12 Tips for Maintaining your Home’s Value

ING_19022_02413 [Converted]Maintenance is the keyword!  Nothing can bring the value of your home down more quickly than neglect and disrepair.  Don’t wait until you are ready to sell your home to make repairs and keep up maintenance on systems that need regular attention.  In the end, it will be much more cost effective to address concerns as they arise. Regular preventative maintenance in the following areas can save you a fortune and secure the value of your home.

  1. The Exterior of your home, when neglected, can quickly fall into disrepair.  Especially in areas where the weather is harsh.  Quickly repairing damaged wood work, siding, trim, stucco, stone, and brick will keep your home looking updated and fresh. Immediately taking care of small issues that come up will prevent them from becoming major problems in the future, saving you time and money in the long run.
  2. Landscaping lends to the curb appeal of your home, and when the lawn and flower beds are left to themselves, it shows! A lush green lawn, free of weeds and debris, is ideal. Clean flowerbeds with fresh mulch and trimmed shrubs will set the stage for your home.  Again, when regularly maintained, the landscaping is easier to manage.  Once it gets away from you, it can be costly to get it under control.
  3. Concrete work on sidewalks, patios, and driveways should be kept in good condition. Taking care of small cracks or other issues while they are small will keep your walkways and outdoor areas looking preserved and inviting.
  4. Exterior screens, windows, and doors not only add charm and interest to your home, but also serve a purpose. Door gaskets, weather stripping, and screens free of tears will protect your home from unwanted pests and save on utility bills.
  5. Interior walls, trim, and paint can often go unnoticed when they begin to deteriorate. Paying close attention to detail in this area can keep your home looking updated, and can save you a great deal of work or money when you decide it’s time to sell.
  6. Wood flooring can wear in high traffic areas, and diligently maintaining the beauty of your wood floors can even increase the value of your home. Products which are designed to protect wood can easily be applied to the flooring as needed.
  7. Carpet can be one of the hardest items in your home to maintain. This is an area where regular maintenance can pay off.  Regular steam cleaning and protective products can make a big difference.
  8. Tile and grout, whether on the floor, kitchen backsplash, or shower, should be cleaned and maintained frequently. This is another item that can be costly to refurbish if let go for too long.

 

  1. HVAC system maintenance should be done annually and can lower your energy bill, prevent breakdowns, and add to the life of your equipment. Likewise, filters and such should be replaced regularly to keep your system running at optimal efficiency.
  2. Plumbing issues are never fun, and can even lead to damage beyond comprehension.  However, regular maintenance of your system can keep it working properly, minimizing problems that could require time, money, and headaches in the future.
  3. The Electrical System in your home is an intricate system, and better left to a professional.  An annual inspection can help ward off any future catastrophic situations.  Flickering lights or a breaker that frequently trips could be warning signs and shouldn’t be ignored.
  4. We tend to think of light fixtures, plumbing fixtures, outlet covers, and knobs and pulls as cosmetic features in our homes.  However, when they are in disrepair, especially light and plumbing fixtures, they can cost us unnecessary waste of energy and money.  Quickly replace fixtures with damage or in poor working condition.

Preventative maintenance on your home can maintain not only the systems within it, but also the value of your home.  Letting things go around the house can end up costing you much more than regular maintenance and repair of items as they occur.  Persistence in insuring your home’s value by maintaining it will reward you in the end.

Should I Rent or Should I Buy?

Handsome businessman in eyeglasses doubting about something

Rent or Buy?  That is the question.  There may be times in life when the decision to rent is the preferred option, but there are valid reasons why buying is usually the better choice overall.  Short term renting, two years or less, may be necessary in uncertain times.  If your employment is temporary or unstable, it could be best to delay home ownership.  Moving around from city to city or state to state could be a reason to hold off as well.  Once you purchase a home, you will want to stay in one place for more extended periods of time.   Other reasons such as a significant change or loss in your life can be a time of transition, and waiting to buy a home could prove to be wise.  Likewise, renting a home while saving and preparing to be a homeowner is a necessity for most of us.

But, make no mistake. For the majority, especially in today’s market, purchasing your own home opposed to renting one is usually the better choice.  Few investments can be as rewarding as owning your own home.  Having creative control over your domain can be considered a big perk for some.   Most likely, we’ve all had to rent at some point in life, and we know that making a rental feel like a real home can be challenging.  Even so, the main reason it is best to buy is the fact that you can build equity and save money in the end.   Of course, the real estate market can be somewhat slow and steady, making it a fairly risk free investment.  And, you have to provide yourself and family with a home, so why spend your hard earned money paying someone else’s mortgage?  The monthly cost of renting usually exceeds the amount of the monthly mortgage on a similar property.  Building your own equity, you will be reaping the financial benefits of homeownership.   And, let’s face it! The tax deductions that come along with owning are much better than with renting.  With that said, it’s important to “buy smart.”  After all, your home is an investment, and you must approach it as so.

In order to insure that your home is an asset, you will want to take the necessary steps to “buy right” from the very beginning.  This means selecting the best real estate agent and a reputable mortgage company as well as choosing the right home in a neighborhood with a recent history of increasing values.  This will all but guarantee a return on your investment from the moment you close on your new property.

To discuss whether renting or buying a home is the right path for you, contact The Scherer Team today and our expert agents will be happy to assist you! Call us at 888-300-4431 to schedule your complimentary consultation today!

 

Advantages of Selling While Inventory is Low

For Sale Sign Under Home Shows Selling Property
For Sale Sign Under Home Shows Selling Property

If you are considering putting your home on the market with The Scherer Team, there may not be a better time than right now!  Here at Keller Williams Realty, we want you to know that certain conditions, which are referred to as “a seller’s market,” can create a, so called, “perfect storm” for homeowners who are ready to sell.  There are four major advantages to listing your home while inventory is still low:  Decreased competition, higher prices, more bargaining power for the home seller, and less days on the market.

Decreased Competition for Home Sellers

Low inventory of single family homes in the current Palm Beach County real estate market means the competition is low and the demand is high.  Buyers looking to relocate or downsize will have fewer homes from which to choose.  When inventory is low and the pendulum swings in favor of the homeowner, this can only mean one thing…..

Higher prices

When competition is decreased among sellers, it is automatically increased among buyers.  This usually leads to top dollar offers and reduces the amount of “low ball” offers you will receive.  Many times, the competition between buyers leads to bidding wars which we all know can benefit the seller tremendously.  Not only does this competition lead to higher prices, it also leads to……

More Bargaining Power for the Home Seller

When the competition is steep, buyers will inevitably lose a little of their bargaining power.   This leaves the ball in the seller’s court.  Not having to bow down to every demand the buyer makes will relieve a little stress when it comes time to negotiate the final price, repairs, and the closing date.

Less Days on the Market

When there are fewer homes for sale in Boynton Beach, buyers are pressured to act more quickly to eliminate the risk of losing out to another prospect.  Chances are, the buyer has learned this lesson the hard way and is ready to step it up a notch.   In order to make their offer more appealing to the homeowner, they often realize they need to speed up the entire process.  Not only will the homeowner benefit from a better price, it is highly likely that they will also benefit from a quick close as well as less hassle along the way.

In conclusion, the market is ever changing and sometimes extremely unpredictable.  So, if you are considering listing your home, it would be a wise decision to go ahead and move forward.  If you do decide that you want to take full advantage of the low inventory market, Laurie Scherer-Abel and our team can you walk you through the process and share many valuable home seller resources in order to get you started.