Tips and Advice for Staging a Home Inside and Out
Staging a property is vital to ensure you can compete with the modern market. The buyers are slowing down, and property prices are unstable, so if you want to sell your home for as much as possible, you need to put in some work to make it worth it. Staged homes sell faster than their unstaged counterparts while also taking in more money from the sale: but you have to do it right. If you don’t, you could end up hurting your property’s value. These are the top points to know if you’re staging your home and how to make a difference in your property’s value and appearance. Deep Clean Inside and Out Regardless of whether a home is five years old or over a hundred, buyers want to feel like they’re the first people who have ever lived there. They don’t want to picture other people using the kitchen in the home’s past or who else may have used the bath that they’re climbing into. Deep clean every room and surface of your home. Start from the highest points and work your way down through the house. This will save you from the heartache of watching endless dirt and grim fall to the freshly mopped floor while you clean ceiling fans. Powerwash your home’s exterior, starting with sidewalks and driveways and the work on the brick cladding or siding you have. Make sure to avoid spraying up into wood shingles or against any windows or glass. Highlight the Details You Love What areas of your home need to be treated like showstoppers? Use lighting, furniture placement, and even wall art to guide eyes toward the locations of your property where you want them to look. This could mean showing off higher ceilings, using under-cabinet lighting to show off the amazing counters in your kitchen, or using acoustic panels to make bedrooms feel quiet and secluded for rest. Although this can take a little creativity, it’s a great way to boost the perceived value of your home. The Furniture Needs to Look New Unless you have a household of brand-new furniture already, it’s time to consider renting new items. You should make your space look comfortable and inviting but still fresh and new. Although you could always buy new furniture pieces, the amount of work that goes into having to sell them after, usually for a loss, can be frustrating. Renting the furniture lets you spend less, work less, and typically get sets that already make sense together. Keep Your Lawn Shining Image Source Curb appeal is as much a part of staging as filling your home with furniture is! If your property is spooky looking on the outside, nobody is going to want to take the time to find out that the inside is like paradise. This is an incredibly affordable fix for most homeowners. Put in the time to mow and edge your grass, pull weeds, trim shrubs, and put in some plants and flowers that complement your property. Make a property that will show up well on photos of your home in listings. Make Necessary Repairs From looking up different drywall corner bead types to color-matching wood stains, you need to take the time to make repairs so your home won’t scare buyers away. Consider having a home inspection ahead of time so you can get some pointers on what changes to make and what to avoid. Every property is different, but most buyers want one with as little work as possible. Add Pops of Color and Intrigue If you’re trying to figure out how to make your stone veneer fireplace stand out, it’s time to put color to work! Color is one of the most powerful tools in our arsenal, giving people feelings and ideas that they don’t even recognize the origin of. Green is soothing, red makes people hungry, and muted blue can boost creativity, so spread these throughout the home in a tasteful way. Remember to avoid making any room too busy or clashy. If you have a cool-toned stone fireplace, go for a cool-toned wall behind it, with maybe just a little more vivid color to make them both stand out. Make the Entrance as Entrancing as Possible Image Source Your porch should leave people begging to see the rest of the home! Add a fresh coat of paint to any wood, update the lighting, add a bench or other seating, and some simple decor to boost it a little. If you don’t have a full porch, you can still dress up your home’s entrance so it feels special, even if that means a seasonal wreath to match whatever time of year it is. You want buyers to feel like they’re invited and wanted inside the home. Your Home Can Sell Quickly and for More Money! When you’re ready to sell, it’s time to pull out all of the stops. Stage your home with a professional company that knows what they’re doing, and watch your property fly off the market in no time! – Sam Willis Sam Willis is a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource.
Tips for Talking with Your Loved One about Assisted Living Decisions
When choosing an assisted living home, you need to consider many factors and find the best fit for your loved one in terms of price, location, services, and atmosphere. How much will it cost? Will I be able to afford it? Can my loved one afford it or rely on Medicaid? What are the costs beyond rent? Here, we address these questions and make a good decision regarding your loved one’s care. Important Aspects to Consider There are many important questions you’ll need to answer when seeking the right care for your loved one. Here are some of them along with some things to consider as you answer them for yourself. Will you or your loved one need memory care? Memory care is a type of specialized assisted living facility that is geared toward elderly patients or those with Alzheimer’s disease and forms of dementia. This type of specialized care can be beneficial for the person suffering from dementia by reducing symptoms like confusion and anxiety. In order to enjoy moving forward with memory care, it is important to research information about all the different aspects of memory care such as costs, benefits, and location. Will the new resident need help with day-to-day care? As Frontier Management explains, there are many everyday tasks which can become challenging in our senior years, like dressing, bathing, managing medications, and toileting. Those who are suffering from incontinence will require the assistance of a licensed nurse or aide capable of helping with cleaning up accidents and dealing with other hygiene needs. Depending on the severity of your loved one’s situation, you may need to find a facility equipped to deal with both physical and mental aspects of their care. How to Pay for Long-Term Care If you or your loved one require long-term care, there are several ways to pay for nursing home costs in the long term: Option 1: Sell a Loved One’s Home to Fund Their Stay If you’re looking to pay for a nursing home with money in your own pocket, selling your loved one’s current home or other assets might be an option. However, depending on the situation, it may not be easy. First, your loved one will have to have enough equity in the home to cover the costs of a nursing home. You can get an idea of what the property is worth with a quick online search, and use that information to calculate an estimated sales profit number. Look into quick and easy upgrades that can help with the appraisal and sale, like adding appealing bronze plaques to the front for the home number. Second, you’ll need to consider the ramifications this may have on their Medicaid assistance. Medicaid will review finances carefully, and there could be penalties if the property is sold in certain circumstances. Consult an attorney or Medicaid professional on this. Coming to a decision about senior financial matters can be rife with difficult conversations with your loved one or other family members. It’s wise to keep in mind negotiating strategies when having these discussions. Try to keep in mind that you’re acting collaboratively in these situations. Everyone wants what’s best for the senior loved one. Avoid getting distracted by petty squabbles. Option 2: Turn Your Loved One’s Home into Investment Property If your loved one doesn’t need a lot of cash upfront, then consider updating and renting out their home instead of selling. Or you could sell their home and contact Franklin Investment Realty to use that money to purchase a different house as an investment property. Going this route leads to a steady stream of income, which can be helpful for paying monthly dues at an assisted living facility. Option 3: Utilize a Reverse Mortgage This may be an option if you’re looking to pay for your loved one’s long-term care bills with their own home. A reverse mortgage allows you to convert your home equity into cash, which can then be used as needed. To qualify, they must either own or have legal rights to use and occupy the property (also known as “having a vested interest in the property”) or already live there. Like many medical-related decisions, this is one that should be discussed with a financial professional and an elder law attorney. Option 4: Utilize Medicaid Assistance to Pay for Nursing Home Costs This is probably the most common way families pay out-of-pocket for nursing home costs. If your loved one is accepted into Medicaid, you’ll have to pay a portion of their costs out-of-pocket and the government will cover the other part. Many states require that your assets be depleted down to $2,000 or less before you qualify — so selling their house may not always be an option. However, there are some states (Florida, for example) where your property doesn’t count toward this asset limit since it’s considered a “protected exempt asset.” This way, you can retain your home in case it’s something you want to pass on to your kids. Find the Right Option for Your Family In conclusion, there are several important aspects to consider when choosing an assisted living facility or nursing home. You should also consider how accessible the facility is for family members as well as any other non-medical needs they may have. Explore the options available for paying for the transition, and then look for trustworthy care providers. – David Dixo
How to Navigate the Stress of Moving and Starting a Business
If the idea of starting a business and moving at the same time gives you anxiety, take a moment to plan before you make any major decisions. By putting a few measures into place now, you’ll make things easier on you both as you launch your startup and change homes to accommodate your entrepreneurship efforts. Get to know the housing market. No matter where you live, chances are the housing market is in a period of transition. This doesn’t mean that you can’t gain a bit of insight by looking at home prices for the last 30 days. Make sure to compare home prices in the neighborhood you’re interested in and have the amenities you’re looking for. Start your business slowly. As much as we hope success will come our way, we have to start slowly if we want to grow sustainably. You might begin working part-time on your future business. This is also smart if you plan to buy a home; quitting your job before closing may hinder your ability to take get financing. Another smart move is to start an LLC before you move into a growth pattern. Forming an LLC gives you some management flexibility and requires very few steps. You don’t even need an attorney, and you can save yourself some money if you research local LLC formation rules and do-it-yourself online. Confirm codes and regulations. Just as you have to make sure that you know the laws around LLC formation, you should also touch base with your realtor and/or the city regarding home-based business rules and regulations. You also want to talk to your homeowner association, if applicable, especially if your business will bring traffic into the neighborhood. If you plan to have more than one or two vehicles at your home at any given time, you may also need to build a parking lot – which costs a minimum of around $10,000 – and this may be prohibited by your HOA bylaws. Get help with your business. We can all use a helping hand sometimes, and this is never truer than when we are trying to launch a new business. Although there are many things you can do yourself, such as choosing a name, forming your business structure, and writing your business plan, you may need assistance as you launch and grow. A smart option here is to hire a freelancer, which is a specialist in a specific area that set their own pricing and only gets paid for the job they do. In other words, you are not committed to a 40-hour-per-week salary. Take some classes on your own time. If you want to go back to school while you’re moving house, it can be done — but it will take a little work. Going back to school online while moving is a big undertaking, but it can be very rewarding. Pursuing a degree in information technology, for example, allows you to develop valuable skills and knowledge which could open new opportunities for career advancement and growth. Online education makes it much more convenient for busy individuals who live hectic lives or have family commitments, meaning that learning can take place wherever there’s an internet connection so it won’t be disrupted by the movement from house to house. With the bachelor of science in information technology degree at your disposal, you will have the tools to go above and beyond what many people consider a “standard job.” Other Tips To Get You Going Research the market. Perform a competitive marketing analysis. If you’ve never done so, IMPACT offers detailed instructions on how to collect and interpret information on your competitors. Reduce stress when selling your home. If you’re selling your current home in the midst of buying a new home and starting a business, reduce stress here by ensuring that your listing is priced right and is presented online in its best light. Find a coworking space. According to Coworking Mag, there are many benefits associated with working in a communal space. These are flexible, offer lots of opportunities to network, and can put you in touch with like-minded individuals. A co-working space will also come in handy as you transition from one home to the other so that you don’t have to skip a beat with your customers. Is it going to be easy to buy a house, sell a house, and start a business at the same time? No. But you knew that before the idea even swirled through your brain. This doesn’t mean that you can’t relax some of the stressors that can make all three experiences less-than-positive. Remember, start by getting to know the housing market and forming your business structure, but don’t be afraid to get help at home and work so that you can focus on each when you are needed the most. In the market for a new home or investment property? Let Franklin Investment Realty help you find exactly what you’re after. Stop by our main page and send us a message today! – Shirley Martin
Tips and Advice for Maintaining a Home
One of the most important parts of owning a home is taking the time to maintain it, so it lasts longer and looks fantastic. Many have fallen behind on the art of home maintenance, but it’s never too late to start! If you follow these simple small tips, you can keep major problems from happening down the line. Check Pavers and Concrete This step is easy to do when following through with other lawn work or outside chores. Simply look at the ground pavers, sidewalk, and driveway on your property and make sure it’s in good condition. If you see any cracks, it’s vital that you get these repaired as soon as possible. When winter sets in, moisture can gather in these cracks and then expand as it freezes and crack further. The average winter season goes through countless thaw and freeze cycles, so a tiny crack could break an entire paver in half by the time spring arrives. Clean Showerheads and Taps This step is easy to do and should be done once every month to two months, depending on how much use the faucets and showerheads are getting. To do this, mix baking soda and water and apply this paste directly to the shower head and tap. Let the paste sit for around thirty minutes, and then wash it off by turning on the tap and wiping it with a clean cloth. If you want to take it further on taps, you can remove the filter to make sure there’s no build-up, but this isn’t as necessary. Ensure Features Are in Great Condition The features on the exterior of your home are important because they’re often the first part of your property that anyone sees. Check areas like your mailbox, patio, and lawn to make sure whatever features you have are well-maintained. From replacing a cracked birdbath to looking at new mailboxes because yours is old and rusted, it’s easy to make a small change that will freshen up your lawn and keep your property value high. Help Your HVAC System Run Smoothly Your HVAC system is the main thing that keeps your property comfortable through every season. Although it can be an added expense if you don’t already do this, it’s a good idea to take care of it and take steps like swapping out the filters every month or so. Beyond that, consider putting in a radiant heating thermostat so you can better control the temperature of your home. If your home has two floors, you may want to consider putting in a second unit to control the top floor separately. Heat rises, and if you try to heat your entire home evenly, you could be facing a lot of problems. Check Security Features Often Security features can make a huge difference in how safe you feel at home. This means going through and checking if your window locks, garage door, and external door lock all function correctly. If you have a doorbell camera, make sure the batteries on that stay charged and that it’s able to do its job without interruption. Install Attractive and Durable Updates When you’re updating your property, look for both quality and attractive features. This could mean manufactured stone panels that will last for years and look fresh, or it could mean updating to triple-paned windows to block out the weather and harsh conditions. If you’re unsure about a brand, don’t be shy to shop around and look at reviews. You want what’s best for your property, so it’s worth the extra legwork. Ensure Windows and Doors Don’t Leak One of the most devastating blows to any property is if there’s an air leak. This can ruin your electricity bill, allows extra moisture into your home, and can even invite insect life into your property. The best way to check if your windows and doors are leaking is to take a lit candle and carefully carry it near doors and windows while they’re closed. If you see the flame pull strongly one way or another when near an opening, that door or window needs a better seal. If all of your windows or doors are leaking, it might be time to replace them fully, depending on your budget. Keep Your Gutters and Roof Clear How often do you clean your gutters and roof? If you don’t currently have gutter guards, it’s a good idea to consider them since the average homeowner needs to have their gutters cleaned two to three times a year, depending on tree coverage and species. This can be dangerous for the homeowner to take on and expensive to have professionals complete. Your Home Can Run Smoothly When Well Maintained By taking the time to create a plan for yourself and keep up with maintenance, you can help your property last longer and look amazing while it does. Follow some of these tips if you want your property to thrive! – Sam Willis Sam Willis is a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource launching in Fall 2022.
Your Home Renovation Starter’s Guide
Home renovations can be a very daunting task. There are many things to consider, from the initial design stages to the finished product. Homeowners need to be well-informed about the process to make the best decisions for their families and homes. Here we outline a few things to keep in mind when planning a home renovation. Should You Add An Addition to Your Home? One popular home renovation is to add an addition. This can be a great way to create additional living space, but Fixr.com notes that it’s essential to consider the costs and the impact on your home’s resale value. If you’re planning on selling your home soon, an addition may not be the best option. You’ll need to hire a contractor with experience in major home renovations. Remember that this renovation can disrupt your daily life, so plan accordingly for the construction noise and mess. As with the other types of renovations listed here, you can expect your contractors to use various software like estimating apps and construction management software, such as with this solution. Contractors can use construction software with a built-in customer relationship management (CRM) system so they can easily communicate with customers in one place while tracking responses and follow-ups. This is good news for you, as you can expect correspondence with your contractors to be efficient and timely. Add a Home Office A common reason for wanting an addition is to add an extra room or two, such as a home office. This can be a great way to create a dedicated workspace, but it’s essential to look at the noise level and lack of privacy if your office is near a high-traffic area of your home. When reviewing locations, consider an area with lots of natural light. If that’s not possible, adding skylights or extra windows is an excellent way to brighten the space. Basement Renovations Another popular home renovation is to finish or remodel your basement. This can be a great way to add extra living space, but it’s essential to consider the costs and the impact on your home’s resale value. Many homeowners finish their basements for enjoyment, but it’s still necessary to factor in the prices of materials and labor. If you’re planning on selling your home soon, a basement renovation may not be the best option. HVAC and Roofing Two essential elements of any home renovation are the HVAC system and the roof. These are two of the most expensive and complex systems in your home, so it’s essential to consult with a professional before making any changes. Many homeowners choose to upgrade their HVAC system when they renovate, which, as Pendley Heating & Air Conditioning points out, can save money on energy bills. The roof is another essential element to consider. A solid roof is necessary to protect your home from the cold and snow. If your roof is over twenty years old, it’s a good idea to have it inspected by a professional and complete any necessary repairs. New Windows and Doors Another critical aspect of any home renovation is the windows and doors. The weather this time of year can be brutal, so it’s essential to have good quality windows and doors to protect your home. If your home is over twenty years old, the windows and doors are likely outdated and may be in need of replacement. Many homeowners choose to upgrade their windows and doors to energy-efficient models, which can save money on energy bills. Home Renovations Are An Investment Home renovations are a significant investment, both in time and money. If you’d prefer to buy a new home with a stellar home office, contact Franklin Investment Realty for help finding the perfect location. Philadelphia-based Franklin Investment Realty provides clients with a range of experience whether it’s a purchase of a home to occupy or a property to buy within your self-directed IRA. Contact us today for more info! (215) 382-7368 – Shirley Martin
How Adding a New Deck Can Increase a Home’s Value
Your home’s exterior can make a huge difference in the number of people interested in your home: and how much it’s worth. If you’re interested in boosting the price of your property and aren’t afraid to put in a little extra work, here’s how adding a deck can increase your home’s value! Add Visual Appeal Visual appeal is one of the biggest reasons to add a new deck! Not only does a new deck look fantastic, but you can paint or stain it any color you want. This allows for a custom and gorgeous look that will set your lawn apart from anyone else’s. This type of addition is especially valuable if your lawn is otherwise unremarkable or has low spots that gather water near your home. The deck will give you a dry and comfortable place to sit and a way to hide drainage as you guide this water away from your property. Increase Usable Outdoor Space Since 2020 there’s been a large emphasis on usable exterior spaces that allow homeowners to get the most out of their homes. Instead of letting your home be uninspiring outside, you can enjoy a new and usable outdoor space that looks fantastic. This will ensure you get more benefits like vitamin D and can enjoy the fresh air. Over time this is proven to improve mental and physical health and can be awesome for everyone within your home. Affordable Materials Mean High ROI How much of a return you get on your investment depends on how much you paid for your lawn or rooftop deck and whether the market will be able to add that value to your home. Most decks add around 80% of the price of the build back into the property. Although this may not seem like a lot, if you built your deck five to ten years ago, that means you get to enjoy using it for that period of time and then enjoy selling your home for more money. Don’t cut corners, though! Get materials that are high value and able to last for as long as the future owners will need them. Can Add Square Footage to Property How large is your home? If your deck is large enough, you can often add its space to the square footage of your property. This is an incredible chance for anyone with a smaller house to spread out the area a little and possibly boost the value of their home without having to build an entirely brand-new bedroom onto the home. This can vary from state to state, so look into local laws and guidance, and work with a professional realtor before you decide to follow this update. Makes Home More Interesting to Families If you’re planning on selling your property any time soon, a deck will add a lot of valuable interest to your home. Buyers will love the idea of spending time outside with their loved ones and will instantly picture what their life will be like if they bought your home. Keeping up to date with the best polyurethane for decks you can find, and ensuring it always looks fresh and new, regardless of how old your patio is, is important as well. Nobody wants to buy a property with a rotting or old deck that they’ll have to replace or take down in a matter of years. Safer Area in Backyard In many areas, there are tons of risks within a backyard, from puppy poop to fire ants and even scorpions if you’re in a place like Arizona. Adding simple cedar deck boards and creating a gorgeous deck will give you a chance to pull up and away from your lawn. You can still enjoy it and get the most out of the outdoors without having to worry about where you’re stepping. Adding materials like hog wire deck railing makes it even safer, ensuring nobody falls or trips when they’re on your deck. Great Entertainment Space Entertainment is a must! We all love having friends and family over, so creating a space that’s not only a focal point but also attractive for your friends and family to visit will make a huge difference. You can take this even further by adding a grilling and outdoor kitchen area on your deck. Over time awesome memories will be created here, and it’ll feel like the main space of your home. It’s vital that if you do this, you ensure your wood is treated often and that your property is able to handle anything that’s thrown at it. This is especially true if you have more than ten people in any gathering on your deck. A New Deck Can Change Everything Whether you’re eager to sell soon or you’re trying to create a property that will be a great nest egg eventually- your deck matters. Add value by building this great entertainment space soon. Sam Willis is a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisors, a new construction industry resource launching in Fall 2022. – Sam Willis
Durable Renovation Projects to Reduce Maintenance
Maintenance can be one of the worst parts of any property. We all want a home that will last and look great while also being cost-effective: but is that realistic without putting in a ton of constant work? It can be! These are some of the best ways to get your property into great condition and halt the need for tons of maintenance! Windows That Can Handle Anything Your windows can be the best or worst part of your property. If they’re loose and leak air, you know that your heating and cooling bill will be wildly expensive at all times. If you’re struggling with these bills, consider updating to storm windows. Not only are storm windows more likely to stay sealed for longer regardless of weather and surroundings: but they’ll also protect your property if you’re in an area that deals with hurricanes, tornadoes, or thunderstorms. Of course, storm windows cost more than the average window: but it’s worth it. Updating Your Appliances How old are your appliances? If you’ve had to call someone out to help with your dishwasher more than twice in the last year, or your oven feels like it’s letting out tons of heat and isn’t cooking your food as evenly as it used to: it could be time to update your appliances. This is an expensive fix: but you don’t have to worry about that expense for long! Going for energy-efficient appliances means that your home will be comfortable, and your electricity bills will stay lower than you’d ever expect. Replacing An Older Roof How old is your roof? An older roof will let out far more air and cause leaks, make your home more susceptible to rodent and insect life, and can be generally hazardous. If you’ve been spending years using a roof cover board and doing one-off repairs to try and make your roof last longer, it could be time to give up the chase and replace it full out. This replacement will give you the chance to kill off the amount of maintenance you need to complete on your home. Composite insulated roof panels can also boost how well your home keeps the temperature. Keeping an Eye on Your Siding How old is your siding? If you notice you have issues with ants, or your home seems to be getting a lot of noise pollution:, it could be time to update your siding. By looking at it, you can check to see if it’s warping, bent, discolored, or cracked: all signs that it’s time to update it. Updating your siding will fix a host of other issues and allow you to have a low-maintenance home with lower monthly bills to boot. Updating Your Lawn With Native Plants Plants that are native to where you live are one of the best things you can do to reduce maintenance and work on your property. These native plants will ensure your lawn doesn’t flood and, instead, the water into the soil. They can also reduce the amount of work and watering your news to do on your lawn since these plants will already be acclimated to the surroundings they’re in. Replacing an Older Garage Door How old is your garage door? An older one will be worse at keeping out moisture and insect life and can even get stuck open or closed: making it hazardous for whoever is in the garage. Replacing this door is also a home renovation project that offers the largest return on investment and gives you the chance to update your property’s look. This is a must to avoid future trouble. Repairing Cracked Concrete Cracked concrete is going to hurt you in the long run. When it goes through freeze and thaw cycles, these cracks will get larger and larger until you have to replace the entire slab. Instead of ignoring them, or working around them, consider either repairing the cracks: or replacing the pavers with some that are designed to be cracked. These come in gorgeous patterns that can allow them to move more fluidly with changes in the ground without cracking and can last longer. Swapping Carpet for Sturdier Options You may love your carpet flooring, but it’s not good for you and could be adding to how often you have to replace your HVAC filters. Carpet traps dirt, grime, and dust, and even if you vacuum, it doesn’t give up all of it. Although it may look cleaner than the average wood floor, it’s full of oils and debris that nobody should want to keep on their floor at all times. Beyond this, carpet ages quickly and can go even faster if you have pets or children. Swapping the carpet for hardwood, tile, or laminate can save you in the long run. Your Home Can Be Low Maintenance Although you may have already poured hours of work and time into your property: there’s no reason it can’t start to be lower maintenance starting today! Take the time to follow some of these tips, and make your property a dream to take care of in no time. Sam Willis is a contributor to Innovative Building Materials. He is a blogger and content writer. Sam is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes. – Sam Willis
How to Make Your Rental Property More Desirable
When it comes to investing in rental properties, it’s all about generating income to ensure profit. But like all types of investments, it comes with a risk. Mitigating those risks will require preparation, proper planning, and knowledge. Are you aware of the features that renters look for in a property? Are you sure those features will appeal to them? Whether you want to market your investment property or upgrade your current rental property, you should make it stand out. From significant modifications to minor tweaks, there are many tricks and hacks to make your property more appealing. To get you started, here are three of the most important steps you can take to make your property stand out from all the competition in Philadelphia, PA, and boost your revenue. 1. Hire a property manager You can always decide to manage the property independently, but you should know that managing a rental or even multiple properties is a full-time job. Achieving high returns requires constant attention and assessment of expenses versus the rental value to maintain quality tenants. An experienced and licensed professional will handle all the daily operations as they evaluate all areas with a focus on the long-term goal. You can also hire a backyard landscaping professional to upgrade your outdoors and lawn. But before you connect with a local contractor to discuss the upgrades and request a quote, you can research and assess companies by reading their online reviews. If you’re on a budget and worried about the costs, you can also evaluate which companies offer the best deals or credits for your landscaping project. 2. Fix any repairs This might sound obvious, but it’s easily overlooked. Walk around the property and look for areas that need fixing. Do you see any cracks in the walls? Are there any loose door knobs, light switches, or anything that seems off? Some quick fixes might seem minor, but they can make a huge difference. You want a good reputation and to show tenants that you’re an attentive and active landlord from the beginning – so ensure all appliances are in great condition. Constant maintenance during tenancies is important since it shows you care for your tenants and property; plus, it’s a good strategy to attract quality clients. 3. Video marketing your property If a picture is worth a thousand words, how many is a video worth? Video marketing is one of the most effective marketing techniques. And for other obvious reasons, renters connect more with houses visually, making it ideal for real estate expansion. Start by designing a video showcasing your property to attract prospective tenants. You can use a merge video tool to edit and quickly combine videos and images to design meaningful content. The tool basically allows the user to edit and share the exact moment they want to film/capture. Stand Out From the Competition Designing an appealing rental property can seem overwhelming or costly, but with the tips highlighted in this guide, and a compelling marketing video to attract quality tenants, all the hassle should be worthwhile. If you need a reputable property investment company in Philadelphia, PA, contact Franklin Investment Realty to help you in your venture. – Rhonda Underhill
Tips for Successfully Downsizing Your Home as a Senior
Downsizing is a common move for seniors. Smaller homes are easier and cheaper to maintain, which is why they appeal to retirees looking to save money and simplify life. Plus, downsizing is the perfect opportunity to move somewhere you’ve always wanted to live! By selling your home and buying a smaller space, you can free up cash for your retirement goals and get the most out of your golden years. Here’s how to navigate the downsizing process and ensure your move is a success! Talk to a Local Real Estate Agent Once you know where you want to live, get in touch with a real estate agent who is familiar with the area. A local real estate company like Franklin Investment Realty will help you find the perfect downsized home in your desired area. A great real estate professional can also help you determine how much money you can get for your existing home so you can arrive at a realistic budget for your new purchase. Consider Your Care Needs Before you start house-hunting, think carefully about your care needs. Do you anticipate yourself or your partner requiring assisted living or skilled nursing care in the future? If so, you may want to look for homes for sale near good nursing facilities. Skilled nursing facilities provide 24/7 care to people with medical issues. Do some research online to find information about the skilled nursing facilities in your area and be sure to read about pricing information and payment options. If you decide to move into a care facility, consider all the ways you can use your home equity to fund your care. Besides selling your home to cover your costs, you could also rent it out for monthly income. Prepare to Sell Your Home Unless you decide to hold onto your home and rent it out after moving, start preparing it for sale so you can find a buyer quickly. You may want to invest in a few low-cost upgrades to grab the attention of buyers. Certain upgrades might even pay off when you sell, increasing the value of your home enough to offer a return on your investment. Research which home projects are most likely to boost your home value so you can optimize your investment. Declutter Your Possessions If you’re downsizing your home, you’ll need to downsize your possessions as well. Start this process as early as possible. You might be surprised at how exhausting decluttering can be! Divide your home into sections and start small, working your way through single drawers and shelves at a time. It can help to create a couple of different piles for things you no longer want—one for the trash, one to sell, and one to donate. You can always hire someone to help with decluttering if it feels too overwhelming. The Simplicity Habit explains that a professional can help if you’re not sure where to start or have difficulty making decisions about what to keep and what to toss. Look for a professional who will work with you rather than take over the process entirely. Pack Early for an Easy Move The earlier you start packing for your downsizing move, the better. As you start packing up your things, you’ll likely come across more stuff that you can donate or throw away. Getting rid of excess clutter can help you save money on your move! By starting early, you’ll have plenty of time to sort through the last of your stuff and ensure you’re only moving things that will add to your quality of life after downsizing. This will also free up time to focus on all those last-minute moving tasks closer to your move date. Downsizing is a great way to simplify your life in retirement. Whether you decide to move across town or across the country, you won’t regret trading your big house for a smaller space. By downsizing, you’ll have more time and money to build the retirement of your dreams! Are you looking for a small home in the Philadelphia area? Franklin Investment Realty can help! Contact us today so we can answer any questions you have and discuss your home buying or selling needs. Call 215-382-7368 – Rhonda Underhill
Great DIY Remodeling Ideas to Help Sell a Home
Selling a home can be exciting: but listing an unfinished home can leave you receiving far less money than you deserve. Instead, consider updating the home in small ways that can add up to a huge payout. These are some of the best remodeling ideas that will help you sell your home! Updating Your Windows Without Replacing Them We all want brand new-looking windows, but we don’t always necessarily need to replace them. If your windows are still in good condition, and you want to make sure they look great when you list your home: consider a window sash replacement! Your window sash is the part of your window that allows it to move up and down. These can quickly yellow or look rough over time, so replacing them can allow your whole window to look fresh and new. Although you can definitely replace the entire window if you feel the need to, it’s not always necessary: and this step can save you some money, allowing for a higher return on investment. Make The Master Bathroom Paradise What’s the master bathroom of the home look like? If it’s not gorgeous, it’s time to make it gorgeous. Put in the work to create a bathroom where buyers will picture themselves luxuriating and enjoying the soothing atmosphere. You can do this by adding a larger tub if there’s room, repainting, and replacing fixtures with more stylish ones. Remember to use materials that can handle a large amount of moisture in the air. Adding Better Water Drainage Water is one of the most corrosive materials on Earth, so it’s vital that you don’t allow too much of it to come into contact with your home. One of the best ways to do this is to complete a trench drain install. These trenches divert water away from your home, pulling it to a better area off of your property that won’t leave it damaged and at risk of flooding. If you’re not sure where to lead it to, check your local property lines and make sure you’re not diverting it into a neighbor’s lawn. Beautify Your Driveway Our driveway is our first and last point of contact with our homes: don’t allow this to come stained. Instead, look into how to remove oil stains from driveways. You can do this by using cat litter and chemical cleaners or any other absorbent material and a power washer. These will get the oil up and out and will allow you to deep clean the driveway without damaging it. If you want to take it further while you’re renting a power washer, take the time to powerwash any brick or stone on the exterior of your home. You can power wash siding, but it’s vital that you aim the nozzle downwards when you do to ensure that you don’t spray upwards into your insulation and damage your home. Let Nature Help Add Intrigue If your home sits on a lot of nothing but grass, you’re going to struggle to find people who feel inspired by that lawn. Lawn work is the cheapest way to add value and interest to your home while demanding you put in extra time and work. To add intrigue with plants, add flower beds at least six inches away from your home’s exterior walls and add features like shrubberies and flowering bushes. If you live in a climate that doesn’t allow for these: use plants that are native to your area instead. Use Great Stain to Touch Up Your Interior Photo: HGTV.com The interior of your home needs to flow naturally and feel like it’s unified without having to try too hard. One of the best ways to do this is to find the best stain for interior wood and allow your home to match thoroughly. It’s okay if there are one or two variances, but you should try for one main texture or stain. If you’re touching up your interior’s stain, take the time to remove previous stains or paint, sand it down, and prep the area correctly. This will allow the color to be applied in the smoothest way possible. Create Exterior Seating and Lounging Areas More people are looking for outdoor spaces for lounging than ever before. Thanks to so many people feeling cramped and stuck inside from 2020 to 2021; countless house hunters are looking for private outdoor areas where they can sit, enjoy the company of loved ones, and get in some fresh air. To do this, you can either lay down a concrete slab porch, create a gorgeous brick patio, or even build a deck if you can get the supplies for cheap enough while not wavering on quality. Make this a space where people will be excited to live. Every Property Can Sell if Well Planned Whether you’re selling your first home or you’re flipping a property and want to get the most out of it: consider these updates! Not only will they get more buyers in the door, but they’ll also inspire higher payments! – Sam Willis Sam Willis is a contributor to Innovative Building Materials. He is a blogger and content writer. Sam is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.