Low Cost Kitchen Improvements that will Help You Sell Your Home

According to Remodeling magazine’s latest Cost vs. Value Report, a minor kitchen remodeling project averages around $20,000, and a full remodel averages at about $111,000. Whew! That’s a pretty hefty price to pay, there’s no doubt about that, but it may be a necessary cost. Recent research has shown that the kitchen is the #1 room in the that home buyers are concerned about. In other words, your kitchen can make or break the deal when trying to sell your home. That doesn’t mean that you have to pay $111,000 to sell your home though; here are some ways to improve your kitchen without breaking the bank.

  • Borrow ideas from kitchens remodels that you see on TV, in movies, and in home and design magazines
  • Even a smaller investment of just $5,000 can make a huge difference in the function and appearance of your kitchen
  • Repainting is a cheap and simple way to improve the look of your kitchen
  • If you have to replace the countertops, use laminate instead of granite
  • Stainless steel appliances are very popular right now. If you can’t afford to replace your appliances though, opt for a stainless steel trashcan, toaster, paper towel holder, etc.
  • If you can afford to replace some bigger appliances, replace the refrigerator and the stovetop. These appliances will stand out most
  • Let in the light. Big windows and skylights are real sellers in a kitchen, but if that’s not in the budget, simply add some lights under the cabinets to help brighten up the room
  • Larger floor tiles (16-22 inches) look more modern than smaller (8 inch) tiles
  • Replace dated cabinets if you can, repaint if you can’t.
  • Add more kitchen storage. If you don’t have extra closet or cabinet space in the kitchen, pick a close-by area to set up shelving or drawers for kitchen items, such as canned goods, or even appliances
  • Knock out a wall if you have a smaller kitchen; big, open kitchens are more efficient and more popular with buyers in today’s housing market
  • If you plan on completely remodeling, or even just doing serious updating, it may be best to hire an architect or designer to help you with the project

Read the full article here.



9 Tips for FSBO Sellers

If you’re looking to list and sell your own home this fall, we’ve got some useful tips for you. Remember, selling your own home is very different from hiring a realtor to do it for you. So, if you’ve used a realtor before, or you know someone who has, don’t expect that same experience. Being a For Sale By Owner (FSBO) seller is a lot of work, but don’t worry, we’re here to help!

  1. Make sure you have a strategy in mind; what are you going to highlight about your home? What is the price going to be? What is your selling timeline? Are you going to have help from anyone? Who?…etc.
  2. You will need to have a marketing budget. This fund should account for costs of photography, home repairs, staging, advertisements, and more.
  3. It’s nearly impossible to sell a messy or extremely out-of-date home. You need to reduce clutter, landscape, update, and clean your home and yard before listing.
  4. Make sure that you have a complete understanding of the rules, regulations, and paperwork required in selling a home.
  5. Don’t rule out asking for advice or assistance when you need to, especially if you are facing foreclosure and need to sell your home quickly.
  6. Know what your home is really worth. Check out the Comparative Market Analysis (CMA) reports and go from there.
  7. What was right for you might not be right for your buyers; be prepared to make changes, updates, and upgrades to really sell buyers on your home.
  8. Buyers will make reasonable requests (replace the stained carpet in the dining room), and they will make unreasonable ones (add an in-ground pool). Know which is which and have a plan ahead of time for how to deal with these requests.
  9. Be prepared for countless buyers coming to see your home at all hours of the day. Without a realtor to set guidelines for showings, you’re the one who has to deal with this.

To see the original article from Inman News, click here!

5 Ways to Cut Mortgage Costs

When you own a home, it becomes your most important and most expensive asset, so it only makes sense that your mortgage payments are pretty costly. The good news is, there are quite a few ways for you to cut your mortgage costs and perhaps even shorten the life of your loan.

The simplest way to cut mortgage costs is to make an extra payment on your mortgage each year. This may sound counterproductive, but in fact, making these extra payments ahead of time helps save you tons of money in interest costs. Extra payments will also help you shorten the life of your loan. Bi-weekly payments will help you to pay more throughout the year. By making a half-payment every 2 weeks (versus a full payment every month) you will make 13 full payments in a year (versus 12).

If you have Private Mortgage Insurance (PMI), drop it. Once your mortgage balance goes below 80% of the home’s value, you can petition to cancel your PMI, which could take hundreds off of your monthly mortgage payment.

If you think your home’s value may have dropped within the last year, have it re-assessed. If the value has gone down, your yearly taxes should go down with it.

Talk to your lender about resetting/ recasting your monthly mortgage payment; he or she will be able to tell you if you are eligible for this. If you are eligible, the life of your loan may be shortened and/or you may be able to make smaller monthly payments.

You can also talk to your lender about refinancing. Refinancing will allow you to have a lower interest rate on your mortgage; this is especially important right now because rates are at historic lows. NOTE: there are fees associated with refinancing, so talk to your lender and/or financial advisor before going ahead with it.

For more tips on saving money on your mortgage, click here.

How to Get the Best Possible Price for your Home in Bainbridge or Auburn Township

There are many things that you can do, as a seller, to ensure that you are getting the best price for your home. The more homebuyers you attract to your home for sale, the higher the chance that the right person will see it and you will get the best price from the sale of your home. The following is a list of things to consider when you are selling your home in Bainbridge or Auburn Township, to ensure that you are doing everything you can to attract the perfect buyer.

Know Your Price

You can look at the Comparative Market Analysis (CMA) for your area (online), or talk to a realtor in Bainbridge or Auburn Township to find out the prices of comparable homes that have sold in the area; these resources will be able to give you information that will help you get the best price from the sale of your home.

  • How quickly are homes in Bainbridge/Auburn Township selling?
  • What was the average price of homes that sold these areas?
  • How does your home compare to others that have sold in the area (smaller, nicer, older, closer to schools, etc.)?

Curb Appeal

Curb appeal is the first impression of your home to potential buyers, and, if done properly, will ensure that you are getting the best price from the sale of your home. In the summer, ensure your garden features colorful flowers, that your landscape is properly watered and cared for, and in the winter make sure that your sidewalks are cleared of all snow and ice. Also, if you need to, touch up any chipping paint on the outside of the house.

Staging Your Home

Staging your home is one of the most important places to invest money if you can’t do it yourself. A professional stager can get the best price from the sale of your home by rearranging and even removing furniture and other items in your home to make it more appealing to a potential buyer.

Make All Necessary Repairs

  • Fix plumbing issues in your bathroom, and repair cupboard doors; small problems can seem like big ones to buyers.
  • Replacing dirty or smelly carpets is a very small expense that can make a big difference.
  • Are your appliances in great working order? Homeowners like new appliances, and replacing your old ones can attract many potential buyers to your home.
  • Paint walls that look unattractive. Paint is the cheapest investment you can make in attracting buyers and get the best price from the sale of your home.

How to tell if My Asking Price is Right

Is your asking price right? Is it too high? Too low? Pricing your home correctly from the start is very important; not doing so will certainly waste your time and money, as well as the time and money of potential buyers. And price reductions are something to steer clear of, so, here are some tips to help you avoid this and get your price right the first time.

  • Price your home according to homes in the area that have already sold
  • Don’t price your home according to surrounding homes that are still for sale
  • Pay attention to marketing trends in the area, and realize that these trends will affect the price and value of your home
  • Don’t price your home based on updates and improvements you’ve made
  • To price your home, use a newer appraisal (less than 3 months old)
  • Price your home in accordance with similar homes in the area, not higher or lower
  • Understand that buyers do not have the same special attachment to your home as you do, and they will not be willing to pay more for your home just because you think it’s special

If you didn’t price your home according to these rules, your home could be overpriced; here are a few ways to tell if your home is overpriced:

  • Despite several showings, you haven’t had an offer
  • Your home may also be overpriced if it’s been on the market for over 6 months
  • If your realtor thinks your home is incorrectly priced, they’re probably right
  • If you’ve marketed your home for a showing, but haven’t actually had any, your price and your home have been rejected from the market

Pricing your home too high or too low can be detrimental on many levels. The longer it takes your home to sell, the more money you are spending on marketing costs, rent, upkeep, etc. And if your home sells for too little, you’re also losing money. Talk to a realtor and make sure that your price is reasonable and fair so that both you and the buyer are happy.

This article and more was found on Realtor.com. Great advice for all! Check it out.