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About Your Homes Value
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Your Home's Value

Property values are determined by a number of factors. Local market conditions, buying and selling trends, and the general economy all play a part in determining your home’s market value. Purchasing and maintaining a home is often the largest financial investment people make in their lifetime. When it comes time to sell, you want to get the most value for your investment.

Increase the value of your home with maintenance and makeovers.
The care and upkeep of a home and property is crucial to getting the best return on your investment. Making timely repairs will go far to ensure that your home will command a selling price that pleases you. Performing upgrades can increase the value of your home, and potentially increase its selling price as well.

When it comes to repairs, prioritize.
Upkeep is crucial, not only to the buyer, but for the sake of your home’s market value. If the roof needs repair, put it at the top of your list. If pipes or faucets leak, fix them next. Tighten any loose fixtures around the home. Replace broken or cracked window glass. Make sure the chimney is solid. Timely upkeep of your home will ensure its value for years to come.

What you see is what you see.
Perceived value is a fact of life. If your house is rock solid, but the doorknobs are loose, it may be enough to turn away a potential buyer. Do a thorough visual inspection, then do another one, hands-on. Do the ceiling fans jiggle when in motion? Level them. Are there burned out bulbs in that beautiful bathroom fixture? Replace them. Is the screen door in disrepair? Re-screen it. Small changes can bring big rewards!

While you’re at it, consider some upgrades.
A hot new kitchen, complete with dishwasher, wine cooler, dual sinks, granite countertops and under-cabinet lighting will go a long way toward adding value to your home. A kitchen remodel should represent 10-20% of your home’s value. You’re likely to recoup around 80% of your kitchen remodeling expenses, and the new look could be the deciding factor to convince buyers that yours is the home of their dreams.

Adding on can add up.
An extra room is a significant addition that will immediately increase your home’s value in the eyes of the buyer. Imagine a den or spare bedroom where none existed before. Take advantage of the additional room while you’re waiting for a buyer to fall in love with your home.

When the big stuff is done, think small.
Even relatively small changes can produce big results. Add some ceiling fans. Update the bathroom cabinet. Install a tub liner. Put down some new flooring. Replace those yellowed switch plates. Add some complimentary throw rugs. Place fresh flowers in every room. Eliminate clutter. Lay down a fresh coat of paint. Wash the dishes! Make sure everything is spotlessly clean and in good working order.

Celebrate that first impression.
When potential buyers walk up to your home for the first time, they are taking everything in. Will they like what they see? Trim and edge the lawn grass. Tidy up the shrubbery. Weed the flower bed and remove the dead plants. Put the kids’ bikes in the garage. Wash the car – it may not sell with the house, but it's still part of that all-important, partly subliminal initial reaction. When it comes to first impressions, every element counts.

Add the finishing touches.
Invest in some new accessories to enhance the look and feel of your home. They might turn out to be the finishing touches that determines who your home's next owner will be, and how soon the transition will take place. Some colorful throw pillows will add warmth to the family room. Fresh fruit in a bowl can introduce positive concepts like good health and wholesome living.

Do it, but don’t overdo it!
Large improvements can greatly increase the value of your home, taking it far above the current average value of homes in your neighborhood. Be sure that your home meets or only slightly exceeds the standards of other houses in your neighborhood. You do not want to price yourself out of the market!

 
     
 
TAL Realty, Inc.
1115 Central Ave NW
Albuquerque, NM 87102

Office: 505.883.7355
Fax: 505.880.2868

 
     
 

© Copyright 2010 TAL Realty, Inc.| A New Mexico Real Estate Brokerage