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Maximizing
Your Home Resale Value With a NJ, NY, or CT Renovation |
In today’s slumping NY and NJ real estate market agents and
homeowners are desperate for buyers. This is why it makes sense
to increase the value of your New Jersey home or Manhattan condo
now so that your property doesn’t languish for months when
you’re ready to sell. Besides, renovating your NY, NJ, or
CT home can make your stay in it even more pleasant as you wait
for the right offer to come along.
The bottom line is that a buyer wants a home they can move in to
immediately, not one they’re going to have to spend months
renovating before its livable; and in today’s market they’re
in a position to demand it. Taking a few simple steps before listing
your property ensures you’ll get the sale price you want.
MyHome’s New Jersey, Connecticut, and New York renovation
teams can help you prepare your home for resale at any step along
the way.
Below are some tips for making sure your home is maximized for
resale value.
Update and Upgrade Your Kitchen
Kitchens are truly the hearths of the home and today’s buyers
especially look for contemporary and deluxe kitchens. At the very
least make sure you’ve installed well-functioning or new
appliances coupled with lots of solid surface counters and high
quality flooring like wood, tile or stone. Cabinets should also
be in good condition and match well with the flooring and counter
space. If you’ve got the budget for
changes to the property’s structure, more and more NYC apartment
buyers are looking for kitchens that open up into dining and living
areas via pass-through breakfast bars. This can creating a feeling
of openness and airiness in otherwise cramped conditions.
Modern Bathrooms & Luxurious Master
Bathrooms
Besides the kitchen, the Master bathroom is one of the most important
aspects buyers look for in a new home. A spa or whirlpool tub is
a huge asset as are separate showers with multiple jets, a double
sink, or even a separate room for the toilet. But before you
install any new products, make sure the plumbing and water heater
can handle the job of carrying and heating the
larger water volume lest you end up with a state-of-the-art tub
that can’t be filled with the steaming water that makes it
luxurious in the first place.
Likewise, a master suite that incorporates a lounging area and
walk-in closet are more likely to sell at a higher price than cramped
Spartan quarters.
Natural Materials
The Green or CleanTech
Revolution has
had had a huge impact on the home renovation market and more than
ever people like to see natural materials like ceramic tile, hardwood
floors, and stone. Especially look for natural options when renovating
bathrooms or kitchens; materials like linoleum and carpet can tear
and stain easily and so don’t offer the same look of high-end
luxury that can drive your home’s value higher. Suburban
homeowners in NJ and NY can also increase their property value
by adding solar
options. In fact, the state might
even subsidize some of your project’s cost!
Best Foot Forward: A.K.A. Curb Appeal
It may seem like cliche, but first impressions are absolutely essential.
Make sure the property is tidy and appears well tended. This may
require new siding or painting.
It doesn’t matter how much
you spent on that new whirlpool tub and NJ kitchen skylight, if
the place looks ramshackle from the curb, buyers are more likely
to pass. This means making sure your landscape design is maximized—touches
like gazebos and mature plantings go a long way. The exterior
painting, driveways, and mailboxes/house numbers should also be
touched up or replaced.
Quality Windows & A Feeling of Airiness
Replace poor quality windows with energy efficient high quality
options. A home buyer will be turned off if they have to factor
in replacing the windows within the first season or so and will
subtract the cost from their offer.
Storage
If you can add extra space—in a garage, attic or extending
a closet—do so. Today’s active families need more space
than ever.
Basement
A finished basement is essentially an extra functioning room, so
if you can renovate the room do so. At the very least make sure
there are no flooding or moisture problems because that will certainly
detract from your sale price.
Update Appliances
If your home still boasts the top of the line fridge from 1984,
it’s time to update. Now that refrigerators, washers and
dryers, and ovens are benefiting from the tech revolution, buyers
are less likely than ever to be satisfied with out-of-date, worn,
or broken appliances. Try to upgrade with high-end products. If
you can’t do this, then at least go with functional and attractive
appliances.
Use Neutral Design Schemes
You may love the gold lamé wallpaper and red tile in your
downstairs bathroom, but chances are your prospective buyer may
not. A buyer wants to be able to envision your house as their home,
but that’s not going to happen if the décor is circa
1992 or too personal. MyHome’s Design consultants can help
you redecorate with attractive neutral colors and fabrics that
will appeal to a wider range of personalities and tastes.
Replace Your Roof If Needed
A good roof is standard in any good home. If yours needs to be
replaced, do so or expect to take a hit in your home sale price.
Roofing choices range from the basic to the luxury high end. MyHome’s Consultants can guide your
toward the best choice for your home—putting custom Italian
tile roofing on a Bergen County, NJ town house may not be as wise
a choice as it would be for a Westchester single family home, for
example.
Fix What Needs Fixing
It may seem like a no-brainer, but if there’s a list of things
that need improving in the home—like a bathtub that needs
recaulking or a bedroom that needs repainting—fix them before
listing the property. Prospective buyers are going to list these
items and subtract the cost of fixing each item from the sale price.
Or, worse yet, they won’t even make an offer on the assumption
that if you haven’t fixed the obvious the house may harbor
more significant problems they can’t see immediately. A MyHome
consultant will be happy to walk through your property with you
and evaluate which items require immediate attention.
Environmental Hazards
Particularly in the Northeast’s tri-state area where many
homes are older and have been repeatedly renovated with inconsistent
workmanship, issues such as lead paint, mold or asbestos are important
and can destroy your home’s value. Make sure the property
is free of any environmental hazards before they damage your ability
to sell it.
The MyHome Way
Now more than ever is the time to utilize MyHome’s full-service
process to take care of everything. Trying to piecemeal manage
each part of your resale renovation can take much needed time away
from your life. MyHome is fully equipped to handle every part of
the process to maximize your resale value in one fell swoop. Call
us today and we’ll walk you through your complete renovation
options step by step so your home is more attractive to buyers
and for you as you hold out for your price and maximize the return
on your investment. |
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