Listing Courtesy of COLDWELL BANKER RESIDENTIAL BROKERAGE
Especially when it comes to major decisions like buying or selling your home, human nature seems to tilt toward delaying action until it’s the end result is absolutely certain. After all, nobody wants to make a life-changing move that turns out to be anything short of fantastic!
So even when you’ve outgrown your current home…or found yourself in a daily long-distance commute because work has moved…or any number of other reasons why you know you should be looking for a new house…it can be difficult to commit to such a looming decision. Adding to that is one of the most common assumptions many Ocean View homeowners believe: that they have to spend a boatload of money to increase their home value.
The truth is: it ain’t so! You can strategically update your Ocean View house before you put it on the market without cratering your bank account.
Items that only seem to require costly fixes:
· Make it Spacious
Adding space to a room increases any Ocean View home value. Tearing out walls isn’t necessary when there are so many other ways to achieve the same thing. Simple options include removing built-in shelves, enlarging windows, or (the simplest) just removing “stuff” that’s hogging perceived space.
· Go Green
More and more, you can improve your Ocean View home value by installing modest “green” upgrades. Today’s buyers may not necessarily be eco-focused—they may simply have a good sense of the increasing cost of water and power. “Going green” as a way to add home value to your area property can be no more costly than switching to low-flow toilets, adding a wifi thermostat with “smart” technology, or putting in a low cost drip watering system.
· Window Update
Have a room that comes across as outdated…or just plain ‘blah’? Consider how much extra home value a new window treatment might add. It could be as simple as installing a stylish valence over a window or two.
· Change the Doors
Remember your first apartment with its flimsy, hollow doors? A quality door can make a disproportionate difference to a property’s perceived home value. Changing out your front or back doors for more a more weighty or modern selection can be well worth the expense.
Paint is the number one way to alter the look of a room inexpensively. Instead of painting the entire room one color, another option is to make a “statement wall” in its own neutral color that compliments a painting’s or picture frame’s palate.
These are just a few suggestions that can increase the value of your home in Ocean View without a straining the family finances. Even in an older home, many times it’s the little touches that can make the greatest difference.
Looking for specific suggestions to improve the value of your Ocean View home before listing it for sale? Call me today for an in-home market evaluation!
Every landlord has had the feeling at one time or another that a prospective Ocean View tenant may not be a good choice. Call it a hunch, or intuition—but something tells you that this tenant may be trouble down the road. There is more than enough riding on the decision to make you want to pay attention to your instincts, but that’s where being aware of the dos and don’ts of tenant management comes into play. You need to protect your business and property, but in so doing, you also need to heed outside factors.
Chief among those factors is the housing laws and regulations. This is a realm where there’s no shortage of fine print—and since I don’t offer legal advice, we needn’t wade into the technical weeds. But there are some common sense concepts that should shed light on the subject.
One of the key things to remember is that it is frowned upon to arbitrarily accept or reject tenants based on personal preferences or whims. Of course, a landlord does own the property whose use the tenant is asking to borrow, but nevertheless, most people understand why anti-discrimination laws have been created. Some feel they go too far—some, that they don’t go far enough—but at any rate, one fact is indisputable: ignoring the rules can have bad consequences.
One easy-to-follow idea is to prepare your own written standards for accepting prospective Ocean View tenants (standards that are certain to not contravene discrimination guidelines). Another that is universally considered good practice is to require every applicant to fill out an application form with the kind of information that state and federal guidelines allow. When everyone is required to complete an application in full, failing to do so becomes grounds for rejection. The kinds of information should be relevant to the landlord’s business needs; and the standards may be high or low, as long as they are evaluated evenly for every applicant. Some common criteria:
· Prospective tenants should never have been evicted from a property.
· Prospective tenants should have a credit score above a certain level
· They should have no record of any judgments having been levied against them for failure to pay utilities.
· They should have proof of employment and enough income to reliably pay rent (the national average income level is 3 times rent).
· Prospective tenants should supply references from previous landlords—references that can be verified over the phone.
Of course, none of this means a landlord is required to rent to just anyone who comes by. The key is to define the ideal tenant, make sure that ideal isn’t based on random discriminatory criteria (like race or sex or religion)—and then to adhere to a consistent evaluation process. And the fact is, the potential financial rewards should more than compensate for heeding the basic ground rules.
If you will be taking a look at the inviting opportunities that Ocean View income properties currently offer, I’d like to show you some of the best ones. Give me a call!