When a neighborhood is hopping with new renters and buyers, it is easy to make money flipping a home. Landlords who rent properties in good repair may find it an attractive option to consider selling in a flourishing market. This article lists some important ways for property owners living in up-and-coming communities to renovate to appeal to new buyers and renters.
Maintenance is Number One
No matter the age of a home, buyers want fresh, clean houses with new paint, siding, floors, and more. While some people prefer a fixer-upper, the majority of purchasers are seeking properties with space, little work, and unique characteristics. Everything from the garage to the yard and the attic need attention. Some of the biggest areas to check for damage include the HVAC system, foundation, roof, plumbing, and electrical systems. Check your windows to see if it's time to replace them. Doors or items that are not properly installed can leak or let in drafts, so tend to these issues first. New buyers want to know they will not be facing high utility costs when moving into the house.
Know What People Like
The best way to find out what local buyers want is to go to open houses nearby and see what is available. Are there new kitchens and bathrooms in the homes? Do the properties have new decks, patios, or yard items that boost the curb appeal? Is there a garage with special features, a basement with extra living space, or acreage people can use to create a stunning...
Should I remodel my home to sell or not?
Selling a home can be a daunting task. There is big money at stake and everyone wants to make sure that they get the most money possible for their home. With many homes on the market and every seller trying to get top dollar for their home, the question arises every day “what remodeling improvements pay off when selling a home”?
Should I remodel my home to sell?
The best real estate agents understand that when a home is put on the market for sale, it’s important to have a persona of the potential buyer in mind. That means think of whom the person that would be the perfect buyer and build you’re marketing around that type of person. Generally speaking, the “perfect buyer” for a particular home will be willing to pay top dollar because the attributes of that particular property brings more value to their situation. For instance, if the home that is being placed on the market is in a great school system, has 4 or 5 bedrooms and a swimming pool, your potential buyer is a family with children in school. When attempting to build the persona of your potential home buyer, you should also consider if they anticipate trying to save some money by purchasing a home that needs some work, or do they want a home that is in pristine condition? All of that being said, you will usually get top dollar for your home if the home buyer wants a home in move in conditon. The next thing you should look at is the compairables in your neighborhood to see what their condition was when they were sold. For instance,...
When it comes to energy efficiency, look for smart features and expertise to help you save energy and money and add value to your home.
1. Begin with a Right-Sized Home.
If the home you buy is simply too large for you or your family’s needs or plans, you stand a good chance of wasting energy through excessive heating and cooling costs. If it’s too small, you’ll feel cramped and uncomfortable. It’s a big investment, so seek balance and buy it “right” from the outset.
2. Purchase Energy Star Appliances Such as Your TV, Dishwasher, Washer and Dryer, and Microwave.
And especially the refrigerator, as it alone contributes about 10 percent of the energy use in a home. Also, unplug electronics not in use or turn off power strips to avoid phantom charges.
3. Install Efficient Lighting Such as Compact Fluorescent (CLF) or LED Bulbs in Every Fixture.
Lighting accounts for about 6 percent of an energy bill each year.
4. Get an Energy Audit and Have Tests Performed to Identify Ways of Improving Your Efficiency.
You can always upgrade your heating, ventilation, and air conditioning (HVAC) system as well as your thermal envelope, which includes insulation, windows, and doors and the seals or weather stripping around them. Visit energy.gov/energytips for more tips.