4 Tips to Sell Your Home Fast
Before you sell your house and start looking for a new home, take a hard look at your property. They say first impressions are everything. Is you curb appeal alluring to potential buyers? What about the inside, is your home staged to sell? If you’re looking for tips on how to stage your home for selling, curb appeal ideas and more, you’ve come to the right place. Even when the real estate market is favorable to sellers, home staging can help you get top dollar for your property. As you prepare to get your home ready for sale, a kitchen renovation or a bathroom remodel are two places to start. While you don't have to do a complete renovation, a remodeled bathroom and kitchen adds significant value to your property.
Kitchen Renovation to Sell Your Home
While you may not want to invest money into a home you are trying to sell, a kitchen renovation can give you up to a 70% return on your investment if you choose the right features and spend what is reasonable for your property. Homeowners looking to sell a property can expect to recoup an investment, as long as only 5-10% of the overall price of the home is spent. A kitchen renovation will give your home an updated look and create an appeal to potential home buyers that is hard to resist.
Home Staging is Important When Selling Your Home
Home staging is an art that involves removing clutter from your home and preparing it for sale. The concept behind home staging is to create an environment where potential home buyers can picture their own family living in your space. This means you will remove personal belongings and keep clutter to a minimum. If a room is painted a bright color, consider painting the room more neutral. As you stage your home, you will want to look for ways to make your home look less personal.
A Bathroom Remodel Increases the Value of Your Home
When you remodel your bathroom, you are going to increase the value of your home. It's important to pay attention to the fixtures and features you use to remodel, as you will want the remodel to match the rest of the home. For example, if your home is full of expensive hardwood floors and marble countertops, you should not go with the cheapest bathroom fixtures you can find. Talk with your contractor about possible changes you can make to the bathrooms in your home in order to get the most out of your investment.
Pay Attention to the Curb Appeal
While you stage the inside of your home, you also have to pay attention to the curb appeal. A well-kept yard makes a big difference when it comes to the first impression buyers will have of your home. Even if you don't have enough time to grow gardens, make sure the outside of your home is clean and neat. Remove all yard debris, sweep your walkway, and repair any railings going up to your front door. If your front door is old, replace it with something more appealing.
When you want to sell your home fast, it's important to:
- Consider how you can renovate the current kitchen to give it an updated look.
- Invest in professional home staging to make your home more appealing to buyers.
- Look for ways to remodel any bathrooms in the home.
- Clean up the exterior of your property to give your home better curb appeal.
At RWC Windows, Doors & More, we are ready to talk to you about the various ways you can prepare your home to sell fast. Call us at 973-227-7123 and we will be happy to discuss your renovation options.
How Do I Pay for Home Renovations? [INFOGRAPHIC]
Most homeowners always have a long wish list of various different projects they would love to undertake to improve their homes, including making renovations to the kitchen, bathroom, roof, building an addition, improving their HVAC system, and more. However, considering that most home renovations are quite expensive, money often comes in between many homeowner’s wishes and dreams. But the good news is that there are many ways to come up with the funds needed to finance home renovations.
Check out the ways to pay for home renovations:
Saving up and paying in cash
Paying for your home renovations in cash is arguably the easiest and best way to pay for home renovations. With cash, you won’t have to worry about payments or need to tie up your home’s equity with a loan. This is always the most financially sensible path to take, but it often limits the scope of home renovations that many homeowners can undertake. If you are short on cash, you can only undertake one small project at a time.
Home equity loans
A home equity loan is a great way to pay for home renovations if you don’t have the money to pay in cash. Home equity loans allow you take out a loan against the equity of your own house, and they generally offer low interest rates together with the ability to subtract those interest payments from your federal income taxes. However, you need to have a great credit score and at least 5% to 10% equity, or even 15% to 20%, to qualify for the loans. The biggest downside with home equity loans, however, is that because your home acts as the loan’s collateral, failure to make repayments can result in your home’s foreclosure.
Cash-out refinancing
This may be a good option for you if you have owned your home for several years, cleared its loan balance, and the home has increased in value. However, note that your monthly payments may go up even if your interest rate is lower because now you have a larger loan which includes the cash you take out for the renovation project. Additionally, you can opt for an FHA 203k loan which allows you to bind the costs of your renovations into your mortgage.
Taking a personal loan
If you don’t prefer putting your home up as collateral for a home equity loan, then taking a personal loan is a good option of financing for home renovations. Personal loans don’t offer the tax advantages that come with having a home equity loan or refinancing, but if you have a good credit and wouldn’t want to put your home up as collateral, it’s a good to consider. However, personal loans usually have higher interest rates than equity financing and mostly have a shorter repayment time frame.
Using Credit Cards
Credit cards can help you obtain funds for small renovations on your home, or for purchase of the materials required in the project. They allow you to make purchases when you don’t have cash up front, and you get rewarded with points by certain credit cards for every dollar spent. However, with this option you have to make sure that you can pay off your balances in full every month because the cards generally offer higher interest rates than many other types of financing.
Takeaways:
Some of the best ways to pay for your home renovations include:
- Paying with cash
- Cash-out refinancing
- Taking a home equity loan
- Taking a personal loan
- Using credit cards
- Considering an FHA 203K loan
These are just some of the many options available for home renovations financing that you can consider to make your dreams come true. When you’re ready to turn your dreams into reality and get started on remodeling your dream home today, consult the home remodeling experts at RWC Windows and Doors today!