8. SELLING: Will renovating always 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. An
updated kitchen will increase the value of your home, but 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.
9. 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.
10. SELLING: Consider names 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 something like Thunder
Road, for example. American numerology says that 666 is bad luck and could
decrease the value of your home by 2 to 3 percent. Also, steer clear of the number 4,
considered unlucky in Chinese culture. Stick to the number 8, or include the lucky
digits 316 in your asking price! n
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