Easy Renovation Projects That Can Help Sell Your Home

Moving can be stressful, and getting a good price for your home can be even more so. Fortunately, there are several easy and low-cost projects that you can take on to make your house look fresh and new.

The first and most important step that you should take before showing your home is also the easiest. By cleaning up the house and putting away knick-knacks and unnecessary furniture, you will create a sense of openness in the home. This will make the property seem larger, which will attract more people.

Next, it’s time to depersonalize your home. While it might be a tough thing to do, try to remove yourself from the home in an emotional sense and take down any personal items in your rooms. Family photos, children’s drawings and other personal possessions may say “home” to you, but they will say “someone else’s home” to potential buyers. Removing personal items will allow buyers to see their own family in the house rather than yours.

Once you’ve done the easy work around the house, it’s time to focus on two of the most important rooms: the bathroom and the kitchen. These are rooms that can make or break a sale, so it’s important to get yours in top condition. Old bathrooms are generally not very attractive to new buyers, so replace any outdated tiles and re-paint any molding or vanity features that may look a bit worn. You can also replace handles, toilet paper holders and towel racks for a small price to make a big difference.

When it comes to the kitchen, re-facing cabinets is a great option if you can afford it, but for an inexpensive shortcut you may want to simply apply a fresh coat of paint. The same goes for your sink backsplash. Replacing old tiles will be your best option, but painting over them can also be an effective way to make them look good as new. Just like with your bathroom, try to update small features in your kitchen, such as your paper towel holder and your cabinet handles. This will make for an unified overall look.

Making your home as tidy as possible and adding some small finishing touches could make a huge difference in how quickly and for how much you sell your home. By removing yourself from the situation and putting yourself in the buyer’s shoes, you will be able to determine what is attractive and what should be changed in order to make the sale.

If you’d like to learn more about how you can enhance the attractiveness of your home to potential buyers, work with a qualified Chester County real estate agent. This individual will be able to give you helpful tips and advice on how you can make the most of the spaces in your house.

Is Real Estate a Good Investment? You Bet!

Real estate can be a lucrative investment when purchases are well executed. Investors have been noticing large returns as a result of several income streams coming in, and with the right plan of action you can see yourself get the same results.

Here are some elements to look at when decided whether to invest in a piece of real estate:

1) Appreciation: The appreciation of rental properties has a direct correlation with inflation, meaning that as inflation increases, so does the value of the property. Increased value can lead to higher sales and reinvestment, or at the very least it can give an equity line of credit that could be put toward other investments.

2) Inflation: Because the cost of rent increases with inflation while mortgage payments remain the same, inflation is good for renting out property and can lead to increased income for you. An increase in inflation can also lead to a larger number of renters due to the fact that purchasing a home may be an option for fewer individuals. Because the amount of demand will increase, the cost of rent may increase, as well.

3) Yield: Calculated as either net or gross, the rental yield is the percent of yield from the direct rental income. The net yield takes all costs (including taxes) and divides it by the value of the property. This is the calculation that’s preferred by investor experts, and it does not take mortgage payments into account.

4) Leverage: You will get better returns if you use leverage and are careful to find properties with good rental yields. By using a certain amount of money to put down payments on three properties instead of putting it all toward one, you can greatly increase your return. However, be sure to take the risks into consideration before jumping into this option. You will need to be sure that you’re able to find renters for each of your properties.

5) Improvement: Quite a few investors will purposely buy properties that lack certain features, with the intentions of fixing them up to increase their value. There are many homes that have great potential, but simply need some work done. If the value of the home after renovations will exceed the cost of the renovations, then it’s a worthwhile investment.

Investors have been known to use one or more of these factors to increase their chances of having a large return on their properties. All five can be excellent options for real estate investing, but be sure to do your research before beginning your endeavors. Once you take the economy, your local real estate trends and renovation costs into account, you could end up a wise investor yourself!

Get Familiar with Your Real Estate Market Before Selling

Every city, town or village is different, and you’ll experience a different real estate market in each area that you visit. That’s why it’s important to do your homework regarding the trends where you live before putting your house up for sale. Doing the right investigative work will help you determine what the buyers in your area are looking for and how you can market your home to fit their needs in order to get the best price possible for your home.

Begin your investigation by searching online for houses in your area that have recently sold. Compare them to each other to determine what features they all have in common, and then compare them to your own home to see whether or not your house stands up to the marketing demands in the neighborhood.

Don’t limit yourself to only focusing on the success stories. Take a look at homes in your neighborhood that have been on the market for a long time. Compare and contrast your own home to these, and try to market yours in a way that’s closer to the homes that have sold more quickly.

Not only will researching local market trends give you a good idea on how to sell your home, but it will also give you a good idea on when to do so. In general, the best time to sell a home is between March and July, when most people are out searching. Take a look at local properties similar to yours and determine when the best time for selling is in your area. Knowing the amount of demand where you live at a given time will help you negotiate with potential buyers and keep you well prepared for answering questions that they might have.

When marketing your home, be sure to take into consideration the type of person who will be looking to buy it. Is it a single-family home? A small condo? Rearranging furniture and redecorating your living areas accordingly can make all the difference when it comes to making the right impression on the right person. The goal is to paint a picture of perfection for your buyers by creating a living space that they can see themselves in.

If you are selling to a family, be sure they know about local schools, and if you are selling to a younger couple, be sure they know about local social life. Keeping in touch with the neighborhood and staying knowledgeable about the types of people your house will attract will keep you on your toes and ready to market your home effectively.

If you need help selling your home in suburban Philadelphia, it’s important to consult with an experienced realtor in your area. This individual will know the market well, and will help you identify potential buyers efficiently and effectively.

The Best Time to Sell Real Estate: Now!

Deciding on the right time to sell your home can be challenging, and it can really be different for everyone. Depending on what’s going on in your life, you may want to wait for the industry to recover, but if you want to be out of your house in the next six to 18 months, then the time is now.

Here are some tips on the best times to sell your property:

1) It’s the best time of the year. The most common time for buyers to look for houses is between the months of March and July. After that point, the market typically levels off and then picks up again in September and October. Don’t miss your chance to catch potential buyers at this crucial time. Not only will you find more hopefuls in the spring and early fall, but it will be easier for you to give your home curb appeal during these months than in the winter.

2) It’s a great time to upgrade. It’s a buyer’s market and there’s no better time for you to upgrade to a more desirable home. Interest rates are at an all-time low, and moving into a more sought-after property now will provide you with more opportunity to gain equity in the future. There has never been a better time for you to sell your current house and upgrade.

3) It’s early enough to beat the competition. There is expected to be an increase in distressed properties, including short sales and foreclosures, beginning in the fall. These low-priced houses will be extremely appealing to potential buyers who will be able to get a good-sized home with an inexpensive price tag. Distressed properties are expected to affect the market for at least the next 12-18 months, so get your house in the public eye now before they become your competition later.

4) It’s the push you need to move out and move on. With lending standards tightening and demand lessening, mortgages are becoming more difficult to obtain. To sit around and wait for the market to improve is to wait for something that may not occur for quite some time. There’s a reason you want to sell your home, and you shouldn’t let a less-than-desirable real estate market hinder you from making a crucial life choice for you and your family.

Talk with your family about your reasons for moving. Answers will differ for every household, but it’s up to you to decide what’s right for you.

If you need help making this decision, speak with a qualified real estate agent.

The Four Main Different Types of Deeds to Convey Title

There are four main types of deeds used in real estate to convey title, and they vary based on who is using them and what they are being used for. Before you buy your next home, make sure that you are getting a deed that will benefit you the most.

The following is a rundown of the types of deeds and how they are used:

General Warranty: A general warranty deed offers the best protection for buyers. In a general warranty deed, the grantor is bound by certain warranties, which may include ones that are specifically stated or ones that are implied. These may also involve a covenant against encumbrances, a covenant of seisin, a covenant of quiet enjoyment or a covenant of further assurance.

A general warranty deed will extend through the entire lifespan of the property rather than just the period in which the seller lived there. Therefore, the seller or grantor is responsible not only for title issues that occurred while they were living there, but also for those that occurred before their ownership of the property.

Special Warranty: The person who grants a special warranty deed will give two warranties. The first is simply that the grantor has received the title. The second warranty is that the grantor acknowledges that the property was not encumbered while they owned it.

In short, the special warranty only covers any title problems that may have occurred while the grantor owned the property. These deeds are typically used by trustees and executors, and are far less beneficial to most buyers than the general warranty deed.

Bargain and Sale: The bargain and sale deed only warrants that the grantor has the title to the property. It doesn’t warrant against any encumbrances and doesn’t promise that the title held by the grantor is in good standing. These deeds are typically used for foreclosures and tax sales.

Quitclaim: A quitclaim deed offers the least amount of protection for buyers. It gives the buyer no covenants or warranties, and only conveys interests that the grantor has in the property. These deeds are typically used for transferring property from one family member to another and for fixing problems in the title.

Working through the process of determining a deed can be complicated process, and to get the most out of this experience, you should work with a highly qualified, experienced real estate agent in the Chester County area.