We are smack dab in the middle of home buying season, and while some properties are off the market before they’re even on it, others haven’t had such luck. A great way to boost your home’s selling power is to make small and affordable updates throughout the home. These quick updates and fixes won’t break the bank or a budget, and they will help make your home more inviting to potential buyers and a potential sale.
Spruce Up the Front Door
The front door is one of the first things potential buyers see when viewing your home. Spruce up the front door by touching up paint (either paint over chipped or fading paint, or change the color completely), adding a kick plate, changing out the hardware, or you can replace the door completely. A new front door can add energy efficiency and additional security if you choose a metal door. Making the front door pop not only adds a special touch to your curb appeal, but potential buyers definitely notice a door that’s been taken care of.
Freshen Up the Kitchen
Kitchens appeal to so many buyers. If you don’t have the budget or time to overhaul your kitchen, don’t panic. If you have nice wood cabinets and don’t have the budget to update them, consider adding a coat of paint to freshen them up. You can also add new hardware (knobs, handles or pulls) to help give cabinets a younger look. You can also change out any outdated countertops, and adding a new faucet to the sink is another way to give a kitchen a new vibe. If you have the time and the budget, consider changing any flooring that is chipped, cracked or broken. Vinyl flooring is economical and affordable, and it’s available in a number of types and styles to suit any kitchen design.
Update Porch Columns
Porch columns are another item buyers see immediately; if you have columns that have chipped paint, are decaying, or don’t match the style of the home, consider updating or replacing them completely. Sand and paint over chips, or update the look with vinyl wraps. If you have the budget to replace the columns, consider fiberglass, which is weather resistant and helps support the weight of the porch roof.
Tidy Up a Bathroom
Bathrooms are another large selling feature of properties, and outdated bathrooms are a top sale killer. Update within reason of your budget and time: replacing the vanity, counter, sink and faucet can be a quick fix that is also budget friendly (some home improvement stores have entire kits available for this). If this doesn’t fit your budget, consider painting the vanity and replacing the hardware and faucet. Other updates that can be done in the bathroom: change out a toilet (you can usually find energy efficient toilets at a local big box store for under $200), update a showerhead, and replace any vanity or overhead lighting for more modern and energy efficient options.
Update a Staircase
Many staircases are located just as you enter a home, which means they are a focal point and something buyers look at and judge the moment they walk into a property. If your staircase has seen better days, take the time to do some small updates. Fix any broken or loose steps and evaluate the railing; refinish a wood staircase, replace a broken railing, change outdated balusters, and, if the stairs are carpeted, clean or replace the carpet.
Jazz Up a Fireplace
Whether it’s gas or wood, many homes have fireplaces, and many buyers love them for their purpose and as focal points. An updated fireplace can say loads about your home, and a great looking fireplace can help a sale. You can paint and transform outdated brick or add ceramic tiles to add color. You also have the option of adding budget-friendly artificial stone veneer or natural stone (if you have the time and money). Mantels are a large part of fireplaces – add, update or replace a mantel with wood, stone or marble. An updated fireplace and mantel can help any home sale.
Light Up the Yard
Lighting can take the exterior of a home from drab to fab. Dark homes don’t pop to buyers, and outdoor lighting can add a ton of appeal. Update any outdated outdoor lighting fixtures, especially those that no longer work or are broken. If you have some extra money to put toward projects, consider adding additional outdoor lighting in the way of a lamppost or path lights, and if you live in a sunny climate you also have the option of solar lights.
Organize a Closet
Buyers will go through cupboards and closets, and a cramped bedroom closet can be an issue with some buyers. A quick and budget-friendly fix is a closet organizer. Organizers come in a variety of options, from wood and plastic-laminate to wire, and most are DIY, which cuts down any installation costs. If your closets are stuffed or poorly organized, buyers will see this and could potentially be turned off by it.
Make an Attic More Usable
Most homes have some kind of attic, whether it be a small crawlspace that’s barely accessible or a large attic area accessed by a staircase. Make sure your attic area is accessible: if it’s not, add a ladder and insulate the door for better energy efficiency. If your attic area is just studs, add a plywood floor to make it more accessible and ready for storage. By adding a couple extra things to an attic area, you’re adding usable space and making your home more marketable to potential buyers.
These fixes are relatively easy, and most shouldn’t break the bank. If you can afford to do some, go for it, but do what is in reason of your time and budget. You want to sell your house, and you don’t want to spend a fortune updating it. Small fixes can be the ticket to a quick sell, or they can help a home that’s been sitting for a while finally get some movement.
Taken from Real Estate Advisor – August 2015
The inspection can be your chance to learn about your potential home and discover possible trouble spots.
Many buyers assume that the home inspection is their opportunity to pick the home apart and find its flaws. While the inspection often results in a second round of negotiations, buyers should view the inspection as the introduction to their potential home. Here are four tips for getting the most from your home inspection.
Enlist a pro
It’s best to use a well-known, local inspector — preferably someone your agent refers. If your Uncle Bob is a contractor, it may seem like a good idea to bring him instead. But you need a licensed inspector who is familiar with the area, and different types of homes and systems.
An impartial third party, the inspector should be a voice or reason, not an alarmist or overly optimistic. They are liable for inspecting to the best of their ability.
Bring a list of your concerns and questions about the house. During the viewings, you probably had questions about some aspects of the construction. Write down your concerns.
If the seller provided property disclosures or you’ve received documents about the property from the local building department, bring them to the inspection. The inspector normally starts off with a discussion about what he seeks to accomplish, then asks what questions or concerns you have. Lay them out at the beginning so that the inspector can keep them in mind as he goes through the home.
Walk around with the inspector
Some inspectors prefer to work independently, but most will give you the opportunity to walk around with them. This is your chance to learn about your home. You want to know and see firsthand where your water heater and electrical panel are. It’s easier to understand if you are there, in front of the inspector when he points something out, than to hear about it at the end.
As a homeowner, you will need to know all about your systems because there won’t be a landlord to call when something goes awry.
Use the inspection to compile a maintenance plan
Parts of the home often break down or fall apart because nobody properly maintained them. Changing the filter on the HVAC system, replacing old plumbing valves or monitoring leaks will help keep things working. Nobody wants a broken boiler in the middle of January, or their water heater to break mid-week.
The inspection is a great way to learn about your home and what it will need going forward. If the boiler is near the end of its life, find out what you need to do next winter to make sure it lasts the season. Make a financial plan to replace it in the future.
Home inspection is one of the biggest components of the real estate transaction. You should take it seriously, and come prepared to ask questions and learn about the home.
Shared from Zillow Blog
The real estate market has rebounded. So much so that there is a short supply of available homes for sale on the market. Especially for lower priced homes.
How does real estate help our economy?
The increased sales mean increased sales prices. Increased sales prices mean increased values for homes. Even those who aren’t selling their homes will realize the increased values. This in turn boosts consumer confidence and consumer spending.
NAR compiled data from research conducted by the Bureau of Economic Analysis & Macroeconomic Advisors on the economic impact of a home purchase.
After reviewing the data, they concluded that the total economic impact of a typical home sale in the United States is an astonishing $52,205.
The more homes that are sold the better the economy. The better the economy the better it is for everyone.
How does this help you?
Homes listed in todays market go fast! And with mortgage rates still low this may be the time to upgrade your current home to a bigger house or one in a nicer location.
Give us a call and we will happy to show you what your options are.
There has been a lot of discussion about how difficult it is to get a home mortgage in this market. There is no doubt that the process is not as easy as it was eight to ten years ago and that’s probably good news. However, it does appear that availability to mortgage money is increasing with each passing day.
The Mortgage Bankers’ Association publishes the Mortgage Credit Availability Index(MCAI). According to their site the index is “a summary measure which indicates the availability of mortgage credit at a point in time”. As we can see from the graph below, mortgage availability has been increasing dramatically over the last six months.
Accompanying the latest index was this comment from Mike Fratantoni, MBA’s Chief Economist:
“A number of factors contributed to a loosening of credit in March: Freddie Mac’s introduction of their 97 LTV program (Fannie Mae’s was implemented in December) [and the] additional loosening of parameters on jumbo loan programs… Although credit remains tight by historical standards, this increase in availability, coupled with low rates and job market strength, should lead to stronger home purchase activity this spring.”
If you have remained on the sidelines regarding homeownership because you were concerned about your ability to qualify for a mortgage, it may be time to get into the game.