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If you have lived in the house for a number of years, chances are you postponed a few needed repairs and upgrades. Homeowners who plan on remaining in their homes indefinitely can develop a tendency to overlook the little things that go wrong – leaky faucets, stained carpets, aging appliances that somehow keep working but lose energy efficiency with every passing day. You think, “I’ll fix that next weekend”, but you go out fishing or watch your favorite sports event instead, and eventually cover the carpet stain with an attractive new throw rug.
But once it’s time to sell your home, those “little problems” can suddenly add up to a long list of deferred maintenance items. When someone puts a serious offer on your property, the potential buyer’s home inspector will go over your house with a discriminating eye trained to notice features that either add to or detract from the value of your investment. A prospective purchaser who notices the carpet stain will immediately be on the lookout for other blemishes. As a seller, you will either need to take care of these issues as a condition of the sale or reduce the selling price to compensate the buyer for making the needed repairs later on.
There are two effective ways to increase the resale value of your home while you live in it. The first is to handle repairs as they come up. Replace the worn kitchen faucet now and you will conserve water and eliminate an irritating drip that you won’t have to listen to. Each time you fix something, you improve the quality of your home life while reducing the list of problems the home inspector will find.
The second way to protect the resale value of your home is to enhance your house with new features and facilities that make it a more comfortable place to live. Start by deciding which rooms or systems could benefit from upgrading, and then ask your real estate agent to recommend a local contractor who specializes in remodeling.
Renovations that add value to a property include additional bedrooms, central air conditioning, improved kitchens and upgraded bathrooms. Renovations could include a three-car garage, a media room with built-in viewing screens, or a master suite with breakfast sunroom, walk-in closets and a luxury bathroom. Popular amenities that attract the attention of buyers include high-speed Internet wiring, home security systems and kitchen features such as an oversized sub-zero stainless steel refrigerator, a double convection oven and a built-in wine storage area.
Protect the resale value of your property with a winning blend of timely home maintenance and well-chosen home improvements, and you will never regret your diligence. We are11 days into the New Year and I trust that readers of Lets Talk Real Estate are sticking to your New Years Real Estate Resolution. If you have any real eatate questions or comments. send us an e-mail at james@sarlesrealty.com Until Next week.
