It's a difficult time to try to sell a home, but this week, Angie's List offers some help for a surefire way to add "sold" to your "for sale" sign.
Travel anywhere around central Indiana, and no doubt, you'll find a few signs in the yard announcing this house is for sale. With the housing market in a slump, you have to find creative ways to make your house stand out from all the others up for grabs.
It may sound like news for dummies, but you would be amazed that some people don't follow cardinal selling rule number one - keep your house clean!
"You want to make your house seem as spacious as possible so keeping closets uncluttered, keeping countertops clear, are all going to give the feeling that the house is roomier," said Angie Hicks, Angie's List founder.
Angie Hicks with Angie's List says make sure your pricing structure is appropriate. Sometimes buyers can be turned away because you're asking more than you should.
"You need to understand the neighborhood and what comparables are selling for because the last thing you want to do is put your house on the market, price it too high, and then it sits on the market for too long," she said.
When that happens, you may want to consider what is quickly becoming a trend in home selling: staging. You might like that purple carpet in your bedroom, but you have to consider what most people would like.
"You actually are looking at the layout, the floor plan furniture arrangement, accessory placement and how you're going to direct the buyer to the tour of the property," said Linda Barnett, Home Matters, a staging company in Indianapolis.
Barnett helps sellers de-clutter their homes, move big ticket items around and maybe add new furniture to appeal to a broader market.
5 Remodeling Projects with the HIGHEST return on investment
1. The Kitchen - Whether it's a major overhaul or a simple makeover, putting a fresh face on your kitchen is your best investment. A major update could cost more than $20,000, but you can expect at least an 85 percent return.
2. The Bath - An outdated bathroom can quickly spoil a sale, and it won't be a pleasant space for you, either. Current trends of large showers instead of space-hogging garden tubs may serve you well, as will attention to classic features rather than unusual color schemes. A major update could cost less than $20,000, but yield an 84 percent return.
3. Decks - A new deck can cost a few thousand to tens of thousands of dollars, depending on size and materials used. Before you build, look at other homes in your area and build accordingly. If the deck is in good shape, your return could be more than 80 percent.
4. Siding - If your home's façade is siding and it's not in good shape, replacing or repairing the siding can bring instant freshness. You'll likely spend at least $10,000, but you should get at least 80 percent back.
5. Window replacement - The energy efficiency of new windows is a clear benefit to switching out older windows, but in some cases, it's a safety feature, too. Costs depend on the number of windows you're replacing, of course, and the type. Expect a return on your investment of at least 80 percent.
5 Remodeling Projects with the LOWEST return on investment
1. Pool - Unless your home is the only home on the block without a swimming pool, you'll rarely get back even half of the money you pay to build one, and you can scare prospective buyers off because many don't want the responsibility or liability of a pool. In-ground pools are expensive and can range from less than $20,000 to more than $60,000, depending on how expansive your design and materials.
2. Home Office Remodel - If you work at home, you'll want a pleasant home office, but don't get too carried away with it. Remodeling could set you back more than $20,000 and you'll be lucky to get half that money back. It's better to have a room that can clearly be used as a bedroom, playroom or other space without a lot of redecorating. Expect a return of 57 percent.
3. Sun Room or Four Season Room Addition - These rooms can set you back more than $50,000 and they're often beautiful bonus rooms. If you'll enjoy the room and use it, it's worth the investment. The return on investment is generally less than 60 percent, though.
4. Master Suite - Who doesn't want an expansive private retreat even within their own home? Master suites are expensive, though - some can run into six figures - and the return is generally in the 60 percent range.
5. The Garage - Adding that third bay to your garage may make sense when your kids start driving, but it can be expensive - especially if it's attached to your house. You may get as much as 60 percent of your investment back, but you may scare off buyers who don't anticipate needing that much garage space.
How to hire the best contractor for your job:
· Know what you want: Before you begin talking with contractors, read remodeling magazines, search the Internet for designs and materials and put your ideas on paper to give potential contractors a better sense of your expectations.
· Name your pro: Consider what you realistically can accomplish on your own. For projects that involve more than three different service providers, a general contractor may be needed to manage your project. If you're eliminating walls, adding rooms or impacting structure, you may need an architect or structural engineer.
· Do your research: Ask neighbors and friends who've had work done for references. Check Angies List for references and your local regulatory agency for licensing requirements and to check your contractor's license, insurance, and bonding status. Get the names of subcontractors and ask their opinion of the contractor.
· Get estimates: Get at least three written estimates to review. Documentation is often the best ammunition you have if things go wrong.
· Call back: Don't hire a contractor whose only contact information is a post office box or an answering service. Hire someone with a good presence in your community.
· Read the contract BEFORE you sign. Know the details of the contract, as well as how any change orders will be handled. Check that your contract includes a lien waiver, covering payments to all subcontractors who worked on the project.
· Money matters: If your project will cost more than 30 percent of your home's value, consider buying moving instead. Never pay the full cost of a project up front. Hold back at least 10 percent until the job is complete to your satisfaction and to your contract terms.
· Be patient: Regardless of size, all projects will include unexpected issues that may cost more or delay completion. Be prepared for stress as the project stretches on, work crews enter your home and materials may pile up. Know what your work crew hours will be so you can plan your life around them.
