Thinking About Selling? Five Ways to Raise the Value of Your Home

A seller may be able to boost the value of their home by an additional 12 percent, with just a few smart pre-listing repairs, according to a new survey of 300 residential real estate professionals by the Consumer Reports National Research Center. On a median, single-family home priced at $205,000, that could be a potential gain of $24,600.

“You don’t have to spend a ton of money to increase the value of your home,” says Dan DiClerico, senior editor for Consumer Reports. “Some simple, inexpensive fixes throughout the house can make it more appealing to potential buyers.”

Here are some of the fixes that the Consumer Reports survey of real estate professionals uncovered as being the most important

1. Declutter

Cost range: $0 (do-it-yourself) to $2,500 (pro)

Potential return: 3% to 5%

Clear away any clutter and depersonalize the space as much as possible.

2. Makeover the kitchen

Cost range: $300 to $5,000

Potential return: 3% to 7%

The kitchen was rated as the most important room to have in top shape before selling, according to the survey. Real estate professionals recommend focusing on minor repairs that center on the function of the kitchen first, such as repairing leaky faucets, loose light fixtures, or blemishes on the countertop. Then, they recommend small enhancements, such as painting the walls, updating the cabinet hardware, adding new curtains, or light fixtures.

3. Freshen up the bathroom

Cost range: $300 to $1,000

Potential return: 2% to 3%

Make simple improvements, such as caulking the tub or re-grouting the floor or adding new bathroom fixtures to brighten up the space. Updating the mirror and lighting also can have a big impact, the real estate professionals surveyed said.

4. Paint

Cost range: $100 (do-it-yourself) to $1,000 (pro)

Potential return: 1% to 3%

Sixteen percent of the real estate professionals surveyed said that interior painting is an important part in bringing about a sale of a home. But the seller likely doesn’t need the entire house repainted, but maybe just a redo of one or two rooms to curb costs. The two prime candidates for being repainted: Kitchens and bathrooms. Paint in whites and off-whites and a neutral palette – such as grays and beiges — help buyers focus on the home’s features more than be distracted by bright colors, agents note.

5. Exterior touch ups

Cost range: $150 to $7,500

Potential return: 2% to 5%

Agents recommend that their clients concentrate on basic maintenance first, such as to mowing the lawn, trimming overgrown shrubs, and applying a fresh layer of mulch to the garden beds. They also recommend making any minor repairs, such as replacing cracked siding boards or repointing brick walls. The real estate professionals also recommended taking careful note of any repairs needed with the roof: 31 percent of agents surveyed said the roof is one of the most important parts of the home to have in good shape

Source: “Top 5 Ways to Boost the Value of Your Home,” Consumer Reports (Jan. 29, 2015)

8 Tips for Adding Curb Appeal

curb appeal                  A Fantastic Article from House Logic:

By: Pat Curry

Here are eight ways to help your home put its best face forward.

Homes with high curb appeal command higher prices and take less time to sell. We’re not talking about replacing vinyl siding with redwood siding; we’re talking about maintenance and beautifying tasks you’d like to live with anyway.

The way your house looks from the street — attractively landscaped and well-maintained — can add thousands to its value and cut the time it takes to sell. But which projects pump up curb appeal most? Some spit and polish goes a long way, and so does a dose of color.

Related: Gorgeous Landscaping for Your House Means More Than Just Looks

Tip #1: Wash Your House’s Face

Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the outside of your house. REALTORS® say washing a house can add $10,000 to $15,000 to the sale prices of some houses.

A bucket of soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto your wood, vinyl, metal, stucco, brick, and fiber cement siding. Power washers (rental: $75 per day) can reveal the true color of your flagstone walkways.

Wash your windows inside and out, swipe cobwebs from eaves, and hose down downspouts. Don’t forget your garage door, which was once bright white. If you can’t spray off the dirt, scrub it off with a solution of 1/2 cup trisodium phosphate — TSP, available at grocery stores, hardware stores, and home improvement centers — dissolved in 1 gallon of water.

You and a friend can make your house sparkle in a few weekends. A professional cleaning crew will cost hundreds — depending on the size of the house and number of windows — but will finish in a couple of days.

Tip #2: Freshen the Paint Job

The most commonly offered curb appeal advice from real estate pros and appraisers is to give the exterior of your home a good paint job. Buyers will instantly notice it, and appraisers will value it.
 
Of course, painting is an expensive and time-consuming facelift. To paint a 3,000-square-foot home, figure on spending $375 to $600 on paint; $1,500 to $3,000 on labor.

Your best bet is to match the paint you already have: Scrape off a little and ask your local paint store to match it. Resist the urge to make a statement with color. An appraiser will mark down the value of a house that’s painted a wildly different color from its competition.

Tip #3: Regard the Roof

The condition of your roof is one of the first things buyers notice and appraisers assess. Missing, curled, or faded shingles add nothing to the look or value of your house. If your neighbors have maintained or replaced their roofs, yours will look especially shabby.

You can pay for roof repairs now, or pay for them later in a lower appraisal; appraisers will mark down the value by the cost of the repair. According to “Remodeling” magazine’s 2015 “Cost vs. Value Report,” the average cost of a new asphalt shingle roof is about $19,500.

Some tired roofs look a lot better after you remove 25 years of dirt, moss, lichens, and algae. Don’t try cleaning your roof yourself: call a professional with the right tools and technique to clean it without damaging it. A 2,000-square-foot roof will take a day and $400 to $600 to clean professionally.

Tip #4: Neaten the Yard

A well-manicured lawn, fresh mulch, and pruned shrubs boost the curb appeal of any home.

Replace overgrown bushes with leafy plants and colorful annuals. Surround bushes and trees with dark or reddish-brown bark mulch, which gives a rich feel to the yard. Put a crisp edge on garden beds, pull weeds and invasive vines, and plant a few geraniums in pots.

Green up your grass with lawn food and water. Cover bare spots with seeds and sod, get rid of crab grass, and mow regularly.

Tip #5: Add a Color Splash

Even a little color attracts and pleases the eye of would-be buyers.

Plant a tulip border in the fall that will bloom in the spring. Dig a flowerbed by the mailbox and plant some pansies. Place a brightly colored bench or Adirondack chair on the front porch. Get a little daring, and paint the front door red or blue.

These colorful touches won’t add to the value of our house: Appraisers don’t give you extra points for a blue bench. But beautiful colors enhance curb appeal and help your house to sell faster.

Related: Colorful Plants with Curb Appeal

Tip #6: Glam Your Mailbox

An upscale mailbox, architectural house numbers, or address plaques can make your house stand out.

High-style die cast aluminum mailboxes range from $100 to $350. You can pick up a handsome, hand-painted mailbox for about $50. If you don’t buy new, at least give your old mailbox a facelift with paint and new house numbers.

These days, your local home improvement center or hardware stores has an impressive selection of decorative numbers. Architectural address plaques, which you tack to the house or plant in the yard, typically range from $80 to $200. Brass house numbers range from $3 to $11 each, depending on size and style.

Related: 11 Ways to Create a Welcoming Front Entrance for Under $100

Tip #7: Fence Yourself In

A picket fence with a garden gate to frame the yard is an asset. Not only does it add visual punch to your property, appraisers will give extra value to a fence in good condition, although it has more impact in a family-oriented neighborhood than an upscale retirement community.

Expect to pay $2,000 to $3,500 for a professionally installed gated picket fence 3 feet high and 100 feet long.

If you already have a fence, make sure it’s clean and in good condition. Replace broken gates and tighten loose latches.

Tip #8: Maintenance is a Must

Nothing looks worse from the curb — and sets off subconscious alarms — like hanging gutters, missing bricks from the front steps, or peeling paint. Not only can these deferred maintenance items damage your home, but they can decrease the value of your house by 10%.

Here are some maintenance chores that will dramatically help the look of your house:

  • Refasten sagging gutters.
  • Repoint bricks that have lost their mortar.
  • Reseal cracked asphalt.
  • Straighten shutters.
  • Replace cracked windows

Before You Put Your Home on The Market

Thinking about selling your home?  Here a 5 things to do before the for sale sign goes in the front yard.

1.  Be proactive and get a pre-inspection.  The home inspector will be able to  spot areas that stand out to potential buyers as problems.  With a pre-inspection, you will be able to make repairs or understand your need to, before the home is on the market.

2.  Organize and clean.  Get rid of the clutter, pack up your least used items, clothes you are not wearing, toys, and family portraits.  Store items off site or in boxes that are neatly stacked in the garage.  Clean, clean and clean.  Windows, carpets, walls and light fixtures. A fresh coat of paint can work magic.

3.  Maximize your curb appeal.  Drive by your own house.  What do you see?  Does your lawn and landscaping look  cared for and tidy?  Could you use some bright flowers or plants to frame the entrance?  Is your front door clean and the entry welcoming?

4.  Find your warranties.   Get all your manuals, warranties and guarantees for the furnace, appliances and any other items that will remain with the house.  Putting them in a basket in the kitchen will give your potential buyer peace of mind.

5.  Get replacement estimates.  Do you have big ticket items that are worn out?  An unusual color of carpet?  Get estimates for  these items, even if you don’t plan on replacing them. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

 

What Does It Really Mean To Be “Represented” By A REALTOR®?


1.) Being Understood

Being Understood By Your Realtor or Real Estate AgentBeing “represented” by a REALTOR® means that you have an advocate who is putting themselves in your shoes. They will listen intently to you. They want as much information about your situation as possible so that they can best help you. They will do everything they can to earn your respect so that you will use them again in the future. Understanding our clients needs and wants is essential for success in this business.

We work hard to understand you and your needs. Each of my home buying and selling clients are different. Some may want to list their house for sale and need advice on staging and adding upgrades to get the best value. Others may be relocating due to military orders and need to find a house in the next 7 days. Everyone’s situation is different. They all require special attention to make sure that their needs are met and their expectations are exceeded. If your REALTOR® truly understands you and your situation, you are in good hands! Continue reading

5 Tips for Getting Your Home Ready for the Spring Real Estate Market

cute house graphicHistorically in most real estate markets, the spring is when it really begins to heat up. The spring real estate market generally yields the highest prices for those selling their home. This is only possible though if the proper preparations are taken before spring is upon us!

If you’re thinking of selling your home in the spring, you must know that even though you may receive top dollar for your home, the competition will also be the strongest. This means it’s absolutely critical that you’re prepared for the spring real estate market so you can knock out your competition. Check out these tips so that you’re prepared
Continue reading

As a Seller, Should You Get a Home Inspection?

downloadhome inspectionAs a seller, you need to know that nearly every buyer that makes an offer on your home, will make their offer contingent on a professional home inspection, that is satisfactory to them.

Having a home inspection prior to listing your home offers many benefits.  First, it identifies any major problems that could scare off a potential buyer, even if you are willing to fix the problem. Remember, the home inspection must be satisfactory to the buyer!  If you repair these problems, before you list your property, they become a non-issue.

Secondly, if you are unwilling or cannot make repairs, you can have the work bid, and price your home accordingly.  You will be in a better position to negotiate with the buyer, when you know what is wrong, disclose it to the buyer and know what the cost is to repair the problem.

You will have time to get bids.  Usually the home inspection contingency calls for you to respond to the buyers request for repairs in a short amount of time.  If you have already had your home inspected, you will have had time to get several bids for the repairs. This will give you a better idea of your net proceeds, so you can budget for your upcoming move or purchase of your new home.

%d bloggers like this: