According to the National Association of Realtors, the kitchen is the single most important room for most prospective home buyers. If you don’t have the funds to do a complete kitchen overhaul, don’t despair. For just $1,000 you can make some significant changes that will have home buyers doing a double-take, such as:
- Re-facing or refinishing your cabinets. Re-facing involves replacing your cabinet doors but leaving the actual cabinets (boxes) intact. Depending on the size of your kitchen you can get it done for about $1,000 professionally or if you’re willing to undertake a little work you can do it for less. It’s a quick and much less expensive way of getting “new” cabinets without the big demolition work (and big price tag) of brand new cabinets.
If you have wood cabinets you could refinish them instead by simply stripping the old paint or varnish and applying new. For just a couple hundred dollars (plus some elbow grease to sand and paint or stain) you’ll get a whole new look.
- Changing out the countertops. Depending on the size of your kitchen, you may be able to swing new granite countertops with a $1,000 budget (you can find them as low as $40 per square foot on sale or at an outlet). For larger kitchens consider other, less costly options like stainless steel or solid surfacing products like Corian®. Use Dupont’s online Corian Kitchen Countertop Installed Price Estimator to get an idea of how much it would cost you to have the product professionally installed.
- Painting the room. With a gallon of paint covering approximately 350 square feet and running an average of $25, if you throw in the cost of brushes, tape, primer, etc. it could cost you as little as $75 to repaint a kitchen with 700 square feet of wall space.
- Upgrading appliances. Switching to energy-efficient Energy Star appliances will not only improve your kitchen’s appearance, it will also save you (and future owners) money on your monthly utility bills.
- Updating accessories. Small changes like replacing outlet covers, cabinet knobs and drawer pulls can give your kitchen an entirely different look and feel. When you consider that the average kitchen can be upgraded with new accessories for as little as $150., it’s a no-brainer for your small remodeling budget.
- Tiling the floor. If you have a small or moderate sized bathroom you may be able to find discounted tiles that you can install yourself (many tiling stores and home improvement centers offer free weeknight or weekend courses) for as little as $1 -$2 per square foot.
Brian Ripp, CRS, GRI, Broker – your Bay Area Realtor
www.BrianRipp.com serving Fremont, Newark, Union City & surrounding communities. Real Estate & Property Management.
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
Choosing the right lighting fixtures can enhance the beauty of your home, but there are other ways to brighten rooms and make the most of interior light. For example:
- Glossy surfaces tend to reflect light, while matte surfaces absorb light. Replace dark furniture and carpeting with lighter versions that will reflect more light. For a less expensive solution, opt for pale slipcovers and area rugs. Selecting white or neutral shades of paint in a glossy finish for your walls and ceilings will also make your rooms brighter
- Adding mirrors to your home décor also adds light, especially if you hang them directly across from windows.
- Keeping your windows sparkling clean will allow more sunlight into your home and help to open a dark room. You should also remove from windowsills any knickknacks that block your view and replace heavy draperies with sheers to take advantage of natural light.
- If your home still seems dark, you may want to consider adding more windows or installing a skylight.
Brian Ripp, CRS, GRI, Broker – your Bay Area Realtor
www.BrianRipp.com serving Fremont, Newark, Union City & surrounding communities. Real Estate & Property Management.
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
If you’re planning to put your home on the market in time for spring, now’s the time to get it ready to show.
But wait, it’s still a buyer’s market. What can you do to catch the buyer’s eye and get them to make an offer?
It’s going to take more than a fresh coat of paint and a new welcome mat. A buyer’s market raises the stakes, and you’ll find you need to do a lot more work on your home than you think, if you want to get the highest price possible.
You’ve heard that you should clean, paint and repair, but that may not be enough. If your home is cluttered and in disrepair, buyers won’t pay top dollar. Knowing how buyers reason should help you pick which updates are most likely to help you sell your home.
Let’s take the most basic selling suggestions and explore why these are such important mantras.
• Boost your curb appeal. A clean house with cosmetic upgrades like painting and planting flowers can help form a fantastic first impression of your home.
Why? Eighty-four percent of homebuyers use the Internet to search for homes. One-third of homebuyers use the Internet first, before any other source. That means that people are making decisions whether or not to even drive by your home based on how it looks in video, virtual tours and photographs.
• Make big fixes where you can. If your budget allows, invest in bigger improvements. Focus on “make or break” rooms like bathrooms and kitchens, because nothing says “uninviting” like an unattractive cooking space.
Why? The National Association of Realtors found in 2007 that a whopping 59 percent of homebuyers remodeled or made improvements to their homes within three months of purchase. Forty-seven percent made improvements to the kitchen, another 45 percent remodeled or improved a bathroom, and 43 percent remodeled a bedroom.
Keep in mind that the rate of new home building accelerated during the housing boom, and buyers are used to seeing as much as 25 percent of available inventory as new. That’s your competition, and the closer you can get the buyer to new, the likelier you are to sell your home.
• Be upfront with disclosures. Don’t wait for the buyer to get a home inspection, or the buyer could find a reason to wiggle out of the deal. Get a preliminary inspection yourself, so you can improve the condition of your home before a buyer sees it. Keep receipts of recent improvements and provide estimates on optional upgrades. These actions will reinforce your trustworthiness as a seller and help overcome objections from the buyer.
With new homes, buyers have some guarantees that systems will be fixed by the builder if they fail, but they have no such guaranteed with an existing home. Providing a home warranty will go a long way in assuring the buyer.
• Be realistic. Your price should be competitive with nearby comparable homes with similar features and approximate condition that have sold or are on the market within the last three months. You may find that homes are taking longer to sell and that buyers are more selective. Your buyer may be using the Internet to find home valuation sites, so search those sites yourself and be ready to defend your price with proper comparables from your Realtor.
Remember, your home is competing with new construction and with the buyer’s idea of what a home should look like. Over 33 percent of home buyers prefer a home less than 10 years old, yet the typical home purchased by all buyers was 12 years of age. That suggests that condition is very important. If you can ease your buyer’s fears about the condition of your home, you’re much more likely to strike a deal.
Brian Ripp, CRS, GRI, Broker - your Bay Area Realtor
www.BrianRipp.com serving Fremont, Newark, Union City & surrounding communities. Real Estate & Property Management.
