We are thinking of upgrading our home in Round Rock, TX (78664) with a plan to put it on the market in summer

Asked by Bekah, Round Rock, TX Tue Mar 25, 2008

09. Where will we get the most bang for our buck?

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14
Paul B. Perez, , Austin, TX
Thu Mar 27, 2008
Sounds like a typical first home. Stick with the basics: New outlet covers that match throughout the house along with new outlets themselves. Don't forget to have all of the door handles. hinges, & locks changed to match throughout the house. If you paint a wall or put in new floor, be sure to remove the floor boards and repaint them for a clean finish.
1 vote
Paul B. Perez, , Austin, TX
Wed Mar 26, 2008
You stated "bathroom"? What is the make-up of your home? 3 bedroom? Garage? Half Bath perhaps? Sounds like you are on the right track.
1 vote
Paul B. Perez, , Austin, TX
Wed Mar 26, 2008
Lani, you put it rather lightly. I would say what your asking is like having the blind lead the blind in Sam's Club! I do admire your forethought when selling your home and the preparations you are making for that. I could see recommending to wait 60 days prior as Lynn suggests; but beware: contractors are contractors! I tell my sellers to go ahead and start now! Why not enjoy your home and its upgrades while you are still living there? Just keep your house clean and you will still see your return. It's not as if updated in 2008 vs. updated in 2009 has a measurable advertising advantage? The best way for you to know is to do your homework. Start interviewing REALTORS and tell them your plans. The one you pick will be happy to set you up with a market preview (4-5 Good deals in Round Rock) so that you can see for yourself what is going on this summer! In the mean time, go to some open houses in your area this weekend and find out what is out there. Don't overlook the homes in your neighborhood though! Have you ever thought of just renting out your current property and buying another? If you get it rented you could potentially claim 75% of the rents as income when applying for a new loan? You may also qualify as a first time home buyer if its been over 3 years since your last purchase...
1 vote
Keith Sorem, Agent, Glendale, CA
Tue Mar 25, 2008
Bekah
Be very careful with responses you are receiving. Your home, your local market, and your local market conditions play a large role in any return on investment. I STRONGLY encourage you to talk personally with a Realtor.

Here is some great information from the National Association of Realtors 2007 cost vs. value survey.
1 vote
Suzanne Gant…, , 78664
Wed Mar 2, 2011
Morning Bekah,

I live in Round Rock (78664) and would be glad to do a market analysis for you. It is important to know what is going on in your neighborhood sales wise and upgrading wise. It helps also to know what your competition has done so that you don't put too much money in to something that will have little return when you sale. I help all my seller's in staging their homes, so if you are interested don't hesitate to contact me.
Web Reference:  http://www.suziesells.com
0 votes
Donna Ciccar…, , Austin, TX
Thu Apr 2, 2009
Bekah,

I believe you asked another question with regard to how to go about finding out the days on market for houses in your neighborhood along with other statistics in order to make a move to another school district, correct?

Bekah, you really need an agent with a PROVEN STRATEGIC PLAN for getting your home sold! It sounds like you are on track with a plan, but I suggest having someone review what your goals are so you know where to best put your time, money, and energies.... The plan I use can help you get up to 5-15% more money for your property than a traditional agent. It is a market research-driven marketing plan with a budget and methods that will most effectively maximize the number of qualified buyers for your home. I use an entire team of service providers to help implement the marketing plan we customize for your home so that no matter what the market conditions are we have solutions to attract these buyers. I would love to go over this system so we can work together as a team to achieve your goals.

Give me a call! I'll be glad to share in detail what my team can do.

Donna Ciccarelli
Goldwasser Real Estate
512-736-3124 mobile
http://www.donnaciccarelli.com
http://www.GoldwasserRealEstate.com
0 votes
Debbie Thomas, Agent, Austin, TX
Thu Mar 27, 2008
Sounds like you are doing all the right things. I would be happy to come by and give you some tips on staging etc...
0 votes
Bekah, Home Seller, Round Rock, TX
Thu Mar 27, 2008
The house has 3 bedrooms, 2 baths and a 2 car garage (which we use for only parking cars, no storage).
0 votes
Bekah, Home Seller, Round Rock, TX
Wed Mar 26, 2008
Wow! So much information! Thank you all. Our house was built in the 80's and we want to redo the old carpet with hard tile and pergo, repaint the inside (we completed painting the outside this past summer) and put in a deck. My husband is also resurfacing the ceilings to remove the "popcorn" texture for a smoother texture. We are hoping to move to a better school district for our two small children; hence our motivation to move. We are tossing around the idea of painting the cabinets in the bathrooms and kitchen. We have just about finished stripping all the wallpaper and are going back with very neutral paint. About 50% of the bathroom and light fixtures have been updated and we are installing ceiling fans in both kids rooms. We have no delusions of grandure and do not realistically see listing the house for more than 120. Our curb appeal is great (we planted trees when we moved in and my husband keeps a very nice lawn). Does this help at all?
Thank you again.
Bekah
0 votes
David - Appr…, , Maricopa, AZ
Wed Mar 26, 2008
Bekah - Upgrading you home can increase the value of the property but the increase does not equal the cost dollar for dollar. Certain areas do have a higher recoup percentage than others. Here is a link that provides some reasonable percentages of cost vs value in different regions of the country.
http://www.costvsvalue.com/index.html
0 votes
Lani Anglin-…, , Austin, TX
Wed Mar 26, 2008
Hey Bekah, I think we're all excited to answer your question but need more pointed questions so we can help. Are you asking how to get the most money when you sell your home?

If so, your Realtor should be able to answer this *in person* after seeing your home, there is no way anyone can answer this online (especially from another state or city- I KNOW Paul Perez will be here any minute to agree with me). Your Realtor will be intimately familiar with your neighborhood and the success of other listings so they will know how to prepare your home. Be sure your Realtor is savvy with marketing because an aggressive online and offline marketing plan AND proper pricing are the BEST way to get the most bang for your buck in resale. :)

You're in the right place for Realtor hunting!
0 votes
Khazeem Asad…, , Dallas, TX
Wed Mar 26, 2008
Bakah, I interpret your question to be one of where you could get the most home for your money and not necessarily how to get the most for your existing home...??? Am I correct? My answer will be based on that interpretation and I would say that It's not so much as "WHERE" you buy, but 'HOW" you buy that will make all the difference. I have said many times here, and I will continue to express the view that I don't believe you can buy a pre-existing home for what I would consider to be a fair price.

On guy cautioned you as to the responses you may get yet he used the words "return on investment" in his response in regards to your home. There is no true "return on investment" on a owner-occupied, mortgaged home. Thats word trickery that the IRS has used to justify taxing people for selling their homes, because otherwise, legally, such a sale is not classified as "income". But if you call the property an "investment" you place it in another category, one that we really don't want it in to begin with. I'm sure, however, that the guy did not know that because most people don't.

A domicile is not an investment of any type, even if its market value has increased over the years and you sell it for more than you borrowed. If you have a loan amount of $180k, a 30 year fixed rate mortgage at 6.250%, and you live in that home only 5 years, you would have to sell that home for the $180k + $56k (interest paid) just to break even. Thats $236 needed to walk away even, and that's not likely to happen.

Check out Owner/Builder Programs, but don't let them talk you into taking out an LTV loan. You will get the most "bang for [your] buck" this way. And if you can't find an Owner/Builder Program that does not require you to take out the LTV loan in order to be approved for the home, contact me, I'll help you get that home.

I hope this was helpful to you.

Khazeem Asadullah

email: info@serapisdebtservices.com
0 votes
Debbie Thomas, Agent, Austin, TX
Tue Mar 25, 2008
Fresh paint, carpet and hard tile in wet areas will give you a good return on your money. Be sure to keep things neutral. Don't forget curb appeal. A lush lawn and colorful garden always help.
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Mar 25, 2008
You need to work with an extremely busy buyers agent that is on property all the time working with buyers. Have this agent tell you what is fashion forward in your area, also go look at new builds that will provide you some idea on how to upgrade.
You need to confirm you don't put more into your property than what it is worth many home buyer normal mistakesI recommend to my sellers not to upgrade till prior to moving out then everything looks fresh and new, start cleaning out closets, attic, garage, work on curb appeal, 60 days prior to the market, paint, new carpert and etc. based on what the agent suggests.
Web Reference:  http://www.lynn911.com
0 votes
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