Real Estate – Ask the Experts!
Nov 1, 2018
Why does it seem like some people are always making money on their real estate transactions while you or others like you are not? It’s our goal to help readers better grasp what type of market conditions, locations, timing, property types and improvements are needed or necessary to make the highest and best returns for you, the seller!
As property owners, we all want to sell our real estate at its highest and best possible value. When the time comes to sell your real estate, the what and the how to help your property sell for a higher return are very important questions to ask yourself and to ask a professional. Every market area has its expectations and its trends. Understanding these trends and expectations are what can make the difference on a higher return for the sale.
Let’s look at the type of property improvements that might be needed for a seller’s property. Many of these, in much of the real estate that we look at daily are maintenance items versus improvements to the property. We will just give a few examples of each to offer a better understanding of what each improvement might give a seller in a return of value or might just simply help the property sell.
Painting – Painting is one of those improvements on our list that has a very high priority but might only increase value slightly but will almost always helps the property sell in a more timely manner. This is true for both interior and exterior. Color trends change from year to year and trying to use these trends or “color boards” can help a buyer feel more excited about the property. Paint in most cases is considered a maintenance item not necessarily an improvement.
Kitchen and bathrooms – These are both hot points for many of our buyers and for properties that may be struggling to find a buyer. If these rooms have not been improved, they do tend to sell slower than other improved properties. The trends of newer tiles, wall boards, eliminating the large whirlpool tubs and trending to walk in custom built showers, maybe a tile foot garden tub, are all giving the sellers a much larger return and helping their properties to sell very quickly. Kitchen trends are to do hard surface counter tops, under mount sinks, laminated painted style cabinets, trendy lights and newer tiles or hardwood floors with a more trendy style or design. These would be considered improvements and should bring a higher value to the home.
We are very passionate about real estate in all of its forms and love for our clients and our readers to engage and to ultimately sell and make a higher return on all of their properties. Whether it’s a personal home, commercial property or an investment property, we can help you with all of it. Please call or email with any questions or any topics you would like to see covered in the upcoming articles.