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Labor. Materials. Pizza?
Some costs do not fit neatly into a renovation project’s line-item budget, but if you ignore hidden costs, you will be left wondering why your wallet has sprung a leak. Prepare for these often unanticipated expenses:
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All real estate is local, but it’s national real estate statistics that dominate headlines. If you wish to identify emerging trends relevant to your market, ignore such perennially popular statistics as the number of houses selling. Instead, focus on two other key metrics:
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All of a sudden there are not enough houses for sale to meet homebuyers’ rising level of demand. Could you pull off a fast-and-dirty flip—buying low, fixing quick, and selling in a rebounding market?
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At times it’s necessary to walk a fine line when remodeling. On the one hand, you want to give your house distinct appeal, but on the other hand, you should avoid making your residence so idiosyncratic (or so plain-vanilla) that it won’t appeal to potential buyers. Here are three strategies to help you stay ahead of the market:
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House hunters today aren’t necessarily fixated on luxury finishes like stainless steel. They are practical and focused on function, willing to pay more for a house whose features align with their buying priorities—especially if the seller can spare them the average $4,550 that 53% of buyers spend on improvements within three months of closing.
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Will your project pay off? For a trustworthy estimate, consult Remodeling magazine’s annual Cost vs. Value report to find comprehensive data you can use to gauge whether a given upgrade is likely to add home value.
Home values are bouncing back—is the trend strong enough to support your bid for a home equity loan?
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That choking sound you hear is the echo of real estate deals not getting done, because suddenly, buyers can’t find houses they want. In markets where buyers are clamoring for properties, this spring may give sellers the rare opportunity to cut agents’ commissions, and in so doing, save a bigger slice of hard-won equity.
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“Curb appeal” is real estate jargon referring to the first impression your home makes on prospective buyers. With about 90% of house hunters sifting through online listings to narrow the field of choices, curb appeal now takes place in the digital domain. Here are three ways to ensure that your online listing isn’t a drive-by:
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Unhappy with the job your contractor did? Peeved at your local hardware store’s churlish service? Annoyed with the runaround you got from a real estate agent? Just use an online review site to gain a small measure of revenge and to satisfy yourself by warning others. Right?
