BOB UPTON, Realtor®, CBR's Blog
Every homeowner seems to come to a point where they wonder if it’s time to sell their home or renovate the one that they currently have. Whether or not you decide to sell immediately, you can start with some renovations to your home that will offer you a big return on your investments and more comfort. Certain renovation projects are more beneficial than others. We’ll go over some of the best projects that you can take on in your home to add value and comfort to your home.
Curb Appeal Pays
While you may turn to the inside of your home to make improvements first, it’s actually more beneficial to update the outside of your home before you even begin to tackle the inside. Curb appeal can boost the value of your home significantly.
Check Your Insulation
You can improve the overall energy efficiency of your home by sealing unattended places in the home. Add insulation and sealing right in your attic. This helps to save on energy costs the whole year through. New insulation brings quite a return on value in your home.
Make Your Spaces Peaceful And Open
If you have plenty of space available in the house, you’ll get a big return on your investment. Add a bedroom to the home if you are able. Expand on the master bedroom to include large closets along with a master bathroom. Some of these renovations can become a bit of an expense, but you’ll be happy you did them when you get a large return on your investment.
Add A Deck
Adding an outdoor space to enjoy will not only give you financial returns, it will give you an increased sense of happiness as well. You’ll have a new outdoor space that you’ll be able to enjoy for a good portion of the year.
Sometimes even small improvements can add returns and more appeal to your home. Does your kitchen need new tile? Could your dishwasher use an upgrade? Maybe the bathroom counter can be replaced. Anything small around your home that’s upgraded can add up. The kitchen and the bathroom are the two rooms of the home that people most desire to have updated. Doing any and all projects in these rooms can have a really big impact on the value of your property.
After The Renovations
After you complete the desired renovations in your home, live in it for awhile. If you’re still itching to move on from your property, make an appointment with your realtor. There is nothing wasted in doing renovations to your home whether you decide to stay on the property or move on.
A home appraisal often helps a property seller determine how to price his or her residence. As such, an appraisal is important. And with a great appraisal, a seller may boost the likelihood of earning top dollar for his or her house.
Ultimately, there are many reasons to trust the final results of a house appraisal, and these reasons include:
1. A home appraisal is conducted by a property expert.
An expert home appraiser will allocate significant time and resources to complete his or her report. This professional also will perform a home analysis as part of his or her assessment. That way, a home appraiser can provide an accurate property valuation.
As you consider home appraisers, you may want to search for professionals with comprehensive experience. By doing so, you can find a home appraiser who knows the ins and outs of evaluating properties.
2. A home appraisal is based on your home's condition and real estate market data.
Although many home sellers believe an appraisal's property valuation is based solely on the age and condition of a house, other factors come into play. In fact, a home appraiser generally evaluates the current state of the housing market, the prices of comparable houses that recently sold and other real estate market data to determine the optimal property valuation.
Of course, it typically is a good idea to perform myriad property upgrades before an appraisal is completed. This may help you improve your chances of receiving the best-possible property valuation.
3. A home appraisal provides home selling insights you may struggle to obtain elsewhere.
A home seller won't have to wait too long to receive an appraisal report, as a home appraiser usually can provide this report over the course of a few days. Meanwhile, the report includes a property valuation and other home insights that a seller may be unable to obtain elsewhere. And as a result, the report may prove to be exceedingly valuable, particularly for a seller who wants to maximize the value of his or her house.
When it comes to conducting a home appraisal, you may want to consult with a real estate agent. This housing market professional can explain how a home appraisal works and answer any concerns or questions that you may have. Plus, a real estate agent may be able to put you in touch with the top-rated home appraisers in your city or town.
Let's not forget about the assistance that a real estate agent can provide throughout the house selling journey, either. A real estate agent will help you list your home and promote it to prospective buyers. And if you receive an offer to purchase your residence, a real estate agent can offer a recommendation about how to proceed with this homebuying proposal.
Ready to add your residence to the real estate market? Perform a house appraisal, and you can move one step closer to establishing a competitive initial asking price for your home.
As you get ready to add your house to the real estate market, you likely will consider high and low initial asking prices. However, it is important to remember that no two residences are exactly alike. And much in the same vein, the initial asking price for your home may vary from that of a similar residence based on your house's condition, age and other factors.
Ultimately, a diligent home seller will allocate the necessary time and resources to determine a competitive initial asking price for his or her residence. This seller will be able to establish an initial home asking price that hits the mark with buyers, and as a result, stir up plenty of interest in his or her house.
Determining the ideal initial home asking price may seem tough at first. Fortunately, we're here to help you set a competitive price for your residence, regardless of the current housing market's conditions.
Now, let's take a look at three tips to help you establish the ideal initial asking price for your residence.
1. Assess Your Home
The present condition of your house may have a major impact on its value. Thus, you should perform a home inspection before you list your house to identify any underlying problems and address such issues.
A home inspection is generally requested by a buyer after a seller accepts an offer on a residence. Conversely, a seller who wants to go above and beyond the call of duty may perform an inspection to take a proactive approach to home improvement projects. This approach may help a seller mitigate potential home problems before they are discovered later in the home selling process.
Thanks to a home inspection, a seller can establish home improvement priorities. Then, this seller can perform myriad home improvements and move closer to maximizing the value of his or her residence.
2. Evaluate the Housing Market
Operating in a seller's market is far different from selling a house in a buyer's market. If you review the real estate market, you can gain the insights you need to establish a competitive price for your home.
Take a look at the prices of houses in your area that are similar to your own residence. This information will enable you to understand the price range for comparable houses in your city or town.
Also, evaluate the prices of recently sold residences in your area. This housing sector data will allow you to determine whether you are operating in a buyer's or seller's market.
3. Collaborate with a Real Estate Agent
A real estate agent knows the ins and outs of selling a home in any housing market. He or she can offer a wide assortment of housing market data. Perhaps most important, a real estate agent will make it simple for you to establish a competitive price for your residence and reap the benefits of a fast, profitable home selling experience.
Want to add your house to the real estate market? Use the aforementioned tips, and you should have no trouble setting a competitive initial asking price for your house.
A home appraisal enables a seller to learn about the value of his or her house relative to the current housing market. As such, an appraisal represents an important opportunity, particularly for a seller who wants to maximize the profits from his or her home sale.
Ultimately, it helps to plan ahead for a home appraisal. If you prepare for an appraisal, you can use the appraisal results to achieve your home selling goals in no time at all.
Let's take a look at three tips to help you get ready to perform a home appraisal.
1. Learn About Your Home's Strengths and Weaknesses
What you initially paid for your house is unlikely to match the current value of your residence. Fortunately, if you understand your house's strengths and weaknesses, you can prioritize home improvements and complete these upgrades. As a result, you may be able to boost your chances of receiving a favorable property valuation during a home appraisal.
Also, it may be beneficial to conduct a home inspection before you schedule an appraisal. That way, you can use the inspection results to determine which areas of your house need to be upgraded.
2. Assess the Housing Market
The present real estate sector will impact the valuation of your house. To establish realistic expectations for a home appraisal, it often helps to analyze the current housing market.
If homes are selling quickly, this likely indicates that a seller's market is in place. This market favors sellers and may enable you to receive plenty of offers if you establish a competitive price for your home.
Comparatively, if homes linger on the real estate market for many days, weeks or months, a buyer's market may be in place. In this market, you may need to set an aggressive price to help your residence stand out to potential buyers.
3. Consult with a Real Estate Agent
A home appraisal is an important part of the home selling journey. And if you collaborate with a real estate agent, you can work with a home selling expert who can help you maximize your property valuation during an appraisal.
With a real estate agent at your side, you can receive comprehensive support throughout the home selling journey. A real estate agent can put you in touch with the top home appraisers in your city or town. Furthermore, a real estate agent can help you determine how to price your house to ensure you can stir up significant interest in your residence.
A real estate agent also is happy to help you review any offers on your home. If you're unsure about whether to accept, reject or counter a homebuying proposal, a real estate agent can help you weigh the pros and cons of each option.
Ready to conduct a home appraisal? Use the aforementioned tips, and you can perform a home appraisal before you add your residence to the housing market.
If you intend to sell your house, you'll need to put together an engaging home listing. By doing so, you can increase the likelihood that homebuyers will want to check out your residence in-person – something that eventually may lead to a home sale.
It is important to do everything possible to differentiate your home listing from others. This will boost your chances of a fast home sale, along with raise the possibility of receiving a home offer that matches or exceeds your initial expectations.
Ultimately, there are several things that separate an ordinary home listing from an exceptional one, and these include:
1. Home Location
All home listings include details about a home's address. However, only the best home listings highlight information about where a residence is located relative to popular landmarks and attractions.
For example, if your house is located near some of the state's top schools, you may want to include information in your home listing about your home's proximity to these high-quality schools. With this information, your home listing may stand out to parents.
On the other hand, if your residence is just minutes from an amusement park, gym or other popular local attractions, you should include this information in your listing as well.
2. Home Upgrades
If you upgraded your house's heating system or installed new windows only a few years ago, it may be worthwhile to incorporate this information into your home listing.
Remember, as a home seller, you'll want to provide homebuyers with as much information about your residence as you can. And if you include details about assorted home upgrades, you can show homebuyers that you've allocated significant time and resources to improve your residence.
3. Home Photographs
When it comes to home photographs, there is no need to settle for "basic" pictures. Instead, a home seller should look carefully at home photographs and incorporate only those that showcase the true beauty of a residence into a home listing.
In many instances, a homebuyer will examine home photographs before he or she decides whether to continue to read a home listing. If a homebuyer is turned off by home photos that make a residence look small or cramped, he or she may move on to other home listings.
For home sellers, it is paramount to clean and declutter a house before you take photos of it. This will ensure your residence looks pristine both inside and out and guarantees that your home photos can make a distinct impression on homebuyers who view your home listing.
Lastly, if you need help preparing a home listing, a real estate agent can provide expert assistance. This housing market professional can collaborate with you as you put together a home listing and offer plenty of tips and recommendations along the way.
Take the guesswork out of crafting an effective home listing – consider the aforementioned home listing items, and you can create a home listing that helps you stir up significant interest in your residence.