3 Major Changes You Need To Make Before Putting Your Home on the Market

When it's time to list your home on the market, it's not just about slapping a for-sale sign on your front lawn.

The process involves much more than that. To attract potential buyers and get the best possible price for your home, you need to ensure that your house is at its best, both aesthetically and functionally. Many homeowners underestimate the importance of home improvements before listing their property. But the truth is, these upgrades can significantly boost your home's market value and make it stand out in the crowded real estate market. This article discusses three major changes you should consider making before putting your home up for sale. Each of these improvements serves a dual purpose by enhancing your home's visual appeal and signaling to prospective buyers that the property has been well-maintained. Let's delve into why these changes are worth considering and how they can provide a solid return on investment.

Giving Your Roof A Much-Needed Makeover
Firstly, an old or worn-out roof can be a significant deterrent for potential buyers. It's one of the first things they notice, and it has a substantial impact on your home's curb appeal. A new roof not only enhances the aesthetic appeal of your house but also sends a strong message to buyers that the property has been well-maintained, assuaging concerns about potential leaks or structural issues. If your roof is visibly old or damaged, investing in a professionally installed roof replacement could substantially increase the marketability of your home, potentially increasing its appeal and its value.

Getting a new roof installed doesn't have to be a hassle. Start by hiring a professional roofing contractor, like Pro Restoration Plus, who can assess your current roof's condition and provide a detailed estimate. It's crucial to choose high-quality, durable materials that match your home's style. Keep in mind that while the initial cost may seem high, the long-term benefits, including increased home value and potential energy savings, make it a worthwhile investment whether you sell your home immediately or just a few years later. Be sure to schedule the roof replacement at a time that minimally disrupts your life, but also consider weather conditions, as roofing jobs require dry, moderate weather.

Kitchen Remodel: A Recipe for Increased Home Value
One of the most profitable improvements you can make to your home before selling is a kitchen remodel. Known as the heart of a home, the kitchen is where meals are prepared, family gatherings take place, and memories are made. An updated and modern kitchen can command a higher asking price because it's a key selling point for many buyers. They're attracted to newer appliances, spacious countertops, ample storage, and an overall aesthetic appeal that makes the space inviting and functional. Upgrading outdated features to modern, energy-efficient models can also lower utility costs, which is another attractive aspect for potential buyers.

Getting your kitchen remodeled, however, requires careful planning. To ensure you're making changes that will increase your home's value, do some research on current kitchen design trends. A timeless, neutral design usually appeals to the broadest range of buyers. Hiring a professional kitchen designer or contractor could also be a wise investment, as they can guide you towards choices that will offer the best return on investment. Remember to consider the overall style and design of your home to ensure the new kitchen complements it well. Lastly, plan your budget carefully. While you want your kitchen to be appealing, it's essential to not over capitalize. Aim for a balance between what you spend and the value it brings to your home.

Enhancing Curb Appeal: Invest in Landscaping
Investing in professional landscaping can significantly enhance your home's curb appeal, making it more attractive to prospective buyers. A well-maintained front yard serves as a visual treat, setting a positive first impression even before buyers step inside your home. It reflects the house's overall care and maintenance, reassuring buyers about the property's condition. Not only does a beautifully landscaped yard make your home more appealing, but it can also increase its value.

Embarking on a landscaping project requires some consideration and planning. Which areas of your yard need attention? It could be needing a manicured lawn, planting blooming flowers, adding a decorative pathway, or even installing outdoor lighting for added security and aesthetic appeal. Hiring a professional landscaper can be beneficial as they have the knowledge and expertise to transform your outdoor space into a captivating one, keeping in mind your home's architectural style and the local climate. If you're on a tight budget, consider cost-effective solutions like adding mulch to garden beds, planting perennial plants that don't require replacement each year, or installing a simple water feature. Remember, the goal is to create an inviting, well-kept outdoor space that potential buyers can envision themselves enjoying.

In conclusion, a well-maintained home sells itself. There's no underestimating the power of first impressions when it comes to selling your home. Buyers are drawn to homes that are not just well-maintained but also exude warmth, functionality, and aesthetic appeal. From giving your roof a much-needed makeover, and modernizing your kitchen, to enhancing your home's curb appeal with professional landscaping, these improve your chances of attracting serious prospective buyers and securing a desirable selling price. Remember, the objective is not just to sell your home but to sell it well. Even if the initial investment might seem substantial, don't forget that these improvements pay for themselves in the long run. After all, a well-loved home is a well-sold home. So, before you put that 'For Sale' sign up, take a good look at your abode and make the changes that will make it a hot property in the housing market.

Learn more at Rismedia.com

Related Links

• 10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today

• How To Find a Good Apartment in a Competitive Market

• Opinion: Why agents are more essential than ever

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today

While buying a home has always been a challenging milestone, today’s high interest rates have made this dream even harder to achieve.

Over the past two years, interest rates on home loans have nearly doubled from the 3% range to around 7% today. This tacks many hundreds extra onto the monthly expense of housing, stretching some homebuyers’ budgets to the breaking point. And while there are ways to lower those costs, navigating the home loan process is extremely complicated—particularly for first-time homebuyers.

“It’s very important for first-timers to do research and understand all their options before they start looking for a home,” says Cara Ameer, a real estate agent with Coldwell Banker who is licensed in California and Florida. “Doing your due diligence can help you avoid some of the most common rookie mistakes, so you come out not only with the home of your dreams, but also a mortgage you can afford.”

Here are some common blunders homebuyers make when attempting to secure a mortgage.

1. Focusing too much on the interest rate

Probably the most common mistake homebuyers make is simply assuming that the lower the interest rate, the better the deal. But what they might not realize is that to get an ultralow rate, there are often hidden fees—and those fees could mean they ultimately end up paying more.

“Many lenders, especially in more recent years, have started to charge hidden points in an effort to advertise a much lower mortgage rate to potential applicants,” warns Jason Gelios, author of “Think Like a Realtor” and a real estate agent with Community Choice Realty in South East Michigan.

“It’s great to have the most attractive rate, but if the lender has you paying junk fees to obtain that rate, it might not make sense,” he adds.

Mortgage points are a fee that lenders can charge to applicants to lower their interest rate through the life of the loan. This process is also known as “buying down the rate,” and the fee is paid to the lender as its own fee.

In other words, “buying down the rate” or “buying points” are just a fancy way of saying you’re paying more fees upfront to get a lower interest rate.

As a result, it’s important for mortgage seekers to ask for an estimate of all fees included in their mortgage offer, and not just the interest rate.

2. Assuming you need a 20% down payment

“There’s a common but detrimental misconception that’s causing some potential first-time owners to delay starting the homebuying process, and that is the belief that it still takes 20% down to buy,” says Cindy Allen, veteran real estate agent and founder of DFWMoves in Southlake, TX.

In reality, according to a new study from Self Financial, the average down payment needed in the U.S. for first-time buyers is $12,274 (around 6%), in addition to $1,983 in closing costs.

“Fannie Mae has had a 3% down, first-time homebuyer mortgage for years now, which competes with FHA’s 3.5% down,” says Yifan Zhang, CEO of the host-to-own homebuying program Loftium. “The only difference is that home prices have risen so much recently that these programs are probably more popular now.”

However, keep in mind that you will have to pay private mortgage insurance if you put less than 20% down, which increases your monthly payments.

3. Assuming you can get a loan instantly

Many borrowers assume that in today’s instant-gratification culture, they can get a mortgage in days or even minutes. Not so.

“Even the mortgage lenders with splashy apps and websites still may need a phone call, manual document collection, or other time-consuming steps,” says Zhang.

In fact, many home tours might be off-limits until you’ve been vetted by a lender.

“Buyers may not be able to even see a home without providing a copy of their pre-approval letter just to schedule an appointment,” says Ameer. “Many listing agents are requiring that, no matter the price range. This is no longer just for high-end properties.”

4. Thinking pre-qualification means you’re approved for the loan

While getting pre-qualified for a loan is a good first step, it does not mean you’re guaranteed the money. Pre-approval is better because it means lenders have reviewed your finances.

In the past, pre-approval was typically enough to pass muster. In today’s ultracompetitive market, however, you might want to get fully approved from the get-go before you make an offer.

“Full approval means the buyer has been underwritten prior to making an offer—they have submitted all of their required documents, the lender has reviewed it and been able to vet them to basically say they are solid and just need to get an accepted offer on a property for the loan to go through,” says Ameer.

Being fully approved also allows buyers to close the deal in a much shorter time—two to three weeks in most cases.

This can give buyers the edge, as Ameer points out, “given today’s tight market with low inventory. Listing agents are going to recommend their seller ask for shorter time periods for loan approval.”

5. Not considering first-time homebuyer programs

Newbies who feel overwhelmed by the financial barriers to homeownership might be pleasantly surprised to learn that there are first-time homebuyer programs to help them get over the hump.

“You can find programs that offer help with closing costs and down payments, lower interest rates, and even tax credits to free up some of your savings,” says Allen. “And if you’re a first responder or educator, active-duty military or veteran, there are often special programs available for you, too.”

For example, Allen says just this past January she was involved in a $352,000 transaction where the buyers were granted over $6,000 toward closing costs and escrow through a first-time buyer program. They were then able to use the $6,000 they saved as additional down payment funds.

6. Failing to check your credit score

You really need to check your credit score prior to talking to mortgage lenders because ultimately, this number—which represents how well you’ve paid off past debts—will affect the interest rate you’re offered.

“Not tackling easy options for improving your credit score before taking out a mortgage is a big mistake for first-time homebuyers,” says Zhang. “Today, there are tons of credit improvement tools you can use to quickly and easily tackle your credit. Even just paying off a credit card can bump you into a higher credit category and save you hundreds each month on your mortgage.”

At the very least, make sure you know what your score is by checking it with CreditKarma.com or one of the top three ratings bureaus: TransUnion, Experian, and Equifax.

7. Picking the wrong type of loan

Are you better off going with an FHA, VA, or USDA loan or some other type entirely? Don’t know what these acronyms mean? There are many types of mortgages available, each with its own pros and cons based on your own personal circumstances.

“Know your loan options because an inexperienced loan representative may not know all the available programs or may not present all the possibilities,” says attorney Bruce Ailion, a real estate agent with Re/Max Town & Country, Atlanta. “Learn about the types of loans before talking with a professional to know the right questions to ask.”

8. Underestimating fees beyond the down payment

The down payment is not the only cost you’ll have when buying a home and securing a mortgage.

“People talk about the down payment required but rarely talk about the ancillary costs required for purchasing a home like closing costs, title, appraisal, and first-year homeowners insurance upfront,” says Nicole Rueth, senior vice president and producing branch manager, The Rueth Team of Fairway Independent Mortgage Corp. “It’s a mistake not to factor these in, because they can add up to an additional $5,000 to $12,000 down.”

9. Not preparing for the possibility of a low appraisal

Before lenders front the money for a house, they will have an independent home appraiser estimate its value. Many first-time buyers don’t realize that with listing prices so high, it’s entirely possible that their appraisal will come in lower, which means the lender will loan only that much.

“Given the rapidly rising asking prices and multiple-offer scenarios going on, it is quite possible that a property may not appraise at the agreed upon contract sales price. But a bank is only going to base their loan amount off of the appraised price, not what a buyer and seller agreed to pay,” says Ameer. “Buyers may not be able to come up with the cash to cover the difference between the appraised value and the contract sales price, so only offer what you know you can cover out of pocket should that happen.”

10. Not shopping around for the right lender

Not all lenders are created equal and work the same way. That’s why you really should shop around and find someone you trust who will pick up the phone when you call.

“In today’s market, it is imperative that you work with someone reputable who is reachable by cellphone seven days a week, because various questions and scenarios will come up as you embark on your property search and you may need some guidance that is crucial to having the winning offer,” says Ameer. “These situations often happen outside of typical office hours.”

This is one reason real estate agents typically prefer to use local lenders because they are accessible and reliable.

“Local lenders have a proven track record to maintain and value not just the client but the Realtor relationships they work hard to create,” says Kim Jungles, a loan officer with Atlantic Coast Mortgage in Ashburn, VA. “Online lenders for the most part are very difficult to speak with, let alone be available to write a pre-approval letter after 5 p.m. on Friday.”

Learn more at Realtor.com

Related Links

• How HOA Fees Work in New-Construction Communities: What To Expect

• How To Find a Good Apartment in a Competitive Market

• Opinion: Why agents are more essential than ever

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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As Featured in West + Main Home Magazine: Creating Outdoor Elegance

West + Main Agent Tait DeBaca

“When my client Deanna and her family moved into their new home, they were immediately struck by the potential of their backyard”

— Tait DeBaca

"The existing patio had low ceilings, a sloped deck with no stair access, and overgrown landscaping made up of old building materials and weeds. Deanna and her family had previously created a wonderful outdoor space at their old house and knew the value it could bring to their family. Inspired by the desire for more livable space, they embarked on a project to transform their backyard into a functional and inviting oasis."

Deanna ranked the difficulty of their project as "DIY if you dare," as some aspects required professional expertise while others were done by themselves. The deck portion, for example, required a weather-tight system and was completed by a qualified contractor team from Freedom Construction, recommended by friends. The layout and ideas for the project were provided by Deanna, and she and her family also hired out some of the landscaping work. However, they took on other tasks themselves, such as the earth prep, sodding, and installing the brick garden border.

"They wanted to maintain a cohesive, contemporary look throughout their home, so they decided to paint the brick white to match the upper portion of the house," said Tait. "They carried the black, white, and natural wood tones from the interior to the exterior, creating a theme of casual modern comfort. Collaboration with their contractors from Freedom Construction led to some changes in the original design, such as extending the deck further and adapting the stair design for better functionality and visual interest."

The total budget for the project was $95,000. The deck, including demolition, plans/engineering, and construction, accounted for $65,000. The landscaping work cost $15,000, which included work on the front yard as well. The hot tub, including the concrete slab, was $11,000, and the patio furniture, purchased from Article and Ballard Designs, totaled $4,000. 

Some items, such as the deck railing, were sourced from the internet to save on costs. They also found some items, such as the Adirondack chairs and old chest table, through Craigslist and added DIY casters for a personalized touch. The large flower pots were another Craigslist find with the help of a friend, and the aspen stump side table was a free find from a family member's tree removal in Telluride. Arnold, the French bulldog, was a rescue find that added even more joy to the completed project!

Deanna's favorite part of the finished project? Everything. The additional living space allows them to host gatherings, watch movies and sports on the outdoor TV, enjoy relaxation with a cigar and bourbon in the Adirondack chairs, roast marshmallows on the fire pit, or simply lounge in the sun on the deck.

Deanna's advice for others considering a similar project is not to rush into it. Living in the space for a while before starting the project allowed them to truly understand the potential of the area and develop a list of must-haves based on their needs and lifestyle!

Related Links

• As Featured in West + Main Home Magazine: What’s Old is New

• As Featured in West + Main Home Magazine: Paving the Way for Outdoor Bliss

• As Featured in West + Main Home Magazine: From Dream to Reality

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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As Featured in West + Main Home Magazine: Transforming a Mountain Home

West + Main Agent Jen Hutto

When West + Main agent Jen Hutto's family decided to move to Vail, they were initially planning to rent due to the lack of options in their price range. However, fate had something else in store for them when Jen stumbled upon a townhome that had been sitting on the market for over 90 days. Intrigued, she wondered what could possibly be wrong with it. Little did she know, this would be the beginning of an enormous undertaking that would result in a stunning mountain modern home and would appeal to everyone for resale value.

The location of the townhome was undeniably amazing, with breathtaking views of the surrounding mountains. However, Jen soon realized that the project would not be easy. "The difficulty of the project was definitely up there," Jen explained. "We needed a lot of help determining what was load bearing and what wasn't so we could remove some cabinets and walls to open up the space."

For the design process, Jen had a clear vision in mind. "I knew I wanted mountain modern, more on the modern side," she said. "I had done more modern farmhouse style in the past, but I knew that wouldn't work up in the mountains. I wanted to do something that would appeal to everyone for resale value." She opted for a monochromatic color scheme, mostly black and white with wood tones and metal accents, to create a sleek and contemporary look.

Despite the challenges, progress was relatively fast in most areas of the renovation. Flooring took just a few days, bathrooms were completed in a week, and even the kitchen installation was swift. However, the biggest hurdle came with the stairs.

“Those were a massive undertaking, and all the steel was welded on site, so it took several months and was definitely messy,” Jen recalled. “But it turned the old eyesore into a huge statement piece of the house.
”

— Jen Hutto

The budget for the project started around $100-150k, but it quickly exceeded expectations. "The most expensive items were the flooring, bathrooms, and the stairs," Jen said. "Those items amounted to over half of the total cost. Paint was also a big item, as we had to paint the entire house, including all the ceilings. Our paint color, Sherman Williams Pure White, really helped bring in tons of light to the space."

Despite the challenges and increased budget, Jen's favorite part of the project is the living room. "The white oak floors and the white wood ceiling, along with the dark metal look fireplace, really help create a calming environment where you can hang out and enjoy the gorgeous ski slope views," she said.

In the end, Jen's hard work and determination paid off, and the townhome was transformed into a stunning mountain modern masterpiece. It just goes to show that with the right vision, a little creativity, and some perseverance, even a challenging renovation project can result in a breathtaking home that exceeds all expectations. Jen's family now has a beautiful place to call home in Vail, and her success as a West + Main agent continues to shine.

Related Links

• As Featured in West + Main Home Magazine: What’s Old is New Again

• As Featured in West + Main Home Magazine: Paving the Way for Outdoor Bliss

• As Featured in West + Main Home Magazine: From Dream to Reality

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Things to Consider Before Finishing Your Basement

Are you planning on finishing your basement?

Finishing a basement is a fantastic way to expand your living space and increase the value of your home. Whether you plan to create a cozy family room, a home theater, a guest suite, or even a home office, a finished basement can be a valuable addition to your property. 

However, before you embark on this exciting home improvement project, there are essential factors to consider, with one of the most critical being installing legal egress windows. We will examine all of the essential considerations before finishing a basement.

The Importance of Legal Egress Windows
Before diving into the planning and design aspects of finishing your basement, it's crucial to address egress window requirements in basements. Egress windows are emergency exits designed to provide safe and easy escape routes in case of a fire or other emergencies. 

They are mandatory for all finished basements to ensure the safety of occupants and are governed by specific requirements outlined by building codes. Maximum Real Estate Exposure is an insightful resource, but we will summarize the essential requirements.

Requirements for Egress Windows
Egress window requirements in basements typically include:

• Minimum Size: Egress windows must meet minimum size requirements to allow easy exit and entry. In most areas, the window opening should be at least 5.7 square feet, with a minimum height of 24 inches and a minimum width of 20 inches.

• Maximum Height from Floor: The bottom of the egress window opening should be no more than 44 inches from the finished floor.

• Unobstructed Access: The window well, if present, should provide unobstructed access to the window. It should be at least 36 inches wide and 36 inches in projection. Grates or covers should be easily removable from the inside without special tools.

• Proper Ladder or Steps: If the window well depth exceeds 44 inches, a permanent ladder or steps must be installed to allow easy access.

• Approved Window Type: The window must be hinged, sliding, or of another approved type, allowing a quick and unobstructed exit.

• Adequate Light and Ventilation: The egress window should provide enough natural light and ventilation to the basement. It's critical to ensure the space is habitable and meets safety standards.

Meeting these egress window requirements is essential for safety and compliance with local building codes. Failure to adhere to these regulations can delay obtaining necessary permits and may lead to costly renovations if the basement does not meet code requirements.

Other Considerations Before Finishing Your Basement
Now that we've addressed the critical aspect of egress window requirements, let's explore other vital considerations before finishing your basement:

Moisture Control
Basements are notorious for being damp and prone to moisture issues. Before finishing the space, addressing any water leakage problems, ensuring proper drainage, and considering waterproofing solutions are essential. 

Moisture control prevents mold growth, protects investment, and creates a healthy living environment.

Insulation and HVAC
Proper insulation is vital for maintaining a comfortable temperature in your finished basement. Ensure the insulation is correctly installed to prevent heat loss in winter and heat gain in summer. 

Additionally, consider extending your home's HVAC system to the basement to regulate temperature and humidity effectively.

Speaking with a qualified HVAC technician is essential. When you add significant square footage, you must ensure the heating system is appropriately sized.

Electrical and Plumbing
Plan your electrical and plumbing layouts carefully. Adequate electrical outlets, lighting, and plumbing fixtures are essential for functionality. 

Consult with a professional electrician and plumber to ensure compliance with local codes and safety standards.

Permits and Codes
Obtaining the necessary permits and adhering to local building codes are non-negotiable steps in finishing a basement. 

Failure to do so can lead to fines and complications when selling your home. Consult your local building department to understand the permitting process and code requirements.

In my experience as a Realtor for the past three decades, I often see people finishing basements without permits. Most do so to avoid paying additional real estate taxes. Others do it out of pure laziness.

It doesn't matter the reason. It will likely bite you with significant stress when you sell your home. Make sure you pull permits!

One additional essential aspect concerns your septic system. If you add bedrooms to your basement, your local community may require you to upgrade the system.

Design and Layout
Consider the purpose of your finished basement and create a detailed floor plan that optimizes the use of space. 

Consider factors such as the location of egress windows, storage options, and any specific design preferences you have. There are many creative options for finishing a basement.

Budget and Contingency
Establish a realistic budget for your basement finishing project, including a contingency fund for unexpected expenses. Basement renovations often uncover unforeseen issues like outdated wiring or structural problems, so it's wise to be prepared.

The cost of finishing a basement can be significant, depending on what you do. However, it is almost always an addition with a great return on investment.

Many home buyers love having the additional space for multiple uses, whether it is an in-law suite or a place for teenagers to hang out.

You can ask a real estate agent to provide a comparative market analysis with and without. You'll then have an excellent idea of how much value it has added.

Lighting and Ventilation
Basements can be naturally darker than other parts of your home. Plan for adequate natural and artificial lighting to create an inviting and functional space. 

Ensure proper ventilation to prevent stale air and maintain air quality. These are two essential considerations when finishing a basement. Lack of adequate lighting makes for a less desirable space.

Ventilation issues create a moldy smell that nobody will enjoy.

Flooring and Finishes
Select flooring materials that are suitable for basement conditions. Options like vinyl, laminate, and engineered wood are often preferred due to their moisture resistance. Choose finishes that are both durable and aesthetically pleasing.

Final Thoughts
Finishing a basement is a rewarding project that can enhance your home's living space and value. However, it's essential to prioritize safety by meeting egress window requirements in basements. 

Additionally, consider factors like moisture control, insulation, electrical and plumbing needs, permits and codes, design, budget, lighting, and ventilation to ensure a successful and comfortable basement renovation. 

By carefully planning and addressing these considerations, you can transform your basement into a functional and enjoyable space for your family and guests.

Learn more at Rismedia.com

Related Links

• How HOA Fees Work in New-Construction Communities: What To Expect

• How To Find a Good Apartment in a Competitive Market

• Opinion: Why agents are more essential than ever

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Search homes in Minnesota