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Retro decor: It’s ’60s flashback time. But to the original claim that fluffing decreases homevalues, lets explore how. Lets say we have a home that will need extensive renovation, and is beyond a “handy man’s” skills. What happens if we “Fluff” the property to a home with great “potential?” With binoculars.
For most loans, the lender obtains a signed and completed appraisal report that accurately reflects the marketvalue, condition and marketability of the property. They must take into account all factors that influence a home’svalue when developing the marketvalue opinion in the appraisal report.
In fact, excellent landscaping can add up to 15% to your property’s overall value! This is one of the few home improvements that can increase the value as the years pass. This also lowers the asking price on a home because now it has one less bedroom.
When you own your home, you can feel a sense of stability and security. You also get full control over how you decorate the home and any changes you make to it. There’s another benefit to homeownership, and that’s the chance to build equity in your home. Suppose your home’s marketvalue is $300,000.
Potential buyers may think that you don’t take care of your property and this could lower the value of your home. The Appraisal Institute has warned that bad neighbors can lower homevalues by as much as 10%. Finally, it’s important to keep all of the systems in your home up-to-date. Update your decor.
Consider these tips when selling a house in a housing market that benefits the buyer: Optimize your marketing: It’s vital that you market your property as professionally as possible to attract buyers. Tips for Buying in a Seller’s Market. Tidying your house may even encourage higher offers.
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