Putting your real estate investment on the market or buying a property, can sometimes leave you feeling overwhelmed. Here are 5 tips on how to get the best for your property.
Find trends – You can collect real estate data from Zillow.com, which has statistics from over 100 million homes. You can then look at trends to find which are the best areas to invest in.
The Starbucks effect – Most properties will increase in value if there is a close Starbucks around the corner. So look for upcoming neighborhoods that already have a coffee culture.
All renovations are not created equal – All renovations will not get you a better price on your home. The most return is seen on mid-range bathroom remodeling. While the worst home improvements for value are kitchen remodeling and finishing a basement. This is because a large kitchen renovation of at least $22,000, will only give you a return of 50% of the cost.
Use the right words in a listing – Words like “unique,” “TLC,” “investment” and “potential”, can lower your sale price by 7%. Opt to use words like “luxurious” and “captivating” to add value to your home.
“When” is as important as “how much” – You should always avoid putting your place on the market in December because most people are not willing to make large investments at this time. Instead opt to put your home in for sale in March, when homes will sell faster and go for a better price.