March Newsletter
With spring on its way, we wanted to share some tips for keeping those dreaded allergens out of your house. This month's newsletter also includes 8 upgrades that will increase your home's value, what homeowners need to know about backyard swimming pools, and an update on what to expect during the spring home buying/selling season this year.
- Katie, Kaley, Olga and Teresa
9 Upgrades That Will Increase Your Home's Value
There are many factors that impact the value of your home: its location, square footage, and age; the average price point of comparable homes; and the ratio of buyers to sellers in your local market. You don’t really have control over any of those things. But one thing you can control is the condition of your home and its features, and how prospective buyers will perceive the quality of your home. Here are 9 projects (shared by GoBankingRates) for increasing the value of your home before you list it for sale, ranging from $0 to $22,000 projects.
Declutter your entire home to create more perceived space: According to real estate agent Ashley Oshinsky, “The less stuff strung throughout your home, the more spacious it will appear to buyers. More perceived space equals more perceived value.”
Average price: $0 (You mught even make money by selling some of your stuff!)
Paint interior walls a light, neutral color: There's nothing like a fresh coat of paint to revitalize a room. And a lighter color will make the room look larger, so that's even more perceived space!
Average price for paint: $100 to $300 for 10-by-12-foot room ($2 to $6 per square foot to hire a professional)
Paint your front door: This is a great way to boost curb appeal! You can go for a bolder color here, like a bright red or deep blue. Your front door will be one of the first things buyers see, so make a good first impression!
Average price: $20 to $80 for a gallon of paint ($100 to $500 to hire a professional)
Tidy up your landscaping: Another way to boost curb appeal is to make sure your landscaping looks great. You can hire a professional or do it yourself. Trim shrubs, mow the lawn, pull weeds, and add some flowering plants.
Average price: $100
Have your home deep-cleaned: “The cleaner the space, the more buyers will think you took care of the house," says Oshinsky, "which equals more value in their eyes.”
Average price: $200 to $400
Power wash the exterior of your home: The first photo someone will see of your home is of the exterior, so make sure it's not looking shabby! You don't want to deter buyers from scrolling through the rest of your listing's photos.
Average price: $295
Update light fixtures: Swapping out dated light fixtures for trendier versions is a great way to give your home a more modern feel without spending a fortune. You could also try spray painting your chandelier (Rustoleum oil-rubbed bronze is a good choice), changing out the glass globes, and swapping old lampshades for modern-looking drum shades.
Average price: $150 to $900
Swap out old kitchen and bathroom faucets: Don’t let crusty old faucets make a bad first impression on buyers. Pick out some modern-looking new faucets and hire a plumber to install them. It will change up the whole vibe of your sink and counter!
Average price: $250
Complete those big projects (roof replacement, new furnace, etc.) before you put your home on the market: Don’t wait for a buyer to get an estimate on how much a new roof will cost, because they won’t be as motivated to shop around for the best price. If you leave it up to the buyer, you could end up paying more.
Average cost to replace roof: $8,700 to $22,000
Average price for new furnace: $5,500
Before you list your home for sale, consider making some of these upgrades and improvements. Even if you plan to stay in your home for the next several years, it's always nice to make upgrades while you're still living in the house. That way, you actually get to enjoy them!
What You Need To Know About Having A Home Swimming Pool
Having a swimming pool in your own backyard certainly has its perks (your summer parties will be the talk of the neighborhood!) but there are also some serious things to consider before taking the plunge. If you’re thinking about installing a pool at home—or if you’re thinking about buying a home that already has a pool—be sure to think through these 5 considerations:
Pools require a lot of daily maintenance and cleaning: Regular pool maintenance includes adding chlorine, ensuring that PH levels are balanced, skimming leaves, emptying skimmer baskets, and scrubbing the liner. For many people, the work is well worth the fun of owning a pool. For others, it’s a hassle. (There’s also the option to hire a pool service professional, but be aware that they will be dropping by several times a week to maintain your pool.)
A pool can improve your quality of life: So let’s talk perks: Pools are super fun, swimming is great exercise, and you’ll have the perfect spot for hanging out with friends!
Your electric bill and insurance premium will increase: With your pool pump running all summer, expect to add an extra $300 onto your annual electric bill. And you’ll most likely be required by your insurance company to increase your liability coverage.
There are a lot of safety precautions you must follow as a pool owner: Drowning is a leading cause of death in children, so it is absolutely crucial that you install a safety fence around the pool, put a lock on all gates leading to the pool, and never allow children in the pool area unattended.
Your property value might increase or decrease, depending on where you live: If you live in Florida, California, or another area with long, hot summers, having a pool on your property can really boost your home’s resale value. But if you’re in a colder region, buyers might consider a pool to be more of a hassle and a safety hazard.
It’s a big commitment, so make sure you think these things through before diving into pool ownership!
7 Tips for Keeping Pollen Out Of Your Home
Spring is nearly here, which is great news for those of us who are tired of winter. But for those with pollen allergies, spring is the dreaded season of sneezing. If you suffer from pollen allergies, these tips from The Spruce and Mayo Clinic will help you keep that dreaded yellow stuff out of your house!
Keep the windows closed: Do not, I repeat, do not open a window. No matter how tempted you are to let in a cool springtime breeze, keep those windows shut. Let your A/C bring the breeze, and keep the pollen outside where it belongs.
Use an air purifier: Air purifiers use fans and filters to remove fine particles (including pollen!) from the air and then recirculate the purified air back into your home. These are relatively small, unobtrusive appliances, and the best ones range in price from $75 to $600.
Make sure you're using HEPA filters: HEPA filters (high efficiency particulate air filters) can remove 99.97% of dust, pollen, mold, and bacteria from the air in your home. You can use HEPA filters in your HVAC system, air purifiers, and vacuum cleaners.
Clean daily: You probably don't want to hear this, but if you're an allergy sufferer, you should definitely be vacuuming every day. In addition to daily vacuuming, you should also mop your floors once a week, wash your bedding in hot water each week, and get into the habit of frequently wiping down dust-prone surfaces with a damp cloth.
Check the pollen count: Before you make outdoor plans, check to see if the local pollen count for that day is high (9.7 to 12.0 grams of pollen per cubic meter). If it's looking high, it might be best to spend the day inside—next to your air purifier.
Wash your furry friend more frequently: If you have a dog or cat that spends a lot of time outside, be sure to give them a good wipe-down before they come back in. Pets are a common culprit for bringing in pollen, so you might want to bathe them a little more frequently during allergy season.
Remove shoes and outerwear before coming inside: If you've been outside for hours, you might want to go ahead and toss your clothes in the wash, then take a quick shower to rinse the pollen out of your hair.
Wishing you a happy, sneeze-free spring!
Housing Market Update
Planning on buying or selling a home this spring? With the national housing market still leaning in favor of sellers, you can expect homes to sell fast, at a much higher price than listed, and with multiple offers on the table.
To help you get prepared, here’s how the national housing market looked in mid-February:
Mortgage rates continue their upward trend. The week of February 10, the Freddie Mac fixed rate for a 30-year loan jumped to 3.68%, the highest rate since January 2020.
Homes are selling, on average, 10 days faster than they did last year, and 24 days faster than two years ago. In January 2022, the average time on market was 61 days.
A few weeks ago, active inventory (the total number of homes for sale) was down 27% from a year ago. The number of newly-listed homes was also down (by 7%) and has been consistently trending low for the majority of 2022.
Prices are still on the rise. In mid-February, the median listing price for homes was up 11.9% over last year.
Keep in mind that these are the national averages. To learn more about our local housing market, reach out to us!