Top 4 Home Renovations for Maximum ROI

Some Highlights:

Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most “Return On Investment” (ROI).

While big projects like adding a bathroom or a complete remodel of a kitchen are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.

Should I Buy or Rent?

For most first-time homeowners, the question of whether to buy or rent is a big one. You may have spent all your life renting, or maybe you just spent it living with parents, in a college dorm, or with a partner. But the decision to rent or buy is one of the biggest. Check out these five questions below to determine whether you should rent or buy a home in NJ.

Do you want to move? If you like the idea of traveling and moving house frequently, renting may be a better bet. One of the biggest advantages to renting is that you can pack up and move with little notice—and take your resources with you. That being said, if you know that a home in Sussex county is for you, buying is your best plan!

Do you know how many rooms you’ll need in the future? Imagine finding the perfect two-bedroom, a nice view, and a beautiful yard. This might be what you need now, but are you planning to start a big family soon? Alternatively, if your family is older and ready to move on, you may want the flexibility of going from a big house to a smaller one.

Are you a DIY-er? Home ownership comes with many responsibilities, and repairs are one. On the other hand, home owners can repaint, remodel, and enjoy the freedom to “do it themselves” whenever they choose.

How’s your credit? Unfortunately for those of us who have played too much in our youth, credit can impact your home purchase. If your credit is very poor, we can definitely find you a loan—however, some clients will spend a year or two renting and fixing credit.

Money now or money later? Renting is often cheaper in the short term. There is no down payment, no closing costs, and no commitment. However, over a period of 5-15 years (depending on your market), home ownership will pay itself off in a way that renting never will.

Remember, when you own property, you are investing in your future! However, that does not always mean that “right now” is the best time to buy. To discuss your financial and home buying situation in detail, set up an appointment with our real estate power team today!

When is the Best Time to Sell A Home?

If you’re thinking about selling your home in New Jersey, now is a great time! You know that there are very many factors that you must consider when thinking about selling your home, and the timing is one of them. Read on to find out tips from our expert real estate team abut selling your home today!

  1. When you are ready. This may sound silly, but many of the property owners who contact us just aren’t ready to sell their homes, yet! In the past, when the housing market was struggling, homeowners had to plan for months and months of time between listing and closing. In today’s market, we’ve sold plenty of homes in under a month. While there are no guarantees for your home, keep in mind that today’s market is moving fast, so be ready to sell once you list.
  2. Earlier in the year. In general, selling your house earlier in the year will make it more likely to close by the end of the year, and many people are more prone to buy houses in the beginning of the year as well. If possible, try to coordinate your sales with the first half of the year. In addition, people who are moving to new neighborhoods for school districts or college campuses usually want their homes secured by the beginning of August at the latest.
  3. Weather-permitting. Weather is one of the most surprising factors affecting home sales. People just don’t like to drive around and visit properties when the weather is cold—or when it’s too hot! Take advantage of spring weather, but a cool summer or early fall can work as well.
  4. Before loan rates rise. If you’ve kept track of real estate news, you know that loan rates are at the lowest they’ve been in a while… which means they’re about to increase again! Before they do, make sure to take advantage of them by financing a property!

If you want the best home in the Northeastern New Jersey area, contact D & L PowerTeam today!