The number of bathrooms in a home can be a major selling point for potential buyers. And, as such, an extra bathroom can make your home more attractive and easier to sell—which is why a lot of homeowners consider adding a half-bath (or “powder room”) to their property.
But adding a powder room isn’t necessarily the right renovation project for every homeowner—and before you decide to add bathroom space to your home, there are a few things you’ll want to consider.
A recent article from realtor.com outlined elements to consider when determining whether to add a powder room to your home, including:
Things to Consider
- Available space… You don’t need a lot of space for a powder room (some are as small as five feet deep by 32 inches wide). But you do need some space—so before you commit to adding a half-bath, make sure to evaluate potential areas in your home and make sure you have a place that will work for a powder room (for example, a coat closet or the area underneath the staircase).
- …and whether you can live without that space. Depending on where you’re considering adding a powder room, you’ll also need to consider how to replace the space you’re renovating. For example, if you decide to turn your coat closet into a powder room, do you have an additional storage space where you can keep your coats and shoes?
- Pipe location. Ideally, you want to add a half-bathroom in a place where it makes sense for your current pipe layout. Otherwise, you’ll have to run new plumbing and waste lines to the space—which can add $4000 – $5000 to your powder room budget.
Bottom line? An additional half-bath can add significant value to your home and appeal to buyers—but it’s important to make sure it’s the right move for your property before you move forward with renovations. If you’re planning on selling your house in the near future, have your real estate agent analyze the market and advise whether it will make sense to spend the money your project will cost, or if it makes sense to list it as-is.
If you are interested in knowing more about my real estate services whether your looking to purchase a new home or sell your home in the Farmington Hills Michigan area or Oakland County Michigan, don’t hesitate to contact me today. I look forward to working with you and helping you make Oakland County Michigan your home town.
My Goals For You
“Helping a family find the perfect home brings a sense of accomplishment, goal is to help you find the home you want at an affordable price! Real estate is a competitive and sometimes stressful market when you’ll find a Realtor that pressures you into purchasing a home you don’t’ want or are not sure about, I’m not that Realtor..Having you delighted with my services whether your selling or buying a home is not only my job, but my duty to you and always will be, and I thank you for your trust”
When you renovate features in your home, you want to get the most bang for your buck. Not only do you want to make your home a better place for you and your family to live, but you also want your renovations to add to your home’s resale value.
But what, exactly, are the features that will help your home sell faster?
Give Your Renovations Some Character
According to recent data from Realtor.com (which analyzed more than 1 million single-family listings), the top three renovations that will help you sell your home quickly and at a prime price point? A chef’s or gourmet kitchen, a theater room, and a home gym. These renovation projects were named the “most profitable home features for sellers banking on quick sales.”
Those three features were deemed the most profitable. But they weren’t the only renovations that helped homes fly off the market. Also included on the list of features that will help your home sell faster include a three-car garage (#4), solar panels (#5), a home office (#9), and an in-ground pool (#10).
As the new year is here, plenty of homeowners look for ways to renovate their spaces to keep them feeling interesting and updated. If you’re preparing to put a home on the market, keeping up with trends is key because unless your prospective buyers are flippers, staggers, or redecorating fiends, nothing can make would-be buyers turn tail faster than some outdated decor
Also, keep in mind that there are some renovation trends that you should retire at this time, features such as:
- Granite Counter Tops
- The Edison Bulbs
- Statement Range Hoods
- All White Kitchens
- Barn Doors
You can read more of whats out and whats in Right Here
The Renovation Takeaway
If you’re thinking about renovating and adding features to your home, you’re going to want to think about your return on investment and choose a renovation that’s going to help your home sell quickly and profitably with character.
Once homeowners have arrived at the decision to sell their property, most want the transaction completed as quickly as possible. Sure, you can hire the best agent in town, price your home just right, and then market the heck out of it, but having a little bit of luck on your side and a few selling superstitions never hurt either.
When it comes to getting the deal done in a timely manner, sellers and agents have been known to rely on time-tested selling superstitions. Let’s take a look at 10 that are all but guaranteed to get that “Sold” sticker slapped on your “For Sale” sign in a hurry.
Selling Superstition #1. Appeal to the senses.
Here’s a sweet sellers superstition even if you’re not the least bit hungry, there’s something inherently appetizing about walking into a home and smelling a freshly-baked treat. While some experts recommend whipping up a batch of cookies, others say bread emits a scent that’s heartier, lasts longer, and offers greater olfactory appeal to buyers. Non-bakers will be glad to hear that sprinkling cinnamon inside a stove and turning it on low even for a few minutes will do the trick. Fans of savory versus sweet swear by roasting an onion, which is said to be enough to fool would-be buyers into envisioning hosting their very own Thanksgiving feasts in that home.
Selling Superstition #2. Bury a statue of St. Joseph in the yard.
Though St. Joseph was a carpenter by trade, he’d have made a pretty great Realtor ®, some say. It’s believed that burying a statue of the saint upside down (because this way he’ll want to get out faster) seems to have a mythical ability to sell homes in record time according to some seller superstitions . Unlike costly home renovations made in the hope of a quick sale, this statue won’t blow your budget. Kits, which include an accompanying prayer, start at $6.95.
Selling Superstition #3. Don’t do the math just yet.
Apparently the old phrase, “Don’t count your chickens before they’ve hatched!” also applies to real estate and selling superstitions. Triplemint agent Phil Reynolds says, “Don’t calculate your commission unless you’re negotiating it!! I’ve heard agents say it’s bad luck to calculate your commission before the deal closes.”
selling Superstition #4. A dimmer switch is a bright idea.
Some believe putting lights in dining rooms, bedrooms, hallways, and family rooms on dimmers will attract buyers who are drawn to the control they offer but wouldn’t necessarily devote to the time or trouble to adding the feature themselves, but not completely sure of this selling superstition.
Selling Superstition #5. Skip the zeros in superstitions.
While it might be tempting to price a home at a nice even number, selling superstition dictates that you’d be much better off choosing a random figure as it lends intrigue. Just do yourself a favor, and leave unlucky “13” out of it.
Selling Superstition #6. Throw in some amenities.
Buyers often fall in love with certain features only to be turned off when they learn that the exquisite chandelier or state-of-the-art appliance they coveted is leaving with the homeowner. Consider sweetening the pot by offering up a highly-desirable item and watch the bids roll in with this selling superstition.
Selling Superstition #7. Create a warm welcome.
If the home boasts a fireplace, and weather permits, set it ablaze. A roaring fire adds warmth — literally. Creating a charming ambience will definitely distinguish one property from another in a buyer’s mind. Make sure fireplace is clean for this selling superstition as to avoid the nasty smell of burnt wood.
Selling Superstition #8. Pretty it up with fresh flowers.
Another over-looked selling superstition is when a home is showing, you want it to look as fresh and inviting as possible. Flowers go a long way toward adding color and character to any space — even a pint-sized powder room. This trick holds true for the outdoors as well. Good landscaping has been known to shorten a property’s time on the market by as much as six weeks, experts note.
Selling Superstition #9. Don your lucky outfit.
Lady’s will love this selling superstition,the right outfit can boost your confidence no doubt. Triplemint Sales Manager Joan Kagan says she owns a “lucky closings dress.” Hey, whatever works!
Selling Superstition #10. Smudge it.
Some believe a home may have a “negative energy” lurking inside, which of course, can cause it to linger on the market long after it should’ve been sold. Smudging, a Native American ritual, in which cedar and white sage are burned either together or separately. Next a prayer or intention is said requesting that only positive energy enter the space as the negative flows back out says this selling superstition. It’s said that strangers often feel these emotions more strongly than the home’s inhabitants.
“I had a buyer who found out there was a cemetery not far from their apartment and didn’t close because she didn’t want to have ‘evil spirits’ in the house ,” Triplemint agent Greg Moers recalled. “She backed out of the contract and lost her deposit, so she was really against it. In the Asian culture, along with Feng Shui, this is a very big thing. They are against evil spirits of the dead to enter the house.”
So the selling superstitions can mean tons to any potential home buyer or home seller and although some may believe, there may just be some truth to these. Lets discuss your selling superstitions and get your home sold for the most money possible!
As a homeowner, the selling process can be an overwhelming experience – especially for first timers. Since they’ve never been through the experience of selling a home, many homeowners feel a bit lost as to what they need to do before they can pass their keys over to the next owners.
But not to worry! Here’s a checklist that covers all the essentials for homeowners getting ready to sell their first property:
Sprucing Things Up
Before homeowners list their home, they will want to handle any minor fixes that might keep them from getting top dollar for their property and spruce things up to make the home more attractive to potential buyers.
While every home is different, some areas that homeowners will want to revamp before listing their home include:
Painting is a relatively easy and inexpensive fix, but it can really make a difference in how a home presents. Before listing, homeowners should plan to refresh both the exterior and interior paint.
It also helps to use neutral colors when repainting a house that’s about to go on the market. Bold colors can be off-putting or distracting to potential buyers. Using neutral colors like white, beige, or gray, will help potential buyers see the property, not the paint.
The first thing potential buyers will notice when viewing a home is the landscaping. If the yard is in shambles or there are human-sized weeds sprouting from every corner, it can be a deal breaker.
Investing in landscaping upgrades will add to a property’s curb appeal and can help land a higher selling price. If the outdoor area hasn’t been landscaped, adding flowers, small trees and greenery can go a long way. If the property already has a garden, cleaning the area up (including raking, pruning and adding additional plants to fill in any visible gaps) will suffice.
If there are minor and/or inexpensive repairs that need to be done to the property, it can be helpful for the homeowners to take care of them prior to listing. Small repairs, like steam cleaning the carpets or fixing a leaky shower, are quick, easy and inexpensive fixes, but can make a big difference when showing the home.
While homeowners will want to leave more major repairs and remodels for the potential buyers, cleaning up small problems will yield big results when they put their home on the market.
It’s important for homeowners to stage their home in a way that’s appealing to potential buyers. Staging can either be done with the help of a professional organizer and decorator or independently, but proper staging should include:
- Decluttering the home
- Removing any personal items
- Reorganizing, rearranging and/or removing furniture to make the home feel more open and spacious
- Thoroughly cleaning the home
- Arranging the home to highlight the property’s best features (for example, pulling back curtains to showcase a gorgeous view or moving any furniture that blocks interesting architectural details)
- Adding decorative items to enhance the space
Staging a home in a way that appeals to buyers can have a huge impact on the selling process. Professional stagers typically cost a few thousand dollars, but if homeowners want to save the extra cash, HGTV has some great tips on how to best stage a home for maximum impact.
Choosing An Agent
Once the property is ready to be shown to potential buyers, it’s time to find an agent.
Choosing the right real estate agent is HUGELY important, particularly for first time sellers. Having the right real estate agent representing the property can mean the difference between a quick, painless and positive selling process and a long, drawn out nightmare.
When choosing a real estate agent, homeowners should consider:
Does this agent specialize in this type of property and in this area?
Whenever possible, homeowners should work with an agent who possesses a wealth of knowledge and experience selling the type of property they’re looking to sell within their market.
Different types of properties and different markets have different nuances, and working with an agent who understands those nuances can help homeowners sell their home quicker and for a higher price than working with an agent who isn’t as knowledgeable.
What’s the agent’s track record?
One of the best predictors of future success is past success. When choosing a real estate agent, homeowners should ask what their track record of success is. How many homes have they sold in the past year? What’s the average time their properties stay on their market? What percentage of their deals come in at the asking price or above?
Understanding a real estate agent’s past performance can help homeowners understand what they might expect during the selling process and helps to set up proper expectations for both the homeowners and the agent.
What’s the agent’s plan for selling the property?
Homeowners should also ask what their agent’s plan is for selling the property. What marketing channels will they leverage to make sure the property gets in front of the right people? How aggressively do they plan to market the property? What’s their backup plan should they not be successful with their typical marketing strategies?
It’s an agent’s job to sell a property, but there are many ways to do that. Homeowners will want to find out upfront what their agent’s plan is to make sure it’s in line with what they’re looking for.
Selling a property can be overwhelming for first time sellers. But by following the steps in this checklist, homeowners can take the necessary steps to selling their home quickly, easily and with as little stress as possible.
The housing inventory in and around Oakland County, Michigan has been a struggle for most buyers the last few years causing higher prices and less inventory for eligible home buyers. Although the housing inventory in Oakland County, Michigan increased in January 2019, the inventory remained averagely lower dropping by 381 homes from 3,629 in December to 3,248 in January.
Housing Inventory Getting Better For Buyers
While the current inventory remains dependent on affordability in 2019 as far as housing inventory and the housing market, there are signs that some areas are showing signs of an improving housing inventory situation, with year after year increases in inventory percentages and the low inventory situation in Oakland County, Michigan according to Realcomp II Ltd.
For the past few years, historically low housing inventory has been driving up competition (and prices) for real estate in markets across the country including Oakland County, Michigan. But it looks like 2019 is going to see that (finally!) start to shift in a different direction, which is great news for home buyers. While gains are expected to be modest, housing inventory is at least going to be heading in the right direction in the upcoming year.
According to Realtor.com’s 2019 Housing Forecast, national inventory increases are projected to hover right under 7% for 2019 (which is in stark contrast to last winter when inventory hit the lowest level in recorded history). Some types of properties will see more growth than others—while entry-level buyers will see only modest changes in inventory, higher-priced properties (and higher-priced markets) should see a more notable change in available inventory in the upcoming year.
The Inventory Improvement Takeaway
If you’ve been thinking about buying a home but haven’t been able to find a property in this competitive market, it looks like things are finally starting to shift in your favor—and (hopefully!) finding a home in 2019 is about to get a lot easier.