SPECIAL SECTION:
Real Estate
9. SELLING: FUN FACT:
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. 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 something more 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! ■
Will renovating always increase my resale value?
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.
Get the name and numbers.
UPPER ST. CLAIR
❘
SUMMER 2019
45