You’re putting your house up for sale and it can definitely use some updating and improvements, but how far do you go? Do you initiate a full scale renovation from top to bottom or limit your changes to some painting and de-cluttering?

An updated, newly renovated home definitely increases your home’s allure to prospective buyers, and you don’t want people walking away because your house requires more updates than they are prepared to deal with. You also don’t want to spend more money than you’ll ever recoup on your investment. Here are some tips that will help you decide which renovations are worth your time and money.

The figures below will give you an idea of the potential for payback for renovations when a house is sold:

Kitchen – 78%

Bathroom – 71%

Interior painting – 74%

Exterior painting – 63%

Main floor, family room addition – 55%

Flooring upgrades – 62%

Central air conditioning – 52%

Fireplace addition – 50%

New heating system – 50%

New windows – 48%

Finishing the basement – 49%

Landscaping – 35%

Energy efficient features – 33%

Dollar for dollar, your best return is usually spent in the kitchen or the bathroom. The value of a fresh, paint job in neutral colors should not be undervalued; many prospective buyers have turned away from homes simply because of their outdated or unflattering wall coloring.

A kitchen should be bright, clean, functional and free of clutter. According to a 2006 Royal LePage survey, kitchens with stainless steel appliances, granite countertops and brushed nickel finishes give you 44% better return on your investment. An alternative to replacing dingy, wooden cupboard doors may be a simple paint job, or having stained doors professionally cleaned. New handles and hinges can also make a world of difference. Any sign of water damage raises red flags and these should be repaired immediately.

The bathroom is the next most important room to consider when selling your home. Overall, spa-like bathrooms give you a 56% better return on your dollar. Not everyone is prepared to add that two person Jacuzzi tub, and unless it’s in really bad shape, usually a new paint job, an updated shower curtain and fresh towels is all your bathroom may need. Instead of replacing a tub, you may want to consider having it reglazed, and toilets are quite reasonable to replace, if necessary. Cabinets can be freshened up with new paint and handles and you may want to consider replacing an old damaged floor as well.

Flooring is expensive, and unless they are in really bad shape, do not need to be replaced. Solid floors; however, should be gleaming and carpets well cleaned. Any squeaky floors should also be repaired or replaced.

Entryways, lend to first impressions; they should be bright, maybe contain an eye catching accent or two, and have a roomy feel.

An outdoor deck or patio can add up to thousands of dollars in value on a home.

Does your home have curb appeal? Houses are bought and sold every day before the client even steps through the door. It’s that emotional buy that says, “I love that house, it’s just what I’m looking for”. Mentally, that buyer has closed the deal before they even walk through the door. Curb appeal plays a big role in downplaying other deficiencies in the home.

This may not mean replacing the siding, but ensure the gardens are neat, the fences are painted and the overall appearance reflects a well maintained home.

The following areas provide little or no payback value upon sale:

Pools and spas

A renovation gone bad or not completed

Gaudy or overdone renovations in small homes

Make a list of general repairs that have to be completed and a list of the renovations that would contribute to the sale as well as give you a good return for your money. Get three quotes on the required work, or if you’re doing the work yourself, make a budget of the cost of materials. Weigh this against the selling price of your home and make any necessary adjustments.



Sell and Rent Back

We are rellocating from regional Victoria (Latrobe Valley) to Melbourne whilst my partner attends university. We are currently purchasing our home and would like to know whether it would be better off to sell the property and invest the money ( for use as a deposit later on) or to keep the property and rent it out. We are unsure if we will return to the country or end up staying in the city.

Repossession

Divorce and moving house – two of the most stressful situations people experience in their lives. By using a house buying company, you can sell your house quickly, with the minimum of fuss, and help reduce at least some of the stress involved in getting divorced.

Often the most contentious part of a divorce or separation is what to do with the family home. With the rise in house prices over the past decade, houses represent a major asset for both parties.

Usually, to reach a fair settlement that both parties can agree to, the house will be sold and the proceeds from the sale shared. In fact, of the 150,000 divorces in the UK last year, it is estimated that the family home was sold in 35% of cases.

Often a couple will have other outstanding debts that need to be paid off, and again selling the family home means these debts can be paid and a settlement reached.

House buying companies can help people just like you, property owners who are going through a divorce or separation. People that want a clean break to move on with their lives. Whatever your reason, a house buyer can help. Just type “quick house sale” or “buy my house” into Google, and you’ll see a selection of UK home buyers, many of whom will specialise in dealing with people who are going through divorce.

How can a house buying company help?

Selling a house through estate agents can often take months, with all the inconvenience of viewings, and delaying the finalisation of the divorce or separation agreement.

Most couples going through divorce want a quick, clean break with the least hassle and argument – this is where home buyers can help. By using a quick house sale company, people can quickly sell their property with the minimum of stress, realise the cash value and move on with their lives.

What are the benefits of using a home buyer?

· You can guarantee the purchase of your property

· We can complete the sale process quickly and to suit your timescales

· You avoid estate agency fees

· You avoid the stress and uncertainty of selling on the open market

· You avoid having the stress and security issues of multiple viewings

· Your next house, its cost and your moving timescale is guaranteed, enabling you to relax



Sell House Quick

Selling and renting back your property is a big decision. It’s important you understand the sell and rent back process and how you will benefit. Basically you are selling your property to an investor who is then going to allow you to rent it back. In many cases it is agreed that once you sell your property you will be able to rent it back for as long as you need. However, this should be agreed in writing before you sell.

Why sell and rent back?

· You would like to release equity

· Need to pay off debts

· Avoid repossession

· Divorce settlement

· Bereavement

· Emigration

Advantages of a sell and rent back are that it can prevent you and your family from being evicted should you be facing repossession. It allows you to stay in your home preventing upheaval and disruption to you and your family. If you have a large amount of debt sell and rent back can help you become debt free quickly and privately. Also if you need to sell quickly perhaps because you are emigrating or settling a divorce a sell and rent back scheme could be of use. A sell and rent back opportunity is of particular benefit to older people who no longer wish to be burdened with actually owning a home.

The sell and rent back option is not for everyone and any decision like this should be thoroughly researched. In many circumstances a homeowner can rent back their property for much less than their prevouse mortgage repayments thus relieving financial burden. This is ideal for retirees and people who need higher disposable incomes.



Rent Back Fast

I am a landlord and was asked by a r/e broker if I want to rent my property to a foreign tenant who is a student. how do I screen such a tenant and ensure he pays rent as he should over the lease?

Quick House Sale