How to Get a Credit Score of 800 or Higher

Do you want to reach a credit score of 800 or higher? I’ve got six tips to help you reach that goal.

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When it comes to credit scores, it’s quite an achievement to reach one above 800.

Today, I’d like to give you six tips on how to reach this impressive score.

1. Always make payments on time. Whatever the bill is, paying things off on time will show that you are responsible and will help bolster your score.

2. Keep your account balances below 10%. To reach 800, keeping your account balances as low as possible will be a great help.

3. Limit how often you apply for different types of credit. Stacking up credit won’t make a positive impression on lenders.

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If you are patient and work hard at improving your credit, you’ll reach 800 before you know it.

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4. Diversify the ways you’re building credit. While you shouldn’t take on more than you can handle, this can be a good way to improve your score.

5. Commit to your credit. Building a good credit score isn’t an overnight process. Plan on having lines of credit open for, ideally, around 10 years. This will show you are reliable in a long-term sense.

6. Be consistent and patient. Like I said in the last point, it takes time to build up credit. If you are patient and work hard at improving your credit, you’ll reach 800 before you know it.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Homeowners: Beware of These 6 Costly Mistakes

There are certain, costly mistakes that all homeowners should avoid. Let’s take a look at the top six of these mistakes.

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When it comes to homeownership, there are six costly mistakes that people tend to make.

1. Going with the lowest bid for home repairs. Of course, cost is a factor where home repairs, maintenance, or upgrades are concerned, but the main focus should actually be on value. Look at reviews, talk to the professionals you might be working with, and ask for referrals from people you know can provide credible recommendations.

2. Making improvements without checking the ROI (return on investment). I’ve discussed this subject in a previous video, but it’s important to reiterate it. When you make improvements or upgrades to your home, you should check what kind of return they will actually bring when it comes time to sell. 

3. Going on a furnishing spree. When people first purchase a home, they sometimes become overzealous in their efforts to furnish the space. They get excited and end up purchasing more furniture than the home can hold. Sometimes, less is more.

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Cost is certainly a factor where home repairs, maintenance, or upgrades are concerned, but the main focus should actually be on value.

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4. Throwing away receipts from work done on the home. Receipts are a record of what you’ve done to the home, so it’s important to keep track of them. If you want to sell or refinance the home, these receipts will serve as a kind of report card. Also, these receipts provide proof of work done to the home in the event that an issue arises down the line.

5. Remodeling without doing research. This point is similar to the second one I listed, but remodeling is a much bigger undertaking and therefore demands a greater degree of careful consideration.

6. Buying cheap tools. I get it, you’ve just spent a good amount of money buying a new home. But when things eventually go wrong, it will be important for you to have high-quality tools available.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Which Home Improvements Will Add the Most Value?

Do you plan on selling your home? If so, there are six tips you can use to add more value to your listing.

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If you plan on listing your property, there are six home improvements that will bring you the biggest return.

1. Make cosmetic updates to your bathrooms. This has been proven to bring an approximately 102% return on your investment.

2. Work on your landscaping. First impressions matter, and the landscaping around your property will serve as a buyer’s first impression. This improvement can bring a 100% return on investment.

3. Make cosmetic updates to your kitchen. Like bathrooms, kitchens are a huge selling point. You don’t need to overhaul the entire room, but strategic improvements can bring you around a 98% return on investment.

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First impressions matter, and the landscaping around your property will serve as a buyer’s first impression.

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4. Improve your deck or patio. Especially in the summer months, many people like to sit outdoors and enjoy the weather. Cleaning and repairing your deck or patio can bring about a 91% return on your investment.

5. Remodel your basement. This is a slightly bigger project, but it has been shown to typically bring around a 90% return on investment.

6. Replace your windows. Buyers don’t want to have to worry about these details when they purchase a home. So, this relatively simple improvement can often bring around an 89% return on your investment.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.