Wendy Butler | ERA Key Realty


A home selling budget can make a world of difference, particularly for individuals who want to avoid potential problems during the property selling journey. Yet crafting a home selling budget may be difficult. Thankfully, there are lots of things you can do to simplify the process of creating a home selling budget that matches your finances.

Now, let's take a look at three tips to help you create an effective home selling budget.

1. Analyze Your Home's Condition

The condition of your home can have far-flung effects on the home selling journey. If your house requires a wide range of repairs and upgrades, you will need to budget accordingly. Otherwise, assorted home problems may go unaddressed and could make it tough for you to maximize your house sale earnings.

Consider the buyer's perspective as you assess your house. That way, you can identify minor and major home issues and include various property repairs and upgrades in your house selling budget.

It may be beneficial to hire a home inspector too. If you have a property inspector assess your house, you can receive expert insights into myriad home improvements.

2. Determine If Professional Home Improvement Assistance Is Needed

If you find you need home improvement assistance, you should plan for the costs of hiring professionals. By doing so, you can avoid the risk of overspending to improve your house.

Reach out to dozens of home improvement professionals in your city or town. If you shop around for home improvement professionals, you can boost the likelihood of getting the best prices.

Don't forget to ask home improvement professionals for client referrals as well. If you get client referrals, you can gain firsthand insights into what it is like to work with a home improvement professional before you make your hiring decision.

3. Collaborate with a Real Estate Agent

A real estate agent can provide extensive support throughout the house selling journey. In fact, he or she may help you budget for all stages of the home selling journey and ensure that you won't have to break your budget to achieve your desired results.

Typically, a real estate agent will offer tips and recommendations to help you enhance your residence before you add it to the housing market. In many instances, a real estate agent can provide suggestions so you can upgrade your residence on your own. Or, if you require additional assistance, a real estate agent can put you in touch with the top home improvement professionals in your area.

A real estate agent also is happy to provide expert guidance as you navigate the home selling journey. This housing market professional can help you make informed decisions as you try to sell your home. As a result, a real estate agent can help you make your home selling goals come true.

Ready to sell your house? Take advantage of the aforementioned tips, and you can prepare a successful home selling budget.


If you’re a newer homeowner, odds are you don’t really “own” your home outright. Rather, you likely have equity in your home.

In this article, we’re going to talk about what home equity is, how to use it to your advantage, and things you should avoid using your home equity toward.

 What is home equity?

Unless you’re one of the lucky few who paid for their homes in cash, you probably took out a mortgage. As you pay off that mortgage you build equity.

Home equity is essentially the value of a property that a homeowner has at their disposal due to paying back part or all of their mortgage.

However, there’s another factor at play in home equity, and that’s market value.

Since the housing market fluctuates, the value of your home does as well, and as a result, your home equity changes with the market value of a house. That might sound worrying, but the good news is that due to something called appreciation.

In the same way that the cost of living tends to rise each year with inflation, so do housing prices. However, appreciation isn’t the only factor at play in the valuation of your house. As your home ages, it will likely need some renovations, which could decrease the home value.

Generally speaking, however, your equity achieves a net gain as you pay your mortgage and the value appreciates.

Increasing equity

Now that we know why equity can be so beneficial as an asset, let’s talk about ways to build it.

The best way to build home equity is to repay your home loan. However, more than simply repaying, you’ll want to repay in the fewest number of years to avoid paying more in interest. The longer you take to pay your mortgage, the more interest accrues that could have been used toward other investments.

The second way to increase equity is one we mentioned before--market fluctuation--namely appreciation. To improve the chances of getting a high appraisal of your home, it’s important to keep up with maintenance and make smart renovation choices that will have a high return on investment.

Using home equity

The best use of home equity is to leave it be and increase its value over time. However, that isn’t always possible for all of us. Since many of us need to move before repaying our full mortgage, equity allows homebuyers to use their equity toward their next mortgage.

Another option is to take out a home equity loan or home equity line of credit. Ideally, you’ll only use these loans if you’re planning on using the loan money to increase the value of the home via home improvement projects.

Borrowing against your home equity does come with risks. Since you are putting your share of your home on the line, there is a chance of your home being foreclosed on if you don’t repay the home equity loan. However, lenders typically seek other methods of repayment or settlement before foreclosure.


This Single-Family in Hudson, MA recently sold for $312,250. This Ranch style home was sold by Wendy Butler - ERA Key Realty Services - Distinctive Group.


106 Park Street, Hudson, MA 01749

Single-Family

$329,000
Price
$312,250
Sale Price

5
Rooms
3
Beds
1
Baths
106 Park Street would be great for a first time buyer and is ready for you to move in. BRAND NEW ROOF and WINDOWS just installed! Open concept kitchen and living room with a cozy fireplace and large picture window. Relax in the new deep soaker bathtub in the beautifully remodeled (2015) bathroom. Basement has a lot of storage space and laundry area with a large bonus room that could be used for an office, playroom, exercise room, or whatever you choose. Large backyard has a patio, storage shed and swing set which is optional to stay or can be removed. Also, a second unpaved driveway on left side of house. Older working oil furnace however there's also a Natural gas line at the house. This is a great option an possibility to qualify for a MASS SAVE loan! This super cute home is ready for new memories to be made here!

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If you plan to pursue a home in the near future, there is no need to wait to get a mortgage. Because if you enter the housing market with a mortgage in hand, you'll know exactly how much you can spend to acquire your dream house. As a result, you'll be able to map out your home search based on your property buying budget.

There are many things you can do to ensure you can get a great mortgage prior to launching a house search. These include:

1. Learn About Your Mortgage Options

Banks and credit unions offers a wide range of mortgage options. If you meet with these financial institutions, you can learn about all of the mortgage options at your disposal.

As you assess your mortgage options, it is crucial to weigh the pros and cons of each option. That way, you can make an informed decision about a mortgage and decide which option will serve you well in the years to come.

2. Ask Mortgage Questions

If you are uncertain about what differentiates one mortgage option from another, it is important to remember you are not alone. Fortunately, you can ask mortgage questions to home financing professionals to determine which mortgage option is right for you.

Banks and credit unions employ friendly, knowledgeable home financing specialists who are ready to respond to your mortgage queries. Thus, if you discuss your mortgage concerns with home financing specialists, you can get the guidance you need to choose the best mortgage based on your individual needs.

3. Improve Your Credit Score

Your credit score may have far-flung effects on your ability to get pre-approved for a mortgage. However, if you analyze your credit score, you can determine if you need to take steps to improve this score before you apply for a mortgage.

You are entitled to a free copy of your credit report annually from each of the three credit reporting agencies (Equifax, Experian and TransUnion). Take advantage of this complimentary perk, and you can analyze your credit score at your convenience.

If you have outstanding debt on your credit report, you may want to pay this off as soon as possible. Remember, the sooner you pay off outstanding debt, the sooner you can bolster your credit score.

In addition, if you identify any errors on your credit report, notify the agency that provided the report immediately. This will allow you to correct any credit report mistakes before you submit a mortgage application.

As you get set to apply for a mortgage and conduct a home search, you may want to hire a real estate agent too. A real estate agent can provide expert guidance as you pursue your dream residence. He or she will help you find a house that matches your budget, attend home showings and much more.

Ready to launch a comprehensive home search? Get pre-approved for a mortgage, and you can take the first step to establish a budget for the homebuying journey.


Take a drive to the end of this lovely cul de sac neighborhood of splendid homes and you'll find a meandering drive way with an elegant young residence privately nestled and surrounded by nature. From the generously proportioned kitchen to the the massive vaulted sky lit fire placed living room, you'll be inspired by this exceptional home. Formal dining room with attention to detail with decorative molding and french doors at both entrances and gleaming hardwood flooring that extends through the foyer and study. Both master and main baths have vaulted ceilings and sky lights. Spacious finished lower level gives even more room for all to enjoy. An ideal home for entertaining both indoors and outdoors. Here you will find elegance and sophistication combined with comfort and style. Showings begin at the Open houses Saturday and Sunday 5/4 and 5/5 from 12 to 2:00.

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