Uncategorized

Improving your home before you sell it can seem like wasting money. After all, if youre not going to live there much longer, why remodel or add features you wont get to use much?

Because, as any real estate professional will tell you, the upgrades can help you recoup the cost and more in a higher selling price for your home. Without some updates, home sellers may realize their home is not worth as much as they thought.

Here are some of the features that increase the resale value of a home:

1. Laundry Room
Starting at $1,000, adding a laundry room to a home helps clean out other rooms where clothes may be stacked and can keep the living space tidier.

The basement is the easiest place to put a laundry room. Another option is to add a laundry closet that fits a washer and dryer and some shelves.

2. Energy Efficient Items
Energy Star-qualified windows and appliances can be good selling points for buyers looking to save on their utility bills.

A water-efficient washing machine can cost anywhere from $500 ” $1,800, while a dishwasher that senses how dirty the dishes are so that less water is used costs about $225 ” $1,600.

3. Ceiling Fan
For as little as $50, a ceiling fan can lower cooling costs when used with an air conditioner. After chilling a room, a ceiling fan can keep the room cool and allow the thermostat to be raised a few degrees.

4. Patio
For about $950, you can add a 120-square-foot concrete patio. This feature can be very appealing to buyers and can make a backyard look much more inviting. Add a table and some patio furniture, and buyers can envision themselves sitting outside with friends at a party.

5. Hardwood Floors
Since they are easy to maintain and have a clean look, hardwood floors are gaining ground in popularity. If refinished periodically, hardwood floors can last a lifetime, compared to about 10 years for carpet.

6. Garage Storage
Storage space always seems to be lacking in homes, especially for growing families. Add some storage to a garage to keep clutter out of a homes living areas and youve essentially created a bonus space.

Storage in a garage can include cabinets, shelves, rows of boxes, and improved lighting and extra electrical outlets.

7. Exterior Lighting
Light fixtures are relatively inexpensive, and illuminating the outside of your home doesnt have to be a Disneyland-at-night event. At the very least, put spotlights on walkways and the driveway so that nighttime visitors wont stumble to your door in the dark.

Published with permission from RISMedia.

When it comes to home improvement, the options are endless. While many homeowners have their sights set on a huge overhaul (hello five-star kitchen complete with the latest and greatest appliances and gadgets), simple home updates that can be completed in a timely manner”without breaking the bank”typically offer the best return on your investment.

If youre itching to upgrade your home, whether with your own two hands or by bringing in a certified contractor, consider the following ideas:

Change the Hardware. If a complete kitchen or bathroom overhaul is out of the budget, dont write these rooms off your list just yet. By simply replacing the hardware (drawer pulls, knobs) and faucets, you can create an entirely different look. If youre feeling really adventurous, and in the mood for a more drastic effect, you can even paint the cabinets. Or, dress up the kitchen with a decorative backsplash that ties the whole room together.

Add a Little Paint. Do all the rooms in your home blend together because theyre painted the same color? Painting an accent wall is a great way to help a room pop. Whether its in the kitchen, living room, dining room (or any other room in the home), an accent wall is a simple way to incorporate a color you love into the space without going overboard. If youre content with the walls just the way they are, another popular alternative is to paint the ceiling.

Update the Entryway. An inviting entryway is just as important for creating a good first impression among visitors as it is among prospective buyers. Wow your guests”and even your family”with an updated facade. From (re)painting the front door to incorporating vinyl door decals to welcome visitors in style, updating the front of your home is a surefire way to create a welcoming environment.

Install Hardwood Floors. Hardwood floors are a popular choice among homeowners looking to update their space, and with a little elbow grease and know-how, avid do-it-yourselfers can complete the look with their own two hands. Tongue-and-groove flooring that fits together like a puzzle is a safe bet for anyone looking to get their hands dirty in home improvement projects this season.

Add a Porch/Patio. Whether theyre semi-enclosed, attached to the homes front entrance or built at ground level, the addition of a porch/patio extends a homes living space. From adding value to your home to upping its curb appeal, if you have the space, this is one project you should move to the top of your to-do list.

No matter what type of home improvement project you choose to undertake, its important to remember that its okay to call in reinforcement, especially when it comes to projects you might not be able to tackle on your own.

When considering completing any home improvement project, you should consider the value of hiring a general contractor, says Lance Malcolm, chief operating officer of Contractor Connection. An experienced contractor can be the difference between keeping the project moving forward smoothly or being delayed.

Published with permission from RISMedia.

Here are three innovative smart tech features you need to introduce to your home.

Bluetooth Light Switches

Smart lighting systems still need to have light switches. Bluetooth switches seamlessly connect to the lights in your home.

Security with Style

Security cameras can be unsightly and unsettling inside of a home. With this in mind, companies are designing stylish furnishings, like lamps, that are equipped with discreet security cameras.

Recycled Water Systems

Water recycling systems clean and disinfect water used in your shower or bath to reuse in your washing machine, toilets and irrigation system for a reduction in water consumption of up to 45 percent.

Published with permission from RISMedia.

So you’re looking for a home loan? Before you find yourself up to your knees in brand new terminology, brush up on these common phrases:

FICO score
These are the credit scores that the majority of lenders use to determine your credit risk, and the number makes a very big difference in terms of what interest rates you are offered on a mortgage. This score boils your credit history down to a three-digit number that tells a lender whether you’re creditworthy. What is the FICO score based on? The biggest players are past payment history and outstanding debt. The average FICO score falls between 600 and 800, the median being 723.

Full documented loan
A full documented loan means that both income and assets are disclosed and verified. Income is used in determining the applicant’s ability to repay the mortgage and formal verification requires the borrower’s employer to verify employment.

APR
This stands for Annual Percentage Rate. It’s a calculation that measures the net effective cost of borrowing. It takes into account some costs of getting the loan (including any applicable points), most loan fees and mortgage insurance. The APR is the most consistent means of determining price disparities between lenders.

Good Faith Estimate
This is a list of settlement charges that will occur with your new loan. Within three business days of receiving the loan application, the lender is obliged to provide the good faith estimate to the borrower. The good faith estimate gives the borrower the opportunity to review associated costs on the loan before proceeding.

Published with permission from RISMedia.

Published with permission from RISMedia.