How Much to Spend to Increase Curb Appeal?
When investing in landscaping, try to get the most bang for the least amount of buck. You never want to spend a huge amount of money on a property if you’re planning on selling in the near future.
The idea is to do whatever is necessary to make the yard look clean and efficient. Buyers want a home that is easy to maintain. Prune the shrubs, keep the grass nicely mowed and green, and possibly add colorful flowers near the entry ways.
Make sure that your yard is not extravagant when compared to the other
homes in the neighborhood. A buyer will only pay as much as the other homes in the neighborhood are selling for. Therefore, if you overspend, it is unlikely that you will be able to recover your expenses.
Where Do Remodeling Dollars Pay Off Most?
It’s a proven fact that certain home improvement projects pay off when it comes time to sell, while others do not. If you’re looking into doing some remodeling to improve your home’s appeal now, don’t forget to take into account which projects will make a difference if you sell in the future.
Kitchen and bath improvements are high on the list of what buyers are willing to pay more for. Also, additions such as sunrooms are very popular. Try not to do anything that would be considered extreme or outrageous. Homes with very unique tastes are usually hard to find the right buyer for later.
Repainting in more neutral colors almost always pays off, and adding on a new deck is a good investment as long as the costs are not too unreasonable.
If a remodeling project is done by a professional, it is worth more in the long run. Ask your neighbors for recommendations of contractors that they’ve used, or give me a call for my list of people.
A good rule of thumb is to confine your total remodeling expenses to 10% of the homes estimated value. If you stay within this figure and plan wisely, you’ll most likely recoup most of your investment.
Sell Your Home or Become a Landlord?
Renting your home out may seem like a great alternative to selling at a lower price than expected, but make sure you consider the financial implications.
If the main idea in renting the house is to move now and sell later, be sure to factor in the costs which may occur when reconditioning the rental home for sale as a residence. Chances are the aggravation of converting your home to a rental will exceed any contribution to costs or profits.
Most importantly, keep in mind that being a landlord can be difficult. Tenants will demand that repairs and home maintenance be kept up with in a timely manner. Expenses can be quite substantial, so be prepared with funds to cover them. Feel free to ask me for more information on sales or rental, anytime!