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Real Estate Agents questions, answered by experts

While it's smart to save up about 25 percent of the price of a home—to cover the down payment and closing costs—many loans require between less than 3% down to qualify. In either case, you'll need between 3 and 6 percent for the closing and moving costs as well as a strong financial history for mortgage approval.

Yes, gas fireplaces can increase your home's value by as much as 12%. They are a sought-after feature because they burn cleaner, provide more warmth, and are more convenient than wood-burning fireplaces. Modern gas inserts can also provide the traditional aesthetic appeal that buyers like. To ensure the highest return on investment, perform regular maintenance and schedule annual professional inspections.

Installing a flagpole can improve your home’s curb appeal, so it will often have a modest positive impact on your property value. You’ll see a much larger bump in property value if you install a custom wooden flagpole than you would if you install a standard aluminum pole. Adding lighting to your flagpole will also have a positive impact on home value, as will trimming trees away from the new lawn addition.

Insurance companies weigh the amount of potential liabilities on your property to increase (or decrease) the cost of your home insurance. They will use several factors to decide if there are more chances for peril or injury to take place at your home. These factors include your location (whether you live in an area with high risk for natural disasters), the age and condition of your home, and whether you have any “attractive nuisances”—features that both increase the aesthetic of your home and potential for injury—like a pool or treehouse. 

If the appraised value comes in lower than an offer, a buyer will normally be able to back out because a low appraisal can prevent a mortgage from going to underwriting. The buyer can also try to negotiate for a lower sale price or offer to put down more cash to bridge the appraisal gap.

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