10 Tips for Increasing Your Home Value - Tip 10 - Pay down the principal your loan

Over the last week we have been posting about 10 Tips to help increase your home’s value. We are already at tip #9, if you have missed the first few tips you should be able to find them in the blog archive area just to the right of this post. The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 10: Pay down the principal on your loan.
“This may be the most important tip we can pass along to you is, as you make all those home improvements, don't forget the cash. Your financial strategy can boost your home value in a big way. Many different loan features can be added together to give someone a loan that is comfortable for them; give them an opportunity to do home improvements and to invest in their future.

Don't overdo your down payment. If you spend all your money in a down payment, you may not have enough to do the improvements you want. The rule of thumb is if you are moving into a fixer upper, go for 10 percent down. 

Don't rush into your home loan, as there are dozens of types. The strategy that you develop for the type of loan you want depends on where you see yourself in five or 10 years. Managing your debt payment with an interest-only payment will give you an opportunity to save that money for retirement or save it for a college fund.

Refinancing is a chance to switch up your loan and try something new. Avoid using refinancing as a financial crutch. Are you doing it to lower your interest rate, or are you doing it because you want cash? If you are moving in a year, refinancing probably isn't a good idea, as it costs between $1,900 and $2,600.”

10 Tips to Increase your Home's Value - Tip 9 - Hire a certified home inspector

Over the last week we have been posting about 10 Tips to help increase your home’s value. We are already at tip #9, if you have missed the first few tips you should be able to find them in the blog archive area just to the right of this post. The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 9: Hire a certified home inspector.
“ Think of it this way, you go to the doctor for physical exams and take your car in for checkups. Why not do the same for your house? A home inspection can be a valuable thing, whether you are selling your home or not.

If you are deciding to sell your home, get your own inspector before you put your home on the market. This is sometimes known as a pre-inspection. The last thing you want is to have a contract on the table, only to hear the inspector has found issues with the home, this can cause a contract to fall through or can end up meaning more money out of your pocket. If you know in advance, you can take care of it. If a home inspection turns out well, it is likely the buyers will feel good about their purchase and not ask for costly fixes or concessions.

Why bother having an inspection if you're not worried about selling? Right….Wrong. Having your home inspected, even if you are not planning to sell today or tomorrow can help you in the future. Keep those records to show future buyers that you have maintained your home all along. Also, time is on your side. You can fix problems on your terms for far less than you will likely spend if you wait. Think of it like a physical that will only keep your home healthy and more valuable.

If you get a clean bill of health, it helps you make decisions. You can pick your home projects and spend your money with confidence.”

10 Tips to Increase Your Home's Value - Tip 10 - Benefits of upgrading vs selling

Over the last week we have been posting about 10 Tips to help increase your home’s value. We are already at tip #8,  if you have missed the first few tips you should be able to find them in the blog archive area just to the right of this post. The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 8: Weigh the benefits of upgrading versus selling.
“Should I stay or should I go? It's a question many homeowners are trying to figure out. Here is how to tell if there is more value for you in fixing up, or moving on.

First, estimate your costs to buy a new home. Add up the realtor and home selling costs (packing, moving and the new loan financing). Don't forget hidden items, the buyer may ask you to replace the carpet before you sell or any other fixes to the home that you were not aware of or just didn’t have the time or budget to fix earlier. Make your best effort to include everything it will cost in time and money to sell your home and buy a new place. Then, you will want to estimate what you may get for your house and how much money you can potentially walk away with, with the closing of your current home.  When deciding on a new home, make sure you write down a “must-have” list, these are items your new home must have in order for you to make the move, does your current home already have these?

If you like your neighbors and your school district, consider remodeling. You can get exactly the home you want and you won't risk any buyer's remorse. Estimate the cost of making the most essential renovations needed for you to stay in your current home. Decide what you would like to do and go price shopping at your home improvement store. Contact contractors and get estimates on the projects that are not sure you will be able to tackle yourself. This is especially important if you need to add on extra square footage.

Look at what it would cost to move, then what it would cost to remodel. Add in the X-factors such as friends, schools and neighbors, are you close to shopping, restaurants, or even a bus line. When all is said and done, you may find you get more equity by staying in your home and remodeling.”

10 Tips to Increase Your Home's Value - Tip 7 - Beautify your bathroom

Beautify your bathroom.
Of all the rooms in your house, the bathroom is the workhorse. There is lots of wear and tear, so you want to keep it functioning well and make good looking upgrades along the way.

• Focus on your faucet. Bathrooms are not utilitarian anymore. People like to feel relaxed, like they are in a spa. Drop-sinks are old news, people want the under-mount sinks.
• Go granite or marble with your countertops. If you are toying with the granite idea, your bathroom counter is most likely smaller than your kitchen counter and less expensive. This is a great place to start your first granite project.
• Nix the overhead lighting in favor of wall mounts to add warmth and value to your bathroom. Make sure that around your mirror you have even lighting with no side shadows.
• Heated floors attract buyers like bees to honey.
• Upgrade your bath area. With an 85 percent return, install a shower with body sprays and stone surround tile. If you are not selling right away, you will feel like you are in a Zen garden every time you step into your bathroom.
• Keep it clean. Dirt and grime can become embedded in bathroom surfaces very quickly. Freshen it up with new grout.

10 Tips to Increase Your Home's Value - Tip 5 - Curb appeal

Over the next 10 days I would like to share with you 10 Tips to help increase your home’s value. We are on to tip 5, if you have missed the first two tips you should be able to find them in the blog archive area just to the right of this post. What are your thoughts so far? Have you tried any of these tips? The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 5: Curb appeal counts.
“Do you want a fresh perspective on the value of your home? All you have to do is walk across the street, turn around and ask yourself, "Does my home have curb appeal?" Do you think your home looks attractive, welcoming and structurally safe all within that first glance?

It is always good to make a list of ways to enhance the positive and eliminate the negative. If you have a nice curvy walkway, accentuate it with flowers or lanterns. If the first thing a visitor sees is your big wide garage, try to guide their eyes into a beautiful front yard, or paint your front door red to guide the eye there. These simple ideas can end up adding value.

Here is a great tip, Take a photo of your home and turn the photo to black and white, you can usually do this on your phone with any photo app or easily find a free app online. When the color is removed, the truth comes out. That is where you see the cracks in the walls and the glaring flaws.

Keep things clean and tidy. Talk to your neighbors because this affects them too. Curb appeal doesn't stop at your property line. Your home will be more valuable if you live in a place where everyone pays attention to appearance.

Another great way to get your neighbors involved and making the curb appeal stress across the streets is to host a neighborhood cleanup party. Team up with neighbors to mow lawns and trim hedges. See who wants to go in on a few flats of border flowers. By adding curb appeal to your entire neighborhood, you will all boost your home values.

When you're looking at your curb appeal, don't forget the side and rear views. Buyers walk around and peek over fences. If you have a great front landscape, see if it’s possible to continue this along the side of your home, maybe up to your fence line.”

10 Tips for Increasing Your Home's Value - Tip 3 - Small Improvements

Over the next 10 days I would like to share with you 10 Tips to help increase your home’s value. We are on to tip 3, if you have missed the first two tips you should be able to find them in the blog archive area just to the right of this post. The thought of increasing the value of your home may be easier than you think By following these tips found via the Home and Garden Network, your home may be worth more than you think.

Tip 3:  Small improvements can really pay off.
“ It can sometimes be tough to decided between improving your home’s décor, versus making upgrades that you are sure to know will increase the resale value of your home. Several homeowners are shocked to hear that doing a little bit of both will actually pay off.

Again, start by making two lists; simply label the list as “upgrades for your home value” and “upgrades just for you.” The upgrades for your home list may consist of replacing older faucets, permanent lighting and doors. The upgrades for you will consist more of items, such as, furniture, artwork and window treatments. Let’s remove the old dartboard approach to picking projects and wondering if what you are doing is really making a difference. With this plan, you should see real progress.

If you have spent a larger portion of your budget on making an upgrade you can adjust and smaller changes for the next couple of months. Simply, upgrade a couple of electric plugs or buy a small lamp. If possible try to just one upgrade per month and you will be happy with what you see.”