Not all remodeling projects deliver the same bang for the buck when it comes to resale. If you are planning to sell soon and think that renovations will increase the value of your home, then some research might be in order. Studies suggest that most renovation projects do increase the value, however, the increase is typically less than the cost of the project. Generally, a homeowner will experience a return of 60% to 80% on the dollar at resale. Some of the more cost effective improvements are minor kitchen remodel, deck addition, and window replacements. Keep in mind the cost recouped can be affected by the quality of finish and even the type of neighborhood and local conditions.
Probably the biggest advantage that remodeling has is the fact that it increases the appeal of your home to buyers. A gleaming state of the art kitchen with granite countertops and bathrooms with tile and glass can sell a house more quickly than a home with an outdated kitchen and old appliances. Email me at donna@donnaforest.com if you would like a free copy of the 2014 Remodeling Cost vs. Value Report. 603-526-4116
When selling your house, the emphasis is usually on the interior. However, good landscaping can make the difference between a buyer wanting to see the house or not. And since most buyers look on line first, it’s even more important to have good exterior photos. Here are a few do’s and don’ts:
- Keep the landscaping natural with native plants and interesting foliage. Rounded junipers and topiary shrubs are out.
- Steer away from planting a high-maintenance yard. Few buyers want to invest serious time in pruning, mowing, etc.
- Get rid of any lawn ornaments.
- Avoid the “new construction” look – barren yards lack appeal.
- Maintain what landscaping you have. Overgrown hedges, bushes too close to the house, hanging tree limbs over roofs, and roots buckling the driveway send the message that the inside of the house is ill-kept as well.
Properties with high quality plants and mature landscaping create a competitive advantage over homes with bare bones landscaping. An important factor considering today’s market! Contact me to work with a REALTOR® who can help you get a competitive advantage on selling. 603-526-4116, donnaforest.com, donna@donnaforest.com.
No, I’m not referring to your evening cocktail! I’m talking about water. More specifically, water from a private well. Many of us just assume when we turn on the faucet, the water is safe to drink – especially if it is from a drilled well. The reality is many wells have unhealthy levels of naturally occurring arsenic, radon, or other contaminants that have been linked to cancer and toxicity. DES estimates that 20% of private wells in NH have more arsenic than is allowed in public water systems. Many contaminants have no taste, odor, or color so testing is the only way to detect them. The good news is that if you sample your well and find contaminants, treatment systems are available. While there is no state requirement, DES recommends that well owners test their water every 3-5 years. To get more information on testing recommendations and a list of accredited labs, visit www.des.nh.gov. If you are selling, it is in your best interest to test your well water and know ahead of time if there are any issues. Almost every buyer will have an inspection done and will want to know how safe the drinking water really is. Bottom line, whether buying, selling, or just staying put, it makes good sense to get your water tested! If you are buying or selling, contact me and put my 20 years of experience to work for you. donna@donnaforest.com, www.donnaforest.com, 603-526-4116.
Known for service, trusted for results – Coldwell Banker Milestone Real Estate.
It’s time to go to the closing. How should buyers & sellers prepare so all goes smoothly? While the closing agent (an attorney or title company) handles most of the details, there are some actions you can take to avoid last minute surprises. Be sure you know where the closing is and at what time and bring photo ID. Your REALTOR® should review the closing statement with you for accuracy prior to the closing. Buyers should bring closing funds in the form of a certified or cashier’s check. Funds can also be wired, as long as it’s done in time to arrive for the closing. This usually means at least a day ahead. Wiring is not instantaneous. Sellers should bring the new deed, keys, and paid receipts if work had to be completed as part of the contract. Be aware that it is customary for the closing agent to disburse monies after depositing collected funds and recording the deed at the appropriate Registry of Deeds. This means there could be a delay in disbursement after the actual closing. Again, keep in mind that even wired funds take some time. The bottom line is that if you’re well prepared, closing day will be exciting and stress-free! Call me if you want to work with a REALTOR® who will make your closings stress-free. 603-526-4116, donna@donnaforest.com, www.donnaforest.com
Known for service, trusted for results – Coldwell Banker Milestone Real Estate
The purchasing decision of a buyer is actually a lifestyle choice. Even though price is an important factor, it really boils down to how the house makes the buyer feel. Sellers need to prepare their property to appeal to the emotional side of buyers. This can be done by creating a series of impressions that help buyers imagine living in the home. Here are some useful tips for preparing your house for sale.
- Uncluttering is the most important and least expensive step. No one wants a house that feels small. You need to show buyers there is room for their things.
- Cleaning. A sparkling clean house tells buyers how well-cared for the home is.
- Be odor neutral. Pet smells and odors are an immediate turn-off. And no, Glade plug-ins are not the answer.
- Repair anything that needs fixing. This will show buyers there is no work to be done and the house is move-in ready.
- Staging. You want to evoke emotions that this is ”home”. Rearrange furniture, buy new shower curtains & towels, replace dated light fixtures, etc.
When a buyer steps through the door, you control over 70% of their first impressions. Lack of cleanliness, clutter, and odor are the top objections that impact buyers and are the least expensive to fix. Give me a call if you want to put my home selling expertise to work for you, 603-526-4116, donna@donnaforest.com, www.donnaforest.com
If you are putting your house on the market, there is a Property Disclosure form to fill out. You may think, what a nuisance; maybe I can skip over some of the questions. Beware – this will come back to bite you! Withholding pertinent information about the property has serious consequences. A thorough disclosure will protect the buyer as well as you. Most buyers appreciate knowing as much as possible about a house before buying it. They can live with it not being perfect as long as they know about the issues up front and have had a chance to investigate and digest them.
Lawsuits can happen when information is withheld. Not only should you disclose current issues, but it also may be a good idea to disclose any past problems that have been repaired or areas that require routine maintenance. A word of caution on past repairs – don’t guarantee that the problems are fixed. This implies that they will never come back. Rather, be specific on how they were handled. Also, don’t guess when filling out the disclosure; if you don’t know, then indicate that it is unknown. On the other hand, don’t just fill in unknown because it is easy and avoids problems. A thorough and properly filled out disclosure may help keep you out of court! If you’d like to work with a REALTOR® who is on top of all the details, then give me a call. 603-526-4116, www.donnaforest.com.
Known for service, trusted for results – Coldwell Banker Milestone Real Estate.
The reality of today’s market is that it is still a buyers’ market and houses, on average, take about 6 months to sell. Here are some thoughts to help properly position your house for success.
- Price it correctly. If you need a quicker sale than the average days on market, then under price it. Most sellers tend to set the price too high, thinking their house is worth more than it really is. Check comparable prices of solds as well as what is on the market and price it less than your closest competition.
- Have your house in ready-to-show condition at all times. Place as few restrictions on showings as possible.
- Create great curb appeal. First impressions count.
- Get a home inspection and repair any deficiencies.
- Make your house more attractive than your competitors – de-clutter, clean, paint, update, and stage the property.
The key is to set realistic goals and work a little harder at having your property in “showing condition.” Give me a call if you are looking for a REALTOR® who can put you ahead of the game with proper pricing and preparation advice. 603-526-4116, donna@donnaforest.com, www.donnaforest.com
Buyers consider 5 things when looking for a home to purchase:
- Location– 75% time cheap one but while setting healthy best.
of the buyers’ decision is based on the neighborhood, how close to the job, where to shop, etc.
- Size – The median size of a home sold was 1900 square feet. 83% of buyers purchased a 3 bedroom home
- Features – Buyers will give up features to get size and location
- Condition – Buyers want move in condition
- Price – Buyers are looking for the best value
Sellers have the most control over condition and pricing. To optimize the chances of selling, the house needs to be in tip top condition and the best value out casino online there in order to attract buyers. Sellers – you are competing with other homes for buyers. If your house is right on the road, or needs a new roof, or has a dated kitchen for example, it needs to be priced low enough so buyers are willing to overlook these objections. Bottom line, sellers need to be realistic about how their property fits into what buyers want and price accordingly. Contact me if you want to work with a REALTOR® who can help you price your house for success. donna@donnaforest.com, 603-526-4116
Donna Forest, Broker Associate, ABR
The National Association of Home Builders recently published a nationwide survey of buyers providing an inside look at what buyers want or don’t want in a home. While geared towards the building industry, it is useful for sellers to be aware of what buyers are looking for when they are shopping for a home. Of particular note, the survey found that buyers are much more price-sensitive now. Here’s a sampling what the survey found:
- The top most desired feature is energy efficiency (energy star-rated appliances, windows, etc)
- High end amenities are more important than available living space (e.g., French doors, double sink in kitchen, tub and separate shower in master bath)
- More than half surveyed prefer a 2-car garage
- Open kitchen and family room design is still popular
- Organization & storage is important – laundry rooms, linen closets, garage storage, etc.
- They want technology – from wireless security systems to whole house electronic controls
- Most buyers did not want laminate countertops or 2-story great rooms
In short, the lack of certain features in a house can impact its desirability from a buyer’s perspective. If you want to work with a REALTOR® who is in the know on current trends, then give me a call! 603-526-4116; www.donnaforest.com
In my 19 years of selling real estate, there are a few common maintenance items that frequently come up as points of contention during a home inspection. You can save time, added stress, and possibly avoid renegotiating your selling price by addressing them BEFORE your property goes on the market.
- Service your furnace. If it’s been a few years since your last service, have it done and keep a record on hand to prove it.
- Pump your septic tank. Septic tanks should be pumped every few years as it is.
- Clean and seal your chimney and make sure it is in good repair. Poor flashing around the chimney can be an issue so check that as well.
- Test your drinking water and include testing for radon, uranium and arsenic. Better to deal with these issues up front. If you have a dug well, it is very important to have a water test – dug wells are highly susceptible to coliform bacteria.
- Touch up any flaking paint. Not only does this help with curb appeal, but also if a buyer uses an FHA loan, there cannot be ANY peeling paint either inside or out.
If you are looking for more ideas on how to expedite the sale of your house, visit my website at www.DonnaForest.com and click on Real Estate Tips.