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Text only newsletter stories Issue 7 Vl. 5


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Headline: Renovate vs. relocate

Is it worthwhile to improve your property, or is moving a better choice?

Unless you built a custom home, you probably have a long list of things you’d like to improve in your current home. Browsing online listings might get you in the mood to upgrade to a new home, or you might be thinking about renovating your current home after binging on HGTV. The answer to renovation vs. relocation depends greatly on what you’re trying to fix.

Thinking about a new kitchen?
If you’re dreaming of a chef’s kitchen with new appliances and beautiful cabinets, renovating your own kitchen gives you incredible ROI and is less costly than moving. You’ll increase the value of your own home if you ever decide to sell, and there’s a great sense of accomplishment that comes with completing a custom renovation.

Need more space?
If you’re running low on bedrooms, there may not be a lot of options. Converting an existing room to a bedroom doesn’t create any new space. If you’re in a condo, an addition is probably impossible. And additions can be expensive even if it’s a possibility. Moving is usually the best option.

If the neighborhood isn’t ideal
You may have seen some potential for your neighborhood when you first moved there, but perhaps it still isn’t welcoming the shops and restaurants you expected. If that’s the case, consider moving. There’s no sense in waiting years for the neighborhood to improve, especially if you can move to a house in the same price range in a more preferred part of the city.


Headline: Five things that factor into comps

You may think that sale price is the only factor when you’re looking at comps and trying to set a price for your listing. But it’s actually a bit more complicated. Here are five things that affect comps that you might not be aware of.

 1. New construction nearby: Because of low prices for lots and varying prices in home building materials, new homes can actually be cheaper and cost less per square foot than existing homes. If there’s a lot of new construction nearby, that can affect the price for your own listing.

 2. Renovations: Recently renovated homes typically sell for more than homes that haven’t been updated in a while. If you’ve recently upgraded your home—especially sought-after upgrades like the kitchen or master bath—your home should be priced appropriately.

 3. Developable lots: Not all lots are created equal. Even if the square acreage is the same, a lot that’s easily developable will get a better price than a hilly or rocky lot that needs a lot of preparation.

 4. Listing price vs. sale price: Whether sellers actually get their asking price depends greatly on the market. When you’re pricing your home, it’s important to look at sales prices, not just listing prices. The listing price doesn’t always accurately reflect what a home will sell for.

 5. Location: Nearby amenities, safety, schools, and noise levels can vary greatly within a neighborhood. Homes in more desirable parts of the neighborhood will sell for a higher price, all else being equal.


Headline: Easy upgrades: Tackle these projects in a single day

It’s easy to get stressed out just hearing the word “renovation.” You’re instantly thinking of having your home life disrupted by construction debris, cluttered rooms, and loud noises.

But you don’t have to spend a ton of money and brace yourself for months of inconvenience to upgrade your home. Here are a few projects that you can knock out in a single day, and they’ll greatly improve the look and enjoyment of your home.

Paint or replace an exterior door: If you know the correct dimensions and specifications for a replacement door, replacing an exterior door is a quick and easy job. That’s even more true if you’re repainting it. Preparation and a few coats of paint will only take a few hours.

Plant some low-maintenance trees: Young evergreen trees are relatively simple to plant, and after some heavy watering in the first few weeks, they’re very easy to maintain. They’ll add some color and texture to your landscaping, instantly improving curb appeal.

New light fixtures: Whether they’re on the interior or exterior of your home, something as subtle as light textures can have a dramatic effect. Swapping out traditional fixtures for something modern or industrial can completely transform a room.

New hardware: Drawer pulls and door knobs are easy to change out, and like light fixtures, they have a big impact. You’d be amazed how your kitchen or bathroom could look with new hardware.


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