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How to Make Your Home More Appealing to Buyers

Front 2639 E Lakeshore Dr

How to make your home more appealing to buyers

Whether it’s a “buyer’s” or “seller’s” market, homebuyers will always have options when looking for homes in their preferred price range. Even in markets where home inventory is low, buyers can be patient and picky: very few of them are going to settle and pay full asking price for a home that doesn’t check many of their boxes. As a home seller, this means the ball is in your court. Prior to listing, your goal is to make your home the most appealing it can be so that you can get the highest possible offer for your property.

 

In this article, we’ll review some of the best value-boosting remodeling projects, discuss disqualifying factors you should address before listing, and evaluate the true value of making a good first impression. Let’s dive in:

Get a better ROI out of your remodeling project

There’s no hotter buzzword in home remodeling than “return on investment”, or “ROI.” You can’t watch a home remodeling TV show without hearing it about a dozen times. ROI is especially relevant to homeowners who are planning on selling their home because no one wants to sink thousands into a property months before they walk out the door. You want some degree of assurance that some of that value is going to come back to you when you list your home at a higher price and get better offers from buyers.

 

Amongst all the upgrades you can make to your home prior to listing, we recommend upgrading your kitchen and bathroom. You’ll see a high degree of ROI from both of these projects.

Eliminate any disqualifying factors

Your home just isn’t going to click for every single buyer out there. After all, there’s no accounting for taste: just because most buyers love your new quartz countertops doesn’t mean that every buyer will.

 

However, you should consider addressing any aspects of your home that might be universally unappealing for buyers or potential deal-killers. Here’s just a few of them to watch out for:

 

  • Aging HVAC Systems: No buyer wants to purchase a home where they have to worry about the air conditioner or furnace dying in their first year of owning the home. If you have an air conditioner that is starting to have problems, you might have trouble getting traction on your home sale until you replace them.
  • Roof Problems: Many states require sellers to disclose any past roof issues or water damage. However, even if yours doesn’t, it will still come up during the home inspection. Nothing kills a sale quite like existing roof problems. Have a professional roofer repair or replace your roof for a clean bill of health.

You only get one chance at a great first impression

For most buyers, the first look they get of your home is online. Home listing sites have dozens, if not hundreds, of available homes for buyers to scroll through. The buyer has already set filters for price and other preferences, so when they click on your listing, they’re probably going straight to the photo slideshow. They may only spend a couple of seconds here: making a good first impression can really make all the difference.

What are buyers looking for?

This is where that kitchen or bathroom upgrade can really be key. Most realtors agree that buyers in the millenial age group—the single largest group of homebuyers today—see upgraded kitchens and bathrooms as a must-have, with a preference for open floor plans that make the kitchen the center of home life.

The connection between curb appeal and maximizing your home’s value

The pictures of your new kitchen or bathroom may be just what it takes to get that prospective buyer to favorite your listing or send it along to their realtor. With dozens of buyers doing this, you’re going to see an uptick in buyers touring your home and—eventually—solid offers coming in for your home. Once you get the offer that’s right, you can move forward knowing that your effort and foresight helped you maximize the value of your home.

10 Tips to Prepare Your Home for Sale

10 Tips to Prepare Your Home for Sale

Thousands of homes and properties are going up for sale all around the United States every month. How do you go about getting top dollar for your home and stand out from the crowd? Following the tips below will help you get achieve what most sellers want – top dollar for their home!

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1. Paint Color

When choosing an exterior paint color, stick with what’s popular in the neighborhood, goes well with the surroundings of the area, or fits the style of the home. Picking a paint color that is not common or completely clashes with the rest of the neighborhood is a very risky decision, especially when thinking about listing a home. When it comes to paint, choose safe colors for the biggest return on investment. The same should be considered for interior paint — big, bold, bright colors might work for your current design scheme, but when buyers walk through a home, and the main living space is four different colors, it’s likely all they’ll see is dollar signs and time spent repainting.

2. Landscaping

When thinking of landscaping, consider the plants or trees before anything gets planted — trees and roots can wreak havoc with lawns, foundations and pipes; take into consideration how large a plant or tree will get and how far the root system will travel over time. Landscaping has the capability of making – or breaking – a home sale. No one wants your sale turned into a long, laborious process!

3. Your Front DoorDoor

The first thing after landscaping your buyer sees, you certainly want to leave a great impression.  If the door is broken, doesn’t work properly, or is in desperate need of a makeover, a
buyer may see these things as weak points and consider offering less.

4.  Upgrades

If you’re considering upgrading your home before putting it on the market, look to areas that are sure to make you money: kitchens and bathrooms, if tastefully done, will always add to the value of a house. Pools, however, are notorious for poor return on investment (as well as other large upgrades).  Be wise and don’t assume you’ll recoup every penny of your investment – especially in large additions to your home.

MarbleFireplace5. Fireplaces

Stop before you change the aesthetics of that fireplace! Although Fireplaces appeal to a large majority of buyers, It’s best to take trends into consideration when making updates or changes to a fireplace — painting over exposed brick can be a huge deal breaker for some buyers, especially when a majority of people like exposed brick fireplaces.

 6. Appliances

Potential buyers look at the appliances in a home to gauge their age and how well they’ve been taken care of. Appliances play a large part in any home, and if they are old, outdated and no longer working can create hesitations in potential buyers. If it’s a classic that still works, don’t worry about replacing it; if you can’t get the door clean, or the oven temperature doesn’t rise above 350 degrees, it’s probably time to replace it. There’s no need to go all out on the latest and greatest technology either — while a beautiful stainless steel fridge might be alluring, it’s likely you won’t recoup the cost through the home sale, and it’s more likely you’ll want that classy fridge in your new home.

7. Small Stuff/Cleaning

Most buyers have an eye for the small details of a house. An initial deep clean of the house, and continued maintenance thereafter, shows potential buyers that the house has been maintained. The small details matter: windows and window tracks, light switches, molding, a garbage disposal, tile, grout, sinks, ovens and appliances are all looked at by buyers. Make sure these items are not overlooked when the house goes on the market — potential buyers will appreciate the time you took to address them.

8. Trends

Trends can be quite alluring for those looking to dabble in interior decorating. Some buyers like trends, but the majority of buyers look for classic, neutral colors on walls and fixtures. While a chevron pattern may be the perfect accompaniment to your current sofa or bedspread, most buyers will see the pattern, when applied to walls, as a potential paint job. If you’re considering listing your house, consider accessorizing with drapes, pillows and some pictures. These are simple ways of adding personality, and buyers will appreciate a neutral color scheme on the walls.

9. Surface/FloorsWoodFloor

Buyers always look at the floors and counters in a potential home, and these surfaces can be huge selling points. If the counter tops are stained, hardwood floors scratched up, carpet damaged, or the tile is breaking, consider cleaning or finding a quick replacement. If a solid counter top is stained, a buyer will no doubt see dollar signs. If you have hardwood floors, some products can actually dull the wood over time. If the wood needs a little TLC before the house is listed, consider having the floors buffed — this will add some life, and buyers will see that they’ve been cared for.

10. Small Spaces

Kitchens and bathrooms are undoubtedly some of the biggest selling features of a house or property. If either of these areas is small, consider revamping to make them look larger. A small bathroom with no windows is going to look like a cave if the color scheme is on the darker side. Bigger in a small space is always best — stick with neutral, light colors to help make the room look larger. Update any light bulbs that are reaching the end of their life; upgrading to a higher wattage or lumen can help enhance a small area too.

Prepping your home before a sale will always result in better viewings and interested buyers, and the end result will be a happy seller and an even more excited buyer.

Custom Homes and Lifestyle – The Preserve at Harveston!

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Searching for the perfect custom home and lifestyle? The Preserve at Harveston is a 1,400-acre planned community that embraces innovation, convenience and sustainability. A one-of-a-kind neighborhood where nature is your neighbor and well-planned residences, retail and lush green spaces will transform the way you think about living, working and playing. Want to learn more? Drop us an email below or search for your home at http://realestate.artofhomeselling.com/idx/search

 

The Real Value of a Renovation – Part 2

Looking to Renovate? Here’s the Best of the Best (and the Worst than Bad) of RenovatingReno_out

The Best of the Best

 Workmanship – a job well done, whether by yourself or a hired professional, shows. Whether the job is cosmetic or a deeper fix, the work should be of high quality.

Design – well thought out and beautiful, with attention to use, style, scale, and materials; a great design can add the most value to the renovation.

Utility – the more something is used and enjoyed, the more the renovation is worth. Improved access, storage, or other everyday needs is among the most valuable work you can have done. When doorways, stairs or other access points get renovated – check for scale and materials that are user-friendly. Ensure that people can pass each other and that furniture can move where it is needed. Renovations that are difficult to use are a failure.

Lighting – lighting fixtures can be expensive and are very subjective. Consult with a lighting designer and use bright lights that are recessed and well-placed. Avoid the expensive, over-the-top dining room chandelier unless the intention is to use it for years.

Electrical/Plumbing – while not a “sexy” renovation, knowing that the two greatest conveniences of modern living are up-to-date and functioning well is a huge benefit to a homeowner. Document all repairs and renovations and keep the information on hand to show the quality of the work, since it is hidden behind walls and more difficult to assess.

Roof/Foundation/Windows – like electrical and plumbing, renovations that include improvements to a roof, windows or a foundation can add a measure of security as well as immediate and tangible value to a home. Preventing water damage and maintaining the structural integrity of the home is of the highest concern. Ensuring that quality work is done with an eye towards the style of the home is paramount in getting the highest return on this investment.

 Kitchen/Bathroom/Basement/Garage – creating MORE timeless and classic space that is used frequently gets the most return in resale value. Storage is king in any of these spaces, but it should be useful and accessible.

Worse than Bad

Conversely, poorly designed renovations, including poor stylistic or configuration choices, shoddy workmanship or materials can deter a buyer or render your own renovation a failure. Avoid the trap of using the wrong materials: fixtures that are too big, or obviously bought because they were on sale/seconds, using the wrong windows, or inadequate materials for the project that won’t hold up in the locale or manner of use.

Fad renovations often lack long-term usability; that disco playroom or man-cave may look cool, but updating it again in a few years may be impractical. Everyone loves a steam room, sauna, billiard room or workout room, but maintenance and upkeep might make it less attractive. Furthermore, repurposing a bedroom or garage for a renovation of this sort removes spaces that future owners may find vital, so this further jeopardizes return on the investment.

Some renovations don’t go far enough. Redoing the kitchen or a bathroom without updating the wiring is an example of this. Putting in a bedroom, but failing to make it big enough or to follow the building code, is another example. Seek to find renovations that provide a lot of utility for the dollar, while accomplishing all that is actually required. If you really can’t afford to renovate, perhaps waiting is a better idea.

We all know when something is, “Just a little ‘off’.” One of the worst things is a great idea, done well and with fine materials, that just misses the mark; perhaps there is a corner that always gets in the way or that constantly causes someone to get hurt, or maybe it is a cabinet that opens in the wrong direction. Measurements that are off and made right with a work-around, all of these “little things” end up making a good thing into a frustration.

Don’t bash a lot of bedrooms. Converting a little-used bedroom to an office is one thing, but build-ins can diminish the ability to use the room as a bedroom again, potentially limiting the use of the room in the future. Consider carefully before repurposing a bedroom in a manner that limits the future utility of the space. The number of bedrooms in a home greatly influences the home’s value. At the same time, putting an extra bedroom in a basement is often a mediocre idea. Code requires two points of egress – a door and usually a window with very specific requirements, which may be expensive. Additionally, basement bedrooms are often unattractive spaces that require special attention to ensure they are not cold and dark.

With these ideas and goals you ought to have a pretty great idea on what (if anything) you want or need to start on to increase the value of your home – and what not to do. If you would like to understand how to view renovations as a buyer, click here to go to our Part 1 of this series. Happy Renovating!

The Real Value of a Renovation – Part 1

 Evaluating Renovations when Purchasing  a Home

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When evaluating a home that has been renovated one or more times, there are many ways to proceed. Establishing the value placed on a renovation requires some knowledge and looking so that you can understand pricing of a home. In this arena, real estate agents and home inspectors can be incredible assets as they have seen many, many homes and understand the market and condition of a house with a very keen perspective. In some cases, the buyer will be considering a renovation of their own, so understanding what has been done already will be useful in determining the direction and scope of the work at hand.

The price of a home is essentially that which the seller is willing to accept. The value of renovations may or may not affect the offer, but the utility and quality of the renovation could swing a buyer’s preference for the home. One important factor to remember is that the value of the renovation is not only received from the potentially higher sale price, but also in the enjoyment over time of the renovated home. This variable is more difficult to assess, and may be esoteric in nature, but most quality renovations are worth doing as soon as possible so that this additional “enjoyment factor” can increase the true value of the efforts of renovation.

However, renovations can be expensive, time consuming, and inconvenient to the homeowner while they are being achieved. Many people who are not prepared for this suffer undue stress in their lives and relationships, and this cost is impossible to calculate. While the renovation may improve the value and enjoyment of the home, a deeper understanding of the market and a certain degree of luck combine to ensure that the sale price of the home will cover or exceed the cost of the renovation.

The fundamental hope is that the money put into a renovation results in an increase in the sale price. Often renovations are needed to simply bring a home up to the value and standards of other homes in the vicinity. Completing major renovations to put a home on the market may be attractive if the buyer is seeking to “flip the home” – that is buying an under-valued property, repairing it, and selling it at a profit. However, homeowners that are simply improving their own living space frequently run the risk of going over budget and over-valuing the work.

The key to evaluating a renovation is understanding that balancing act behind the end result – what was achieved, how was it achieved, by whom was the work done, and with what materials. The budget, time and inconvenience, and the enjoyment of the renovation – along with understanding the market and the scope of the renovation all become part of the equation in determining its worth.

How far did the renovation go? When all the fixtures and tile in that aging bathroom were replaced, did the owners replace the electrical wiring and water pipes, too? What are the pipes made out of? Copper or PVC, and what was the rationale? Ask the right questions and verify the answers during inspection to ensure that the project was completed as you expect it to be. If the wiring and pipes were in excellent condition and did not require replacement it is just fine to leave things alone. The key is to ensure that what was needed was actually accomplished. Doing too much or too little can cause a project to fail in the ultimate goal: to actually improve the home.

Want to know the Best of the Best and Worse than Bad Renovations to contemplate for your own home? Click here to go to Part 2 of this series!

Hot and Happenin! March 2014

Burbank * University Villa * Magnolia Lakes * LSU Lakes!

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These beautiful areas are not only Hot, but also have an average of a 3 month inventory since the first of the year! If you are ready to get into a home within one of these areas, your best bet is to start looking now as it is sure to get busier as we head on into summer. Upper priced homes may (only may) afford you some flexibility, but for the median price range of $250,000 to $350,000 the inventory is going fast!

Want to know more? Get in touch with us and we will guide you through to the home of your dreams!  Contact us today!

2014 State of the Real Estate Market: Baton Rouge Leads The Nation!

Looking ahead to 2014, no other market in the country is poised for growth more than Baton Rouge according to DSNews. Comparing 2013 to 2012, Closed Sales are up, Days On The Market are down, Sales Prices are rising and the Percent of List Price statistics are relatively unchanged. In Baton Rouge, homes are well-priced and the market is hot!

AOHS MarketStats2014

It’s a great time to sell and a healthy time to buy a Baton Rouge home! The Louisiana foreclosure rate dropped to 1.7% at the close of 2013. And while 30-year fixed rate mortgages hovered around 4.50 percent to start 2014, the Mortgage Bankers Association expects mortgage rates to increase above 5 percent in 2014 and then increase further to 5.5 percent by the end of 2015. Now is the time to act before rising rates impact affordability.

Knowing how to make the numbers work for you is an integral part of the Art of Home Selling. We’d love to show you how!

Janet Anderson