What is on your real estate wish list for 2014? Do you even have a wish list? Maybe you’re planning on selling a house or purchasing your dream home in the New Year. Just as you might write down your New Year’s resolutions at the beginning of each year, write a real estate wish list for 2014. You might be surprised how fast your wishes can materialize!
Here are some suggestions…
Sold to the Highest Bidder…
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If you plan on selling your home this year, but perhaps your house isn’t appraising as high as you would like right now, a wish list might include minor renovations in 2014.
1. The Best in Design…
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Granite countertops and updated appliances in the kitchen and/or pedestal tubs and sinks in the bathrooms, can add value to any home. A recent article in CNBC titled Eight Ways You Can Improve Your Home Appraisal, states:
If you're going to do minor renovations, start with your kitchen and bathrooms, says G. Stacy Sirmans, a professor of real estate at Florida State University. He reviewed 150 variables that affect home values for a study sponsored by the National Association of Realtors. Wood floors, landscaping and an enclosed garage can also drive up appraisals.
2. The Outside Reflects the Inside…
Make sure to clean your yard. Add a swing or a garden patch. Appraisers pay attention to the outside as well as the interior. If your yard is unkempt or unappealing---as the appraisal process is not a perfect science---a negative first impression could really affect your home value.
Buying a Dream Home in 2014…
If you know that this is the year you will finally purchase that home of your dreams, you need a plan. What might you include on the list? Well first, while it’s important to remain flexible once youstart touring prospective homes to buy--initially it’s perfectly fine to have a vision in your mind.
1. Your Dream Home: The Big Picture
Go through real estate magazines and clip out some pictures of homes that are in your price range that you might consider---at least upon seeing a picture---to be a version of your dream home.
Getting clear on what MUST be included on your wish list, can ultimately make the home buying process a fulfilling one.
2. Location, Location, Location
Location, location, location---Location is everything in real estate. You may want to include this on your list. If you are buying a home, research the school district, the safety rankings, the close proximity to thriving cities, the mountains or ocean. All of these things will not only enhance your community, but they also contribute to the value of a home if and when you choose to sell.
3. Must-Haves
Do you have deal breakers, must-haves, in other words are there features of a home that if not present, you absolutely will not buy? For example, do you know you must have two full bathrooms or you won’t buy it? Do you know that you won’t settle for a California ranch style house, you absolutely must have a split level? If any of this sounds familiar, put all these must haves on your wish list. RealtorMag posted an article, Your Property Wish List in which they included a must-have chart which would be really helpful for any 2014 realty wish list. Take a look at the items on the chart. If you find some are must-haves for you, circle them: Read more.