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“For each petal on the shamrock this brings a wish your way. Good health, good luck and happiness for today and every day.”
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As spring draws ever nearer, many homeowners are thinking about sprucing up their homes. Unfortunately, if you’re not a savvy DIY-er, home repairs can be expensive when you hire help. The following three tips from Andy Bell, founder of a franchise repair service, Handyman Matters, will help you prevent that leaky faucet from blowing your budget:
• Cut base charges. Repair people usually charge a flat fee ranging from $25 to $90 for a visit and then tack on hourly charges. Save money by consolidating repairs into fewer visits and paying only one base charge. If you need your furnace checked, have the HVAC specialist also tune up your air conditioner.
• Communicate on the phone. When you call a repair person, be clear on the phone as to what the problem is and the history of the problem. If the repair person knows exactly what to expect, he or she will come prepared and save time and money. You might also ask if it’s possible to e-mail a photo of the problem.
• Purchase your own supplies. Most repair companies charge a markup of 20% to 100% of the cost of materials, and may also charge you for the time spent shopping. If you can purchase your own paint, tile, carpet or other home repair material, you will save money on the repair.
Source: USA Weekend
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Sell Your Home in 2008
If you’re considering selling your home this year, it is never too early to think about making your home stand out in the crowd.
In most parts of the country, the real estate market is slowing or even stopped, making life more difficult for sellers than in recent years. The result is a surplus of homes on the market and less buyers to buy them.
Your first thought about making your home stand out might be to do some remodeling. But watch out, says a recent study appearing in Remodeling magazine: Homeowners aren’t recouping as much on their improvement costs as they have previously. In selling a home, Cheri Kuhn, owner of Waters Realty in Minnetonka, Minn., explains that “it’s more important that it’s neat, it’s clean and it looks spacious, rather than making sure it’s the top of the line.” Kuhn also says, “The thing I find with sellers – if they do a lot of remodeling – they will take the cost of the remodeling and add it to the cost of the home and ask the buyer to pay for it.” The problem is, they’re not always going to get that higher price.
A recent Wall Street Journal Online article recommends spending your money wisely on improvements, and considering the following tips:
- Ask an expert. Well before you plan on listing your home, enlist your Realtor to help you determine what improvements should be made. When Kuhn meets with clients, sometimes six months before listing a home, she will make a list of improvements that could make the difference between a home selling and languishing. Common fixes include cleaning carpets, painting the walls and removing wallpaper. The first step, even before asking your Realtor’s advice, is to de-clutter and clean your home. If necessary, rent a storage unit to store your extra possessions while your home is on the market, says Shannon Aldrich, an agent in Maine and New Hampshire with Keller Williams Coastal Realty.
- Do extra preparation. Getting a home inspection before the listing could help you pinpoint improvements and will also look good to buyers. Dan Steward, president of Pillar to Post, a Tampa, Fla.-based home inspection company, says that some estimate that for every dollar of perceived defect, buyers want a $2 to $3 discount. If that estimate is true, imagine how important it might be to pay $2,500 now to replace your air conditioning unit rather than discounting your selling price! Kuhn adds that this helps a buyer’s perception of your home, as if a large defect such as a faulty furnace or roof is uncovered, they could think “what else might be wrong?”
- Concentrate on the exterior. The exterior of your home is important for several reasons, including that it helps improve a buyer’s first impression. Additionally, outside improvements such as siding and windows were some of the improvements where the most recovery could be found in the selling price, according to the Remodeling survey. For instance, a wood window replacement recovered an average of 81% of the cost at resale, while a siding replacement recovered an average of 83%. These were some of the best paybacks in the survey.
- Boost your bathroom. “People will put up with a lot of cosmetic challenges in a house if they know they could use the bathroom right away,” says Shannon Aldrich. Giving your bathroom a boost doesn’t have to be expensive, but it could really pay off. The bathroom should be clean, above all, but you should also consider replacing cracked tiles and outdated or dingy sinks and toilets. A toilet can cost less than $250, so this isn’t a huge investment.
- Think small in the kitchen. According to the Remodeling survey, minor kitchen improvements were recovered at 83%, while major improvements were only recovered at 78%. Cheri Kuhn warns her clients against replacing major appliances, since buyers are likely to have their own preferences for remodeling. Along those same lines, you should only replace a countertop if it is damaged, but not if it is just outdated. If you do make a major replacement, consider what the competition has: if your neighbors who are selling don’t have a granite countertop, there is no reason for you to install one.
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