Making Your Home Improvement Dollars Count

Posted on

Apr 03, 2018

share-this
Share This
To update, or not to update: that is the question.
The question real estate agents repeatedly hear from homeowners is, Why would I do anything to my house if Im going to sell it anyway? Conventional wisdom tells us that we should avoid doing anything to our homes that the new owners may not like and will change the moment they move in. The reality is much different, however. Because home prices have risen so dramatically over the past five years, homebuyers have little to no money to improve the home they just purchased. With the cost of borrowing money currently so low, buyers dont mind spending more if the home is move-in ready.

When evaluating where to spend the money, assign your projects into two categories: 1) deferred maintenance and 2) cosmetic improvements. Deferred maintenance should take priority: a furnace that is on its last leg, a leaky faucet, or a deck with peeling paint are some examples. Addressing these will not precipitate a high return on investment (ROI), but ignoring them will significantly decrease your sales price, and may even turn away buyers from considering your home. Once priority items are completed, consider budgeting for cosmetic items, which will bring the highest ROI. Home design trends are cyclical and what was in style last year may not be next year. Focus on updating the appearance of your flooring and paint. Your current carpet may last you another 10 years, but nothing transforms a space more effectively than new carpet. Carpets that are a mix of neutral beiges and creams are the most appealing to the buying public. Be careful not to spend more than $5 per square foot for carpet, pad, and installation. The cost to replace carpet typically brings a three-to-one ROI at the time of sale. When combined with new paint, new flooring gives a property a new home smell, neutralizing the evidence of years of living, cooking, and even smoking. Fresh, neutral paint also enhances the appearance of a home, providing a blank canvas that allows a homebuyer to easily visualize their own dcor and furniture in the home.

Editors Note: This article was submitted by Blair Bryant of The Steller Group at Keller Williams Realty. He may be reached at 720-593-9355

Other Articles You May Like

The Hidden Dangers of Dehydration for Seniors on Medication

As the summer heat intensifies across the country, dehydration becomes a common and potentially dangerous concern. This condition can have severe implications, particularly for seniors who are more vulnerable due to several physiological factors. Seniors face unique challenges, especially when it comes to the impact of their medication on hydration. Why Are Seniors More Prone to Dehydration?Seniors are at an increased risk for dehydration for several reasons:     Reduced Thirst Signal: As people age, their bodies lose their ability to recognize thirst, making it harder to drink fluids.      Lower Body Water Volume: Older adults generally have a lower total volume of body water, meaning they have less fluid to lose before dehydration sets in.      Kidney Function Decline: Kidneys become less efficient at conserving water with age, further contributing to fluid loss.     Chronic Illnesses: Conditions such as diabetes can worsen the risk of dehydration since they affect the body's ability to control water. In addition to these factors, medication plays a significant role in influencing fluid balance in seniors.The Impact of Medication on DehydrationAs a clinical pharmacist, I've seen firsthand how medications can contribute to dehydration, especially in older adults. One of my clients, an active senior, nearly passed out while cycling in the summer. As it turned out, he was on a diuretic medication, commonly referred to as a "water pill." Diuretics are a class of drugs that increase urination, leading to reduced fluid levels in the body. These medications, often prescribed for conditions like hypertension and heart failure, can inadvertently lead to dehydration if fluid intake isn't carefully managed. Some commonly used diuretics include bumetanide, chlorothiazide (Diuril), hydrochlorothiazide, and furosemide (Lasix). But diuretics aren't the only medications that can cause dehydration. Other drugs like these can also affect your body's water balance.     Antihistamines: Often used for allergies, these can cause dry mouth and reduced fluid intake.     Blood Pressure Medications: Certain blood pressure medications can increase urine output.     Laxatives: They can cause fluid loss through increased bowel movements.     Chemotherapies: These treatments often lead to side effects like vomiting and diarrhea, contributing to dehydration.Managing Dehydration RisksIt's important to be aware of dehydration risks, particularly for those taking medications that impact fluid balance. Regardless of whether one feels thirsty, its important to drink water throughout the day. Staying alert to the signs of dehydrationsuch as increased thirst, dry mouth, dark urine, fatigue, and dizzinesscan also help address the issue early. These symptoms are early warning signs that the body may need more fluids.  Finally, anyone concerned about dehydration should consult a healthcare provider. They can adjust medication and advise seniors on managing fluid intake to prevent dehydration.   At Deeper Dive Horizons, one of my priorities is to guide you and your loved ones through the complexities of medication management to improve your well-being. With over 22 years of experience, my goal is to dive deeply into your health and ensure you maintain a balanced and healthy life, even in challenging conditions like extreme heat. Schedule a consultation today to get started 888-984-8895.

Late Summer Sales: How to Grab Buyers Attention in August

Listing your home in the late summer might sound daunting. But selling a home in August can be a good strategy, as the market is typically active with buyers motivated to move for the new school year or to settle in before the holidays. Make your property stand out with these easy-to-implement strategies.Leverage the Longer Summer DaysLonger days mean you have more daylight hours to show your home. Daytime showings allow sunlight to flood your rooms to better highlight architectural details, finishes and flooring. In general, natural light makes spaces appear larger, warmer and more inviting.Keep Up the Curb AppealFirst impressions are crucial. Youll need to be at the top of your outdoor maintenance game. That means grass is always cut, weeds are pulled and shrubs are trimmed. Other essential tasks include power washing the exterior, cleaning windows and touching up paint where needed. Work with your real estate agent to understand the best way to bump up your curb appeal within your budget.Show Off Your Outdoor SpacesMaybe you have a spacious deck or a thriving garden. Its worth spending a little time staging these areas to highlight them as extensions of your living space. Be sure these spaces are clean, inviting and free of weeds or debris. Consider adding some outdoor lighting to create ambiance and emphasize features like walkways, trees or sitting areas.Add Seasonal TouchesTurn up the summertime charm with a few easy touches both outdoors and indoors. Add late-summer blooming plants like asters and mums near your front door. Place fresh, seasonal flowers around your home to add color and fragrance. Incorporate pillows and throws in late summer colors like deep yellows and oranges. Another appreciated touch: Add a tray of lemonade and glasses to your counter or island for open houses or showings. Lastly, August can get hot and muggy! Keep your air conditioning running at a comfortable temperature so your guests have a distraction-free touring experience.With a few extra steps, you can capture the magic of summer season and help potential buyers picture themselves relaxing on your deck with a cool drink. Remember these buyers are highly motivated, so make your property the one that shines!

6 Reasons to List Your Home During the Holidays

Sellers, take note and embrace the holiday joy! If youre planning to list your home this season, early fall is the perfect time to prepare your home for the market. Youll face less competition and buyers will be highly motivated to settle into new digs in time to ring in the new year.1. Less CompetitionDuring spring and summer, there are historically more homes on the market. During the holidays, there are typically fewer listings, making it easier for your home to really stand out and shine to potential buyers.2. More Serious BuyersAmid the hubbub, people are extra busy gift shopping and attending celebrations. Consequently, youre not likely to get many just-looking buyers. Anyone home shopping during the holidays will be more focused and more likely to make a strong initial offer.3. End-of-Year Financial AdvantagesFinalizing a home sale before the end of the year can provide potential financial benefits, such as deductions on property taxes, mortgage interest and other home-related costs. 4. Job Relocation SeasonSince January is a common window for job relocations, buyers may need to settle into a city and home by the end of the holiday season. Your home may be the answer to their relocation prayers!5. Faster ClosingsSince everyone is busy decking the halls, buyers and sellers will both be interested in moving things along expeditiously. And because all the professionals involved for a sale will have fewer closings on their plate, your transaction will get even more attention.6. Cozy VibesWhile winter weather can be daunting, nothing beats coming in from the cold to a warm, cozy home adorned for the season. Just turn up the heat, have a yummy treat in the oven and be sure to keep your sidewalks clear of snow and ice. Along with your festive outdoor lights, youll appeal to buyers sentimentality with all the decorative touches.Listing your home during the most festive time of the year can lead to more serious and qualified buyers and a fresh start for the new year. Contact your local Coldwell Banker agent to get a jump start on listing your home in time for the holidays.