Owning a home means having the freedom to renovate or remodel it up to our budget’s content. They add to the total value if done right. However, there are things that can also bring down its value. We need to be careful in choosing which improvements to make to get the most return on what we spent. Here are home improvement mistakes that impact real estate value.
DIY projects that went wrong
DIY projects are fun. It keeps us busy during weekends and adds improvements without spending on labor costs. This is where it can negatively impact the value of our property. When we do projects ourselves, the quality is not on the same level compared to projects done by professionals. Dangling electrical wires or poorly built cabinets is something that you don’t want to showcase when you decide to sell your house later on.
Your favorite color is pink. Thus, you decided to paint the interiors with the color pink to make a statement. This is good only if you’re not selling your house. If ever you decide to sell your house in the future, it must be repainted to more neutral colors. If you insist on keeping the pink motif, potential buyers will walk away or negotiate a lower price because they need to repaint the interiors once they own the property.
Kitchen or bathroom upgrades
Upgrading your kitchen or bathroom won’t raise the total value of your property. Your money is better spent somewhere else like attic insulation or upgrading your appliances with energy efficient ones. An ordinary kitchen or bathroom is a must for any home but good enough as long as it serves its purpose well.
Some people hate having pets inside the house. If you love dogs, it’s only natural to have dog doors so your furry pets have easy access. When it’s time to sell your house, your prospective buyers will see your dog doors in a negative light. They’ll feel vulnerable that burglars can enter the house through the opening in the door. They know that they’ll have to replace the doors and that will lead them to make a lower offer.
Swimming pools have expensive maintenance costs as well as higher insurance premiums. The present owners are liable if in case a guest drowns in the pool. They are nice to have but pools are huge liabilities that present a threat to life and only take money out from the present owner’s pocket.
We should consult the professionals first if ever we decide to renovate or remodel our house. This is to make sure that the money we spend on renovations increase the total value of our properties and realize the gains once we successfully sell our house.
Real Estate Agents have lucrative careers. They have unlimited earning potential. As long as they continue to close more deals, their commissions will keep on coming. Only a few really make it to the top. It’s a sad reality that a lot of other Real Estate Agents are barely making enough money to survive.
It’s because of tough competition. The really successful ones have advanced skill sets that set them apart. If you’re just starting out as a Real Estate Agent or have already logged a few years but feel you’re still not at the top, you need to develop these skills. These are the advanced skills that can make you a successful Real Estate Agent.
The top agents always see themselves as a continuing work in progress. They continue to study the latest trends and undergo specialized training related to Real Estate. They know that this is only one of the ways they can do to keep a step ahead of their competition. They understand that to stay at the top, they must always stay hungry for more knowledge. Once they stop doing this, they’ll lose their edge.
Familiarity with Legal terms
They don’t need to be lawyers to be well-versed in the legal side of things related to Real Estate transactions. The top agents know that they can help their clients more if they understand most of the legal terms found in the contract. They’re not lawyers but they’re not intimidated by these legal terms.
An Agent who can think on his feet isn’t afraid of problems. The top agents thrive in these difficult situations. They know that they will only get better by going through adversity. Giving up isn’t an option. Instead, they stay calm and think about the solutions that can solve the problems their clients are facing.
Effective communication skills
Understanding their client’s needs and letting their clients understand what they are saying means effective communication skills. They have mastered this art because this skill is what they need to be able to connect with their clients. Only agents who can truly connect with their respective clients have the biggest chance to make it to the top.
Buying or selling anything will always involve negotiations. It’s about letting the other party know what you want or need in a deal, that must be met. Deals are only made when both parties come to an agreement. Negotiation skills are very important. They help the agent meet or exceed their client’s expectations.
Owning a house is the rite of passage for being an adult. Since home ownership is a very expensive investment, making a single mistake can be very costly. Here are the things buyers wish they’d been told before buying a house:
- You are single today, how about two years from now?
Many home buyers forget to see the purpose of the house in the future. There are many single people who bought small homes. They failed to realize that in the future, they will eventually get married and have kids. When this time comes, they figured that their house is not big enough to accommodate a growing family. They will eventually need to remodel the house or find a new one, both can be very costly.
- Keep your emotions in check
Your emotions might get in the way of choosing the right house that you need. Keep in mind that emotions are blind and if you will make a decision based on how you feel, you might regret it later on. Instead of simply falling in love with the property because it is painted with the color that you love, consider all factors first to determine if the house is a perfect fit for your needs and lifestyle.
- So, how’s your budget?
Buying a Ft Lauderdale luxury real estate is a lifetime commitment, well, almost. This means that every month, you need to portion a certain percentage of your salary for paying the mortgage and keeping with the maintenance cost. You also need to make sure that your income is more than enough to cover other expenses such as taxes, insurance, HOA fees, etc. You cannot run out of gas while on the road, or else you can never reach your destination.
- How will you move in?
Make a plan when and how you will move in. Experts agree that you need to stay away from traffic when you move in. Weekends and end of the moths must be avoided as the streets will be jammed. Avoid winter season for safety reasons. Once your date is set, how will you move in? Are you going to pack things on your own or you will hire a moving company? Who will help you pack the things? Where will you buy carton boxes? What moving company will you hire?
- Shop around with your mortgage
Different lenders offer different mortgage terms. Apply for a mortgage in 3-4 banks then compare their rates once approved. Check what are the hidden charges involved in acquiring a property before you choose. Collect loan approvals then choose the best offer.
Many people are saying that the economy is back on the rise, especially when it comes to the luxury real estate. This is at least one aspect of the world economy that is showing an upward trend. The market tends to aim at the richest economies of the world. However, nowadays, it is possible to acquire luxurious real estate without having to break the bank.
The actual definition of the luxurious real estate will differ from location to location. It can also depend on the perception of what is “luxurious” on the point of view of one individual to another. The main difference between the average property and a luxury property is its location. For instance, most homes in the oceanfront are luxurious. Though the home itself may not be large, the amenities that it provides makes up for the square footage.
Price is another reason that property can be classified differently. For instance, for the price that you will pay for one luxury real estate, you could easily buy a few average properties. When dealing with the luxury real estate, not only the clientele differ, but also the agents selling the properties. Buying a luxury property takes much longer and more complicated than buying a regular property. There are many negotiations involved before the deal is closed. This will be an expensive purchase and will require some deep thought.
Marketing regular properties are easier and less complicated than marketing a luxury real estate. On the other hand, the targeted audience for the luxury real estate is normally not the local market. The marketing strategy should be aimed at people who belong to the upper class of the society- the rich and the famous. Top-notched advertising is required to promote the property, which cannot be done by an average media production companies.
An agent has more responsibilities when dealing with an upper-class property than an agent concentrated in selling regular properties. The service of professional photographers is needed to produce quality photos that will be used to advertise the property in several mediums. The pictures can be used for brochures and for PowerPoint presentations in order for prospective buyers to get a perspective on what they are about to buy. Due to the nature of these presentations, the agent must be vigilant in his sales tactics.
If you are ready to upgrade to a beautiful luxury home in Silicon Valley, there are many points you will want to consider when pinpointing the perfect house for you and your family to call home. While the style of the house and its specific amenities are important, most of the points you should consider surround the location of the luxury real estate. No matter whether your focus is to settle down for a long time or find a property that is sure to hold its value so you can sell eventually, location is the prime deciding factor for what luxury home you will buy.
The first thing you picture when you are told that location is important is the surroundings of the luxury real estate itself. This is essential because if your property is backed up against Highway 85, the noise from the traffic will destroy any time you have outside. Also, acreage is important not only in your personal enjoyment but in the value of the luxury real estate. To be considered an estate, generally an acre parcel of land is the minimum amount required to be considered an estate rather than a nice home with some land.
The second factor of a luxury real estate’s location is the economy. By choosing Silicon Valley as your location for finding prime luxury real estate, you will appreciate one of the best economies in the country. The housing market hit rock bottom in the first months of 2009, but since then it has been making a stronger comeback than other areas of the United States and even of California. The job market is strong and the time that homes are spending on the market has been decreasing over the past year. This is an excellent sign for the future of luxury homes in Silicon Valley.
Another aspect to consider is the recreational opportunities, schools and other services in the neighborhood in which you choose to settle down. Many locations in Silicon Valley have nature trails, golfing, tennis courts and more, especially estates that are located within gated communities. Not only are there many recreational opportunities, the neighborhoods here are clean and well-maintained as well. Schools are important to consider if you have children. Are they nearby? Is the school overcrowded? All these things should be taken into account in addition to the amenities and design of the luxury real estate you are thinking of buying.
Florida luxury real estate goes beyond basic finishes and home styles to provide truly luxurious lifestyle options. Take a look at two of Florida’s premier communities to get an idea of the amenities and lifestyle options you can expect with high-end real estate in this region. Florida offers a fantastic collection of high-end real estate options for the discerning home-buyer. Whether you’re looking for resort-style living, an ultra-private community or just fabulous properties in a beautiful climate, Florida offers some great choices.
What to Expect from Florida Luxury Real Estate
Luxury real estate isn’t just about large houses, high-quality construction or beautiful finishes. Buyers who are shopping for properties in Florida’s premier communities enjoy a wide range of lifestyle options tailored to pleasure, relaxation or service. On-site dining, fitness facilities, golf and boating are just a few of the luxuries you can expect with high-end properties in this region.
Frenchman’s Creek real estate consists of some of the most desirable properties in the area. Residents enjoy resort-style living in this country club community, with a wide range of amenities and high-end properties. Homeowners in this neighborhood benefit from:
- Two championship golf courses;
- A bi-level driving range and chipping practice area;
- A 23,000 square foot spa and fitness facility, featuring state of the art equipment;
- Fifteen personal trainers and five fitness instructors to offer a wide range of classes and individual instruction;
- Casual and fine dining options;
- Access to the private Beach Club;
- Concierge-level service, including lounge chairs and umbrellas reserved for Frenchman’s Creek members only;
- A dog park;
- Sports bar with multiple TVs and a pool table;
- A full business center with conference and meeting rooms;
- On-site services ranging from dry cleaning to home repair;
- And many other amenities.
This is truly one of the finest Florida luxury real estate offerings. Buyers can choose from four collections of homes, which include: Townhouse Homes, Patio Homes, Villa Homes and Estate Homes. Each of these home types’ features its own amenities and luxury features, and homeowners can select the style that best meets their lifestyle needs and budget.