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Zillow's 12 Favorite Real Estate Tips

 

 

Buying a Home

 

Tip #1: Budget $9,000+ a Year for Hidden Homeownership Costs

From utilities to basic maintenance like carpet cleaning and lawn care, there are lots of hidden expenses related to owning a home. The average homeowner spends more than $9000 a year on these costs.

Tip #2: Summer is the best time to buy a home

Homebuyers will find the most inventory and more frequent price cuts in August and September.

Tip #3: Living in the Suburbs May Save You More Money Than You Think

City living comes with a premium. Families spent $9000 more A year on housing and childcare in the city then they would in the suburbs.

 

 

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Selling a home

 

Tip 4: List your home for sale on a Saturday

Homes listed for sale in early may sell nine days faster and homes listed on Saturday get 20% more views in their first week.


Tip 5: painting your bathroom blue would boost your home’s value

Homes with blue bathrooms sell for $5400 more than expected


Tip 6: budget $15,000 to sell a home

From closing costs to basic home, the average US homeowner spends $15,000 in hidden costs to sell a house.

 

 
Home Financing/Mortgages

 

Tip 7: attending bachelor parties can add up

Millennials can spend nearly $14,000 attending destination bachelor and bachelorette parties. That’s 34% of the down payment on the median home.


Tip #8 finding the right lender could save you thousands

Americans spend more time shopping for cars (11 hours) then they do on a mortgage (eight hours), get a small difference in an interest rate can cost tens of thousands of dollars over the life of a loan.


Tip 9: you don’t need 20% down to buy a home

More than a half of millennials less than 20% down on their home purchase. With rising home values and rents, renters say saving for a down payment is their biggest hurdle to homeownership.

 

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Home improvements

 

Tip 10: One in three homeowners regret DIYing a home improvement project

Renovation projects may look easy on TV, but many homeowners wish they would hire a pro.


Tip number 11: buying a fixer-upper may not be as good of a deal as you think

The average fixer-upper home lists for8% discount, saving the buyers only 11% for renovations.

 

 
Renting

 

Tip number 12: renewing your lease could save you nearly $4000

A renter who moved in the past year paid an average of $329 more each month then a renter who has lived in the same place for five years longer.