From REI Academy
Curb appeal is one of the most important aspects of any
real estate transaction. For me, it is the curb appeal that
defines everything about my deal. How much will I offer? How
much will it take to rehab the property? How does it compare
to the surrounding living conditions?
Simply stated,
If the curb appeal is not very good, I know that I can
buy the property for a discounted price.
And that's what my business is all about. Buying
distressed homes and then raising the curb appeal through
repairs to the property that not only raise curb appeal, but
also the value too. Here are several ways that I use to
bring up the value of houses to maximize my profit at
resale.
Your first step--repainting
The most important thing that I can do to improve curb
appeal is to repaint the structure. A fresh new coat of
paint adds value right from the start. Remember, first
impressions count. This will actually get you a higher
appraisal than a house without a new paint job.
You want to do the outside of an investment property
first--particularly the front. Getting the most noticeable
portion in its best shape first will attract buyers
immediately. You can't get a buyer to see the interior if
they are not first pleased with the exterior.
Add a crisp, clean appearance
If the house is just dirty, and the paint is in good
shape, then a pressure washer can be used to clean up the
exterior siding, gutters, downspouts, deck, fences, and
driveway. I even clean my roofs with one. Use the washer to
remove any mold and mildew that can be seen on or near the
house.
Pull your car in front of your property and take a hard
look at what you see. This is going to be what your
potential buyer sees, too. If you see something that sticks
out to you, fix it. Make sure there are no leaves piled up
on the grass.
Once you have disposed of any debris in the yard, make
sure the lawn is mowed nicely. A fresh cut yard is a good
sign that the rest of the home has been tended to correctly.
Get rid of weeds and tools that are cluttering up any areas
that can be seen from the street.
Don't overlook windows or gutters that need to be
cleaned. These are simple tasks that do not cost any money
to perform, while adding a crisp clean appearance to the
home.
You may also want to remove any limbs touching the house
or roof. This could scratch paint or cause roof leaks down
the road. Another no-cost fix is to use a lawn edger around
walkways, driveways and planter areas.
If your house may be looked at near dusk or dark, you
want to make sure there is good light available. Add a
decorative yard lamp to help the appearance and also add
security at the same time.
Some people really like to line the driveway and walkway
with little footlights. This adds great character to the
house as well as a beautiful soft light shimmering as it
leads people to your door.
An inexpensive way to add light would be to add a fixture
at your front door either overhead or a wall mounted light.
You can afford these on any budget, and the choice of styles
is huge.
Landscaping--keep it simple and cheap
Let me mention a few things. Landscape is where some
people can make expensive mistakes. Since bushes, trees, and
decorative plants can cost thousands in landscape design,
you do not want to go overboard--not even on your own home.
Keep it simple, and you can keep it cheap too.
Around your mailbox post is a good place for some
colorful flowers. You may also have some flower beds near
your front entrance. This really looks great and can be done
on a budget. Trim all the bushes to the same size and shape
if they are in a group. This will make them look uniform as
well as fancy.
If I spend the money to plant any decorative trees, I get
ones that will look decent all year round. Most of the trees
I add are fruit-bearing trees or something that will bloom
brilliantly during the year.
On a house this week, we trimmed back bushes that had
grown too high and made a very nice design around them using
decorative pine straw and wood chips. These items run about
$3 a bale for the straw and about $5 a bag for decorative
chips. It really dressed up the front of the house, and I am
sure will help me sell faster.
Add a few special touches
Just don't blow your budget that could cost big dollars
when for a few hundred, you can dress a yard up nicely. It's
better to do a lot of little, inexpensive things than it is
to do one big, expensive thing. Dress up the front door with
a nice color of paint that will go well with the house but
still add flair. It's just like dressing up an old suit with
a new tie!
Go a little further and add a fancy decorative doorknob
and knocker set. Maybe even a brass kick plate. These items
don't cost much but can add drama to the house.
Here is something I saw that was great as I was talking
to my neighbor. She had been working on something in her
yard for a couple of days, so I wandered over to check it
out. She had added a fountain in the front of her home, and
it was really pretty.
She and her husband bought a kit for the project for
about $300. It had some nice stone structures and rocks that
the water went through and they had dug out an area the
plastic liner was placed into. As the water trickled down
the decorative stonework, the liner fit nicely into the
ground and had some varieties of fish swimming in it.
I thought this was a great addition--adding curb appeal
and value--and a nice calming effect when sitting on the
front porch in a rocker looking over the fountain.
The charm of the front porch decorated with flowers, wind
chimes, and candles gave me the idea that I could dress up
my houses with this same decor to show buyers feel that they
could enjoy the same charm if they bought my house.
Last, but not least
If you have homes that have a lot of children living in
the area, as well as possible pet owners, you may want to
make sure that if the house has a secure fence.
On the house I have for sale now, we had to repair some
areas of the fence. It's a six-foot tall wooden fence, and
we replaced some of the boards that had been knocked down or
broken. This adds security to people with kids and pets. It
would have been a deal killer for buyers to see the fence
run down and tacky.
We just put in a few new boards, sprayed it with bleach
to clean it up and then put a good water sealer on it to
make it last. We did the same thing to the deck in the back
to clean and preserve it. For a little over $100, we made
two areas that may have driven a buyer away look new and
inviting again.
A few bullet points to remember...
. Pressure washing is a cheap way to clean up the entire
exterior of any property.
. A fresh coat of paint raises the value and appeal.
. Do no-cost things like cleaning windows, mowing lawns,
raking leaves, weeding, and trimming hedges, bushes, and
branches from the house.
. Light up your home with outside lights and fancy lamps
and such.
. Get landscaping ideas that cost a small amount yet make
a huge impact
. Ponds and fountains make a dramatic statement.
. Repair fences and decks and use sealers to maintain a
good look.
. Make the place feel like home with front porch swings
and rockers.
. Decorate with flowers and candles and plant fruit
bearing trees.
There are hundreds of ways to add curb appeal--use your
imagination! Keep in mind that if people don't like the
outside of the house, they will probably never see the
inside. You may not realize it, but bad curb appeal could be
the main reason a house sits on the market for months.
Rehab 101 Complete Package Increase the value of your
rehab properties for maximum profit! Pete Youngs teaches his
students how to save money on unnecessary inspections and
contractors and put thousands of dollars into their pockets.
Read more...
About the author...
Pete Youngs is a successful investor, business owner,
author, and lecturer dedicated to helping others become
successful real estate entrepreneurs. His expertise is
teaching people how to rehabilitate properties for a
fraction of the normal cost.
His knowledge and ability to get the highest quality
results for the lowest possible price earned his companies
prestigious renovation contracts, such as the living
quarters at the 1996 Atlanta Summer Games, Courtyard By
Marriott Hotels, and hundreds of single and multi-family
homes nationwide.
Pete shares his contractor knowledge with investors and
homeowners alike, teaching them how to put THOUSANDS OF
DOLLARS into their own pockets, instead of spending it on
unnecessary inspections and contractors.
