6 Common but Costly Homeownership Mistakes

As a new homeowner, there are six mistakes you should be sure to avoid.

Want to sell your home? Get a FREE home value report

Want to buy a home? Search all homes for sale

In your first year of homeownership, there are six key mistakes that could cost you a lot of money. Today, I’ll be going over these common missteps. 

1. Going with the lowest bid. Getting multiple bids is important to make sure your home projects are done correctly. Quality matters, so the lowest price isn’t always the best choice. 
2. Submitting small insurance claims. Check with your insurance rep and look at your deductibles. Sometimes, making small claims doesn’t make sense if it will increase your rates. Even an extra $25 a month will add up through the months. 
3. Making improvements without checking the return on investment (or ROI). Before you change anything in your home or make any updates, it’s important to know whether it will be worth it. 
“

Ignoring small issues could create bigger issues later on.

”
4. Throwing away receipts or paperwork. This could cause you a lot of issues down the line if you need to provide proof of a certain repair or proof of warranty. So, make sure you keep track of important paperwork. 
5. Remodeling without doing research. If you want to do a remodeling project, speak with a professional first to find out whether it will actually pay off. 
6. Ignoring small items on your inspection list. Every home out there will have small issues that need to be amended. It is important that you don’t ignore the little maintenance items your home may need. Ignoring small issues could create bigger issues later on.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Does Living Near Starbucks Increase Your Home Value?

There are a few odd and trendy features of your home that can increase the value of your home.

Want to sell your home? Get a FREE home value report

Want to buy a home? Search all homes for sale

Recently, I was asked a question that kind of stumped me: “If I live close to a Starbucks, will that increase the value of my home?”

I really had to think about it and do some research, and I found out that Zillow did do a survey on the topic in 2015.

Pulling data from between 1997 and 2014, they found that homes within a quarter mile of a Starbucks had increased in value 96% during that period. Was that caused by the increasing market in that period, or was it caused by the Starbucks itself? I still don’t know exactly where that number falls, but I don’t think it could hurt your home’s value at all. 

“

Pulling data from between 1997 and 2014, studies show homes that were within a quarter mile of a Starbucks had increased in value 96%.

”

Another surprising factor that might increase your home’s value is its color. Another survey shows that homes with kitchens that have been painted blue, as opposed to white, sold for $1,800 more. If they had a baby blue or periwinkle bathroom as well, those homes actually sold for over $5,000 more.

Further still, other trendy features can add value to your home: farmhouse sinks and barn doors. Barn doors, specifically, are trendy features. Zillow looked at over 2 million homes that were sold nationwide with the words ‘barn door’ in their listing sold 57 days faster than the average and for 13% more.

Finally, how close to the city are you? We’re seeing that homes that are in an urban area versus a suburban area will, on average, be worth 35% more in value.

If you have any questions or feedback for us, feel free to reach out to us. We love to hear from you.

5 Ways to Prepare Your Home for the Market

If you plan on listing your home in 2018, there are five things I recommend you do in preparation.

Want to sell your home? Get a FREE home value report

Want to buy a home? Search all homes for sale

Are you thinking of listing your home in 2018? I’ve been getting so many calls and making so many appointments already in these first two months of the year.

Today, I want to bring you a few tips you can use right now if you plan to put your home on the market this year. 

The first thing you can do is neutralize the house. Bright and unique paint colors are fun, but when you list your home you want to reach a broad audience. Neutral colors will give you a wider appeal. 

Buyers want to envision themselves in your home. You live in your home one way, you put it on the market in another. Before you put your home up for sale, consider stowing away some personal touches that may be unique to you. Depersonalizing will do a lot to boost your listing’s potential.

“

You can tell a lot about a home by the condition of the front door.

”

Decluttering is another tip that I can’t emphasize enough. If you’re thinking of listing in the early spring, why not pack away summer clothes you won’t be using while you’re living there? Go ahead and put away the items you aren’t using. This will open up a lot of space in the home and help to show off its features. 

Don’t forget the exterior of your home. Here in Colorado, a piece of advice I stand behind is that you shouldn’t plant flowers before Mother’s Day. If you’re listing before then, there are still ways you can boost your curb appeal. Add fresh mulch, make sure your sprinkler system is in working order, and add a fresh coat of paint to the front door. You can tell a lot about a home by the condition of the front door, so make sure yours leaves a positive first impression. 

Finally, make sure big projects like kitchen or bathroom remodels are worth the investment by speaking with a professional about what kind of returns you will see. 

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.