These days, the phrase on everyone’s lips is “smart technology.” If your home does not have it, you should know that buyers may be looking for it. This guide shows you some of the most common forms of smart technology you can add to your home, with some tips to help you decide which ones are the best investment.
Cautions About Smart Technology
The first thing you need to keep in mind is that smart technology is an industry in rapid development. This means the following:
- Products become obsolete quickly
- There are many brands on the market
- Interactivity may be limited
In short, you should be wary about the kinds of products that you install in your home as a way to impress buyers. Home buyers, especially buyers on the younger end of the spectrum, are accustomed to using various types of smart technology beyond smartphones. They may already have preferences about the best brands, and expect that whatever you have is going to be at the top of the line. Ask your real estate agent for recommendations before you start making investments, so that your upgrades will be appreciated by the average home buyer.
Full Home Automation vs Individual Technologies
There are a couple of different ways to look at smart home technology. There are fully-integrated home automation...
After a bankruptcy occurs, buying a home is tricky but not impossible. Rebuilding credit, allowing the bankruptcy to season and shopping for the right loan can help homebuyers on the path to securing a mortgage.
To understand the options for your specific situation, speak with a lender and/or financial advisor.
Let the Bankruptcy Season
After the bankruptcy has discharged, a home buyer must wait for a while to allow the bankruptcy to season. Once the waiting period is complete, the homebuyer may be eligible to secure a mortgage, however, the length of the waiting period is dependent on a variety of factors, including the type of bankruptcy filed and the type of mortgage the homebuyer is pursuing.
Home buyers who have filed for chapter 7 bankruptcy must wait 2 years to qualify for an FHA or VA loan, or four years for a conventional loan. Home buyers with a chapter 13 bankruptcy on their record can secure a conventional loan in two years and an FHA or VA loan in one year, provided that payments are made on time.
Rebuild Your Credit
During the seasoning period, spend time rebuilding credit and saving for a down payment. Using a credit card responsibly is one of the best ways to rebuild credit after a bankruptcy occurs. To do this, work with a bank to obtain a secured credit card. Use the card regularly, and pay off the balance monthly to show responsible credit card usage.
A home with a pool can have big appeal to the right buyer. However, not all home buyers are specifically seeking a pool. This means that a home's pool may have to win over buyers who are not convinced that they would like a pool on their property. To do this, the pool must be kept in good condition and properly staged. Knowing how to stage, market and present a property with a pool and can help get the most for the sale of a home.
Make Cosmetic Repairs
An older pool can suffer from cosmetic problems like algae, cracks, pock marks in the plaster, water stains and scale on the tiles. Cosmetic issues can lead a home buyer to question the condition of the pool, even if these problems have no real impact on safety and functionality. Have cosmetic problems repaired before putting the home on the market to help reassure buyers that your pool is in good condition.
Keep Up With Cleaning and Monitor the Chemical Content
Keep up with cleaning and monitoring of the chemicals in your pool. The water in the pool must be crystal clear when buyers come to the home. If in the middle of packing to move there isn't time to keep up with pool maintenance, hire a pool service to ensure that the pool will always look its best.
Leave the Water Uncovered
A home purchase is a big investment, and making changes and improvements can certainly help to increase its value over time. Some upgrades are more common than others, as they are often considered sure fire ways to add to the investment potential.
However, certain upgrades actually cost more to install than the money they are worth at the final sale of a home, so it pays to be careful when remodeling. Items like kitchen and bathroom upgrades or adding on another room are popular ways that people choose to add value, yet there might be other projects to consider too.
The Popular Projects
More often than not, homeowners will point to the kitchen or bathroom first when they decide it’s time to stage or add value to their home. Not only can this type of upgrade reap rewards down the line when the home sells, but the owner gets to enjoy the fruits of their labor while they are still living there.
Depending on the size of the kitchen, an average remodel can run around $10,000 or more. While this might sound like a large chunk of change, keep in mind that homeowners sometimes see at least a 100% return on their investment. In some cases, depending on the housing market and the type of upgrades installed, one might see close to a 200% return. This is also an area where homeowners can spend too much, so it is important to work up from smaller improvements with the guidance...