If you’re a homeowner looking to buy your next home, then you’ll likely have to juggle selling and buying at the same time. In an ideal world, you’d close on both homes on the same day, but that’s rarely the case. Expect some time between selling your house and buying a new one – or vice versa. In this Redfin article, we’ll outline the steps for selling and buying a house at the same time....
When shopping for a mortgage, you’ll likely come across different loan terms, fixed-rate, adjustable-rate, and hybrids like the 7/6 ARM. But what exactly does “7/6 ARM” mean, and how does it compare to a traditional 30-year fixed-rate mortgage? Whether you’re buying a house in Los Angeles, CA or settling down in Dallas, TX, understanding how different mortgage structures work can help you make a...
Moving from an apartment to a house has its perks, from having more living space to finally being able to enjoy a lawn. However, it’s understandable if you feel a bit frightened by the possibility of intruders or other safety issues. After all, unlike apartments, which typically have their own safety measures in place, a new home is often a blank slate. The good news is that there are plenty of steps you...
Heat waves continue to affect most of the U.S. this summer. Here's how you can protect your HVAC system during the heat and conserve energy...
Buying a home is one of life’s biggest investments, and protecting it should be a top priority. That’s where homeowners insurance comes in. Homeowners insurance helps protect your investment by covering unexpected damage, loss, or liability. If something happens – like a fire, burst pipe, or break-in – your homeowners insurance helps pay for repairs, replaces lost belongings, and can even cover...
Key Takeaways What sellers pay for: Sellers usually cover real estate agent commissions (typically 3%-6% of the sale price), owner’s title insurance (around 0.5%-1% of the home’s price), and various closing costs that generally range between 2%-5%. These figures represent national averages — actual costs can vary significantly depending on location and property value. What buyers pay for: Buyers...
Contingencies are an important part of the homebuying process, giving buyers a safety net during the transaction. They are conditions written into the purchase agreement that must be satisfied for the sale to move forward, allowing either party to back out without penalty if specific terms aren’t met. Although not required, contingencies are standard in most real estate contracts, and some are especially...
Solar panels are becoming a popular choice for homeowners nationwide, but a common question is: does solar increase home value? In short, yes—adding solar to your home can increase value. In fact, homes with solar panels typically see up to a 6.9% increase in value. This depends on several factors, including local electricity rates and state policies, the age and efficiency of the system,...
These days, you’re going to want to get your price right when you get ready to sell your...
Prices keep rising, but bargains haven’t disappeared Thirteen years ago, the U.S. median home sale price was $190,000, and a household needed $35,600 in annual income to afford it. Today, the picture looks very different. Housing affordability has since fallen to record lows after two years of price growth, with the typical home selling for $440,000 in August. Even with mortgage rates dropping, buyers...
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