Eric Mitchell Real Estate

Money Matters for Millennial Parents As a young parent, you may just be learning about all the responsibilities parenthood requires. When it comes to financial planning, setting your sight on the future can help immensely. Demolish debt.  Slaying your own debt will positively impact your family’s financial future. While it may take years to pay off those student loans or credit card debt, creating a plan can help. Tackle your lowest balance first to gain momentum then take on the next smallest. Additionally, pay attention to higher interest rates that are costing you a lot of money. Build a budget.  Creating a budget doesn’t have to be hard. There are many budgeting apps available on the market to help you track your expenses, or you can try the trusty envelope system with monthly allowances for groceries, entertainment, utilities, etc. Build an emergency fund.  Setting a fund for potential emergencies will never backfire. Aim for a small, achievable goal a...

Save for a Home with a Dollar-for-Dollar Match Program A federal program helps low-income families buy a home with a unique method meant to encourage saving: It matches dollar-for-dollar what they save to buy their first home. The Individual Development Account, or IDA, doesn’t offer a lot of money to help with a down payment — up to $2,000 in federal matching funds with more contributions possible from local IDA programs — but it’s a start. Participants can start by saving as little as $25 — matched to as much as eight to one, depending on the program, though most offer one-to-one matches. Income levels must be 200 percent below their state’s poverty level. With an 8:1 match, IDA participants can raise much more than the $4,000 total with federal matching, and could have $10,000 or so for a down payment on a house. Most IDAs are funded by the federal government and are run by nonprofit groups and financial institutions, and grantee programs are required to raise an equ...

5 Ways to Make a Personal Statement at Home There’s so much advice out there about neutralizing your home design for maximum resale value that our personalities are in danger of getting lost in the shuffle. Unless you’re getting ready to put your home on the market soon, go ahead and let your individuality shine through with interior design that reflects your tastes and interests. Here are five easy ways to do so: 1. Make it a grand entrance.  Maybe it’s an unusual door knocker or a doorbell that plays Beethoven’s 5th—or a whimsical piece of statuary or planter filled with something unexpected, like a well-stacked group of beach rocks. Try hanging a small sign with a favorite saying that welcomes guests. Whatever you choose, small touches like these make a personal statement before anyone even gets inside. 2. Put furniture in the ‘wrong’ room.  Remember when Joey and Chandler opted for a foosball table over a kitchen table? Maybe something similar will work for you....

Staging the Garage: How It Can Help You Sell More Quickly Storage space is a huge amenity and so, often, the garage is a big selling point. The problem is a lot of times people don’t think about preparing the garage for a home sale, and it’s filled to the top with boxes and clutter. Even if it’s necessary to use some of the area for storage purposes, it’s important to keep everything neat and organized. A garage is a great place for storing items we don’t use every day, but it can also be used for working on projects, keeping cars protected from bad weather and sometimes even second as a workout room. Plus, a clean garage may subconsciously imply that you take better than average care of your home and may also give a feeling of newness to a property. Home stagers are a great resource for making the garage stand out and unlike other areas of the home, garages don’t tend to need costly fixtures or furniture. To prepare a garage, you should start by removing all the junk ...

House Hunting Mistakes to Avoid Buying a house is a serious thing and if you’re on the hunt for a new home, it’s important to make smart decisions. One of the biggest mistakes people make is buying a home they can’t afford. It’s important that you consider what the mortgage payment is of course, but you also need to factor in insurance, taxes, upkeep, monthly bills and any renovations that will need to be done. Sure, you might have enough to buy the home, but you don’t want to be spending every last dollar once you move in. Another mistake people make is buying a home too quickly, even when it doesn’t meet the hopes and dreams on their “wish” checklist. Now, this doesn’t mean you are definitely going to get everything you want in a home, but don’t be discouraged after one day of looking. By not doing your due diligence, you could see your dream home become available soon after and by then, it will be too late. Try to make a list ahead of time of what you really desire and ...

Bang for Your Buck Upgrades That Will Help Sell Your Home When you’re ready to list your home for sale, you want it to look its best. But some upgrades are worth more than others if you’re talking about what appeals to a buyer. Fortunately, we know some quick and affordable tricks that will give your home the facelift it needs: A fresh coat of paint . Nothing refreshes a home more than a new coat of paint. It’s a worthwhile and inexpensive upgrade that will more than pay for itself. A lighter color will also open up rooms, making your home seem brighter and more spacious Improved lighting . Replace your boring dining room light fixture with something eye catching. Use warm 60-watt light bulbs to make spaces feel bigger and brighter. Leave curtains open when the house is being shown, but make sure they look neat. Clean flooring . Old or dirty carpeting is a turnoff, but replacing it can be expensive. In many cases, buyers prefer to replace it with hardwood floors....

4 Don'ts When Putting Your House on the Market So you’ve decided to put your home on the market. Congratulations! Hopefully, you’ve brought a rockin’ real estate professional on board to help you list your spot, and together you’ve done your due diligence on what price to ask for. As you start checking things off your to-do list, it’s also important to pay mind of what  not  to do. Below are a handful of things to get you started. Don’t over-improve. As you ready your home for sale, you may realize you’ll get a great return on your investment if you make a couple of changes. Updating the appliances and replacing that cracked cabinet in the bathroom are great ideas. However, it’s important not to over-improve, or make improvements that are hyper-specific to your tastes. For example, not everyone wants a pimped-out finished basement equipped with a wet bar and lifted stage for their rock-and-roll buds to jam out on. What if your buyers are family oriented and want a...