daniel.peaper@longandfoster.com
3 Ways to make your home worth more!
Redo the bathroom, not the kitchen
“It’s always been conventional wisdom that the best remodel you could do was the kitchen,” says Humphries. “We actually crunched an enormous amount of data...what we found is actually it’s the bathroom remodel that adds the most value to a house.”
According to Humphries it makes the most logical sense because with a bathroom remodel functionality is being added to the house whereas kitchen upgrades are often more about fashion.
According to Zillow's data a mid-
Plus “when people come to stay with you, you’re going to be a lot happier that you have a nicer bathroom than kitchen.” Kitchen renovations offer among the lowest returns on investment. Both mid range and upscale work on the kitchen recover only about half of their investment.
Just don't invest too much money in the bathroom, upscale $12,000 bathroom upgrades result only in an $0.87 increase in home value for every $1.00 spent.
Selling season
Home sales reach their peak in June, during the last week of that month residential real estate transactions are 40% higher than average. But when is the right time to list your home?
The home season starts to crank up in January and February, says Humphries. But to
get the most bang for your buck you might want to list your house during the last
two weeks of March. There's a sharp spike in visitors making contact with real estate
agents on Zillow beginning in mid-
Selling in the last weeks of March, before the peak in agent contacts and after the
peak of newly listed homes in February puts your home in the sweet-
Humphries writes to "put your home on the market after you fill out your NCAA March
Madness basketball brackets, but before someone slips on an ivy-
Psychologically price your home
Ending your home price in a ‘9’ is incredibly beneficial, says Humphries. “If you
were going to sell your house for $150,000, just pricing it down by $1000 and selling
it for $149,000 ends up in you making $2175 more than you would if you priced it
at $150,000.” The '9' dynamic works for houses at all price-
In the majority of cases, home prices that end in a '9' sell for more for a home of the same relative value that ends in a '0.' The risk that the seller takes on by cutting their home price by $1,000 usually results in gaining more than $1,000 over asking.
psychological pricing also sold home faster-
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