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Alberto Romero's Blog

Some lines to educate about Real Estate

By Alberto Romero | Managing Broker in Miami, FL
  • Oasis Park at Doral - Lujo y confort en Miami

    Posted Under: Home Buying in Doral, Investment Properties in Doral  |  July 12, 2013 2:05 PM  |  851 views  |  No comments

    Ubicado
    en medio de la ostentación y el glamour de Miami, una de las ciudades de destino más populares en el mundo, ahora se puede encontrar una lujosa urbanización como ninguna otra. Diseñado para aquellos con un ojo para el estilo, las residencias en Oasis Park Plaza en Doral ofrecen, arquitectura urbana contemporánea y elegante diseño en cada detalle. Desde el la distribución abierta diseñada con líneas suaves y opciones únicas, a un retiro personal en la azotea con una cocina al aire libre magistral y una bañera de hidromasaje privada, Oasis da la bienvenida a descubrir un mundo moderno de confort sofisticado, sin igual.












  • Banks are paying homeowners up to $35,000 to list and sell their homes. Learn Why

    Posted Under: Home Selling in Miami-dade County, Financing in Miami-dade County, Home Ownership in Miami-dade County  |  June 25, 2013 9:39 AM  |  1,091 views  |  No comments

    What are short sale incentives? Cash short sale incentives are used by banks to entice borrowers to short sale their homes. For instance, Bank of America has a COOP program that allows people to receive $2500 at closing. Bank of America also has state specific short sale programs that can also provide an additional $30,000 at closing.

    Other banks have these programs as well; Chase has a great program that can allow the seller to receive up to $35,000. We have personally seen borrower’s walk from closing with checks so these programs are very much for real.

    Our Government has the HAFA Program which will provide $3,000 at closing; we can help you identify what program you may qualify for.

    Lear more about Short Sale reading my post: http://www.trulia.com/blog/aromero/2013/03/facing_foreclosure_what_are_the_options

    Banks are paying homeowners up to $35,000 to list and sell their homes. Learn Why

    What are short sale incentives? Cash short sale incentives are used by banks to entice borrowers to short sale their homes. For instance, Bank of America has a COOP program that allows people to receive $2500 at closing. Bank of America also has state specific short sale programs that can also provide an additional $30,000 at closing.

    Other banks have these programs as well; Chase has a great program that can allow the seller to receive up to $35,000. We have personally seen borrower’s walk from closing with checks so these programs are very much for real. In our guide it explains to you how to get started.

    Our Government has the HAFA Program which will provide $3,000 at closing; we can help you identify what program you may qualify for.

    Learn more in the short sale guide… Get The Free Short Sale Guide 

    In our guide you’ll also learn exactly how to start the short sale process if you decide that that is the best choice for you. Remember we can help you find out what 2012 short sale incentives are available to you.

    - See more at: http://www.whatisashortsale.org/what-are-short-sale-incentives/#sthash.gSULmaOb.wJPYxSwo.dpuf

    What are short sale incentives? Cash short sale incentives are used by banks to entice borrowers to short sale their homes. For instance, Bank of America has a COOP program that allows people to receive $2500 at closing. Bank of America also has state specific short sale programs that can also provide an additional $30,000 at closing.

    Other banks have these programs as well; Chase has a great program that can allow the seller to receive up to $35,000. We have personally seen borrower’s walk from closing with checks so these programs are very much for real. In our guide it explains to you how to get started.

    Our Government has the HAFA Program which will provide $3,000 at closing; we can help you identify what program you may qualify for.

    - See more at: http://www.whatisashortsale.org/what-are-short-sale-incentives/#sthash.gSULmaOb.UXr21gSj.dpuf

    What are short sale incentives? Cash short sale incentives are used by banks to entice borrowers to short sale their homes. For instance, Bank of America has a COOP program that allows people to receive $2500 at closing. Bank of America also has state specific short sale programs that can also provide an additional $30,000 at closing.

    Other banks have these programs as well; Chase has a great program that can allow the seller to receive up to $35,000. We have personally seen borrower’s walk from closing with checks so these programs are very much for real. In our guide it explains to you how to get started.

    Our Government has the HAFA Program which will provide $3,000 at closing; we can help you identify what program you may qualify for.

    - See more at: http://www.whatisashortsale.org/what-are-short-sale-incentives/#sthash.gSULmaOb.UXr21gSj.dpuf

    What are short sale incentives? Cash short sale incentives are used by banks to entice borrowers to short sale their homes. For instance, Bank of America has a COOP program that allows people to receive $2500 at closing. Bank of America also has state specific short sale programs that can also provide an additional $30,000 at closing.

    Other banks have these programs as well; Chase has a great program that can allow the seller to receive up to $35,000. We have personally seen borrower’s walk from closing with checks so these programs are very much for real. In our guide it explains to you how to get started.

    Our Government has the HAFA Program which will provide $3,000 at closing; we can help you identify what program you may qualify for.

    - See more at: http://www.whatisashortsale.org/what-are-short-sale-incentives/#sthash.gSULmaOb.UXr21gSj.dpuf
  • Miami Condo Inventory Slightly Rises, Remains Insufficient to Satisfy Demand

    Posted Under: Home Buying in Miami, Investment Properties in Miami  |  June 24, 2013 2:23 PM  |  959 views  |  No comments


    Sales figures for May show more homeowners are listing properties for sale, but strong demand for properties in all price ranges and limited low-end supply continue to drive prices, according to the 27,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. 

    Single-family home sales surged 18.5 this May compared to May 2012. Condominium sales increased 3.9 percent compared to last year’s figures.  

    May’s sales performance marks 18 consecutive months of appreciation for both single-family homes and condominiums. The median sales price of single-family homes increased 16.8 percent to $222,000 year-over-year but decreased a negligible 1.3 percent compared to the previous month. The median sales price of condominiums, which has significantly increased each of the last 23 months, rose 20 percent to $180,000 compared to a year earlier and 2.9 percent compared to the previous month.

    “Miami continues to attract worldwide attention, as foreign and domestic buyers flock to our exciting city,” said 2013 Chairman of the Board of the MIAMI Association of REALTORS Natascha Tello.  “The local lifestyle, global business environment, and strategic location between Latin America and Europe are driving population growth that is fueling strong demand for property sales and rentals.  This activity makes Miami attractive to buyers and investors who perceive local real estate as a profitable investment.  Yet we are still experiencing a housing shortage, which makes now a great time to sell.”

    Statewide sales of existing single-family homes totaled 22,375 in May, up 18.7 percent compared to a year ago, according to the latest data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor associations and MLSs. Statewide condominium sales totaled 11,201, up 11.5 percent from May 2012. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 4.2 percent from April and were 12.9 percent higher than they were in April 2012, according to the National Association of Realtors.

  • 7 Reasons Your House Isn't Selling

    Posted Under: Market Conditions in Miami-dade County, Home Selling in Miami-dade County  |  June 17, 2013 7:38 PM  |  886 views  |  No comments

    Having trouble attracting a buyer? How to overcome some common obstacles to a home sale.

    Housing is back. The market is starting to hum again—even roar in some areas, with demand outstripping supply. A new report from the National Association of Realtors shows that sales of existing homes in February saw the most growth in more than three years. But a stronger market isn't a guarantee that you can sell your house. There will always be reasons people won't buy what you're offering.

    If you've been having bad luck on the market, you may want to cross the street, hold up a mirror and take a good, long look. According to numerous housing experts, the most common reasons your house isn't selling are the following.

    1. You're pricing it too high. Without question, the No. 1 reason a home doesn't sell is price, Sellers have an emotional attachment to their homes and tend not to objective about the true value.

    2. Your house is kind of run-down. This doesn't mean you need to renovate your kitchen or fix your leaky roof. Well, you do need to fix the leaky roof, but you don't need to spend $40,000 on a new kitchen. Sometimes it's as easy as doing some fresh landscaping or a fresh coat of paint in certain areas.

    3. Your house isn't run-down, but it looks like it might be. "Any signs of water damage can be a huge turn-off to potential buyers. Take a water spot on the ceiling. The offending roof might have been fixed 15 years ago, but if the evidence is still there, buyers will assume there's still a problem, water damage makes buyers understandably jumpy, and can keep a home on the market indefinitely.

    4. There's too much "you" in the house. It sounds cruel, but you want to sell your house to other people, who can imagine themselves living in your house. Simply put, you are not them.

    This is perhaps the most common problem of all, buyers rarely have the same tastes as sellers, What to do? I recommend moving your stuff, or at least some of it, out of the house and painting the rooms neutral colors so the buyer's imagination can start taking flight.

    5. You are inflexible. No offense, but maybe you aren't showing your house off enough? If you aren't using a real estate agent and work away from your home, your time might be limited, of course. But you should try to make your house as accessible and available as possible for a Realtor and a potential homebuyer to easily drop by and take a tour (which means having the place clean, too).

    Having your home be shown only by appointment or only at designated times will severely cut down on the number of showings you get, and if the house isn't getting shown, it isn't going to get sold.

    6. You aren't advertising your home properly. If you aren't a photographer or much of a writer, you may be giving your potential buyers an underwhelming idea of what it would be like to live where you live, you don't want your photos and prose to blow away homebuyers too much, if your house can't live up to what you're posting online or in brochures.

    A description that doesn't meet a homebuyer's expectation when visiting the property in person may also contribute to a failed site.

    7. Your house is poorly located or poorly planned. As you suspect, there's really not much you can do about either problem.

    It's just a reality that some homeowners have to deal with, you may be able to fix relatively easy is if the lot has a major drawback. Maybe the yard is extremely small, or there's an awkward hill that makes it challenging to mow a lawn. In that case, great landscaping could be helpful, says Mogal.

    If you are having trouble selling your home, and you don't think it's due to any of the aforementioned reasons, Golden recommends bringing in a neutral, objective third party to take a look at your house and make suggestions.

    There are things such as a bad odor in the home, a dog or cat smell, or mildew, or tidiness of the home that can affect how a potential buyer is going to view your property.

    Even little fixes, like keeping the blinds open to let in more light or adjusting the temperature so it's less cold or warm can make a buyer more optimistic that they could have a future where you live. If you don't or can't do that, you might as well pull up a chair and get comfortable. You aren't going anywhere.

  • Miami’s Condo Market Rebounds, Stoking a Building Boom

    Posted Under: Market Conditions in Miami, Home Buying in Miami, Investment Properties in Miami  |  June 17, 2013 7:18 PM  |  1,105 views  |  No comments
    MIAMI — Of the 22,000 condos created in downtown Miami during the boom years, only about 600 remain unsold — thanks mainly to an influx of Latin American investors seeking a safe haven for their money.


    The construction of Brickell CityCentre in Miami, which will have 800 condos.

    Developers are reacting to the unexpectedly swift condo recovery in a predictable way: they are building more condos.

    The most ambitious project by far is the $1.05 billion Brickell CityCentre, a 5.4-million-square-foot mixed-use development that will add about 800 condo units in two 43-story towers to the central business district, a hotel, a luxury movie theater, and a wellness center aimed at tourists from Latin America. With the Brickell CityCentre, the downtown neighborhood will have its first upscale shopping center and its first office building since 2007.

    The Miami construction boom — with its own local idiosyncrasies — comes after a broad revival in the real estate market.

    As demand rises and supply shrinks, cities around the country are experiencing a residential rebound.

    In February, national home prices jumped by 9.3 percent over the same month a year ago, the highest growth rate since May 2006, according to data released on Tuesday by the S&P/Case-Shiller index, which measures 20 major cities.

    Miami fared better than most, with home values rising by 10.4 percent. The local condo market, which is not counted in the Case-Shiller data, is equally robust. Prices of condos in downtown Miami increased to $440 a square foot in the last quarter, compared with $400 in the same quarter a year ago, according to Condo Vultures, a local brokerage.

    With foreign buyers scooping up properties, developers are trying to capitalize on the demand.

    In the last two years, 25 new condo projects have been announced in the downtown area, although it is far from certain they will all be completed. Within sight of Brickell CityCentre alone, eight residential buildings are under construction, including three being developed by the Related Group, an affiliate of the Related Companies of New York.

    “We seem to be on the cusp of another boom,” said Peter Zalewski, a principal at Condo Vultures. “The question is whether this will be a controlled boom or another out-of-control boom, which is what we’re known for.”

    The developers of Brickell CityCentre, Swire Properties, a division of the Hong Kong conglomerate with deep roots in Miami, are trying to balance the various market forces. While the residential market is looking healthier, demand for office space is still weak.

    Swire also sees a strong need for high-end shopping in the rapidly growing downtown neighborhood. The company’s partner in the 500,000-square-foot retail component at Brickell CityCentre is the Whitman family, the owners of Bal Harbour Shops, a hugely successful open-air shopping center just north of Miami Beach.

    On the office side, Swire is remaining cautious. The vacancy rate in the city’s financial district is well into the double digits at roughly 16.7 percent, according to CBRE, a real estate services firm.

    Swire hopes eventually to include an office tower with 750,000 square feet, but for now, the office component of the project will contain only 120,000 square feet. Diana L. Parker, a senior vice president at CBRE, said the new office space would be available just as a number of leases downtown were expiring. “Their timing is impeccable,” she said.

    The plans for Brickell CityCentre reflect Miami’s desire to bring its downtown in line with trends occurring in business districts across the country, where developers are being encouraged to provide convenience to public transportation, street-level retail and underground parking. Occupying four blocks, the Brickell CityCentre is next to the 8th Street station serving Metromover, a free transit line that circulates downtown.

    Stephen L. Owens, president of Swire, said his company had been looking at the location, known as West Brickell, since 2006 when two of the sites were listed for sale at $110 million. Two years later, Swire paid $41 million for those properties, which were vacant except for several dozen 100-year-old oak trees. (The trees were uprooted and transported by barge to Museum Park on the other side of the Miami River.) Subsequently, Swire added to its assemblage by buying the Brickell Tennis Center and 799 Brickell Plaza.

    That gave Swire 9.1 acres — slightly more than it needed to qualify as a special area under Miami’s new zoning code. This designation enabled the developer to work with the city to create a master plan that includes improvements to the streets and sidewalks.

    Officials are allowing Swire to build two bridges to make it easier for shoppers to travel from one building to another. These bridges will house shops and cafes, Mr. Owens said. “The biggest challenge was connectivity,” he said. Many urban planners, however, frown on such bridges because they draw foot traffic away from sidewalk.

    Swire also won approval to build something rare in Miami — an underground parking lot with 1,600 spaces for the project’s commercial components. Shoppers will of course have the option of taking the Metromover and getting off at the 8th Street station, which Swire is also renovating.

    Though Miami is not exactly known for its public transportation, ridership on both Metromover and Metrorail, an elevated train that connects suburbs north and south of Miami, has been steadily increasing — up 5.5 percent and 11.3 percent in February over the same period in the previous year.

    The increased usage, in part, comes after an influx of young residents to downtown. The recent condo boom was driven primarily by cash-paying Latin American investors who either use the apartments occasionally or rent them out, often to young professionals working nearby, said Mr. Zalewski of Condo Vultures.

    Swire’s focus on high-end shopping also happened to coincide with a new direction in the Whitmans’ business. Since Bal Harbour Shops opened in 1965, the family had luxury shopping almost exclusively to itself and fought strenuously to keep tenants from opening other stores in the area. The Whitmans say sales last year at Bal Harbour Shops — their lone shopping center — were $2,810 a square foot, compared to a national average of $526.

    But more recently, several longtime tenants, including Louis Vuitton, Cartier and Hermès, have decamped to the Design District across Biscayne Bay. Luxury shops are also opening at Aventura Mall, just north of Miami.

    With the competitive landscape changing, the Whitmans decided to expand by investing in Brickell CityCentre. “We see that area as a strong residential community with a thriving tourist market that is only getting stronger,” said Matthew Whitman Lazenby, the operating partner of Bal Harbour Shops and a grandson of the company’s founder, Stanley Whitman.

    The shopping center is being designed so that shoppers will feel the breezes off Biscayne Bay, just as they do at Bal Harbour. A glass trellis will “protect you from the outside elements but let you have a natural al fresco experience,” Mr. Owens said.

    “This will be our Rockefeller Center,” said Robert Kaplan, a principal with the Miami Beach office of Ackman-Ziff, a New York-based mortgage brokerage, referring to the Brickell CityCentre. “We don’t have anything like that here.”

  • The Myth of the US Housing Bubble

    Posted Under: Home Buying, Home Selling, Investment Properties  |  June 17, 2013 6:29 PM  |  926 views  |  No comments

    TV news pundits and bored property analysts are frantically debating the possibility that the U.S. is speeding toward another housing bubble, which will soon burst with catastrophic consequences for mankind.

    Almost every day a release arrives from a consultancy or public relations firm eager to discuss bubbles. Each screams of the potential danger: "Is a housing bubble forming?"

    The answer is, of course, almost universally, no. It's a ridiculous question and everyone knows it. But it makes for good time filler for CNBC, so we are subjected to endless quasi-serious bubble discussions.

    By simple definition, there is nothing bubble-worthy about the current market. The term suggests massive, irrational pressure is inflating the market and it will soon burst in spectacular fashion. The U.S. real estate market of 2008 vividly illustrated the whole bubble concept. The collapse of the Asia market in 1997, when prices fell 60 to 70 percent in Hong Kong--that was a bubble.

    No matter how you play with the numbers, the current market is a million metaphors removed from the concept of a bubble.

    To start, there is no massive pressure building to buy homes. In most of the markets that posted double digit increases in the last year--including jumps of more than 20 percent in Las Vegas, Phoenix and Miami--demand was driven by bargain-hunting investors buying quality properties priced at historic lows.

    That is evidence of a bottom in the market, not a bubble. When these bottom-feeders no longer believe homes are a steal, they will look for other sectors to exploit. But that won't destroy the market. It will simply be another stepping stone in the cycle toward normalcy.

    In most markets, the data shows demand is returning to healthy levels. But the much-discussed inventory shortage is driving up prices. "The extreme heat in today's market is a short-term phenomenon, born of a temporary imbalance between supply and demand," Kiplinger explained in its recent bubble analysis.

    The bubble concept suggests demand is so intense, prices are being forced to unhealthy and unsustainable levels--even though prices are still far below the levels people were willing to pay only a few years ago.

    Meanwhile, there are several very clear demand-easing landmines visible in the near future. Mortgage rates are rising, which means the days of free money are over. And while the economy is improving, there is no evidence that a switch will be thrown and balloons and confetti will fall from the sky any time soon.

    A bubble burst requires a blow out, something so dramatic it will burst this pressurized market.

    A total collapse of the economy would do it. But with the stock market at record highs, outside a few Ayn Rand enthusiasts few economists envision looming doom.

    And there is no indication of any bubble-bursting rush of supply heading toward the market. In some cities, as many as 40 percent of homeowners are still underwater in their current mortgages, ensuring they are in no rush to sell any time soon.

    Home builders are active again, but their new product won't hit the market simultaneously, except for Miami, where dozens of towers are in development. But Miami is not reality, as everyone knows. There are demand factors at work in Miami that have nothing to do with the rest of the world.

    The entire bubble concept suggests a major disaster is brewing, that these prices are so irrational, the market so crazed, that everything will soon fall apart and prices will plummet and real estate executives will jump out windows.

    Instead, every piece of data paints this as a market trying to find its equilibrium, a return to form of normalcy. The National Association of Realtors research department, which is often accused of putting a happy face on the numbers, forecasts prices will increase 8 percent this year and a modest 5 percent in 2014.

    That doesn't sound like much of a bubble. Yet, we are still subject to lengthy bubble dissertations and cries that the sky is falling.

    Maybe analysts feel guilty for not screaming about a potential bubble in 2007. It doesn't really matter, in the modern news cycle. There will be a buzz of analysis and witty banter on the talk shows. Everybody will shake their heads and issue papers with catchy bubble-related headlines. And then they will realize it's a silly conversation and they'll go back to talking about Kim Kardashian's baby. 

    TV news pundits and bored property analysts are frantically debating the possibility that the U.S. is speeding toward another housing bubble, which will soon burst with catastrophic consequences for mankind.

    Almost every day a release arrives from a consultancy or public relations firm eager to discuss bubbles. Each screams of the potential danger: "Is a housing bubble forming?"

    The answer is, of course, almost universally, no. It's a ridiculous question and everyone knows it. But it makes for good time filler for CNBC, so we are subjected to endless quasi-serious bubble discussions.

    By simple definition, there is nothing bubble-worthy about the current market. The term suggests massive, irrational pressure is inflating the market and it will soon burst in spectacular fashion. The U.S. real estate market of 2008 vividly illustrated the whole bubble concept. The collapse of the Asia market in 1997, when prices fell 60 to 70 percent in Hong Kong--that was a bubble.

    No matter how you play with the numbers, the current market is a million metaphors removed from the concept of a bubble.

    To start, there is no massive pressure building to buy homes. In most of the markets that posted double digit increases in the last year--including jumps of more than 20 percent in Las Vegas, Phoenix and Miami--demand was driven by bargain-hunting investors buying quality properties priced at historic lows.

    That is evidence of a bottom in the market, not a bubble. When these bottom-feeders no longer believe homes are a steal, they will look for other sectors to exploit. But that won't destroy the market. It will simply be another stepping stone in the cycle toward normalcy.

    In most markets, the data shows demand is returning to healthy levels. But the much-discussed inventory shortage is driving up prices. "The extreme heat in today's market is a short-term phenomenon, born of a temporary imbalance between supply and demand," Kiplinger explained in its recent bubble analysis.

    The bubble concept suggests demand is so intense, prices are being forced to unhealthy and unsustainable levels--even though prices are still far below the levels people were willing to pay only a few years ago.

    Meanwhile, there are several very clear demand-easing landmines visible in the near future. Mortgage rates are rising, which means the days of free money are over. And while the economy is improving, there is no evidence that a switch will be thrown and balloons and confetti will fall from the sky any time soon.

    A bubble burst requires a blow out, something so dramatic it will burst this pressurized market.

    A total collapse of the economy would do it. But with the stock market at record highs, outside a few Ayn Rand enthusiasts few economists envision looming doom.

    And there is no indication of any bubble-bursting rush of supply heading toward the market. In some cities, as many as 40 percent of homeowners are still underwater in their current mortgages, ensuring they are in no rush to sell any time soon.

    Home builders are active again, but their new product won't hit the market simultaneously, except for Miami, where dozens of towers are in development. But Miami is not reality, as everyone knows. There are demand factors at work in Miami that have nothing to do with the rest of the world.

    The entire bubble concept suggests a major disaster is brewing, that these prices are so irrational, the market so crazed, that everything will soon fall apart and prices will plummet and real estate executives will jump out windows.

    Instead, every piece of data paints this as a market trying to find its equilibrium, a return to form of normalcy. The National Association of Realtors research department, which is often accused of putting a happy face on the numbers, forecasts prices will increase 8 percent this year and a modest 5 percent in 2014.

    That doesn't sound like much of a bubble. Yet, we are still subject to lengthy bubble dissertations and cries that the sky is falling.

    Maybe analysts feel guilty for not screaming about a potential bubble in 2007. It doesn't really matter, in the modern news cycle. There will be a buzz of analysis and witty banter on the talk shows. Everybody will shake their heads and issue papers with catchy bubble-related headlines. And then they will realize it's a silly conversation and they'll go back to talking about Kim Kardashian's baby. 

     

  • Three Renovation Ideas for Your Home

    Posted Under: Home Selling in Miami, Curb Appeal in Miami, Design & Decor in Miami  |  June 17, 2013 6:17 PM  |  1,141 views  |  2 comments

    We all have things that we would want to do with our homes, but there is only so much time and your bank account is not limitless. If you’re looking to increase the value of your home and improve your standard of living, there are some things that you should consider doing and some things that would be too much trouble than their worth. Let’s take a look at three ways that you can add value to your home without spending your money recklessly.

    http://cdn1.agentright.com/AU/blog-and-articles/wp-content/uploads/2012/11/iStock_000016110020XSmall.jpg

    Add Square Metres to Your Home

    Real Estate 101: If you want to add value to your home, make it bigger. Now we’re not talking about a major construction project, like adding a floor, which could give your neighbors headaches for weeks upon weeks. We’re talking about smaller projects like adding a patio or a verandah. Verandahs are basically closed patios that are very popular in Australian architecture. Just look around your town and you’re bound to find many homes and buildings with them. Anytime you add space to your home, you’re making a good investment, so verandahs are an easy way to do so that will pay dividends down the road.

    Get a New Kitchen

    Kitchen redesigns will certainly improve your home, but there are ways to go about doing it. You should certainly modernize your appliances and install a dishwasher if you don’t have one. Another thing that would be advantageous to do would be changing your kitchen’s scheme. Kitchens are increasingly becoming the room to socialize. Dining rooms are a thing of the past as homebuyers look to condense the size of their homes. Opening up your kitchen and removing the clutter of unnecessary fixtures is a great way to facilitate this. An updated kitchen will give your home a fresh look and will certainly impress potential buyers if you happen to sell.

    Update Your Bathroom but Don’t Overdo It

    You may be tempted to do a complete overhaul of your bathroom, but there are certain things you should avoid. For example, you don’t want to make extensive changes to the plumbing or remove the bathtub and replace it with a sleeker shower. Rather, a new tile job or adding a double vanity can change the look of your bathroom and help you stay on budget.

    Adding verandahs, opening up your kitchen and installing new tile for your bathroom are three ways to add value to your home and are smart investments in your home’s future.

    We all have things that we would want to do with our homes, but there is only so much time and your bank account is not limitless. If you’re looking to increase the value of your home and improve your standard of living, there are some things that you should consider doing and some things that would be too much trouble than their worth. Let’s take a look at three ways that you can add value to your home without spending your money recklessly.

    Add Square Metres to Your Home

    Real Estate 101: If you want to add value to your home, make it bigger. Now we’re not talking about a major construction project, like adding a floor, which could give your neighbors headaches for weeks upon weeks. We’re talking about smaller projects like adding a patio or a verandah. Verandahs are basically closed patios that are very popular in Australian architecture. Just look around your town and you’re bound to find many homes and buildings with them. Anytime you add space to your home, you’re making a good investment, so verandahs are an easy way to do so that will pay dividends down the road.

    Get a New Kitchen

    Kitchen redesigns will certainly improve your home, but there are ways to go about doing it. You should certainly modernize your appliances and install a dishwasher if you don’t have one. Another thing that would be advantageous to do would be changing your kitchen’s scheme. Kitchens are increasingly becoming the room to socialize. Dining rooms are a thing of the past as homebuyers look to condense the size of their homes. Opening up your kitchen and removing the clutter of unnecessary fixtures is a great way to facilitate this. An updated kitchen will give your home a fresh look and will certainly impress potential buyers if you happen to sell.

    Update Your Bathroom but Don’t Overdo It

    You may be tempted to do a complete overhaul of your bathroom, but there are certain things you should avoid. For example, you don’t want to make extensive changes to the plumbing or remove the bathtub and replace it with a sleeker shower. Rather, a new tile job or adding a double vanity can change the look of your bathroom and help you stay on budget.

    Adding verandahs, opening up your kitchen and installing new tile for your bathroom are three ways to add value to your home and are smart investments in your home’s future.

    - See more at: http://www.agentright.com/AU/blog-and-articles/three-renovation-ideas-for-your-home/#sthash.aEAA686Q.dpuf
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