There are so many things to think about when deciding to buy a home in Long Branch, New Jersey. How many bedrooms and baths do you need? Do you want stairs or are you hoping to have everything on one level? Of course there’s the all-important question of flooring, countertops and light fixtures. Hi I’m Michele Irizarry, CEO and Broker of Shore Prime Properties. For the past 20 years we have met with home buyers and helped them to define the criteria of their home search. If you were looking for some insight regarding the home buying and selling process, please be sure to like and follow Shore Prime Properties on Facebook, LinkedIn and YouTube. We post weekly content and cover a wide variety of topics. What else should you be thinking about when it comes to what you want in your new home and how can you build a smarter wish list that really adds value?
What does your wish list look like?
When you start searching listings online you’re probably spending most of your time looking at aesthetics-paint color, finishes, fixtures and other shiny objects. In addition, you’re probably thinking about convenience: a second home office, a fenced backyard and space for a playroom. It’s natural to think about these personal preferences when choosing a home. But a smarter wishlist takes into account those behind the wall items that can either add value or cost you big money. In addition, you’ll want to consider your favorite wishlist items. Will they be worth the cost when you decide to sell the home in years ahead? Think beyond paint color and home style. This will help you to create a value-added wishlist. Include the following elements in your calculations of the “perfect home”.
Great Neighborhood
There’s a reason that the mantra for real estate professionals is “Location, location, location.” The same home in two different neighborhoods can fetch two wildly different prices. It’s important to make sure that you understand the impact of a neighborhood on your enjoyment of the home. One piece of advice that you may have heard of is “buy the smallest home in the best neighborhood that you can afford.” While you may be yearning for a fourth bedroom or a huge bonus room it may be worth it to choose a smaller home in the neighborhood that is more ideal. In addition, you may want to consider an up-and-coming market rather than one that’s already filled with amenities. Owning a home in a newly desired neighborhood may mean big appreciation over the next few years.
Market Appropriate Extras
Do you have any unusual features on your wish list? Maybe you’re longing for a pool or extensive exterior spaces like an outdoor kitchen or oversized deck. Maybe you’re thinking of adding a large addition or a guest house. Once you close on your ideal property those are all great ideas but will they fit the market that you’ll be living in? It’s important to make sure that any improvements that you plan or unusual features that you require are in keeping with the other homes in your neighborhood. Otherwise you could find yourself trying to sell a home that is so unusual, outsized or downright odd that you’ll turn off potential buyers and lose money on the sale.
Maintenance Savers
We know everybody’s focused on granite countertops and hardwood floors but it’s a good idea to think about all those other less flashy elements that add value to your home. A new roof can cost you thousands of dollars so if you have to choose between the ugly kitchen counters with a new roof or the gorgeous granite with an old one, take the new roof. In addition, look for easy care outdoor hardscapes and exterior materials to save on maintenance costs especially in Long Branch, New Jersey where we experience a lot of rain or snow. By focusing on elements that are heartier and easier to maintain you’ll save time and money year after year. More than enough money, in fact, to pay for some of those fancy wish list items.
Updated Systems
New appliances, HVAC, electrical and plumbing systems save you money on maintenance, replacement and the cost to operate. Just make sure that the homeowners have all of the paperwork so that you know when the systems were installed and that they are the right size and quality for the space. If in doubt talk to your home inspector for additional information and insights. What improvements can you make yourself? What items are worth overlooking in order to add your own value to the home? Here are some wishlist items that you can cross off in favor of making your own easy fixes after closing.
Perfect Landscaping
What is one of the lowest cost, highest return investments you can make in improving your home’s value? According to the National Association of Realtors, tree care offers a hundred percent return on investment and adding mature trees is a low-cost way to boost your home’s value. In fact, a great lawn and an upgraded exterior door are among the most cost-effective highest ROI improvements that you can make.
Paint Color
You’ve seen those HGTV home buyers complain about the paint color and rolled your eyes, right? If you find a house that has great bones but a terrible paint job get excited. You can quickly improve the home’s aesthetics and value with new paint and the best part- you can pick out the colors yourself so that it’s exactly what you want.
Finishes and Fixtures
Outdated light fixtures, mismatched switch plates and old-fashioned faucets- they’re a definite turn off. However if the home has been well maintained otherwise, these easy to swap features give you the opportunity to add big value at a low cost. Take a weekend and switch up everything or make the changes a little at a time. Whichever works for your budget and timeline, you’ll experience a sense of accomplishment and a hefty return on investment.
Your wish list is just that- yours. It’s up to you to decide what matters most to you and your family. But if you’re looking to make budget-friendly decisions it’s important to look past the bright and shiny to the solid and secure. If you would like to get your home buying journey started, give us a call here at Shore Prime Properties today. I’m Michele Irizarry selling prime real estate at the Jersey Shore.
