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Thinking of Selling your Home?

Step 1: Get a Value Wizard report for your property:

 Step 2: Home improvements to increase value
There are two reasons for pursuing home improvement projects:

1. Just Want To Do It:  You want some new features in a home to improve your family's quality of life, but you don't want to leave your current home.
   
2. Really Need To Do It:  You want to make your home more marketable to maximize return (or minimize loss) and speed up the sale process.

In the right market conditions, a project might fit into both categories. Other times, though, the two approaches will conflict:

Just Want To Do It:  In situation A, the project is perceived as a necessary or worthwhile improvement to your family's lifestyle. Say you have two or three teenagers in the family and the morning bathroom situation is completely out of control. It doesn't matter if an additional bath generates a 150 percent return on investment or actually decreases the value of the home (unlikely, unless you're a completely incompetent do-it-yourself with a bizarre design sense). The economic impact just doesn't matter. If you have the money for a new bath and you don't want to move, you add the bath. It's that simple.

Or say you're a barbecue fiend and the only feature missing from the dream home you've just purchased is a sprawling backyard patio with a natural-gas grill custom-built with flagstone and river rock. Again, return on investment just isn't going to be a critical question. The improvement becomes more comparable to purchasing a depreciating asset that you feel is a necessity for your lifestyle, such as an automobile. When the barbecue aficionado adds a deluxe patio to a home that's already the most expensive property in the neighborhood, perhaps destroying the entire backyard in the process, there's a good chance that very little of the cost will be recouped in a subsequent sale.

An even better example might be a pool. If you're a person who simply has to have one, fine. Put in a pool. But it's probably worth checking with a real estate professional first, just to make sure you fully understand that adding the pool might actually lessen the property's value and make it more difficult to sell should you later decide to move. That's the reality in many markets. That doesn't necessarily mean you shouldn't do it, especially if you're planning to live in the home for the rest of your life. It just means it's worth knowing the cost and saleability's impacts at the front end, even if they're not going to deter you from pursuing the project.

Really Need To Do It:  The "type-B" home improvement project is pursued primarily to increase the property's saleability. In turn, this often increases your return on investment. A good real estate agent can advise you of possible improvements that will attract more potential buyers and also pay for themselves either through increasing the home's value or through shortening the time it takes to sell the home.

 Here we're typically talking about projects such as: painting (either because the existing paint is in bad shape or is an unusual color); replacing carpets (again because of age, color or style); repairing or resurfacing a cracked driveway or sidewalk; refacing kitchen cabinets; and trimming or removing overgrown or unattractive landscaping.

 While spending several thousand dollars on your home right before you sell it might not sound very appealing, it's not uncommon for the right work to more than pay for itself in a higher selling price and shorter marketing time.

Consult with an experienced real estate agent to learn what improvements will make your home more marketable in comparison to similar properties that are now, or recently have been, on the market in Richmond Virginia - Glen Allen, Midlothian, Manakin-Sabot, Mechanicsville, Henrico, Chesterfield, Goochland, Hanover, Powhatan, Louisa, Amelia, Cumberland, Prince George, Fort Lee, Dinwiddie, The Entire Richmond VA Metro Area.

 
Welcome to www.BudFirstRE.com
The Richmond Real Estate, Mortgage, Financing, Title and Real Estate closing services Portal in Richmond, Virginia. We are honored to serve all your real estate, home appraisal, home inspection, home loan, home refinance and mortgage financing needs. We are a one stop real estate portal for all your real estate needs. Designed for luxury home buyers or home sellers, or a first time buyer. We make the whole real estate buying and selling process, fun, simple, and easy, even if you are a seasoned real estate investor, buyer or seller.

 

The Power of Attitude

Bud First CRS, GRI, ABR
804-749-4854 or 800-781-2020
Bud@BudFirst.com
Re/Max Hall of Fame, Re/Max Platinum Club, Re/Max  100% Club

ReMax Allegiance
13204 Hull Street Rd, Midlothian, Virginia 23112
CRS, Certified Residential Specialist
ABR, Accredited Buyers Representative
GRI, Graduate of the REALTORS® Institute
Member National Association of REALTORS®
Member of Virginia Association of REALTORS®
Member of Richmond Association of REALTORS®
ReMax PLATINUM CLUB
ReMax 100% CLUB

 

We're not just ReMax, We're  ReMax Allegiance!  The World's #1 Selling  ReMax  Company!
Are you looking for MLS real estate listings or MLS homes for sale in Richmond, Virginia? View all new listed MLS real estate properties throughout the CVR MLS Richmond, Virginia area on www.BudFirst.com. We have 12,000 MLS listings including condos, town homes, foreclosures, new homes and new MLS luxury real estate listings and homes for sale. View an MLS listing of interest, complete the information request or register to have complete access to all the free real estate reports and information to help you be informed to make the home buying, selling or investing process easy. Save a search for automated email updates of MLS listings that fit your specific criteria or call your Richmond, VA area ReMax Real Estate Team and have one of our Richmond Real Estate Agents help you find or purchase your new Richmond home. We receive new listings everyday from all local agents, Richmond brokers and the MLS!

My name is Bud First with ReMax Allegiance. I am a ReMax platinum club member, a ReMax 100 %, Club Member and a ReMax Hall of Fame Member; Our Real Estate Team consists of Service Oriented REALTORS and serves Richmond Virginia MLS

 

Richmond, Midlothian, Chesterfield, Glen Allen, Henrico Manakin-Sabot, Goochland,

Mechanicsville, Powhatan, Hanover, Louisa, Amelia, Cumberland, Charles City, Dinwiddie, Fort Lee and Petersburg - The entire CVR MLS Richmond VA Metro Area CVRMLS Central Virginia Regional Multiple Listing Service