Reach Your Real Estate Goals in 2024 with These New Year's Resolutions

2024 Real Estate GoalsMake 2024 the year you reach your real estate goals by setting some clear resolutions you can keep. We have 5 ideas for New Year's resolutions you can make to stay on track for your goals this year. Whether it's preparing your home for sale, getting financially ready to buy something, or finding your dream home for sale in Texas Hill Country, these tips can help you get ready for your next step. 

Contact us any time to learn more about buying a home in Texas Hill Country, and keep reading for tips to get you ready for the New Year.

Consider adding one of these 5 goals to your New Year's resolution list for 2024 to help reach your real estate goals. 

1. Prepare financially to qualify for a mortgage

If there are any real estate purchase on the horizon for you, it might be a good idea to make sure you are as financially healthy as can be. Setting yourself up to easily qualify for a mortgage is a smart choice that really has no downside. Boosting your credit score and making sure you are on top of your DTI will benefit you even if you don't end up buying something when you expect. 

Here are some tasks you can tackle to set yourself up for success in this area:

  • Set up automatic payments with any debt to make sure you are not getting unnecessary dings to your credit because of late payments
  • Ask for a credit limit increase on your accounts to improve your utilization rate immediately
  • Take the time to dispute any error on your credit report
  • Calculate your DTI, and if it is higher than you want it to be look for creative ways to quickly pay off debts with a higher payment

2. Boost your property value with a home improvement project

Whether selling your home is on your to do list in 2024 or not, focusing on home improvements that will boost your property value is a great idea. Home improvement projects that increase your home's value are going to put you in a better position when you sell, whether it's now or in ten years, and in the mean time give your more home equity. That equity can be access through refinancing, HELOCs, or HELs to be leveraged toward other plans.

3. Invest in a vacation home

Speaking of other plans, have you considered investing in a vacation home? Not only can this be a huge benefit personally, but it's a great way to purchase an asset you can enjoy now while it appreciates for your future benefit. Consider whether buying a lake house or cozy cabin might be the right move for you in 2024. 

4. Buy an income property

If investing in a personal vacation home doesn't seem like quite the right fit, what about an income property? You might even buy something that is a little bit of both. Use the property for your personal vacations whenever you choose, and then list it as a short term vacation rental when you're in your primary home. This can offset the ongoing expenses and monthly mortgage payments, while still allowing you to own a vacation home.

5. Get your home ready to sell

Selling your home can be a complicated process with a long to-do list. Depending on the condition of your home, you may have a lot or a little to do to get it ready to sell. If you plan to sell your home in Texas Hill Country in 2024, start preparing now to let your home shine. 

This might include beginning the decluttering process now, starting to eliminate things you no longer need that will make staging and showing your home more challenging. You may also notice a list of small home projects that should be done, or have a list of tasks to improve your curb appeal. If you're not sure what needs to be done, we are always happy to help. 

Ready to take the next step on one of your real estate goals? We are here to help, so contact us any time.

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