Real Estate

Last updated on August 1, 2024 A move-in ready home is highly desirable and tops most buyers' wish lists. However, if your home needs a lot of TLC, you may be wondering what your options are when it comes time to sell. Should you offer discounts on your home or invest time, energy, and/or money into updating certain spaces before listing it for sale? In today's post, we'll examine your options, taking into account the conditions of the real estate market right now. The homes on the market today fall into one of two groups Right now, there are two groups in terms of homes that are on the market. In the first group, we have houses with fair prices and in good or excellent condition. These houses sell in an average of 10 days. In the second group, there are homes that are not priced fairly and are not in good condition, and these homes sit on the market for 60 to 70 days and often sell after one or two price reductions. Are sellers offering concessions for homes that aren't move-in ready? In reality, we don't see many concessions for cosmetic improvements. Our real estate agents advise clients to price homes correctly from the start, meaning that the price reflects the state of the work needed. We are seeing more concessions being made on closing costs than recently, but that is generally to cover necessary repairs to a home. Does it make sense to improve my home before putting it up for sale? Our agents get this question very often and unfortunately there is no clear answer. Generally, the houses that are in the best condition are the ones that sell for much more than the asking price. However, the types of updates or repairs are different for every home, and the best thing you can do is contact your real estate agent many months before you plan to list your home to start a conversation about how to maximize the value of your home. Our agents offer a Physical startwhere you will be given a rough estimate of the value of your home in relation to the current market, as well as recommendations for repairs or improvements that will give you a return when you sell it. For example, many homeowners are surprised to discover that a large-scale kitchen or bathroom remodel doesn't make sense in terms of recouping their money years from now when they sell. Minor improvements to the kitchen or bathroom often pay off better than investing a lot of money in those areas. Exterior improvements are also always a good idea and often pay for themselves when the house is sold. It's never a bad idea to replace an old entry or garage door. Of course, there are always exceptions to the rule in terms of what you should or shouldn't upgrade, and these vary by area and even by neighborhood, so you should always contact a real estate agent who specializes in your general area first. Keepp reading: 14 items you shouldn't renovate before selling Visited 742 times, 35 visits today

Last updated on July 12, 2024 A mid-range bathroom remodel, which costs homeowners an average of $24,000 and allows for 70% of the money to be recouped at closing, is a project with a pretty good rate of return. Compared to a high-end bathroom renovation, where you can expect to spend nearly $72,000 and recoup only 42% when you sell your home, investing in a more modest bathroom remodel makes more financial sense if you plan to sell your home in the next 3 to 5 years. Are you interested in a bathroom remodel that fits your budget? Here are the most cost-effective ways to update your space: Subway tile Subway style tiles have been a staple in kitchens and bathrooms for decades. Homeowners can't seem to get enough of the clean lines and classic look of subway style tiles. If you want to save money on your bathroom remodel, choose inexpensive subway style tiles for your walls and shower surround for a timeless look and a money-saving option. Using leftovers Instead of dismantling a still-functional vanity just because it has an outdated countertop, keep the existing cabinets and use scraps from a flagstone patio for the countertop. Project costs can quickly add up when you start changing your bathroom space. To make the most of your smaller budget, work within the confines of the existing space and use smart storage solutions to solve space issues. Don't be carried away by the personalized A custom-made vanity can easily go over your budget. Shop around at big box stores and look for online options to find a more affordable vanity that fits your space and save thousands of dollars. New doors and drawer fronts Another option to save money on an old cabinet that is in good condition is to simply replace the doors and drawer fronts and paint everything in a color that complements the hard finishes/decor in your bathroom. Maintain the garden tub Instead of removing the garden tub and opting for a sleek freestanding tub, consider keeping the garden tub and updating it. Remove the dated tiles surrounding the garden tub and choose a neutral stone that will stand the test of time. Find out more Inspiration for your home here. Visited 814 times, 815 visit(s) today

Last updated on June 29, 2024 If you're thinking about putting your home on the market soon, you may be thinking about how to price it. You may have heard that we're in a seller's market, and while that's true, the way sellers priced their homes 2 years ago in the frenzy of a post-pandemic market isn't an advisable strategy today. Inventory is declining sharply and is projected to hit five-year highs in the second half of the year. While this increase in housing availability is unlikely to change the situation enough to favor buyers over sellers, it does reframe the conversation about home asking prices. How to Price Your Home in Today's Market Our advice to sellers is to price their home correctly from the start. In today's market there are two categories: The first group includes homes that are fairly priced and in excellent condition. These homes sell in an average of 10 days. In the second group, there are homes that are not priced right and are not in great condition, and these homes sit idle for 60 to 70 days and often sell after a price reduction or two. The right way to price your home is to let the market determine it. Instead of pricing your home based on your opinion, let the market determine the sales price for maximum exposure. Although there are fewer buyers on the market than this time last year, well-priced homes in good condition are still in high demand. Just to give you an idea of ​​what we're seeing nationally, 29% of homes sell over asking and the average number of offers each home receives is 3.1, so even though there are fewer buyers On the market, homes are still receiving multiple offers and closing above the asking price. The downside of overvaluing your home While it is true that there are more buyers than available homes, buyers look the other way when it comes to homes with an inflated asking price. Today's buyers are savvy, and given interest rates coupled with home price appreciation, an overpriced home will sit on the market. In a fast-paced market like the one we live in now, any home that stays and stays leaves buyers wondering what's wrong with it, and the longer it stays, the more this thought solidifies in buyers' minds. Typically, homes in this condition end up selling only after significantly reducing the price or a prolonged period on the market. For the best results when selling your home, we recommend that you hire an experienced agent whom you trust and who has a track record of success. It is important that the relationship is collaborative and that the agent helps you achieve your goals and objectives. Find other helpful articles on how to sell your house here. Visited 1,063 times, 3 visit(s) today