6 Affordable Champagne Features for Your Beer Budget Home

Modest. Affordable. Starter. There is no shortage of words we use to describe a home that cost less than the average in an area. But no matter how “low-priced” your home is or was compared with others’, chances are good that you are spending a good chunk of your hard-earned dollars on it. Think about it: almost no one looks at their monthly mortgage statement and says “Wow – it’s just so cheap!!”

Every owner deserves to come home to a place that is beautiful, comfortable and suitable for the activities that are a part of their life – without going into debt to do it. And even if you haven’t yet become a dyed-in-the-wool homeowner, understanding the champagne-style creature comforts that can be inexpensively added onto a home after closing can provide powerful inspiration for sticking to your beer budget.

Here are a few of those little, affordable luxuries (with links to pics and inspiration throughout!):

 

1.  Automation.  For your home to automatically anticipate your preferences and living habits, and conduct itself accordingly, is a serious luxury that no longer requires a serious investment. Easily programmable thermostats and smart home systems are now available at very low prices. Check out the Nest  “Learning” Thermostat for one of the most simple-to-use, inexpensive alternatives around. Created by the man who designed the iPod, it “learns” the temperatures you prefer without any complicated programming process, it can detect when no ones home and change the temperature accordingly and it is even remote controllable via wi-fi and mobile app.

 

In some areas, home cable companies are now bundling temperature automation and smart home features like remote-controlled lighting, temperatures and security systems and even smoke and carbon monoxide monitors right into the same online dashboard you use to pay your bill or order a movie on-demand.  Word of mouth raves from users of these sorts of systems often include delight at money saved on overall more efficient use of electricity, time saved coming home to check that doors are locked and other little daily assists beyond the expected convenience.

These next-gen automations are able to be had in the $200 or less range, up front, though the size of your home and number of devices you require can send costs upward. Look for whether your automation system has a mobile app that allows you to control your home from your smartphone – many do, and it’s a major plus. Shop around, read reviews and make sure you understand any monthly subscription fees, before you buy.

2.  Nature’s Niceties.  Visiting my grandmother recently, I was reminded that there is nothing quite so luxurious as craving a piece of fruit or a particular meal and being able to walk right into your backyard and grab the fixings for it – cost-free, and chemical free. This doesn’t even factor in the beauty of a kitchen garden right outside your window, or the healthfulness of gardening as a habit.

The range of cost for landscaping and creating what many now call outdoor rooms is vast. But there are also dozens of inexpensive projects that can level-up your own home’s nature factor:

• installing raised vegetable beds in your backyard
• hanging a vertical garden on your kitchen wall
• putting in window boxes or outdoor seating
• installing a bird bath or planting a new tree.

Lush, green anything is a luxury that can cost very little to enjoy for years on end.

3.  Delicious Details.  Customizing, sprucing and even adding little details to your home can make a tract home feel custom, a condo feel personalized and can even take a home with character and imbue it with your character.  These little projects can also be bizarrely high in the aesthetic impact and feeling of polish they add to a home vis-a-vis the relatively low investment of time and money they require.

Walk through your place and see where you can add, improve or tweak the details – consider projects like:

• Adding crown moldings or baseboards
• Adding interior or exterior shutters
• Painting moldings, baseboards, mantles and door trims a contrasting color to the surrounding areas
• Replacing doors and lighting fixtures (I just replaced the pendant lighting fixture over my own kitchen table and have to say, it looks like a new room!)
• Replacing dated faucets, sinks, toilets and hardware – even recessed lighting soffits and door handles
• Painting exterior eaves, doors, trims and fences.

4.  Solar.  A recent survey by Sunrun revealed that over 40% of Americans believe a solar system cost more than $20,000.  And get this: eight out of 10 homeowners said they would install a solar system at home if cost wasn’t a factor.  Solar is not for everyone, and not even for every home, but in states with sunny, hot summers and energy bills to boot, installing a solar system can create the double luxury of allowing you to run your home on renewable energy and reduce your energy costs in one fell swoop.

Truth is, in some states, cost isn’t a factor. There’s a new generation of companies – solar power service providers – who will pay for a solar system, install it on your home for little or nothing, and pay for its maintenance. In turn, you pay them for the power you use, at a rate that is generally lower than what you were paying the utility.

These arrangements are not available everywhere, but if you’ve always thought you’d go solar if you could afford it, it’s certainly worth investigating whether you can find a solar service provider in your neck of the woods.

5.  Built-ins (or faux ones).  Built-ins like desks, book shelves, closet systems and even kitchen recycling centers feel particularly luxurious because they offer a polished approach to efficient use of the space you have, and often eliminate the need for bulky pieces of furniture.  When you initiate the installation of built-ins, though, they have the added luxury of being customized to the way you want to use your home, the activities you prefer to do in a given room and even the gear you have to use to do it!

If you’re handy, DIY-interested or even have a good local handyperson or carpenter contact, you might be surprised to realize how affordable it can be to build a desk or closet organizer into your existing space.

If you haven’t a handy bone in your body, or you’d prefer to keep the space flexible, you should get up to speed on all the off-the-shelf built-in alternatives that are on the market, like a kitchen nook dining set in lieu of a built-in banquette. Think creatively: placing a day bed under a window with a bookcase on each end is a fantastic alternative to building a window seat between built-in shelves. You might even be able to score the built-in alternatives on Craigslist or Freecycle, then have it painted or reupholstered, to get a luxe, custom look at a very low price.

6.  Dedicated spaces.  Like custom built-ins, dedicating a space to a particular favorite activity is a special luxury, even if your home is not otherwise especially luxurious. Why not let every member of the family custom-tailor a corner of your home to whatever they love to do, or spend a lot of time doing?  The idea here is to simply dedicate a space to an activity, painting it, installing the appropriate furniture and carving out a place for all the supplies that are involved in that activity.  At my house, I just painted the office in bright colors that researchers have found to boost creativity, installing new project tables and bookshelves to facilitate the organization and stand-up work style I prefer. My friend AG has turned one bedroom into a room for her menagerie of pets – dogs and birds alike!

Article Reference:

http://www.trulia.com/blog/taranelson/2013/05/6_affordable_champagne_features_for_your_beer_budget_home?ecampaign

Fix This, Not that: 6 Tasks to Do, or Not to Do, Before you Sell

 

Online, you can find dozens and dozens of return-on-investment (ROI) calculators which aim to do the math on whether a given home improvement project is worth the money (or not). They tend to focus on how much of the remodeling spend will come back to you in the form of added value when the home is sold.  I submit that this is only one part of the equation, as the primary measurement for many home improvement projects should be tallied up in terms of lifestyle improvement over the years you plan to benefit from the increased comfort, joy or efficiency of your newly-improved home.

Surprisingly, this calculus of what home upgrades are (and aren’t) worth doing gets slightly more complicated in the context of preparing a home for sale.  It seems like it should be even more simple – dollars in vs. dollars out.  But most agents or stagers will tell you that preparing a property for listing is more art than science, in that there are many human factors that must be weighed and balanced against the costs involved. 

For instance, whether a given project is worth doing sometimes depends on the current state of the property vis-a-vis local buyers’ expectations at that price range.  It can also depend on the relative aesthetic and perceptual boost that a particular project promises, and on any negatives that the property needs to compensate for.  The seller’s budget and even local municipal codes all must be factored in.

Accordingly, there’s no single set of black-and-white rules that apply to every property and every seller.  But here are some rules of thumb and food for thought that you should walk through with your agent or stager if you’re in the process of trying to figure out which tasks to do – and which to leave for your home’s next owner – before you put your place on the market.

FIX:  Paint. There is simply no accounting for the massive upgrade a fresh coat of paint can bring to the look and feel of your home, inside and out – especially given the relatively low cost and high do-it-yourself-ability of painting.  A home that is freshly painted inside and out reads as fresh, clean and ready for new life, from a buyer’s perspective.  A taupe wall with white trims and moldings has essentially become the new white wall of this generation – the aim is to go neutral, not boring.

If you can’t afford the time or cost to paint everything, take a hard look at your walls and rooms and see which hallway or room(s) need it the most.  Also, painting your trims, doors and moldings can go a long way toward de-shabbifying a place.  Similarly, on the exterior of your home, I cannot overstate the polish potential of painting the trims a bright or deep, color. Changing the color and refreshing the paint on your exterior shutters, doors and eaves gives a powerful update and burst of color to the place. 

Check in with your stager and agent about your color palette for any pre-listing paint projects before you have the hardware folks mix up a vat of chartreuse semi-gloss for the kitchen walls.

DON’T FIX:  That uber-luxe kitchen remodel you always wanted. Do gorgeous kitchens sell homes? Yes. But they also easily run into the tens of thousands of dollars. Unless your home’s existing kitchen is truly cringe-worthy, a high-end overhaul just before listing is not likely to even recoup what you spend on it. I advise sellers who are hemming and hawing about a kitchen remodel to do it while they and their families can still enjoy it.  If you’ve already decided to move on from the home and the kitchen is so bad as to render the place un-sellable, your agent and stager can help you come up with a moderate plan for whipping it into shape without breaking the bank.  Repainting or refacing cabinets (instead of replacing them), installing butcher block counters (vs. marble or stone) and replacing your avocado green appliances with nice GE or Kenmore versions (vs. Wolf and Miele) might be the route to go. 

Caveat: if your home is competing with luxury properties and you insist on listing it at top dollar, you might actually have to go with a higher-end kitchen upgrade plan before you list it. Think long and hard about whether this make more sense than simply discounting the property or offering a kitchen upgrade credit to the buyer.

FIX:   Plumbing problems.  Plumbing leaks make noise, cause damage to the wood structure and areas around them and are often believed by buyers to cost more to fix than they actually do. In some parts of the home, plumbing leaks are prone to being called out as conditions conducive to long-term structural problems by pest and structural inspectors. If you can have a handyman or plumber come in and eliminate drips and leaks, you will simultaneously eliminate some buyers’ objections or concerns about your home. 

And this goes for sewer line issues, too.  An increasing number of areas are now requiring that the sewer line from home to the sewer main in the street be inspected before or during a home’s sale – and be repaired or replaced if it is cracked or broken.  If you’ve had chronic backups or your home’s sewer line is simply due for an inspection, work with your agent to get the appropriate inspector out there now to get an understanding of what sewer line work will need to be done to comply with any local point-of-sale ordinances.

A new sewer line is a great draw for a buyer, as is one with a clean bill of health. If your line does need work, you and your agent might decide not to repair or replace it, based on your budget, how much of a seller’s market your area is currently experiencing, legal requirements and standard practices in your area. But you should have the state of the sewer line in mind, for better or for worse, before you set the list price for your home and begin preparing your disclosures for prospective buyers.

DON’T FIX:  Malfunctioning, costly appliances.  Consider offering a credit for the buyer to use to replace appliances that don’t work – or don’t work well. Buyers appreciate the ability to select their own new appliances on your dime. That said, it can be difficult for some buyers to get past the collective aura of bad repair that arises when a home has a whole host of really old or beat up appliances.  In some cases, it might even make sense to simply remove an appliance entirely, without replacing it at all.  In others, a replacement or a credit might make more sense – this is a topic for discussion with your listing agent, who should have a good understanding of what’s normal in your area and important to local buyers.

If you do decide to replace an appliance, consider resources like Craigslist, where you might be able to find used items in good repair at a fraction of the new cost.

Caveat: if you are in a price point or area where the average buyer uses an FHA loan to finance their home, there are certain appliances which must be in the home at closing, like a functional stove.  Discuss with your agent before you start ditching the old appliances.

FIX:  Old and outdated hardware, fixtures and finishes.  Hardware can refer to the little metalworks that make things work (or not) throughout your home, like hinges that make a door hard to close, cabinet and drawer handles and pulls or your closet door and drawer slides.  These are all the sorts of things buyers test out while they’re viewing a home. However, it also includes things that might work fine, but look outdated, like light switches, door knockers and kick plates.  Hardware, as a general rule, is inexpensive as home fixes go – if it will make your home function more smoothly and look like it’s been well cared-for, the low investment is well worth an upgrade.

Scuffed and scratched wood floors; 80’s era carpet, gold-plate lighting and faucet fixtures and even more recent upgrades that have seen better days (e.g. bowing and warped laminate floor sections) should all go on the list of finishes and fixtures to fix or replace before you list.  All cracks, chips, scuffs and nicks should go on the list, for that matter.

The rationale is the same: they are a highly cost-efficient fix vis-a-vis the big bang they make on your home’s appearance to buyers.

DON’T FIX:  Replacing old windows.  This is a project that many crave to do, especially if the windows are single-pane, aluminum framed, or involve rotten wood casings.  But it’s also a project that can easily become extremely expensive, and one that often snowballs into costly, time-consuming framing repairs.  Aluminum frames around windows can sometimes be spruced or painted to make them look at bit better, if absolutely necessary. And even old wood windows that have issues often create a generally charming feeling that helps a buyer see the home’s potential they can restore, better than if you replace it with inexpensive fiberglass windows before listing the place for sale. 

This advice is primarily for those tempted to replace a whole house worth of windows – if you have one window that is particularly offensive or allows water in, or even have multiple window panes that are cracked or broken, these are things you might want to repair or replace.  Your agent can help you make a suitable action plan on this score.

By contrast, if you have old, dinged, ugly or broken doors, toilets and sinks anywhere in your house, these are things you may want to rip out and replace before listing your home.  You might be amazed at how fast and inexpensively these fixes can be done, and how much of a stylistic upgrade and update you can get out of them. 

 

article link:

 

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4 Reasons Your Home Isn’t Selling

 

There are exceptions to every rule under the sun.  So, even though the current market climate is hot in most places, every neighborhood, town and county has those homes that simply sit on the market for days, weeks, even months longer than average.

These are the outliers.  And being the outlier, in this particular context, is not a fun place to be. When all the other listings seem to be flying off the market and yours seems to be stuck, it’s easy to delve into fear, panic and even depression.  

Here’s a glimmer of hope:  there is a pretty short list of reasons that most slow-to-sell homes lag on the market. You’ve probably heard at least a couple of them before, maybe even from your real estate agent. But sometimes hearing things a few times, from different people and at the right moment in time can cause the shift in position that will power a shift in the situations that are keeping your home sale stuck – and your life plans stuck with it.

1.  You’re stuck on a too-high price. If your home has been sitting on the market for significantly longer than average, the market has spoken. And it’s saying: the price is too high vis-a-vis the current condition of the market and the property.  Period.

There are only three variables in this equation – which is helpful, because it means there are really only three ways to fix this situation:

• change the condition of your property
• wait until your market conditions change to support a higher price
• change the list price.

That’s it. That’s all there really is. For most sellers the simplest, most sensible of these three variables is to modify is the list price. This is especially so in cases where the home is in good basic condition, is well-staged, and other homes nearby are flying off the market.  The fact that you don’t want to hear that your home is overpriced doesn’t mean it’s not the truth.

Today’s market is ascending in most areas, which simply means that prices are on the rise. Some sellers are waiting to list their homes, hoping that prices will be higher in the years to come. But if you want and need to sell your home sooner than later or you are hoping to sell in time to buy your next home before prices rise much higher, holding out for a higher price probably doesn’t make sense.

In fact, your resistance to making a necessary price cut could backfire. Buyers often keep their eye on overpriced but otherwise nice homes, waiting until they suspect the seller’s desperation will make them more receptive to a lowball offer.

2.  Your home is not be fully exposed to the market.  So the truth that the market has spoken on the matter of overpricing does have one caveat: it assumes the market has actually been exposed to your home.  If your home’s marketing plan has been limited to that red-and-black For Sale sign you got at the hardware store and stuck in the lawn, chances are good that your home is lagging because your area’s community of buyers and brokers have no idea it is on the market!  

Other common conditions of home sale-preventing underexposure include:

• Homes that are not listed on the area’s Multiple Listing Service or MLS
• Homes that are not listed on major real estate search engines, like Trulia
• Homes that are very difficult to show or are rarely made available for viewing
• Homes that are listed online with no, few or poor quality property photos.

If your home is lagging on the market and any of the above apply to your listing, they could be the culprit. If you chose a listing agent who has a strong track record of success selling homes, these sorts of listing issues can sometimes reflect a glitch in the system.  So, do a double check – Google your address and see how your home is represented online. If you find any of these issues, work with your agent to get them fixed.  

If you didn’t engage a listing agent at all and your home is simply not moving, it might be time to reconsider and course-correct your home-selling plan.

3.  Your home has a glaring issue that needs resolving.  Many times, a big condition issue can cause a home to sit on the market unless and until the seller either (a) fixes the issue, (b) offers a credit or incentive to offset the issue or (c ) reduces the price so low that a buyer thinks the bargain is worth the hassle.  Some situations are too costly for a seller to fix (e.g., foundation needs replacing), and others are not fix-able (nuclear power plant next door).  In these situations, reducing the price might be the only resolution.

But other listings are sabotaged by highly fixable issues the seller simply might not be willing to admit are at the root of the problem.  You might love the highlighter yellow you chose to paint all of your home’s interior walls, the wall-to-wall powder blue sculpted carpet or the “rustic” look of the weathered paint, fences and trims on the exterior.  Or maybe you don’t love them, but you think buyers should just look past these issues.  

Your home’s slowness to move is a wake-call.  The average buyers’ tastes might simply differ from yours. Or maybe in your area and price range, buyers don’t have to look past issues to find a home that is move-in ready.  To concern yourself about what buyers “should” be willing to do is to live in a fantasy world – and as long as you’re there, your home won’t move in real life.

4.  You’re not really ready to move on.  If none of your agent’s advice about how to shift your home’s fate makes sense, if everything on this list strikes you as outrageous, if even your friends’ and family members’ urgings to cut the list price makes you think the whole world must be crazy, ask yourself this question:  are you really, truly ready to move on?  

It’s not at all bizarre for home sellers who are deeply attached to a longtime family home, or somewhat fearful about the next phase of their lives to make decisions around their home’s listing that keep it from selling.  I once showed a house where there were people still sleeping, in beds that were – bizarrely – in the living room, while the listing agent walked my buyer and I through the place.  If you find yourself in a situation where your head is telling you that cutting the price is the right thing to do, but  your heart makes you do everything possible to keep the home from being shown, consider whether you are truly ready to move on.

If you ultimately decide that you do want or need to sell the home and move on, but are anxious or fearful for whatever reason, don’t take your fear out on your listing.  Notice where your decisions and behavior might be sabotaging the higher purpose of getting your home sold and manage your own mindset so you can get out of the way of your own progress.  

Four Tips For Making Smart Real Estate Moves In 2013

Everywhere you turn the market is predicted to be better than ever. Local news websites across the country are full of news about rising prices and increased sales. While sellers remain a bit cautious to list, there’s no doubt buyers are out in force. New home construction is also a major factor as building starts and the amount of building applications are on the rise in many areas of the country. The market is shifting once again which is why it’s more important than ever to be ready to make smart moves if you see the home of your dreams. If you need a refresher course in how to prepare for home ownership visit our post on resolutions to get you into a new home for the new year. Even if you are financially prepared there are still a few more things to look out for. Some of the Realtors who answer questions for the Realtor.com Q&A platform have some advice on how to negotiate the choppy waters and wind up with a home you will love.

Working With A Buyer’s Agent Can Help You Find A Home In A Low Inventory Market.

One of the biggest issues in the real estate market across the country is that houses are being snapped up before interested buyers have a chance to act. What should you do when the home you have fallen in love with is listed as contingent or pending? Should you take a chance? There’s no hard and fast rule because every home sale is different and every agent is different. Depending on the home and the offer, a backup offer may be welcomed or ignored.

“Many sellers and their agents welcome back-up offers; some do not. Ask the seller’s agent if they are willing to take your offer and go from there,” advises Realtor® Lee Dworshak of Keller Williams LA Harbor Realty. One of the reasons it can be smart to work with a buyer’s agent in a market with low inventory is that you can learn about houses as soon as they hit the market. If your agent knows that neighborhood you are interested in, they can be the ear to the ground and get you into the house early in the process.

If you see a house you love but it’s out of your price range, add it to your saved searches on Realtor.com anyway. That way you will know if the price drops and the home that was once only a dream could become a reality.

Doing The Two House Juggle Is Tougher Than Ever.

If you have to sell your house before buying a new one, you may be at a disadvantage. “In a hot market it’s often a deal killer to include in your offer to buy a new home, a contingency to sell your existing home. Sellers will simply take their pick of offers not burdened by such a contingency,” says Lee Dworshak. Depending on your local market it may make sense to put your existing house on the market before you begin the hunt for a new home. An agent can advise you on whether or not this makes sense for you based on the average time on market for homes in your area. If your financial situation allows it, you could also rent your current house out if it doesn’t make sense to sell currently.

Haggle With Care.

Knowing what to offer can often be a delicate dance. Too low and may ruin the deal forever and not seem like a serious potential buyer. Too high and you may miss out on a chance to save some money. Sometimes even if a house seems overpriced, you may have to walk away.“In the end there are only a couple of things that matter to a seller. First and foremost is what they are putting in their pocket. I knew one seller that waited five years until the market finally caught up to his price. I never even talked to the guy about listing, because he wanted so much. About six or seven other agents had his home listed over that time period, but only the last one sold the home. I just suggest making your best offer, and move on. Oh, the second thing sellers like is an easy closing, so make the offer as-is and get your inspections and financing tied up as quickly as possible, “ advises David Welch, a Realtor® with Re/Max 200 Realty.

Bear in mind also that there may be other factors influencing the price that the sellers have put on the home . There is a reason that agents often put the words “motivated seller” in a listing description. The truth is that not all sellers are desperate to sell immediately. “If the sellers do not have to move, they will not be incented to take less than they want. If the sellers have that much “into” the home, they will not want to take less. Comps are what buyers use, but sellers always have a reason why their house is better than the comps. One technique I find helpful is to present a very reasonable offer with a cover letter (or in person if possible) extolling the virtues of the home and saying how wonderful it is but expressing concern that the appraisal process might hamper the realization of the price. I then provide comps, excellent evidence of financial strength, and end by saying: “We realize we may not be the right buyer for your lovely home, but we would certainly love to be the new owner.” That last point makes the sellers think twice about who WOULD be the right buyer,” says Linda Walters, a Realtor® with Sage Realty.

Timing Your Life Is As Important As Timing The Market.
It’s easy to drive yourself mad trying to predict the market. Should I buy now, should I sell now? Is there a right time of the year to buy or sell? The only truth is that when it is right for you, it is right for you. Make your decisions based on your financial and personal situation not on what you think may or may not happen. “It is very difficult to time exactly when it is best to sell… so I always recommend to clients and friends to sell when you know you want to sell. Traditionally, springtime is a very popular time of year to sell one’s home, as the weather enables potential buyers to travel and view listings on weekends with their families. The price of the property is based on income, location, and condition,” states Arlene Gonnella, a Realtor® in Short Hills New Jersey.

Finding the home you will love for years is one of the greatest investments and commitments of your life and also one of the most exciting—best of luck to you in your search, whether you are looking to move now or just checking out the market. If you are looking to move in to a new home this year or recently bought, please share your success story with our Realtor.com community in the comments below.

Article Reference:

http://www.realtor.com/blogs/2013/01/10/four-tips-for-making-smart-moves-in-2013/

10 neighborhood homebuyer magnets

John Donne wrote that “No man is an island.” If he had been a real-estate broker, rather than a 17th-century English poet, he might have added that no house is, either. Context is everything, and neighborhoods matter.

According to a National Association of Realtors survey released in November, homebuyers say that the quality of a neighborhood (cited by 67% of respondents) was the biggest factor in determining where in a given area they would buy. The next top responses were affordability (45%) and convenience to family and friends (39%).

If you’re a home seller, you should know that certain neighborhood features are like magnets for some homebuyers, generating interest in your house even if it’s the ugliest one on the block.

Here are 10 factors to keep in mind and emphasize in your home listing.

http://realestate.msn.com/neighborhood-homebuyer-magnets?from=msnrealestate_home#1