The Importance of a Fire Plan

If a fire breaks out in your home, every second counts. Most people understand the importance of smoke alarms and how they can be lifesaving in the case of an emergency, but equally important is having a fire plan for your family so everyone knows what to do if a fire does break out.

The National Fire Protection Association offers guidelines that can help people put together a plan. Here are some things you should do:

First, gather your family and talk about how the most important thing to do if a fire breaks out is to leave the house immediately. Don’t run into a room to grab photos or a beloved heirloom. Don’t stop to find your sneakers. Just leave the house. Fire spreads quickly and even if flames haven’t gotten to the room where you want to save something, you could find yourself trapped.

A great thing to do is go through your home and look at all the possible exits and escape routes so you know what to do if you do wind up being trapped. Those with children should consider drawing a floor plan of your home, marking the ways out of each room.

Walk through your plan and check to make sure the routes are clear and doors and windows can be opened easily. You may think you have an easy out of a window, but if it’s stuck and won’t open easily, it could lead to disaster.

If there are infants, older adults or family members with mobility limitations in the house, make sure that someone is assigned to assist them in in the event of an emergency. And have a backup in case that person isn’t home if a fire were to break out.

For those with rooms on an upper level, having escape ladders is a good way to ensure that there will be a way out, even if the fire has permeated the floor. Practice setting up the ladder from a first-floor window to make sure you can do it correctly and quickly. And store it in a place that’s easy to get to (like under the bed) so you can find it right away if needed.

Choose an outside meeting place a safe distance in front of your home where everyone can meet after they’ve left the house so you know everyone is safe. And never go back in the home. Your mind might start thinking about that valuable vase or irreplaceable collectible, but your life is worth more than anything ever could be. Once out of the home, remain out and let the fire department come and do their job.

It’s a good idea to run a fire drill at least once a year so you can make sure everyone knows what to do and there will be less uncertainty if a future fire event does happen.

Incentives You Can Offer a Homebuyer to Close the Deal

Sometimes a house lingers on the market for weeks or months without attracting a buyer. In other cases, a seller needs to close a deal quickly for personal reasons, such as to start a new job. If you want to sell your home soon, you can provide incentives to attract a buyer.

Items You Can Offer to Sweeten the Deal
Some buyers view a beautifully staged home and fall in love with the house and all the furniture. Others want to avoid the hassle of shopping for furniture and having it delivered and would prefer to simply move into the house. If you’re downsizing or don’t want to transport your furniture over a long distance, you can offer it as an incentive. If your home has any other unique features, such as artwork or antiques, you might be able to throw them in with the sale of the house.

Financial Incentives That Can Help You Attract a Buyer
If the home inspection uncovered problems that need to be repaired, going through the process of finding a contractor and having the work done might hold up the closing. As an alternative, you can offer the buyer money for repairs at the time of closing as an incentive.

If you need to close by a specific date, you can give the buyer a financial credit or bonus as an incentive to meet your deadline. You can also offer a bonus commission to the agent representing the buyer to speed things along.

Buyers often feel overwhelmed by all the bills associated with closing, such as escrow fees, title insurance, inspection fees, homeowners insurance, private mortgage insurance and taxes. Offering to cover some of these costs yourself may help you entice a buyer or convince someone to choose your house instead of another.

You also might be able to help a prospective buyer who’d need a mortgage to buy your house save money over the long run. Lenders generally offer interest rates based on market conditions at the time that a mortgage is obtained, but buyers can pay points, or upfront fees, that lower the interest rate over the life of the loan. A seller can also pay points on the buyer’s behalf and lower the interest rate as an incentive to convince the buyer to purchase the house.

Stand Out From the Competition
In a buyer’s market, simply having an attractive and well-maintained house and offering it at a reasonable price may not be enough. If your house has been slow to sell, or if you’re facing a deadline and need to speed up the process, offering incentives to a buyer may help you close the deal faster. You can advertise those incentives up front or offer them later if a buyer is on the fence. Discuss possible incentives and strategies with your real estate agent.

5 Improvements That Increase Your Home Value

Before you put your home on the market, it’s important to make sure everything’s in tip-top shape in order to maximize value. One of the challenges, however, is knowing which improvements are going to make a difference. Here are five updates that buyers are willing to shell out a little extra cash for.

Updated Kitchen
The kitchen is the heart of the home, and it can often make or break how buyers feel about a residence. You don’t have to undergo a top-to-bottom remodel before listing your house, but upgrading your appliances and replacing dated countertops can transform your cooking space.

Outdoor Living
High-end buyers are looking for homes with outdoor spaces where they can both enjoy family time and entertain. If your patio or deck is looking a bit tired, you can make it more appealing by adding a fire pit or barbecue area where people can envision themselves hanging out.

Eco-Friendly Features
Spend a little more money to make your home eco-friendly and you’ll surely see a return on your investment. Energy-efficient windows and appliances have major appeal to buyers who are looking to lower their impact on the environment while also lowering their utility bills.

Well-Appointed Bathrooms
If you want your home to fetch top dollar, you better have luxurious bathrooms. High-quality fixtures for the sinks, showers and baths are a must. It doesn’t have to be a total overhaul, but refreshing the bathrooms with new tiles and countertops can go a long way in the eyes of potential buyers.

Curb Appeal
You only have one chance to make a first impression. When buyers arrive at your home, they’re going to have formed an opinion before they even step inside. A new front porch or walkway can pay off when it’s time to sell your home.

If you’d like more insight into how to get your home ready to sell, I’d be happy to discuss further and provide you with personalized advice for your property.