The 4 Most Important Factors in Buying or Selling a Home

Whether you’re buying or selling a home, there are four important factors to consider before making a decision.

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What are the four most important factors to look at then buying or selling a home?

Everybody's heard the old adage, "location, location, location." Location is the most important factor to look at when buying or selling a home. Short of physically picking up the home and moving it, location is something you can’t change.

Secondly, look at the home’s yard, including its size, layout, and whether it’s usable. The yard is another thing that’s really hard to change, and it can also be very expensive.

Next, pay attention to the square footage. How big is the house overall? It’s hard to add square footage to a house if you have all the area of the home completely finished off. If’ you’re a buyer, consider buying a house that’s only big enough for you and your family.

Last but not least, look at the overall style of the home. Whether you’re a buyer looking for a two-story house or you’re a seller with a bi-level split home to sell, style is one more thing that’s almost impossible to change. Again, if you’re a buyer, consider buying a home that has a style that fits your family’s needs.

Making additions to your home down the line can be very expensive.

Making additions to your home down the line can be very expensive, which is why it’s always important to consider these four factors when buying or selling.

If you have any more questions about this topic or you’re thinking of buying or selling a home in the Twin Cities market, don’t hesitate to reach out to me. I’d be happy to help you.

Which DIY Projects Bring the Most Bang for Your Buck?

The home remodeling market is absolutely booming right now. So, which projects truly bring you the most bang for your buck?

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Right now a lot of people are wondering what home remodeling projects will get them the biggest bang for their buck.

As a trend, home remodeling is absolutely skyrocketing. The market for it is seeing a lot of intense growth right now. In fact, it’s up 6% year-over-year in terms of spending. This amounts to $324 billion being spent on home remodeling projects.

Impressively enough, that means that a quarter of all real estate spending is directly related to home remodeling. With that being the case, it’s no wonder people are curious about which projects are best.

Today, I’d like to give you a look at the top five projects that will give you the most bang for your buck.

1. Kitchen remodels. With kitchen remodels, you are going to get about 85% of your value back. However, it’s important to keep in mind that you should never spend more than 20% of your home’s total value on projects related to your kitchen. If your home is worth $200,000, don’t spend more than $45,000 on your kitchen.
2. Bathroom remodels. Bathrooms are another great place to get back a large portion of what you’re putting in. For bathroom remodels, you aren’t going to want to spend more than about $20,000. The right updates and changes will bring you about an 80% rate of return on your investment.
3. Deck remodels. Remodeling your deck can be a great idea, but be careful that you’re making the right choices. Even though there are a ton of fancy new products out there, keeping things simple is going to be the best choice. Maintenance-free products are going to cost you more than they may be worth. Like bathrooms, deck remodels will bring you approximately 80% return on investment.
4. New siding. Peeling or chipping siding can do a lot of harm for a home’s appearance. Sometimes the best option is to simply replace it. For vinyl siding, it’s going to run you about $10,000 to $15,000 to have it replaced. This amount will go up depending on if you opt for more expensive siding, or if you have an especially large home.
5. Replacing old or outdated windows. This remodel specifically will generally bring about a 70% return on investment, but don’t overdo it. It’s easy to go overboard by choosing a particularly expensive window system.

A quarter of all real estate spending is directly related to home remodeling.

Finally, keep in mind that all of these returns are based on you having contractors do the work. If you don’t have contractors doing the work, you could double your return by doing it yourself. For example, you could get a 140% return on investment instead of a 70% return if you were to replace your own windows instead of hiring someone else to do the work.

When it comes to remodeling and construction, about half of your money will go to materials. The other half goes toward labor.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

4 Simple Ways to Update Your Bathroom

If you plan on selling your home or if you are ready for a new look, there are four simple, inexpensive things you can do to update your bathroom.

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Whether you just want to change the look of your bathroom or you are preparing your home for sale, there are four simple things you can do. These remodels will make a huge difference and can be done for under $1,000.

1. Update your lighting. Lighting is super important and a lot of bathrooms have old, outdated lighting. You can change the vanity light out on your own for about $100. If you have an electrician install the fixture for you, that will cost around $200. Oil-rubbed bronze and satin nickel are popular choices for light fixtures right now.

2. Get a new faucet. Make sure you match the new light fixture. This update also costs around $100 for you to do on your own, or $200 if you hire a plumber. Home Depot, Menards, and Amazon are all great sources for a new faucet and light fixtures.

3. Pay attention to the flooring. Many homes have vinyl flooring, which can look great. You should be able to get a remnant at Menards or Home Depot for under $200, and we can put you in touch with installers who will update the bathroom floor for under $300. A new bathroom floor is a great way to create a fresh look.

4. Repaint the bathroom. A lot of people like to choose crazy or fun colors to enjoy while living in the home. However, when it comes time to sell, those colors can turn prospective buyers away. Pick out a popular color from the hardware store. Neutral grays are very popular right now.

Paint your bathroom a neutral color, like a gray.

If you aren’t sure which updates you should make or have trouble deciding what color to paint the bathroom, let us know. We have an interior designer on staff who can help you update your home and prepare it for the market.   

Ultimately, you should be able to take care of those remodels for less than $1,000. If you want to sell your home, you could get a $3,000 return on investment, which is pretty good.

If you have any other questions about updating your home or preparing it for the market, give us a call. We do quite a few flips and home improvement projects, so we would be happy to help you!

What We Look at When Showing a Home

Whether you are a buyer or a seller, there are a few things you should pay attention to when it comes to a home’s condition.

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When it comes to home showings, there are a few things to be aware of from both the buyer and seller perspectives.

If you are listing your home, showing the property is an essential part of the process. The approach taken by our certified team of buyer specialists here at Huerkamp Home Group sets us apart in helping our clients show their homes. We’re here to be your advisor, teacher, and advocate.

Instead of coming into the situation as salespeople, we want to instead be there to explain the positives and negatives of a property. Because of this, there are a few things we do when showing a property.

First of all, we take a look at the neighbors. We examine possible red flags like a cluttered yard or maintenance problems because the truth of the matter is that you can only pick your neighbors once. Once you’ve already chosen to buy into a neighborhood the tables turn and after that: your neighbors choose you.

Next we look at the condition of the roads. Could there be street improvements? Are they new or in disrepair? If the streets by a listing are not in the best condition, we may even consider calling the city to inquire about when they will be fixed and also alert them that there may be an assessment that’s going to happen.

It is our job when we’re representing you as buyer clients to make you aware of a home’s condition.

Additionally, we inspect the condition of the driveway itself. From the material the driveway is made of, to its current state, to whether or not the apron is becoming deteriorated, we need to assess these things to know what costs could be associated with them.

The state of the sidewalk is also important. When we look at a home we consider not only appearance but also condition. A sidewalk is one item that needs to be both attractive and well-maintained. This is especially true because the sidewalk leads you to the front door.

Paying attention to the exterior of the property, including the front door and siding, is another key factor.

Finally, we look at the interior and whether there are any needed repairs. This could be everything from replacing the carpet, sanding wood floors, painting, and more.

In any case, it is our job when we’re representing you as buyer clients to make you aware of a home’s condition.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

How to Prepare Your Home for Sale With Pets

If you have a pet and you're looking to sell your home, I’ve got some helpful advice.

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Friends and Clients —

If you have a pet and you're looking to sell your home, then read on for some helpful advice.

The good news is, many homebuyers are looking for a pet-friendly home.

Two out of three of us have a pet, and 61% of pet owners say they have trouble finding a home that is a good match for their pet.

In fact, a recent survey estimates that 31% of animal owners frequently don't put in an offer because a home would not suit their pet.

This means that if your home is a good match for a pet, it will be attractive to a large pool of dedicated animal owners.

On the other hand, 67% of Realtors also estimate that actually having a pet in your home can make it harder for you to sell.

So what can you do? Here are three things I typically recommend:

1. Repair any damage

Floors, walls, doors, the yard — these are some typical areas that pets love to chew, scratch, and dig up.

Repairing this damage is an investment that will pay for itself many times over in terms of a higher selling price.

2. Get a professional to remove pet odors

Many pet owners are less sensitive to odors in their home than prospective buyers will be.

That's why you should hire a professional cleaning crew to clean any carpets, rugs, or upholstery that have absorbed pet odors.

Once you're done with the cleaning, ask a friend or your Realtor for a sniff assessment to make sure the job is really complete.

Pet owners are less sensitive to odors in their home than prospective buyers are.

3. Take your pet out during showings

Some people are afraid of animals. Others are allergic. And regardless of the time, money, and effort you've put in to clean and repair your home, many buyers will be prejudiced by knowing that a pet currently lives there.

That's why I recommend taking your pet out during showings and also removing any pet objects such as toys, food bowls, or scratching posts.

By following these three simple guidelines, you will be able to sell your home for top dollar, whether the buyer is a pet owner or not.

If you’re curious what you could get for your home in the current market, check out this home value calculator on my site:

Enter your street address here to find out what your home is worth

And in case you have any questions or concerns about preparing your home for a sale, give me a call at 612-314-6330. I’m here to help.

Watch out for These 3 Winter Home Buying Mistakes

Buying a home during the winter in Minnesota brings about a couple extra things you need to be aware of that I'll shine a light on today.

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When you buy a home in Minnesota during the wintertime, there are a few certain things you need to be aware of.

For starters, remember that if there's snow on the ground, you might not be able to see all the landscaping and the condition of the lawn. Have your agent ask the seller for pictures of the property taken during warmer months to find out if the lawn is in good shape or is infested with weeds.

You also need to be wary of snow-covered roofs. If it's coated in snow, the inspector won't go up on the roof and find out if there's hail damage. Frankly, the sellers might not even know if there's hail damage. If possible, make sure the roof can be seen during the inspection period.

Get confirmation from the seller about anything covered in snow.

We also run into this issue with driveways. You want to know if the driveway is perfectly paved or if it's crumbling. If it's covered with snow or ice, it's obviously very hard to tell.

If you have questions about things like the landscape, roof, or driveway, it's always good to go to the sellers and get something in writing about the condition of these items. You want to be sure you're actually buying what you think you're buying, rather than facing a big bill down the road that the sellers should have covered.

If you have any other questions about buying a home during the winter or you have other real estate-related topics you'd like me to cover in a video, don't hesitate to shoot me an email or give me a call. I'd be happy to help.