Wednesday, August 29, 2007

By improving the exterior you can sell a fixer-upper!

The saying you broke it, you fix it can somehow apply to the business of buying and reselling property. Only this time, it’s you buy it and you fix it.


One of the first areas a buyer of a house will notice when checking out property is the exterior. It is the task of the landscape architect to make the garden top notch and appealing for a possible client.


Similar to that of the engineer and the building he constructed, a landscape architect envisions the planning, design, rehabilitation and preservation of the man-made property, such as in this case, real estate or simply fixer upper homes.


Hiring professionals to assist you in the landscaping of the property’s exterior maybe costly, that is why if you can do it by yourself, why not? Here are some guidelines that may assist you in improving the landscape’s exterior.


1. Make the best out of curb appeal
Now there’s something aesthetically appealing with a downward slope portion of the ground when checking out a garden. It’s simple but landscaping on slopes isn't an easy task.


First, you need a retaining wall. Think of it like you’re getting retainers after years of wearing braces. A retaining wall assists in preventing erosion.


You can build your own stone-retaining wall. All you need are a mason’s hammer, shovel, garden hose and a couple of stakes.


Terrace the slope by building retaining walls that could hold the soil in two or more places. A mortar-less retaining wall comes in with a drainage system which means water seeps through the cracks between the stones. However, when damage from such water pressure takes place, it can easily be repaired.


Choose stones that have two flat sides which will be placed atop the retaining wall. The heavier the stones, the more stability it will provide. The heavier the stones, the greater work you’ll have to do lifting it. It’s for the best anyway.


For your wall to withstand external pressure, dig a trench about eight to ten inches deep, fully submerging the first row of stones. Check that the stones are leveled. Just because it is a downward slope doesn’t mean the stones should be jagged when lined up. After completing the first layer of the foundation, continue with the next course of stones. Tuck in soil when there is a gap in between the terraces. Cascading plants such as lobelia and thyme are also appealing when planted in stone retaining walls.


2. Cleaning out and replacing flower beds
Of course, even plants need a fresh start. In landscaping, it is also advisable that plants get replenished. Treat the weather like it is spring and you’re about to embark on a change, so that’s why you clean out the flower beds.


Remove the dead foliage from the past seasons. Make sure that the flowers are given enough fertilizer and water to be replenished again. The flower bed soil must be healthy so that the nutrients will be taken in by the plants.


By replacing flower beds, make sure that the flowers you will purchase and plant are those that are in tune with the season. Ask a flower expert about the right care for the plants.


It is also advisable that the cleaning extend not only up to the flower beds but also to the lawn. A green, lush healthy garden is always something that captures the attention of a possible buyer.


3. Maintaining the lawn
What could be one of the hardest tasks in bringing out the beauty of a garden yet again is the lawn. First step you must do is to get the right type of grass to plant. Afterwards, purchase the fertilizer and ask the plant specialist when it is advisable to fully water the lawn.


Getting a gardener to maintain and water the lawn once a week will help in improving the lawn’s beauty to the onlooker’s eye. Make sure to get someone who you can trust, who will do the job efficiently and quickly with an asking price that won't be a hassle for you to shell out.


Some landscape architects also consider providing xeriscape to the exterior. This is where the retaining wall comes in. When done correctly, then erosion and the unwanted water can be suppressed from coming in and destroying the plants in the garden.


It is the landscape architect’s job to improve the exterior of a buy-and-sell house just as it is an architect’s job to improve the interior. Just like when you’re checking out someone you see in the bar, the physical appeal also matters.

How to Avoid Ho-Hum Interior Design Changes

Next to the outdoor appearance of a home – what it looks up front and when you’re standing outside the gate – the next most important thing that will weigh heavily on a prospective buyer’s mind is the interior design. You need to make the most out of the first encounter between the upper-fixer you’re selling and the client. You need to make them exclaim WOW and not make a ho-hum-boring sigh!


Repainting the Walls and Ceilings
Walls usually dominate and set the tone for any room. That’s why it’s important to choose the right paint or wallpaper when renovating any room or home. Painting is less costly than having new wallpaper upholstered and since upper-fixer renovations are frequently subject to budget constraints, painting is ultimately your best option when it comes to changing how the walls appear.


Always use a primer or base coat when painting walls. Make sure that the primer’s color matches the surface paint color of the wall to achieve a beautiful blending and layered effect. Using a primer will also help save money because it often makes a second coat of paint unnecessary.


If it’s your first time repainting walls and ceilings, don’t hesitate to ask for tips from the people working in hardware stores. You should know that certain types of paint brushes work better for certain types of paints. Foam brushes, for instance, are great when used to apply simple touch-ups. Never paint on a wall or ceiling that needs fixing. Have them repaired first before applying a fresh coat of paint.


Choosing one color for the entire home will again help you stick to your budget because all you need to purchase is the primer and the surface paint color. If, however, you wish to make use of varying colors, keep in mind that different colors and textures produce different results. Matte or flat finishes for walls are better able to hide any of the walls’ imperfections. Glossy finishes, on the other hand, are able to reflect more sunlight. Cool shades like blue and green – water hues, in other words – are said to give rooms a cooler atmosphere while hot shades like red, yellow and orange can make rooms warmer than it is.


How to Maximize Space
Most clients – if not all – love spacious homes and this is why it’s important for you to maximize space in the upper-fixer you’re planning to sell, especially if it’s of limited size only. If your budget permits it, consider adding windows to your house because they create the illusion of added space. Mirrors have a similar effect as well but you should be careful with where you plan to place them. Look for any part of the house that’s “under-used”. If the kitchen has more than enough storage space, you could turn the pantry into a bathroom. The area under the staircase is often overlooked; consider turning it into a storage closet or a small bathroom.


Tackling the Dirtiest Parts of the House
The kitchen and the bathroom are considered by many as the dirtiest parts of the house because a lot of activities often take place in these areas. And since use of water is mostly involved, these rooms often have muddied and moldy appearances. Consider making changes to the walls and floors that would give them better protection against the damaging and other unappealing effects of exposure to water. Using dark colored tiles in bathrooms, for instance, will easily make dirt and mud less visible. In the kitchen, consider using laminated countertops because they are more durable and absolutely easier to clean.


Cleaning and Polishing as the Finishing Touches
When all is said and done, the last thing you should do in preparation of having prospective clients come over for an open-house is to give it the benefits of a general cleaning session. No speck of dust must be left in any part of the house. Polish the floors, the banister, the window rails and every door knob in the house. A clean house will always give a better impression than one that’s beautifully designed but neglected.


Hiring a Contractor
Lastly, don’t be afraid to ask for help if you need it. Hiring a contractor may mean paying extra fees but this decision can help you avoid more costly mistakes!

How To Find the Right Area For Fixer Uppers

A Fixer Upper business venture could very well be your way out of the 9-5 day job. Not only does it hold the possibility of earning more, it also gives you a good opportunity to manage your own time, travel and meet new people. Plus, the extra money doesn't hurt.


Those that have become rich as a result of fixer uppers testify to the fact that while it can be a little risky, especially at first, it could be well worth the sacrifice and the risk. It is a very attractive, well-earning business with a very good rate of return.


Depending on how your business is financed, buying and selling properties may involve either very little or a lot of money. One good way to leverage your interest is to employ the use of other people’s money.


Any successful fixer upper will tell you that the secret to success is the knack to find good properties that are seemingly unsellable, but when fixed up can actually fetch more than its weight in gold. While some have an almost preternatural ability to nose up such properties, there are ways that everyone can learn to sniff out good property buys.


1. Doghouses – the term doghouses come from homes that aren't structurally damaged, only unkempt and needing cosmetic upkeep. Some homeowners have good sound homes but neglect to do simple things such as clean the confines, plaster the wall with paper, and keep the roof in good repair and such.


These houses may be in such a condition because the owners are both lazy, in dire financial straits and unable to maintain their homes, or planning on moving anyway. In such a case you will want to inspect the home closer, you could be in for a pleasant surprise.


If you spot such a house, you will do well to investigate more since you have, in front of you, a good chance of snagging a diamond in the rough.


Owners of such houses find it hard to sell these houses even if there is only minimal damage. This is because they are unattractive and people tend to have the inability to look beyond minor faults to find a good sturdy house standing in front of them.


2. Look at the Neighborhood – Do a little research on the neighborhood to find out if the area is a booming area worthy of prime property prices. Some properties, no matter how wonderful they may look like, can't fetch good prices because they are in bad neighborhoods, or are in areas that are underdeveloped.


Ask around the neighborhood for signs of improvement in the last few years. Check out the amenities of the area, the community support, and the general impression of other people on the neighborhood.


Good house hunters are able to catch a good neighborhood on the rise, just along the time when property space is cheap and right before the area experiences a boom in property prices. Other things to ask about are crime rates, accessibility, proximity to hospitals, schools, and other community fixtures.


3. Ask the Mayor – If you have contacts, it would be nice to know the government’s plans for the area. If the government plans to develop the area, create higher class amenities and housing then there could be a sudden surge in the prices in the area. This is then a good time to catch the wave before prices skyrocket.


You could also research plans for companies and consortiums to develop malls, transportation, and other facilities. These could radically affect the prices in the area. If you are able to anticipate this ahead of time then you are in line to make good money from this business.


4. Crime – Crime and community is a major factor in the choice of a home. Make sure that the properties you put your sights on have low crime rates and have a strong sense of community. This means that the people in these areas should get along with each other. This is a very important aspect of the choice of home for most people.

How to Give a Fixer-Upper the Perfect Makeover

It’s not only ugly ducklings that get makeovers. These days, even houses are in need of image renovations. In real estate lingo, fixer-upper is the term used to describe a house in need of remodeling or repair. Buying and selling fixer-uppers can be a sound investment…if you follow our tips below.


DON’T FALL IN LOVE AT FIRST SIGHT
Remember that beauty is in the eye of the beholder. So a house that seems absolutely wonderful to you doesn’t necessarily mean it’s similarly perceived by others. Choose a fixer-upper that appeals to your mind, heart and pockets! Avoid choosing one with a market value that’s equivalent to your total budget. If you do, you’ll have no money left for repair and you might end up with a home that sells lower than its original and expected value.


REMEMBER THE 4 R’S
Let’s say that you’ve already chosen a fixer-upper to buy and you’re just waiting for the deal to close. In the meantime, take a tour of the house and try to identify its flaws. Keep the 4 important R’s in mind as you walk from room to room – remodeling, repairs, renovating and refurbishing. Each one is different from another and there’s a chance that you might make use of all of them later on. It’s better to be prepared beforehand so you know how to allocate your budget appropriately.


GET AN EXPERT
Unless you’re a real estate expert yourself, it’s better to hire a qualified individual for a day and ask him which aspects of the house should be repaired or modified in some way. Accompany him from room to room and write down everything he says. Don’t hesitate to ask questions because keeping mum at the wrong time may prove to be a costly mistake later on! It’s very important to be able to get a full structural survey of the house while you’re with your hired expert. The survey shall serve as your guideline or blueprints when you start reinstating the house to its original beauty.


GET ANOTHER EXPERT
An fixer-upper may not benefit from the expert eye of a real estate professional. It must also be looked over by other experts before it can be fully judged as functional and sellable.


Start with an electrician. Ask him if each and every outlet is currently working and if the house has any faulty wiring. If it’s presently without any electricity, ask the electrician how much it would cost to have the house wired. If you’re particularly concerned with the environment, you can also ask the electrician to survey the house and have him tell you what you can do to make it an energy efficient home.


Lastly, get an engineer to view the house. With the trail of disaster left by super hurricanes still printed indelibly in our minds, you can’t blame homeowners if they express concern about the stability and the foundation of the home. Ask the engineer to estimate up to what magnitude on the Richter scale the house is able to survive.


TAKE PHOTOS OF EVERY NOOK AND CRANNY
You can never be too sure that you haven’t overlooked anything about the house. And since you can’t bring your investment home, the next best thing to do is take as many photos as you can of each room of the house. Take at least four photos for every room (one for each side).  Remember to set the size of photos to its maximum capability. Take an extra memory card just in case you run out of memory. This way, you’ll be able to study each photo in full-blown detail. Get a friend to look over the photos with you because four eyes work better than two.


CHECK WITH YOUR ACCOUNTANT
The last thing you should do is set up a meeting with your accountant, financial advisor, bank manager or whoever it is that gives you advice about your finances. Explain the present state of the house and leave no stones unturned. Seek their wisdom and ask specifically up to how much you should be willing to spend on the house and how much to sell it for.


Keep these tips in mind and you’ll surely end up with a beautiful swan of a home!

Fixer Upper: A Home Inspection Professional Is Essential To Identify Major Plumbing And Electrical Defects

Fixer uppers are homes that usually need a moderate number of home repairs generally not requiring special knowledge or expertise on your part, as the homeowner.
Fixer upper homes can be excellent bargains when the “asking price” is significantly lower than comparable homes nearby but in good or excellent condition.


An fixer upper needing a cosmetic fix-up can be a great property.  They generally need some repainting outside and inside (paint can do a lot of wonders), floor refinishing or new carpets, new lighting fixtures, little repairs, complete cleanup and landscaping.


If the home necessitates massive repairs such as electrical and plumbing problems that usually are expensive, it will slash your profit back or worst, eliminate it.


Before purchasing a house you believe is an effortless fixer upper, a professional home inspection should be considered because the inspector can provide you an accurate idea of what existing problems the home has and what repairs are needed as well as an approximate repair cost.


Here are frequently found fixer upper defects that might need your attention:


• Roofing


• Insulation


• Plumbing system


• Electrical system


• Central heating


• Central cooling


• Water seepage


• Structural
 
These defects requires expensive professional repair especially when talking about the value these repairs will return upon resale.


Most often, these major defects go unnoticed because fixer upper buyers usually can't see the inside workings, hidden out of view behind walls or covered inaccessible areas that are often taken for granted.


Cracked “heat-exchanger” in the heating system, faulty wiring, termite damage and safety and health problems like lead accumulation, water pipes as well as asbestos insulation are common physical flaws that you can't see immediately.


Indications of these hidden problems are as follows:


• Moisture stains that can be found on ceiling and walls could mean plumbing problems.


• Separations between wall and floor specifically for outer walls could mean structural problems.


• Sawdust piles near woodwork or wall corners can be an indication of termites.


A home inspection from a professional


A professional home inspection can cost about 200-325 dollars depending on the kind of property, location, square footage, etc.


When hiring a professional home inspection of fixer upper houses, it is wise that you obtain quotations first from several competing companies. However, the lowest bidder shouldn't be immediately given the job; aside from the price, you must inspect the “quality of service” they offer as well as the company name.  It is important to choose a company with a good reputation.


Several home inspection companies have some kind of computer-like machines which can supply inspection reports and descriptions instantly then the company adds their “pre-printed” sections which are very helpful for you in order to understand the fundamentals of repairing, fixing and replacement.


Furthermore, home inspection companies supply an entirely impartial appraisal and assessment of the house, inspecting everything carefully from electrical systems, plumbing to structural to make certain that the fixer upper house you are purchasing is sound.


Professional home inspectors can make certain that all major systems (air conditioning, plumbing, furnace) are working properly or they can pinpoint defects to you because these kinds of repairs will cost you a great deal of money.


However, do keep in mind that major repairing problems don't automatically indicate that you shouldn't purchase the fixer upper home, because they can and should be added in the home’s price negotiations.


A good fixer upper seller or realtor will and can factor in said considerations or concerns and you possibly can purchase the home for even less if you put it clearly that you will be responsible for the repair or replacements. Just be careful that you don't get tricked. Never take anybody’s word that the plumbing, the furnace or the electrical have no problems at all; you have to make certain.


Sometimes you can easily “walk away” from an excellent fixer upper home deal in a terrible neighborhood. At times, when you can specifically pin point what repairs and replacements are necessary, you can obtain a substantially lower price.


The trick in fixer upper homes is to discover those necessary repairs because often, the home seller won't point those out to you.