Remodeling Projects With The Greatest Return

Which remodeling projects will pick up the greatest return when a home is sold? Remodeling Magazine asked real estate professionals, and here are their estimates for the South Atlantic states.

68.2%
Roofing Replacement (asphalt shingles)
Job cost: $22,450
Resale value: $15,303

66.7%
Bathroom Remodel
Job cost: $19,680
Resale value: $13,130

53.9%
Bathroom Addition
Job cost: $45,310
Resale value: $24,433

73.2%
Window Replacement (vinyl)
Job cost: $16,992
Resale value: $12,431

66.1%
Window Replacement (wood)
Job cost: $20,724
Resale value: $13,702

80.5%
Siding Replacement (fiber-cement)
Job cost: $15,582
Resale value: $12,550

76%
Siding Replacement (vinyl)
Job cost: $13,153
Resale value: $10,000

88.7%
Garage Door Replacement
Job cost: $3,599
Resale value: $3,191

67%
Entry Door Replacement (steel)
Job cost: $1,798
Resale value: $1,205

94%
Manufactured Stone Veneer
Job cost: $8,797
Resale value: $8,265

58.7%
Major Kitchen Remodel
Job cost: $65,166
Resale value: $38,249

76.3%
Minor Kitchen Remodel
Job cost: $22,125
Resale value: $16,884

77%
Deck Addition (wood)
Job cost: $12,714
Resale value: $9,786

66.6%
Deck Addition (composite)
Job cost: $18,506
Resale value: $12,327

Source: Remodeling Magazine, 2020 Cost vs Value Report, Mid-Range Projects

11 Steps to a Successful Open House

  1. HIRE A CLEANING SERVICE: Spruce up the entire house, including often overlooked spots like baseboards, picture frames, ceiling fans, etc.
  2. NEUTRALIZE ODORS: Shampoo carpets. Clean drapes. Air out house. Add potpourri or scented candles and diffusers.
  3. DEPERSONALIZE ROOMS: Remove family photos. Clear items from the refrigerator door and bulletin board.
  4. ORGANIZE CABINETS AND DRAWERS: Clutter makes it appear that the home doesn’t have enough storage.
  5. HANDLE MINOR REPAIRS: Fix sticky doors, torn screens, burned-out light bulbs, cracked caulking, dripping faucets, etc.
  6. PROTECT BELONGINGS: Remove or lock up valuables and medications.
  7. TIDY UP OUTDOORS: Cut grass, rake leaves, add new mulch, trim bushes, edge walkways. Also, consider a pot of bright flowers near the entry to boost curb appeal.
  8. CLEAR CLUTTER: Empty counters, cut down on decorative items, thin clothes in closets, clean garage.
  9. REMOVE PETS
  10. BRIGHTEN ROOMS: Replace burnt bulbs and consider higher wattage in low-light areas. Clean windows and screens, and replace heavy curtains with sheers to bring in more light.
  11. ADD COLOR: Put out colorful new towels and add flowers to give rooms some “pop.”
11 Steps To A Successful Open House - Realty Advisors Miami LLC

10 Most Common Flaws Found During Home Inspections

Here are the top 10 defects found during home inspections:

  • 54.9% Doors need adjusting/servicing
  • 54.8% Faucets and shower heads need servicing
  • 54.5% Exterior caulking/sealant missing
  • 53.7% Outlet or light switch problems
  • 48.0% No circuit breaker (GFCI) protection
  • 45.1% Missing or defective smoke alarms
  • 45.0% Cosmetic sheetrock cracks or nail pops
  • 40.5% Fixtures and/or bulb problems
  • 33.9% Interior caulking, grout and sealer are missing
  • 33.9% Electrical service panel problems
10 Most Common Flaws Found During Home Inspections - Realty Advisors Miami LLC

10 Reasons to List with a REALTOR®

REALTORS® aren’t just agents. We are professional members of the National Association of REALTORS® and subscribe to its strict code of ethics.

When deciding whether to use a REALTOR® or sell on your own, be sure to carefully weigh the pros and cons so that you make the best decision for your family and situation. Here are ten reasons to list with a REALTOR®.

10 Reasons To List With A Realtor - Realty Advisors Miami LLC

11 Home Features That Help You Sell Faster

Thinking of upgrading your home before you sell? Here are the features buyers want most.

  1. Laundry Room (92%)
  2. ENERGY STAR® Appliances and Windows (90%)
  3. Exterior Lighting (90%)
  4. Patio (86%)
  5. Ceiling Fans (86%)
  6. Full Bath on Main Level (83%)
  7. Hardwood Floors on Main Level (82%)
  8. Garage Storage (81%)
  9. More Insulation than Required by Code (81%)
  10. Eat-in Kitchen (80%)
  11. Walk-in Pantry (80%)
11 Home Features That Help You Sell Faster - Realty Advisors Miami LLC

How to Prepare for a Home Inspection

You may have your home pre-inspected so you can fix problems before the official inspection takes place once you have received and negotiated an offer. You may even consider pre-inspecting it even before listing the property! Either way, here are the most common items you should prepare for:

How To Prepare For A Home Inspection - Realty Advisors Miami LLC

Reduce Home Strain With These Quick Fixes

The additional time that Americans are spending in their houses can lead to excess strain on different rooms of your home. Review these tips to get to know the areas to keep a close eye on and how to relieve strain to avoid overuse.

KITCHEN

  • Clean your dishwasher filter to increase the longevity of your appliance.
  • Make sure your smoke detector works and the batteries are fresh during a time when you’re cooking more often at home.

BATHROOM

  • Check under the sink manually for leaks or add a smart sensor to monitor them in real time with alerts sent directly to your smart phone.

BEDROOM/HOME OFFICE

  • Consider replacing your light bulbs with LEDs to use one-fifth the amount of energy as you were using before.

LAUNDRY ROOM

  • Review each hose in your washer and dryer for its condition by looking at the rubber exterior for cracking or brittle bits.

YARD/EXTERIOR

  • Fix any water drains that may have flooded during last year’s hurricane season to divert water away from your home.
Reduce Home Strain With These Quick Fixes - Realty Advisors Miami LLC

The Hidden Value of Home Ownership

Owning a home doesn’t just help you build wealth. It also impacts your life and your children’s lives. Here are some of the specific benefits homeowners may enjoy over renters:

  1. Homeowners are healthier and live longer
  2. Owning a home reduces the likelihood of divorce
  3. Homeowners are less likely to suffer from depression
  4. City homeowners are less likely to be victims of crime
  5. Children of homeowners often achieve a higher level of education
  6. Children of homeowners are likely to earn more over their lifetimes
  7. Children of homeowners have significantly lower teen dropout and pregnancy rates
  8. Homeowners are more likely to be involved in neighborhood groups
  9. Homeowners have a better understanding of politics and are more likely to vote
The Hidden Value Of Homeownership - Realty Advisors Miami LLC

8 Tips for Buying a Vacation Home

A vacation home is a perfect way to relax and unwind. If you are considering the purchase of a vacation home, check the following tips to get you unwinding in no time!

  1. Consider how you’ll use the home. Will it just be for family and friends, or do you plan to rent it as well? And realistically, how many times will you use it per year?
  2. Evaluate locations. Are there enough amenities and attractions to keep you— and renters—coming back year after year?
  3. Talk to the locals. What do they love about the area? What’s changing? And what’s it like during the off season?
  4. Study local laws. If you plan to rent the home, local rules may restrict rental periods or cap the number of days you can rent each year.
  5. Calculate costs. Along with mortgage, insurance, property taxes and association or amenities fees, plan for wear and tear. (A good rule of thumb: Budget 1½ percent of home’s value on repairs annually.) And if you intend to rent, add the cost of a property manager.
  6. Talk to an accountant. This person can advise you on such issues as the tax implications of rental income and changes in federal tax laws that could impact deductions.
  7. Test before you buy. Once you’ve settled on a spot, you should rent in every season so you can gauge busy and slow times.
  8. Work with a REALTOR®. Pick someone who knows the community and who can recommend the other experts you’ll want to consult.

Sources: Bankrate.com, Money magazine, HGTV, biggerpockets.com