Grant Trevithick Fort Worth Real Estate Investor Pro Tip - Tips to improving your homes value...without breaking the bank.

Grant Trevithick Fort Worth real estate investor here wishing everyone a happy New Year. It's been quite some time since I have discussed the basics of owner financing with you. This is the first of a series of posts reviewing the use of owner financing when selling or buying a property. Although the process has remained basically the same for years it's time to review them again. Today we are going to be talking about some of the top  home improvements that you can make that will add value to the price of your home while at the same time taking at the process if you are not in a position to make those improvements. 

Remodel Your Kitchen - Buyers look most carefully at kitchens and bathrooms, so you should, too. You can recoup 82 percent of a minor kitchen remodel and 74 percent of a major kitchen remodel. If you’re selling using Owner Financing and need to sell quickly, don’t overspend on your kitchen. You may be able to do a couple of relatively minor fixes, such as  painting the cabinets, or just replacing the counters with granite to garner a good offer.

Update Your Bathroom - While a full, upscale bathroom remodel project can cost over $50,000, you can make cost-effective minor upgrades. Get a 73 percent return on your investment with these bathroom upgrades: Replace your fixtures and your mirror, repaint the space, and jazz it up with some crown molding (depending on your home’s style) and you’ll have a space that looks new. This is especially true if selling using Owner Financing. It's generally accepted that people using this way to buy a home accept that there may be more repairs or updates needed to bring the home up to date. 

Updating Living Areas - These days, it's all about space for entertaining. By updating fireplaces with new screens or floors or updating built-ins to accommodate newer TV sizes, updated entertaining space will increase the value of your home. If selling using Owner Financing I recommend not deciding for the new owners on carpet or wood flooring or the type of counters if they are in need of replacing. Instead make a fair estimate of what those items will cost and share that cost with the new owners by lowering the cost a bit. Most will like the opportunity to not only choose their own, but to do it on their own time.

Replace Your Front Door - You may not even notice your front door anymore, especially if you regularly use another entrance, but a new steel front door does make a great impression. That being said, my suggestion is much like flooring...let the new owner decide on what they like and need. Just paint it and replace the hardware if you do want to make an inexpensive statement for showing the property. it will have a very similar impact.

Add a Deck or Patio - No matter where you live, buyers want outdoor living space. You can recoup 87 percent of your investment on a new wood deck. If you already have outdoor space, consider sprucing it up with a water feature, an outdoor fireplace, or new landscaping. Once again, why lose 13% of your project expenses to create a space you never had while living in your house. Make sure the area is clean, make sure there are no pet messes, and show that it can be used om move in day. Let the new owners  build their own deck. 

Replace Your Windows - Buyers are interested in how your windows look and their energy efficiency. Whether you’re replacing vinyl or wood-frame windows, you can get a 79 percent return on your investment. When you’re ready to market your home, be sure to highlight the new windows as a selling point. The Owner Finance client generally wants to make sure that all window and door areas are secure with no challenges regarding security and leaks of air or rain. If that's your expected client make sure of this, and move on.

Replace Your Siding - If your home’s exterior needs a major makeover, you can typically recoup 78 percent of your investment by replacing vinyl siding. If you replace your siding with a fiber-cement mix, you can recoup a whopping 87% of your costs. Curb appeal counts in any market and it counts no matter the way you are selling you property. Make sure a weekend of clean-up, some paint and even the planting of a couple simple shrubs aren't all it takes to paint the picture you need for the Owner Financing client. 

Add Space/Attic Bedroom - Depending on your budget and your goals for your home, an addition of extra bedrooms and bathrooms, a finished attic, or an expanded casual living space can rapidly increase the value of your home. You can recoup 84% of your investment in a new bedroom or finished attic. Unless you have already made this major design change in your house spend you time and efforts in other areas to create an appealing picture to the new owners.