Sellers Archives | Page 13 of 98 | Blessings Realty | Colorado Springs and Monument Realtor

4 Ways Your Bathroom Can Impact the Value of Your Home

December 11, 2020 By Claire Garlick Leave a Comment

Most real estate professionals agree that a home’s kitchen and bathroom are two of the biggest selling points for homebuyers. However, even if you’re not planning to sell your home in the near future, you should want your bathroom to be as cozy and accommodating as possible since most people spend considerable time in that room each day.

To add value to your home, or just make it more attractive and useful, here are several upgrades to consider:

Shower, Tub, Sink, and Toilet

Have an expert check your bathroom plumbing to ensure it remains in good condition. Repair any leaks in the water lines and remove evidence of mold or mildew. Fix a dripping faucet and replace worn or rusty hardware in your shower, tub, or sink. Additionally, remove hard water stains in the toilet bowl or grunge around the base.

You may want to repair or replace fixtures that appear dated or that show wear, such as a chipped bathtub finish or cracked counter. Also, consider adding a bidet for convenience.

Lighting

Outdated lighting fixtures can make a room look unstylish and boring. If the electric isn’t up to code, that issue should be handled immediately to ensure safety while using bathroom appliances like a blow dryer or electric shaver. Install recessed lighting or wall sconces to coordinate with the rest of your home decor. Also, dress up any windows with bamboo shades or a cheerful valance—and let the sunlight in when possible.

Flooring

A bathroom floor that’s cracked or showing signs of age can be replaced affordably by utilizing newer water-resistant floor tile or linoleum. Choose a style that meshes with your bathroom’s color scheme and blends with the rest of your home. New flooring can immediately brighten up a bathroom to make it feel more welcoming and updated.

Decor

You may want to paint or add wallpaper to just one wall to bring some personality to your bathroom. Add a couple plants that will thrive on the moisture and help reduce the risk of mold. A wall shelf for decorative vases, flowers, or linens adds storage to make the bathroom more functional. Additionally, hang framed wall art to go with a themed shower curtain as focal points of interest. And a bath mat or throw rug can add a spot of color to bring everything together.

It won’t require much time or money to get your bathroom in top condition. You can continue to enjoy it indefinitely or be assured that if you decide to sell your home, the updated bathroom might just help to clinch a sale.

Article originally published at http://blog.rismedia.com/2020/bathroom-impact-value-home/.

Real Estate Is a Driving Force in the Economy

November 13, 2020 By Claire Garlick Leave a Comment

As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year.

Today’s high buyer demand combined with low housing inventory means we’re seeing home prices appreciate at an above-average pace. This demand is being driven by those who want to take advantage of historically low mortgage rates. According to Freddie Mac:

The record low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth.

These factors are driving a positive impact on the economy as a whole. According to the National Association of Realtors (NAR), the real estate industry provided $3.7 billion dollars of economic impact to the country last year. To break it down, in 2019, the average newly constructed home contributed just over $88,000 per build to local economies. Across the country, real estate clearly makes a significant impact (See map below):

In addition, the Bureau of Economic Analysis recently announced the U.S. Gross Domestic Product increased at an annual rate of 33.1% in the 3^rd quarter of this year, after decreasing by 31.4% in the second quarter. There’s no doubt the growing economy is being fueled in part by the soaring housing market. Experts forecast this housing growth to carry into 2021, continuing to make a big impact on the economy next year as well.

Bottom Line

The American Dream of homeownership has continued to thrive in the midst of this year’s economic downturn, and “home” has taken on a new meaning for many of us during this time. Best of all, the housing market is making a significant impact as the economy recovers.

Article originally published at https://www.keepingcurrentmatters.com/2020/11/04/real-estate-is-a-driving-force-in-the-economy/.

How the Age of Your HVAC System Impacts Your Home’s Resale Value

November 6, 2020 By Claire Garlick Leave a Comment

When considering what to upgrade before you sell your home, it’s just as important to think through your home’s mechanical systems as it is your home’s aesthetic elements. After all, aesthetic elements are often easier and less expensive to change than mechanical systems.

One of your home’s most important mechanical systems is your HVAC system. Even though it’s not immediately visible, it can have an outsized impact on your home’s resale value. Here are different ways your HVAC system’s age can affect your home’s resale value:

Comfort During Home Tours

One of the most obvious things to keep in mind is that your HVAC system can provide comfort to potential buyers during home tours. If your system is too old to provide reliable comfort, potential buyers are sure to notice. While some buyers will be able to overlook this issue, it will be a turn-off for other buyers, meaning that you will have less competition for your home, which could then lower the eventual selling price.

Selling Disclosures

To avoid financial mistakes, the home-selling process is regulated to be transparent. One way this happens is through selling disclosures that must be presented to the buyer before the transaction closes. The age of HVAC systems is one component that appears on these seller disclosures, meaning that potential buyers will be fully aware of the age of your HVAC system. Therefore, even if your older HVAC system works well, it could still turn away some buyers once they see how old your system is.

Selling Concessions

Even if a buyer chooses to offer the original asking price for your home, you may still lose out on money when the details are worked out. That’s because the buyer may ask for concessions from you, which may include replacing all or part of your HVAC system. Considering the cost of a new HVAC system, this could significantly cut down on your sale proceeds.

Energy-Efficiency

While an older HVAC system could be a liability when it comes to the selling price, a newer one could prove to be an asset that could boost the selling price. This is because you can advertise the energy savings of your newer HVAC system when compared to other similar homes. For a buyer that’s looking for the total package, this could be the feature that convinces them to put an offer on your house.

It’s important to remember that just because you have an older HVAC system doesn’t mean that your home will be hard to sell. While it may affect the value of your home, there will still be buyers who are eager to have your home, even if it means that they’ll have to do some work on the HVAC system down the road.

Article originally published at http://blog.rismedia.com/2020/hvac-impacts-homes-value/.