As a homeowner, you typically want to make the place your own by doing home improvements. But what projects are usually done? And for #MoneyMonday, we’ll look at how it’s paid for.
Projects are typically done on a large scale. Here’s what gets tackled:
43% focus on outdoor projecs
31% are bathroom remodels
28% on the unfortunate home repairs
26% done on kitchen remodels
16% narrow in on the garage
5% are about the pool
And how are they paying for it? A surprising 62% of homeowners tap into their savings! (Way to go, financially savvy owners!) For those who don’t have the cash resources, they turn to the following to cover their house project:
When you are selling or buying, the value of houses can be affected by so many things.
Of course, location and neighborhood comps affect the going price of the home, but other things you may not have thought about can affect it as well. These include: privacy, frontage length, the backyard sloping down, and more.
Be cautious of appraisals from Trulia, Redfin and Zillow.
More and more, online appraisals are becoming the way to get a value estimate on your property. Then real estate agents who are desperate for listings, will agree to over-price the listing to appease the seller, due to these online appraisals being overpriced. This typically only ends in an expired listing — or worse: sell the property below value, after reducing the price several times while the days on market pile up! Due to upgrades and repairs that can cause values to vary, a physical inspection of the property by an Realtor/agent or appraiser is necessary.
To always get the right value, all you have to do is call an experienced Real Estate Agent and or appraiser to get an estimated value closer to what the home will actually sell for — resulting in selling for top-dollar.
I am here to help you — call me now: John A Silva, 619-890-3648. 26+ Years Experience & a San Diego Native.
“You may hear the term “financial plan” and imagine thousands of dollars spent and hours in a stuffy broker office discussing the benefits of a diversified portfolio. Or maybe you think financial plans are only for those who, well, have finances. Not so and not so. Every adult needs a financial plan, no matter how much money you have (or don’t have) and how old you are.”
Think through your finances and set up a plan. Consider the following questions:
What’s your current financial situation?
Where do you financially want to be in the short-term, and also in the long-term?