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Prepare Your Property Like A Pro And Boost Profits
The housing market is hot, and you've decided to list your home. But what, if any, improvements should you tackle before selling? Should you just leave it all to the new homeowner? There are two ways to look at pre-sale home improvements. You can either improve the curb appeal or the home's outward appearance with quick and often low-cost improvements, or you can make some higher-dollar changes with the goal of adding value to the home and increasing your asking price. The reality is that all houses benefit from a little "spiffing up" before being shown to buyers, and smart home sellers will take the time and effort to do so. If you are selling a home that requires a major repair for recent damages, consider contacting a public adjuster to determine if the loss is covered by insurance. If so, the resulting repairs could significantly boost your home's resale value at little or no cost to you. Learn more. View your home with a critical eye Great curb appeal with immaculate landscaping, fresh paint, tidy closets and cabinets, spotless windows and a clutter-free feeling are essential to make a home really stand out. Impressing potential buyers is often a one-shot deal, so take the time to make some minor improvements that can lead to a faster sale and a higher offer. Assume the role of a homebuyer. Give your home a critical look for dirt, flaws and cramped spaces. Then imagine the work ahead of you if you were to make this your new home. Think of your house as a commodity to be sold for top dollar, and you'll soon be eager to make needed improvements. Drive around and notice well-cared-for homes. Yards are groomed, paint is fresh and entrances are neat and welcoming. Then take an honest look at your home, and roll your sleeves up to tackle the tasks below: * Pressure-clean rust, mold and mildew off exterior walls, sidewalks, decks, the roof and the driveway. * Clean smudged windows and unclog gutters. * Sweep sidewalks and driveways - and keep them clean. * Edge sidewalks and remove weeds along the house and in the garden. * Mow the lawn regularly. * Trim back trees and shrubs that block the street view of your house for a more inviting appearance. * Rake and remove leaves regularly. * Trim tree limbs that are near or touching the roof. * If you lack outdoor lighting, add a front porch light fixture and keep it turned on. Buyers often cruise by after dark to check out homes. * Keep lights that are visible through front windows on for a warm appearance. * If it's in your budget, fresh exterior paint makes a house look like new. * An attractive front door, perhaps with leaded glass inserts, creates a great first impression. But if you can't afford a new door, replace worn handles and locks and apply a fresh coat of paint or stain. * Clean carpets to remove odors and stains Indoor re-dos 1. Every room, even the garage, should be spotless. Hiring a cleaning service is worth the minor investment if you are unable to give your home the once-over yourself. Clean major appliances, inside closets and do not forget to polish bathrooms. 2. Eliminate offensive odors - cigarette smoke and pet odor are permanent turnoffs and kill a sale. Send smokers outdoors, keep pets groomed and their bedding clean and out of the way and vacuum daily. 3. Make inexpensive repairs that greatly improve aesthetic appeal, such as repairing cracked grout, screwing in a loose shelf and replacing a cracked bath tile. 4. Remove clutter. Potential homebuyers can't envision themselves and their belongings in your home if they can't see past all your stuff. A rule of thumb is to eliminate at least one-third of your belongings from each room. If needed, invest in a storage space for your extraneous belongings while showing your home. Other clutter cutters: Store small kitchen appliances and other items off countertops and tables; Remove photographs and knick knacks from tables; and organize closets, pantry and cabinets. Tips for vacant homes Your home should be welcoming to buyers even if it is vacant. Keep your empty home inviting with the following tips: * Vacant homes accumulate stale or mildew-laden air. Leave the heat or air conditioning running (depending on the season) to cut down odors. Set up a few softly fragranced air fresheners. * Keep the lawn and landscaping groomed, even if you have to hire a service. * Put a few lights on a timer switch to come on throughout the day. Improvements that are worth your time While you don't want to take on a major renovation project that could cost thousands right before you sell creating chaos and delaying your listing date, you should examine the list of improvements you might have done if you weren't selling. Weigh whether it is worth your while - and the potential boost to your selling price - to go ahead with the improvements. Here are some tips to add value to your home: * Complete half-finished projects. No one will pay full price for a home that has half-painted rooms or a partially re-tiled bathroom. Now that you're selling, it's time to complete those projects you thought you could knock out yourself but never seem to have time to complete. * Focus on the kitchen. Kitchens, centrally located in many homes, are critical to most buyers. An outdated kitchen can lower the value of your home, and something as simple as repainting cabinets and changing hardware can provide a modern update that can increase your home's value. Add new cabinets and replace countertops and you could add thousands to your asking price. * Paint the interior. Whether you have just a few too many smudges and dings, or your color scheme is too "1980s," it can be well worth the dollar to transform interior walls with a few coats of neutral color. Get bids for the best deal and you'll be surprised by how much better your home looks. * Update or repair light fixtures. You can be sure that during a walk-through all lights will be switched on and questions will arise if a switch yields nothing but darkness. * Repair appliances. Repair any appliances listed with the home or you can expect to not get your full list price. Don't bother You might think adding a pool would increase your return on value but the truth is, most buyers aren't willing to give you the full price you paid for installation. Other major projects, such as adding a new story to your home, adding a master suite or installing carpeting may not give you the return at the sale that you were hoping for. Skip the project and let the buyer perform the projects he or she wants to do. If you need a new roof, you might consider splitting the cost with the buyer. Many buyers are willing to meet you half way on major repair projects, since they will be benefiting from the repairs for years to come. Ready, set, go! Whether you choose to make lower-cost improvements or higher-dollar renovations that can raise your home's asking price, it's a proven fact that real estate listings in great shape typically sell for more than those that are in only passable condition. Time and again, sellers who prep their homes for sale in advance reap the benefits with a faster sale and a higher sale price. Charles Warnock is Manager of Interactive Marketing at Homekeys, a provider of real estate and technology services in Miami, Florida. He writes frequently on the topics of real estate, finance, interactive marketing and business development. Visit http://www.homekeys.net and or contact charles at cwarnock@homekeys.net.
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Real Estate And The Cycle Seeking Alpha It is a good bet that any recession will have an effect on the real estate market.The housing market's fortunes are prey to the animal spirits of market partici. Where Real Estate Investors Should Look In 2019 Forbes Real estate professionals — and flippers in particular — spend a great deal of time analyzing the markets, but the only thing we really need to know is which way ... Northview Apartment Real Estate Investment Trust declares CAD 0.1358 dividend Seeking Alpha Northview Apartment Real Estate Investment Trust (NPRUF) declares CAD 0.1358/share monthly dividend, in line with previous. Forward yield 6.03% Payable ... In the squirrel world, prime real estate is determined by previous owner, study reveals Science Daily Researchers found that if a squirrel inherits territory from a male rather than a female, it will have about 1300 more cones in its midden. This stored energy will ... 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Google will spend $13 billion on U.S. real estate in 2019, expanding into Nevada, Ohio, Texas and Nebraska CNBC Google will expand into Nevada, Ohio, Texas and Nebraska for the first time, adding new data centers in those states and offices elsewhere. ‘Hanover 9’ land will generate $240K in real estate taxes for local municipalities Wilkes Barre Times-Leader Newly tallied Luzerne County assessed values shed light on what real estate taxes will be paid on a massive project site in Hanover Township and Nanticoke… Shorter high-speed rail dashes hopes of a real estate boom for Bakersfield Bakersfield Now BAKERSFIELD, Calif. (KBAK/KBFX) - Bakersfield was positioned to be the midway point on the high-speed rail route from San Francisco to Los Angeles. But the ... Sold: Search the latest Macon County real estate transfers Herald & Review Decatur. 1755 S. Baltimore Ave., $16,200, Citimortage Inc. to Rosalba E. Hernandez-Martinez. 40 E. Carroll Drive, $76,000, Tucker Property Management to ... Private Equity Likes the Look of Blackstone's Real Estate Model Bloomberg The investment giant turned to real estate, a market flush with deal flow and liquidity, and others are following. 10 Commercial Real Estate Systems That Can Help Your Business Forbes If you are looking to improve your processes, here are some CRE resources worth considering. Updated Syracuse.com real estate search: Oswego County Land Bank takes house Syracuse.com Syracuse.com has updated its search of the latest residential and commercial real estate sales in Onondaga, Oswego, Cayuga and Madison counties. House Hunting in … Romania The New York Times In the area around Bucharest, the real estate market is stabilizing after several years of price increases followed by a cool-down in demand. Growth In Life Sciences Innovation Triggers Demand For Real Estate Clusters Forbes The life sciences industry is taking off, and with life sciences innovation rising, so is demand for the space in which to innovate. West Coast real estate is now so expensive that married couples are moving in with multiple roommates MarketWatch The number of married couples living with roommates has doubled since 1995, new report finds. What This Millennial Real Estate Investor Did With $4,000 Changed His Life Forbes Find out how the advice and tips this millennial real estate investor has for others who wants to make millions as an investor. Some Real Estate Agents Taking Up Arms WJLA WASHINGTON (SBG) -- Realtors often go into houses they don't know, with people they've just met. Safety efforts have become a real focus, but the potential for ... Real estate agents taking up arms to protect themselves ktvo.com WASHINGTON (SBG) -- Realtors often go into houses they don't know, with people they've just met. Safety efforts have become a real focus, but the potential for ... 5 Reasons Why Real Estate ETFs Are Rock-Solid Now Yahoo Finance Real Estate ETFs are near a 52-week high. Let's see why. Real estate tech company Remine raises $30 million to grow MLS platform HousingWire Remine, a real estate tech company, announced this week that it raised $30 million to grow its data-focused MLS platform. Remine, which was honored last year ... Boyfriend arrested in death of Miami real estate exec Miami Herald The longtime boyfriend of a popular real estate executive found dead from an overdose in her Morningside home 18 months ago was arrested last week and ... Rodney Fong, San Francisco real estate operator, named chamber CEO San Francisco Chronicle The San Francisco Chamber of Commerce has named Rodney Fong as its new president and CEO. Fong, the longtime president of Fong Real Estate Co. and a ... Real Estate Transfers: Feb. 14, 2019 Suffolk Times Listings prepared for Times Review Media Group by Suffolk Research *Service*, dated Dec. 17-23, 2018. Real Estate Fresh Finds: Feb. 13 PoPville Real Estate *Fresh* Finds is a weekly selection of newly-listed properties in the District, brought to you by Real Living At Home. Featured Property of the Week: ... The Best Emerging Real Estate Markets In Europe For 2019 Forbes As Europe watches the clock tick down to Brexit in a mere six weeks time, all eyes are on the property markets in the major European cities. With companies ... The Green Rush: Real Estate Frenzy For Medical Marijuana Properties Traverse City Ticker The “green rush” is on – a mad race among prospective marijuana businesses that's having dramatic effects on the local commercial real estate market. Ocean County’s real estate values back to pre-Sandy normal Asbury Park Press TOMS RIVER - Ocean County's real estate values have returned to pre-superstorm Sandy assessments for the first time since the Oct. 29, 2012, disaster, ... Real Estate Is The New Gateway To The Ivy League For International Parents Forbes Gaining admission to the nation's most elite universities is only growing more competitive, as the number of qualified applicants, and the number of schools ... |
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