There are some ugly home features buyers don’t like, but are not too hard to fix if you are thinking of selling your home. According to a recent Realtor.com report, here they are:
Ugly kitchen cabinets
Most kitchens don’t require a full renovation. According to Remodeling magazine: “As long as the cabinets aren’t 20 or 30 years old, repainting and adding new handles is relatively cheap and can change the entire look of the room.” Refinishing an existing cabinet will cost about $1,400 to $3,500, according to HomeAdvisor, a home services marketplace.
Wallpaper covering the rooms is something else buyers don’t like. But removing and hanging wallpaper is a relatively easy do-it-yourself job. Or, hiring a contractor for professional wallpaper installation costs about $500 per room, according to HomeAdvisor.
Tacky paint colors
How about pink or purple? Try to help buyers overlook distracting colorful walls. Have them imagine it painted a color to make the room even look larger, like gray or a cool blue. After all, paint tends to be an easy fix, either as a do-it-yourself job or done professionally. Professional painters typically cost from $380 to $790 for a 120-square foot room.
Buyers sometimes focus on old or dirty carpeting. But a good cleaning can bring new life to worn carpet. Shampoo vacuums cost $90 to $200, a professional-grade carpet cleaner can cost $400, or you can rent one from a hardware store for about $25 to $30 per day. Professional carpet cleaning companies tend to charge a minimum of $75 to $109, according to CostHelper.com. For home purchasers who just can’t get past the carpet, they may want to budget for installing new carpet at about $2 to $5 per square foot for middle-grade carpet material, according to HomeAdvisor (often 1,200 square foot of new carpet will cost about $2,400 to $6,000).
These are some less expensive ideas to help you fix-up your home for buyers and get the most amount of money for your home. Want more? Email/Call or Text me at 650 483-4932 for many more ideas!
More homeowners have gained equity if you own a home on the San Francisco Peninsula, according to a new report released today.
CoreLogic® (NYSE: CLGX), a global property information, analytics and data-enabled solutions provider, just released an analysis showing that U.S. homeowners with mortgages (roughly 63 percent of all homeowners) saw their equity increase by a total of $227 billion in Q3 2016 compared with the previous quarter, an increase of 3.1 percent.
According to Frank Nothaft, the chief economist for Corelogic: “Home equity rose by $12,500 for the average homeowner over the last four quarters. There was wide geographic variation with homeowners in California, Oregon and Washington gaining an average of at least $25,000 in home equity wealth.”
The main cause of equity increase? Anand Nallathambi, president and CEO of CoreLogic: “Price appreciation is the main ingredient for home equity wealth creation, and home prices rose 5.8 percent in the year ending September 2016 according to the CoreLogic Home Price Index. Paydown of principal is the second key component of equity building. Many homeowners have refinanced into shorter-term loans, such as a 15-year loan, and by doing so, they have significantly fewer mortgage payments and are able to build equity wealth faster.”
The metro level, with the cities that have the highest percentage of mortgaged properties with positive equity are:
San Francisco-Redwood City-South San Francisco, Calif.: 99.4%
Houston-The Woodlands-Sugar Land, Texas: 98.5%
Denver-Aurora-Lakewood, Colo.: 98.4%
Los Angeles-Long Beach-Glendale, Calif.: 96.9%
If you would like a copy of CoreLogic’s 3rd Quarter 2016 Equity Report, and/or what this means for you if you are thinking of Selling, send me an email to email@example.com or give me a call at 650 483-4932.