What Factors Affect Home Resale Value? Simple Home Improvements To Increase Your Home’s Value

It’s never too early to start thinking about selling your home, and many real estate experts say that the best time to start is before you even buy it. If you’re buying a new home, chances are you’re going to be selling it in five, ten, or twenty years from now. While reselling may be far from the top of your priority list, there are a few interesting facts to keep in mind. Some attractive features of your new home might turn out to be investments that don’t pay off when it comes time to sell, while other features that you overlook now could have a positive effect on your home’s value over time.

When looking for a new home, your top priority should still be your own needs and desires, but it can’t hurt to have “resale value” in the back of your mind. After all, a home is a huge purchase, and it can turn out to be a great investment.

All features of a home will essentially be built into the price. If you do your best to learn about the true value of these features, especially their effects on the value over many years, you will have a better idea of how much you should be paying initially.

Features that add to your home resale value

Good location
Real estate experts agree that a good location is the biggest factor in adding value to a home. The home should be in a growing community; close to freeways and commercial areas, but not so close that the neighborhood is too noisy or congested. It’s also a good idea to check city records for any proposed land use action that will affect the area. The neighborhood may look peaceful now, but the city could be planning on tearing down the green space to build a new freeway. Planned city action could drastically change the value of the house over time, positively or negatively.

Large kitchen
The kitchen is one of the most important rooms in the house. It’s a central location for gatherings, and it’s a room in which you spend a great deal of time. Large kitchens that are open, accessible, and adjacent to dining and family rooms will add substantially to your home resale value.

Three or four Bedrooms
Bedrooms provide room to spread out, secluded workspaces, or extra space for a growing family. As far as the home resale value is concerned, three or four bedrooms is ideal. If the house has five or more bedrooms, make sure they’re not inflating the price too much. You shouldn’t be paying much extra for more rooms, as they won’t add significantly to the resale value. Also, if the home has less than three rooms, your pool of buyers will be limited and you could have a harder time selling in the future.

2.5 Bathrooms
One bathroom in the master bedroom, one shared bathroom, and a half bathroom for guests is ideal. If the house has more than 2.5 bathrooms, make sure it’s not inflating the price, as more bathrooms will do little to increase the resale value. Two bathrooms is also an acceptable number, but any less than two will hurt the value of the home.

Large, rectangular lot
Most buyers are looking for a fair sized, rectangular, level lot. Small yards, odd shapes, or sloped lots will decrease the home resale value. There should be enough space in the front and back yards for a person to consider them accessible. Enough room for decorations or activities is a huge plus.

Closet space
A walk-in closet for the master bedroom is a very desirable feature. Aside from the master bedroom, a home should have enough closet space scattered throughout. A lack of closet space can alienate certain buyers, and depreciate the value of the home.

Two-Car garage
Depending on the location of the house, a two-car garage is most desirable. If the house is surrounded by other homes with larger garages, it might be best to consider a larger garage size to match. In general, two is the magic number. More or less could affect the home value in undesirable ways.

Hidden, main floor laundry room
A laundry room should be out of sight to avoid becoming an eyesore, and it should be located on the main floor of the house. An easily accessible laundry room can cut back on trips up and down stairs. Remember, even if an inconvenient laundry room isn’t an issue for you, it could be an issue for your potential buyers, and it could hurt the value your house.

House size vs. surrounding houses
The size of the house can either increase or decrease its value, depending on its location. If the house is a large luxury house surrounded by smaller homes, the surrounding houses will drag down the value over time. On the flip side, if the house is small or medium and it’s surrounded by larger homes, the value could increase over time. If you’re looking at a home, compare its value with the values of the surrounding homes, keeping size in mind.

Surprising Features that don’t add to home resale value

A view
While a pretty view is easy on the eyes, it doesn’t do much for the value of a house, and it could be costing you a lot of money. Compare the price of the house that has a view with another comparable house in the area that doesn’t have a view. Is the price inflated because of the view? Chances are, when it comes time to sell, you won’t be getting the extra money back from the sale.

Fancy landscaping
Unless you are thoroughly impressed with the fancy landscaping, don’t pay extra for it. Landscaping can be the sign of a hobby or investment made by the previous owner. If you can’t imagine yourself enjoying the landscaping in the future, let the seller know. If it doesn’t interest you and you’re not willing to invest the same amount of time and money as the previous owner, the landscaping will eventually deteriorate, and you won’t get your money’s worth when it comes time to sell.

Swimming pools
Houses with swimming pools were very popular a few years ago, but with the recent awareness of dangers and injury statistics, families with children are steering clear of them. Unless you want a pool for your own recreational use, make sure you’re not paying extra for it, as you won’t be seeing a return on the investment.

Multiple stories
In the past, multi-story homes were very popular. Recently, the market has made a surprising shift, and now single-story homes are far more desirable. The exception is single-story homes surrounded by multi-story homes. In most cases, a single-story home will pay off more in the end.

Fireplaces
Though they are quaint and comforting, fireplaces do little to increase the value of a home. Let the seller know that you’re indifferent to the fireplace, and you don’t see it as an additive feature of the house-at least not one that’s worth paying for.

Home Improvements That Increase Home Resale Value

While you’re looking for a home, or if you’ve already moved in, you can always think about ways to increase the resale value. Here are a few tips to keep in mind:

Home improvements
While you’re browsing homes, look at any “less than desirable” features as an opportunity to make some home improvements. Any ideas you have, from paint color to new furniture, could go a long way toward increasing the home’s value. Assess your own skills, or form a relationship with a contractor, and view the home from the perspective of a restorer. If the lot is sloped, could a new terrace or porch do the trick? If the home only has two bathrooms, could a new half bathroom be added in? Can you turn the home’s imperfections into assets?

Kitchen & bathroom renovation
If you’re checking out a new house, and the kitchen or bathrooms appear uninviting or cramped, consider the cost of renovating these rooms compared with the money saved from purchasing the house in such condition. Even do-it-yourself fixes, like new tiles, new cupboards, or a new coat of paint can increase the value drastically. Keep in mind that most buyers scrutinize the kitchen the most, with the bathrooms a close second, followed by the master bedroom. If you see beauty potential in these rooms, you could turn that potential into profit.

Remove wallpaper
Most buyers don’t like wallpaper. The design is often dated, and buyers don’t want to have to remove it themselves. Here’s where you can turn a hindrance into an opportunity. If you’re willing to put in the effort to remove the wallpaper yourself, you can significantly increase the home’s resale value. When the wallpaper is removed, make sure to paint the walls a neutral color, as this allows a wider range of buyers to essentially project themselves into the home and imagine their lives within its walls.

Your house is your home

While these facts represent the opinions of many real estate experts, thinking about home resale value is still a guessing game. You’re betting that today’s valuable features will retain their value in the future. There are many proven trends, and it’s always a good idea to educate yourself on the local markets and neighborhoods in which you plan on commencing your search. While your house is a large investment, it’s also simply a home. You need to find a house that you can see yourself living in for many years. Keep these tips in the back of your mind, begin your search with confidence and optimism, and when you’ve finally found a new home it will be a positive financial investment, as well as an investment in the future of you and your family.

How to Get Home Interior Design Ideas For Your New House – It is Easier Than You Think

Looking for ideas about how you should decorate your home? By decoration, I mean the over all ambiance that is achieved by your particular choice of furniture. People with busy lives often don’t have the time or even the inclination to plan what their future home will look like. Then before they know it, they’re owners of a new house and are faced with the problem of furnishing it. So how do you come up with a look that’s tasteful and appealing? Consider the following tips about where to look for inspiration.

1.) Get ideas from magazines, books, and catalogs. Go to a bookstore and look through the magazine racks. Interior home decor is a popular topic so you shouldn’t have any trouble finding plenty of magazines on the subject. Also pay attention to the magazines in the checkout line at the stores and supermarkets that you frequent. If you see any that appeal to you, pick it up and buy it. One source of ideas is your junk mail. Give them a quick scan as you toss them into the trash.

While checking out the magazines at the bookstore, take a look at the books. Books have an advantage over magazines in that they get into the topic in greater depth. On the other hand, if you’re a highly visual person, then magazines, which are highly pictorial, is most likely best. When all else fails, you can always check out your local library. Libraries aren’t limited to books. They typically have extensive magazine sections as well.

The larger furniture stores will often have extensive online catalogs that you can view from the convenience of your own home.

2.) Get your inspiration from the real world. Go to local furniture and home improvement stores. Furniture stores in particular, have many displays of mock bedrooms, kitchens, and bathrooms. Strolling though these will give you a good feel for a particular look. While books and magazines will expose you to more examples, nothing beats the real world for actually experiencing a particular ambience.

Next time you’re visiting friends or relatives, keep your eyes peeled. Don’t hesitate to ask questions since most people would be flattered to give advice or information about where they bought their furniture.

3.) Google images. Go to Google.com and click on the images link on the upper left of the page. Enter the phrase “home decorating ideas” and click the search button. At the time of writing this article, I have found over 2.8 million image results. The variety of styles that you can find this way are literally endless.

These are only three suggestions but they should give you a good start at deciding on the look that is right for your new home.

Tips to Turn Your Home Friendly for Elder Family Members

Your family members are getting older. Daily routines and activities are getting harder for them to do. You may be facing a cross roads for their care. You want the best for them yet want to maintain their independence and dignity.

The following options are limited and can be emotional:

-Move them in with you, which may disturb your current family functioning, and care for them yourself. This may be the most disruptive lifestyle option.

-Move them into assisted living or independent living communities where others can care for them. This is the most expensive option.

-Convert their current home into a more comfortable environment for them. This option helps bridge them from functioning until they absolutely need assisted care-giving.

Most are reluctant to move out of their home into a community even an independent community because of financial reasons or reluctant to leave their current community and/or home.

Making some changes in their current home is a temporary fix but can help maintain their independence until they are no longer able to function on their own.

Some options to look at when making their home more comfortable for their later years include:

-Wheelchair/Walker accessibility/maneuverability

-Arthritis-related needs

-Ba-thing/bathroom accessories

Doorway widening:

When accommodating wheelchairs and/or walkers, you may want to look into widening doorways. If the doorway is not in a load-bearing wall, this can be a moderate construction project.

1. Remove current door, door frame, hinges and door jamb.
2. Cut into the drywall and possibly studs (2x4s).
3. Replace the inner studs with existing or new 2x4s.
4. Re-frame, re-hinge and re-install the door jamb with a wider door.

Ramp installation:

Wheel chairs may require installing ramps. These are typically pre-made with various heights and widths and just involve the purchasing and placement of them. You can also create your own with 2×4, 2×8 or 2×6 for the triangular frame and plywood for the slanted flat surface. You can furnish/dress it in desired flooring to mesh with the home’s design.

Arthritis-friendly faucets/handles:

Arthritis is a common problem among the elderly, and installing arthritis-friendly faucets and door handles can help with the comfort and ease of every-day accessibility.

Grab bars/railings:

Grab rails/hand railings are also helpful in trouble spots such as the bathroom, small/large stairways, next to the bed, in the tub/shower. These are available in a variety of colors, styles, lengths and base materials.

Shower/Tub Seats:

Shower/Tub seats are another helpful tool for routine activities. These are best used with shower hoses for bathing/showering purposes.

There are a variety of products available to help accommodate your family members in their older years. Their age-related problems do not always mean that they have to move out. For detailed instructions or product availability, contact your local handyman for recommendations and information.