Window to a Sale

QUESTION:

We are considering selling our home within the next two years. The existing double-hung windows need to be re-glazed and should really be replaced with energy-efficient windows. Knowing we will not be in this house long term, should we replace the windows now or let the next owner's put in what they want?

ANSWER:

The real answer has to do with other sellers. What does it take to quickly market a home in your community for a good price? Are new windows expected? Or do homes readily sell with the windows they have?

Go to local open houses and see what the potential competition is like. And speak with local brokers. You'll likely find three strategic choices:

1. Do nothing because it will not impact your sale prospects.

2. Get new windows because it will raise the value of your home, cut energy costs and make the property more competitive when you sell.

3. Offer the home for sale as-is. If it does not sell quickly then market it with a $5,000 credit (or whatever the right number is) for new windows.

Speak with local brokers for specifics.

QUESTION:

I have a 572 credit score. I have been approved for a mobile home mortgage - except for my low credit score. What can I do?

ANSWER:

Don't buy at this time. Even if you were to somehow get a loan the interest rate would be steep and a high monthly cost would not be good for your financial situation. The better alternative is to pay down bills, make sure all monthly payments are made in full and on time, do not borrow more on credit cards and build up your credit profile. You will then be able to improve your credit and thus qualify for financing at a better rate.

E-mail peter@ctwfeatures.com. Due to volume, not all questions may be answered.