Home Repairs

More often than not, as homeowners, the last thing we want to do is home repairs. Not only do they take time (and many of us don't have a lot to spare), but they can also be costly and sometimes tedious. Sure, changing a light bulb or fixing a leaky faucet can be put off until it's absolutely necessary to fix, but there are some home repairs that should never be put off. Unfortunately, many of these involve major things (and can come with an even more major price tag), but avoiding the repairs listed below could actually cause bigger problems down the road for your property. The following are some of the top home repairs that should never be put off.

Roof Issues

No house is complete without a roof. Probably one of the most important parts of any building, the roof is a major player when it comes to keeping up on repairs. With a roof, there are a number of things that should be fixed as soon as possible: leaks, missing or damaged shingles/tiles, and any kind of sagging. Leaks mean water is getting into the home, and water can lead to things like mold, structure damage and even fire should it come into contact with anything electrical. Missing or damaged shingles or tiles can lead to a number of issues if not fixed and create weak spots in a roof. A sagging roof could signify moisture in the attic space (a result of poor ventilation), broken or cracked joists, rafters or the ridge line itself.

Foundation Issues

The foundation of your home is extremely important - it essentially holds up your home's entire structure. Cracks in the foundation are definitely something not to overlook when it comes to repairs. The last thing you want as a homeowner is for a crack to spread. Any crack has the capability to grow, but large cracks that are not addressed by a professional can eventually lead to leaks and even possibly the concrete collapsing. Foundation issues can be extremely costly, so addressing things like cracks while they are still small should be a top priority for any homeowner.

Plumbing Issues

Water anywhere other than in a pipe or a sink basin is bad, especially for your home. Plumbing issues and leaks anywhere in your property should be addressed as soon as possible. Water can cause a multitude of issues - from mold to structural and cosmetic issues. Plumbing issues, if left untreated, can become even bigger issues, especially when they occur inside walls or areas that are difficult to get to, and repairs carry a very big price tag if left to the last minute.

Mold

Some might argue that there is good and bad mold, but in reality, any mold in a home is bad mold. Yes, there are certain types of mold that are health hazards and can greatly negatively impact one's health, but mold in general means there is a moisture issue that needs to be addressed. Mold is something that a homeowner can easily overlook, feeling it unnecessary to treat. Not only should the mold be treated, but the root cause of why mold is growing in the property needs to be addressed as well. If the root cause is not fixed, even when professionally treated, mold can come back. Being aggressive when it comes to mold is not only good for the property, but it's also good for the health of all those who live in it.

Electrical System

Electricity is no laughing matter, especially if you're having issues with it in your home. Overtaxed, poor and outdated electrical systems pose a number of issues to a homeowner if not repaired. Electrical issues generally have early warning signs too, from circuit breakers buzzing or even blowing, to flickering lights and hot switches and outlets. If electrical system issues go ignored, there is definitely a possibility for a fire, and should water get into a troubled electrical system, the result is anything but good.

Exterior Updates to Boost Resale Value

Exterior Updates to Boost Resale Value

One of the best tools in a seller's arsenal is curb appeal. The outside of a home or property is one of the first things a buyer sees, and while many times it's not on the outside that counts, when it comes to real estate, the outside of a home plays a huge part in whether a buyer is going to want to take a look inside.
If a property can catch a buyer's eye from the get go, the probability that the buyer will want to look inside exponentially grows. If you've put your property on the market and are not attracting the number of potential buyers you'd like, or you're considering putting your property on the market and would like to give it a step above the other options on the market, consider these exterior home updates to help attract more buyers and help the resale value of your home or property.

Landscape

Unless your home or property is in an urban environment, say the middle of the city, it's highly likely you have some kind of yard or landscape. While not all homeowners enjoy working in the yard, a front yard or outdoor area makes a huge first impression on house hunters. Not to mention that 92 percent of home buyers now begin their search online, looking at pictures of homes, so showcasing the front of your home by landscaping or adding natural elements will undoubtedly help attract buyers and overall add to the total value of the home.

Update Paint

 Paint colors can make or break a house sale. If your property is on the market, or you're thinking of selling, consider adding a new coat of paint to help add value to your property. Depending on the size of your home, painting the exterior of a home can go for one thousand dollars and up, but the average return on the investment is about ninety percent. If your budget is tight and can't accommodate new paint, consider renting or buying a pressure washer and washing down the sides of your home. Pressure washing is not only more affordable, but it can also bring new life to a tired exterior paint job.

Replace Front Door

The front door of a home says a lot about a property and even about the seller. A high quality front door will not only stand out in pictures but also appeal to any buyers who might drive by the property. If your front door could use a facelift, consider investing in a wood or fiberglass door. Both types have a high-end look and feel and can help to boost the resale value; but if your budget doesn't have the room for a brand new door, replacing the door hardware and adding a new coat of paint can help invigorate a tired door and still catch the attention of potential buyers.

Install New Windows

Windows can tell a buyer a lot about a property. If your home's windows are older (single-pane), leaking or seals are broken (there is noticeable moisture between the panes), broken or otherwise not in the best condition, and it's in your budget, consider installing new windows before you put your home on the market. Many windows are now created to be energy efficient, saving homeowners money every year through energy savings, and the average return on investment is ninety percent. Not only do buyers like the idea of having new windows in a home, but replacing any windows will no doubt boost the resale value of a property.

Update Siding

Not every home or property suffers from old or bad siding, but siding is another item that immediately pops out to buyers. Many older homes have vertical siding, and while there is nothing wrong with vertical siding, some buyers will be turned off by it. A great way of increasing a home's resale value is to consider replacing siding - the national average for return on investment for updating to fiber-cement siding is almost eighty-five percent. If your budget can't take new siding for the entire home, but you want to change your vertical siding, consider adding new siding to the front of the home. While it's not a total redo, the majority of buyers will be attracted to the new siding, and it will add to the overall resale value of the home.

 

Updates, Renovations and Remodels

Updates, Renovations and Remodels

When selling a home or property, one of the main foals of the seller is to get the highest offer possible. If the market is hot, the chance of getting a high offer is relatively high. If the market is on the cooler side, many sellers looks to alternative options to make their properties more marketable, usually by way of a remodel, a renovation or by updating the property. But what is the difference between a remodel and a renovation? Is an update something that is easy or difficult?

While there are no doubt projects that see better return on investment than others, homeowners have a number of options when it comes to boosting their property's value. If you're not particularly ready to put your property on the real estate market, but are looking for ways to help boost your home's overall value, an update, a renovation or a remodel might be just what you're looking for at the current time.  

Updates

Want to help boost your home's value but have a limited budget for projects? Updates are a great option for the homeowner that has limited resources, funds or even time. But what's an update? An update essentially brings new life to your property, and perhaps brings things up-to-date, but it does so without significant alterations to the existing structure or property. Updates that are common in many households are updating light fixtures, installing new appliances, updating the home to be more energy efficient, updating exterior paint or changing interior colors, etc.

Depending on your budget, updates shouldn't break the bank, but they can help to boost a property's value or overall marketability. Buyers like seeing updates, especially when they boost the overall appearance of the home. Updates are a great and relatively convenient way of sprucing up a home without dedicating a high amount of time and money to projects, and even minor updates can help boost a property's overall value. Even just repainting the exterior trim can make a big difference.

Renovations

Renovation means to restore to a good condition or make new again. Renovating a property or a part of a property refreshes and revives it. Renovation can cover a number of different things: renovating plumbing or electrical throughout a home or property, refinishing hardwood floors, re-facing kitchen cabinets, adding modern finishes and fixtures to an older home. Renovating a property generally means that you're making the property meet current market expectations. Renovations, especially of certain rooms, can make spaces much more attractive to buyers but also add considerable value. Kitchens are one of the best options for a renovation when it comes to overall return on investment.

If you're looking to help boost the overall value of your property, adding stainless steel appliances to a kitchen (or even updating to newer appliances), putting in granite or other stone counter tops, changing outdated cabinet doors and hardware can all help boost a property's value and catch a potential buyer's eye. Depending on the number of projects you'd like to tackle, renovations can be relatively quick or take time and cost a few dollars. Again, your budget and time frame will determine the scope of your project, but renovations can add considerable value to your property and provide a large return to investment when it comes time to sell.

 Remodels

Remodels require a little more time, labor and funding, and more often than not remodels involve removing or moving walls, building additions or anything that includes significant structural changes to increase utility or appeal via replacement or expansion. A remodel changes the use of a space by altering the structure and style of a home. Popular remodels include kitchens, bathrooms and even going so far as to add additional square feet to the entire house. Because of how extensive a remodel can be, it's always suggested that permits are obtained for the work and that an architect and/or contractor is used to make sure any work is done according to current local building codes. 

Remodels that help improve a space can increase a property's value immensely, and in some hot real estate markets could even see a 100 percent return on investment. Some of the most popular remodels home buyers seek: kitchens, bathroom, and additional square footage (adding rooms) as they show the homeowners invested in the property and took the time to improve it for the future. 

Updating a home or property, or choosing to renovate or remodel, is a big decision and ultimately depends on how much time, effort, money and sweat a seller wants to put into the task. But if you're on the fence of whether or not your property could fetch the highest selling price in today's market, considering an update, a renovation or remodel might be the best solution at the current time to get your property to the top of every buyer's list. 

For more information on how to update your home or if your interested in scheduling a no-obligation meeting with Will Steinmetz, please do not hesitate to call (810) 844-2201.

Flipping Homes

 What's the Deal with Flipped Homes?

Americans love their home improvement and design shows. With entire channels dedicated to DIY, home decor and design, and everything related to U.S. real estate, we love the possibilities that lie within the real estate market in America. One popular aspect of many shows and publications is home or house flipping. We hear a lot about flipping homes, but what does that really mean? Is it feasible for everyone? Are there risks? Should you buy a flipped home, and what questions should you ask if your property search lands on a potentially flipped property?

 What is Flipping?

Flipping is a predominately U.S. term used to describe purchasing a property with the intent of quickly reselling it for a profit. Most of the time, properties that are purchased with the intent to flip are those that are distressed, abandoned, or otherwise in need or repairs that make the property less desirable to other potential buyers. Flipping has become increasingly popular throughout the U.S. in the last decade, and many people have become successful real estate flippers with the vast and varied real estate markets throughout the United States. 

Can Anyone Flip a Property?

Many programs on television make house flipping look easily attainable to anyone and everyone. The fact remains that flipping a property is risky business that requires a large amount of work experience, funding (preferably cash), excellent credit and a good understanding and almost intuitive knowledge of the real estate market. If you're interested in flipping properties, the best way to get started is by talking to someone who has experience and has had success in flipping real estate. There are many things to know about flipping real estate that should be addressed before the idea is even entertained. 

What are the Risks of Flipping a Home?

There are risks with any kind of real estate investment, but inexperienced flippers can make a number of mistakes. There are a number of costs that comes with flipping a property, and new flippers can make the mistake of not having enough money to cover the entire project - from the acquisition of the property, to the renovations, taxes, utilities and more. Another risk of flipping properties is time, or lack of time. Finding the right property can take months, and once you own the property there is a time commitment to renovations, commuting, inspections, and ultimately the marketing and selling of the property. Other risks that new flippers run in to are not having enough knowledge about the real estate market and failing to purchase the right property for a flip; a lack of skills when it comes to working on the property and putting in the sweat equity (hard work) required to get it up to market standards; and ultimately lacking patience when it comes to the entire project as a whole. 

Should I Buy a Flipped Home?

Often, flipped homes have mostly cosmic changes done in order to attract buyers and ultimately get the property sold. You might fall in love with fresh paint and brand new appliances, and generally speaking, most flipped homes attract many buyers because they have a smaller initial to-do list than other properties on the market. If you're looking at a property that could be a flip, be sure to ask these questions: What is the home's sale history? If the homes recently sold for much less than its current asking price, it's possible it is a flip. Does the outside of the home match what's inside? If the exterior of the home is older, and the interior looks brand new, it's very possible someone is trying to flip the property. Information is your best friend when it comes to a flipped home, so getting the most information up front will help guide you toward pursing the property or not.

If you believe you're looking for a flipping home, consider asking the seller what changes have been made to the property, and check to see if any permits were issued for the work. Also, some buyers might be blinded by all the new interior cosmetic updates that they forgot about the bones and foundation of the home. Regardless of whether a home is old or new, always hire an experienced and licensed inspector to check over the home to make sure you're getting the most for your money when it comes to buying a property.