Smart Tips For Selling A Multi-Family Building

Tips For Selling A Multi-Family Home

Many out of state buyers are looking to make a purchase of a multi-family building here in Thurston, Lewis, Mason, Grays Harbor due to the lower cost as compared to other states.  With the lower cost and higher Return on Investment (ROI) out of state investors are lining up to purchase great cash flowing properties and as a result are at 5-7 year highs.  While demand is high that does not mean multi-family building owners can expect a cake walk when it comes time to sell.  Multi-family building owners still need to prepare their buildings so that they attract buyers who want a ready to cash flow building as opposed to those buyers looking for a bargain.  Bargain hunters will only be interested in a building if the price is in the bargain range.

A multi-family home is a building that allows for two or more families to live together in separate apartment/living spaces but generally under one roof.  Conventional mortgage financing can be used for multi-family buildings when there are no more than two to four units in the building.  Anything more than four units requires commercial lending products in order to purchase.  Due to the allowance of conventional mortgage financing for 2-4 family buildings buyers can actually buy one of these buildings as owner occupied and pay a lower amount for down payment (anywhere from 0% to 5% depending on the loan program).  If a buyer does not intend to occupy the building then down payment requirements are in the 20-25% range depending on the lender.  For commercial mortgages for multi-family buildings greater than four units down payment requirements can be in the 20-30% range or more depending on lender requirements.

Read on for some multi-family preparation for sale tips…

LEAVE ONE UNIT VACANT

In a multi-family building that has 2-4 units it is advisable to leave one unit vacant if possible.  By keeping a unit vacant in the building showings can be done at any time with very little notice required.  With any tenant occupied unit notice requirements generally mean letting the tenant know at least 24-48 hours in advance of a visit.  Multi-family building buyers can view the vacant unit and determine if they like what they see.  If the buyer wishes to see the occupied units then a second appointment can be made to view the occupied units after sufficient tenant notice has been provided.  This results in less time wasted for both the buyers and the tenants.

As noted above with 2-4 unit buildings buyers are able to purchase the building as owner occupied and live in the building with a much lower down payment than if they were to buy it as non-owner occupied.  The vacant unit allows buyers who want to live in their new purchase an opportunity to do so without the need to move any existing tenant out.  While a buyer can purchase a building as owner occupied when all of the units are occupied there may be costs associated with ending a lease early for tenants on long term leases in order to allow the buyer to get an apartment to live in.

For buildings with five or more units the current owner should have a vacant unit available during the time on the market in order to allow for quick and easy showings for any potential buyer who wants to see the property.  By having a vacant unit a buyer has the opportunity to see how a typical apartment looks in a building and should be able to tour other common areas as well to view overall site condition.  If the buyer likes what they see they can schedule up a follow-up appointment to see the occupied units or they may be ready to make an offer just based on what they saw and allow their inspection team to evaluate the occupied units at a later time.

VACANT UNIT PREPARATION

Just because a unit is vacant does not mean it should be left as is with the thought that the new owner can deal with it as they see fit after they buy it.  If the vacant unit was left in very poor condition by the prior tenant then this will reflect poorly on the building owner.  Most investors looking to buy a multi-family building want a building that has been cared for.  A unit left dirty and without basic repair reflects poorly on the current owner which could cause buyer’s to wonder how bad the other units and common areas in the building were treated over time.  Just as with a home there should be some pride of ownership in an investment, if the seller cannot be bothered to keep their building looking decent then don’t expect any reasonable offers on the building.  Instead the buyers looking for a deal are likely the only ones to make an offer on the building and the offer will reflect the poor condition of the building.  Instead units should be cleaned up and ready to rent for another tenant just as if the seller was not planning on selling the building.

ADDRESS DEFERRED MAINTENANCE

If your building has areas where maintenance has been deferred due to time or budget constraints now is the time to get the deferred maintenance tasks completed.  Whether they be in common areas or in tenant areas cracked windows, leaking pipes, missing shingles and more should all be addressed.  Not only does addressing deferred maintenance make a building look better to potential buyers it can also help deter future damage whether it be from criminals looking for an easy target or a tenant thinking since it is broken or in poor condition anyway why care if it gets worse.  Building owners should also contact a pest professional to treat any pest problems as potential buyers don’t want to have to deal dead bugwith termites, bed bugs or more when the current owner should have been dealing with it in the first place.

BUILDING INSPECTION

As is normally recommended for a single family home a pre-listing inspection is a valuable tool that can save time and money when it comes to selling a multi-family building.  The inspection can uncover issues with the building that could be repaired which would mean one less repair that could cause a buyer to walk away.  Too many repair issues coming up on a buyer inspection could cause them to change their mind about purchasing a building and since it generally takes longer to sell multi-family buildings compared to single family buildings that represents a lot of wasted time if a multi-family building owner has to put the building back on the market due to a buyer backing out.  The pre-listing inspection is not only a smart thing to do since it will remove one area that could result in a deal falling apart, but the cost for the inspection may even be tax deductible too.

GET AN APPRAISAL

Due to the nature of multi-family buildings, especially when there are more than four units, finding the right price for such a building may not always be possible using traditional methods.  As with selling real estate in general the amount paid for the building when purchased, the amount of money spent on upgrades and updates or the actual cost to build a new similar building play no part in determining the current price of a building.  A better way to determine price would be to get an appraisal from an appraiser who has experience with appraising multi-family buildings.  Not only will the appraisal allow the building owner to determine a good sales price when on the market, in the event a buyer’s lender comes in with a lower appraisal amount the prior appraisal may help if the buyer decides they want to appeal their lender’s appraisal.

WORK WITH A REAL ESTATE AGENT WHO KNOWS HOW TO SELL MULTI-FAMILY BUILDINGS

Selling a multi-family building is different than selling a single family building mainly because there are different types of buyers involved.  With a single family home the buyer can be a person looking to buy a home to live in or an investor looking for something to add to their portfolio.  Multi-family buildings on the other hand are mainly being looked at by investors.  The occasional owner occupying multi-family buyer may come along when the building has four or fewer units but for the most part investors are the primary ones looking to buy multi-family buildings and as a result traditional home marketing does not work for multi-family buildings.  Hence the need to work with a real estate agent who works with multi-family buildings.  Even better would be to work with one who not only works with multi-family buildings using a realtor can increase your profitbut may even own some themselves.  By working with a professional real estate agent you will be getting access to their network of contacts and knowledge of the market in order to better help get the multi-family building sold.

BOTTOM LINE

Due to the recent attention the area has been receiving for their relative lower cost multi-family buildings there has been increased purchase interest by out of state investors.  Many out of state investors are looking for properties that are ready to go and start earning them a return on investment as soon as they can close.  By properly preparing a multi-family building for sale building owners can help ensure they get top dollar for their property.

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Homebuyers entering the competitive home buying market.

Here are some helpful hints for home buyers who are considering entering the highly competitive Thurston County home buying market. With inventories at record lows, the best properties will go quickly. With so much pressure on the home buyers, it is important to get a jump on the process. Now more than ever… the need for a well thought out plan can relieve stress and prepare you to act confidently and quickly.
Setting expectations

As a part of making a decision to buy residential real estate, near the top of the list would be meeting with a lender. They can assist you to discover what you are qualified to buy based on income and debt ratios. A local lender can also help you choose a loan program best suited for your unique needs. Be sure you get pre-approved and not just pre-qualified. The difference will carry weight with sellers when you present offers particularly in a multiple offer situation.

Equipped with your pre-approval, the second thing on your list is to seek out a local, qualified, experienced, full time real estate agent. Remember… in the state of Washington, the seller pays the real estate fees for the buyers’ agent. In effect you get full, exclusive and personal representation throughout the real estate transaction.

Your agent will play a key role, acting as your local expert guide, to successfully lead and to achieve your best outcome. Take the time to interview them to be sure they are a fit. There is simply no substitution for meeting them face to face. As a result of your meeting, you should feel informed, confident, safe and understood.

Understanding the process

Once you have made your decision concerning an agent, you should set aside time to discuss the home buying process in detail. You should be prepared to know what to expect. They will help you set your search perimeters, explain the offer/purchase acceptance process, understand what is and how much earnest money required will be. In addition, you should understand how the contract obligates each party to actions and the timelines to do them in. You will need to rely on your agent’s suggestions for strategy in the composition and execution of the offer, and possible recommendation for inspections. You should feel completely comfortable with HOW this all happens.

In the state of Washington, buyers are expected to” beware,” in other words, the burden of discovery is on you. With the help from your agent you will need to put your “detective’s hats” on throughout the process.

With the help of your agent, be sure to collect and review a completed NWMLS Form 17 Property disclosure form. It serves as record of knowledge concerning the specific of the property from the current homeowner’s perspective. Be sure you understand what it says. Ask clarifying questions.

With the assistance of your agent, you should receive and review the Title Report. Look for liens & assessments (unpaid or unresolved debt recorded against the property), easements of record such as septic, ingress/egress, utility, or encroachments that may affect your use and enjoyment of the property.
Be familiar with the Inspections addendum that you should have incorporated into your offer. With your agents assistance understand how it works and what your options will be as a buyer.

I believe it would be advisable to have a copy of a blank NWMLS purchase and sales agreement and usual addendum to read prior to looking at a single home and certainly before you present an offer to purchase.

While some of these items of discover will be specific to an individual property, many important factors can be explored even before you begin looking at homes. Issues like schools, proximity to work, medical facilities, emergency services such as fire departments, shopping and personal interest can help you narrow down your search perimeters.

Below I have listed some research tools that you may find valuable (It is not meant to be comprehensive in scope).
Sexual predator locations http://www.nsopw.gov They have a mobile app that you can download on your mobile devises that you can access from the field.

http://www.countyoffice.org/wa-thurston-county-public-scho…/ local school information, this site will map out for you each school and its location.

https://www.publicschoolreview.com/washingt…/thurston-county This site is set up to help assist you in evaluation of each school of interest. There are many other sites that can/will be helpful in this process.

Police and crime information regionally:
http://www.co.thurston.wa.us/sheriff/
http://www.ci.lacey.wa.us/Contact-Us
http://olympiawa.gov/city-services/police-department.aspx
http://www.ci.tumwater.wa.us/departments/police

Emergency Medical facilities:
http://www.co.thurston.wa.us/medic1/
http://www.co.thurston.wa.us/health/
If you want a map of locations and website links for Emergency Medical facilities in Thurston County, simply highlight the words in red, copy and paste them in your google browser address bar and enter. A map with locations and individual website information will populate for your consideration.

With the burden of discovery resting on you as the buyer, there are other resources you should be familiar with. Things like local zoning codes, environmental concerns, traffic issues, freeway access and much more you can research via the internet. Many of the regional answers can be found at http://www.geodata.org This is the Thurston County Planning department site with links to many other departments including the accessors office for property tax information and valuations. It also has maps for urban growth areas, wetland, critical areas (including pocket gopher issues) and adjacent property owners’ information. You will find this to be a valuable resource. If the perspective property falls within a specific municipality like city of Olympia, lacey, Tumwater or Yelm, please visit each of their specific websites for answers to your questions.

As you can see, there is much to do in advance to prepare you to make the best possible decisions. In condensed time frames, it could be likely that many of these important issues may be missed.

Again… if you have additional questions or would simply like more information, I am happy to offer a “no cost, no obligation” opportunity to visit about your specific needs. I can be reached in any of the following ways listed below.

I am wishing you the very best in all of your real estate endeavors in 2018.

Preparing to Sell

Selling your home doesn′t just mean hiring a realtor to stick a sign out front. There are a lot of preparations you should make to ensure you get the best offer possible in the shortest time.

Repair. Just because you’ve gotten used to the cracks in the walls and the rattles in the radiators doesn’t mean a buyer will too. If you have hardwood floors that need refinishing, be sure to get it done—hardwood is a huge selling point. Buyers like to snoop around, so be sure to fix any sticky doors or drawers as well. Finally, don’t forget to address any issues with the exterior—fences, shingles, sidewalks, etc. After all, without curb appeal, some buyers may never get to see the inside.

Neutralize. You want buyers to see themselves in your home. If your living room has lime green shag, wood-paneled walls, and all your collectibles and personal photographs, this will be much harder for them to do. Try replacing any bold color choices in your floors and walls with something more neutral—beiges, tans, and whites. Repainting and reflooring will make everything look fresh and new, and help prospective buyers imagine all the possibilities.

Stage. Once your house is clean and updated, it’s time to play dress up. Home stagers can add small details and décor touches that will bring out the possibilities in the various spaces in your home: lamps, mirrors, throw rugs and pillows, flowers, decorative soaps and towels, patio furniture. Home staging can be particularly useful if your home is especially old or if the exterior looks dated. Think of it as a little mascara and rouge—if it’s done right, you notice the beauty, not the makeup.thinking of selling

How Do Homeowners Accumulate Wealth?

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The difference between buying and renting are massive. According to the Federal Reserve, a typical homeowner’s new worth was $ 195,400, while that of renter’s was $ 5,400. The data reflects 2013 and the next survey of household finances, which is conducted every three years, will be out in 2016 based on what has happened since 2013 and projecting conservative assumption of what could happen next year to home prices if we see only 3% price growth, the wealth gap between homeowners and renters will widen even further. The Fed is likely to show a figure of $ 225,000. to @ 230,000 in median net worth for homeowners in 2016 and around $ 5,000 for renters.  That is, a typical homeowner will be ahead of a typical renter by multiple of 45 on a lifetime financial achievement scale.

Though there will always be discussion about whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth.  The simplest math shouldn’t be overlooked.  A vast majority of homebuyers take out a 30- year fixed rate mortgage to make a home purchase. After 30 years, there is no mortgage payment (nor rent payment).  So this home price growth over that time period would be the equity that the homebuyer would have accumulated.  For example, the median home price  of a single-family dwelling in the U.S. thirty years ago in 1985 was $ 75,500. This year it will be at least $ 220,000. That figure of $ 220,000 is the housing component of the person’s wealth Even had home prices not risen, the person would still have $ 75,500 in wealth today – on top of not paying any further monthly mortgage after 30 years.

This simple example does not play out nearly as neatly in the real world, since people do not stay in one residence over the 30 year period.  Almost all homeowners trade up, change neighborhoods, or move to a better school district at some point.  However, they are able to make those residential relocations due to the housing equity accumulated, even over a shorter period, and can immediately apply that equity to the next home as a downpayment.  Therefore the conditions of steadily building housing wealth still hold.

We also know that not everyone can or should be homeowners.  The memories of easily accessible subprime mortgages and subsequent harsh foreclosure pains are still fresh, and remind us of the devastating impact on the families involved, local communities and to the broad economy.  In addition most youg adults have not developed the financial standing or have found a stable, desirable career and therefore, choose not to be homeowners until later.  The homeownership rate among households under the ate of 35 is 35% currently and rarely rises above 40% historically.  For those under the age of 25, the current ownership rate is 23% and rarely rises above 25%.  But, the time will eventually come when people want to convert to ownerhip. By the time people are their prime-earning years 45 to 55, nearly three-forths do eventually become homeowners.  By retirement, nearly 80% are homeowners.

A recent survey of consumers commissioned by my organization revealed that 80% believe that purchasing a home is a good financial decision (2015 National Housing Pulse Survey). Most consumers appear to already understand the simple math and the benefits of homeownership.  So don’t overthink the matter of whether now is a good time to buy, or whether stock market returns will be better.  The exact timing of a home purchase will have little financial impact in the big scheme of things.  Just know that homeowners generally do come out ahead of renters in the long run. Wealth building

Top 13 Tasks to Complete After Closing on A New Home

Top 13 Tasks To Complete After Closing On A New Home

There are many steps to buying a house that buyers are often aware of. On the other hand, there are also many steps that buyers should take after closing on a new home that many buyers aren’t aware of.

It’s important that when buying a house you realize that the work doesn’t stop as soon as you close on your new home. In fact, in many cases, the work is just beginning.

Working as a real estate agent in Olympia WA for over 20 years, I find it extremely important to educate buyers on what to expect as a homeowner. Being a homeowner comes with new tasks and responsibilities, many of which should occur right after closing on a new home.

Below you’re going to find out 13 of the top tasks to complete after closing on a home. It’s extremely important that when buying a house you consider completing the following tasks after closing. By completing the following tasks, new homeowners greatly improve the chances they’re happy with their home purchase for many years to come!

1.) Make Copies Of Documents & Store In A Safe Place

When buying a home there are a lot of documents that will be signed and executed. Many of the documents that buyers receive when buying a home maybe needed in the future for a variety of reasons.

For example, if a buyer decides to put up a privacy fence on their property, a local municipality is likely going to request to see the survey map of their property prior to agreeing to a permit. Yes, getting permits for additions and improvements is vital!

After closing, it’s important that you get copies of all the documents from the buying process as well as the closing. Make sure that you store these documents in a safe place, such as a safe or private filing cabinet.

One tip for first time home buyers or buyers purchasing their fifth home is to also store these documents on a secure cloud based website or software such as Google Drive or Dropbox.

2.) Change or Re-Key The Locks

One task to complete after closing on a new home that most buyers are aware of is changing the locks or re-keying them. A common mistake made by new homeowners who’ve recently closed on their new home is they decide to not spend the money to change the locks.

Changing the locks on a new home is highly recommended for security purposes. One of the ontingencies in a real estate purchase offer is that all keys to a property are delivered to a buyer at closing, however, it’s impossible to truly know if every key is accounted for.

The cost of changing the locks or having them re-keyed should not be more than a couple hundred dollars, depending of course on the number of locks. A couple hundred dollars is well worth the additional “peace of mind” that comes with knowing you have the only keys that can gain access to your new home!

Change Or Re-Key Locks After Closing On A Home!

3.) Update Any Keypads

Homes nowadays are being equipped with smart home technology features. One of the most popular features that today’s buyers are looking for in homes are keypad door locks. If you’re buying a home with keypads that lock and unlock the doors, after closing, you need to update the keypads and codes.

Most home sellers will leave instruction guides to electronic keypads which have instructions on how to change keypad codes. If not, you can find most instruction guides online.

In addition to keypad door locks, another keypad that should be updated after closing on a new home are garage keypads. Garage keypads have been around for decades and it’s important that if the garage can be opened by a keypad, you change the code on that as well as the any door keypads.

4.) Start A Home Maintenance List

Being a homeowner comes with maintenance tasks. Regardless if a buyer is planning on completing maintenance themselves or plans on hiring a professional, it’s important that after closing on a new home that buyers start a home maintenance list.

It’s a good idea that when starting home maintenance lists that the tasks are broken up by seasons or months. For example, there are many spring home maintenance tips that should be completed once the gloomy winter months are finished.

Whether the home maintenance list is one piece of scrap paper or on a detailed spreadsheet, it’s very important to start planning the upcoming maintenance tasks. By keeping up on maintenance tasks, buyers can greatly reduce the number of huge repairs and expenses that come with deferred home maintenance.

5.) Alert Important People & Companies About Your Move

After closing on a new home, another important task to complete relatively quickly is alerting important people and companies about your new home. Within a couple days after closing on a new home, a buyer should first alert the United States Postal Service. This will ensure that important mail will not go undelivered!

The USPS is only one of the important people and/or companies that should be aware of a change of address. Below are a few of the other important people and/or companies to alert of a new address.

  • Friend and relatives
  • Work
  • Financial institutions
  • Insurance companies
  • Phone, internet, and cable companies
  • Schools
  • Medical offices – dentist, physician, etc…
  • Accountant
  • Church
  • Newspaper subscriptions

Buyers who understand who to alert about their new address after closing on a new home will make moving less stressful. Buyers who have to worry about losing mail or not having insurance because of not alerting the proper parties about their new address are adding unnecessary stress and anxiety.

6.) Check The Water Heater

One of the top reasons to complete a final walk through before closing on a home is to check that the home still has hot water. While you may have hot water at the final walk through, you still should check the water heater temperature and water pressure in the home after closing.

Everyone prefers their own temperature of water and also pressure, so make sure you evaluate these items after closing. Most water heaters have dials where you can adjust the temperature of the water. Here is a handy guide from Energy.gov that provides some tips for adjusting water heater temperatures. It’s also recommended that once a year you drain your water tank to get rid of collected sediment in the bottom of the tank.

There are a few different ways to adjust water pressure in a home. One of the most common ways to adjust water pressure is by adjusting the water pressure reducing valve. The water pressure reducing valve is generally found near the water main coming into a home near the main shutoff.

Make sure before adjusting the water pressure reducing valve to drastically in a home, you’ve read up on ips for adjusting the water pressure. Skipping the proper steps to reducing the water pressure reducing valve can lead to some major issues in a home, such as burst pipes.

Check Water Heater Temperature & Pressure After Closing!

7.) Check The HVAC Systems

One of the most important reasons to have an inspection when buying a home is so that the HVAC systems can be looked at. Assuming that the HVAC systems check out after an inspection, there are still a couple tasks that buyers should complete after closing on a new home.

It’s possible a buyer will request a seller have the HVAC serviced prior to closing, but if not, one of the first tasks to complete after closing is to have the HVAC serviced by a professional. The cleaning of a furnace and central air conditioning unit is recommended every year and can help prolong the life of them.

Another task to complete after closing on a new home is to make sure the filter is new in the HVAC system. Old and dirty furnace filters can drastically impact the efficiency of an HVAC system, so replacing them regularly is recommended.

8.) Freshen The Interior Walls & Ceilings

One of the first things that many buyers will complete after closing on a new home is freshly painting the walls and ceilings. It’s a smart idea to complete any painting of the walls and ceilings prior to moving in personal belongings, if possible.

It’s critical to understand that the type of paint is dependent on the type of room being painted. For kitchens and baths, semi-gloss paints are suggested because they’re easier to clean when comparing to a gloss paint. As a homeowner, understanding ow to select the right paint is important.

9.) Complete A Deep Cleaning

Real estate contracts request that homes are in “broom-clean” condition upon closing. “Broom-clean” condition can mean two very different things, depending on who you’re talking with.

After closing on a new home, completing a deep cleaning is suggested. It’s possible that the previous owners did a fantastic job so a deep cleaning may be relatively easy.

In some cases, hiring a professional company to complete a deep cleaning may be required. If a buyer prefers to complete the deep cleaning themselves, some of the tasks to consider completing after closing include;

  • Wash all windows, inside and outside
  • Steam clean carpeting
  • Wash any draperies or valences that were included
  • Clean included appliances
  • Clean and polish wood flooring
  • Scrub tile grout

10.) Consider An Energy Audit

13 Recommended Tasks To Complete After Closing On A Home – Complete A Home Energy Audit!

If you’re buying a new construction home, an energy audit is likely unnecessary. If you’re buying a home that’s older, you may consider an energy audit after closing.

Older homes are notorious for poor efficiency, especially if they haven’t had an energy audit in many years. One task to consider after closing on a new home is having a local company perform an energy audit.

There are many companies in the Greater Rochester NY area who perform complimentary energy audits on homes and this is likely the case in most cities. During an energy audit the homes insulation levels, heating systems, cooling systems, and a variety of other areas and features will be inspected to see if there are areas that could be improved.

It’s important when considering an energy audit that a reputable company is being used. The Residential Energy Services Network, RESNET, can help you find a contractor who’s a qualified home energy professional in your area.

11.) Investigate Smart Home Technology

Each and everyday it seems like a new piece of smart home technology is being released. Bigger, better, smarter, and even more impressive. The possibilities seem endless when it comes to smart home technology. The impact of smart home technology on real estate cannot be understated.

After closing on a new home, buyers should explore smart home technology options that may interest them. Whether it’s a thermostat that can be adjusted by a mobile phone or sensors that can detect if there is water in a basement, after closing on a new home it’s a good idea to at least explore the incredible technologies that are out there for homes.

12.) Research All Tax Deductions & Discounts

Many homeowners don’t realize that there are some great tax deductions for home buyers. After closing on a new home, it’s important to explore all of the tax deductions and discounts that are available in your area, city, and state.

A great person for homeowners to consult with is their accountant. An experienced accountant can help a buyer understand any deductions, discounts, or implications of owning a home.

After closing, it’s also important to contact the local municipalities and state about discounts that maybe available. In New York State, homeowners are eligible for the STAR exemption which is a discount on the local school taxes. The discount amount varies from school district to school district.

13.) Meet The Neighbors

When a new homeowner moves into a neighborhood the surrounding neighbors are usually curious to meet the new owners. After closing on a new home, get out and meet your neighbors!

Not only is meeting the neighbors the “neighborly” thing to do, it’s also a good opportunity to exchange contact information with them just in the event of an emergency. Homes with security systems can be secure, however, sometimes the best security for a home are the surrounding neighbors!

Final Thoughts

Being a homeowner is an amazing feeling and as you can see, there are things to do, even after closing. The above 13 tasks are all very important and will improve the overall home buying experience.

As the years go by in a home, the list of tasks typically continues to grow but owning a home is a great investment and accomplishment! An additional tip for homeowners is to use the home inspection report, if one was performed, as a resource. An inspection report often provides detail as to when certain things should be serviced, maintained, or replaced.

Gutter Cleaning Reminder

Gutter Cleaning

Description

What Gutters need to be cleared of leaves and debris that may have accumulated in order to function properly. Why Clogged gutters can wreak havoc on your roof, siding, and foundation. These repairs can be extremely expensive. How Many homeowners opt into a service contract with a gutter cleaning company that schedules twice a year. We recommend these plans because they are typically affordable and there is potential danger involved with accessing the gutters on many homes. Generally these specialists will get up on a ladder and check & clear the gutters & downspouts of debris. Clearing them can often be challenging due to baked on foliage (spring) or frozen leaves (winter) attached to the insides of the channels, so if you are doing this yourself, make sure you have a good ladder and a spotter helping you out. Water is generally run through the system after the channels are cleared. Make sure that all of your downspouts are extended away from the foundation at the ground level. Often, it may be necessary to regrade your soil in some spots so that all water is directed away from your home.

6 Reasons to Renovate Now !

Selling Your Home This Year? 6 Reasons To Renovate Now!

Face it. Your home’s not perfect. You may keep up with general maintenance, and perhaps you’re meticulously clean. But how old is your kitchen? Do your paint colors reflect current trends? Could your living room use some updating?

When it comes to selling your home today, it’s got to be perfect, or buyers will simply move on to the next option. Doing some renovations, whether that means overhauling areas that are long overdue for a facelift or making some simple changes that freshen up the place, is typical. But if you’re thinking they can wait until you’re ready to list your home, these 6 reasons may make you rethink that plan.

1. You get to enjoy the new stuff

“A worthy update can either serve to reduce your cost of living while you remain in the home or add significant value to the home’s sale price when you decide to put it on the market,” said Scott McGillivray, a real estate investor and host of the HGTV show Income Property to US News.

But if you’re going to spend some cash on updating and renovating your place, you should at least be able to get some enjoyment out of the updates before turning the house over to someone else, right? If you’ve been waiting for 10 years for new appliances, it would be a shame to not have the opportunity to at least cook a few meals and throw a dinner party or two.

blue kitchen

2. They always take longer than expected

It’s a fact of renovation. If your timeline is six weeks, it’ll take 12. At least. Giving yourself plenty of time before you’re ready to list your home will help you avoid a stressful scramble at the end when you’re trying to get it on the market.

3. There may be issues you’re unaware of

Your Realtor will point out areas that need to be addressed and recommend changes to make your home more saleable. But, getting your home ready to sell might be harder than you expect if problems like mold or termites are uncovered. Getting a jump on any big issues or anything that goes beyond the cosmetic will give you the time you need to fix the problems and hold onto your sanity.

4. They don’t have to be huge

No one said you have to take your home down to the studs. Sometimes, a light touch is all that is needed. “Start by thinking small,” said Realtor.com. “Minor cosmetic upgrades go a long way in getting more buyers through the door for a quicker sale – and time on market is key to determining what you’ll net at closing.”

Fireplace-beforeafter-1024x6755. You’re going to need them

You may not love the idea of having to do anything to – or spend any money on – your home, especially if you already have your eyes on a new one. But, most every home needs a little upgrading, updating, or, at least staging. You don’t want to have the one place in the neighborhood that won’t sell because potential homebuyers see a project house, without the project price.

6. You’ll get a return on your investment…if you renovate smart

Speaking of price…updated homes typically sell faster and for more money, if the updates have been done well and they’re the ones buyers are looking for. If you’re not sure which renovations to consider, take your cues from the Cost vs. Value Report, which tracks the “average cost for 29 popular remodeling projects with the value those projects retain at resale in 99 U.S. markets.” It’s a great way to look at national trends but also break down what’s trending in individual areas. “How much work you’ll need depends on your home’s value, your market, and the comps in your neighborhood,” said Realtor.com.

US News also has a great list of “popular updates that are worth the money,” including adding a backsplash in the kitchen and updating bathroom vanities.

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