Why Remodeling Your Home Is Worth It

If you are considering selling your home at any point in time, please read through this post because it will be very beneficial to you. Two years in a row now, the cost compared to retained value of remodeling your home has gone up. What does this mean? Basically, it is becoming increasingly profitable to remodel your home in one way or another. Every 20 years or so there is a need for remodeling due to obvious reasons; trends change and styles go out of style. Now is that time! New buyers are putting stress on new types of features. As a real estate agent out in the trenches seeing multiple homes every day, I can testify to the fact that most homes out there need some type of remodeling. The homes that sell quickly and for the highest prices are the ones that have been recently remodeled and updated.

What do I mean by remodeling? Remodeling includes projects such as the following:

- Remodeling the attic for an extra bedroom (Average project cost: $49,438; cost-to-value ratio 84.3%, an increase of 15.6% compared to 2013.)

-Remodeling (finishing) your basement (Average project cost: $62,834; cost-to-value ratio 77.6%, an increase of 10.4% compared to 2013.)

Although these are very beneficial remodeling projects, you may not be willing to spend those amounts at this point in time. If you are considering selling your home very soon, you may want to look more into replacement projects with the best return on investment. Some of the best replacement projects you can do are replacing the windows, siding, roofing, and the garage door(s). However, the most important and cost efficient replacement project:

- Entry door replacement (steel) - this replacement will return approximately 96.6% of the cost into your pocket. There is a low initial cost to replace the entry door and it adds a tremendous amount of curb appeal (Also, the entry door is the first thing the buyer will notice before walking inside and the first impression is CRUCIAL.)

One more aspect to consider which will add a lot of value to your home, as well as having the largest increase in percentage of cost-to-value ratio: back-up generator. These past years have been a flurry of storms, whether it be rain, snow, wind, etc. power outages have been way to frequent for people's liking. A back-up generator, more than anything else, adds security and comfort to a home. It would be well worth the effort to have one installed on your home.

[chart and statistics research found on http://www.remodeling.hw.net/cost-vs-value/2014/trends]

AVAILABLE NOW!! STUNNING COLONIAL!! Bridgewater Twp, NJ

$749,000
3 Yohn Dr, Bridgewater Twp
MLS#: 2980046 <-- CLICK HERE FOR MORE INFO!! 
Status: Active
Style: Colonial
Rooms: 9
Bedrooms: 4
Full Baths: 2
Half Baths: 1


Remarks: Beautiful, Stunning, like-new,solid well bulit brick face Colonial home on a very private cul-de-sac neighborhood. A Bright & spacious Open floor plan and a Grand two story Foyer entrance 


IF YOU ARE INTERESTED PLEASE CONTACT ME!!

Mortgage Rates Begin Their Rise!!

     I have been following the mortgage rates throughout the past year and making periodic posts here on my blog in order to inform you of the incredible opportunity to obtain a mortgage at such a low rate. I also have been mentioning that these rates, although magnificent, will not remain this low forever. The mortgage rates have been hovering around 3.5% for quite some time and I had estimated an increase to 4% by the end of the year based on the reports I had been reading. However, it seems the mortgage rates began the up-swing earlier than I expected, moving much closer to 4% and also obtaining the highest levels in a years time; according to Freddie Mac's weekly mortgage market survey. The 30-year fixed rate mortgage, which is the most popular choice among home buyers, has jumped nearly half a percentage point since the beginning of this month. The mortgage rates went from 3.35 percent to 3.81 percent just this week.

"Fixed mortgage rates followed long-term government bond yields higher, following a growing market sentiment that the Federal Reserve may lessen its accommodative policy stance,” says Frank Nothaft, Freddie Mac’s chief economist. “Improving economic data may have encouraged those views.”

MY ADVICE!!!

     Although the mortgage rates are on the up-swing, we NEED to remember that, historically, the mortgages rates are still tremendously low. Personally, I have not experienced a market with very HIGH mortgages rates, therefore I will throw in some advice from my Broker who has been in Real Estate for almost 30 years, "anything under 7% is a very good position to be in." Therefore, we are still in a good position to obtain a mortgage, if anything this is just a sign that you NEED to make a move now in order to lock in a great rate for your future. The rates could take another dip down to 3.5 or they could jump to 4.5 but you cannot base your future on an assumption. If this is the time to buy for you then, as they say, strike while the irons hot!

Best of luck with your home searches and if I can be of assistance (which I know I could be) then please do not hesitate to contact me. I am available to answer any questions you may have.