Tim Garvey's Blog
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55 George Road, Winchester, MA 01890
Choosing what to upgrade or fix in, on or around your home can be a complicated process. Changes fall into two categories – things that increase or decrease value (or sale price) and things that increase or decrease salability (or how willing people are to pay full price for it). Before you start swapping out all the pieces of your home for new ones, determine whether you actually need to make those changes. Any change you make should either add something that adds value or replace something that needs fixing.
Adding Living Space
One of the most foolproof ways to add value to your home is to increase the living space, up to a point. If you have a 1-bathroom home, adding another bathroom definitely will increase the value, same with adding a bedroom to a 1- to 3-bedroom house.
It's essential to understand the difference between adding something to increase value and fixing something to bring back the value that has been lost. For example, fixing the roof doesn't add any value to the home. However, it does negate the devaluing caused by a leaky, old or otherwise poor roof. The same goes for landscaping. With a few exceptions, you can't truly add value to your home by updating or fixing the landscaping. You merely bring back any value lost from previously deteriorating land. This is not to say that these things aren't necessary; they are. It's just important to understand that they bring your property from 80% to 100%, instead of from 100% to 120%.
What to Avoid
If the home has a working kitchen and bathrooms without any significant problems, that are on par with other homes in your neighborhood, you are best off just leaving them alone. Your buyer will likely have different taste than you. That means they're probably looking at your brand-new kitchen and pricing just how much it will be to rip it all out and replace it with their brand-new kitchen. If you lose out on buyers who wanted the slightly lower price of your home without the cost of your new kitchen, you’ll lose out overall.
Before you start dropping big money on changing things in your home that are just fine as they are, get a professional opinion. Real estate professionals are intimately familiar with the best sales features in your area, so take their words to heart.
For those who plan to list a house in the foreseeable future, it often is beneficial to track the real estate market. By doing so, a home seller can identify real estate market patterns and trends and quickly address any potential property selling hurdles.
Now, let's take a look at three tips to help you analyze housing market data so you can accelerate the property selling journey.
1. Review the Prices of Recently Sold Houses in Your Area
Check out the prices of recently sold houses in your city or town. That way, you can find out whether sellers are accepting offers to purchase at or above their initial home asking prices.
Furthermore, it may be a good idea to see how your house ranks against recently sold residences. With this housing market data in hand, you may be better equipped than ever before to establish a competitive initial asking price for your home.
2. Determine How Quickly Houses Are Selling
As a home seller, you should find out whether you're preparing to enter a buyer's or seller's market. If you look at how quickly houses are selling in your city or town, you can distinguish a buyer's market from a seller's one.
In a buyer's market, you will find many sellers and few buyers. Conversely, in a seller's market, there is an abundance of buyers and few sellers.
The differences between a buyer's and seller's market are significant. If you understand whether you're getting ready to sell your home in a housing market that favors buyers or sellers, you can determine how to price your residence so it will generate plenty of interest from buyers. And as a result, you may be able to streamline the home selling journey.
3. Assess the Prices of Homes That Are Similar to Your Own
Your home may be one of many available to property buyers. Thus, you should review the prices of houses in your city or town that are similar to your own. This housing market data will help you narrow the price range for your residence.
Also, you may want to review rival home sellers' property listings and see how these sellers promote their residences to prospective buyers. Because if you can find ways to differentiate your home listing from competitors', you could boost the likelihood of a successful house selling experience.
As you prepare to add your house to the real estate market, you may want to hire a real estate agent as well. A real estate agent will offer recommendations so you can enhance your residence both inside and out and help you establish a competitive initial home asking price. Plus, a real estate agent will help you review an offer to purchase your home and determine the best course of action.
Take the guesswork out of selling your house – use the aforementioned tips, and you can monitor the real estate market and use housing sector data to simplify the property selling journey.
Moving into a new home can be an overwhelming time. You’ll be trying to match what you already have with new pieces, meticulously decorating the blank canvas that is your new space. Every task that you complete, you do to make your home your own.
One part of decorating your home that you’ll definitely want to take your time with is that of choosing artwork for the walls. You don’t just want to take any piece of art to fill up the blank spaces. Choosing artwork should take some thought and time. Below, you’ll find tips on picking the right artwork for all the rooms of your home.
Use What Inspires You
The artwork in your home should remind you of what you love and jog your creativity and motivation. A picture or piece of art can bring you peace and joy just by viewing it. That’s why you wouldn’t want to put just anything on your walls. You’ll be looking at whatever kinds of pictures and statues that you put up each day, so make sure that it’s not something that bores you!
Art Is More Than A Museum
When the word “art” is mentioned, it’s more than being about paintings or classic versus contemporary. Art can be a photograph that you have taken or a small figurine that you bought while on vacation. These are the things that bring you joy after all! The bottom line is that artwork in your home doesn’t need to be fancy, it just has to represent you.
Take The Time To Shop
You may be tired of shopping after looking for the perfect sofa or bedroom set for your new home, but the shopping should continue. It’s best to take your time and not make impulse buys when it comes to buying artwork. Consider where a picture will go before you purchase it to place in your home.
Know The Focal Points In Your Home
It’s much easier to choose artwork if you know where the focal points are in each room of the house. A room with a fireplace, for example, should have the fireplace as the center of attention. Any art that is placed in the room is complementary to that main piece.
Go With Your Theme
If you have a theme going throughout your home, you’ll want to find art to match. A western sunset might not match too well with your mid-century modern styled dining room.
The key to finding artwork and decor for your home is to know what you like. Knowing the scheme and makeup in each room is a great start to decorating right.