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Home Improvements!
One of the best ways to increase the market value of a home is to make structural improvements or add features such as a deck or an extra room. Here are some ideas.
A
home
is
usually
the
single
largest
investment
someone
can
make.
So
why
not
try
to
improve
your
home
to
increase
the
equity
that
may
be
building.
Through
home
improvements,
most
home
owners
will
see
the
value
of
their
home
increase.
Some
of the best ways to increase the market value of a home is to make structural improvements or add features such as a deck or an extra room.
To find out how much of the cost of a
remodeling project can be recovered at resale, check out the Remodeling magazine's "Cost vs. Value Report" ©2005 by Hanley-Wood
LLC. This annual report are samples of current conditions in 35 markets on the
REALTOR® website.
For less expensive improvements, you may want to
consider what we have detailed below. These tips not only will
get an appraiser 's attention if refinancing, but will
help if you are considering selling your home. Not to
mention the increased quality of life you will fell even
if you are considering none of the above.
For a list of some yearly maintenance reminders click HERE. Begin With The Exterior!
Your yard, and the exterior of your house, is the first impression that potential buyers have of your home.
Yard. Keep your lawn neat and well trimmed, with well-proportioned shrubs. Consider replanting flowers or creating a flowerbed to enhance the appearance of your yard. If it is the fall, make sure the lawn is raked at all times. And in the wintertime, clear snow from your driveway and walkways.
The Front Door. Make sure your door is tightly on its hinges! Furthermore, the door should be neat and clean. Paint it if it needs it. If the door is in poor shape, consider replacing it. Finally, a holiday ornament on the door, like a wreath, ads a nice touch. Consider adding an inviting "welcome mat".
Home Exterior. Check for flat-fitting roof shingles, straight lines on gutters, shutters, windows, and siding; solid caulking around roofs and seams. Apply fresh paint where it needs it. Also, make sure the windows are crystal clear; potential buyers often peer through the windows.
Next The Interior!
Lights. During the evening, or whenever you have potential buyers in the home, make sure ALL of the lights are on. This makes rooms look more inviting and spacious. Also, make sure curtains are always up to let as much sunlight in as possible.
Smell. I recommend using a vanilla air freshener that applies directly to your air filter. This gives your home that "new model home" aroma.
Remove Excess Furniture. Remove as much furniture as possible. This can make your rooms look dramatically larger.
The Living Room. Strive for lived-in, cozy feeling. Discard worn, chipped, frayed furniture. Add lamps if it is dark. Open curtains. Set out fresh flowers.
The Kitchen. Many buyers judge the house keeping by the oven and stove. Appliances should be spotless and everything works perfectly. Replace or repair anything that sticks, squeaks or drips. Clear clutter from countertops.
The Master Bedroom. This is the second-most appealing room to a buyer (after the kitchen). Remove excess furniture to make it appear larger. Show the true size of the closets by removing or packing items that can be stored elsewhere.
Bathrooms. Make sure bathrooms are always neat and clean. Remove clutter from sink countertops. Make sure showers are free of scum and tile grout in good shape. Most buyers pay close attention to this!
Basement. If possible, make the basement look like a "living area." Clear out as much clutter as possible (consider moving it into storage). If you have an extra sofa or loveseat and coffee table, consider creating a living area.
When You Let The Appraiser Or Potential Buyers In The Door!
Make sure that the exterior and interior are both in order! Furthermore, appeal to the
appraiser or potential buyers' senses (not so much the
appraiser): make sure the lights are on, the home has a vanilla aroma, and perhaps soft classical or jazz music playing on the stereo.
Additional
Information.
Several Internet sites offer home-improvement information, from remodeling tips to financing. If you are looking to pump up the price of your home, you may want to first visit one of the following:
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WARNING! |
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HVCC & YOU! On May 1, 2009 the HVCC was initiated
throughout the Country on every mortgage transaction that
involves an appraisal that is sold to Fannie Mae and Freddie
Mac. This involves all conventional loans which prior to the
present meltdown was approximately 70% of all lending. With
the banking system crippled, conventional loans seized up
and nearly came to a halt. Presently, the conventional
mortgage market is still trying to get back on its feet
albeit very slowly and cautiously. Then there is the HVCC.
The HVCC came about due to pressure put on an appraisal
management company called eAppraiseIT by a large mortgage
lender Washington Mutual in the State of New York. The
Attorney General of New York created the HVCC. To stay out
of litigation (even though not directly involved), the
appellant in the case (The State of New York) arranged to
have Fannie Mae (FNMA) sign an agreement that all loans
placed through FNMA & Freddie Mac would have to adhere to
this new HVCC.
“We knew this was causing extreme hardship to the industry,
but we didn’t expect to get thousands of horror stories from
would-be homebuyers whose dreams have been dashed by this
well-intended, but misguided policy. Every day thousands of
people are getting the rug yanked out from under them in
their quest to become homeowners because of HVCC. You only
need to go to our petition website to read the stories for
yourself,” said Kearns. READ MORE... |
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