9 SELLING: Will renovating always
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increase my resale value?
Make conscious decisions when renovating your home.
While newer will entice potential buyers, be cognizant of
what rooms you update and how you do it. While updated
kitchens will increase the value of your home, be sure to
appeal to a wide range of tastes. A good place to start is with
the appliances. Realtor.com states that homes with stainless
steel appliances sell 15 percent faster than those without.
Updated bathrooms are easier to satisfy a wider range of
buyers’ desires for luxury, but be sure to keep the colors
neutral.
10 SELLING: Don’t spend earnest money!
Many sellers make the mistake of depositing and spending
earnest money before closing day. If the transaction doesn’t
go through or the buyer pulls out due to repair issues, it is up
to the seller to return the cash. It is recommended to have
a real estate agent or broker hold the deposit. Most buyers’
earnest money will be held in an escrow account until the
closing day, allowing the money to remain untouched by
either party.
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FUN FACT: Get the name and numbers.
Just when you think you’ve checked all the boxes for an
easy sell of your house, take a second look at your address.
According to Zillow, street names and house numbers
matter! If you happen to live at 666 Fanny Hands Lane, you
may be out of luck (however that particular street is in the
United Kingdom, so you should be safe). Innuendo-laden
street names tend to not sell as quickly as those like Thunder
Road. American numerology says that 666 is bad luck and
could decrease the value of your home by 2-3 percent.
Also, steer clear of the number four, considered unlucky in
Chinese culture. Stick to the number eight, or include the
lucky digits 316 in your asking price!
Before entering the real estate market, educate yourself. The
more you know, the better your chances are for nailing down the
home of your dreams! n
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