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The Home Investor - eTips
A BizBrick publication

In This Issue

  • 15 improvements for any property

  • Bathroom makeovers

  • Hiring a contractor

  • From the archives

  • Book suggestions

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Fifteen Quick Improvements For Any Property

To get the biggest bang for your buck, focus on these money-winning improvements when remodeling any potential investment property:You don't need to start from scratch to add value to your home!

One - Fresh Paint
Two - New Carpets
Three - Refinish Hardwood
Four - New wall plates
Five - Lighting
Six - Faucets/taps
Seven - Basements
Eight - Bathrooms
Nine - Appliances
Ten - Power Washing
Eleven - A new front door
Twelve - Doormat
Thirteen - The lawn
Fourteen - Flowers
Fifteen - Let the air in

One - Fresh Paint
Strip any wallpaper from the walls and have everything repainted with at least two coats of fresh paint. (I recommend a satin finish for walls and gloss or semi-gloss for the trim).

Choose a light cream or white tint color to create bright yet warm and inviting rooms. You can easily have the whole house painted in the same colors. Don't waste time and money figuring out fancy interior decorating schemes as every buyer has unique tastes and you can never please everybody; going neutral makes the property appealing to the widest audience.

If you have stained-wood interior trim as was popular twenty years ago, have it repainted in white gloss. This will have an enormous impact on the brightness of the interior and make the home feel bright and fresh. Be sure to paint both the inside and outside of the house. Don't skimp on painting by trying to do it yourself unless you are skilled at painting.

A bad paint job will deter buyers. (TIP: When selecting a contractor, find one that places an emphasis on preparation. Good preparation can take as long or longer than the actual painting. Be sure all surfaces are properly sanded before being finished otherwise your new paint job might just rub or peel off).

For details on all fifteen improvements to your home go to http://www.ushomeinvestor.com/Owners/quickies.htm

Bathroom Makeovers

Research shows that kitchens and bathrooms are the most important rooms in any home when it comes to attracting buyers and selling a home. This month we take a closer look at bathroom upgrades.

There is no single “design” for bathrooms that makes a house an instant seller. Indeed, in some parts of the world, what passes for a stylish bathroom might appear unsightly to buyers in another country. Given these differences, we’ll attempt to describe some upgrades that should have a universal appeal to buyers everywhere.

Number of Bathrooms

The first thing to consider is how many bathrooms are appropriate for the size of the house. In some parts of the USA, a minimum of two full bathrooms is now considered typical, with an additional half-bath (a toilet and wash basin), a basic requirement for the main living floor.

Studying new home construction is a great way to get a feel for what home buyers want in your local market. New-home builders understand their target market and design homes to meet your area’s demands.

In many parts of the country, the average square footage of a single family home has been increasing to accommodate demand for larger rooms, and especially grand master bedroom suites with walk-in closets and generous master bathrooms.

When looking at a potential investment property, consider how the existing living space might be rearranged to accommodate additional bathroom space if necessary. You may choose to trade off some living space or a bedroom to accommodate a larger master bedroom suite and add in a master bathroom. A three bedroom with a stylish master suite may be more appealing to many buyers than a home with just one full bath and four small bedrooms.

Even homes that at first don’t look like they can accommodate such changes could be worth a second look. We recently looked at a Cape style property that had one full bathroom downstairs and one full bathroom upstairs. The second floor could accommodate three good-sized bedrooms with minimal change but it would be impossible to add a master bathroom suite without losing two of the bedrooms. However, the first floor had been expanded and featured three living rooms as well as a study. By redesigning the floor plan and moving the staircase, it was possible to design the home with a full master bedroom suite on the first floor, complete with its own generous sized bathroom overlooking a private courtyard fountain. The result was a four-bedroom home with three full bathrooms including a first floor master suite. (First floor master bedroom suites will become more sought after as the baby boom generation moves into retirement).

For more details on improving bathrooms go to http://www.ushomeinvestor.com/Owners/bathrooms.htm

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Quick Tips On Hiring A Contractor
  • Get three contractor names from a friend or Home Investor Specialist, or ask your chamber of commerce.

  • Verify licenses with your local town/state directory (you can sometimes do this online).

  • Ask for a copy of their insurance coverage. (You want to be sure they have sufficient coverage should something go wrong).

  • Check references and visit recent contracts completed.

  • Specify in writing the extent of the work for which you require an estimate (work order). Be as detailed as possible.

  • Ask for written estimates that refer specifically to your work order.

  • Be prepared to enhance your work order based upon the feedback from each contractor and on-site discussions.

  • Ask your preferred contractor to review the final work order in case they need to modify the estimate based upon the changes made.

  • Offer your preferred contractor a bonus for completing the work on time and within budget.

From The Archives

Key Selection Variables

If you are considering selling your existing home before investing in new property, there are a few things you can do to be sure to make the most profit on your existing investment.

As always, the key here is to try to do the least amount of work for the maximum impact on the value of your home. When preparing your home for sale, you need to throw aside your personal taste in style and color and consider instead neutral colors and styles that will appeal to the widest possible number of potential buyers.

...read more online

Architectural Trends

When considering investment homes, it may be worth taking into account the features many homebuyers are looking for in today’s new homes.

This article looks at recent rends and how they come into play for property investors.

...read more online

For Advice On Local Real Estate Deals
go to
www.USHomeinvestor.com/specialists/specialists.htm

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Book Suggestions

Here are a few good books that we hope you will enjoy as much as we did. (You can read more on any of these books and buy from Amazon at the book club section online www.ushomeinvestor.com/books/)

  • The Present by Spencer Johnson

  • Rich Dad's Cashflow Quadrant by Robert Kiyosaki

  • The Power of Full Engagement by Loehr & Schwartz

  • I'm a Stranger Here Myself by Bill Bryson

Plus a full range of books on Real Estate Investing and books for the Real Estate Professional.

For information on Buying, Renovating
and Selling Real Estate go to
http://www.USHomeInvestor.com

If you are a licensed Realtor® interested in becoming a
Home Investor Specialist™ go to http://www.ushomeinvestor.com/rltr/

If you are looking for packing boxes, get great prices on boxes of all shapes and sizes, including complete moving kits at Moveout!

Forward To A Friend

If you would like to forward this email to a personal friend, please be sure to forward the entire email, including the copyright statement below.

©2004 BizBrick Corporation. This email may not be summarized or edited in any way and it may not be copied in any form without written permission from BizBrick Corporation. A limited copyright release is provided for the personal use of the recipient and not for commercial use. This email may be forwarded in its entirety to no more than 15 people. It may only be forwarded whole and not in part and this copyright statement must be included. This email may not be used in any for of unsolicited email campaign or SPAM. The information contained in this email and on any associated or linked website is for entertainment purposes only. No investment decisions should be made solely upon the advice given within this email or its associated Internet content. Investors should consult with appropriate Real Estate Professionals, Lawyers, Accountants and Investment Advisors before making any property investment decisions.
 
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