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Are My Minnesota home selling habits good or bad?

Are my Minnesota home selling habits good or bad?

This article will dive into the different habits that you have around your Minnesota home both good and bad.

Many have to do with money, some to do with energy, emotions, experiences and memories.

What’s important is that we can learn from both good and bad habits, experiment and evolve in the process.

Habits are like a system and I define habits more with what we do daily vs. once in awhile although I don’t think everything in a house from experiences to maintenance are meant to do daily.

As you read through this realize that the home that you live in and the ones that you buy as an investment rental home or property are slightly different in the habits that you’ll have.

The investment property will me strictly based on profits, return on investment, income, and cash flow.

The home you live in will be more about your family, experience, memories and you may not always get the best return on your investment.

The reasons habits aren’t so important is that they are small tiny steps that compound into bigger results over time in the process of just living a busy life. It’s important for your subconscious to be self-aware when your habits are good or bad and how to course correct along the way.

Sometimes you will be directly involved and sometimes you will be indirectly involved while you delegate and pay someone else to work on the projects.

My Minnesota Housing Good Habits

Many of the good habits do revolve around making income with your house.

Let’s discuss the home that you live in with your family and growing kids. Robert kiyosaki from Rich Dad Poor Dad will tell you that your home that you live in is a liability because according to Robert a home that you live in tales money out of your pocket in most cases.

Think about it: You have principle and interest payment to your mortgage company. You have property taxes and home insurance. Appliances break, homes becomes outdated, homes cost money in ongoing maintenance.

Many people do home improvements with $50,000+ kitchens, or $20,000 bathrooms of which they will eventually lose money and not get a return of investment on. When your water heater or firbance breaks that can be very expensive.

There are also major expenses such as roofs, windows, siding, hardwood floors and more. You can save a lot of money with good habits by mainting the house by not scratching the floors or the woodwork, breaking windows with toys flying through the air.

You can remove snow from your roof so that it doesn’t turn into ice and ice dams. A good roof can last decades with food shingles and well maintained which is a good habit.

Don’t let your hardwood floors get too scratched from sharp objects lying around or faded from the sun. Over the years you may resand and restain your floors.

One really bad habit is not taking off your shoes and not vacuuming and carpet cleaning your carpet.

Over the years it will get very worn out and need to be replaced and this can get very expensive and for those who bought new construction you haven’t had to pay out of pocket for such a big expense.

Also when you buy a new construction home or well Maintained home with a newer furnace, newer water heater and water softener you really eliminate the need to pay big amounts out of your pocket.

Another good habit is to make sure you clean the toilets and don’t accidentally flush anything big down the toilets. Make sure your heat is always on because you don’t want your pipes to burst in the winter time and flood your house as that could coat $50,000 to $100,000 to fix. This can happen from drastic changes in warm to cold to warm weather.

Washers and dryers also easily break so don’t accidentally stick something in either that can break them.

Screens rip easily so be careful around them. Don’t use sharp items near the walls as you may end up with holes and need to patch and drywall parts of them and try to match the paint.

Try not to put too many nails and holes in the walls as you’ll want to fill those before you sell the house.

Make sure to have a working fan in the bathroom or you will get surface mold and need to tear out the wallpaper or keep repainting the walls. Moisture can compound and break the tile surround.

Don’t park cars or large items on the grass as it can kill the grass also make sure to take all of the leaves before the winter is here and the snow because left over the winter you can kill the grass. Make sure if you don’t get enough water for a week to water the lawn if it’s dry, so that it stays green. These are good habits.

When it comes to the furnace you want to make sure that you clean the furnace filter. You’ll not be using the air conditioner in the winter.

You will he shutting off the outside water for the winter so that the pipes don’t freeze.

If you have underground sprinklers make sure to have those blown out. Make sure to trim dead tree branches and bushes.

Make sure to shovel your driveway or snowblow it after a few inches of snow or it will turn to ice and be dangerous and you could slip on it. Also make sure to shovel a pathway for the mail person and the steps in the front and back.

There will be many wind storms, hail and rain storms, so pick up garbage and branches after each.

After a really bad hail storm it’s common to have an insurance company come out to your house and inspect your roof, siding, Air conditioner, and windows just for starters.

After a bad storm rain may get Into the windows, or the basement. Your sump pump in the basement may not be working.

A lot of these good habits are just maintenance and being very aware of what’s going on and getting on top of it right away before it compounds into an even bigger problem.

You should lick your garage side door as theives are known to break in to steal items, expensive tools, or your vehicles.

Take care of your driveway and keep it clean they crack over time and get oil spills and it all adds up.

Look for cracks in the foundation or the side of the home and don’t let it get any worse.

Keep your deck and porch properly stained as the wood does rot over time and can become dangerous.

Keep your pool clean as the lining can rip or animals can start to live in them. Keep your pool maintained and don’t let the water get dirty, you want to keep it treated with the right chemicals.

Don’t let wood siding or brick siding crack or chip as that can be expensive to fix and often they discontinue making that brand.

Cleaning some parts of your house will be daily, other parts May be weekly, and some of the bigger exterior stuff may be more of a monthly type of thing that you look over.

It’s a good idea when you buy a house to order an inspection or after you buy one to know what parts are being neglected.

If you rent out your house to section 8 for example expect an annual section 8 inspection as well as an annual city inspection.

My experience was a lot of outlet covers were cracked and window screens that were ripped.

When you move furniture, couches and chairs be careful not to nick up walls or scratch floors. You can put felt under chairs to help slide them or under couch legs. Fire and water damage can often ruin a house where it’s a total loss so be very careful on preventing these issues.

When you put in carpet, wooden doors, trim, carpet, update bathrooms and kitchens be mindful of what will still be in fashion 10 years from now if you were to sell the house.

You may not put a pavement driveway on an $800,000 home, you may want concrete. You’ll likely also need well maintained landscaping on a more expensive home.

Your very expensive home can have a one car garage, or cheap fixtures. What you do must fit the price range of the house as well.

We’ve covered a lot of good house habits to have above and what to mindful of, aware of and look out for.

If you aren’t going to maintain the lawn, landscaping or other items like the roof or leaves than hire outside service to keep up with the maintenance to make sure that it’s getting done in a timely manner.

A lot of what I covered was about saving money by maintaining, but you can also have great habits of renting out rooms and renting out your basement, or when you are away from your house on Airbnb. It’s a very good habit to make money along the way.

I think one of the best house habits that you can have is to buy a home hot house hacking like a duplex, triplex, or four plex and if you want to get into the property for very little down like 3.5% do that.

Also the universal tax exclusion where you live in the property 2 of the last 5 years is an amazing tax benefit. With this house hacking you can use leverage and get into a multi-unit property without a lot of money upfront. Also this offers you a great opportunity to bring in a lot of extra cash flow, possibly live i. Your house for cery little or make an income, so that it’s an asset vs. a liability like Robert Kiyosaki talks about. To learn more about investing, house hacking or cash flow when buying a Minnesota house click this article

I also think it’s a great habit as your family is growing up to have a lot of wonderful experiences, many holidays, entertain a lot, take photos and videos and make amazing lasting memories, so you keep some positive energy in your home.

A lot of the bad habits are mentioned above to look out for and we will try to get into a little bit more details on the bad housing habits below.

My Minnesota Housing Bad Habits

Many bad habits around your house are related to losing money, opportunity costs, deferred maintenance and losing money.

The bad housing habits will waste your energy, your time, your money, disqualify you, and even can create injury and safety concerns.

If you own a rental property you’ll have to be even more careful with icy steps, icy roofs, cracks on steps or driveways because of renters slip and fall you could get sued.

Also as a landlord look into depreciating items in your house on a tax schedule amd to not take advantage of cost segregation is a bad habit. Also having your rental properties owned inside of your LLC companies to limit your liabilities. You don’t want the bad habit of getting sued.

It’s a very bad habit to not change furnace filters and not take ice off of roofs, roofs can cost $8000 to $12000 to replace, so take care of it.

Flooding your house from frozen pipes bursting cost $50,000 to $100,000 especially if your second floor collapses into the first floor from turning into an ice rink.

Anything left on that can cause a fire is a problem as a fire can burn down the whole house and all of your belongings And memories.

Homes that are not well maintained become health and safety hazards and can create a lot of risk, lawsuits and financially ruin people.

In today’s world a lot of people are behind on payments, in forebearance, in foreclosure, under water with no equity, took out all of their cash with a refi, have a lot of deferred maintenance, or their house is very outdated.

These are bad habits associated with a house. Also if you are stuck with a house, or don’t know how to fix it or afford it this is also a bad habit.

If your house is a headache to you or your family, or siblings and you are motivated to sell your house learn about how a Minnesota investor that I know may have interest in buying it for cash or with seller financing.

If this sounds like you, click here

“I’m ready, I’ve decided it’s time to sell my mn home as-is, fast cash offer!”

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