Recoup your remodeling investment when it comes time to sell.

 Remodeling? Recoup Your Investment When You Sell

Before you pour your savings into a new kitchen and a rainforest shower for the master, think about whether or not you'll be able to recoup your investment when it comes time to sell.

If you have equity in your home, you can make improvements, but don't go over the limit of what other buyers can spend for a home similar to yours in your neighborhood.

While it's tempting to make your home more beautiful, you have to consider the rest of your neighborhood. If most residences in your neighborhood are three-bedroom single-story homes, buyers are unlikely to shop in your area for two-story four-bedroom homes.

Buyers want to shop for a home where there is the most selection of homes that fit their criteria. If they want a swimming pool, they're going to look in neighborhoods where many homes have pools. They won't be aware of your home if you have the only pool in your subdivision.

That's why over-improving for the neighborhood is a bad idea. Not only will you not get your money back for some updates, your home may be harder to sell because of them.

Another reason buyers don't tend to pay as much for updates as you might think is broad differences in taste. Your updates may include choices your buyer wouldn't have made because of several reasons:

• You only improved one or two rooms, leaving the rest of the home looking unfinished.

• Your updates were too radical, such as cold minimalism in a traditional setting.

• Your updates masked a problem but didn't solve it, such as a kitchen that's too small. If the kitchen is still too small after you've put in granite counters, don't expect buyers to care.

• You failed to do necessary repairs and updates that were less visible than the new décor but buyers noticed anyway.

• Your updates are beautiful but require a lot of cost and upkeep.

Buyers want to make a home their own, and don't want to be distracted or confused by design statements that they don't agree with. Enjoy your home while you can, but make sure your new look can be easily depersonalized when it comes time to sell.

Don't expect to set a listing price based on what you've put into your home no matter how long you own it. Your home will be worth market value no matter when you sell, whatever the value is for that point in time.

All the improvements in the world won't change that basic fact. Your home and the improvements you make are only worth what willing buyers say they will pay.

Before you begin renovations, talk to your Realtor and your lender. They will help you develop a reasonable plan for updates that will add value to your home.

Ideas for Moving With Young Children

 Moving With Young Children

Are you happy and excited about selling your home? Or are you dreading the sorting, packing and other chores?

Your attitude is contagious to little children. If you look at moving as an exciting adventure full of fun, new possibilities, then you're halfway to getting your children on board for the ride.

Most children don't like the changes associated with moving, so it's your job to get them looking forward to it. The younger the child, the less able they are to "see into the future" as you do. They tend to focus on missing friends and family.

You can make childish fears and doubt grow into a sense of wonder and curiosity.

Acknowledge and empathize with the loss they feel and show them how to balance their feelings with what they have to gain.

1. Communicate with your child patiently and frequently. Let your children know, step by step, what is happening and what is likely to happen next. Tell them what the move means to the family -- how important it is that Mommy got a big promotion or that Daddy is opening a new office for his company and putting people to work.

2. List all the advantages there are for the child in the move. For example, will the family be closer to Grandma, or another favorite person? Will they be closer to the ocean, a park or other favorite place? If you promise they'll be able to see old friends and family frequently, be sure to keep your promise. Children are like elephants - they never forget.

3. Show your kids as many pictures of their new home, neighborhood and city as possible. When you show your child their room, make a game of it. Draw a room plan and let your child draw and cut out images of furniture and toys to move around.

4. Introduce your child to the new community online. Draw a map or print one out and show how close Mommy and Daddy work, where schools are, where Aunt Bea lives, and other points of interest to help them orient themselves in their new surroundings.

5. Be ready for those "What about me?" questions. If your child is in scouts, little league, or other organizations, contact those associations for referrals in your new neighborhood or city. Knowing they won't have to give up favorite hobbies or sports goes a long way toward helping children adjust.

6. Let your child participate. Make a fun activity out of researching services you'll need online, like finding a veterinarian for your dog. Older children can find blogs online about their new school.

7. Keep your child occupied by letting them plan what to pack and what to take in the car or plane on the way to their new home. Pack a box or two of their special things and make sure it arrives at your new home before you and the kids arrive so they won't have to wait for their favorite things until everything's unpacked.

8. Encourage them to take the time to exchange good-byes with friends and loved ones and get addresses, e-mail addresses, and phone numbers to stay in touch. If they're old enough to write, let them start making notes about the moving experience so they can put their thoughts into letters later.

9. Try to stick to normal routines as much as possible. Let your children know that, although they will soon live in a new house, the rules of the household will still be the same. Bedtime is still at 9 p.m., and homework must still be completed before TV or video games.

10. Make sure they know that although Mom and Dad are a little busier and distracted with the move, they love their children very much and are giving the entire household a new opportunity to grow. Your preparations will go a long way in reassuring your children that their needs are being considered, even while big changes are happening around them.

 

The Importance of Curb Appeal

 Curb Appeal is a Must!

If your home has curb appeal, you'll be able to sell it quickly and for top dollar. That's why REALTORS® rate exterior home remodeling projects as the most valuable homeowners can make.

Many homeowners are confused about which projects will provide the most return on investment as they prepare their homes for the market.

The 2014 Remodeling Cost vs. Value Report, co-sponsored by the National Association of Realtors and Remodeling magazine, outlines the costs and resale returns on the most popular home improvement projects.

Realtors know which home features are important to buyers in their area. Projects such as a new entry door, siding and window replacements can recoup homeowners more than 78 percent of costs upon resale.

So why remodel anything if it's not going to give you back 100%? It's because the first impression a homebuyer gets is priceless. You want the buyer to choose your home, and quit looking for something better.

If the buyer doesn't like what he sees, you won't get another chance to make any kind of impression.

So which home improvement projects will net the most return?

Eight of the top 10 most cost-effective projects are exterior projects.

Replacing your front door with a steel entry will cost $1,100 on average, but you'll get nearly 97% of what you spent back in your pocket.

The second most popular improvement is a wood deck addition, which will return over 87 percent of costs, similar to the return on fiber-cement siding. Vinyl siding returns a little over 78 percent of costs.

A midrange garage door replacement returns nearly 84 percent while an upscale garage door replacement offers 82.9 percent of costs recouped. Wood window replacements recoup over 79% of costs and vinyl windows return nearly as much.

Rounding the top 10 projects are an attic bedroom and minor kitchen remodel. These are important too, but you've got to pique buyers' interest first.

The good news is that the return for all projects is higher in the last two years. To find out what the best return on home improvements is in your area, talk with your REALTOR.