The Value of a Home A Seller\’s Guide
Houses. They are difficult things to own and difficult things to sell. The process by which can be demanding, both mentally, and emotionally, with highs and lows and different pieces of the property to manage. This is a quick guide to selling a property, what the best returns on investment are for renovations, different factors to consider.
52% of home buyers cited finding the right property as the most difficult part of buying a home. It is almost 38% cheaper to buy a home than rent in the top 100 cities in the United States, according to 2016 data. In 2015, there were 501,000 homes sold in the United States. And in March 2016, the average home sale price for a home in the United States was $186,000.
Selling a home can be a daunting experience. First, there was the decision to move in the first place. Whether for a better school district, more space, a less crime-ridden environment, or better access to different shops, highways, or entertainment districts, the decision to move to a new property and sell an old one is a time-consuming experience.
It may be both exciting and anxiety ridden. Trying to find the right buyer, trying to find the right price to sell, even trying to find the right realtor, all involve a certain amount of patience, all the while you\’re paying for your new location and absorbing two mortgages or a new rent payment.
The exciting part is this: You\’re moving to new digs, which have great possibility for your future. You\’re leaving behind the old home and moving to a new one, a new location, new opportunity, new people to be around. This is all very helpful to consider as you\’re selling your home.
As for the selling price, many factors can be considered. First is the original asking price. Although many homeowners will consider the value of the property to be the asking price, one authority says differently. HGTV, the television station that focuses on houses and home improvement projects, states that when selling your home take off 15-20% of the value.
Also, when getting ready to sell a home, consider the following upgrades to your home that have a quick return on investment.
First, there is landscaping. Many believe landscaping can have a return on investment of up to 150%. This is fairly easy to see when considering the importance of your yard or yards when selling the property.
The front yard sends an immediate message to any potential buyers on how you upkeep the house and maintain it generally. A well kept lawn sends the signal you are invested in the house and the appearance, while an unkempt lawn sends the signal you\’re an owner that has let things go a little bit, which could transfer over to the rest of the house.
A house with a good lawn and attractive lawn is likely to sell higher than an equal house with a less well-maintained lawn. Finding a way to mow your lawn, trim your bushes, get rids of rocks, trim your hedges, edge your lawn can all provide a strong return on investment for the value of your home.
Another option for renovating that has a high return on investment is the bathroom. Bathroom additions offer an average of 86.4% return on investment. These additions can include a new toilet, a new mirror, new tiles in the shower can all increase the value of the home.
After that, another great option for renovating is the kitchen. In fact, a minor kitchen remodel has a return on investment of 82.7%. A kitchen remodel can include a new sink, new counter tops, new flooring, new lighting, new appliances, even a new paint job.
Realtors will often go through with a home seller about the different parts to renovate to make it look more attractive to potential buyers. Real estate is a tricky business. Selling real estate and buying real estate is a difficult but rewarding process.
Finding houses that are suitable for you needs is an important step in the process. As said before, 52% of home buyers cited finding the right property as the most difficult part of buying a home. Making houses look attractive can increase the potential of finding a buyer.