| Using a home equity loan or line of credit to finance | | | | without a lot of work or time. Clean the windows! |
| renovations and improvements on a property can be | | | | Let me repeat that, clean the windows so that |
| profitable and quite rewarding if done properly. | | | | someone viewing the home from the inside will only |
| When you are planning to sell a property and you do | | | | see brilliant sunshine streaming through the windows |
| not have funds on hand to improve, repair, renovate, | | | | into this nice, clean, new carpet and paint smelling |
| or rehabilitate it, then a home equity loan or line of | | | | environment. If it is not sunny out, the windows will |
| credit can get you over this hump. | | | | allow as much light as possible and make the interior |
| If you are not planning to sell the property, and | | | | look larger. If the windows are dirty, and there are |
| expect to live there for an extended period of time, | | | | dead bugs and dirt in the globes of the ceiling |
| then a refinance package with a mortgage lender for | | | | fixtures, your prospective buyers will cringe. Even the |
| first or second mortgages, would likely be preferable. | | | | very interested prospects will undoubtedly offer less |
| Unless you are the recipient of large amounts of | | | | money. Five dollars worth of cleaning supplies can |
| monthly cash inflow, I would advise that you do not | | | | bring you hundreds in return. |
| contract for major improvements or purchases on a | | | | Make sure all the appliances are clean and in working |
| credit card if you are looking to sell the property. | | | | order. If you need to replace anything, a good used |
| This tends to make spending more than you really | | | | appliance store is the ticket. When prospects open |
| should on things too easy, and the bills linger long | | | | the door to the refrigerator, it should be clean inside |
| after the property has been sold. | | | | and cold. When they open the door to the oven, it |
| Using an equity loan or homeowner line of credit can | | | | should be clean. The burner pans on the stove should |
| be very helpful if you keep an eagle eye on the | | | | always be replaced. Installing a used dishwasher can |
| bottom line. Also, these types of loans are paid off | | | | be problematical, however, if the property already |
| at closing when you sell the property, leaving no | | | | has a dishwasher installed that does not work, it |
| residual bills and should be taken into account in price | | | | should be replaced. For this, the used appliance store |
| negotiations. | | | | is the place to go. To install a new dishwasher |
| If you have been watching television and believing | | | | becomes expensive, particularly if the property does |
| what they tell you regarding how to improve the | | | | not already have a dishwasher. Sometimes plumbing |
| resale value of your home, it is important to | | | | and electrical may be required to do so. A |
| remember on TV the homeowners are receiving a | | | | pre-existing dishwasher, eliminates those problems. I |
| great deal of labor, materials and design help that you | | | | personally, always try to install a garbage disposal in |
| will likely have to pay for. So, if you are only looking | | | | the kitchen. They are reasonably inexpensive, easy |
| to sell your home, putting $10 in to get $10 out is | | | | to install, and generally very well received by buyers. |
| futile. The real goal is to put $10 into your home and | | | | Because of the low price of disposals, this should only |
| to receive $300 to $500 out at time of sale. If you | | | | be a new item. |
| are planning to stay in your home, then your | | | | If it is summertime and very warm out, make sure |
| decisions should not be based on dollar return, but | | | | the air-conditioning is working, and it is cool (72-74 |
| only upon your personal likes and dislikes and comfort | | | | degrees) when the prospects walk in the house. If it |
| levels. | | | | is winter, make sure the heat works and that it is |
| Before you start this project, it is imperative that | | | | warm (68-70 degrees) when they walk in. This gives |
| you decide precisely what your goal is. Decisions you | | | | the prospect the immediate feeling of comfort in the |
| will be making may be quite different depending on | | | | property. Subliminally, in the back of their mind, they |
| what you're planning to do. You may personally love | | | | have already begun to feel that the home is |
| long white shag carpet in your bedroom, however, | | | | sheltering them from the elements. For you, the |
| very few buyers will share that with you. You may | | | | seller, this is a good thing. |
| want to put shelves high in all the rooms with holes | | | | Make sure that the kitchen and the bathrooms are |
| connecting a model train set throughout the house. | | | | clean and smell clean. Renovating these rooms can be |
| Again, very few buyers are in the market for that. | | | | very profitable, but, you need to do some of it |
| If you are planning to stay in your home, then by all | | | | yourself. Don't panic! The skills involved are not that |
| means redecorate for your pleasure and taste. If | | | | complicated, and the home-improvement giants such |
| however, you sincerely wish to sell your home, and | | | | as Home Depot and Lowes will even teach you how. |
| are looking for the most money out for the least in, | | | | All faucets should work without leaks. Leaks can |
| then I have some words of wisdom for you. | | | | usually be fixed with just a few simple washers from |
| 1.0. Remember that no matter how beautiful the | | | | a hardware store. The hot water faucet, should have |
| inside of the property is, if your prospective buyers | | | | hot water coming from it. The water in the toilets, |
| do not get inside, because it has no curb appeal, you | | | | and the tanks should be clean (put a bowl cleaner in |
| have no chance of making a sale. The first place to | | | | the tank, it's a good idea) and should flush easily. Do |
| start in making your home attractive and sellable is | | | | not place any toilet tissue in the bathrooms of a |
| with curb appeal. In the summer, the grass should be | | | | vacant property that you or anyone else is showing |
| green (fertilize, water, weed n feed), neatly cut, | | | | for sale. This discourages people out of your control |
| edged, with no weeds or bare spots. Put down some | | | | from using the facilities and leaving a nasty mess for |
| sod if necessary. If you have concrete driveways, | | | | you to clean up. What is worse, if such a mess is |
| pressure clean them so they are bright and white. If | | | | left, imagine a buyer's reaction to it when they may |
| you have asphalt driveways, seal them so that they | | | | be viewing the property with a Realtor. |
| are glossy and black and new and clean looking. Paint, | | | | Always remember that out of a hundred prospective |
| at least the front and sides, of the house (all is | | | | buyers, more want to buy a property that is clean |
| better) with a bright, light, inviting color (eggshell, | | | | and neat rather than dirty and smelly. More of those |
| white, etc., it makes it look bigger and cleaner!). If the | | | | same buyers will buy a property with neutral colors |
| home is brick or siding of some sort, then pressure | | | | and carpet, walls, accessories, etc. Very few |
| cleaning may well be appropriate for it also. Paint or | | | | prospects will be interested in purple walls or carpet. |
| refinish the front door. If the door is in bad shape, | | | | The same goes for other loud and outrageous |
| then replace it with something attractive. Clean all the | | | | features, be it colors, textures, or graphics. Gothic |
| windows so that they shine like Crystal from the | | | | symbols on the walls or any socially offensive political |
| outside (more on this later). Make absolutely sure | | | | or religious icons will only work adversely toward |
| that there is no trash, debris, or junk cars on the | | | | your goal of selling the property profitably and easily. |
| premises. There are a thousand little things that you | | | | Regardless of what you may personally believe or |
| can do to improve the curb appeal, but clean, neat, | | | | think, extremes will offend someone, somewhere, |
| and neutral are the guidelines to work with. | | | | somehow. If you wish to make a political statement, |
| 1.1. No one wants to buy someone else's fleas, pet | | | | go to a demonstration or vote. If you want to sell |
| smells, grease piles, or expensive/outrageous | | | | the property to the widest available market, neutral |
| ridiculous colors, treatments, or idiosyncrasies. Buyers, | | | | and milk toast should be your guidelines. That is not |
| by and large, are looking for a neutral palette to | | | | to say that you cannot add some nice touches such |
| place their own mark on. If the property has old and | | | | as tile in a bath or kitchen or porch, but looked |
| worn carpet or floors, then replace it with a neutral | | | | toward earth tones and not dramatics or absolutes. |
| carpet or laminate (look for large remnants and | | | | Lastly, if you are living in the home, while renovating |
| leftover stock with carpet and flooring dealers for an | | | | and trying to sell, take half of the furniture out and |
| overall installed discount price). Paint the inside of the | | | | put it in storage somewhere. This will go a long way |
| property, again with a neutral white or eggshell color, | | | | toward reducing clutter and making the property feel |
| to make it look bright, inviting, and neutral. If there | | | | much less small and congested. Buyers want to stroll |
| are small nail holes, anchors, or damage to the interior | | | | through a prospective home, not a minefield or a |
| walls, a little spackle and self-adhesive patching and | | | | maze. |
| joint tape will do wonders. Further, buy a thick, | | | | I hope these tips will serve you well with your |
| heavy, one coat covers all, texture paint for the | | | | project. |
| interior. This will solve a multitude of minor problems | | | | |