Articles Tagged "Increase Home Value"

Renovating or updating your home is an exciting prospect. Whether you plan on living there a while longer or are fixing it up to sell soon, doing much-needed updates can be satisfying. Before you get too carried away, though, here are a few words of caution from our real estate agents.

1. Choose your contractor carefully.
   Remember that a lot rides on your choice of contractor. This person will oversee your project, so it needs to be someone who is on board with your vision. It also should be someone who is good at what they do, so check online reviews. It's a good rule of thumb to interview several contractors and look for someone who will be a good fit for your project, understands your budget, and will be able to deliver as promised and on time.
   
   
2. Expect the unexpected.
   That being said, always expect the unexpected, and build a little wiggle room into your budget and your timeline. You don't know what your contractor and his crew will find once they start work. The original plan may need to be changed or some issue could require attention before the work can continue. If you build a little extra into your overall plan, changes in cost or time frame won't hurt as much.
   
   
3. Do the kitchen first.
   There are several reasons why you should do the kitchen first. First of all, it's likely to inconvenience you the most, since you won't have a kitchen to cook in. You can set up a temporary kitchen station in another room, where you can do simple food prep. But more importantly, kitchen updates have the biggest impact on your home's value. Dallas homes for sale that feature clean, modern kitchens show and sell the best. Plus, those updates feature the most functionality, so you'll likely enjoy them the most during whatever time you have left in the house.
   
   
4. Be honest with yourself before DIYing.
   It can be tempting to save yourself the money and do the work yourself, but be honest with yourself as to whether you have the required knowledge, experience, and skill to DIY it. If you overestimate your ability to DIY your upgrades, you'll detract from your home's appeal and leave the buyer to clean up the mess. Be honest with yourself, and if you don't know enough to make the job look professional, then leave it to the professionals.
   
   
5. Know whether you're selling or staying. 
   If you're designing updates to enjoy while you live in the home, your goals are going to be different than if you're updating a home in order to join the list of Fort Worth homes for sale. Renovations for yourself will of course be targeted to your personal preferences, whereas renovations prior to selling need to be more neutral so that they'll appeal to a wide range of potential buyers.

If you're looking to sell your home soon, home improvement projects are a great way to boost its appeal to buyers. For more information about what upgrades sell the best, or to speak to an agent, contact us today.

The number of homes listed for sale with North Texas real estate agents has risen by about 15% this year. But they aren't in the price range most buyers want.  "The inventory is increasing at the upper end — $750,000 and above," Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University said. "If you have a well-located $300,000 house, you can sell it tomorrow. We are seeing evidence of price fatigue in the market."  D-FW home prices are up only about 3% so far in 2019 — nothing like the double-digit percentage home price gains of a couple of years ago.  "The recent spike in mortgage rates did expose how price sensitive the market is," said Paige Shipp, regional director with housing analyst MetroStudy Inc. "Things are not quite as rosy as they seem in terms of what people can afford."  Many home sellers haven't gotten the message, she said. "They want to list their house for more than their neighbors sold for and sell it overnight."  D-FW has an undersupply of homes priced below $250.000.

• Dallas Morning News, October 14, 2019

After several years of ever-increasing sales, there are signs that North Texas' million-dollar home market has hit a ceiling.  Sales of high-priced Dallas-area homes have shot up in recent years, rising at a much greater rate than the overall housing market.  There are now more than a dozen Dallas-area mansions on the market with price tags of more than $10 million, according to Realtor.com.  While demand for low- and moderate-priced houses is still rising in North Texas, the latest sales numbers show that purchases of million-dollar properties have leveled off.  For the last few years, million-dollar home sales in the Dallas-Fort Worth area have grown at double-digit percentage rates.  Housing analysts say that the inventory is rising while more moderate-priced properties are in short supply.  "The inventory is mostly at the upper end," said George Ratiu, senior economist with Realtor.com.  "That's not where the most demand is."

• Dallas Morning News, October 14, 2019

Are you considering selling your DFW home or investing in a Texas property that you plan on flipping? Our real estate agents strive to identify the burgeoning trends that homebuyers seek in the Dallas/Fort Worth market. Among the many home improvements that sellers complete to increase their home value, we want to highlight seven specific exterior home features that buyers instantly fall in love with.

1. Versatile Outdoor Space
   Dallas is a fantastic place to live, particularly because our range of seasons keep us pretty comfortable all year long. With such wonderful weather, it's no surprise that homebuyers want versatile outdoor space. From covered patios to open areas for grilling, entertaining, or warming up around a fire pit, these families are looking for a convenient, comfortable way to enjoy their outdoor living space.
    
2. Exterior Lighting
   You may be surprised how important proper exterior lighting is to home buyers; more than 90 percent desire it! We're not just talking about a simple porch light either — homebuyers want to showcase their exteriors in dazzling ways. Landscape lighting works wonders on a home, impacting everything from appearance and functionality, to home security and personal safety. A well-lit exterior illuminates pathways and keeps tripping hazards to a minimum. It also enables the homeowner to use their outdoor spaces long after the sun has set. With such an importance placed on daytime curb appeal, it makes sense that homebuyers want the added nighttime curb appeal that exterior lighting provides.
   
   
3. Smart Security
   Smart tech surrounds us, and if you're paying attention to homebuying trends, you know that these devices are being integrated into and around the house. One of the most popular smart security devices is a video doorbell that enables homeowners to monitor and record activity on their doorsteps from their mobile device. Here's an idea for those who want to maximize their investments — invest in a smart security system that includes exterior lighting. These lights are triggered by motion sensors, which provide added security in the areas you need it while cutting down on energy usage when the lights aren't in use.
    
4. Energy Efficient Windows
   Smart appliances are quickly moving into every kitchen, living room, and laundry room, and homebuyers are also expecting these energy-efficient technologies to be featured around the exterior. Energy Star-qualified windows can reduce the cost of heating and cooling a home by more than 10 percent. The gas window panes significantly limit the heat gained and lost in the home. We've got hot summers and chilly winters in the DFW — homebuyers are definitely placing energy efficient windows high on their list.
   
   
5. Solar Panels
   Energy bills can never be too low, which is why many homebuyers seek out houses that have solar panels installed on their roofs. These features encourage fast home sales, and there is a growing number of homeowners who choose to install solar panels after they purchase and remodel their homes. Our bright and beautiful Texas sun will provide plenty of solar energy and help homebuyers melt their A/C bills.
    
6. In-Ground Pool
   Speaking of the Texas heat, many homebuyers keep their eyes open for homes that include a built-in swimming pool. Community pools are acceptable but families love the convenience and privacy of their own swimming space right in their backyard.
   
   
7. Tennis Court
   Another amenity that some homebuyers love is their own private tennis court. In fact, they're one of the top ten indoor and outdoor home features that increase home values. Though not every family desires an outdoor sports area, tennis lovers will jump on the chance to have their own court.

Are you interested in learning more about what exterior features buyers are looking for in Dallas homes for sale? Contact us today and let our agents answer all of your questions.