Gordon Avery's Blog
Ready to sell your house? Ultimately, you should conduct a home appraisal before you add your residence to the housing market, and for good reason.
A home appraisal enables you to better understand what your home is worth. Plus, an expert home appraiser will be able to offer comprehensive insights into your house's strengths and weaknesses so you can prioritize assorted home improvement projects accordingly.
Preparing your home for an appraisal may prove to be exceedingly valuable. If you allocate time and resources to get your house ready for an appraisal, you can increase your chances of getting favorable results during the appraisal itself.
What does it take to prep your house for an appraisal? Here are three tips to ensure you can do just that.
1. Consider a Home Appraiser's Perspective.
A home appraiser has an eye for detail, one that helps this professional understand whether a house is a viable long-term investment. Meanwhile, a home seller who steps into a property appraiser's shoes may be better equipped than others to enhance his or her residence.
For example, a home seller should evaluate a house's interior and exterior prior to an appraisal. And if you notice chipped paint on a home's walls, cracked shingles on a home's exterior or other cosmetic issues, you should address these problems immediately.
Even minor cosmetic issues can negatively affect a home's value. However, a home seller who goes above and beyond the call of duty to correct these problems may be able to improve his or her house's appearance before a home appraisal.
2. Conduct Plenty of Housing Market Research.
How does your residence stack up against the competition? Learn about the local housing market, and you can find out what you'll need to do to differentiate your residence from similar properties.
An home seller should learn about the prices of recently sold residences as well as homes that are currently available. That way, you can set realistic expectations for your home appraisal.
3. Collaborate with a Real Estate Agent.
A home appraisal can be a stressful experience, especially for a first-time home seller. Lucky for you, real estate agents are available to help you streamline the home appraisal process.
Typically, a real estate agent will guide you along the home selling process. He or she can connect you with qualified home appraisers in your area and ensure you can find a home appraiser who will provide honest, unbiased feedback about your residence.
A real estate agent also will help you maximize the value of your house. This housing market professional will ensure you can set a fair price for your residence and market your home to the right groups of homebuyers. He or she will even set up home showings and open houses and negotiate with homebuyers on your behalf to further simplify the home selling process.
When it comes to getting a home appraisal, there is no need to worry. Use the aforementioned tips, and you can plan ahead for a home appraisal.
For some, house hacking is the key to getting started in real estate; for others, it's just a smart way to build cash flow into an otherwise uncooperative rental market. Wondering how to get your foot in the door? Here's what you need to know.
What is House Hacking?
The term "house hacking" was coined by Bigger Pockets, but in general, the practice has been going on for as long as people have been owning and renting properties. House hacking refers to renting out a part of your primary residence. Generally, that means owning a duplex, triplex, or quadruplex, living in one unit, and renting out the rest. For some, it means renting out one or more rooms of a single-family residence. In an ideal scenario, house hackers can essentially live for free--allowing the rental income from the space they rent out to pay for the mortgage and maintenance of the entire property.
Why is House Hacking a Smart First Investment?
As with any investment, the viability of house hacking depends on the market in your area. But for many who want to get into real estate investing but haven't yet taken the plunge, it's a smart step.
- Owner-occupants enjoy the best financing terms. When you plan to use the property as your principal residence, you'll get lower down payments (as low as 0-5%, in the case of VA and FHA loans) and lower interest rates.
- House hacking serves as training for managing more tenants. Because you'll be living in close proximity to your tenants, it will be easier to keep an eye on your property and address repairs and other issues as they arise. It's a great way to earn a few notches in your landlord belt before purchasing more rental properties in the future.
- When you decide to move out, you can rent out the final unit (or the primary house) and enjoy the full benefits of positive cash flow thanks to your low-interest-rate home.
An Accessible Way to Start Small
Step one: talk to a lender. If you can get pre-approved for a single family residence, you can get pre-approved for a duplex (or larger).
Already own a home? Consider renting out an extra bedroom, or finishing the basement to rent out as an ADU. And even if you don't net massive positive cash flow at first, you'll massively offset your own cost of living, while gaining valuable experience as an investor and property manager.
One of the most used rooms in the house is the bathroom. You do spend a lot of time in there. You want your bathroom to be an oasis of sorts. Making changes and renovations to your bathroom will not only make you happy but make potential buyers for your home happy as well. Below, you’ll find some trends to keep your bathroom stylish and a place that everyone wants to spend (at least some) time in.
Beware Of Design Trends
There’s a lot of trendy designs that just aren’t timeless. They don’t look very good in a bathroom after the initial install and tend to give the bathroom a drab feeling after awhile. Whether it’s a crazy color scheme or something bland that lacks texture, you need to think about the longevity of a look before you go after it in your bathroom. Some trends to look out for:
- Too much white
- Too little in the bathroom
- Funky color schemes
- Gigantic bathtubs
- Certain kinds of tile and finishes
- Hardware accents
Really, the bathroom needs to be about balance. There are trends that come and go. Some people are more receptive to certain designs than others. This is because their needs are suited. Take the his and her sink as an example. Many designers are shying away from this trend. For your routines and needs, this could be exactly what your bathroom needs. No hotlist can tell you what’s best for you.
Storage Is A Necessity
If you do only one thing in your bathroom, make sure that you have enough storage. There’s quite a bit that needs to go in the bathroom like toilet paper, towels, cleaners, medicines, as well as bath products like soap and shampoo.
Add Pops Of Color
If your bathroom has all white tile and you don’t have the time or the resources to actually change the tile, you should try and add pops of color where you can. It’s simple to do this with towels, floral rugs, curtains, and even bath accessories. You can really vary the color in the room and make it special. This is one renovation that doesn’t cost much to do but can make a big difference.
Remember What Sells
More neutral colors tend to sell better no matter what room of the house we’re talking about. It’s fine to mix neutral colors with pops of something bolder, but don’t go overboard. Remember that when someone goes to buy your home, they want to make it their own as well. They probably can’t achieve that with a lime green bathroom.
69 Chipman Rd, Middlefield, MA 01243
If you intend to sell a home, it helps to allocate time and resources to produce an effective property listing. Ultimately, a house listing can help a property seller make a positive first impression on potential buyers. And if a listing is informative and engaging, it may lead a buyer to set up a house showing.
Now, let's take a look at three tips to help you craft a house listing that hits the mark with prospective buyers.
1. Analyze the Buyer's Perspective
Think about why a buyer may pursue your house over all other available properties. Then, you can put together a home listing that accounts for the buyer's perspective.
As a home seller, your goal is to stir up interest from as many potential buyers as you can. If you assess the buyer's perspective closely, you can craft a home listing that accounts for key factors that distinguish your residence from other properties. And as a result, your home listing may help you make your house an attractive choice to dozens of prospective buyers.
2. Provide Accurate Home Information
Although you may be tempted to stretch the truth when you craft your home listing, there is no reason to do so. Because if you try to hide home problems from buyers, you may put a property sale in jeopardy down the line.
On the other hand, if you include accurate home information in your listing, you can help a buyer make an informed decision about your house. And if a buyer finds your home may match his or her expectations, this individual could set up a showing to take an in-depth look at your residence.
3. Include High-Resolution Photos of Your Home
High-resolution photos that show off the beauty of your kitchen, bedrooms and other areas of your house are must-haves in your property listing. In some instances, you may be able to capture spectacular images of your home with your camera or smartphone. Or, you can hire a professional real estate photographer to take pictures of your home for a property listing.
Clearly, there are many things you can do to transform an ordinary house listing into an exceptional one. And if you work with a real estate agent, you can get expert help as you prepare a home listing and perform other house selling tasks.
A real estate agent understands how to sell a residence and is happy to share his or her housing market insights with you. This housing market professional can help you promote your home to prospective buyers, review any offers to purchase your residence and much more. Perhaps best of all, a real estate agent will provide honest, unbiased home selling recommendations to ensure you can maximize your house sale earnings.
Prioritize your home listing – you'll be glad you did. If you devote the necessary time and resources to craft a listing that highlights your home's features, you may be better equipped than ever before to enjoy a successful property selling experience.