Should You Renovate Your Kitchen Or Bathroom Before Putting Your Home on the Market?

Many people think that renovating their kitchens and their bathrooms is the best way to add resale value to their homes. While these renovations can certainly help bulk up your home’s value, there are some things you should keep in mind before you start tearing out walls and cabinetry in either of these two rooms.

How Much Can I Get Back From a Renovation?

The amount of value you add to your home when you renovate your kitchen or bathroom will really depend on the status of the room before you got started and the types of renovations you made. For the most part, however, you can expect to get anywhere from 75 to 100% of the money you put into your renovation project back when you sell your home.

Although making these renovations won’t necessarily help you make more money than what you put in, they can help you sell make the home more attractive to buyers. As a result, you may be able to sell the home more quickly. In addition, if you do the work yourself, you may see a much greater return. Just be certain the work is of high-quality, or you may actually decrease the value of your home rather than bring its value up.

What Should I Consider Before Making a Renovation?

When making a renovation in your kitchen or bathroom, your goal should be to modernize the space without making it too personal in terms of taste. In other words, while you might like the thought of having bright red cabinets in your kitchen, many of your potential buyers may not like this color scheme. So, update your room without going over the top with colors and other design elements.

You should also consider the other home in your neighborhood before you start your renovations. If other homes in your neighborhood are mid-market houses and you add the highest-end finishes, you won’t get as much back on your return and you may actually have difficult selling your home. After all, most buyers don’t want to spend a great deal of money on a very nice home that is surrounded by less attractive houses. You should aim to keep the home on the same level as the surrounding homes in the neighborhood in order to get the greatest return.

Completing a bathroom or a kitchen renovation can certainly help to boost the value of your home, but plan out your renovations carefully in order to make certain every dollar you put into your home will come back to you in resale value. Ideally, your renovations should help you earn more than what you have put in, so talk with a real estate agent and ask for feedback and guidance before you start making your changes.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
www.electronicappraiser.com .

Estimating Your Home’s Value

While the best way to get an estimate of your home’s value is to consult with a professional appraiser, it is possible to get a ballpark figure on your own. By coming up with your own estimate, you can better determine if you are ready to contact an appraiser and put your home on the market. In general, there are two things to consider when trying to estimate the value of your home: How does your home compare to similar homes in the area have recently sold for and how much do you adjust to compensate for superior or inferior features of your home.

Considering Comps

When trying to develop an estimated value of your home, you will first need to compare your home to other similar homes that have sold in the area. The homes you use for comparison purposes are referred to as “comps or comparables.” It is important to note that market activity can change dramatically in just a few months’ time. Therefore, it will do you little good to compare your home to a home that sold over a year ago if there are homes that have sold recently. Rather, you should only consider those homes that have sold in the last six months or less. In actuality, however, it is best to only look back at the past three months.

If your home is in a market that is not particularly active, it may be difficult to find comps in your area. Similarly, if your home has special features that are not regularly found in homes in your area, you may not be able to find a reasonable comp to use for comparison purposes. Significant international and national events, such as war and elections, can also cause sudden changes in housing prices.

Amenities and Other Considerations

In addition to comparing your home to other similar homes in your area, there are several other factors that need to be considered when estimating the value of your home. These include:

• Age of the home
• Amenities
• Location
• Size
• Condition

In general, you should compare your home to a home that is of similar age to your home. Homes of a similar age and location typically also have similar amenities. Of course, this isn’t always the case, as your home may include other special amenities such as a pool, a bonus room, a great view, or a particularly large garage.

Ideally, you should compare your home to other homes that are in the same area as yours. If there has been no recent activity in your area, however, you might need to compare your home to other homes in neighborhoods that are similar to yours. In order to find a neighborhood similar to yours, look for one with homes that were built around the same time as yours and that are of comparable size.

The size of your home is another important consideration. The total square footage of your home, the number of rooms in your home, and even the size of your garage will all have an impact on the value of your home.

Since so many factors are involved with determining the value of a home, it can be difficult for a homeowner to develop a precise estimate of its value. Therefore, in order to get a more accurate appraisal of your home, it is best to enlist in the services of a professional appraisal service, a local real estate agent and or a on-line valuation company.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
www.electronicappraiser.com .

Five Simple Steps to Homebuying

Are you planning to buy a new home? If this is your first home purchase, understanding the ins and outs of purchasing a home can be a bit overwhelming and confusing. With these simple steps, however, the process can be much simpler and easier to understand.

Step 1: Hiring a Real Estate Agent

Depending upon the route you want to take to purchase a home, you might want to hire a real estate agent to help you with the purchase process. If you are interested in purchasing a home directly from the homeowner, however, hiring an agent may not be necessary. Still, you should hire someone to represent you when finalizing the deal. That way, you can be certain you are not signing something that you will regret later.

Step 2: Get Pre-Approved for a Mortgage

In order to expedite the buying process, it is helpful to get pre-approved for a loan. When you get pre-approved for a loan, you know exactly how much you can spend on your home and how much you can expect to be able to borrow. This will give you a better idea of which homes you should look at and will also help you seal the deal more quickly after you find the home of your dreams.

Step 3: Determine the Location that is Right for You

Now, it is time to actually start doing some house hunting. In order to narrow down your choices, decide upon the type of setting you would like for your new home. Do you want to live in a rural location? Perhaps you would like to live in the suburbs or in the city. Or, maybe you want a home on the beach or in the mountains. Do you want lots of land or is a small city lot sufficient? Remember to consider your current family situation as well as your future plans so you can make a wise decision.

Step 4: Decide Upon the Type of House You Want

Once you have determined the right location for your dream home, it is time to consider the style of house that you want. Do you want a simple ranch home or are you looking for one with multiple stories? Do you want a basement? Are you interested in a condo or would you prefer a log home? The better you formulate a vision of the home you want, the easier it will be to find the one that suits your taste and needs.

Step 5: Consider the Amenities

Although you will pay extra for certain amenities, it is certainly easier to find a home with the ones you want rather than trying to add them on later. Some popular amenities that you might want in your home include:

• Air conditioning
• Deck
• Eat in kitchen
• Extra bathrooms
• Fireplace
• Formal dining room
• Jacuzzi / Pool
• Patio
• Screened porch
• Three car garage
• Wooded lot
• Proximity to schools / Work
• Location

Remember, purchasing a home with these amenities will cost extra, so make certain you are willing to pay more for the amenities you desire.

Whether you hire a real estate agent to help you find a home or you decide to work directly with a homeowner, you will have a much better experience if you know what you are looking for in a home. This way, you can narrow down your choices and view only those that truly suit your needs.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of home appraisals that offers a nationwide personalized instant informational report about house values. For more information, please visit http://www.electronicappraiser.com/.

Increasing the Value of Your Home

Are you considering selling your home? Before you get the value of your home appraised and put it on the market, you might want to consider making some changes to your home that will help to improve its value. You just might be surprised by how much your home value can be improved by a few simple changes.

Creating a Modern Kitchen

One of the best ways to increase the value of your home is to update your kitchen. Most of today’s buyers are looking for large kitchens that offer plenty of workspace. Solid surface counters are also a must in an updated kitchen, as are newer appliances that are in good working order. A kitchen that opens up to another room will also be well-received by potential buyers and you should place a window over your sink whenever possible.

Updating Your Bathroom

After the kitchen, the bathroom will generally have the greatest impact on the value of your home. Bathrooms containing a whirlpool tub or spa are big sellers. Other features that homebuyers look for include separate showers that contain multiple jets or steam and double sinks. A growing number of buyers are also looking for toilets in a separate room and master baths that are nice and roomy.

The physical appearance isn’t all that matters when it comes to the bathroom, however, as the plumbing is also important. Make certain your pipes are large enough to carry enough water and that your hot water heater is big enough to keep the water at a comfortable temperature. At the very minimum, you should have a 75 gallon hot water heater, though most homebuyers will prefer a 100 or 150 gallon heater.

Going Natural

Today’s homebuyers are also looking for homes that contain natural materials. Items such as hardwood floors, ceramic tile, and granite are all positive additions to a home. When it comes to bathrooms and kitchens, buyers are especially interested in avoiding linoleum and having flooring such as wood and ceramic tile. Laminate and wood floors are more popular than wall-to-wall covering in other rooms of the house.

Providing Plenty of Storage

The more storage space you can provide, the happier your potential buyers will be. An oversized garage and attic space are both great assets. Buyers are also looking for closet space to store their personal belongings. His and hers walk-in closets are particularly attractive in the master suite. Don’t look at your basement as your storage space, as homebuyers are more interested in finished basements rather than basements filled with clutter.

Making it Light and Airy

Homes with a light and airy feeling are particularly popular. Therefore, you might want to consider adding additional lighting and finding ways to let in more natural light. Find ways to open up your home in order to create an illusion of spaciousness. Knocking out the wall between your kitchen and your dining room, for example, can really open up your home and make it more appealing to potential buyers.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of home appraisals that offers a nationwide personalized instant informational report about house values. For more information, please visit www.electronicappraiser.com .