Thinking of Selling and Wondering What Updates Would Help?
In the many homes I’ve shown sold and previewed, I always find it interesting to see what, if any, updates the owners have done. There are many opinions about what “should” be done and how much updates cost, but the really important piece of information is what is the homeowners Return on Investment (ROI). While I’m not certain I agree with the estimated costs in this article by Melissa Dittman Tracey of REALTOR(R) Magazine, I do think that the ROI’s will give you the Homeowner or Seller or even you the Buyer a perspective in pricing or offering price. And if a home isn’t as updated as you’d like, Buyers should have some general idea of what it will take to pay for what is important to them. Budgeting for updates is key. There are other resources online, but if you’re just beginning to think about it, this is a great start!
By Melissa Dittmann Tracey, REALTOR(R) Magazine
February 18, 2013
Home owners are investing in their homes once again, according to recent industry surveys that point to a strong rebound taking hold in home remodeling. Home owners also may be seeing higher gains from some of these remodeling projects at resale…
You bet it does! What do you do when you drive by a home with a yard that looks like the owners don’t care? And when you are looking for a home to buy, what do you think? Do you go in or drive by? If you go in, what are you thinking about the Asking Price? How does the outside appearance affect your thoughts?
Here’s a great pictorial article from ThisOldHouse.com, a great “idea” website.
Making your house the stunner on the street doesn’t have to break you or the bank
JOSH GARSKOF | THIS OLD HOUSE MAGAZINE
The answer is INSPECT!
I was talking with a good friend of mine today. She is a senior agent with over 25 years in the biz. She is working with a buyer in the $300-400K market in Fairfax County. They wrote an offer an a sweet condo with an escalation clause. But they lost it not because of the money. No! They lost it because of the Home Inspection! Oh my gosh! It’s 2005 again! Well, no, it’s 2013 and the market in Northern Virginia was hit and is recovering. But the inventory is quite low and it’s making some buyers, and possibly some agents, react without their own best interests in mind.
So… the answer to my question, “To Inspect or Not to Inspect, THAT is the Question!”… is Inspect. That’s what I advise my Buyers to do. Home Inspections are for your own protection. While it may appear that everything in the property is fine and dandy, it might not be. A well trained and experienced Home Inspector will find things that might cost hundreds if not thousands of $$.
Here’s some more recommended reading about Home Inspection…
from InmanNEWS … for Buyers
February 12, 2013
On-site review can avoid misunderstandings, determine a property’s worthiness. DEAR BARRY: Our home inspection is scheduled for next week. This is the first…