Why Homeowners Work with EquiMaxit
To respond to the expectations of homebuyers in today’s market, homeowners and their real estate agents are looking for ways to complete repairs and renovations. Here are the top reasons why homeowners want to work with EquiMaxit to update their homes.
- Homeowners are short on cash. Some homeowners don’t have the money to pay for repairs before listing the home. Or, they may need their available cash for moving expenses or a down payment.
- Homeowners either can’t or don’t want to use credit to pay for repairs. This is especially true if the homeowner will finance their next home purchase. Increasing debt right before applying for a mortgage is never a good idea.
- Homeowners are surprised by the cost of required repairs and renovations. Some homeowners have some money to update their home, but they’re not aware of the true costs, and don’t have the money to fund everything that needs to be done.
- Homeowners don’t know who to hire to complete updates. Choosing contractors to work on a home can be very confusing. The fear of ending up with an unfinished or shoddy job makes homeowners hesitant to do anything.
- A divorce reduces the amount of funds available. Divorces are never planned, and can catch homeowners with extremely long “to do” lists. In addition, the cost of establishing separate residences and other costs of divorce often make funding updates impossible.
- A move to an assisted living or nursing home catches a family unprepared. As we age, it’s typical that home repair items are ignored. In addition, if an older person or couple have lived in a home for a long time, the odds that it will need renovation before going on the market is high. This situation is further complicated if children live some distance from their parents. They don’t know reliable contractors and can’t stay in their parents’ location to oversee the work.
- Children must settle a parent’s estate. When a parent dies, decisions need to be made about the disposition of the parent’s home. The same issues exist as when an elderly parent moves to an assisted living or nursing home.