Beware the Home Office Remodel!

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remodel; return on investment; home office; renovations; remodeling projects; investment

Many home remodeling projects do wonders for the value of the home. Certain upgrades and renovations pay dividends when it comes time to sell, and you often can recoup the money you’ve invested in the upgrade.

There are exceptions, however. And one stands head and shoulders above the rest (or should I say below) when it comes to return on investment:

The home office.

Surprised? It may seem like a home office would be a boon for your home at sale time, especially considering the number of people who telecommute and work online. But the fact of the matter is, a home office seldom recoups more than 45% of the money invested in the remodel.

Why? Multiple factors.

First, even people who work at home often don’t work at home. When was the last time you walked into a coffee shop and didn’t see a laptop open? Many people still find space outside the home to work.

Second, a full-on home office renovation often takes up a bedroom which new owners might want to be able to convert back into a bedroom. If you’ve spent the time and money having built-in furniture added, media wiring, and other “office like” details installed, it represents a cost to restore or lost-usage for the new owners.

Of course, if you need a home office and want to have the home office of your dreams, it might be worth it to you to put the return on investment aside. But don’t undertake the project thinking it will pay off down the line.

Curious which home remodeling projects pay off at the sale? Let’s talk about what you’re considering: Kevin and Jennifer Hanley, REALTORS http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com 904-422-7626

BEWARE Property Tax Scams

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property appraisal, tax scam, taxes, unsolicited letter

A little advice on protecting yourself from property tax scams:

If you own a home, you’ve probably received at least one unsolicited letter in the past year offering to lower your property taxes. Usually, the letter will look very official, and may even list your official city or county tax assessor.

Granted, the offer can be tempting. The basic pitch is this: “For a nominal fee, we’ll save you hundreds or thousands on your tax bill by having your home appraised at a lower value.” You do “nothing” but pay an administrative fee.

Don’t fall for it! If you want to try and have your property taxes reduced, you can usually file an appeal with your tax assessor. The process is often only the minor inconvenience of filling out a form to request an adjustment. (Clearly, there’s no guarantee this will lower your tax bill, however.)

Here are red flags to look out for on these “lower your tax bill” letters:

1. They often ask for your social security number
2. They may request a certified copy of your property deed
3. Offers require an upfront fee for the re-assessment work
4. Letters will look like government letters, but may contain reverse side small print

Remember: Your assessor will likely provide an assessment appeal for no charge. These companies are looking for a quick score and may even expose you to identity theft down the road.

We look out for our clients, friends, and family. If you need trusted partners for real estate advice, please get in touch:

Kevin and Jennifer Hanley, REALTORS 904 422 7626 http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com

Stay Cool & Save Money

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Air Conditioning, Heat Wave, Power Bill, Save Money, Stay Cool

Heat waves can take a major bite out of your monthly budget. If you’re looking for ways to take some of the teeth out of your power bill, here are some ways to stay cool and save money this summer:

Thermostat Ping Pong: Set reminders to up your thermostat when you’re not going to be home or when you’re sleeping. Bumping up the temperature a few degrees can add up significantly over the course of a month.

Get Out of Dodge: Do you work from home? Take that laptop on the road. Turn up the temperature at home and find cool libraries, cafes, or other public spaces.

Shade the A/C: Providing shade for your A/C unit can drive up the unit’s efficiency by 10%. While trees and shrubs can shade your house and absorb heat, the same is true for the equipment keeping you cool!

Screen that Sun: Install solar screens on your windows to block around 70 percent of the solar energy streaming into your house.

Invoke the “No Stove” Rule: Hot summer months are the perfect time to turn to salads and cooler foods. Keep the stove off and use the microwave for heating. No baking, no frying, no broiling! The excess heat will drive up the temps inside.

Maintain the A/C: When was the last time you changed the filter? Is the unit draining correctly? Drive the efficiency to lower expenses.

Slow Down Your A/C Fan: When it’s humid, slow down the speed of the A/C’s fan. This will allow the A/C to remove more of the moisture from the air before speeding it along.

Of course, a great way to lower expenses is to downsize if you don’t need the space. If you’re looking for a new place, we I’d be glad to help you with the search (and the sale of your current home!):

Kevin and Jennifer Hanley, REALTORS – http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com – 904-422-7626

Walk-Thru Wisdom

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final walk-through

Too many people fail to appreciate the importance of a final walk-through.

As a buyer, your last moment of leverage is signing on the (many!) lines during closing. Just before that day, though, you should do a final walk-through of the home you’re buying. While you might think a quick glance through the rooms is enough, you’d be well advised to take your time.

In fact, a good walk-through should take at least 30 minutes, depending on the size of the home. You might even want to consider hiring a home inspector to revisit the place to make sure any repairs essential to the deal were taken care of properly.

Don’t perform the walk-through too early, either. No more than two days at most. If you complete the walk-through too soon, there’s always a chance severe weather or other adverse events could damage the home. (Recent weather events are also a good reason to check for leaks or water in unexpected places.)

Be sure to check appliances, light switches, heating and air conditioning systems, garage doors, and any other major systems (pool pumps and heaters) along the way, too.

Should you come across anything that raises alarms, be sure to look for a way to settle the issue in a friendly, non-confrontational manner. While you don’t want to jeopardize the closing, you may be well within your rights to seek some sort of concession from the seller.

Even with short sales and foreclosed properties, you’ll want to do a walk-through to make sure all appliances and fixtures promised are still in place before the closing. (A home might be “as is,” but it’s definitely “as is” under the terms of the contract! Don’t get shorted.)

On the whole, the walk-through is an exciting time… after all, it’s almost yours! But don’t let excitement cloud your good sense. Use a little of this walk-through wisdom to protect your investment!

I’m always on the lookout for my clients. If you need representation for buying or selling a home, please get in touch today: Kevin and Jennifer Hanley, http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com 904-422-7626

The Move-IN Garage Sale!

Tags

moving; garage sale; meet the neighbors; packing; de-clutter

It’s common sense to have a garage sale before your big move. There’s no reason to pay movers to load boxes of items you can do without. Plus, who needs the clutter in their new home?

But have you ever considered a garage sale after you’ve moved into your new house?

It’s actually a great idea for a number of reasons:

Why did I save this stuff? When you unpack items in you new home, you’re likely to come across a lot of stuff you find you can live without. What seemed essential in the old place just loses its luster in your new space.

But I thought this love seat would fit in here! Despite our best plans, old furniture can turn out to be a poor fit in new spaces. You don’t necessarily have to live with the mistake. Prep it for sale.

Who are these people, anyway? A garage sale will bring out the neighbors. Despite the bargain seeking and good-natured haggling, garage sales are great low-pressure social situations. People are free to browse without the pressure of making conversation. Small talk arises more naturally. People can come and go without obligation.

Who just bought this place, anyway? It’s an opportunity to be a good neighbor. Put out some snacks and drinks. Be easy about your prices and even throw in a few things for free if someone’s buying. Use the event as an ice breaker rather than a profit maker. A lot of first impressions can be made here… why not make good ones?

If you’ve still got stuff to bring to the curb, put the post-move garage sale on your to-do list for the move.

Did you know de-cluttering is also one of the key steps to prepare a home for sale? We have lots of tips if you’re considering listing soon. Please get in touch! Kevin and Jennifer Hanley – 904-422-7626 – http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com