Home buyers look for some key things when they are shopping for a new property. How does the exterior of the house look on first impact? What is the condition of the kitchen? How much money needs to be invested in renovation?
What counts is the following, the more negatives that someone places in their mind about these questions, the less likely you are going to find a buyer that will pay full price or potentially 80% of the offer of the house unless there is a substantial shift in the market place.
That’s right, by having a house which lacks in buyer appeal you could lose up to 20% of your home value especially when it comes to perception of your home’s condition.
So, what are the ways around this and how can you start to see buyers giving you the value you really want for your property?
A good paint job
Well, the big question is, what are you going to get the most value from? The answer, a good paint job. Painting the interior of your home can be one of the best returns in terms of time and investment, but also, a big selling point for new buyers.
With an average spend of $1600 you could get back as much as 18% value on your property, not bad for a few days work and refreshing your living areas.
What are the best colours to paint your home?
There are a few choices you could go for here, but let’s try and keep this as accessible and “normal” as possible. By normal we mean, what would a buyer not be put off by. If you think pepto bismol pink is a shade for a living room, we want to avoid this kind of reasoning, and colour.
White is a standard great colour for those looking to do two things. The first, apply a quick coat, perhaps two and let the room and it’s features take over. It could be that you have bright coloured rugs, modern or deco lamps or interesting pictures that you want buyers to visualise in what could be their own new living environment. The second, and simply put, white makes rooms look bigger. Think of museums, galleries, toilets. White walls provide the illusion of grand spaces and blank canvases to work with.
We’ve spoken in the past about the colour grey and how it should be avoided, but this was for the dark grey category. Dark grey is not only a very personal choice, it can make the room feel drawn in. What you want to focus on is light grey’s, for reasons very similar to white with an added condition; light grey is not white. Light grey gives the room a little more of a feature feel and can feel warmer than a plain white shade.
Ah yellow. Yellow is a great colour, not only does it make buyers feel warm and welcome but it also triggers mental recalls of spring and summer months which are spent enjoying the sunshine, it elicits happiness more than any other colour in the spectrum. However, it must be noted, yellow can also put some people off. Try mixing and matching, lighter tones in the living room, study, brighter in the kitchen or bathroom.
If there is one room which new buyers or investors in your property look at more than any other it is the kitchen. It is the glory room when it comes to selling a home; a great looking kitchen can psychologically impact on the value that a home will have to a potential buyer, and a bad one, even more.
But should you spend a lot of money on remodelling the heart of the home just so you can sell it and what is the complete value that a new kitchen will have to a home sale? The figures may surprise you.
We conducted a study earlier this year which highlighted different rooms for prioritising for a house sale and the kitchen was third and not first like some can think. The highest cost for a kitchen remodel, as reported in the year, 2015 was $49,000 and the average came in at $20,474!
So do you need to spend that much or are there alternatives and if you were to spend your money, what should go for? Here is our quick guide to selling your house fast with a kitchen remodelling.
Choose the right colour
One of the things that gets most outdated in a kitchen is the colour scheme. Not only is it a case of being outdated, but the wear and tear of day to day life, cooking grease and oil, and other factors (possibly young children) can make the appearance look outdated.
So a quick, inexpensive way to smarten up your living space is a fresh coat of paint. But what colour you go for can also have a massive influence. Light yellow or even very light green can have a positive effect on your overall sale value, whilst dark grey’s or eggshell not only aren’t appealing but could have a negative influence on your home value.
Cost? Around $300 for paint, $90 for materials. 2 days average time.
Your countertops are one of the biggest cosmetic changes you can make to a kitchen, and one of the most cost effective solutions as well. And there are loads of materials that you can choose from, as well as colours, finishes and overall final look to your kitchen area.
If you have a white kitchen, you could go with dark tops, or wooden finishes. Laminate is a cost effective, highly visual material and fulfils everything you need for a kitchen remodel. Also, if you have measurements, you can get trade stores and merchants to do a lot of the cuts for you and all you need to do is just the installation.
Cost? Anywhere around $400 – $500 for material (laminate). Installation could be outsourced for $150 – $200.
If your kitchen has sustained the test of time, the cabinets are in good working order, then you have a cost effective solution to your kitchen remodelling; new doors. In Florida/America, it’s not common to see handleless doors, but across Europe they are more common and are sure to be set as a new design feature for 2017.
If however you went for a more traditional look, then you can’t go wrong with just a simple colour, white or dark grey (which is no longer a fad) and a set of new handles. You can really transform the look and feel of a kitchen with a small knob or a chunky handle.
Cost? Budget $20-$30 a door on average $500. Fitting, one day.
With these three changes, you can radically transform your living space area into a buyers paradise. Keep the costs low and have a budget to mind. You don’t need to overspend to give you the dream kitchen that someone may want to have.
What would be your tips for a kitchen remodel? We’d love to know.
With Thanksgiving just gone, and Christmas not too far away, the time to sit down, enjoy the festive break and spend time with loved ones will be on everyone’s mind. But there will come a time in the holiday season when you will want to sit down and just watch a good old family Christmas movie. Christmas movies have a few things in common. There is snow, there are arguments and there are beautifully decorated homes that we all wish we could own!
So, here are our, 5 Best Houses from Christmas Movies, enjoy!
1) The McAllister’s – Home Alone
They left their child whilst they went on holiday to Paris. The first question that springs to mind is, what did the dad for a living. (Apparently, he was a successful businessman) But this beautiful home, the exterior shots filmed in Chicago, is quite a delight. Floor plans on the internet point to it having, 3 floors, 4 bedrooms, 2 en-suites, 5 bathrooms, a spacious lounge and downstairs area and a basement.
2) Susan’s House – Miracle on 34th Street
The 1994 remake of Miracle on 34th Street introduced a new generation of children to the beautiful story of Father Christmas and hope; played by Sir Richard Attenborough this film is the spirit of Christmas in one showing. But what about the house that Susan gets at the end? Located in Lake Forest, Illinois, it has a beautiful mahogany study, gorgeous living and dining room, 6 or 7 bedrooms (we have no confirmation), a pool, a pool house with lodgings, and is surrounded by glorious countryside.
3) The Bailey’s – It’s a Wonderful Life
George and Mary Bailey are the All American couple trying to get through life, one room at a time! They had to put their honeymoon on hold, and they end up in this drafty old house which they then renovate for their future family. Aside from having to keep the evil business tycoon, Mr Potter away, George Bailey is trying to do the best he can, and on this house, George, we applaud you!
4) The Griswolds – National Lampoon’s Family Vacation
When it comes to vacations, the Griswolds were the family of a generation that grew to love films and, Chevy Chase. But the lighting that was used on this beautiful home could have powered villages across the country. The set which also featured in the TV show, Bewitched, has also featured in other hit movies such as Moonlight, Pleasantville, Small Soldiers and American Beauty.
5) The Stone Family – The Family Stone
A tale of bringing the family together for Christmas mixed with unresolved issues, a new girlfriend and trying to make everyone seem normal; if you’re nodding your head, so are we! But the wonderful home that was used for the film can be found in Greenwich, Connecticut it covers 3,500 acres of land and was built in 1840. It last sold for $4million according to Zillow.
Selling your home can be one of the hardest things you can do. From picking the realtor to then playing the patience game with viewers and when you eventually get to sell your home, the paperwork required to get you over the finishing line. Of course, the most important thing in any home sale is actually selling your home. The first thing to selling any home is understanding what curb appeal is and how to get it!
What is curb appeal?
Wikipedia defines curb appeal as “the attractiveness of the exterior of a residential or commercial property, as viewed from the street. The term was extensively used in the United States during the housing boom and continues to be used as an indicator of the initial appeal of a property to prospective buyers.”
OK, curb appeal is how attractive your home looks to any potential buyer. But why is this important and how will it affect your home sale?
“Curb appeal is the first thing that any potential buyer will use to make a decision on your property. If it doesn’t look the part, then you will have a horrible situation where you can’t even get people to view, let alone make an offer.” Paul Russo from our Florida office continued with, “there are many different things you can take to make your home stand out and get that all important curb appeal; it’s a case of priorities and taking the road best travelled sometimes.”
5 tips for improving curb appeal
1) Focus on the photos
88% of all home searches in the US start online. If you never considered how important it was to get your property photos right, then now is the time. “Pick the right time of the day for pictures, preferably with good sunlight behind you. Don’t crowd your shot with things that may put buyers off like bikes on the lawn or dirty dishes in the sink!”
2) Be a buyer for a day
Imagine you were buying a home and take the time to spend a day looking at properties for sale. Which ones appealed to you and why? “Use this first hand experience to guide you through your own home sale. Drive past your house several times at different points of the day. What works and what doesn’t? That’s what you need to focus on.”
3) Prioritise repairs
Home repairs are a given for any seller, especially if you have lived in a property long enough to damage it. “Scuffs on doors, chipped paint and even that floorboard you’ve been meaning to repair are important but are they more important than let’s say, a new roof? Raised flags on your porch? Broken windows? Prioritise your repairs and don’t skimp on a good tradesman. Smaller things are usually accepted by buyers, but the big ticket stuff will have an impact on your home value.”
4) A bit of landscaping
The big thing about curb appeal is what your house looks like from the road/the curb. That said, what people will take a first, deciding look at is, your garden. “Green fingered sellers attract a lot of potential buyers because the lawn is well kept and the colours of plants and shrubs are appealing. Sometimes, the inside of the home isn’t so. But you don’t need to go overboard. Cut the lawn, mend any fence panels and for added colour, you can pick up bright plants and shrubs cheaply. Show these off in pots or planted in the soil that borders your lawn.”
5) Let there be light!
Finally one the best tips for improving curb appeal is, adding light. “Whether that is to your garden, your entrance or your home living spaces, great light gives people a welcoming feel. Outside lights illuminate darker spaces. Internal lights can make living areas more homely; and that’s important for buyers.”
Have you ever considered the real cost of fixing your house? From the roof to the kitchen, undergoing a massive renovation package to the whole house can end up costing you 000’s and yes that may be something you never considered.
Our investigation into the cost of fixing your home has shown that there are some very expensive fixes which you can’t avoid, especially if you’re looking to sell your house fast. Let’s take a look at some of the more eye watering costs that you could expect if you are looking to sell your home in this market.
The average cost of a kitchen remodel can set you back as much as $49,000. With the average cost of a kitchen remodel at just over $20,000 you may want to think of other more cost effective solutions. Replacing doors and countertops may help with the quality of your overall look and finish but even this can set you back $10,000 with contractor figures factored into the work.
Another cost that people may not consider is the garden! Well, the saying, never judge a book by it’s cover couldn’t be further from the truth with a home. Your garden is a statement and also a security issue. Want a white picket fence to show off, or a rear garden fence line from your neighbours? Your looking at a national average of $2500 just for a replacement fence.
Our investigation into the costs of fixing a home have shown though that some things can’t be avoided. Windows for example are a great way to maximise your return on investment. An average total house replacement for a two up and two down home will set you back just over $4000, however on resale you can make as much as $6000 back, so a total profit of $2000.
Check out our infographic and see how much it would cost to fix your house today, if you were looking to sell it fast!