 When looking for a home, one common piece of advice is to choose a property that will appreciate in value. However, value is subjective. For example, a dream home with an in-ground pool for one person might be a hassle for another. These three house hunting tips will aid you in objectively assessing a property’s potential and identifying the assets that tend to appreciate in value the most.
Look for Hidden Gem Neighborhoods Some house hunters search for neighborhoods that have already become popular, but buying in a hot neighborhood means you’ve missed out on much of the appreciation. These homes have already seen a boost in value due to the appeal of the area. To find a home that will appreciate in value, focus on neighborhoods with moderately priced houses showing signs of potential growth: well-kept homes, low crime rates, and close proximity to schools or parks. Purchasing before the neighborhood gains popularity ensures you’ll maximize your potential profit. Find the Perfect Fixer-Upper It’s common knowledge that fixer-uppers can be a good investment, but take note: Not everyone is willing to put in the work themselves or able to pay for needed repairs. Some fixer-uppers also have too many issues, such as foundation or structural problems, so you would not be able to recoup your expenses when selling the home. Search for homes that need only cosmetic improvements. The key to finding a worthwhile fixer-upper is to know what tasks you’re willing to do yourself and when you need to call in a professional. Evaluate potential gains by crunching numbers before putting in an offer. Avoid making an offer if a property requires more work than you’re financially prepared to undertake. Prioritize Amenities and Curb Appeal Look for a home with amenities that are always in demand, such as a nice yard, patio, or front yard flower garden. Often, it only takes a fresh coat of paint or a little bit of staging—such as setting out potted plants or patio furniture—to boost curb appeal and entice buyers. Homes near parks, schools, or other local amenities also attract buyers and have a built-in value. Consider the house hunting process through the lens of what your home will be worth in the future. Will it increase in value to make you a considerable profit? Look for attributes that are attractive to a wide range of buyers to help narrow down your search and give you confidence in your new home.
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 Use these tips to create an aesthetically pleasing landscape while also being mindful of water conservation.
Choose Native and Drought-Resistant Plants Opt for plant species that are native to your region and can thrive with minimal watering once they are established. These plants are adapted to the local climate and require less maintenance. Utilize Compost and Mulch Enhance water retention around plant roots by incorporating compost into the soil during planting. Cover the area with a layer of mulch to reduce evaporation. Leave some space around the base of each plant and avoid creating mulch mounds around trees and plants. Water Deeply and Infrequently Instead of frequent light watering, provide deep soakings to your plants. This encourages deeper root growth and reduces water loss through evaporation. Watering less often but more deeply also promotes healthier and more resilient plants. Minimize Your Lawn Area Lawns consume a significant amount of water. Consider reducing the size of your lawn by replacing portions of it with drought-resistant ground cover that requires no mowing. This saves water and reduces maintenance efforts. Use Gray Water and Rainwater Install systems to collect and reuse gray water from activities such as laundry and dishwashing, as well as rainwater for irrigation. These sustainable methods provide a free source of water for your landscape and reduce the need for fresh water. Install a Drip Irrigation System Drip irrigation systems deliver water directly to the root zone of plants, minimizing water waste through evaporation and runoff. Compared to traditional sprinkler systems, they can save 20% to 50% more water. Consider adding a timer to ensure efficient watering. Conserving water not only benefits the environment but also reduces your water bills in the long run.  Buying a home can be an expensive process. Enter seller concessions: These are costs associated with purchasing a home that a seller agrees to pay for the buyer. Rather than a buyer paying for these out-of-pocket expenses themselves, the seller agrees to cover the cost, allowing homeowners to sell their home quicker while helping to ease the financial burden on buyers.
How Do Concessions Benefit Sellers? Buyers receive a clear benefit from concessions—they can save money when purchasing their new home. However, sellers can also benefit from offering concessions. In a buyers’ market, concessions may help attract more potential buyers, increasing the odds of a sale. In a high-price/high-interest market, concessions can make a property more appealing by presenting it as a more affordable option than the competition. A motivated seller can offer concessions to reduce the amount of time their property will likely remain on the market. Types of Seller Concessions Out-of-pocket expenses: Commonly known as closing costs, these include appraisal fees, mortgage origination fees, property taxes, title fees, discount points, processing fees, inspection fees, insurance, attorney fees, and HOA fees. Buydowns: A less common concession, in which sellers temporarily lower the interest rate on the buyer’s behalf to make the property more attractive in a competitive market. Repairs: Sellers may offer concessions to cover the costs of any necessary repairs the property requires before closing. Contribution Guidelines It is important for sellers to be aware of the limitations on the concessions they can offer. The concession amount should never exceed the buyer’s closing costs. Additionally, different types of loans have varying guidelines for seller contributions. Conventional loans: The concession amount will depend on the down payment size. Investment properties: Concessions are capped at 2%. Federal Housing Administration (FHA) and U.S. Department of Agriculture (USDA) loans: Seller concessions are capped at 6%, regardless of the down payment size. Veterans Affairs (VA) loans: Seller concessions are capped at up to 4% of the loan amount and can include regular closing costs, prepaids, consumer debt, and funding fees. Seller concessions play a crucial role in real estate transactions, but navigating them can be tricky. That’s why it’s important for sellers to seek expert advice from a real estate professional who can help them make informed decisions.  If you are getting ready for spring-cleaning, instead of reaching for household cleaning products that contain environmentally harmful chemicals, first consider giving your home a green spring-cleaning with some eco-friendly, inexpensive products that can be found in your kitchen cupboards.
Clean Kitchens and Bathrooms with Vinegar Vinegar is an effective cleaning solution for the kitchen and bathroom. Using a mixture of equal parts water and white vinegar to clean bathroom sinks, bathtubs, floors, and taps will remove hard water stains and make your home sparkle. Vinegar is also an eco-friendly toilet bowl cleaner: Pour undiluted vinegar into the toilet bowl, scrub with a toilet brush, and then flush to rinse. The same solution of vinegar and water can be used to wipe kitchen surfaces and mop floors, but never use vinegar to clean granite or marble. Whenever cleaning with vinegar, always try it on a small area first to make sure it does not damage the surface. Use Lemon to Clean and Deodorize Lemons get rid of unpleasant odors in the kitchen easily and naturally. Scrub your old chopping boards with half a lemon and then put the other half in the fridge to remove odors. Deodorize the drains by pouring a mix of hot water and a little lemon juice down the drain. Bring a refreshing lemon scent into the house by using lemon essential oil for cleaning floors. Lemon oil is a natural but powerful disinfectant, and most people like its fresh fragrance. Add six drops of lemon oil into a 1/2 gallon of lukewarm water, stir well, and use the water to mop the floors or to clean the bathroom. Warning: Do not use lemon essential oil for cleaning wood floors or marble counters as it can cause damage. Scrub Stains with Baking Soda Baking soda (sodium bicarbonate) is an eco-friendly deodorizer and household cleaner that is especially useful in the kitchen. Mix four tablespoons of baking soda with one cup of water and use the mixture to clean your fridge, oven, and microwave, or to get rid of grime on kitchen counters and other surfaces. Let difficult stains soak for a while before wiping them down with a damp cloth. Sprinkle baking soda on pots and pans and scrub to remove the stains.  Pinterest has a track record of accurately predicting upcoming trends, with 80% of their reported predictions for the past three years coming true. So what can we expect for 2023? Here are some trends that Pinterest predicts will be popular:
The Home Entrance Homeowners will focus on improving the outdoor landing area of their homes, with boomers and Gen Xers adding gardens to the front of their home entrances and trending searches for foyer entryway decor ideas, front door transformations, front door porticos, and porches for campers. Spalike Bathrooms Showers will become more important as a relaxation space, with trending searches for shower routine aesthetic and home spa bathroom. Open-concept bathrooms with doorless showers and walk-in showers will also be popular. Vintage Vibes Antiques will be incorporated into decor in various ways, with mixing modern and antique furniture and antique room aesthetics being popular. Vintage will also be a hit, with searches for eclectic interior design vintage and maximalist decor vintage. For a fun DIY project, consider antique window repurposing. Water-Conserving Landscaping Sustainability will extend to yards and gardens, with searches for rainwater-harvesting architecture and drought-tolerant landscape design on the rise. Rain chain drainage and beautiful rain barrel ideas will also be popular. Outdoor Space for Pets For those of us with furry friends, creating a dedicated space for them in the backyard will be all the rage. Searches for DIY dog pools and backyard areas have already increased significantly. Stay on top of predicted trends to keep your home looking stylish and modern. Happy decorating  If you’re selling your house, you will need to obtain a home inspection report one way or another. Traditionally, the buyer purchases a home inspection to make sure they are buying a sound, solid home that’s free of major defects. Why not stay one step ahead of the buyer and have your home inspected beforehand?
Your Home Will Be in Tip-Top Shape By getting a home inspection before listing your property, you can discover any problems ahead of time and fix them before a buyer even steps foot in your house. By making all the necessary repairs, your home will be in tip-top shape and more presentable, which will help you get top dollar for your property. You’ll Have Greater Leverage in the Negotiating Phase Having a home inspection in hand and all the repairs completed will put you in a better bargaining position when negotiating with potential buyers. You won’t be faced with any costly surprises and can negotiate for the buyer to pay more toward closing costs since you’ve already purchased the inspection. Avoid Paying Inflated Amounts for Buyer Repairs By discovering any problems ahead of time, you can decide how to repair them. You won't have a buyer insisting on high-end fixtures, name-brand appliances, or inflated financial concessions. Why pay the buyers an inflated amount when you can repair the problem more cost-effectively on your own? Protect Yourself by Providing Full Disclosure When you find problems during your home inspection, you can work with your real estate agent to determine whether to repair the problems or list the home “as is” with full disclosure. If you do make the necessary repairs, you can have the home reinspected and obtain a clean report to show potential buyers. They may choose to have their own home inspection or take your word for it. The Deal Won’t Fall Through Due to Surprise Problems One of the most significant benefits of getting a home inspection before listing your property is that it can prevent surprises from derailing the deal. If a buyer’s home inspection turns up with significant problems, they may back out of the sale or insist on inflated compensation to repair the damage on their own. By fixing the problems beforehand, you can avoid renegotiating and keep the sale moving forward. A pre-listing home inspection is a win-win for everyone: The buyer gets a clean home and sellers avoid issues, such as renegotiations and a possible failed sale if defects are discovered. |
AuthorsA variety of real estate related references and pertinent information by various contributors. Get the latest real estate news and helpful tips regularly. |
Avant Properties
1350 Old Bayshore Hwy Suite 520
Burlingame Ca 94010
Main Tel. (650)796-5565
Burbank Office at (818)653-5358
Email: [email protected]
DRE #01352623
1350 Old Bayshore Hwy Suite 520
Burlingame Ca 94010
Main Tel. (650)796-5565
Burbank Office at (818)653-5358
Email: [email protected]
DRE #01352623