Before you even start thinking upgrades, it’s probably a good idea to have a trusted contractor or your realtor do a walk-through of your home. They will likely notice things that you might not realize need attention; things like adding insulation, refinishing your floors or pruning back overgrown shrubs.
If after these basics, you’ve still got the upgrade itch, the fine folks at HGTV say the following home improvements will get you the biggest bang for your buck:
- Minor Bathroom Remodel. Without giving vivid detail, even the cleanest bathroom can get pretty grimy after a while. There’s something about walking into a sparkling, bright bathroom that does wonders for potential buyers. And it doesn’t have to cost an arm and a leg to get your bathroom up to speed. Often all it takes is upgrading shower doors, replacing the tub, or even having it glazed. When such repairs are done well, they expect to bring 102% return at resale.
- Landscaping. Now we’re back talking about curb appeal again. Anything you invest in your yard, especially your front yard, you can expect to get back 100% of your cost when you sell your home. Easy upgrades include fresh sod, colorful plants or a decorative walkway. Even just adding a coat of sealant on flagstone gives a wet-look that adds to the overall appeal of your home’s landscaping.
- Minor Kitchen Remodel. Like the bathroom upgrade, we’re not suggesting you literally throw out the kitchen sink, but updating the larger focal points around the sink can make a big impact. Today’s laminate countertops mimic high-end stone and can be installed quickly. Older vinyl floors can be easily recovered with a more modern, durable look, while cabinets can be sanded and repainted in a contemporary color. Upgrades like these bring an average return of 99% at resale.
Let’s talk about how real estate commissions work. A commission is basically a percentage of the sales price that is divided between the listing agent and the buyer’s agent. Commissions are normally paid for by the seller – and cover all the things that help the house sell fast . . . Things like signage, photography, and virtual tours. It also places the home in what’s called the MLS – or Multiple Listing Service. The MLS exposes your hundreds, maybe thousands, of other realtors who all have people looking for homes. All these realtor-provided services help your house sell faster – saving you thousands of dollars in bills and mortgage payments. Plus, by using a realtor, you’re likely to sell you home for much more than if you tried to sell it by yourself. When you look at it like that, paying a commission ends up actually making you money. At Rilio, we’re committed to making the home selling and buying process as fast, simple and easy as possible.
Did you know that real estate laws differ from state to state? If you’re considering buying a home in Texas, there’s a unique option available to you, called, well . . . an option. When you make an offer on a home you can pay an “option fee,” usually in the amount of one to two hundred dollars. This “option fee” gives you an Option Period – a window of time that lets you terminate the contract for any reason. An Option Period gives you time to get a complete home inspection, do plumbing tests, and anything else to make sure the home is not only insurable . . . but exactly what you want. During the Option Period, you can terminate the contract for any reason or proceed with the purchase of the home. An Option Fee is just one of the things that can help make your home buying process as stress-free as possible.
That depends on a lot of different things, like the cost of the house and the mortgage rate you get. But in general, you’ll need to have enough money to pay for your earnest money, down payment and closing costs.