It’s often noted that there are benefits to closing on a home you’re buying at the end of the month. Are there any advantages to closing at the beginning or middle of the month? What’s the difference? If I’m buying a home for a certain price, why should it matter when I close? If you’re obtaining a mortgage, the day you close will determine how much money you need to bring to closing. It won’t, however, change the monthly date your payments will be due. Let’s say your due date is the 1st of each month. Then you won’t have a mortgage payment due until the first of the second month after you close. So now let’s break down “best day to close” theory.

Because mortgages are paid in arrears (for the month passed), the date you close will determine how much money you have to bring to closing as you’ll be paying the interest needed to cover the remainder of the current month.

Examples:

If you close on May 6th, you will need to bring enough money to closing to cover 25 days of interest for that month (31 days in May – closing on May 6 or 31-6 = 25 days of interest due).

If you close on May 28th, you will only need to bring enough money to closing to cover 3 days of interest for that month (31-28 = 3).

With either option, because you’re closing in May, you won’t have a mortgage payment due until July 1st. So, if you’re already stretching yourself to have enough funds for your down payment at closing, setting your date at the end of the month will reduce the amount f cash you’ll have to bring.  Closing at the beginning or middle of the month will require you to bring more cash to closing but you will have more time in the home before your first mortgage payment is due. This might be helpful if you need to get kids registered for school or start your new job, etc.

So you’ve moved into your new, perhaps older, home that wasn’t built with the largest of closets. Or, you have an extra room and even though you have a good sized closet, you’ve always wanted a special ‘dressing room’ all your own. Be brave. Get creative and turn that extra bedroom or den into your private retreat. And you don’t have to spend a lot of money. Add a closet organizer with racks and shelves to a long wall, add individual hooks to the wall to create a stylish display and easy accessibility of hats, scarves, jewelry, handbags…whatever works best for you. You can add a storage bench against a wall for more storage or use a larger upholstered one in the center of the room which adds to the design an storage space.  Add shoe racks or buy inexpensive racks that match the wall piece and stack shoes in their boxes or plastic shoe boxes. You can also add behind door shoe or purse racks or hooks for robes or sweaters. There are so many things you can do to make it your own! The space in the photo was created for under $150 over a weekend. (tip: Put hooks  up with 3m type adhesives so you can rearrange your wall and design easily and again at minimal cost.)

When the grandkids visit, you can always add a toddler bed or blow up mattress while they’re there and then simply put it away when they’re gone and return to enjoying your very special personal space.

Sometimes your home doesn’t need a whole makeover in order to get ready to sell. Sometimes it just needs a few some simple changes or updates to make it fresh and ready to entice its next owner.

• Take a slow and objective walk through your home with a clipboard and as you enter each room, make a note of what you think needs to change. Then have an objective friend who you trust and hand them a clipboard and ask them to do the same thing. Compare notes over a cup of coffee (or glass of wine) and make a project list for yourself.
• Are the dents in your carpet sunk down to the sub-floor because the furniture hasn’t been moved in years? You don’t need to pay a professional stager. Have a friend whose home you and others always admire for its great design and decor? Invite them over to help you rearrange your furniture and if necessary update your decor (nothing major but sometimes your decor screams a bygone era). If necessary, get rid of any furniture (put in the garage or storage) that look sad and worn out or adding to a cluttered feeling. Review….Rearrange….Refresh & Sell!
• If you take down a framed photo or piece of art, is the wall beneath it a completely different color than the rest of the wall? Can’t afford to paint all your rooms? Give your walls a good old fashioned washing? May be tedious but costs less than paint and can have the same positive affect. Also, wash your baseboards, trim, doors, windows and ceiling fan blades. Get rid of any and all cobwebs even way up in that vaulted ceiling. You might think no one will notice them BUT THEY WILL!
• If you’ve followed the advice you’ve seen in articles and on diy tv shows and painted your entire home in neutral beige or taupe tones, add color and energy to your spaces by the simple addition of live green plants. Live plants bring life to your home. There are plenty of plants that look great and can be easily maintained. When doing an open house or showing, a vase of fresh flowers will do the same thing. People don’t want to live in a dreary monotone home. Give it life with life!
• De-clutter! Again, have a trusted friend who you know will be and you’ll let be honest with you. Buy bins if you’re not ready to get rid of your knick knacks and stash them away out of view. You can decide later what you want to keep and what you don’t want to have to move later.
• You can update your kitchen or baths by simply changing the hardware on your cabinets, updating window treatments and giving your appliances a good scrubbing. Clean the outside, top and inside of the oven and microwave. Again, the kitchen is a great place to place a few small pots of fresh herbs. Basil and rosemary are great for your kitchen. A pot of lavender is a wonderful addition to the bath.
• Have a messy home office but you need all those papers and files, etc? Invest in a few attractive office organizers. Again, they don’t need to be fancy, expensive items. Both Walmart and Target have great office organizing options.

You don’t have spend a fortune to get your home updated and ready to sell. You simply have to invest your own time and energy to get a great result! The only downside is that once you’re finished, you might not decide to sell! Hmmm, but even that can be an upside!!

If you watch tv at all or read the newspapers, it can be confusing when you’re trying to decide if it’s a good time for you to sell? Is it a good time for you to buy? Are people still looking? Are interest rates a problem? Are values going up? Going down? How can you make the best decision with confidence about moving forward…or not? Perhaps once you realize it’s all about perspective you can determine the best decision for you.

Why is it a good time to sell?

• Interest Rates Are Still Low
• Interest Rates Might Be Going Up
• Economy on Upswing
• Prices Are Still Rising or are Stable
• Buyers Are Still Shopping

Why is it a good time to buy?

• Interest Rates Are Still Low
• Interest Rates Might Be Going Up
• Economy on Upswing
• Prices Are Still Rising or are Stable
• Buyers Are Still Shopping

Get the point? It’s all in perspective. If you want to sell…sell! If you want to buy…buy!  We’re in a unique time so take advantage and give yourself the authority to move forward into your future!!