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Showing posts with label Home Improvment. Show all posts
Showing posts with label Home Improvment. Show all posts

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Low Price Home Improvement to Increase Your Home Equity

- The equity in your home is the difference between the price you owe on the home and how much your home is worth. You increase your equity by paying down your mortgage and also through the natural inflation of home prices. You can also increase your equity by completing home improvement projects that will raise the perceived value of your home. By focusing your home improvement projects that will make your house worth more on the market, you can take charge of your equity.

- Having equity in your home is one of the major benefits of being a homeowner. Even though your mortgage payment might be close to what others are paying for a rental home, they cannot use the equity in their home. If your home is worth more than what you owe on it, you can borrow against that amount to consolidate your bills or to make additional home improvements. Owning a home is like having a special savings account. It can really pay off in the long run.

- If you're choosing between several home improvement projects, focus on these first so you can build equity. Even if you're not planning on selling your home, the equity is based on what people would be willing to pay for it in its current state so you must always consider what buyers would want.

Kitchen

- A complete kitchen remodel or even a project to refinish the cabinets can really increase the value of your home. In fact, real estate appraisers say that you get the best return for money spent in this area of the home. Kitchen remodels can be intimidating, so buyer appreciate it if you've taken the time and spent the money to update the kitchen.

Bathroom

- Bathroom are right behind kitchen when it comes to finding home improvements to boost equity. Much for the same reason as kitchens, bathrooms boost equity because buyers are willing to pay more for an updated bathroom.

Flooring

- Flooring can have a major impact on the look of a home and its equity as well. Worn carpet or chipped tile are unsightly and dissuade people from buying. By replacing the floors, you can raise the value of your home by several thousand dollars. If your budget is small, consider only redoing the main living spaces.

Landscaping

- Never underestimate curb appeal and backyard design when it comes to building equity. Well manicured lawns, nice planted flowers and shaped trees can all increase the value of your home in the eyes of appraisers and potential buyers.

Crown molding

- This small home improvement is easy to do yourself and it can help out with your equity. Crown moldings around the walls of all major living spaces can make your home look more refined and architectural.

- These five projects will raise the asking price of your home and your equity. Taking time to incorporate them into your home can pay off in the long run, so pick one and run with it!

Affordable home improvements that will add value to your house (Part 3)

- 12. Free your counter tops in the kitchen from all debris. Keep them as open as possible. Make the kitchen look bigger. If this means boxing up items you only use periodically, do so. Clean those cabinets and organize them. People do look inside and don't want your disorganized junk falling out at them when they open them. Again, downsize, making it look like more storage space than is actually there.

- 13. Keep your kitchen appliances spotless and the refrigerator smelling fresh clean and with use a box of baking soda at the back to absorb smells. Keep your drains smelling good by adding white vinegar or baking soda to the drain pipes once a week while up for sale.

- 14. Pick up the bedrooms. Show off their size and beauty. Sometimes all it takes is a new comforter and valance and toys placed in a strategic location. Keep clothing hung in managed closets. Don't store boxes full of stored goods in the closets as closets sell houses. Rent a storage unit until the house is sold so that extra clothing and closet debris is out of the way and people can see how large a closet space you have, even if you don't.

- 15. Clean the windows. People love to look out to see their "land". Doing so from clean windows make the house feel larger and newer.

- 16. Bathrooms: Well what can I say? Make sure they are spotless. Even if this means cleaning them on a daily basis. Keep toiletries hidden and nice fresh towels on the racks during showings. Make sure there is no mold around the shower or tub. Make sure the caulking is fresh and clean. Remove rugs if they are dingy and make sure the flooring is spotless.

- 17. Lastly, if you have a garage, clean it up. Buy storage bins and get everything off the floor. Sweep it out and organize so that the car or cars fit nicely and there is still room to have a small work area. If the floor is cracked, patch it and paint with epoxy paint. If the floor is in good repair just make sure it is clean and organized.

  These are a few basic some tips for spending very little money but getting back a good return on your most precious investment. Even if the kitchen appliances and/or cabinets are outdated and the paint not what the purchaser is fond of, they will be more inclined to make an offer knowing that they can move in and get work done while residing in the house. Only investors want a "gut" job, thereby causing a low ball offer.

  Depending upon where your house is, in the pricing category, will depend on how much you need to spend to "get it sold". It should go without saying that all major systems need to be in working order so have these checked out prior to putting the house on the market. Selling "as is" means a lower return on your investment. Sometimes you have to spend money to make money. I guess a good rule of thumb is to leave your house looking as good as the one you wish to purchase.

  Start to prepare early, spend wisely, look at your comparable in the neighborhood, and have fun. This is a very stressful time but can be well worth the effort and elbow grease in the end. The best advice I can give you is to not give up. There may be 100's of lookers but remember there is only 1 buyer and that buyer may be the one you least likely suspect! Happy house selling.
Part III
Source: Helium.com

Affordable home improvements that will add value to your house (Part 2)

- 4. Keep the driveway in good repair. If you are lucky enough to have a gravel driveway, just make sure the stones are not all over the street and in some order on the driveway. If you have asphalt, have it resurfaced or do it yourself. This is not too costly, but is a bit labor intensive. If you have a concrete driveway, fill in the cracks if there are any and have it professionally resurfaced or if you don't have the funds for that, you can paint over the driveway with driveway paint after the cracks have been sealed. Again, labor intensive, but worth the effort.

- 5. If you already have a walk way into your house, make sure it is in good repair. As with the driveway, fill in cracks and repaint if necessary. If you have flag stone paves or the like, make sure they are sturdy and embedded and the grass around them is not unkempt. Make it a pleasant walk to the front door.

- 6. Make sure the stairs into your house are sturdy and if painted, give them a fresh coat. If the front door is in good repair give it a fresh coat of paint as well. If the door is old, replace it. This is your preference. Doors range anywhere from $200 to thousands of dollars. This you can do yourself. It is easy to remove an old door and replace it with a new one. Go to a seminar at Lowe's or Home Depot or buy a How to book, but never let the door be the deterrent from having someone want to walk into your house. Replace the hardware as well if yours is pitted and old. New shiny hardware shows that you take care of things around your home and have pride in ownership.

- 7. Once inside the home make sure the carpets are clean (do it yourself by renting equipment or buying a carpet cleaner) or have it professionally done. Clean carpeting makes even the dingiest old carpet look livable.

- 8. Clean hardwood flooring. If you don't have the money to refinish it, clean and polish it with Murphy's Oil Soap or another product of the same quality to keep it looking fresh.

- 9. Rearrange furniture to give the home a good flow. Take out large pieces and put them in storage to make the room look larger and more inviting.

- 10. Paint. What can I say? Paint is a personal preference. Most people want neutral colors but if you have painted with vibrant colors and don't have the fortitude to redo the painting, make sure the paint is clean and free from dirt, scuff marks, and the like.

- 11. Smell. Remove animal smells from the house by either removing the animals and their cages until the house has sold or by fumigating and then placing air fresheners strategically around the house, especially bathrooms. I find the Air wick solids work well and are out of site, not too strong, but just a hint of fragrance.
Part II.

Affordable home improvements that will add value to your property (Part 1)

Having sold several houses and having helped many realtor's stage their houses which are currently for sale, I feel I have a good sense of "what sells". During these tough times in the real estate market, it is imperative that we do everything we can, on a shoestring budget, to get that house sold! That being said here are a few tips:

- 1. Clean, clean and then clean again. Make sure your house is spotless, both inside and out. Dust away all cobwebs, clean the baseboards scrub the floors, dust those dust bunnies and yes I mean under the beds as well. You would be amazed the people who will look under the beds when viewing a home. Make sure that your house is kept spotless during the sale process. I know this is hard but it is a cheap and easy way to show off your home's potential to future buyers.

- 2. Clean up the outside of your house. Have the house power washed and then check for any roof leaks, cracks in siding, or gaps in siding. Paint the outside if needed, especially the shutters and around the windows. People seem to be obsessed with windows today. If you are unable to afford to replace outdated non energy efficient windows with new one's, caulk and repaint making them to make them look "new". If you have double paned windows which seem to have sprung a leak and are now cloudy, have the glass replaced (more cheaper than new windows). Also check the screens. Re screen those with holes and replace screens in bad repair.

- 3. Curb appeal is a no-briner. The first thing people see when they drive up is the outside of the house. The house could be absolutely gorgeous on the inside but if the exterior doesn't show well these potential buyers won't even bother to stop in. Remember you have a lot of competition out there in this market; you want yours to stand out from the rest. Replant grass if needed; keep the grass mowed and lush. Plant flowers of varying colors and timing to keep the outside looking fresh and bright. Mulch those beds. People like the fresh look of mulch and this will also help to retain the water at the plant roots, keeping your plants alive and more vibrant longer. Edge the lawn. This makes it look landscaped. Trim bushes. Cut down dead trees and of course, rake those pesky leaves, bag them up and dispose of them off of the property. There is absolutely no need to plant expensive flowers - go to Lowe's, Home Depot, Wal-Mart or wherever they sell inexpensive gardening supplies and pick out the cheapest flowering plants, map out a plan and plant away. The more color the better. It will draw the eye of the buyer to your home...
Part I