6 Remodeling Projects That Can Add to Your Resale Value

6 Remodeling Projects That Can Add to Your Resale Value

Home remodeling has become more popular than ever to attract buyers, thanks to an improving economy, strong job growth, higher disposable income, more home sales, low interest rates, and a more competitive housing market. Home owners looking to sell their home this year may want to complete a few upgrades and renovations that will help make their home get noticed among the competition.
The following are the remodeling trends recommended by both PJ & Company Staging and Interior Decorating as well as Remodeling Magazine’s Cost vs. Value report:
1. Curb appeal. According to Remodeling Magazine’s report, the key improvements with the highest ROI include the front door and garage door replacements, manufactured stone veneer front steps or foundations, vinyl siding, and replacing windows. Each of these upgrades will boost both buyer interest as well as the value of a home.

2. Deck addition. At a fraction of the price of an indoor addition, a new deck both enhances the landscaping of a yard as well as offers additional living space for al fresco dining, relaxing and entertaining. Most people use their decks for at least six months out of the year so it’s a worthwhile investment.

3. Kitchen remodel. Without having to completely gut the kitchen, replacing cabinet doors and drawer fronts, new appliances, countertops and flooring continues to rank as one of the top renovations for the last 10 years.

4. Bathroom remodel. Buyers are looking for a bathroom that doesn’t feel outdated. Even the smallest bathrooms can look more attractive with the right finishing touches. The key features that will sell a bathroom are updated vanities, wall color, tile, sink, faucets, toilet, and lighting fixtures.

5. Reinventing an existing room. Buyers and home owners want as much space as they can get. Remodeling an attic into a master or guest bedroom or converting a basement into a playroom, home theater, or exercise room are popular and profitable ways to add usable space to an older home as opposed to the bigger expense of an addition.

6. Painting and removing outdated wallpaper. Finally, if you don’t have time or money to invest in a remodel, one of the simplest and most affordable solutions is to remove dated wallpaper and add a trendy wall color. Don’t go too bold, though. Painting walls a neutral color will also bring out the home’s best features. This simple update provides a boost with instant universal appeal to buyers who want to envision living in the space.

Five Mistakes That Could Decrease the Value of Your Home

Today's Blog post comes courtesy of the Century 21 Blog.

Renovating or improving something too much sounds like an oxymoron, however when it comes to attracting a buyer and generating a return on investment, it is possible. The decisions you make may be best for you and your family, but it is crucial to consider the mindset of potential buyers.

Here are five common renovation mistakes that may decrease your home value:

1. Over improvement: Your home should be similar to other homes in the neighborhood. If your home costs much more than other homes in the neighborhood, potential buyers may choose that the updates you made do not outweigh the increased cost.

2. Over personalization: You may love bright paint, built-ins, and elaborate tiles but the potential buyer may see changing it as too much of a hassle. You want buyers to be able to picture themselves living in the home so it is helpful to have a neutral design aesthetic when you show your home.

3. Inconsistency: It is better to spend smaller amounts on many projects than spend a large amount of money on one project while neglecting other parts of the home. Instead of spending upwards of $30,000 installing a pool while keeping old and outdated appliances, it is a wiser decision to update the appliances.

4. Removing a wall: It may seem as though knocking down a wall between two small rooms to make one larger room is a no brainer but having more rooms is almost always better when it comes to increasing the value of your home. Your family may be smaller than the potential buyers and, for them, it may be better to have more rooms regardless of their size. Removing bedrooms can also decrease the value of your home. Turn an extra bedroom into an office or gym while you are living there, but switch it back to a bedroom when you are getting ready to sell.

5. Functional Obsolescence: Make sure that your renovations make sense. For example, potential buyers will probably not want to have the only way to enter one bedroom be to go through another bedroom. Another example would be turning a garage into a guest house. Although having a guest house might be better for your family, many families would prioritize having a garage. Remember these mistakes when you are choosing renovation projects around your home. What seems like a good idea might not actually lead to a return on investment or, worse, may detract someone from buying your home.


To get started on the journey of selling your home, contact a Real Estate Agent at Century 21 Dunaway & Hart, Inc. today. Affordability and Mortgage Calculators can be found at our website so you can determine your price range. To look at homes for sale in your neighborhood check out all the property listings in central Arkansas. You may also call our office at 501-327-2121 or 800-490-0021 to set up a private home or land showing with one of our award winning Real Estate agents today.

Conway, Arkansas named among the Top Afforable Places to Live by Money Magazine

Conway, Arkansas is once again listed among the best places to live by Money Magazine.  This time, we rank 16th in the top small cities with affordable housing.  The magazine noted that the city's three colleges have helped to draw in both potential employers and residents.  Increasing salaries contributed to new industries such as technology with Hewlitt Packard and natural gas with Schlumberger are also cited as factors.  You can read more about Conway and the rest of the winners at CNN's Gallery of Winners as listed by Money Magazine. 

To learn more about the affordable housing in Conway and Faulkner County, contact a Real Estate Agent at Century 21 Dunaway & Hart, Inc. today. Affordability and Mortgage Calculators can be found at our website so you can determine your price range. To look at homes for sale in your neighborhood, check out all the property listings in central Arkansas or watch our television show. You may also call our office at 501-327-2121 or 800-490-0021 to set up a private home or land showing with one of our award winning Real Estate agents today.

HOW TO DETERMINE THE PRICE OF YOUR HOME

Why is it that some homes sit on the market for a year while others sell like hot cakes? Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.

If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.

The secret is perfecting a technique that’s as American as apple pie: comparative shopping.

Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.

A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Marketing Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months. Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonably

However, factors such as the amount of time needed to sell your home can alter the agent’s price recommendation dramatically.

Typically, people should check with real estate offices in the community to determine the typical duration that listings are on the market. Sales associates will explain that the marketing “norms” vary with prices and properties. Based on this criteria, the agent feels confident that he or she will be able to sell it for a price that both you and the buyer will be happy with. However, if you’re under time constraints because of unexpected job changes or moving agreements you’ve made on another property, this will narrow your chances of selling the home for top dollar in the market.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to shore with you.

A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you’ve picked is a good gauge of the home’s worth and won’t discourage qualified buyers.

Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help an agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.

To find an agent that can help you in your journey, contact a Real Estate Agent at Century 21 Dunaway & Hart, Inc. today. Affordability and Mortgage Calculators can be found at our website so you can determine your price range. To look at homes for sale in your neighborhood, check out all the property listings in central Arkansas, watch our television show, or read our Central Arkansas Homes Magazine. You may also call our office at 501-327-2121 or 800-490-0021 to set up a private home or land showing with one of our award winning Real Estate agents today.