When preparing your home for sale, the small improvements count to make you sell quicker!
To the seller, it may be more of a nuisance to fix a piece of wood rot, replace carpet, or paint some exterior trim. To the buyer it looks to them that this is deferred maintenance. They see some rot, and then begin to think, “What else have the sellers not taken care of?” Then they start picking apart the house instead of saying, “Wow this seller really takes care of his house.”
Also, the buyers think that it costs a lot more to do the improvements than it actually does. Replacing carpet may only cost $2000 – $3500, but a buyer may think it costs $5,000 – $10,000. Most buyers these days have enough money for their down payment or closing costs, but not both. They certainly do not have cash set aside to make these improvements after closing.
Most buyers I see in the market want to move into a house and do nothing. I had a listing recently where I advised them to repaint the exterior trim. I got a quote from my painter, and it was $3500. My seller was resistant and said that he would negotiate that in the contract if necessary. We later had a potential buyer come look at the house for a second time. I called to get feedback and the agent told me the biggest drawback to the buyer was that the exterior trim needed to be painted. To the buyer it was a huge deal and he thought it was too big of an undertaking. I told the agent I had a quote for only $3500 and they came back to take a third look.
Had we prepared the house perfectly prior to listing, and painted the outside, we could have possibly received the offer on the first or second look. The moral of the story is if there are things that you know need to be updated, fixed, or improved, do so before listing. It is going to make your home show better, sell quicker, and quite possibly sell for more money!
Nina Harris and The Suits Team with Keller Williams Realty Peachtree Road collectively have over 10 years real estate experience in the Atlanta market. Year after year they sell 50-75 homes, rank in the top 5 in their office, and continue to be top producers within Keller Williams Realty.
A small home improvement loan is a loan that you get when you are thinking of making an improvement on your home. These loans are often based on the equity of your home; this is the form of collateral that is used in most cases.
Home improvement loans are based on the amount of money you want to borrow compared to the amount of equity you have already on your home. Before just applying for a loan to improve your home, you may want to explore all options available to you. You may want to get information from several lenders about what their terms are before you use only one lender’s offers.
When looking for a lender you can locate one in your area by using your local yellow pages. If you are unable to find a lender in your area you should also be able to find many lenders online that will offer you a small home improvement loan.
In most cases you may find the best deal, for a small home improvement loan, online. If you want to know more information about a lender’s offers you can often times ask them to provide you with quotes. This may be the best way of comparing lenders, comparing the quote that each lender gives you. In the quote you will most often be able to see how much money you are able to borrow, how long the loan will be for, and what your interest rates will be. When looking for a small home improvement loan you may want to keep in mind that there are many different lenders available and they do not all offer the exact same loan terms. When you are looking online you may want to have each lender e-mail all the information they can about the loans that they are offering. This will give you a good idea of what to expect when you are finally ready to apply.
Finding A Loan Online
When searching for a small home improvement loan online you should remember that you are providing your personal information to a lender. In most cases you have no need to worry, but you should still proceed with caution. You will want to make sure that you are using a secure site and that your information is not going to be used by a third party.
In most cases a paddle lock symbol will appear on the bottom of the page and this is a way of knowing that the site you are using is indeed secure. When it comes to a third party getting your information you may want to let the online lender know that you do not wish for your information to be used by anyone, except them. This is probably your best bet when you are unsure whether they will automatically offer your information to anyone outside of their company.
A small home improvement loan is one of the best ways to get the funds to improve on your home. Online lenders also tend to be a little more competitive then local lenders. They will often times offer you a lower interest rate because they want to keep your business. If you find a lender that has offered you a better interest rate it is always possible to tell another lender about it, and see if they will change their rate to match it. Online lenders are also able to offer you lower rates because they do not have the cost that a local lender would, they normally do not have to worry about any high business costs.