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Should You Fix Up Your House Before Listing Or Sell It As A Fixer Upper?

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If you’re thinking of selling your home, this is probably a question you’ve been asking yourself – and your real estate agent. There is no hard and fast answer; the route you go will depend on numerous factors, the most important of which are: the condition of your home, the strength of the market in your area, and the potential profit to be made both with and without updates. These tips will help you decide whether to sell now or later.

Consider your buyer

The words “fixer upper” might actually be a selling point for some buyers who perceive they’re getting a deal, who are specifically looking for something they can put their stamp on, or who just can’t afford to buy something turnkey. The marketing your agent does is key here so you don’t end up with nothing but unacceptable offers.

“In any marketing communications surrounding a fixer-upper, it’s important to remain focused on value,” said ExtraSpace. “Prospective homebuyers know that a fixer-upper will sell at a lower price point than newer or more modern homes on the market. But that doesn’t mean you need to accept a lowball offer. Instead, emphasize the home’s investment potential by reminding buyers of the future sale opportunities after the home has been remodeled.”

If your home needs A LOT of work and you can’t, or don’t want to, put the time, money, and effort into getting it in top condition, targeting investors could get it sold quickly. “A few years ago, a past client called to say her next-door neighbors needed to immediately sell their home. To say it needed work was an understatement,” said Sacramento-based real estate broker Elizabeth Weintraub on The Balance. “The home appeared inhabitable. It had holes in the walls all the way to the exterior and urine-soaked wood floors; most of the electrical didn’t work and the bathroom tub had fallen through the joists. All the faucets leaked and, in one bedroom, I found a pile of dead rats swept into a pile in the center of the floor. This was not a home that could be easily fixed up. Not even a coat of paint would have helped sell this place. We priced it low enough that it attracted multiple offers and sold with zero days on market. Only contractors and flippers made offers on this home.”

Since flipping is more popular than ever, a home that needs work – especially certain kinds of work – may be attractive enough to investors that you don’t have to do any work at all. “A good rule of thumb: If your home needs kitchen or bath remodels, a new roof, or foundation repairs, there’s an 80%-plus chance your buyer is going to be an investor,” Bruce Ailion, a broker and REALTOR(r) in Atlanta, said on Realtor.com.

Get an honest assessment – and be able to hear it

If you’ve lived in your home for quite some time and/or haven’t kept up with updates and repairs, your real estate agent’s assessment of its condition and the recommendations he or she makes to get it market-ready may be eye-opening. They may also make you angry. Try to listen and keep an open mind, even if you feel offended. In the end, you share the same goal, which is to get your home sold for the best possible price.

Be realistic on pricing

“Finding out your home’s value isn’t as simple as subtracting the cost of repairs from your home. You also need to factor in ‘aggravation costs,’ said Ailion. “In other words, turnkey homes often sell at a premium to traditional buyers because they don’t have to do any work. If your home needs some sprucing up, you’re likely going to have to incentivize buyers to dig in and get their hands dirty.”

It may be that fixing your home up makes the most sense because of the financial upside. In presenting you with comparables, your real estate agent should be able to show you other properties in your area in varying conditions (depending on the number of active listings or recently sold homes near you). This will help inform the pricing for your home and also give you some idea of how much you’d have to put into it to get top dollar. Now all you have to do is come up with the money!

Choose your updates wisely

A $30,000 kitchen renovation may not be in the budget and may not give you the return on investment you’re looking for, but there are smaller updates you can do to your kitchen to make it look fresh (and, you can use the same principles in other important areas, like bathrooms). Better Homes and Gardens has a great list of updates you can make for under $2,000, including hanging a pendant that “illuminates the sink area” and swapping out a tired sink for a “farmhouse sink (that) adds character to the space.” Also think about painting cabinets and installing new hardware, and, if you’re up to the task, adding an eye-catching backsplash.

Make necessary repairs

Investors aren’t expecting perfection, and their offers will be based on the condition of your home and the potential profit they can make once it’s fixed up. Non-investor types looking for a deal may not necessarily be scared off by a few cosmetic issues, but major repairs that are needed are another story. If you’re looking for the smartest place to put your pre-sale renovation dollars, this may be it.

“It might not be glamorous, but buyers are looking at big-ticket items like the age and condition of the roof, air conditioning and heating systems, water heater, electrical panel and pipes,” said Inman. “If any of these components are on their last leg, you might seriously need to consider replacing them as these items could factor into the kind of financing the buyer is able to obtain as well as insurability of the property.”

Original Blog: https://realtytimes.com/archives/item/1016869-20180426-should-you-fix-up-your-house-before-listing-or-sell-it-as-a-fixer-upper?rtmpage=

Ten Mistakes That Will Keep Your Home From Selling

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You need to get every advantage possible when you are selling your house. There are very few homes that can be magically market-ready without some help. It’s time to focus if your home requires more than just a little assistance. Listing your home in a bad condition will only lead to frustration. In this case, frustration is: Your home being on the market without any offers for months or an offensive, lowball offer.

Avoid listing your home with:

1. Excessive damage

You may have neglected to maintain the property, either because it was rented out and abused by frat boys or you simply didn’t care for it as much as you should. The buyers will not be interested in those holes that make it look like the room was used for a boxing workout, or the wood floors that have been scratched up by dinosaurs. They also won’t want a yard with only weeds that are two feet tall. If you don’t want to sell your home at a price where buyers will only focus on the positives and ignore all the negatives, then it needs some work.

2. Bathroom carpet

It’s gross. Everyone who enters that bathroom thinks one of two thoughts: 1) there’s got to be mold underneath; 2) there’s got to be pee all over the floor. You’ll want this update done before listing your home. If you already have your home listed but it’s not selling, this is something to consider.

3. Big, nasty stains

Buyers shouldn’t be able to tell where your dog marks or where you kids spilled a bowl of holiday punch. Potential buyers won’t even enter your home if the carpet stains are so bad. Nobody wants to purchase a pigsty. Invest in a new carpet. You won’t need to lower your price, so you’ll get the money back.

4. Pet smells

They smell. Since you are surrounded by them every day, you may not notice, but potential buyers might. Spend money on air fresheners and deep clean your carpets and upholstery. Remove cat boxes before showings. You don’t want a buyer to refer to your home as “the smelly one.”

5. Loud dogs that bark every time anyone approaches the house

Last word about pets. Barking is inevitable, whether your dog barks or the neighbor’s. You don’t want that to happen on the day of an open house. Offer to pay for the doggie daycare of a neighbor’s pet. This can help eliminate the problem and create the peaceful setting that buyers desire.

6. Your dead lawn

A lack of curb appeal will not necessarily ruin a deal. You may not even be able to convince potential buyers to leave their car. Buyers will assume that if the yard in front is messy, the same mess is inside.

7. The bad agent

Face it. Some of them will be winners. Get a new agent if your current one is rude, uninformed or uncommunicative. A client who doesn’t receive the attention they deserve is unlikely to be satisfied.

8. You’re sloppiness

The drawers and cabinets that you stuffed everything in when you cleaned out your kitchen and bath cabinets may be a deal-breaker for buyers who are picky. Buyers are known to open things. Buyers open drawers, cabinets and closets. They may think that there is not enough space if these areas are cluttered and overcrowded.

9. Unreasonable Sellers

If you’re reasonable, big problems can kill a deal, but can also seal it if they aren’t too serious. Your inspection may reveal plumbing, roofing, or electrical problems (or even all three!) If you refuse to negotiate and the seller is unwilling to make a deal, that sale will be lost.

10. Bad Taste

When it comes time to sell, your poor decorating choices or failure to stay up to date with the latest trends could haunt you. You can see this on House Hunters, where buyers get hung up over paint colors. Simple updates will make it look new and fresh, giving buyers something to fall for.

Original Blog: https://realtytimes.com/archives/item/1017958-20180614-ten-mistakes-that-will-keep-your-home-from-selling?rtmpage=

5 Signs of a Home Improvement Scam

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A new study shows that one in ten owners have been scammed by contractors. Here are some reasons why you should use your list of reputable contractors to help your clients.

As home improvement demand remains strong for kitchen and bath remodels, as well as for outdoor renovations, reports of contractor scams are rising. These schemes could cost homeowners thousands of dollars.

About one in 10 Americans have been a victim of a contractor scam, losing an average of $2,426, according to a new study of about 1,000 Americans from JW Surety Bonds. The study revealed the following contractor scams as being the most common:

The survey found that baby boomers were the most likely to be scammed by contractors (15%). This is followed by millennials (13%)

Red Flags to Watch

The study identified five indicators that could alert consumers to a scam:

  1. The contractor did not complete the work or did a poor quality job and did not meet agreed standards (63%).
  2. The contractor often arrived late or missed an appointment without a valid excuse (40%).
  3. They added additional charges or fees which were not discussed in advance (26%).
  4. They refused to respond to questions or were evasive when asked about progress updates (25%).
  5. They did not provide a written contract or provided a vague contract that was lacking in specifics about the job or cost (13%).

Maddie Weirman, a spokesperson for JW Surety Bonds, a nationwide provider, offers some of the following tips to avoid contractor scams:

  • Make sure the contractor has insurance and is licensed. Hiring contractors who are licensed, bonded and insured can provide homeowners with extra security. Surety bonds protect them against contractor scams.
  • Get everything in writing, and review the contract carefully. “Make sure that this contract includes the contractor’s name and information and when the project is projected to start and end,” Weirman says.
  • Never pay for the entire amount upfront. A deposit is common but Weirman advises homeowners to wait until the project has been completed to their satisfaction before paying the full agreed-upon amount.

Original Blog: https://www.nar.realtor/magazine/real-estate-news/sales-marketing/5-signs-of-a-home-improvement-scam?utm_term=23EF8E9A-359A-444F-9FB8-E57C0EFE2ABA&utm_campaign=3BFA9068-DFBC-477B-BC94-C168B9A999F1&nwsltr=navnar&utm_content=E07DCD88-9487-4560-A98C-D61CA4615020

Renovating Your Home? Check Out Our FAQ’s!

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How do I choose a contractor?

Ideally, you should build a relationship with your contractor that is similar to the one you have with your real estate agent. It should be based on trust and make you want to return to them for future needs. Your contractor should be very good at listening and communicating. You want your contractor to “get” what you want for your home and to keep in touch with you every step of the process. Do your research by checking out the reputation of contractors, speaking with other clients and looking at their previous work before making your choice.

How much will my project be?

The answer will depend on the scope of the project. However, to ensure that your contractor is able to provide you with the best estimate, it’s important to write down all the details of your plan. Renovations often take longer and cost more than expected. This is because homeowners make changes or additions along the way or don’t realize they may need to reroute outlets and electricity if they move a wall. You have to consider each item individually.

How long will it take to finish the renovations?

This depends on how much work is done and how many changes you make along the way. The more planning you do before you start, the better estimate you can get from your contractor.

How do I prioritize my projects?

You may want to plan your project in phases if you live in your home while renovations are taking place. This will allow you to live in some rooms and work in others. You may need to phase projects depending on the cost and available funds.

Where do I start?

Start by doing a lot of online research. Start a look book for your home. You can do this in a notebook, or online. Collect pictures of the finishes and looks you like. Visit kitchen, bathroom, flooring, appliance and flooring showrooms, and talk to different contractors to get ideas and pricing.

Do I need permits?

Your contractor will be able to tell you which projects require permits. Be sure to follow all permitting regulations. Failure to do so can lead to further work being required.

How much will renovating my home increase its value?

Homeowners often believe that improvements will increase the value of their home. However, sometimes, what they consider improvements can be liabilities for future buyers. Don’t spend so much on your house that it is more expensive than other houses in the neighborhood. Be careful not to add style preferences that are difficult to change, such as ornamental fixtures, radical architectural features, or unusual landscaping.

How do I pay for renovations

If you can afford to pay cash for your renovations then that is a great option. If you don’t have the cash, you could consider a home-equity loan with a manageable payment or a revolving credit line that you can use to pay for renovations and any emergencies that may come up later.

Ways to Take Your Curb Appeal to The Next Level

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You can add curb appeal to your house with these simple upgrades that you can complete in one day, a weekend or a month. From replacing your mailbox to refreshing your garden, there are many options. If your home’s curb appeal makes a great first impression, everyone (including potential homebuyers) will want to see what’s inside.

Replace Old Hardware

House Numbers, an entry door lockset and a wall mounted mailbox are just a few of the elements that can enhance your home’s curb appeal. If they are outdated or dirty, it may not be the look you want. The most effective way to use these elements is as a cohesive group, rather than as individual pieces. The oil-bronze finish is best for traditional houses while the brushed nickel finishes are better suited to more contemporary homes.

Install Window Boxes

Window boxes are a quick and easy way to add color and charm to the curb appeal of your home. For a more traditional look, choose boxes made of copper or iron. Choose painted wood to give your display a cottage look. You can mix and match plants and flowers depending on the color scheme of your home and whether or not you receive full sun.

Paint the Front Door

The front entrance of your home is the main focus for curb appeal.  Give your front door a new look with paint or a wood door. Use metal polish to clean off any dirty spots on the knob and door fixtures. Choose a wreath, swag or flag that matches your home’s style.

Create Perfect Symmetry

It’s easy to arrange a symmetrical layout. Light fixtures and accents on the front door can be arranged in a symmetrical way to create welcoming entrances, and increase curb appeal. Lantern-style wall sconces guide guests safely to the front door. They can also coordinate with the hardware and urns.

Dress Up Your Porch with Seating

You can use a bench or small chair on the porch as a place to rest or remove dirty shoes. You can also increase curb appeal by adding comfortable outdoor seating. This will encourage people to interact with their neighbors and take part in street activities.

Install Outdoor Lighting

Low-voltage landscaping lighting can have a significant impact on the curb appeal of your home, while also improving safety and security. Accent lighting can be used to highlight trees, the house or a path. Plan to use a variety fixtures and lighting styles for the best landscaping lighting. Install solar lights if you can’t use fixtures that require wiring. Solar outdoor lights are easy to install and affordable.

Do a Mailbox Makeover

Mailboxes are a great way to express your personality and complement the house. Choose a style that complements your home trimmings if your mailbox is attached. If your mailbox is closer to the road you can surround it with beautiful flowering gardens . This will instantly make your yard look more inviting and approachable. Consider painting your mailbox and post in a color that matches your home, or adding vinyl decals with your address.

Add Shutters or Accent Trim

Shutters, trim and other decorative elements can add beauty and curb appeal. Exterior shutters are available in wood or aluminum, as well as composite, fiberglass, and vinyl. Trim details can be made durable and low-maintenance using composite materials such as PVC or polyurethane.

Replace Gutters and Downspouts

It’s likely that your gutter system is old and in need of maintenance . Peeling paint, rust marks, drooping gutters and other issues indicate that repair or upgrading is required. Replace the old gutters with new ones.

You can save money by installing your own vinyl gutter system. They are known to crack and become brittle in cold weather. Copper systems are more expensive, but they have a beautiful curb appeal and a look of quality.

Add Arbors or Fence Panels

The curb appeal and garden of your home will be enhanced by arbors, garden gates and short sections of decorative fencing panels. These simple additions will provide a beautiful backdrop for your garden. Kits are easy to assemble or come in prefabricated sections you can connect. Paint or stain the items in colors that match your home.

Add Outdoor Art

Add some whimsy to your yard by incorporating artwork that is resistant to the weather. Select pieces that compliment your home’s exterior and natural color palette. Outdoor art can include metal cutouts and sculptures. Birdbaths are a great option, and feature nice colorful designs. The gurgling sound of water sculptures can be soothing on hot days and help to cool you down. Place water fountains in an area with good visibility and hearing.

Upgrade Railings

If not maintained properly, porch and stoop railings will deteriorate very quickly. If your railings have reached their peak, replace them with quality wood or metal components and increase curb appeal. The color, size, design, detail, and material should all be compatible with your home’s primary features. Porch railings are a key component of the exterior aesthetic of a house, and help to enhance its style.

Renew Paint, Siding, and Trim

A new exterior update, such as paint, siding or trim, can instantly transform the appearance of a house. Maintaining exterior surfaces is the best way to maintain your home’s curb appeal. A home’s curb appeal can be negatively affected by visible defects such as cracked or decayed material. This will turn off potential buyers. After repairing the weaknesses, add color to trim or shingles.

Dress Up the Driveway

You can upgrade or clean up your driveway if it is cracked, stained or has plants growing on the surface. Then, you can dress up the driveway by applying a stain to the concrete. Add stone, pavers, or bricks to the side of your driveway to make it wider. This will give you more space to park or move around. Setting off a driveway by creating a clear, crisp transition between the paved and non-paved surfaces will enhance curb appeal.

Build a Walkway

A well-designed pathway can make your home more inviting and warm. Replace a concrete path with a stone or a brick curved pathway to make a dramatic difference. Apply a colored concrete resurfacer and then border it with bricks or stones. Brick paving adds a classic, traditional look to any landscape.

Original Blog: https://www.bhg.com/home-improvement/exteriors/curb-appeal/ways-to-add-curb-appeal/

Hot Outdoor Trends For Spring/Summer

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It is never too late to plan and shop for outdoor living spaces of your dreams.

These trends may be worth considering before they sell out.

Even before fall’s cooler nights, backyard fire pits had sold out by the end of last year. They were bought by people who wanted to extend their outdoor time. A fire pit can be purchased now to enjoy your backyard in the spring and into the autumn.

Outdoor kitchens will be very popular this year as people want to do all they can outside. A DIY kitchen is possible for as little as $2,000.

The outdoor kitchen can be outfitted with everything from barbecues to natural gas to charcoal, in addition to cabinets. You can choose from traditional black or vibrant colours, as well as stainless steel in various sizes and shapes that will suit your backyard. You might also consider the “connected barbecue”, which allows you to control the temperature directly from your smartphone.

Last summer, above-ground pools were sold out. Get one for your kids today. You can also find smaller inground pools that are a bit larger than a whirlpool bathtub for adults. These are great for cooling off and sitting down.

You will need a shed to store your pool-related items. Aluminum sheds are great for tools. But if you need a shed that can also double as an office or cabana in the summer, consider wood sheds that have double doors.

Be sure to consider the functionality of furniture as well as its design. Look for furniture with hidden storage or sectionals that incorporate tables into their designs for small spaces. Wide armrests make it easy to place a glass of wine, or an iPad on a comfortable seat. A coffee table can be raised to a comfortable height, so you don’t need additional chairs or a table.

Privacy screens and privacy kits make products that are both functional and beautiful. Privacy is also achieved by garden walls. This vertical trend includes trellises, metal grids and plants grown on them. Vertical garden walls are decorative and save space.

Decorative and edible plants were very popular during the pandemic. To meet the demand, many stores have ordered plenty of seed packets and plants.

There are many options for fountains and waterfalls. You can choose from large, standalone versions or smaller designs that fit on tabletops. The soothing sound of water can drown out any unwanted noises and create a Zen-like atmosphere in the room.

Outdoor lighting is available to help you stay outdoors after dark and create a mood. Outdoor lighting is now possible with the availability of LED lights in a variety of colours, which are popular among teenagers. You can also find adult-friendly versions, which can be used in planters or under the bar counter. You can also find lights on strings and garden lights that will laminate the edges of the path, as well as an umbrella with integrated lighting.

A front porch adds additional outdoor space. You can dress it up by adding curtains to the sides. This will allow you privacy, and also make it suitable for single seating or sectionals.

You can personalize your space by adding style, colour, and accessories. Enjoy it as you see fit.

 

Original Blog: https://realtytimes.com/consumeradvice/homeownersadvice/item/1041454-hot-outdoor-living-products-for-this-spring

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