Tag: home improvement

Top 3 Factors That Devalue Your Home

Posted on by Jenny Zamora

When trying to sell your home, you want to make sure you do everything you can to get the best price possible. Buyers are often picky, and it is up to the sellers to identify their needs and try to make the best possible impression in order to close the deal. You need to be aware of the factors that devalue your property and do everything in your power to change those that are under your control. However, some of those factors are not easily changed.
Here are top three factors that can affect the value of your property negatively:

1 Neighborhood
This is a major factor for any prospective buyer and can impact the price they are willing to offer for your home. Living near airports, train tracks and pubs equals noise pollution, while highways, plants and landfills mean pollution altogether, and affect home value extremely negatively.

Also, if your neighborhood is known for high amount of criminal activity, that won’t benefit your home value either. You should be honest with crime level in your neighborhood as this is something a prospective buyer can easily check online or at a local police station. If there is a Neighborhood Watch at force, be sure to mention that, as it might help prospective buyers feel more secure.

Finally, your neighbors have a huge impact on a prospective buyer. If your neighbors are hostile and argue with you over every little thing, chances are they will continue arguing with the next owner. If it seems that you have a dispute with your neighbors, many buyers will either pass or offer a lower price. Nobody wants that kind of trouble. Also, keep in mind that your neighbor’s criminal history, like being a registered sex offender, can impact the value of your property, and also prolong the time needed to sell it.

2 Yard and house exterior
The first thing a prospective buyer will notice is the condition of your yard and the exterior of your home. Everyone wants to live in a beautiful and well-maintained home. Strong curb appeal is essential when trying to sell your house. A poorly kept landscape will devalue your property or even turn a buyer off for many reasons, one of them being the cost of redoing landscaping and the time they will need to invest in that project. A rotting fence or an old shed will not help your house feel welcoming either. Even water elements, such as pools and ponds might have a negative effect, as buyers might be worried about costs of maintenance, and also security for their children near such elements.

The outside of your house needs to make a good first impression as well. Chipped or faded paint, dirty windows and busted sidewalks will certainly not go unnoticed by a prospective buyer. It will make them wonder if the exterior of your home and your yard is so neglected, what is also neglected on the interior, and give them an overall negative feeling about your home. You should invest in a fresh coat of paint, wash your windows, and make any necessary repairs. Make sure to pick neutral colors, like grey, white and shades of beige for the most of the exterior, while painting the front doors in a bright color to make them stand out.

3 Outdated kitchen and bathroom
There are two areas buyers will inspect carefully – kitchen and bathroom. Kitchen is the central part of every home and it needs to leave the right impression on the buyers. They need to absolutely fall in love with it and easily picture themselves cooking for their family there or hosting dinner parties. This is why people often consider it a good move to remodel and renovate their kitchens when trying to sell their house. You don’t need to do that much and spend too much money on some big renovation. A few simple things will do the trick, like a fresh coat of paint on the cabinets, new door pulls, fresh laminate on the countertops and sparkling new sink. All these renovations require a small budget, but make a huge difference for the buyer and the price they are willing to offer.

Just as they want updated kitchens, buyers want updated bathrooms, so consider making small changes to update it, like adding new fixtures, new lighting, new coat of paint, even new tiles, if possible. Your bathroom needs to welcome the buyers in, and be clean and well-decorated. You don’t need to go overboard with some big renovation. Sticking with these simple updates will serve you better.

Even though there are some things you can’t influence, like your neighborhood, there are always things you can do to minimize their effect. It’s not easy to sell a house these days, but don’t give up, there’s always someone looking for a house, and yours will find its buyer sooner or later.

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Home Renovations That Draw the Highest Price

Posted on by Jenny Zamora

 

Investing your money into a property that you intend to resell can potentially earn you a nice profit. However, not all home improvements will guarantee you a profit. It’s crucial that you know where to invest your money so that it will increase the resale value of the home when you go to sell it. Throughout the years, I’ve rehabbed 300+ Orlando homes and through my own experiences both as an investor as well as an Orlando real estate agent,  I’ve compiled a list of home renovations which have given me the best return on my investment dollars.

 

Here are the top renovations that you can add to an investment property that will get you the highest return on your money.

The Kitchen- The kitchen is the most used room in the house and should be one of the main focal points of a re-model. Quality cabinetry, counter tops and appliances are a must in a kitchen. No home buyer will want to buy a home and have to remodel their kitchen when they move in so I suggest not cutting any corners when it comes to the kitchen. Don’t get me wrong, I don’t mean that you should get gold plated fixtures and top of the line appliances. However, you shouldn’t buy the cheapest materials either. Try to stay somewhere in the middle price range. I like to go to the large hardware chains and see what’s on clearance [usually at the front of the store]. By doing this, you should be able to get some high end materials for mid range prices.

The Bathrooms- Bathroom remodels come in at a close second to remodeling the kitchen. They are the second most used room in the house and should be updated on any remodel. A new vanity, toilet and fixtures are a must unless the existing ones are in “like new” condition. There’s no bigger turnoff to a potential buyer than a dirty and out dated bathroom. It doesn’t have to cost you a fortune especially if you do some shopping around just like you should do for the kitchen. Any money that you can save on a remodel means more money in your pocket when it’s time to sell.

The Floors- The floors of a home is usually the first thing a potential buyer will notice as soon as they walk in.  If the house has tiled floors and they look half way decent, then I will usually just have them cleaned by a tile cleaning company. A good tile cleaning company will clean the tile as well as the grout joints leaving the floor looking like new. However, if the tiles are in bad shape or they look tacky then you have no choice but to remove and replace them. If there’s carpeting, then 99% of the time it should be replaced with either new carpeting or tile. There’s a myth that tile is much more expensive than ceramic tile but this isn’t always the case. And even if it is a bit more expensive than carpeting, it might be worth the extra expense to have tile instead of carpeting. In my experience buyers will always prefer tile over carpet.

Paint- There’s nothing that will yield a higher return on your money than a fresh paint job. A new paint job will brighten the entire house as well as hide minor imperfections on the walls. It’s important to stick to neutral colors when painting a house that you intend to sell. Some investors make the mistake of using too many colors thinking that it will somehow impress a potential buyer but this couldn’t be further from the truth. Just because you think that you have great taste in interior design, it doesn’t mean that it’s true. Not only that, but if a potential buyer doesn’t like the colors on the walls this could be enough reason for them to not make an offer. My suggestion is to stick to one or 2 colors for the entire interior of the house. I like to paint the walls off white and the trim pure white. By using only one or two colors throughout the whole interior the house will look new, elegant and best of all… it’s much cheaper for labor as well as materials.

 

 

 

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Tired of rising energy prices? Then start thinking about solar panels!

Posted on by Jenny Zamora

Over the last few months, all of the major energy suppliers have increased their prices. If you didn’t take the opportunity to lock in a fixed price tariff before the latest round of price increases, then you could be facing a large increase in your quarterly bill and limited options for keeping costs down.

 If you missed the boat on changing energy suppliers, and you’ve already tried the simplest ways of reducing your energy usage, such as installing insulation or updating your appliances, then maybe it’s time to take more creative measures. Installing solar panels is an easy and efficient way to cut your energy bills. Many homeowners manage to cut their energy bills by as much as 50 percent, so it should not take long to recoup the expense of the installation.

 Solar Panels in Orlando

 One common misconception is that solar panels do not work in the UK, because the weather is cloudy and many parts of the country do not see a lot of sunlight. This misconception is based on older solar panel designs, which required direct sunlight to work. Modern photovoltaic panels are much more efficient, and will produce some energy from ambient light, meaning that they can be used in any part of the country.

 How Much Does Going Solar Cost?

 A standard solar panel set up for an average sized house typically costs £7,000, and the average household saves £150/year on their electricity bills from the energy that the panels generate. The real financial savings don’t come from that reduction in energy usage, however. Rather, they come from the Feed In Tariff payments that most suppliers offer.

 If you are a homeowner and you plan to live in your property for several years, then you could recoup £16,000 – £26,000 (according to British Gas estimates) over the lifetime of the installation, from the combination of Feed In Tariff payments and energy savings.

 If you cannot afford the up-front cost of getting solar panels installed, then you can apply for financial help via the government’s Green Deal (which helps homeowners pay for a range of green home improvements), or getting solar panels from a supplier that installs them for free. Companies such as A Shade Greener will fit solar panels free of charge, but in return they take the Feed In Tariff payments. You will still save money on your energy bills, but won’t get any cash back from having the panels.

 Solar is a Big Commitment

 One thing to be wary of with solar panels is that you may need planning permission to install them, and they are a big commitment. This is especially true if you opt for free solar panels. When you get the panels installed for free, you are effectively leasing them (and paying for them with the Feed In Tariff). You should speak to your mortgage provider to confirm that they are OK with this kind of long term lease.

 In addition, solar panels cover a large area of your roof, and this can make roofing repairs a more complex job than they otherwise would be. The panels themselves can be expected to last for 25 years if they are well cared for. If you are willing to be an early adopter, and understand that it will take several years to break even on the expense of the installation, then solar panels may be a good way to take control of your bills.

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When Do Renovations Actually Add Value to Houses For Sale?

Posted on by Jenny Zamora

Two of the most common questions a seller has when they put their house on the market is which home improvements or renovations will actually add resale value and which will end up being a waste of time and money. The answers, of course, may vary from home to home, but there are a few projects that most in the real estate industry would agree a seller should invest in if it’s needed or stay away from if the added value is uncertain. Simple improvements and repairs can go a long way with potential buyers when they are doing a comparison of many houses for sale.

Upgrades That Add the Most Value

Kitchens and bathrooms are known to be the focal point for most buyers when they’re doing their initial walk-throughs of houses for sale, so these are two rooms that should almost always be updated if they demand it. It’s important for kitchens to be clean and have a generally modernized appearance. This can be done by upgrading to brand name, energy-efficient and matching appliances, installing new sink and lighting fixtures and giving the cabinets a facelift. The cleanliness of bathrooms are just as significant as the kitchen, and should also have newer appliances, flooring and paint. If it’s in the budget, adding on another full or half bathroom can lead to an even bigger return.

Outdoor renovations are also usually a good idea since the exterior of your home will be making the first impression on any potential buyers. Your home’s curb appeal can have an extra positive impact on viewers if the landscaping, siding, front door, windows and garage door are all spruced up. In addition, buyers will expect the roof to be in good condition, and if it’s not, it could mean a big chunk of profit that you lose out on in the final sale price.

Upgrades That Can Decrease the Value

The goal for home improvements or renovations is not to put a whole lot more money into them then you’re going to see returned in the sale. It can be confusing for sellers to distinguish what adds or detracts value if they begin to think of their personal preferences and not the buyer. Examples of this can include a swimming pool, garage conversion and luxury upgrades (marble flooring, sunrooms, movie theater, etc.). While some of these features may be at the top of your dream home wish list, they won’t suit everyone that is looking for a new house and can end up being a deterrent.

More Factors That May Influence Value

There are numerous factors that can influence the value of houses for sale, and there is no guarantee on a return no matter which improvements or renovations you invest in. Before you start devoting time and money to any projects, consider a few more circumstances, such as the appearance of other houses in your neighborhood, the age of your home, if the improvements will keep your house in the same price range as others in the same area and if the upgrades will seem out of place with the rest of the home.

To learn more about the general rule of thumb when it comes to making valuable improvements on your house for sale, speak with an experienced real estate agent in Orlando.

About the Author

Tiffany Olson resides in beautiful Northern California and blogs full-time on a variety of topics including home and real estate. When she’s not writing she loves to take weekend road trips, cook, and read.

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Roofing Ideas from the Experts of the Industry

Posted on by Jenny Zamora

Home is the place where people find ultimate solace. That’s why people are so attached to their homes. They always keep on thinking about new ways to make their homes more beautiful, more durable, and securer. When it comes to the maintenance of these homes, the roof would be the foremost thing to start with. It’s that part of a house that protects all the internal things and walls from harmful external elements. It fights with the extremities of the weather outside and prevents it from entering the home. You must always pay very good attention to the roof of your home and take proper care of it. Here are a few tips direct from the horses’ mouth, i.e. from the experts of the industry.

You shouldn’t ever inspect the roof when the shingles are wet. They are very slippery when wet and besides, you can simply find any leaks in the roof just from inside. If you see mold growing on walls or ceilings, then you need to take serious care of it. Moreover, if some tiles seem to be of a different color than others, there’s probably a leak.

However, if you find yourself unable to take care of your roof on your own, you can take the help of professionals. Lots of people hire these professionals every year and keep their roofs in tip-top shape all the time. But you need to select a good roofing repair professional or organization for your roof. The contractor should be having a long list of satisfied customers. You must ask the professionals for some customer references to know about their experience with the services of the professional. Also, you should get it confirmed from the professional about their license, insurance, and bonds. A company operating without these things shouldn’t be considered at all.

Even after hiring a reliable roofing contractor, you should contact your home insurance company to let it be done perfectly. They would be able to tell the basics like the type of roof you have, its approximate age and many other significant things after conducting a secondary inspection of your roof. Also, ensure that taking the services from the roofing company you are hiring is not going to void any part or the entire insurance policy.

After confirming the fact that the contractor you want to work with is perfectly suitable, get photocopies of all the important documents including license, insurance, certification, etc. You also should be having a copy of your contract agreement. Also retain the quote provided by the company at your initial interaction, which should be on the letterhead of the company.

You should attempt roof repairs yourself only when you feel absolutely comfortable with it. If you have even the slightest doubts, you must contact a reliable and reputed contractor to take care of it. Conducting online research is the best way to do it. Observe a few online reviews and know about the expertise of the company yourself. You must also contact a few customers of the company and ask them about the work of the professional.

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