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How long should they last?
Nothing in life lasts forever – and the same can be said for your home. From the roof to the furnace, every component of your home has a life span, so it’s a good idea to know approximately how many years of service you can expect from them. This information can help when buying or selling your home, budgeting for improvements, and deciding between repairing or replacing when problems arise.
According to a National Association of Home Builders (NAHB)study, the average life expectancy of some home components has decreased over the past few decades. (This might explain why you’re on your third washing machine while Grandma still has the same indestructible model you remember from childhood.) But the good news is the life span of many other items has actually increased in recent years.
Here’s a look at the average life spans of some common home components (courtesy of NAHB).
Appliances. Of all home components, appliances have the widest variation in life spans. These are averages for all brands and models, and may represent the point which replacing is more cost-effective than repairing. Among major appliances, gas ranges have the longest life expectancy, at about 15 years. Electric ranges, standard-size refrigerators, and clothes dryers last about 13 years, while garbage disposals grind away for about 10 years. Dishwashers, microwave ovens, and mini-refrigerators can all be expected to last about nine years. For furnaces, expect a life span of about 15 years for electric, 18 for gas, and 20 for oil-burning models. Central air-conditioning systems generally beat the heat for 10 to 15 years.
Kitchen & Bath. Countertops of wood, tile, and natural stone will last a lifetime, while cultured marble will last about 20 years. The life span of laminate countertops depends greatly on use and can be 20 years or longer. Kitchen faucets generally last about 15 years. An enamel-coated steel sink will last five to 10 years; stainless will last at least 30 years; and slate, granite, soapstone, and copper should endure 100 years or longer. Toilets, on average, can serve at least 50 years (parts such as the flush assembly and seat will likely need replacing), and bathroom faucets tend to last about 20 years.
Flooring. Natural flooring materials provide longevity as well as beauty: Wood, marble, slate, and granite should all last 100 years or longer, and tile, 74 to 100 years. Laminate products will survive 15 to 25 years, linoleum about 25 years, and vinyl should endure for about 50 years. Carpet will last eight to 10 years on average, depending on use and maintenance.
Siding, Roofing, Windows. Brick siding normally lasts 100 years or longer, aluminum siding about 80 years, and stucco about 25 years. The life span of wood siding varies dramatically – anywhere from 10 to 100 years – depending on the climate and level of maintenance. For roofs, slate or tile will last about 50 years, wood shingles can endure 25 to 30 years, metal will last about 25 years, and asphalts got you covered for about 20 years. Unclad wood windows will last 30 years or longer, aluminum will last 15 to 20 years, and vinyl windows should keep their seals for 15 to 20 years.
Of course, none of these averages matter if you have a roof that was improperly installed or a dishwasher that was a lemon right off the assembly line. In these cases, early replacement may be the best choice. Conversely, many household components will last longer than you need them to, as we often replace fully functional items for cosmetic reasons, out of a desire for more modern features, or as a part of a quest to be more energy efficient.
Are extended warranties warranted?
Extended warranties, also known as service contracts or service agreements, are sold for all types of household items, from appliances to electronics. They cover service calls and repairs for a specified time beyond the manufacturer’s standard warranty. Essentially, warranty providers (manufacturers, retailers, and outside companies) are betting that a product will be problem-free in the first years of operation, while the consumer who purchases a warranty is betting against reliability.
Warranty providers make a lot of money on extended warranties, and Consumers Union, which publishesConsumer Reports, advises against purchasing them. You will have to consider whether the cost is worth it to you; for some, it brings a much needed peace of mind when making such a large purchase. Also, consider if it the cost outweighs the value of the item; in some cases it may be less expensive to just replace a broken appliance than pay for insurance or a warranty.
For more information on Windermere Evergreen, please contact us here.
Outdoor Living Trends
Summer is just around the corner and there is no better way to prepare than indulging in some exciting backyard inspiration. Your outdoor living space can be more than just a place to spend time with family and friends; it can be your sanctuary as well. This year is the time to turn your backyard into your own personal vacation spot.
If you don’t have a tub already, consider adding a sunken hot tub into your backyard with a deck of natural stone, tall grasses, and outdoor curtains for privacy. Include pillar candles and some twinkling lights for ambiance.
If you entertain a lot, a kitchen is the ideal outdoor space for summer entertaining. Bring out your inner Bobby Flay with a cooking station that includes a high-end grill, refrigerator, wine chiller, and elegant washbasin. Round this all out with a concrete counter, bluestone tile floor, and stainless steel.
Nothing says summer like outdoor movies and your own personal drive-in. All you need is a projector to watch your favorite movie, some dangling lights in the trees, blankets, and pillows. You could also watch it from a hanging bench or my personal favorite, a floating bed.
Gardening can go beyond being a relaxing pastime; consider growing your favorite foods and join the “farm to table” movement. In 2012, people spent $1.2 billion more dollars on food gardening than they did flower gardening. An easy way to incorporate this is to use blueberries as foundation plants or other fruits, such as raspberries. If you already have flowers planted, tuck a pepper plant or basil in between your flowers.
A reading nook outdoors is the perfect way to get lost in your favorite book or magazine. You can convert a small shed into a private reading spot, an arbor with a bench surrounded by clematis, or a relaxing hammock. These hideaway spots are what turn your home into a staycation resort.
Is your ideal summer situated by a campfire? Build a fire pit and enjoy s’mores in the comfort of your backyard. Use an old wine barrel, bricks, stones, or a concrete bowl. A lowered fire pit is great if you want to use sand for a beachy atmosphere. On a warm summer night a campfire sets just the right mood for outdoor fun.
Having a water feature in your backyard instantly creates a Zen space. They can deflect unwanted attention by drowning out unwelcome sounds. Add a fountain, pondless waterfall, or small stream to complete the vibe. If you want a smaller commitment, a shallow recirculating foundation will also do the trick. All you need is a simple foundation and recirculating pump.
To enhance your space with little to no cost, add dangling vines or twinkling lights as a finishing touch to create your backyard haven. Time is something there never seems to be enough of, but these low-maintenance enhancements will enable you to spend that time in your very own outdoor living space.
For more outdoor living ideas, follow our Pinterest board.
For more information on Windermere Evergreen, please contact us here.
The Tax Benefits Every Homeowner Should Know About
This article originally appeared in Times of San Diego
The housing market is predominantly very strong and more and more people are becoming homeowners. While there are many intangible benefits to owning a home, such as pride of ownership and setting down roots in the neighborhood, the tangible benefits are just as great. In addition to benefitting from possible appreciation, there are many tax deductions available that help reduce your annual income taxes.
Tax breaks are available for any type of home — single-family residence, town house, mobile home, or condominium. However, to take full tax advantage of owning a home, property owners need to understand the expenses they can deduct, and learn some tips to get the most tax advantages out of home ownership.
Mortgage Interest
A house payment is comprised of two parts: principal and interest. The principal goes toward reducing the amount you owe on your loan and is not deductible. However, the interest you pay is deductible as an itemized expense on your tax return. You can generally deduct interest on the first $1 million of your mortgage. You can also deduct interest on the first $100,000 of a home equity loan.
Property Taxes
Another big part of most monthly loan payments is taxes, which go into an escrow account for payment when the taxes are due. This amount should be included on the annual statement homeowners get from their lenders, along with their loan interest information. These taxes will be an annual deduction as long as the home is owned.
Home Improvements
If using a home equity loan or other loan secured by a home to finance home improvements, these loans will qualify for the same mortgage interest deductions as the main mortgage. Only the interest associated with the first $100,000 is deductible.Making improvements on a home can help you reduce your taxes in two possible ways:
- Tracking home improvements can help when the time comes to sell. If a home sells for more than it was purchased for, that extra money is considered taxable income. You are allowed to add capital improvements to the cost/tax basis of your home. If a home sells for more than it was purchased for plus any capital improvements, that extra money is considered taxable income. Keep in mind that most taxpayers are exempted from paying taxes on the first $250,000 (for single filers) and $500,000 (for joint filers) of gains.
Home Office Deduction
If a homeowner works from home, they can take a deduction for the room or space used as an office. This includes working from a garage, as well as a typical office space.
This deduction can include expenses like mortgage interest, insurance, utilities, and repairs, and is calculated based on “the percentage of your home devoted to your business activities,” according to the IRS.
Home Energy Tax Credits
For homeowners looking to make their home a little greener, the Residential Energy Efficient Property Credit can help offset the cost of energy efficiency improvements. People who install solar panels most commonly take advantage of this credit. Homeowners can save up to 30 percent of the total cost of installing certain renewable energy sources in their home. Even better, this is a credit, which means it directly lowers a homeowner’s tax bill.
Of course, every homeowner’s financial situation is different, so please consult with a tax professional regarding your individual tax liability.
For more information on Windermere Evergreen and our team, please contact us here.
Why You Should Stay Put and Improve the Home You Have
Here’s an architecture book for our times, when some homeowners are under water on mortgages, and the cycle of trading up has either stopped or slowed way, way down. In “Staying Put,” architect and writer Duo Dickinson has assembled a terrific and practical guide to help us make real improvements to our homes. Dickinson, an advocate of well-designed and affordable homes for all, has specialized in residential design for more than three decades.
This is not your typical architect’s book about design. There’s no obscure language nor design-for-design’s-sake ideas. It is a practical, down-to-earth guide that walks anyone through the rational process of how to remodel your house to get the home you want, from how to think about your house and overcoming hurdles to a list of “Duo’s Do’s and Don’ts” for the homeowner. Along the way, there’s plenty of nice before-and-after photos to help explain the points. Do read the book. You’ll be glad you did.
Staying Put 1: The Taunton Press Inc, original photo on Houzz
The cover says it all. The ubiquitous photo of a gorgeous, award-winning home that’s beyond most of us is replaced with images of a saw, cup of morning joe and a to-do list.
Are you staying put yourself? Read on for 8 of Dickinson’s suggestions.
Consider the compass points. The tips and illustrated examples are wonderfully straightforward. For example, we see a house that gets overheated, the siding degrades and the front door bakes in the sun because it all faces south.
Dickinson’s common-sense advice: Rework the front of the house with a new wide porch that shades the front door and some smaller, yet well-sized windows to create a lot more curb appeal while reducing maintenance and energy consumption. It’s a triple win: more beauty and comfort with less cost.
Avoid gutters. Statements such as “gutters and leaders are devoutly to be avoided” may sound like heresy to many, but certainly are the truth. Proving his point, Dickinson illustrates how a properly-built roof overhang can shed all the water it must without the complications, such as ice dams, caused by gutters.
Embrace small moves. Dickinson provides a wealth of simple solutions illustrated with before-and-after photos. He shows how to use small moves for big dividends, such as taking out a wall between a kitchen and a hallway to make room for more kitchen storage.
Enhance curb appeal. The book offers solutions to common problems with a particular style, such as how to improve and enhance an entrance into a split-level home.
Open up to the outside. Dickinson provides some excellent examples of how we can use modern windows and doors to strengthen the connection between inside and outside. Our homes, says Dickinson, no longer need be “later-day caves.”
Find your home. Learning more about the style of the house you have will help you avoid obstacles in remodeling and recognize the best opportunities for improving your particular home.
Open up the inside. Snippets of advice sprinkled throughout the book are like refreshing raindrops that clear the cobwebs away. One such snippet: “If you walk through a room to get to a room, something is wrong.” You know — it’s when that new great room gets added onto a modest house, and the result is some kind of dyslexic creature that’s really two houses rather than one.
So rather than even building an addition, Dickinson suggests you make the most of what you already have. In this example, widening the opening between rooms strengthens this room’s connection with the rest of the home, increasing its utility and spaciousness.
Work with what you’ve got (before): Keeping the kitchen size the same while vaulting the ceiling dramatically increases the overall spaciousness of the room, as you’ll see in the next photo.
Work with what you’ve got (after): Walls, doors, appliances and even the skylight and kitchen sink were all left where they were. This all avoided costly plumbing, electrical and mechanical work and rework.
Working with what you’ve got (plans): Dickinson has included before-and-after floor plans for many of the examples. These plans help provide that much more context, allowing the reader to better understand what they may be able to do with the home they already have.
By Bud Dietrich AIA, Houzz
For more information on Windermere Evergreen please contact us here.
Preparing Your Home for the Winter
During the winter, it is tempting to curl up and hibernate in bed for the next few months. However, you shouldn’t put off these important home maintenance duties.
Clean and check the gutters: While you are on the roof hanging holiday lights, make sure your gutters are clear of leaves, secured to the house, and in good condition. If you do find problem spots, seal, secure, and make note to fix these in the spring. You want to divert water away from your home.
Insulate external water sources: In cold climates pipes can freeze, which can then lead to cracked pipes and flooding. Bring hoses and sprinklers inside for the winter and use insulation to wrap external faucets. Insulating interior pipes can help prevent disaster. If you don’t have insulation, you can keep a faucet dripping during particularly cold days, so water is flowing through the pipes.
Check your water heater: One way to save money during the winter months is to wrap your water heater, so it doesn’t have to use as much energy to keep the water hot in a tank. You should check on your heater to make sure it isn’t leaking and in good repair regularly.
Interior insulation: Keep the heat in and the cold out with increased insulation in your attic and basement. This is an investment, and best done before the winter hits, but can make a big difference in how warm your house feels and how high your heating bill goes.
Check for cracks and leaks: Do you feel a draft? Check the sealing on your windows and doors. You can add weather stripping and silicon to seal these leaks. Foundations can leak as your home settles, so you should also check your basement for water coming through the walls, pipes, and older windows. You will want to seal these appropriately to minimize damage from flooding or mold.
Weatherize your windows: Your windows can be a great source of heat leakage depending on their age and condition. If you have older windows, you can use a clear film to help insulate them during the winter. If you don’t want to film the windows you can install extra thick drapes or curtains to help keep the interior of your home warm.
Check your heating system: What is one thing gas fireplaces, wood burning stoves, and central air heating systems all have in common? They all need to be cleaned and maintained. Check and clean your indoor heating system thoroughly. If you use an old-fashioned wood stove, make sure there are no leaks and that all soot buildup or nests are removed. If a furnace is what you have remember to change the filters as recommended or clean out your reusable filters.
Check your chimney with care: Nothing is as cozy as sitting by the fireplace during the winter, but use with care! Have your chimney checked by a professional to ensure that it’s in good condition and clear of critters or nests. You can also use a creosote log at the start of the season to help break down any old residue.
Invest in home security: The holidays are prime times for burglars looking to score some extra gifts so make sure your home is safe and secure at all times. Check your locks to make sure these are secure and consider a home security system with visible cameras to act as a deterrent. Keep evidence of big gifts hidden from view too. And make sure you discreetly get rid of any large boxes that might alert a prowler that you have new big-ticket items in your home.
Deck the halls and be merry: Decorate your home and prepare for guests. If you have a Christmas tree, keep it from drying out (and creating a fire hazard) by watering regularly. Keep decorative candles and menorahs away from children and flammable materials. You may want to consider battery powered candles, these can be a safe alternative to traditional candles.
Wishing you and yours a happy and safe holiday! For more information on Windermere Evergreen please contact us here.
Tiny Homes Promote Quality over Quantity
Are you fascinated about downsizing? Do you love small places? Does a simple and serene ambiance sound like music to your ears? Then hop on the bandwagon and get yourself a ‘tiny house’ because we all know the best things come in small packages.
What’s a tiny house? Tiny houses have recently hit the real estate market by storm. The to-go models typically range from 100-175 square feet, while the larger, more permanent cottage styles are usually around 250 to 500 square feet. With a multitude of floor plan choices that include full kitchens and bathrooms, heating, AC, and a reasonable range of prices, a tiny house couldn’t be more practical.
What tiny house are you? The best part about tiny homes is that you get to pick whichever one compliments your lifestyle and needs the most. Are you more of a beach house or cabin in the woods type of person? What about a pool house for your backyard or an art or yoga studio? Or maybe you’re guilty of always wishing there was somewhere else for your mother-in-law to stay while she’s in town. On the other hand, if you’re looking for something less permanent, then a to-go model might be more your speed. You can grab your house whenever you are feeling an itch of wanderlust and head out on the open road. You can park it near the coast or somewhere concealed for a relaxing and quiet weekend. If being on the water is more your thing, there are even tiny floating homes.
Who owns one? The small, but rapidly growing number of tiny house homeowners can be found all over the country. People are shedding their square footage and downsizing from coast to coast. In 2013, the tiny home movement saw 2,600 residents, while 2014 currently has about 4,000 residents and growing. People are joining the tiny house movement for various reasons. Some want to downsize due to environmental or financial concerns, others are looking for more time and freedom in their lives. Having tiny homes encourages people to live beyond their own walls and spend more time in the outdoors and their community. Tiny homes have redefined the American dream by promoting quality over quantity.
If you think you might want a tiny house as your primary home, the only sacrifice is space; the gains however, are countless. Tiny homes come in all shapes and sizes and can be modern, minimal, or luxurious. These tiny homes are a fun and exciting endeavor to which you can easily add your own flavor. And because you can get a prefab tiny home delivered right to your door, the home buying process is as simple as the homes themselves.
If you want to check out more house styles you can visit our Tiny House page on Pinterest.
For more information on Windermere Evergreen please contact us here.
Cultural Trends: How driving trends are impacting the housing market
As we have mentioned in previous blog posts, home buyers continue to consider their daily commute when making home purchase decisions. Some Americans are limiting their driving or forgoing cars all together. In recent years, the driving trends of Millennial and Boomer generations have decreased steadily. More Americans in general are embracing alternatives to driving like mass transit, walking, bicycling, car sharing, and working from home.
Recent studies and articles in publications like the Washington Post and the New York Times document declining automobile use. Driving measured by consumption of auto fuel tells the same story. Whether you are a home buyer, seller, or owner, these trends may impact your decisions in new and surprising ways, with the value of your home being shaped, at least in part, by this trend.
If you are in the market for a home, considering your commute, walk-score, and transportation options could be an important part of determining if a particular neighborhood is right for you. It might also be helpful to seek out the assistance of a real estate agent familiar with such issues.
Real estate companies have started adding search features to their websites to assist buyers with evaluating commuting information. For example, Windermere recently added INRIX DriveTime™ to its website which allows home buyers to search for homes based on commute times. Walkscore.com and Transitscore.com provide home buyers with a quick and easy way to assess the quality of a community based on walkability and access to mass transit. These online tools highlight those homes with shorter drive times and higher walkability, factors which could end up impacting the value of certain homes as some buyers “vote with their feet,” rather than with their car.
Real estate developers are embracing this trend too by building in locations that reduce car use; this is why you may notice an increase in new housing as you travel from suburban neighborhoods into cities like San Francisco, Portland, San Diego, or Seattle. In some of these cities, it is increasingly common to see townhomes built in more walkable neighborhoods, many without dedicated, private garages.
City planners are encouraging such construction by changing zoning laws to foster “Transit Oriented Development,” (TOD). TOD changes zoning to incentivize developers to create new housing construction close to light rail stations, with progressively lower housing density to about 1/2 mile from their stops. This solves what city planners have come to call the “last mile problem,” (getting more commuters home from a transit hub). Cities with TOD initiatives include Seattle, the San Francisco Bay Area, the Salt Lake City Metro Area, and the Portland Metro area.
With experts saying that consumers are trending towards less driving, home buyers may wish to evaluate the location of their purchase by asking themselves the following questions:
- Does this neighborhood lower the cost of living, while increasing the quantity and quality of free time, by increasing my independence from cars?
- What is the travel time between the places those in my household frequent most, such as home, work, schools, and recreational amenities?
If you are selling your home, consider highlighting its location as one that might improve the quality of life for the next residents by showcasing drive time, walkability, and proximity to transit—to the extent that such benefits exist.
Studies continue to show that the amount of time a person spends commuting every day is a major factor when buying a home. In recent years, there has also been a significant trend towards mass transit and reducing one’s “carbon footprint” by driving less. This is important for both buyers and sellers to keep in mind, as these factors can have a significant impact on the long-term value of a home – and on the quality of life for you and those in your community.
For more information on Windermere Evergreen please contact us here.
Investing in Real Estate Rentals
Real estate investments are a large percentage of all home sales, accounting for 24 percent of real estate transactions in 2012, according to the National Association of REALTORS®. If you are looking to feather your retirement nest, rental properties can provide an additional source of monthly income. They’re also a good way to diversify you investment portfolio if your 401(k) or other retirement plans are primarily held in stocks and bonds.
To determine if investing in a rental property is the right choice for you, here are a few things to consider.
Figuring out the dollars and sense
The first step is to calculate the potential cash flow; this is the amount of money a property brings in and the amount you need to pay out to cover expenses. It’s not uncommon for rental properties to start out having a negative cash flow which means that the amount you collect for rent does not cover the mortgage payment. If that is the case, you need to determine whether you feel comfortable making this additional cash outlay each month. Here’s how to estimate what your monthly cash flow will be.
1.Estimate your income
The first step is to determine the amount of rent you can charge for the property. Look at what comparable homes (same size, location, amenities) are renting for in your area. You can get a good idea by browsing craigslist, Zillow or Trulia for rental properties. When estimating your income, allow for the amount of time that your property may be vacant. Most landlords factor in about five percent per year; however, figures vary depending on the current rental market in your area.
2.Tally up your expenses
Your monthly mortgage payment and property taxes are your largest expenses. You may also end up picking up the tab for utilities, such as garbage, water, or gas. Again, check what comparable rental properties are offering in your market. If you do plan on paying utilities, use your own usage as a ballpark estimate.
Property insurance is another cost. Your insurance company can tell you what the premium will be if you utilize the property as a rental.
Rental properties need repairs and maintenance just like any other home. Appliances break, plumbing leaks, fixtures wear out. Figure on spending about one percent of the property’s value per year on maintenance, repairs, and cleaning.
Finding a good tenant always pays in the long run, but it does take time and money to conduct and effective search. If you use a property management company or rental broker, include those fees. If you are conducting the tenant search yourself, add in any advertising expenses and a nominal cost, about $30, for running credit checks on prospective tenants.
The good news about all these operating and maintenance expenses is that they may be deducted from your rental income on your taxes. If you’re thinking about upgrading the property, keep in mind that expenses related to improvements to the property must be depreciated over time, rather than deducted in the year paid. Improvements are designed as actions that add to the value of the property or substantially prolong its life. Examples include adding a new bathroom, remodeling a kitchen, installing insulation or building a deck.
3.Calculate the cash flow
Now total all the monthly expenses and subtract that number from your estimated monthly income to determine your cash flow. To fully evaluate the investment, you also want to factor in the tax write-off benefits of depreciation. Depreciation is an accounting deduction that the IRS allows you to take for the overall wear and tear that occurs on the home over time. Only the building can be depreciated, not that land. The value of a residential structure is depreciated over 27 ½ years at a rate of 3.64 percent of the building value per year. For example, if you buy a residential rental property for $300,000, and the building is worth $200,000, you can take $7,280 each year as a depreciation deduction ($200,000 x .0364)
In addition, if your rental property shows a loss for the year, you may be able to deduct the loss on your tax return. It’s a good idea to consult with your tax advisor to help determine which deductions you qualify for and other tax implications for your situation.
For more information on Windermere Evergreen please contact us here.
Selling your home: A step-by-step approach
Whether you’re starting a family, moving for your job, getting ready to retire or embarking on a new chapter in your life, when your home no longer suits your current situation, it’s time to think about selling it. Although this can be a bit complicated, with the help of your agent, you can minimize the hassles, get the best possible price, and shorten the distance between “For Sale” and “Sold”.
Price it right
If you want to get the best possible price for your home and minimize the time it stays on market, you need to price it correctly from the beginning. Your agent can give you a clear picture of your particular market and can provide you with a comparative market analysis (CMA). A CMA contains detailed information on comparable homes in your area, including square footage, date built, number of bedrooms, lot size and more. It lists pending sales and houses sold in your area in the past six months, along with their actual sale prices.
By comparing your home to similar homes in your neighborhood and reviewing their list prices and actual selling prices, your agent can help you arrive at a fact-based assessment of your home’s market price.
Prepping your house for sale
You want to make a positive first impression when you list your home for sale. Here are some tips on how to enhance your home’s best features:
Work on your curb appeal
Get rid of moss on your roof. Power wash your front walk, porch, deck and patio. Mow the lawn, trim the hedges, weed the flowerbeds and add spots of color with container plants. Clean all the windows inside and out and repair them if they don’t open and close easily.
Refresh, repair and repaint
This goes for interiors and exteriors. If you see peeling paint, add a fresh coat. If your living room is bright lime green, consider painting it a more neutral shade. Make necessary repairs. You don’t want to turn off a buyer with a dripping faucet, a broken doorbell, a clogged downspout or a cracked windowpane.
Deep-clean, from floor to ceiling
Clean rugs, drapes and blinds and steam-clean carpeting. Get rid of any stains or odors. Make sure kitchen appliances, cupboards and counters are spotless and that bathrooms shine.
Declutter and depersonalize
Clean, light-filled, expansive rooms sell houses. So be sure to downsize clutter everywhere in your home, including cupboards, closets and counters. You might also consider storing some furniture or personal items to make rooms look more spacious. Take advantage of views and natural light by keeping drapes and blinds open.
Make an impact on the market
If you want to sell your home, you need to go where the buyers are, and today they’re on the Internet. According to the National Association of REALTORS®, in 2012 90 percent of homebuyers used the Internet as an information source, and for 41 percent of homebuyers it was the first step in the home-buying process.
By working with your agent, you can list your home on Windermere.com and other relevant websites. He or she will put together a listing with attractive photos, an appealing description and all the information a potential buyer needs. Your agent will also market your house, which may include advertising, direct mail and open houses.
Show your house
After you’ve taken care of all the repairs and cleaning tasks outlined above, your home is ready for its close-up: an open house. It’s actually best for you and your family to leave when potential buyers are present so they can ask your agent questions. But before you go, you might want to:
· Take your pets with you
· Open the shades and turn on the lights
· Light a fire in the gas fireplace
· Bake cookies
· Keep money, valuables and prescription drugs out of sight
Be flexible in negotiating
If you get offers below your asking price, there are a number of strategies you can try in your counteroffer. You could ask for full price and throw in major appliances that were not originally included in the asking price, offer to pay some of the buyer’s fees, or pay for the inspection. You could also counter with a lower price and not include the appliances. If you receive multiple offers, you can simply make a full-price counter.
Your agent can suggest other strategies as well and help you negotiate the final price.
If your house doesn’t sell or you’ve received only lowball offers, ask your agent to find out what these prospective buyers are saying about your house. It might reveal something you can consider changing to make your house more appealing in the future.
Breeze through your inspection
When a buyer makes an offer on your home, it’s usually contingent on a professional inspection. A standard inspection includes heating and cooling, interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; and the foundation, basement and visible structure. The inspector will be looking for cracks in cement walls, water stains and wood rot.
You can always opt for having an inspection done prior to putting your house on the market, so you can address any potential problems in advance. Your agent can give you several recommendations for qualified inspectors in your area.
Close with confidence
Whether this is your first time or your tenth, your agent can help guide you though the complex process of selling a home. Moreover, he or she can answer any questions you may have about legal documents, settlement costs and the status of your sale.
Your agent’s expertise, resources and extensive network also work for you when you’re buying your next house. Even if you’re moving out of the area, your agent can refer you to a professional agent in your new community.
If you have questions about the buying or selling process, or are looking for an agent in your area, we have professionals that can help you. Contact us here.
