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6 Easy DIY Projects That Will Boost Your Home’s Value

Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:

Your house is likely to be the biggest investment you make in your entire life. Whether you’re planning to sell it or you’re there for the long haul, it is important to take care of your investment. As any real estate agent will tell you, the first thing people notice about your home is the exterior. You need strong curb appeal to make a good first impression.

With that in mind, here are six simple DIY projects to help boost your home’s value:

Invest in Your Landscaping
Landscaping is often regarded as one of the top three ways to add value to your home in terms of return on investment. HomeGain.com conducted a survey of 2,000 brokers in 2007. The results indicated you could possibly quadruple an investment of $400-$500 on well-planned landscaping.

That said, just throwing a couple hundred dollars at plants is not a good approach. Instead, focus on creating a healthy, vibrant lawn. Fill in dead or sparse areas, fertilize, and clean up edges along your sidewalk, pathways and gardens. Trim overgrown bushes and shrubberies and cut down tangled tree branches. Plant flowers and plants to brighten up your landscape—just be sure to plant perennials that will come back year after year, not annuals that will die within a year and never return. Also, look for plants that are native to your region or are drought-tolerant. They need less water and maintenance, saving you money in the long run.

Upgrade Your Front Door
Your front door is the entryway to your home and it sets the tone for the rest of the house. Make a good impression by ensuring your home’s entry point (including the area directly surrounding the door) is attractive and eye-catching.

The first thing to consider here is whether to replace your existing door or not. If the door you have is good quality and a style you like, you can save some money by just freshening it up a bit. Refinish the wood or paint it for a pop of color; clean and polish the hardware or replace it with something that will add more of an accent; and replace the hinges if they are worn. If you decide to replace the door, look for a well-insulated, energy-efficient, secure door; this is not something you want to cut corners on by going with a cheap alternative.

Illuminate With Outdoor Lighting
Outdoor/exterior lighting adds value to your home in three important ways. First, it helps keep you and your family safe. It’s important to be able to see where you are going to avoid a fall. Second, it adds a layer of security. Keeping your property well-lit is a good way to deter a would-be thief from targeting your home. Third, it enhances the aesthetics of your property. Show off your beautiful home and well-maintained landscape.

Consider which of these aspects are important to you. If safety is your goal, focus on pathways, entryways and steps. If you are more concerned with security, perimeter lighting set on timers and motion-activated flood lights are your best bet. If you want to add curb appeal, light up your trees, unique landscape elements, and water features.

The second thing to consider is what type of lighting to go with. Solar is great because you don’t need wiring and don’t have to pay for power. LED lights produce a bright, crisp light and are energy-efficient. Halogen lighting, though affordable, is being phased out for the most part. Consider replacing existing halogen bulbs with LED replacements (also called LED retrofitting).

Discover the Magic of Pressure Washing
You see your home every day, so you might not notice as it slowly gets dirty and the colors and features become dusty and dim. Just spending an afternoon with the power washer can dramatically add some pop and resuscitate your curb appeal.

First and foremost, read the instructions and specifications of the pressure washer you purchased or rented. Check the water flow in gallons per minute in addition to the PSI, and get one with different pressure settings if possible. Confirm it is okay to use on all the areas you are planning to wash to ensure nothing will be damaged. You’ll probably be okay on things like sidewalks and driveways, but double check that your siding and windows can withstand the pressure. Turn off power to electrical outlets and fixtures and cover them. You may also want to cover plants and flowers if they are close to your house or the area you’ll be cleaning. You’ll likely want to use detergent (only use detergent that is specifically made for pressure washers) for the grimier parts of the job.

Create a Beautiful, Functional Space With a Fire Pit
Adding a fire pit is a cheap, simple way to help get the most out of your outdoor space by breaking it up into different areas. Fire pits consistently poll well among potential homebuyers (especially younger ones), and came in first in expected popularity of design elements, according to the Residential Landscape Architecture Trends Survey. One of the great things about taking on this project is that it can be as simple or as grand as you like. You could DIY a very basic one for as little as $150, or you could go all out and include a gas line (with professional help) and a fancy fixture if you have a bigger budget at your disposal. If you are not as handy, you can get a kit with everything you need and step-by-step instructions. However, building your own fire pit is not overly complicated and will allow you to completely customize it to fit your personal taste.

Upgrade Your Home’s Technology
These days, homebuyers want the latest technology. It’s easy to understand why when you look at all the amazing things technology can do for your household. Having these advanced features can be what sets your home apart from similar ones on the market.

You can install smart locks for added safety and convenience. You’ll never have to stumble around trying to get your keys out of your pocket while carrying groceries again, thanks to Bluetooth technology that will pick up on your phone approaching—and you’ll never stress again wondering if you forgot to lock the door when you rushed out. Smart sprinklers can save time and money. The sprinkler system can adjust based on weather patterns and temperature so you’ll save money by not wasting water.

These are all projects that offer a good return on your investment and can be done without a professional, saving you around 40-60 percent of what you might be charged. Plus, these projects can be wrapped up within a couple days, meaning you could conquer them over the course of a weekend or two. Get out there and start building some sweat equity the smart way!

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A Sneak Peek at CRD Podcast’s First 3 Episodes

The following information is provided by the Center for REALTOR® Development (CRD).

A few weeks ago, we provided you some general launch information about the new podcast that Center for REALTOR® Development launched in May. Now, we want to share with you some more specifics about its three initial episodes so you can get a taste of the kinds of topics the podcast will cover and the types of interviewees our host, Monica Neubauer, will be interviewing.

We’re hoping you’ll give at least one of these episodes a listen now, and possibly subscribe so that you get notified when all the future episodes release, too. For all the details about the podcast and how to subscribe, check out its website at CRDpodcast.com.

The first episode, Pricing Strategies in the Market, focuses on pricing strategies, and its guests provide some different perspectives on pricing strategies in today’s real estate market for buyers and sellers. Melanie McLane (second-generation REALTOR® and renowned instructor and consultant) and Rob Mehta (principal of Rob Mehta+Partners and 19-year industry veteran) both share their expertise about basic and advanced areas to consider when pricing homes. In addition, they talk about how to best work with appraisers and AVMs, and how to use RPR tools.

In episode two, Military Real Estate Tips, the first guest, Bryan Bergjans, joins us to talk about VA loans. He began his career in mortgage banking in 2002, and currently serves as the national director of Military and VA Lending with Caliber Home Loans. In addition to his work with Caliber, he serves in the Navy, and is also an instructor with NAR for the Military Relocation Professional certification. In the second part of the show, Juanita Charles joins the show to talk about how she serves active duty and military veterans. She served in the military, and now currently works as a REALTOR® in Clarksville, Tenn.

In the third episode, Real Estate Investing, Ron Phipps, former NAR president and owner of Phipps Realty, joins Monica to talk about how to get involved in real estate investing, and to discuss the benefits and the best ways to get started. Real estate investing is a great way to build wealth and to prepare for long-term cash flow for the future. This is a great opportunity for real estate agents, investors, and the general public. In addition to the benefits, Monica and Ron talk about some of the downsides to real estate investing, and the risk involved with different kinds of units.

In addition to this new podcast, feel free to also check out our featured product this month at the Center for REALTOR® Development, the NEW e-PRO® Day 1 and 2 online bundle, which is the educational requirement for NAR’s e-PRO® certification and is on sale this entire month of June at 25% off. This certification aims to help real estate professionals broaden their technology skills to connect effectively with today’s digitally-savvy consumer.

For more information, please visit onlinelearning.realtor.

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4 Ways Every Homebuyer Can Save on Title Insurance

(TNS)—When you find the home of your dreams, make an offer and apply for a mortgage, you might not give much thought to the cost of title insurance—but that can be a mistake.

A title policy defends buyers (and their lenders) from future property ownership claims, surprise liens and other potentially costly complications with property titles.

Homebuyers usually purchase title insurance as part of closing costs and often take the first title insurer suggested by the seller, says Rafael Castellanos, founder of a title insurance agency in New York.

Unfortunately, many buyers get sticker shock when they realize how much title insurance is. “The fees are generally about 1 percent of the loan amount,” Castellanos says.

However, buyers can cut the cost of a title insurance policy by hundreds of dollars if they are willing to ask questions and get independent guidance.

Here are four ways you can save money on title insurance.

Shop Around for the Best Deal
Title insurance involves a two-part process. First, a search of a property’s title history is conducted to look for errors or problems with the deed. Then, an insurance policy is underwritten to protect the buyer if any issues are discovered.

In several states, insurance providers are allowed to set their own prices, which means the insurance premiums can vary widely. Homebuyers won’t know which title companies offer the best rates unless they shop around.

A good place to start comparison-shopping is the website of the American Land Title Association, which provides a search engine based on geography.

Another option is to ask an independent attorney for help in understanding local regulations, costs involved and insurance company recommendations.

“Buyers need someone who has an independent thought and who is well-versed in real estate,” Castellanos says. “The best person for that is often an attorney.”

Negotiate the Add-On Fees
In states where insurance is highly regulated, title insurers don’t have much wiggle room on their rates. So, homebuyers won’t find much difference in premiums from one company to another.

However, in nearly all cases, extra fees are part of the transaction when you buy a title insurance policy. These add-on expenses include mail and courier charges, copy fees, and costs for searches and certificates—and these charges can be negotiable, even when the insurance premiums are not.

Experts say you often can reduce these costs simply by calling the title insurance company and asking to have some of the fees removed. If the insurer balks, you can always look for another provider.

Ask for the ‘Simultaneous Issue Rate’
Homebuyers purchase title insurance to protect themselves. At the same time, their mortgage company will likely require that a separate insurance policy be issued in the lender’s name.

It is typically the borrower’s responsibility to pay for both.

“The bank partners with you,” Castellanos explains, “but they need to be protected and confident that they have a valid first lien against the property, so they require this insurance.”

Although the two insurance policies are independent of one other, borrowers can buy them together and save.

“When the policies are issued at the same time, in some states there is something called the ‘simultaneous issue rate,'” Castellanos says. It includes a highly discounted premium for the lender’s insurance.

As a result, the total title cost for both policies is usually a lot less than if they were purchased independent of each other. Always be sure to ask for this discount.

Ask the Seller to Pay for Your Policy
When a local real estate market favors buyers over sellers, homebuyers may feel emboldened to ask sellers to pay for title insurance.

That used to be a very unusual request; however, in a buyer’s market, sellers are motivated and may be more willing to negotiate.

“You will see people financially negotiating on every term, including asking someone to pay for their title insurance,” says Edward Mermelstein, a real estate attorney in New York.

However, he cautions buyers not to lose sight of the overall goal, which is to close the sale.

There are many other concessions buyers can ask for in a deal—such as a reduced purchase price or a home warranty—that save even more money than having the seller pay for title insurance.

©2017 Bankrate.com

Distributed by Tribune Content Agency, LLC

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