Downsizing your home can be a loaded decision. We spend so much of our lives upgrading our careers, cars and homes that downsizing can feel counterintuitive. Moving to a smaller home can be really beneficial for some families, especially families who have raised their children and are ready to live as empty nesters. Here are five things to think about before you consider downsizing. Continue reading
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There are typical costs that are associated with selling a home in Prince William County – everything from administrative fees and taxes to real estate commission. One closing cost item that sellers tend to have questions about is the Congestion Relief Fee (also known as the Grantor’s Tax). Sellers want to know “What is the Congestion Relief Fee?”, “How is it calculated?” and “Does it impact me?” Let’s take a look into each question. Continue reading
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There is a common misconception in the real estate world regarding condominiums. Most people associate the word condominium with apartment buildings. However, the word condominium actually refers to a form of real estate ownership, not the construction layout or design of the home. Let me explain. Continue reading
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Now that those holiday decorations are put away, it’s time to perform your winter house maintenance checkup. Performing a yearly winter home maintenance check-up can help prevent costly repair bills, make your home safer and lower energy bills. No one wants to be stuck without heat during frigid temperatures due to a faulty furnace. The following winter maintenance check-up guidelines can help you prepare your home for the cold winter months. Continue reading
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As a realtor, I completely understand your attachment to your home. It may be the very spot where you got engaged, brought your babies home or completed one of your greatest DIY projects. Homes are meant to be places we love, and no matter how much you may need more space or look forward to a new location, letting go can be hard. Continue reading
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Why talk about the psychology of buying a home? It’s important because research shows that emotion is a critical factor in consumer behavior. Homebuyers, in particular, often struggle to remain rational in the process of finding and purchasing a home. Continue reading
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Is it already summer? It is getting close to vacations, grill-outs and pool parties. This means it’s also time to do an outdoor and vacation safety checklist for your home. Below are some tips I hope every home owner remembers to look over while getting ready for summer. Continue reading
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With spring officially beginning on March 20th and the idea of fresh new beginnings in the air, many folks are eager to get started updating their homes for a sale or planning improvement projects for a future sale. While you may be interested in adding a deck or patio, updating a kitchen or bath, or even adding crown molding to enhance trim details, not all projects are created equal in the eyes of a residential appraiser. Let’s look at a few of the things THEY look at to assess value.
Homeowners considering home improvements need to remember that cost doesn’t always equal a dollar for dollar return in value. An appraiser does not simply add the cost of your improvement to the value of your home. Instead, an appraiser will look at the age of the improvement, assess cost and calculate depreciation if the asset is not new. Then they will evaluate the current marketplace to determine if buyers are buying and contracting for homes with similar improvements. The two approaches most often used to define value are called the Cost Approach and the Market Comparison Approach.
There is a lot to be said for your geographic location. For instance, if you have a unique setting and live near a pond or lake, have scenic views of the mountains, or live on the 18th green of a private golf course, the attributes of the lot/land are taken into consideration and should add value. Likewise, enhanced hardscape, such as an outdoor masonry fireplace, or even an in-ground swimming pool would also be taken into consideration. Whether or not the appraiser determines the site location and exterior enhancements to be of premium value depends on the appraiser. Once again, the cost and age of the improvement and most importantly here, the market comparison assessment, may or may not cause an increase in value. In other words, the year-round use of having an in-ground pool in Texas may be of higher value than one in Virginia.
Regular heating and central air tune-ups, roof and gutter repairs and replacement, septic system servicing and other routine maintenance go a long way and speak volumes to a potential buyer but do not mean a whole lot to an appraiser. An appraiser will address the overall condition of the property but will not look to see if you have recently tuned up your HVAC or checked your gutters. An appraiser is more focused on the value of the property and its assets, so a new HVAC system or roof is important for them to know about, but the routine upkeep of your home and its condition relates to its marketability.
Saving receipts can really be a pain, but it can be more of a pain not to document the amounts spent. You should also keep before and after pictures of the work you have had done. The appraiser can’t always see internal and structural work that may mean a difference of several thousand dollars. A good example would be the before and after photos of a kitchen or bathroom remodeling project.
These are only a few of the many things an appraiser will consider when determining the value of your home and its improvements. Ask your realtor for an opinion on buying and selling trends and whether your future improvement project will make a difference to your bottom line. Lastly, consider broad-based improvements that most people will like instead of specific improvements that only a few people can appreciate. Choose wisely to get the highest return and value for your improvements.
If you have questions or need a professional opinion on improvement values and the marketability of your home, contact Belinda Jacobson-Loehle at Jacobson Realty and Home Staging today.
“Belinda was very helpful and patient with all the details involved in buying our home. She showed us several homes, supervised the home inspection, and made certain all necessary repairs were completed. She also recommended responsible moving companies and kept in contact with us on the progress of the loan.” J. Lyell, Gainesville
Sign up now for a FREE copy of Belinda’s e-book, “The Real Estate Key – What You Need to Know”!
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Spring is here! It’s time to spring clean and look for those little (and big) repairs we keep putting off. I can’t think of anyone who doesn’t try to ignore a home fix up, but with a bit of planning, you can be ready to tackle the projects that keep your house in great shape.
The biggest question is always where to start. Winters in Northern Virginia may not be like they are in Siberia, but they can take a toll on your house. Below is a checklist of common spring concerns for every homeowner to get you going.
Many people see cleaning the gutter as a fall chore. However, debris falls year round and ice buildup in your gutter system over the winter may cause damage. After cleaning out your gutter system, run water through and look for dripping in odd areas that could indicate leaks. Consider gutter netting covers or a gutter guard to lessen the amount of debris collecting and extend the life of the system.
Break out the binoculars and do some roof watching. Loose shingles or bowing and swelling need to be addressed right away. Repairing the small concerns on a roof can save you in repairs, as well as avoid negative appraisal values if you are getting ready to sell your home. Also look for fungus growth, the ugly black color on shingles that make your roof look unsightly. This condition and other issues can be easily remedied to improve the overall look of your home.
How is your siding holding up? Even homes with all-weather vinyl siding need a once over to look for loose or broken strips, or perhaps a good power-wash to remove some green algae. While you are checking out the siding, also take a peek at windows and their exterior trim to make sure that there is no wood rot or cracked windows.
Take a good look at your home’s foundation to make sure there are no drainage or dampness issues. Clean the vent areas out so the basement has a good circulation of air to prevent mold and mildew problems.
Spring is the perfect time for a HVAC (heating ventilation and air conditioning) tune up. The Indoor Environment & Energy Efficiency Association recommends a yearly inspection and tune-up of your heating and cooling system if it is more than 10 years old. Also, remember to change your air filter routinely to lengthen the life of your heating and cooling system and provide you cleaner air.
If things are looking a little jungle-y in your corner of the world, it may be time to trim the trees and shrubbery. Not only does it help with the all-around look of the property, trimming the overgrowth can eliminate some of the debris issues on a property, as well as potential large debris problems that can crop up during storm season.
Once you take a look around, you may find other projects that need attention. Just remember, if you get the spring repairs out of the way, not only will you avoid bigger problems, but you will also have more time for summer fun activities.
If you need contractor referrals to assist you with the spring clean-up, or if you considering selling your home this spring please contact, Belinda Jacobson-Loehle at Jacobson Realty and Home Staging today.
Sign up now for a FREE copy of my e-book, “The Real Estate Key – What You Need to Know”!
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Just like we winterize our cars with new tires, a tune up and oil change, our homes need a winter tune up, too. Our homes are the largest investments we make, and keeping them in top shape keeps us comfy and our investment safe. Below are a few suggestions to keep your house warm and winter safe.
My hope for everyone is to have a safe and warm winter. I am sure there are a dozen more tune-ups out there any homeowner can think of to add to their list. If you would like to stop in and give me your ideas, or if you are looking for a cozy new home this winter contact Jacobson Realty and Home Staging to get the conversation started.
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