6 Ways to Improve Property Value

1. Clean and declutter the property.   

Let's get it straight — no one likes to buy a property that looks like a tornado just swept through it. Potential buyers are inclined toward a neat and clean property as it makes it easier to imagine themselves living there. 

So, as a good agent, it's your job to consider increasing your client’s property value. In that case, you must start by helping your client clean and declutter the space before initiating any expensive renovations or redesigns.  

Start by going through each room with your client and disposing of anything that's no longer needed, functional, or utilized. Then, organize things in baskets or cabinets to keep everything in its place. It will make the property look more modern and simplify it so potential purchasers can see the space and see whether their belongings fit.  

Tips for decluttering and organizing. 

Cleaning and organizing can be daunting, but it's essential to prepare your client’s property for sale. Here are valuable tips you can share with your clients to help them efficiently organize their property: 

• The Three-Box Method.  Use the three-box method — "Keep," "Toss," and "Donate" —when decluttering. Keep the crucial things, toss the unnecessary stuff, and donate those things others can use. It will help you sort through your belongings quickly and make the decluttering process less overwhelming. 

• The KonMari Method.  The KonMari method, made famous by Marie Kondo, is enjoyable and highly effective in decluttering and bringing order to your property. Gather your things in one place, then go through each item and ask if it sparks joy. If the item no longer brings value or pleasure, it's time to bid farewell. 

• Label Everything.  Once you've organized everything, label it. It will make finding the new families' needs easier and impress buyers with your attention to detail. 

• Use Underutilized Spaces.  Look for non-utilized spaces in your property. Places under the stairs or in a spare closet can all be transformed into storage areas. Use shelves, racks, or cabinets to maximize the space and keep things organized. 

• Use Stylish Storage Solutions.  Storage doesn't have to be boring. You can buy colorful baskets or unique shelving to add character to your property while keeping it organized. 

2. Enhance curb appeal. 

The importance of a good first impression cannot be overstated — especially when selling a house after recently buying it. The first impression your client’s property makes sets the tone for the rest of the buyer's visit, and it can influence the buyer’s decision to make a bold offer. 

Most potential buyers form opinions about a property within the first few seconds of arrival. It means that the curb appeal of the exterior of your client’s property, including the landscaping and the front door, is crucial in creating a lasting impression.    

According to research by Alex X. Niemiera, a horticulturist at Virginia Tech, a well-landscaped home can have a 5.5-12.7% price advantage over a house with no landscaping. That means your client’s $300,000 property could see a value increase of $16,500 to $38,100! 

But what makes a well-landscaped home? According to Niemiera, buyers first go for a sophisticated design look. As a real estate agent, you can help your client provide a cohesive look that complements their property's style and architecture.

Additionally, utilizing an online invoice management system can help you and your client keep track of any expenses incurred during decluttering, organizing, and cleaning, ensuring accurate record-keeping and simplifying financial management.

Tips for enhancing curb appeal. 

Here are some tips you as real estate agents can share with your clients to help elevate the property's curb appeal and make it stand out: 

• Landscaping.  Start with landscaping, adding flowers, plants, and trees that perfectly complement your property's architecture and style. 

• Exterior Repairs.  Repair any cracks or damage to your driveway or walkway, and update your mailbox and house numbers. Bring new life to your property's exterior by opting for a fresh coat of paint in a timeless color, a simple yet impactful choice, especially if it has been a while since the last paint application. 

• Lighting.  You can install landscape lighting to highlight your landscaping and architectural features. By doing so, you can add stylish and functional outdoor lighting fixtures. 

• Front Door.  Try painting your front door a bold color. You can also add some decorative hardware to make your centerpiece a statement.  

• Outdoor Seating.  Remember to create an inviting outdoor space with comfortable seating, such as a bench or chair.  

3. Upgrade the kitchen. 

Investing in kitchen upgrades is a foolproof approach to elevating the value of your client’s property. According to research by Remodeling Magazine, a minor kitchen remodel can have an average return on investment of 81.1%. Similarly, significant kitchen remodeling can have an average return of 59%. 

But why is a modern and functional kitchen so important? Besides the obvious fact that we spend a lot of time in the kitchen, it's also one key area that potential buyers scrutinize when viewing your property. A cramped kitchen can be a significant turnoff, while a modern and functional kitchen can be a central selling point. 

So as a real estate agent, it is crucial to make sure you and your clients consider the average cost when planning a kitchen remodel, which generally involves a budget of $20,000 or higher. 

Tips for upgrading the kitchen. 

Your client doesn't have to spend their last dime to create a modern and functional kitchen. Being a real estate agent, you have to secure your margins as well!    

For example, simple upgrades like replacing outdated appliances, adding a fresh coat of paint, and swapping out hardware can make a big difference.  

The following are some practical tips you can share with your seller clients to help them upgrade their kitchens and transform them into masterpieces: 

• Replace Old Cabinets.  Updating your kitchen entails replacing the old, worn-out, and outdated cabinets with a fresh supply. You can shop for cabinets online to replace the old ones with new modern ones and enhance the look and feel of your kitchen. 

• Modernize Appliances.  Old, outdated appliances can make a kitchen feel drab and uninviting. Replace them with modern energy-efficient appliances that add value to your property.  

• Countertops.  Investing in high-quality countertops like durable granite or quartz enhances your kitchen's functionality. These kitchen countertops are not only easy to maintain but also serve as a worthwhile investment. 

• Add Decorative Lighting.  Update your kitchen's old and malfunctioning light fixtures. Add strip lights under the cabinet to create a warm and inviting atmosphere. 

• Backsplash.  A stylish and modern backsplash with glass, stone, or tile can add visual interest to your kitchen.  

4. Renovate bathrooms. 

A dingy or outdated bathroom can be a major repellant and a buyer turnoff. Picture a bathroom with faucets that constantly leak, showers that fail to function correctly, limited storage space, and insufficient lighting. No wonder it’s a major turnoff for potential buyers, right? A poorly designed bathroom can lower the value of your client’s property. 

To circumvent this price deflation, ask your client if they’re interested in a bathroom renovation. Investing in a beautifully decorated and meticulously designed bathroom will enhance the visual appeal of their property and will add significant value to it. 

They can get started by adding new fixtures, faucets, showers, and fittings. Good lighting, ventilation, and soundproofing will create a comfortable and soothing environment. Additionally, adding luxurious features like heated floors and rain shower heads can make their bathroom feel like a personal oasis.  

Tips for renovating bathrooms.  

Listed below are some creative tips about bathroom renovations you can share with your clients that will turn their bathrooms into a luxurious oasis: 

• Go for Unique Fixtures.  Swap out basic fixtures like faucets, showerheads, and towel bars. Consider options like a statement sink or a showerhead with a unique shape or finish to add a touch of aesthetics. 

• Choose Bold Tiles.  If you want to update your bathroom's tile, bold and colorful options can be a good go. You can also create a unique pattern with a monochromatic look.  

• Create a Focal Point.  Adding a statement piece to your bathroom, like a clawfoot tub or a modern freestanding tub, can assemble a focal point that draws the eye and adds personality to the space. 

• Add Storage.  If your bathroom needs to be more spacious, install built-in shelves or cabinets that fit your space and style. A storage tower or floating shelves can also do the job and give a unique touch while maximizing space. 

• Go for a Unique Vanity.  You can choose a custom-built vanity with interesting materials or a modern floating vanity with an unusual shape to add a personalized touch to the bathroom. 

• Use Mirrors.  Mirrors are a great option to enhance the value of space and style.

5. Add square footage. 

If your client’s home has small rooms and narrow passageways, you may question whether you'll ever be able to sell the property at a higher price while maintaining your client’s profit margins. However, there's no need to worry! Your client can easily increase the square footage of their property and get rid of that claustrophobic feeling.   

Expanding a living area can substantially impact a property’s overall ambiance, attractiveness, and value. This can be accomplished by incorporating extra square footage. Adding square footage creates a more comfortable and stylish living space, making it a wise investment to increase the property's value before listing it for sale. 

Tips for adding square footage. 

Adding square footage to a property can be significant, but the outcomes can be worth the investment. Have your client use a home renovation checklist and follow these creative tips for adding square footage to their property effortlessly: 

• Finish the Basement.  A finished basement can add significant living space to your home. You can place carpet or flooring, add insulation, or paint the walls to create a cozy and comfortable basement. 

• Convert the Attic.  Converting your attic into a livable space is another excellent way to add square footage to your home.  

• Add a Room Over the Garage.  Transform the space above your flat-roofed garage into a functional room, effectively creating extra living space within your home.  

• Build a Sunroom.  You can create a sunroom by adding plenty of windows and skylights to welcome natural light and create a bright and cheerful space. You can even get a solar panel to maximize the benefits from the sunlight. 

6. Paint and refresh.  

Your client can give their property a well-deserved makeover through painting, allowing it to exude a vibrant and rejuvenated presence. A fresh coat of paint does the job for their property’s appearance, inside and out. It can revive old walls, instantly brighten a space, breathe new life, and increase its value — the benefits of painting a home go beyond this! 

Paint positively impacts mood and overall well-being. A freshly painted room can create a sense of tranquility and relaxation, offering an idyllic retreat to recharge and decompress after a busy day. It can also protect your walls from damage and wear and tear, extending the lifespan of your home's interior and exterior.  

Tips for painting and refreshing the property. 

Painting is not just about slapping on a new color — it's about creating a cohesive and inviting space with which potential buyers will fall in love.  

So, here are some creative tips you can share with your clients to help them grab a brush and start painting their way to a luxurious home today: 

• Choose the Right Colors.  Neutral colors like beige, gray, and white are always safe when painting your home. This color palette creates a clean, timeless look that appeals to many buyers. However, you can also add a pop of color to make a statement wall or add interest to a room — it all depends upon choices. 

• Don't Forget About the Trim.  Besides painting walls, remember to paint your trim and doors to adorn your room well. A different color than your walls would create contrast and add visual interest. 

• Refresh Your Cabinets.  If your cabinets look outdated or worn out, consider giving them a fresh coat of paint, or removing paint entirely. Refreshing the cupboards, cabinets, and racks with a new color splash can create an aesthetic appeal. 

• Update Your Fixtures.  Swapping out old light fixtures and hardware for new, modern options can instantly refresh the look of your home. You can update faucets, doorknobs, and light fixtures for a more cohesive and polished look. 

Conclusion: selling your way to maximize profits! 

Helping your client to upgrade, improve, and renovate their property can increase the chances of attracting potential buyers — and the probability of securing a higher selling price. 

Several ways exist to enhance a property's value, from simple tasks like renewing paint or decluttering space to more extensive renovations like upgrading kitchens and bathrooms. Investing in landscaping, cleaning up the curb appeal, and updating the property's energy efficiency can make it more attractive to buyers.  

These renovation projects will accentuate your space and generally take its value up a notch. The time is ripe to make your client’s property shine and leave a lasting impression. 

Sophia Baddeley - Guest Writer and creator of Delightfully Noted  

These Are the "Must-Have" Home Features of 2022

At the start of the COVID-19 pandemic, the hottest home amenity seemed to be extra square footage for an office, a home gym, and a place where the kids could attend virtual classes if their schools went remote. Families clamored for yards large enough to safely entertain in, and suddenly swimming pools exploded in popularity. Location no longer mattered quite as much, as many of those who could work remotely were willing to move farther and farther away from the larger cities to get everything on their home wish lists.

However, what buyers want now is more "flexible" space.Record-high home prices and rising mortgage rates, coupled with the return to the office, even if only a few days a week, are prompting buyers to prioritize locations closer to their jobs that they can afford—instead of what’s bigger and better, say real estate experts. Many are making do with smaller homes within their budgets featuring square footage that can be used in a multitude of ways.

“In 2021, space was the housing story followed by affordability,” Ali Wolf, chief economist at Zonda, a homebuilding consulting company, tells Realtor.com. “In 2022, affordability is the lead story followed by space.”

Homebuyers, particularly first-timers, still want large kitchens, designated offices, and outdoor spaces they can enjoy in 2022, according to a recent survey by Zonda. However, many will have to align their expectations with finances. That can mean forgoing that extra square footage to become homeowners.

“Interest is and will remain strong for the most affordable homes in any market as first-time buyers, investors, and cost-constrained shoppers compete for the same homes,” says Wolf. Circumstances “will force some buyers to make compromises.”

Nationally, home prices rose sharply during the pandemic, hitting a high of $385,000 in June and July of 2021—an 18.5% increase in median list prices from June 2019 in the pre-COVID-19 days, according to Realtor.com data. Plus, the 30-year fixed-rate mortgage averaged 3.45% for the week ending Jan. 13, up nearly a quarter of a percentage point from the previous week, Freddie Mac reported on Thursday. It’s the highest average rate since March 2020.

Flexible space helps buyers maximize tight square footage

Those who can’t afford to purchase thousands of square feet are expected to seek out rooms that can be used in a multitude of ways, says designer Caroline Danielson, director of showrooms at Newport, VA–based Ferguson Bath, Kitchen & Lighting Gallery. She anticipates this will be the top design trend of the year.

“A kitchen is more than a room to cook, a mudroom isn’t just a catchall for dirty clothes, and a den is becoming more than just a place to watch movies,” says Danielson. Her clients are choosing design options to make their kitchens look more like a living space with built-in appliances instead of traditional stainless steel so residents can easily hop on video work calls.

“A kitchen-turned-home office can be made multifunctional by adding a refrigerator drawer or built-in coffee maker so that the appliances seamlessly blend in [with design and layout] and are easily accessible throughout the day,” she adds.

Other suggestions include installing a Murphy bed in a guest room so that it can be used as an office or even a workout room as well.

“Some of our homeowners report turning a mudroom as a transition space to keep germs out of the home complete with laundry and shower space. This is particularly great for homeowners in the medical field,” Danielson explains.

Townhomes are becoming more appealing for cash-strapped buyers

As a result of a historic shortage of stand-alone, single-family houses (the kind with the yards in front and back) along with their high price tags, townhomes are becoming more appealing.

“Stand-alone houses that come onto the market in good condition in desirable areas are typically priced high with bidding wars driving prices up even further,” says Robert Dietz, chief economist of the National Association of Home Builders. “But townhomes, which may or may not have yards and can be smaller than single-family homes, can provide a way into homeownership for first-time buyers.”

Builders are taking note. Townhouse construction jumped 38% through the third quarter of 2021, according to NAHB. To compare, construction on stand-alone, single-family homes grew just 23% during the same time period.

While it can be difficult for builders financially to put up more entry-level, stand-alone homes for first-time and other cash-strapped buyers, townhomes are one way to do it. These homes, typically connected to one another, usually don’t require as much land, making it easier to put up more units in heavily populated areas.

“They can be more affordable because a smaller share of the homebuyer’s budget is required to purchase the lot, as single-family, attached homes require a smaller amount of land. Additionally, first-time buyers are often younger, and younger households report an increased demand for walkable neighborhoods that are convenient to retail and community services,” Dietz says.

Hybrid work—instead of fully remote jobs—now affect the housing market

With some workers now weaned off of a solely remote work schedule and onto a hybrid model, buyers are concerned about proximity to their jobs again. Some are more hesitant to go as far into the outer suburbs, now that they have to trek to the office at least some of the time, as they may have considered in early 2020.

NAHB anticipates that up to 40% of the American workforce will work three days in an office and two days at home, with a two-day weekend. That will save folks time as well as commuting costs, which can be steep in some more expensive parts of the country.

“They can live farther from urban cores, gaining more bang for the buck for housing,” says Dietz.

Homebuilding in the outer suburbs of small and large metro areas with easy commuting times to offices increased from 17.3% in the fourth quarter of 2019 to 18.3% in the fourth quarter of 2021, according to NAHB data. Meanwhile, apartment construction fell in large metropolitan areas over the same period, while it rose in the outer-ring suburbs.“The great migration to the suburbs or to the country is down to a trickle,” says New York City real estate broker Sheila Trichter, who’s with Coldwell Banker Warburg. “City people are unlikely to leave the city if they have not already done so, and a lot of those who left are coming back. I don’t think they are running away from COVID any longer.”

Source: Realtor.com by Jeanette Settembre

Buy Before You Sell with Howard Hanna Mortgage

In today’s competitive real estate market, you may be worried about selling your home. You may be thinking: if it sells quickly, you won’t have enough time to find and buy a house that’s right for you. Plus, between staging your home, creating great curb appeal, and finding the right real estate agent, there are a lot of tasks to tackle involved in selling a house. Add finding and purchasing a new house on top of that, and it’s a recipe for stress!

At Howard Hanna, we strive to make the home buying and selling process simple for you. Our one-stop shopping is convenient for everyone, including sellers who are also looking to buy.

Buy Before You Sell

When you list a home for sale with Howard Hanna, one of our exclusive one-stop shopping programs available is “Buy Before You Sell,” which lets you take the equity in your current home and apply it towards the down payment of a new home. It’s among our most popular programs because enrollment can be renewed if needed and initially includes deferred interest payments on the mortgage. By using the “Buy Before You Sell” program, you can use the value of your current home to invest in your preferred home!

If you’re trying to figure out if you should sell before you buy – or vice versa – we have some tips on how to buy a house before selling yours!

Advantages of our Buy Before You Sell program:

1. You can buy a house before you selling yours.
2. You can take advantage of today’s low mortgage interest rates and potentially get better terms for the home you are buying.
3. You can move without worrying about the logistical issues of moving out of one property and into the new one on the same day.
4. Once you’ve found your new home, the home you are selling can be staged without having to overly disrupt your life.
5. We can also more easily show potential buyers your home, allowing more buyers to see your home than if you were still living in it.
6. Our program produces more buyers who can buy your home by removing the need for a contingent offer.

See more advantages of the Howard Hanna Buy Before You Sell program on our blog.

Buy your next home with confidence.

Wondering if you should sell your home before buying? It’s important to be able to buy with confidence, even before a current home is sold. It doesn’t matter if you’re looking to upgrade, right-size, switch school districts, or just enjoy a change of scenery, our “Buy Before You Sell” program covers it all!

• Our program provides down payment funds for your next home purchase
• Our program eliminates home sale contingency
• Payments can be deferred for qualified home buyers

We’ve been taking the hassle out of the home buying and selling process for decades, and our mortgage professionals are here to help explain our loan programs. We make home ownership accessible and affordable, allowing you to take advantage of today’s low interest rates.

Don’t wait to act on the home you want, buy before you sell!

Do you live in New York state? Learn more about the 1st Priority Buy Before You Sell program here.

 

NMLS# 101561. Restrictions apply. Advanced Equity Loan must be in 1st or 2nd lien position. Offer of credit is subject to credit approval. Contact Howard Hanna Mortgage Services for mortgage products and eligibility. Howard Hanna Mortgage Services is licensed by: The Pennsylvania Department of Banking and Securities as a Mortgage Lender – License number 21415. The Ohio Department of Commerce – Division of Financial Institutions – License number RM.804531.000. The Michigan Department of Licensing and Regulatory Affairs, Office of Financial and Insurance Regulation, First Mortgage Broker/Lender License number FL0022570, Second Mortgage Lender Registration number SR0022571. The West Virginia Division of Banking – License number ML-20884. Howard Hanna Mortgage Services is registered to do business in Pennsylvania, Ohio, Michigan and West Virginia. Contact a Howard Hanna Mortgage Loan Originator for full details.  PA (800) 474-4437, 1000 Gamma Drive – Pittsburgh, PA 15238. OH and MI – (800) 589-1118, 6000 Parkland Blvd. – Mayfield Hts., OH 44124. mortgage@howardhanna.com.

Selling Your Home When You Have Pets

They say a pet makes a house a home, and we couldn’t agree more! Having a fluffy friend or a scaly pal to spend time with can be incredibly rewarding and make home life that much more fulfilling. But here’s the sad truth: As much as you love your pets, other people probably don’t! If you’re planning to sell your house, knowing what to do with your animal friends is critical.

You don’t have to have an aggressive dog or a giant snake to keep potential buyers from seeing the promise of your home. As many as 15% of people have allergies to various pets, and many more people have phobias of different animals. Some people are just uncomfortable around animals for various reasons. Is it worth losing a buyer over something so easily remedied? 

There are two major considerations regarding pets and selling a house: What to do with your home to repair any damage caused by your pet, and how to handle your pets while the house is on the market. We’ll explore both issues and help you make your home as buyer-friendly as possible without sacrificing quality of life for your pets.

Selling a House With Pets: Cleaning & Repairing

Even if you keep your home meticulously clean, pet smells or damage can add up over time. Potential buyers will want to envision themselves in your home – not you and your pets! Taking the time to remove all signs of pets is well worth it when selling your house, and can often be addressed while carrying out other sale-related home repairs and upgrades.

Make sure you pay special attention to these factors:

• Eliminate pet odor. Deep clean your carpets and upholstery, consider air fresheners, and keep areas where pets live free from unpleasant smells.
• Inspect floors for signs of pet damage. In addition to odors, pets can damage flooring. Whether it’s shabby carpet or scratches on hardwood, ensure it’s fixed and in good shape!
• Clean window treatments & furnishings. One area that can absorb odor (or show damage) is your home’s furniture and curtains. Take the time to repair or replace items that have seen better days.
• Make windows sparkle. Ensure you’ve fixed any pet-damaged windowscreens and removed any doggy noseprints from your windows.
• Check baseboards and molding. Excitable and curious pets may have damaged baseboards, doorway molding, and more. Make sure it’s repaired and looks nice!
• Hide beds & toys. Just like you’d keep kids’ toys out of the way when your house is on the market, you’ll want to stash your pets’ toys and beds as well. Consider designating a bin as a “toybox” that you can easily whisk away during showings.
• Keep habitats, litterboxes, and food clean. Ensure that any areas that pets use stay neat and tidy while your home is listed for sale.
• Take care of outdoor spaces. If you have a pet that spends time outdoors, make sure you’re cleaning up after them regularly. Patch any bare spots in your lawn with soil and grass seed if necessary, and make landscaping touch-ups as-needed. 

What to Do With Pets During Home Showings

The next thing to think about if you have pets is what you’ll do with them during showings! You have a few options, but some are more ideal than others. The worst thing you can do is let a pet roam free during showings – your otherwise calm cat may dislike having strangers in the home, for example.

Relocate Your Pet

If you have the option, consider relocating your pet for the entire period that your home is on the market. A family member may be able to take them for a few weeks, or you might consider boarding them. Not only will this help during showings, you’ll also be able to keep your home much cleaner without your pet there.

Head Out of the House

If it’s not feasible to have your pet out of the house entirely, at least try to ensure your pet isn’t home during house showings. If you have a dog, you might find a dog-friendly cafe or park nearby to hang out in. For cats and other critters, camping out in an air-conditioned car may not be fun, but it will keep buyers from being surprised by your pets.

Crated Inside or Outside Your Home

If you have a suitable space outside (like a dog run or a bird aviary) you may be able to have your pets outside during a showing. Other out-of-the-way places like basements or garages may be suitable for a pet in a crate or other habitat. 

Ideally, you’ll be able to secure pets in a familiar habitat or crate. If possible, work with your pets to acclimate them to these spaces in advance of listing your home. 

However, don’t stash pets inside closets or other small spaces – buyers will expect to look through these areas, and being surprised by a pet isn’t a great way to end a house tour. 

Selling Your Home When You Have Pets

While putting your house on the market with pets can be a little more challenging, it’s very doable! After all, every home needs some TLC to look extra-nice when buyers are taking tours. So, just make sure you pay special attention to areas where pets have had an impact, and ensure you’re keeping your loved ones safe during showings!

Looking to list your home this year? Look no further than the local real estate experts at Howard Hanna! Find a real estate professional near you.