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Renovate for Real Estate Gains
A home is so much more than a roof over our heads. It is our largest purchase (unless you like thoroughbreds or really expensive shoes), and almost always a significant portion of our assets at retirement. So when it comes to improving your home through renovations, it's important to think beyond cosmetic appeal and look at how those projects can improve your wealth.
We may think of a home as a long-term purchase, but in fact a great deal of us will own a home for just 5-7 years. So look very closely at the money you spend on your home. Look for projects that will add the most perceived value to your home for the least cost. Decision-making should be guided by the big picture – a financial plan that includes your retirement goals, acceptable debt levels, and tax planning. I encourage you to think about potential home renovation projects in terms of three categories: resale value, maintenance costs, and potential risk.
<b>Made for the Market</b>
Some of the design tips you may have picked up watching Trading Spaces might prove useful. The types of changes they make, cosmetic rather than foundational (plumbing, electrical, etc.), may be the best way to improve your home's value without spending a bundle. At very little cost, painting is the No. 1 home improvement. A well-coordinated, modern color treatment can raise the selling price of your home significantly. Other cosmetic projects involving light fixtures, tiles or flooring, wallpaper, or new trim, can also pay off well, particularly in kitchens and bathrooms (dollar-for-dollar, these rooms tend to reward your efforts more so than others).
Pragmatic home enhancements like adding central air or a gas fireplace generally will not earn more in sales value than their cost. These types of additions involve well-known, fixed costs, and depreciation always takes a bite. Luxury items like swimming pools and hot tubs generally score low in terms of resale value. Swimming pools typically add about $5,000 to the home's resale value – not much considering a pool costs about $20,000 to install.
Major house additions should be carefully considered. These usually involve electrical, structural or plumbing work that is hard to recover. What areas pay off most? Bedrooms. Adding a bedroom is a big plus, while a family room can enhance the value of a smaller home. Basements score low; they are still considered by many buyers as a cold, damp place to store things.
<b>Reduce Maintenance Costs</b>
If you plan to spend at least a few more years in your home, you might leave the cosmetic fixes for now and instead look for ways to reduce maintenance costs. Heating and water should be your first targets. It's impressive what you can do with less than $100 of weatherproofing products and a little know-how. Look to http://www.kw-real-estate/ for energy conservation recommendations. Similarly, water usage can be reduced through new fixtures. Check with your local government for possible rebates on certain water-efficient products. It's tough to immediately see the payoff of your expenses here, but look to year-over-year consumption levels (usually displayed on your water or energy bill) to see how you're doing.
<b>Monitor Risk</b>
As with investing, homeowners should not let opportunity supplant a sound evaluation of risk. Home insurance is a given, but how sure are you that your house is up to code? A homeowner I know was sued after a visitor tripped on his steps – turns out the height of each step wasn't quite up to code. One home inspector estimates that each home he inspects has between 5 and 20 code violations, many that are simple to fix.
Also, preventive maintenance is always a wise investment in some areas where the cost of complications is high. Quality roofing, wiring and water drainage (eaves troughs, etc.) will prevent unexpected and costly damage to your home. The idea with these projects is not how much you'll gain, but how much you'll avoid losing.
So remember, next time you survey your assets and investments, give some thought to the value of your home. Look for efficient improvements – changes that will earn or save you more money than they cost to implement. Ask yourself if a pool is a good idea when an extra bedroom might cost the same but increase the value of your home by $15,000 more.
We may think of a home as a long-term purchase, but in fact a great deal of us will own a home for just 5-7 years. So look very closely at the money you spend on your home. Look for projects that will add the most perceived value to your home for the least cost. Decision-making should be guided by the big picture – a financial plan that includes your retirement goals, acceptable debt levels, and tax planning. I encourage you to think about potential home renovation projects in terms of three categories: resale value, maintenance costs, and potential risk.
<b>Made for the Market</b>
Some of the design tips you may have picked up watching Trading Spaces might prove useful. The types of changes they make, cosmetic rather than foundational (plumbing, electrical, etc.), may be the best way to improve your home's value without spending a bundle. At very little cost, painting is the No. 1 home improvement. A well-coordinated, modern color treatment can raise the selling price of your home significantly. Other cosmetic projects involving light fixtures, tiles or flooring, wallpaper, or new trim, can also pay off well, particularly in kitchens and bathrooms (dollar-for-dollar, these rooms tend to reward your efforts more so than others).
Pragmatic home enhancements like adding central air or a gas fireplace generally will not earn more in sales value than their cost. These types of additions involve well-known, fixed costs, and depreciation always takes a bite. Luxury items like swimming pools and hot tubs generally score low in terms of resale value. Swimming pools typically add about $5,000 to the home's resale value – not much considering a pool costs about $20,000 to install.
Major house additions should be carefully considered. These usually involve electrical, structural or plumbing work that is hard to recover. What areas pay off most? Bedrooms. Adding a bedroom is a big plus, while a family room can enhance the value of a smaller home. Basements score low; they are still considered by many buyers as a cold, damp place to store things.
<b>Reduce Maintenance Costs</b>
If you plan to spend at least a few more years in your home, you might leave the cosmetic fixes for now and instead look for ways to reduce maintenance costs. Heating and water should be your first targets. It's impressive what you can do with less than $100 of weatherproofing products and a little know-how. Look to http://www.kw-real-estate/ for energy conservation recommendations. Similarly, water usage can be reduced through new fixtures. Check with your local government for possible rebates on certain water-efficient products. It's tough to immediately see the payoff of your expenses here, but look to year-over-year consumption levels (usually displayed on your water or energy bill) to see how you're doing.
<b>Monitor Risk</b>
As with investing, homeowners should not let opportunity supplant a sound evaluation of risk. Home insurance is a given, but how sure are you that your house is up to code? A homeowner I know was sued after a visitor tripped on his steps – turns out the height of each step wasn't quite up to code. One home inspector estimates that each home he inspects has between 5 and 20 code violations, many that are simple to fix.
Also, preventive maintenance is always a wise investment in some areas where the cost of complications is high. Quality roofing, wiring and water drainage (eaves troughs, etc.) will prevent unexpected and costly damage to your home. The idea with these projects is not how much you'll gain, but how much you'll avoid losing.
So remember, next time you survey your assets and investments, give some thought to the value of your home. Look for efficient improvements – changes that will earn or save you more money than they cost to implement. Ask yourself if a pool is a good idea when an extra bedroom might cost the same but increase the value of your home by $15,000 more.
San Diego Real Estate - San Diego Homes for sale
SAN DIEGO REAL ESTATE MARKET, CALIFORNIA
JANUARY-APRIL, 2006 PERFORMANCE
Now that the Memorial Day parties have finished and the summer home buying season has begun, this is a good time to look at the performance of the San Diego Real Estate Market. This analysis focuses on the period beginning January 1, 2006 through April 30, 2006.
Perhaps the best place to begin is to look at the number of homes sold for each of these four months.
In January of 2006, 1,115 homes sold in San Diego County versus 1,523 homes January 2005. This represents a 26.8% drop in sales. In February of 2006, 1,140 homes sold in the County, compared to 1,491 in February 2005, which represents a 23.5% decrease. In March 2006, 1802 homes sold, compared to 2,191 in March 2005, which represents a 17.8% decrease. In May of 2006, 1604 homes sold, compared to 2409 in April 2005, which represents a 33.4% drop. So the market has clearly turned now from a “sellers” market, to more of a balanced or “buyer-friendly” market.
Just as interesting is the change in the time it takes to sell a home. In January of 2005, on average, it took 61 days to sell a home, compared to 69 days in January 2006, which represents a 13.1% increase. In February 2005, the average home took 60 days to sell, compared to 68 days in February 2006, which is a 13% increase. In March 2005, on average, homes took 54 days to sell, compared to 67 days in March 2006, which represents a 24.1% increase. In May 2005, on average, homes took 51 days to sell, compared to 63 days in May 2006, which represents a 23.5% increase.
The information above allows us to make some conclusions about the San Diego real estate market for the first four months of 2006. First, while the market remains robust, currently supply exceeds current demand, allowing homebuyers more options and more negotiating power. This is also producing a situation in which homes are staying longer on the market before they sell, a stark contrast to the San Diego market for the last few years in which demand has far outweighed supply.
If you are interested keeping up-to-date on the San Diego real estate market, please go to http://www.marcomoney.com/ On this site, you can search the MLS for San Diego homes and condos for sale, see home pictures, addresses, virtual tours, and tax information. You can also evaluate the characteristics of every community in San Diego, evaluate the quality and performance of schools in this region, see featured home sale listings, and evaluate and apply for various home loan programs. marcomoney.com is part of the TCS REALTY INC. network.
For More Information contact:
Marco Luis
Realtor
3160 Camino Del Rio S. #310
San Diego Ca 92108
858-583-2646
marco@marcomoney.com
JANUARY-APRIL, 2006 PERFORMANCE
Now that the Memorial Day parties have finished and the summer home buying season has begun, this is a good time to look at the performance of the San Diego Real Estate Market. This analysis focuses on the period beginning January 1, 2006 through April 30, 2006.
Perhaps the best place to begin is to look at the number of homes sold for each of these four months.
In January of 2006, 1,115 homes sold in San Diego County versus 1,523 homes January 2005. This represents a 26.8% drop in sales. In February of 2006, 1,140 homes sold in the County, compared to 1,491 in February 2005, which represents a 23.5% decrease. In March 2006, 1802 homes sold, compared to 2,191 in March 2005, which represents a 17.8% decrease. In May of 2006, 1604 homes sold, compared to 2409 in April 2005, which represents a 33.4% drop. So the market has clearly turned now from a “sellers” market, to more of a balanced or “buyer-friendly” market.
Just as interesting is the change in the time it takes to sell a home. In January of 2005, on average, it took 61 days to sell a home, compared to 69 days in January 2006, which represents a 13.1% increase. In February 2005, the average home took 60 days to sell, compared to 68 days in February 2006, which is a 13% increase. In March 2005, on average, homes took 54 days to sell, compared to 67 days in March 2006, which represents a 24.1% increase. In May 2005, on average, homes took 51 days to sell, compared to 63 days in May 2006, which represents a 23.5% increase.
The information above allows us to make some conclusions about the San Diego real estate market for the first four months of 2006. First, while the market remains robust, currently supply exceeds current demand, allowing homebuyers more options and more negotiating power. This is also producing a situation in which homes are staying longer on the market before they sell, a stark contrast to the San Diego market for the last few years in which demand has far outweighed supply.
If you are interested keeping up-to-date on the San Diego real estate market, please go to http://www.marcomoney.com/ On this site, you can search the MLS for San Diego homes and condos for sale, see home pictures, addresses, virtual tours, and tax information. You can also evaluate the characteristics of every community in San Diego, evaluate the quality and performance of schools in this region, see featured home sale listings, and evaluate and apply for various home loan programs. marcomoney.com is part of the TCS REALTY INC. network.
For More Information contact:
Marco Luis
Realtor
3160 Camino Del Rio S. #310
San Diego Ca 92108
858-583-2646
marco@marcomoney.com
San Diego real estate, the solution for everyone
Summary:
Buying a house is for most people a real important step in life. Investing, as well as just buying a house of your own, has to be well thought of before any action is taken. Buying San Diego real estate can be the best way to make this new start.
Keywords:
San diego Real Estate,San Diego,Real Estate,California,Southern California,San Diego House,investment
Article Body:
Paying rent is an aspect of life worth taking into consideration. Rental prices can rise any time and the landlord is free to kick out the tenant whenever he wants. The needed security and the solution to all of the above mentioned problems can be obtained by owning a house. If you are looking for a complete satisfaction of your own daily existence by buying a house, then San Diego is the best solution. Investing in San Diego real estate is also a very good choice. Owning a house doesn’t just give personal security, but helps save up a lot of money, if not even make them. If making your dream come true seems almost impossible, not only regarding San Diego real estate, but in any part of USA, then the following tips will be very helpful. This article proposes to present the advantages of investing in San Diego real estate and advice on how to buy a house even if you can barely afford to pay rent.
Owning San Diego real estate is a long-term investment, which gives stability to those who want to start a family. On the other hand, rent prices grow every month and you find yourself spending a large amount of money per year. How can you not think: “I could have saved this money for my own house…”?. It’s a better deal to pay the monthly installment for your own house then to pay the rent. You should also know the USA government helps you become independent by not paying rent forever. The most important issue is whether you are ready to do something to accomplish what everyone dreams of: buy your own San Diego house.
Why is San Diego real estate a good investment? First of all, because the installment rates are low. This gives you the opportunity to pay less and gain more when the San Diego real estate value increases. As you may know the first step in purchasing land or just a house is the location. Investing in San Diego real estate is a great deal because this county is a good location with a nice climate, it is landlocked and land prices are growing more and more each day giving you the opportunity to increase your capital. Though some other places may let you buy for fewer down payments, the location isn’t as good as San Diego. Some invest in San Diego real estate not just to increase their capital, but to own a house in which they can retire to. A good tip may be to purchase a duplex in order to live in one house and rent the other one.
For those little investors, who can’t afford investing too much in San Diego real estate, a good tip could be to purchase houses near the state. This way you invest less money and, in time, when their value increases they can be exchanged for San Diego real estate. A very important issue when investing in San Diego real estate is to obtain a pre-approval. In the real estate market a pre-approval means you are good for a loan. Not having one means you will probably be unable to invest in San Diego real estate. So the first step before purchasing a San Diego real estate is to be pre-approved. For this, you have to fill in a loan application and, when you are ready to invest, you are already covered. You must be careful to choose the best real estate agent when thinking of investing in San Diego real estate. The agent is the one who will find you the perfect place to purchase and help you make the best decisions. There are some companies, which offer their assistance regarding San Diego real estate. Their help c
“A roof over your head” is no longer a fairytale, but a dream come true. Investing in San Diego real estate is the best solution to your needs (especially if you intend to start a family) and though it seems impossible it is not. For those who don’t want to be rental slaves all their lives, San Diego real estate is a very good choice. All you need to do is to choose a good real estate agent to give you the assistance you need, a pre-approval and you are set. San Diego real estate should be thought of seriously if one doesn’t want to spend money in vain anymore (or if investing is the next step).
Buying a house is for most people a real important step in life. Investing, as well as just buying a house of your own, has to be well thought of before any action is taken. Buying San Diego real estate can be the best way to make this new start.
Keywords:
San diego Real Estate,San Diego,Real Estate,California,Southern California,San Diego House,investment
Article Body:
Paying rent is an aspect of life worth taking into consideration. Rental prices can rise any time and the landlord is free to kick out the tenant whenever he wants. The needed security and the solution to all of the above mentioned problems can be obtained by owning a house. If you are looking for a complete satisfaction of your own daily existence by buying a house, then San Diego is the best solution. Investing in San Diego real estate is also a very good choice. Owning a house doesn’t just give personal security, but helps save up a lot of money, if not even make them. If making your dream come true seems almost impossible, not only regarding San Diego real estate, but in any part of USA, then the following tips will be very helpful. This article proposes to present the advantages of investing in San Diego real estate and advice on how to buy a house even if you can barely afford to pay rent.
Owning San Diego real estate is a long-term investment, which gives stability to those who want to start a family. On the other hand, rent prices grow every month and you find yourself spending a large amount of money per year. How can you not think: “I could have saved this money for my own house…”?. It’s a better deal to pay the monthly installment for your own house then to pay the rent. You should also know the USA government helps you become independent by not paying rent forever. The most important issue is whether you are ready to do something to accomplish what everyone dreams of: buy your own San Diego house.
Why is San Diego real estate a good investment? First of all, because the installment rates are low. This gives you the opportunity to pay less and gain more when the San Diego real estate value increases. As you may know the first step in purchasing land or just a house is the location. Investing in San Diego real estate is a great deal because this county is a good location with a nice climate, it is landlocked and land prices are growing more and more each day giving you the opportunity to increase your capital. Though some other places may let you buy for fewer down payments, the location isn’t as good as San Diego. Some invest in San Diego real estate not just to increase their capital, but to own a house in which they can retire to. A good tip may be to purchase a duplex in order to live in one house and rent the other one.
For those little investors, who can’t afford investing too much in San Diego real estate, a good tip could be to purchase houses near the state. This way you invest less money and, in time, when their value increases they can be exchanged for San Diego real estate. A very important issue when investing in San Diego real estate is to obtain a pre-approval. In the real estate market a pre-approval means you are good for a loan. Not having one means you will probably be unable to invest in San Diego real estate. So the first step before purchasing a San Diego real estate is to be pre-approved. For this, you have to fill in a loan application and, when you are ready to invest, you are already covered. You must be careful to choose the best real estate agent when thinking of investing in San Diego real estate. The agent is the one who will find you the perfect place to purchase and help you make the best decisions. There are some companies, which offer their assistance regarding San Diego real estate. Their help c
“A roof over your head” is no longer a fairytale, but a dream come true. Investing in San Diego real estate is the best solution to your needs (especially if you intend to start a family) and though it seems impossible it is not. For those who don’t want to be rental slaves all their lives, San Diego real estate is a very good choice. All you need to do is to choose a good real estate agent to give you the assistance you need, a pre-approval and you are set. San Diego real estate should be thought of seriously if one doesn’t want to spend money in vain anymore (or if investing is the next step).
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