You can tell that home repairs shows have been gaining in popularity due to the large number of shows that show off expensive, over the top repairs. Even if the upgrade is able to get the buyer to say wow the real question is if the expense will actually garner you more money? You do not want to put lots of cash into upgrading something only to find out that you have actually caused your home to be less marketable to home buyers.
Home repair shows have been growing in popularity as you can see by multiple reality shows on TV sporting expensive, over the top upgrades. Although such upgrades can really wow home buyers, the question that matters most is whether these repairs and upgrades really are worth it? After all, no one wants to put in thousands of dollars into changing their home only to realize down the road that it only makes the house even less marketable to home buyers. This article will talk about which repairs and upgrades are worth it and which are not worth your time and money.
Bring your home up to excellent condition first.
Before you start thinking about your next upgrade project, think about what is keeping your home from being listed as excellent condition. Is your bathroom faucet leaking? Does the window on the top floor have a crack in it? Are their holes in the wall that need patching and stains on the roof that could be confused as water damage?
Homes in good condition will always fetch a greater price than homes that are sold as is. Moreover, sometimes all your home needs is to have minor repairs done and some good old fashioned scrubbing from top to bottom. Do not undervalue the importance of thorough cleaning and handyman help. Yes, it is not all that fun or that glamorous, but the greatest return for your money is a clean, neat home--not necessarily an upgraded one.
If you have lived in your home for several years, it is a good idea to pay for a home inspection. Home inspectors are professionals who will evaluate your home from basement to roof looking for repairs. This will help you know exactly what needs to be repairs, and you can show off the inspection report and the repairs to potential home buyers. These buyers will appreciate that you have taken the time to assess repairs and then fixed them to give the house a clean bill of health.
Check Out The Neighbors First
Before you start to make any upgrades make sure you look around at the other homes in your area. Make sure whatever upgrades you are planning will make sense for the area that you are in. You can even attend an open house, or speak with a real estate agent, to get an idea of what the other homes in your area are offering. Look at as many listings as possible in your area, for comparable homes, so you have the best idea what your buyers are going to be looking for.
Perhaps you have features of your home that are unlike any other home in the area so you will be able to market these as additional features. As an example if your home has stone flooring and all of the other homes just have linoleum, you can market this feature in your listings. Maybe you find out that your home is lacking something that other homes in your area have, if so you will have to upgrade that item if you want to command the highest possible price. If all of your neighbors have garages and you just have a carport you will have to upgrade this item or ask a lower price to get people to look serious at your home. You always want to do your upgrades with the comparable homes in mind.
The Rooms With The Highest Return On Investment
By far, the rooms that yield the greatest return on investment are bathrooms and kitchens. After removing all traces of dirt, think about modernizing the faucets, light fixtures, and cabinet handles.
Another good return on investment is flooring. If you have hardwood flooring hiding under carpeting, consider taking out the carpet since hardwoods are the trend nowadays. The same goes for wallpaper since the wallpapers are very personal and what you liked may not be what the buyer likes. It is best to tear it down and put up a fresh coat of paint in neutral tones.
Talk with your real estate agent so they can tell you what is selling on the market so you can plan on making your upgrades accordingly. If you do upgrades that are more personal then popular it may leave you with an overpriced home that you are not able to sell.
Is It Possible For Vacant Houses To Hurt An Entire Block?
The process of selling your home can be a very complicated thing, and if you have distressed homes in your area it will make it even harder because they can lower the value of your house. Sadly, in today's market, it is a very real possibility even if your house is in great condition, if you are in an area that has a high number of foreclosures and short sales, that your house will suffer right along with those houses.
Do You Know What Happens During The Foreclosure Process
There are not a lot of people that think about the possibility of losing a house to foreclosure when they first purchase the home. The process of foreclosures is not something that happens right away and in the following article we will talk about the various steps that a lending institution can take during the process.
How To Use For Sale By Owner During The Home Sale Process
A For Sale By Owner, or FSBO has been in the real estate industry for a long time now, but has been increasing in popularity. In days past you could only sell your home if you were using a real estate professional like a broker, Realtor, or agent. But with the size of the commission fees a lot of people are deciding on going with a FSBO and doing more of the work themselves.
