some may be happy to go the extra mile to close the deal, while others may demand compensation or a flat fee.

8. Close the deal

Closing on the home involves plenty of paperwork, and this is where your attorney really earns that fee. Make sure they’ve reviewed all contracts and forms. Once you’re done, the ink dries, and the seller receives the purchase funds, the home is yours.

Note: The information on this page is not intended to be legal advice. Before making a home purchase without an agent, you should consult a licensed and qualified real estate attorney.

The post How to Buy a Home Without a Real Estate Agent appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

There are numerous reasons why you may be thinking about selling your home, whether it’s because you’re moving to a new city, downsizing to a condo, or wanting to tap into your home’s equity. But if you’re looking to sell your property quickly, you may want to consider selling your house for cash.

The appeal is there – you can sell your home fast for cash and move into your next home sometimes in a matter of just a couple weeks. But is selling your house for cash any different than the typical home selling process? And will someone actually buy your home with a cash offer? We’ve got the answers to help you decide whether to sell your house for cash or stick with a traditional offer. 

What is a cash offer?

A cash offer is when a potential buyer bids with all-cash, meaning there’s no mortgage or other financing involving a mortgage lender. These offers can be more appealing to sellers since there isn’t a risk of a buyer’s mortgage loan falling through. All-cash offers also tend to have quicker closing dates since there’s no waiting for the mortgage underwriting process to finish. 

The number of cash offers you may receive can depend on the local housing market, your home’s condition, or if you seek out a cash offer online. Keep in mind that depending on the type of homebuyer bidding with cash, their offer may come in lower than a buyer with a mortgage. However, just because the offer may be less than other bids, there can be plenty of reasons why you want to sell your house for cash.

Who buys houses for cash?

There are several types of homebuyers who may bid with a cash offer on your home. Here are some of the typical cash home buyers you’ll see:

Buyers looking to stand out

Potential homebuyers may bid with a cash offer to stand out amongst the competition. This can be more common in a seller’s market, where there are more buyers than homes available, and bidding wars are more likely.

Cash for homes companies

Often you’ll see signs placed around neighborhoods from companies advertising that they’ll buy your house for cash. Typically, companies that buy houses target homeowners that need to sell their home quickly for financial reasons. If you decide to sell your house to a company that buys homes for cash, note that you may only receive 50-70% of what your home is actually worth. 

House flippers

If your home is more of a fixer-upper, you may receive a cash offer from house flippers. They’ll buy your home as-is, fix it up, and typically re-sell it for a larger profit. Like cash for homes companies, house flippers may offer less than what your home is worth. Many house flippers follow the 70% rule, meaning that they may not offer you more than 70% of your home’s after-repair value (ARV).

iBuyers

Short for instant buyer, an iBuyer is a real estate company that buys your home directly. If you plan to sell your home to an iBuyer, you’ll likely need to request an offer directly from the company. Once you’ve received and accepted their offer, you can typically close between 10-90 days. An iBuyer’s cash offer on your house is generally based on a home valuation tool. These tools estimate your home’s value based on the information you provide and recently sold properties in the area. It is important to note that iBuyers often charge convenience fees for selling your home fast, so your final payout may be less than the initial offer amount.

Investors

Real estate investors looking to turn your house into an investment or rental property may bid with cash. However, if you sell your house for cash to a foreign investor, you may not be able to close that quickly. For a variety of reasons, it may take extra time for a non-US citizen to buy a house and complete the closing process. 

What reasons should you consider before selling your house for cash?

For any home seller, the reasons you’re listing your home for sale depend on your needs. And choosing the right way to sell is critical to have the easiest home sale possible. Here are a few of the reasons why selling your home for cash may be the best option. 

It’s the best offer: Whether that’s because it’s the right price, a quick closing, or certain contingencies waived, a cash offer may simply be the best one.

You have an investment or rental property: If you’re struggling to find a new tenant to occupy your investment or rental property and need to sell your home fast.

You have inherited a home: If you’ve recently inherited a home from a loved one and you don’t have the resources to maintain the home or turn it into a rental property.

You need to access your home’s equity now: Depending on where you are in your life, it may be necessary to access your home’s equity fast. 

You’re moving and need money for your downpayment: If you’re buying a new home or relocating quickly, you may need to access your current home’s equity to make a downpayment. Having this available cash can make it easier to buy your next place rather than taking out a second mortgage or bridge loan for a downpayment. 

What are the benefits of accepting a cash offer on a house?

There are a few differences to consider when you sell your house for cash, compared to a traditional sale. Some of these differences may help you decide if selling your home to a cash buyer is the right option. 

Fewer contingencies: There are likely fewer contingencies with a cash offer. Specifically, buyers won’t need a mortgage contingency, but they may still ask for other home buying contingencies.

Less risk: When you sell your house to a cash buyer, there’s less risk of a buyer’s financing falling through.

No appraisals: Home appraisals are almost always needed before approving a mortgage loan. Since there is no mortgage with a cash offer on a house, an appraisal is not always requested.

Shorter closing process: Since there isn’t a mortgage application and underwriting process to wait for, you may be able to close in as little as two weeks. You still need the buyer’s proof of funds and time to complete the closing process so this timeline can vary.

Are there drawbacks to accepting a cash offer on a house?

Depending on the cash offer’s terms and what you’re looking to gain from selling your home, there may be drawbacks. Sometimes a cash offer may be lower than what you expect, whether that’s from an iBuyer, investor, or traditional homebuyer. But if you’re looking for a quick sale, this may not be too much of a negative. As with any home sale, there’s a risk of fraud. If a buyer or company is offering cash, make sure to do your research to verify the buyer is real or that the company exists. 

Another point to take into consideration is that the cash offer isn’t finalized until you’ve signed the contract. Beware that some buyers may ask for additional money for repairs or request that you make updates to the home before they buy. However, this can also happen with a traditional offer, where a potential buyer may ask for repairs after a home inspection is complete. 

Key takeaways: Should I sell my house for cash?

When the time comes to sell your home, consider both your current situation and what you hope to gain from selling your home for cash. If you sell your home for cash you can expect less of a risk that the buyer’s financing falls through, a quicker closing process, and you may avoid some contingencies and an appraisal. Keep in mind that a cash offer could be less than you expect, but it also might be what’s best for you.

The post Should You Sell Your House for Cash? What to Know About Cash Offers appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

When the time comes to sell your home, there are several decisions you’ll be faced with – including which type of transaction works best for you. Should you hire a licensed real estate agent, sell your home without an agent, or work with an iBuyer? Chances are you’ve considered the first two options. However, you may never have thought about an iBuyer before and probably have a variety of questions regarding what iBuyers are and how they work. Don’t worry, we’ve got the answers for you.

Before you list your home for sale, you should know all your options. Learn how selling to an iBuyer differs from the traditional home sale process and when you should consider selling your home for a direct cash offer.

What is an iBuyer?

An iBuyer (short for instant buyer) is a real estate company that purchases a house from a homeowner in a quick cash transaction, makes any necessary improvements to the home, and then resells it. iBuyers offer quick and flexible closing dates since they purchase your home with an all-cash offer.

With iBuyers, the home selling process is typically faster and much easier. iBuyers take away the hassle of a traditional sale, such as finding the right listing agent, preparing your home for sale, hosting open houses, and finally choosing the right offer. Additionally, there’s more certainty when you sell your house for cash, as you don’t have to worry about a buyer’s financing falling through. 

Note that iBuyers may not be available in every market. It’s best to research your local housing market before deciding to sell your home to an iBuyer.

How is selling your home to an iBuyer different from a traditional sale?

When you sell your home to an iBuyer, many of the traditional aspects of selling your home are skipped. For example, you don’t need to stress about preparing your home for sale. You’ll be able to forgo tasks like staging your home, upgrading your curb appeal, or scheduling any maintenance on your home. Additionally, you don’t have to find a listing agent to sell your home. 

In a traditional sale, you’ll have to put your home on the market before receiving any offers. To receive an offer from an iBuyer, it may be as simple as requesting an offer from their site by providing required photos and information about your home. Your offer is typically based on your home’s value and the information you provide. Many iBuyers use this information in addition to a home valuation tool to help generate your offer. Depending on the company, you may receive your offer in a matter of days. 

One of the benefits of selling your home to an iBuyer is the ability to close at your convenience. You may be able to close as quickly as 10 days, or as long as 90 days. Unlike a traditional sale, this allows you to close when it works best for you. For those buying and selling at the same time, this can be especially helpful if you’re trying to avoid a second mortgage or gap financing.

What are the costs of selling a home to an iBuyer?

If you’re considering selling your home to an iBuyer it’s important to know how much it can cost compared to a traditional home sale. When you sell your home on the market, the seller typically pays both the buyer’s and seller’s agents’ commission. Commission costs can vary from 4.5-7% of the final sale price of your home. You may also be expected to pay closing costs which can range from 2-5% of the home’s sale price. However, you may spend more to sell your home if you make pre-listing repairs and upgrades, hire a stager, or professional cleaning service. 

On the other hand, selling to an iBuyer can cost anywhere from 6-14% of the final sale price. However, there are several reasons for these costs. Many iBuyers will offer you an initial price for your home, then deduct fees and closing costs. Depending on the iBuyer you work with, these fees may be selling fees, convenience fees, and repair fees and can range from 5-13%. These fees can fluctuate based on housing market conditions or how many repairs are needed on your home. 

When you sell your home to an iBuyer you’ll also be expected to pay closing costs just as you would in a traditional home sale as you prepare for closing, which covers title, escrow, and taxes. These costs are typically 1-2% of the final sale price.

Why sell your home to an iBuyer?

There are several reasons why you may want to sell your home fast using an iBuyer rather than sell your home in a traditional sale. Let’s take a look at some of the common reasons why selling to an iBuyer may be a good option.

You are relocating: If you’re relocating to a new city and need to sell your current home quickly, selling to an iBuyer may be a good option. You can sell your home fast without the hassle of going through the home selling process while you’re in the middle of a move or living in another state. 

You have inherited a home: If you’ve recently inherited a home, it’s possible you don’t have the resources to maintain the home or don’t want to turn it into a rental property. If you’re planning to sell an inherited house, selling it quickly to an iBuyer might be the right option.

You have an investment or rental property: If you’re struggling to find a new tenant to occupy your investment or rental property, a quick cash transaction might be the solution you’re looking for.

You need to access your home’s equity ASAP: Depending on your financial situation, it may be necessary to access your home’s equity fast. If this sounds like you, then accepting an all-cash offer from an iBuying company might be the right choice. 

You need money for a downpayment: If you’re moving, it’s possible you need to tap into your current home’s equity to make a downpayment on a new home. In this scenario, selling your home to iBuyers might be the best way to make a stronger offer on your next home. 

Keep in mind that these are just a few of the reasons why selling your home to an iBuyer may be the best route to take. You should always consider your personal circumstances, and seek the advice of a real estate agent or financial professional if you’re not sure.

Are there cons of selling your home to an iBuyer?

When you’re deciding on the best way to sell your home, there can be some reasons why selling to an iBuyer may not be the right fit.

An increase in cost: As previously mentioned, the costs of selling to an iBuyer can sometimes be more than what you’d pay in a traditional home sale. If you’ve recently updated your home or aren’t in a rush to sell, listing your home on the MLS may be a better option. 

iBuyers are not in every market: While selling to an iBuyer may be the best option for you, it’s possible that they may not operate in your area. Not all iBuying companies buy homes in every market, so it’s always important to check for iBuyers in your area before settling on the idea. 

Miss out on a potential bidding war: You lose the ability to incite a bidding war on your home if you sell your home to an iBuyer. This may be a con, especially in a seller’s market where bidding wars are more common and there are more buyers than homes for sale. If you’re not in a rush and want to sell your home for as much as possible, working with an experienced real estate agent may be a better option.

Your home may not be eligible: Depending on the iBuying company you work with, they may have different qualifications your home must meet in order to receive an offer. These eligibility requirements may be a minimum home value or depend on the current condition of your home. 

Recent iBuying behavior 

Many iBuying companies paused buying homes in 2020 during the Coronavirus pandemic that shut down much of the world’s economy, but have since begun to purchase homes again. According to a recent Redfin study, iBuyer home purchases have increased 20.6% in the first quarter of 2021. Raleigh, NC, and Charlotte, NC were the top markets for iBuyers purchasing homes during that period. However, if you’re thinking about selling your home to an iBuyer soon, just keep in mind that iBuyers do not serve every market.

Key takeaways about selling your home to an iBuyer

Selling your home to an iBuyer may be the right fit if you need to sell your home quickly, you require access to your home’s equity, or you just don’t have the time to prepare your home for sale. Whether you choose to sell your home to iBuyers or in a traditional sale, it’s important to weigh all the pros and cons and your own personal situation to make your home selling process a breeze.

The post What is an iBuyer? What to Know Before You Sell Your Home to One appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

For the podcast enthusiast, having a dedicated, comfortable, and quiet space to produce audio and video clips is essential to creating a successful podcast. From renovating a space to include noise buffering material to selecting the right equipment to achieve the best sound quality, there is a lot that goes into creating a podcast room that you may not have thought of.

To help you get started, we reached out to podcasting experts from Vancouver, BC to New York, NY to give us their best tips. Check out what they had to say on how to start the perfect podcast room in your own home.

1) Think about surrounding noise 

If you’re creating a podcast room, any little outside noise is your enemy. Aim for it to be as far away from the main living areas as possible, add acoustic panels to the walls, get rid of that noisy fan, lay down carpet or rugs to avoid a creaky floorboard, and pray no sirens drive by. For many without a dedicated podcast room, recording in an interior, well-insulated room like a closet works well. – Kevin Goldberg, Founder, Discover Pods

2) Find a smaller space with padding 

Choose a quiet, preferably carpeted room or nook in your home to set up your podcast room. Place sound foam on the walls nearest to you, or cover your walls with curtains and drapes to prevent reverb or echo. And always wear headphones and speak closely and directly into your microphone to get the best audio recording. – Mike Moody Garcia of Permanent RCRD Studios

3) Avoid hard and bare surfaces 

When creating a podcast room in your house, choose an area that is somewhat isolated and as far as possible away from the lively areas of your house. Avoid using a room full of hard and bare surfaces to minimize reverb and echo. Instead, select a space with soft and furnished surfaces, and invest in acoustic foam tiles if need be. –  MPR Studio

4) Fill the room with furniture to up the sound quality 

Don’t opt for a cavernous, open loft-type room. Instead, fill the room with items that make you feel comfortable, and dampen the sound reverberation. A couch in the room does wonders for sound quality, as does a nice throw rug if you have tile or hardwood floors. But above all make sure it’s a space you can close the door and have quiet for your episode recordings.  – Castos

5) Leave space to stand 

Try setting up a space where you can stand while you record. Without even trying, you’ll have a fuller sound and seem more energetic to your listening audience. When you stand, it opens up your diaphragm and you’ll also feel more ready. I sat down for most of the earlier episodes of my show, and without even telling my audience I started to stand, I heard a lot of positive feedback about a change in my energy levels within my episodes. – Smart Passive Income

6) Don’t overlook electric outlets

When creating a podcast room, make sure to include ample outlets and LAN sockets on every wall. You never know how your studio setup will change over time and the last thing you want are wires everywhere. – Raz from Audioburst 

7) Make wise tech choices

You could split your resources decking out your new podcast room with all the bells and whistles, but you’ll be in a much better position if you simply invest in a great mic and quality pair of headphones. These are key tools guaranteeing a great recording each and every time. – We Edit Podcasts

8) Design your podcast room for comfort

The most important thing about designing your own podcast room is comfort. You’re going to be spending a lot of time recording, editing, and promoting your show from here so focus on a setup that puts you at the center. Choosing a quality boom arm, for example, will ensure that you can create a multi-purpose space for recording and working. As a bonus, the more natural light, the better. – Mark Asquith, CEO, Captivate.fm 

9) Create a podcast room for video as well

Just because the end product of a podcast is an audio experience doesn’t mean that your space shouldn’t be video ready. Your podcast will benefit from all kinds of promotional visual marketing, so make sure that you set a scene – at seated eye level – that would appeal to you and your particular podcast audience: add books that fire up your brain waves, colors that pop and keep you and your guests’ energy up, and enough space to host a group. – Radio Kismet 

10) Build a cutting room in the garage 

We needed a room that would be quiet so that we could record podcasts, audiobooks, or audio feeds which require multiple hours in the booth. We decided to convert half the garage into a free-standing cutting room. The build took about two weeks to complete and has been functioning beautifully for eleven years. Don’t skimp on the materials used to create the walls, flooring, and ceiling, because you may start out doing only podcasts, but you never know where a well-designed cutting room may take you. – The Block House

The post Creating a Podcast Room? 10 Expert Tips to Help You Get Started appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

If you’re thinking about selling your house, you’ll want to know how much it’s going to cost you to do so. The average cost of selling a home in the US is approximately 10 – 15 percent of your home’s sale price. This includes getting the house ready to list, the cost to hire movers, real estate agent commission and fees, and the cost to address any necessary repairs. 

As an example, at 15 percent, the cost to sell a $250,000 house could be as much as $37,500. Of course, every situation is unique, and your costs will vary. This guide gives you an overview of how much it costs to sell a house so you can be prepared and make a plan for buying your next home.

How much can I sell my house for? 

Before you can know how much it will cost you to sell your home, you need to find out how much your home is worth. The housing market can vary day-to-day due to local factors such as supply and demand in your area and larger macro-economic factors such as how the U.S. economy is doing. However, while this is true, you can also only sell your house for what someone else is willing to pay for it. 

To quickly get an idea of what you can get for your home, we recommend obtaining a free online home-value estimate. Once you get a sense of what your home is worth, the best way to determine what someone might be willing to pay for your home is to see what others have been willing to pay for homes in your area that are comparable to yours, known as real estate comps. This can be determined by having a comparative market analysis (CMA) completed on your home. 

A CMA is an extremely helpful tool when selling your home. They are prepared (at no charge to you) by your real estate agent. Your realtor uses the MLS to obtain information on three or four homes currently on the market or those that have recently sold in your neighborhood. Factors they look at when making the comparison include:

• Where each of the properties is located
• How many square feet each house has
• How old the properties are
• The number of bedrooms each has
• The number of bathrooms each home has
• If there are any unique amenities on the property, like a pool
• If there have been any additions or upgrades 
• What condition the interior is in (carpets, wood floors, walls)

Once your agent has all of this information, they can see how your house compares to the other homes to give them a good idea of what your house might sell for. 

Cost of preparing your home to sell 

The cost of preparing your home to sell will vary depending on multiple factors. However, there are several items you may want to spend money on as you prepare to sell your home. 

Home Inspection

One of the first items is a home inspection. Specifically, this is considered a presale or pre-listing home inspection since you, as the seller, are having the inspection performed. The presale inspection will alert you to any potential issues with your house that could cause buyers to walk away. Though not mandatory, the presale inspection provides insight into what might need to be repaired and what may hinder a sale or cause it to fall through altogether. The average home inspection cost runs anywhere between $200 – $500, depending on how big your house is, how old it is, and other factors. 

Keep in mind, if you are in a seller’s market, you may be able to sell your home with few, if any, repairs being made. On the other hand, if you find yourself in a buyer’s market, some of the repairs may need to be completed, or you may need to lower your sale price to offset the cost of the repairs. 

Home repairs

If you opt for a pre-listing inspection, you’ll be able to work on repairing some of the issues listed in the home inspector’s report before listing your house. You’ll want to make sure the roof, electrical systems, plumbing, foundation, drainage, and windows are all in optimal condition before selling. If neglected, these are the types of things that can reveal themselves and may turn off potential buyers.

When it comes to other cosmetic upgrades or home improvements – in some seller’s markets you can easily sell a home in lived-in condition. But in normal markets or a buyer’s market, repairs and upgrades can make or break a deal. Before making any major changes to your home, talk to your real estate agent. They can advise you on whether or not those changes will pay off when selling.

Enhancing curb appeal 

When you’re selling your house, you want to find ways to make it stand out, and enhancing your curb appeal can be a quick and cost-effective way to do so. You don’t necessarily have to paint the exterior of your house to lure potential homebuyers. Simple updates like trimming your hedges and a freshly mowed lawn can go a long way to enhancing the look of your house.  Don’t forget to stage your front porch and back patio too. Adding planters with colorful pots and pressure washing the deck will really make the outside more attractive and can possibly increase the value of your home. 

Decluttering and cleaning 

Before listing your home, you’ll want to give it a thorough decluttering and cleaning. Of course, you can use your own elbow grease (which will cost you time and a few dollars in cleaning supplies), or you can hire a company to do a one-time deep clean of your home.

For $150 – $250 (on average for a 2,000 square foot home), you can hire a professional cleaning service to make your home shine and free up some valuable time for you to focus on other tasks to get your home ready to sell.

Staging

There are several benefits to staging your home. Two of the most important are the potential increase in the sale price and the shortened time between listing and selling that a staged home typically provides. 

Staging can be done by either hiring a professional or doing it yourself. If you’re willing to hire a professional, you can expect to spend approximately $100 – $350 for an initial home staging consultation. You will pay between $250 – $3,000 for hands-on staging using items you already own or combining your items with those of the staging company.

During a home staging consultation, the home stager makes recommendations to help prepare your house to sell. You decide what suggestions you may want to implement and whether you will be the one doing the staging, or if you’ll pay to hire the home staging company to complete the project for you. 

Professional photos

Research shows hiring a professional real estate photographer can help homes sell faster and for more money. The investment is typically small, but the payoff can be massive when it comes to selling. Real estate photography usually costs between $100-$300 per shoot, however, if you’re working with an agent, their brokerage will likely cover this cost for you.

Real estate commission 

When choosing a real estate agent with a proven track record, the time it takes you is another “cost” you will incur when preparing to sell your home. While not necessarily a monetary expense, your time is valuable, and you will want to meet with several real estate agents to ensure you’re signing with the right one. Their commission along with the buyer’s agent commission is where you’ll have to pay out of pocket.   

One of the biggest costs of selling a house is the agent’s commission. The typical real estate commission is between 5 – 6 percent of the home’s sale price. If your home sells for $250,000, at 6 percent, you will pay $15,000 in realtor fees. Almost always, the seller pays the total commission cost. The real estate commission covers all the services your agent brings to help sell your home and will be detailed out in your listing agreement. 

Home seller concessions 

“Seller concessions” are when the seller agrees to pay certain costs for the buyer, usually as a tactic to sweeten the deal so the buyer is more likely to close. The buyer includes their request for concessions in their initial offer and becomes part of the negotiation process. 

For instance, a buyer can make an offer on your house but ask that you pay for the inspection, their home warranty, or other closing costs. As the seller, you can agree to pay all of that amount, a portion of it, or reject it outright. 

Seller concessions are often market-driven. This means you won’t find too many sellers paying concessions in a seller’s market. If you’re selling during a buyer’s market, you may have to agree to pay some of the buyer’s closing costs to get your house sold. 

Closing costs for the seller

Closing costs are an assortment of fees (not including agent commission) that are paid by both buyers and sellers at the end of a real estate transaction. They are typically 2-4% of the home’s sale price. Here is a list of the typical closing costs for the seller:

• Lender’s title policy
• Survey cost
• Property transfer taxes
• Appraisal fee
• Recording fees
• Owner’s title policy
• Settlement fees
• Attorney costs
• Any liens or second mortgages that are on the property
• Any seller concessions

How to calculate closing costs for the seller? 

A good way to calculate seller closing costs is by utilizing a seller closing cost calculator.

This calculator allows you to plug in the sale price of your home, your current mortgage information, and your closing date, to estimate your total closing cost fees.

Relocation costs 

Any time you make a move, there are expenses involved. These may be as big as hiring a professional moving company to come in, pack your personal belongings, load them onto a truck, haul them across town or across the country, and off-load them. Or they could be as simple as buying cardboard moving boxes from your local hardware store, packing up your items, and borrowing a friend’s truck to move everything yourself. Regardless, the cost to relocate must be thought through and budgeted for as well.   

4 Ways to reduce the cost of selling your home 

1. There are many ways to reduce the cost of selling your home. For starters, invest in a pre-listing home inspection as mentioned earlier, and carefully consider what repairs are needed. See how many of the repairs you are qualified to do yourself and research any projects you’d like to do that could boost the value of your home. All home improvement projects are not created equal, and you don’t want to dump money into something that won’t provide a good return on your investment. 
2. When you get to the staging portion of selling your home, do it yourself or only pay to have one or two rooms staged, like the kitchen and living room, which are two of the most important rooms in the house. 
3. To try and save on closing costs, such as if you’re in a seller’s market, you have the upper hand and probably won’t need to offer any concessions to the buyer. 
4. As for the actual move, do as much yourself as possible. If you just don’t have the time or are otherwise unable to move, you may want to skip the professional mover and instead opt for a mobile moving storage unit. The container is delivered to your home, you load it up, and the company takes it to your new residence. 

How much does it cost to sell a house by owner? 

A seller who decides to sell their house by owner must front all the costs, and responsibilities, that are typically handled by a real estate agent. 

One of the first things you would need to do is to determine a sale price. Since you don’t have access to a Multiple Listing Service (MLS) to research comparable sales, the next best option to determine value would be to get a home appraisal. This will cost you about $400.

As far as marketing your home, you will need professional photographs of your home’s exterior and every room in the house. Hiring a photographer will cost anywhere from $100 – $300 depending on where you live. 

Another aspect of marketing your home yourself is getting it in front of potential buyers. You can put a “For Sale” sign in the yard, post it online, and possibly take an ad out in your local newspaper. The amount you advertise will determine how much you spend. 

Remember that pre-listing home inspection? You will want to have that done when selling by owner to see if any repairs need to be completed before listing your home. The average cost for an inspection is about $400. 

Another thing to consider is all the forms you will need. While you can get free real estate forms online, you may wish to hire a real estate attorney to look over the documents. The cost will vary depending on how much time the attorney spends on your transaction. 

You will be responsible for negotiating every aspect of the sale (price and any repairs) and setting up a time to close. So, while some costs of selling a house on your own are easy enough to determine, others (like how much time you will spend on the transaction from listing to closing) can be more difficult to estimate. 

How much will I make selling my house?

The amount you net on the sale of your home will depend on things like the current market conditions, how long you’ve been paying your mortgage, and whether you have a second mortgage. To determine how much you would make by selling your house, you can use this basic equation:

Sale price – cost to sell your house + your mortgage balance = home proceeds

Or, another way is to simply use a home proceeds calculator to determine how much money you will make selling your home. Though these calculators don’t take into account any repairs your home may need, staging, or relocating costs you might also incur. 

Before listing your home for sale, you’ll want to take time to calculate each of the costs associated with selling a home. The more accurately you can estimate how much it will cost to sell your house, the better prepared you will be. Most importantly, you’ll have a better idea of how much you’ll have left over after the sale to put towards your next home.

The post How Much Does It Cost to Sell a House? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

When you buy a home, you’ll need to have home insurance to cover a variety of unexpected events that could do damage to your home. Typically, your homeowner’s insurance policy includes coverage for repairs in the event your home is damaged in a fire. But if your home is located in a high-risk location for fire damage like Colorado Springs, CO or Oklahoma City, OK, you may need to purchase a separate wildfire insurance policy.

To help you prepare for unforeseen wildfire damage and determine if you’ll need to purchase a separate wildfire insurance policy, here’s a breakdown of what repairs your homeowner’s insurance likely covers in fire-prone areas.

Does my homeowner’s insurance cover damage caused by wildfires? 

Generally, your homeowner’s insurance policy covers damage from fire, including wildfires. For example, if a wildfire damages your house, the policy typically includes coverage to help repair or rebuild your home and other structures. Some insurance policies may also cover the cost of temporary housing, replacing your belongings, and restoring landscaping. However, the cost and extent of coverage can vary based on the policy and the wildfire risk in your geographic area. 

Check your policy to understand your deductible and specific coverage details for wildfire damage to your dwelling, personal property, other structures, and landscaping such as trees or shrubs. 

What types of coverage can homeowner’s insurance provide for fire damage?

Homeowner’s insurance generally provides three types of coverage: dwelling coverage, coverage for other structures on the property, and personal property coverage. If your policy includes coverage for fire damage, here’s what may be covered:

Dwelling coverage usually pays to replace or rebuild the physical structure of the home and attached structures, like a garage or deck. Your policy will specify limits to the amount it will pay to rebuild the entire house, based on a formula that factors in materials and local labor costs. Keep in mind that labor costs have gone up significantly recently. Therefore, it would be best to review your policy to ensure you are covered at the current costs of labor and materials for your area. 

Depending on your homeowners insurance your property’s trees, shrubs, plants, and lawn may be covered. If your policy provides landscape coverage, it typically covers up to a certain percentage of your dwelling coverage. For example, if you have 20% coverage for these items and $350,000 in dwelling coverage, you would have up to $70,000 to replace your landscape. There are usually limits to coverage, so it’s best to find out what your specific policy covers.

Coverage for “other structures” allows you to replace items not attached to your house. These may include sheds, fences, or a detached garage. This coverage is typically calculated as a percentage of your dwelling coverage. For example, if your coverage for other structures is set at 10% of your dwelling coverage and you have $350,000 in dwelling coverage, you would have a $35,000 limit for other structures. It’s a good idea to review and update your policy if you recently added any structures, like an in-ground pool or gazebo, to ensure you have adequate coverage.  

Personal property coverage applies to your belongings. Your insurance policy may cover items like appliances, furniture, art, clothing, sporting equipment, tools, and electronics, among others. Limits for this coverage are usually set between 50% to 70% of your dwelling coverage. For example, with $350,000 in dwelling coverage and a personal property limit set at 50%, you would have $175,000 to replace your belongings.

Are additional living expenses covered?

Should you suffer “loss of use” because you can’t live in your home due to damage caused by a wildfire, coverage for additional living expenses may be included. Depending on your policy, this coverage might pay for expenses such as a hotel stay, pet boarding, restaurant bills, and even laundry services. If local authorities require you to evacuate, this coverage may also apply. 

Additional living expenses coverage is typically set at a percentage of your dwelling coverage. For example, if your coverage is 25% of your dwelling coverage and you have $350,000 for dwelling coverage, you would have up to $87,500 for living expenses incurred due to loss of use. It’s always best to check your policy to understand your policy’s specific coverage regarding fire damage to your home and belongings.

How do I purchase homeowner’s insurance in fire-prone areas?

While many homeowner’s insurance policies have coverage for fire damage, this may be dependent on the fire risk in your area. For homes in higher risk areas, some insurance companies may increase deductibles, charge higher premiums, cap payouts, or even decline to issue policies. Should your insurance company decline to issue coverage for fire damage, you’ll need to purchase a separate wildfire insurance policy.

When looking for wildfire insurance you may be able to purchase an insurance policy through a surplus line carrier or a premier carrier. Surplus line carriers offer insurance coverage for homeowners who have been denied coverage by a standard home insurance company. Policies through surplus line carriers tend to be more expensive than typical homeowner’s insurance. 

Premier carriers generally offer insurance policies for homes valued over $1 million located in high-risk fire areas. These policies generally offer loss prevention and private firefighting services. For those in need of wildfire insurance, surplus line or premier carriers may be the right option to protect your home.

If you can’t find homeowners insurance in your area, you might need to turn to your state’s Fair Access to Insurance Requirements (FAIR) Plan. The FAIR plan offers insurance policies to homeowners who live in high-risk locations that cannot get standard homeowner’s insurance. Keep in mind that insurance policies through the FAIR plan do not necessarily cost less than a regular homeowner’s insurance and tend to be limited in their coverage.

You may be able to get a policy through your state’s FAIR plan if a certain number of insurers have declined to provide coverage for your home. States can have different qualifications, and some may require that you attempt to get a traditional homeowner’s insurance policy before inquiring for coverage under the FAIR plan. When you live in an area prone to fires, it’s important to understand what your homeowner’s insurance covers or if you’ll need a separate wildfire insurance policy so that you’re adequately insured. Prevention is also key to mitigate any damage from a fire and there are steps you can take to fireproof your home from wildfires. 

Redfin does not provide legal, financial, or insurance advice. This article is for informational purposes only, and is not a substitute for professional advice from a licensed attorney, financial advisor, or insurance professional.

The post What Does Homeowners Insurance Typically Cover in Fire-Prone Areas? appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.