Home Looking Drab? Boosting Curb Appeal Is Easy And Worth It

Improving the curb appeal of your home will not only bring a smile to your face when you pull up after a long day, but it will leave you smiling all the way to the closing table. Boosting the exterior aesthetic of your home adds to your enjoyment, but also can dramatically improve the value at resale. By focusing on the three main areas of your home’s exterior, you’ll be proud no matter who is driving by.

Improving the driveway, garage, and walkway

In most homes, the driveway and the garage comprise a significant portion of the home’s curb appeal, yet they are often overlooked by homeowners. Ensuring your driveway is in good condition and free of weeds will automatically freshen the exterior — edging your driveway with coordinating stones or pavers can also enhance the appeal.

Also, take some time to inspect your exterior walkway. Is it in good condition? Does it enhance the other exterior features? Upgrading a walkway with pavers or flagstones is relatively inexpensive and can dramatically change the way you feel walking up to your front door.

Garage doors can also set the tone for a home’s appearance. Consider touching up garage door paint or replacing your door altogether. With a wide variety of materials to choose from, a new garage door can transform your home’s exterior. Doors are available in wood, steel, and fiberglass with countless choices in design and color.

Attending to your home’s exterior

A home with siding and paint in good condition that blends well with the neighborhood and surrounding landscape will offer a more serene experience. Even if your paint is in good condition, consider power washing the exterior to remove dirt and grime that can diminish its appeal. Renting a power washer for the weekend is inexpensive but can reap massive rewards in how your home looks and feels.

Small changes to the entryway can have a dramatic impact on visitors. Replace broken or rusted lighting fixtures, update door hardware, and embrace symmetry at the entry point. Even the simple act of repainting your front door with a fresh shade can add tremendous appeal. Installing additional lighting along a walkway or dark areas can also enhance these exterior spaces.

Luscious landscapes

Landscaping is one of the primary ways to make a dramatic impact on how your home looks. Improvements in landscaping are thought to return about 4 to 5 times your investment when it comes to selling your home. To maximize your time and investment, first, assess what of your existing landscape can be used or improved. Trim overgrown bushes, prune trees and refresh mulch or other ground covering. Peeling back the overgrown exterior can attract some unwanted attention to your home — consider purchasing home insurance riders to protect any belongings not covered in your policy.

Adding plant beds to feature climate appropriate plants will help you maintain your landscape with less hassle and will enhance the natural beauty of your lot. Choose annuals to add bright pops of color, either in beds or matching planters at the front of your home.

Lastly, attend to your lawn. Patch dead areas with sod or seed and ensure you are caring for your lawn using recommended methods — mow regularly, use fertilizers and weedicides as needed, and make sure your clean up after any pets. Stubborn bare patches can be transformed into unique flower beds or improved with alternative ground cover, such as ivy, in areas where it is too shady for many types of grass.

With some simple and inexpensive fixes, you can create an exterior that you are not only proud of but that you enjoy spending time in. Not only will this improve your happiness in your home, but it will also reap benefits when you’re ready to move someplace new.

WRITTEN BY MIKKIE MILLS

Advertisements

8 Things You Should Do Before Moving Into A New House

Moving into a new house? Your task list doesn’t end once you pack up your old place – and we’re not just talking about all the fun unpacking you have ahead of you. There’s a few more things you’re going to want to do before you get in and start living it up.

Change the locks

It doesn’t make you paranoid to want new locks on the doors to your home. It makes you smart. “Who knows how many people have keys to what’s now your home? The fix is easy: ‘It’s usually a minimum charge for a locksmith to come to the house,” said Ron Phipps, principal with Warwick, Rhode Island-based Phipps Realty and past president of the National Association of Realtors, on Bankrate. Phipps’ advice: Don’t just re-key the locks – replace the hardware, too. You get a nice update, plus peace of mind.”

Don’t forget to change your garage door opener code, too.

Do an in-depth tour of the house

Do you know where the water and gas shut-off valves are? How about the electrical box and water heater? Any idea how to use your sprinkler system? Familiarizing yourself with all the ins and outs of the house and making sure key members of the household are also aware can help avoid disasters.

Seal off rooms you don’t use – or won’t be using right away

The first few months in a new home might be a revelation financially – and not in a good way. Between moving costs, new furniture, any renovations that need to be done, and the cost of turning on all your utilities, you’re probably going to want to save a few dollars where you can. Sealing off rooms you won’t be using for a while can help lower your heating and cooling costs.

Meet your neighbors

Your neighbors may be planning to come by once they see that you’ve moved in, but think about beating them to it. You never know where you might make a new best friend (or find one for your kids), and being friendly and outgoing from the get-go establishes good will.


Mindful CommUNITY
At the very least, being able to see a friendly face or two in the neighborhood will help you acclimate – and it won’t hurt to have someone point out the neighborhood gossip, tell you which Starbucks makes the best lattes, and help you find the most traffic-free route to the elementary school.

Join Nextdoor

Need a babysitter, a dog walker, a handyman, or a recommendation for the best Chinese restaurant in your new neighborhood? Nextdoor will help you find it.

Clean your carpets

A thorough cleaning of the home should have been done when the sellers were moving out. In some cases, it’s stipulated in the contract, and a seller who fails to live up to that aspect is “at risk for a lawsuit,” said Realtor.com. But unless specific cleaning tasks are called out, the house may not be as spic-n-span as you want.

Even if the house looks clean and tidy when you move in, they may have skipped the carpets. A good cleaning can extend their life, improve air quality, and remove allergens.


Mallary Carpets
“Little do most of us realize that what we are seeing is only a tiny fraction of the soil that a carpet contains,” said the National Carpet Cleaners Association(NCCA). “The visible grime we notice is only the tip of the iceberg; up to 85 per cent of the dirt the carpet holds is buried deep within the pile. And when you consider that a carpet can eventually trap its own weight or more in soil – as much as 150 pounds for an average-sized living-room – you’ll agree it’s no trivial matter.”

Wipe out drawers and cabinets

This is another oft-ignored task, and one that could be responsible for leaving germs, or at least crumbs, behind.

Change your fire alarm batteries

The U.S. Fire Administration (USFA) recommends that fire alarm batteries get changed twice a year. Since you probably won’t know when the last time this was done, it’s best to change them when you move in. That way you won’t be awakened at 3am by a blaring alarm your third day in the house.

WRITTEN BY JAYMI NACIRI

The Second Rule of Home Staging: Keep It Fresh

The overall goal of home staging is to make your home shine. After paring down to just the essentials, the next staging step is to give your home a light makeover to make it look – and feel – neat, fresh and pleasant.

Buyers don’t expect everything to be new, but they don’t want to be turned off by worn items or unpleasant odors. A good rule of thumb to go by: If it looks old, worn or dirty, then clean or replace it. A clean, fresh-smelling, attractive home tends to sell. Read on for some budget-friendly ways to refresh each room in your home.

Start With the Living Room

As one of the most frequently used rooms, the living room can get a worn, lived-in look pretty fast. Fortunately, it’s also one of the simplest rooms to improve.

First, give your living room a fresh coat of paint – and while you’re at it, paint every room in the home. In the living room, go for a color that is somewhat neutral, like a gray or a bone, that works with your pared-down decor.

Second, consider buying new throw pillows to jazz up that worn sofa. Go for a refreshing, trendy color or something with texture, such as a metallic linen, to bring subtle style to the room.

Next, turn a critical eye to your rug. If it looks dirty or faded, think about replacing it with an inexpensive and neutral jute or sisal rug. The simplicity and texture of these natural fibers always make a room feel cleaner and more serene. Jute and sisal are go-tos for most home stagers because they don’t cost a fortune and do hold up well under heavy foot traffic from an open house.

Olimpic Village Condo

Also, see if you can find a spot for a mirror, a classic trick for adding a light, bright element to any room. Although they may not scream personality, mirrors give a room an expansive, luminous quality that can appeal to a buyer.

Another rule that applies to almost every room is replacing any outdated light fixtures. Look to swap them with simple, neutral and stylish options that can handle high-wattage bulbs.

Finally, replace your knickknacks and accessories with a vase of fresh flowers. Use a medium or small vase so as not to distract from the rest of the room. Simple arrangements like a vase of white tulips or a cluster of peonies make a room fresh and lovely.

Move On to the Kitchen

Kitchens and bathrooms are crucial to the sale – specifically, the sale price – of a home. The more buyers feel they will need to spend on a kitchen renovation, the less they will want to offer for your house. That equation doesn’t mean that you should renovate your entire kitchen. You can make updates that cost far less than a total overhaul.

First, scrutinize your kitchen cabinets. Do they seem dirty or shabby? If so, instead of replacing them, consider the less expensive alternative of painting them. Whether you have them painted white, gray or navy, the new look can give your kitchen renewed life.

Kitchen

Next, whether or not you repaint your cabinets, inspect their hardware. You may want to replace these pieces with more modern or on-trend alternatives. Polished chrome, industrial iron and brushed brass are just some of the stylish options available today. As in the other rooms of the house, give walls a fresh coat of paint and replace any dirty, broken or dated light fixtures with clean, updated versions.

Kitchen

Freshen Up the Bathroom

As in the kitchen, you may want to replace any dated or worn fixtures in your bathroom — whether faucets or drawer pulls. Polished chrome is a good choice because it always looks sparkling and new. Brushed brass brings a trendy, elegant look.

Next, go shopping for fluffy white towels to put on your shiny new towel bar. Even if your existing towels are nice and white, purchase new ones for staging. Your towels, though probably lovely, are nonetheless used, and will continue to be used as your house is shown. Buyers don’t want to see anything personal.

Guest bathroom

Also look to replace a chipped mirror or older medicine cabinet. A newer option will go a long way to giving your bathroom a fresh clean look.

Just as in the rest of the house, give any painted walls a fresh coat. If your bathroom cabinets are a bit shabby, consider painting those as well. A dark navy, for example, could look stellar next to the crisp whites of your towels and tub.

white boxes

Speaking of the tub and shower, instead of replacing the tub, go for the much more cost-efficient option of having it professionally reglazed. This is essentially repainting the tub, making it look and feel new. Similarly, have the tile regrouted or pressure-washed. Your bathtub and shower will shine.

Finally, place something in your bathroom that smells fresh. Whether it’s a new bar of soap, a vase of fresh flowers or a reed diffuser, use something that will have a lingering pleasant scent.

Jennifer Backstein

Make Your Bedroom Oh So Calm

The bedroom is one of the most personal spaces in the house. But for selling, we don’t want it to feel so personal. An overall guide to staging your bedroom is to think of it as a stylish and serene hotel room that anyone would feel comfortable in. When your potential buyers walk into your bedroom, you don’t want them to think of you, smell anything personal about you or see your personal items left behind.

A good first step in depersonalizing your room is to replace your bedding with crisp white linens. If all white isn’t possible, look for neutrals that give the same effect. You want your bed to look inviting, fresh and comfortable. Opt for a decorative throw pillow to give a hint of color.

BY FRYD 2012

If you have outdated furniture, just as in the kitchen and bathroom, try replacing the drawer pulls with something more modern and with simple lines. Similarly, if you have lampshades that are worn, yellowed or broken, replace them too.

When possible, hang a mirror above the bed or at some other focal point of the room, such as the wall facing the bed. This can help open up the room and reflect whatever natural light you have.

Follow the same steps in the bedroom as in the living room when it comes to the rug: If your bedroom rug looks worn or dated, replace it with sisal or jute. If your bedroom carpeting needs covering up, try placing a thin dhurrie or knit rug atop it. A rug pad can help these types of rugs stay put on top of carpet.

Finally, add a small vase of flowers to a bedside table. This little touch will contribute a pleasant detail to your hotel-like oasis.

WRITTEN BY NEILA DEEN, HOUZZ

Use Technology To Attract High End Home Buyers

ERA Real Estate and HGTV reported 46 percent of consumers see smart-home technology as important for their current and future residences. But luxury homebuyers are willing to make the ultimate sacrifice. According to Digital Interiors, 94 percent of buyers surveyed would sacrifice 1,000 square feet of living space for more technology in their new home. Oversized houses are no longer the driving trend in the luxury real estate market and agents are under pressure to respond to the demand. Here’s what affluent homebuyers are looking for and which gadgets are must-haves.

Get a Smart Thermostat

Outfit your listings for luxury with smart-home additions like a smart thermostat. The Nest programs itself based on your preferences and can adjust whenever you leave to conserve energy. Your clients can control the system right from their smartphones. Owners can warm up the living room before an evening entertaining clients, talk about how they can jet set to their vacation home and simply check-in on their property as needed. The idea behind a smart thermostat is really about controlling the overall climate of the home as opposed to an exact temperature.

Enhance your Home Surveillance

Home security systems have always dabbled in the high-tech world of smart automation. In the past, most alarms simply triggered an annoying sound and contacted the police at signs of danger.

Today, home security cameras keep an eye on the inside and outside of the home with wireless cameras. A wireless camera system can be mounted to the wall or ceiling and monitored remotely. Home buyers are sure to be wowed by its sleek and discreet design. Some home security companies, like Lorex Technology, even offer subscription-free monitoring options, yet another attractive feature for potential buyers.

New owners can keep an eye on their home from vacation, at work or on a spontaneous outing without worry.

Go High-Tech Culinary

Updating a kitchen has always been a recommended way to raise a home’s price tag and attract buyers. But affluent home shoppers are looking for more than just new appliances and chef’s kitchens. The latest technology trends include no-touch faucets and smart refrigerators that can alert you when you’re running low on groceries. The LG model features an internal camera to check on its contents, built-in Wi-Fi to connect to your mobile device and offers available accessories that can be 3-D printed. Other high-tech touches like Bluetooth smart cooking thermometers tell your mobile device when your food is ready to create perfect dishes every time.

Upgrade your Luxury Entertainment

Just about every home has a flat-screen television; some piped for surround sound and home theaters. Let your clients take entertaining to a new level by controlling everything from one device like Savant. Your clients can adjust the lighting, change the channel on your smart TV and turn on music. A system like Savant can also help monitor your home’s security and adjust the climate as needed. While clients are getting ready upstairs for an evening with friends, they can adjust the entertainment area and living room downstairs to create a luxurious atmosphere.

WRITTEN BY REALTY TIMES STAFF

Quick Question: What’s The Right Price?

Important real estate questions can often be asked quickly —”What’s the right sale price?” or “What’s the right list price?”— however, the answers may take a while. A question may be simple to ask, but the answer is usually complex because real estate is complicated.

Even when the person answering is very familiar with the subject, arriving at the “right”— best fit, complete, and accurate — answer may first require asking questions of the quick-question asker, because:

Context is vital: Asking these questions is necessary to clarify location, property type, relevant ownership details, time-frames (seller and buyer), current market, and on it goes depending on what the asker wants to understand and why. For instance, has the asker just started thinking about selling, is the property already listed, or is an offer pending?

Point of View is highly relevant: The questioner may be asking from their point of view, or asking about the other parties involved, asking for a friend or relative, asking out of curiosity…and on that goes. The questioner’s perspective, which may be a buyer’s, seller’s, or professional’s viewpoint, is linked to their intent in asking the specific person they chose to question. This intent is tied to their connection with and potential gains from the real estate in question.

Level of understanding is essential: The questioner’s level of real estate knowledge and experience determines how a complex answer to a “simple” question should be framed for maximum understanding. The answer must take into account the asker’s knowledge of the law, finances, the real estate industry, and related factors like vocabulary.

And all this must be processed quickly. The person asked is expected to respond almost immediately.

As a speaker, writer, and author, I am regularly asked: “May I ask you a quick question?” My answer is as quick as the question may have been: “Yes, of course. I’d be delighted, however, the answer may not be as quick as the question.”

A quick question is often a closed question which grammatically begs a short, factual, even “yes or no” or “either or neither” answer. However, there can be a lot for the answerer (me in this case) to consider before beginning to formulate an answer. For instance here’s a quick question I was asked recently:

“I have a quick real estate question for you, PJ,” began Bill, a stranger who had heard I write this column. “Is it better to list a house at a lower price to entice buyers [into a bidding war] or set a price more compatible with what the hoped-for sale price might be?”

Yes…or no…or either…or neither. The answerer may have an opinion from past experience or a personal preference for the same reasons. However, the accurate answer to the question lies in transforming this general query into a specific response relevant to the asker — Bill in this case — and his intent in asking that question and in choosing me to answer it.

The general answer to Bill’s general question? “That depends on how desirable to identified target buyers Bill’s property is and whether there is a buyers’ or sellers’ market in that location.” At the same time, Bill’s goals regarding the sale are just as important to consider in choosing a marketing strategy for price — list and sale.

The specific answer for Bill’s specific question would first involve collecting property and ownership details, then determining market conditions, then creating a marketing strategy that reflects Bill’s goals. That’s what real estate professionals do. One that is familiar with Bill’s specific property and market, would have a knowledgeable answer for Bill. If this were Bill’s listing professional, Bill would receive specific, high-level details regarding each pricing option, so he could make a confident decision about all aspects of price. Along with market data on actual sales, this information would include details regarding listings competing with Bill’s for target buyer offers.

My answer to Bill — after he answered a few of my questions — was directed to what information and support he could expect to receive from the real estate professional he selected to sell his home. Bill had intended to use the “right” answer to his quick question to select a listing salesperson.

My quick answer concentrated on explaining how either strategy could work. However, I stressed that only a professional with local market knowledge and experience, could provide the information to help him see which alternative would achieve his goals. The question Bill really wanted an answer to was: “How do I identify and select the best real estate professional to sell my home and achieve my goals?” That’s the quick question I answered. Bill told me the answer was exactly what he needed.

My Quick Question: Does this make you afraid to ask me or anyone else a “quick question?” It must not. Sorting out what you don’t know about real estate will ensure your selling or buying success. Real estate professionals are trained to answer quick questions and every other type, so ask away. Listen to the answers. You’ll learn a lot very quickly.

Remember, there are no “stupid questions” in real estate, except those questions you don’t ask and later wish you had.

Resource:

Here is a sampling of articles from my RT column “Decisions & Communities” that explain complexities in simple terms regarding price and selling your real estate:

WRITTEN BY

What Do Rising Rates Mean For Homeownership In 2017?

The Fed raised interest rates last week, causing a ripple of concern among those who are worried about the effects on higher mortgage rates and the greater impact on the real estate market. But what do rising rates really mean for homebuyers? We’ve taken the temperature of several housing experts to get their take on the homebuying landscape for 2017.

Rates will continue to rise… or will they?

“When the rate was raised last week, the Fed predicted it would raise rates three more times in 2017, up from two in its previous forecast. But those predicted increases are just that – predictions, said the Berkshire Eagle. “A year ago, the Fed projected that it would raise rates four times in 2016 but has ended up doing so just once.”

Many housing authorities expect that rates will, indeed rise, and are eyeing a 5% benchmark.

“My forecast is for the 30-year fixed rate to rise above 4.5 percent by year’s end, and worst case scenario, knock on the door of 5 percent,” Matthew Gardner, chief economist at Windermere, told Inman.

Rising rates will impact homeownership…or will they?

Realtor.com predicts that home prices will continue to rise next year, increasing 3.9 percent. Their estimation of how high mortgage rates will go: 4.5 percent. Will the combination of rising prices and rates kill housing market momentum? The Mortgage Reports doesn’t think so.


TFS
The good news of rising rates, they said, is that “home price increases could finally slow. Home shoppers may once again find ‘deals’ in the 2017 market. Home values have been catapulted upward by almost-free borrowing. Home buyers were getting 30-year fixed rates in the low 3s, and fifteen year rates solidly in the 2s. That’s lower than the rate of inflation is likely to be in coming years. Cheap money makes monthly payments lower. Homes are affordable, even at very high prices. In 2017, though, that trend could reverse. Rising payments could mean fewer bidding wars and over-market-price offers.”

That could mean that buyers “have a better chance at securing a home at a reasonable price. Affordability may continue its winning streak, despite rising rates. 2017 should remain a stellar year to be a home shopper.”

But OC Housing News isn’t so sure. “Higher mortgage interest rates lead to lower sales or lower prices, but most likely, lower sales. Mortgage rates fell from mid-2010 through early 2013 just to maintain a low level of demand,” they said. “When interest rates went up, in what was supposedly a strong market recovery, demand immediately dropped off. Assuming a consistent payment, higher mortgage rates decrease the size of the loan and reduce the amount borrowers can bid on real estate. If rising mortgage rates result in smaller loan balances, then either sales volumes will go down, or house prices will go down, or perhaps some combination of both – unless you believe rapid wage inflation is on the horizon.”


TREO
Job growth will counteract the effects of rising rates and home prices…or will it?

It’s the prospect of job growth that has many people talking.

“November’s job growth outpaced October, indicating that the economy is growing at a healthy pace and should continue to do so,” said My Mortgage Insider. “The increase of jobs added is a sign that the economy is healthy. Another encouraging statistic is the decrease in the unemployment rate…from 4.9% to 4.6%. The strong economic conditions are likely going to (continue to) force mortgage rates higher. Generally speaking, mortgage rates are going to increase whenever the economy is doing well or whenever there is confidence in the market”.

The good news for those who are worried about rising rates is that “higher wage growth could offset the effect of higher mortgage rates,” said the Wall Street Journal. Although, for those who were thinking of relocating, the prospects may not sound sound so encouraging. “The fact that so many homeowners enjoy such low rates could also prove an economic brake, creating a disincentive for homeowners to move to a new city in pursuit of a new job if it means their mortgage might be more expensive,” said David Berson, chief economist at Nationwide Insurance.

WRITTEN BY JAYMI NACIRI

The Purchase You Can’t Afford To Ignore

Real estate owners who stay in touch with their neighbors can be first in line when the neighbor of an abutting property wants to sell.

Abutting or adjoining properties are neighboring real estate with at least part of one boundary touching part of your property.

If you own a house, semi-detached, recreational property, or even a condominium unit and the owner of a property bordering on yours considers selling, you want to be among the first to know and to act on that knowledge.

There are strong advantages to owning abutting property as well as your current real estate:

Proximity to neighboring homes may limit what you can do on your property. In turn, an adjoining neighbor’s add-on or build-up may have negative impact on your home. Buy the property beside you and you’ll have renovation “elbow room” and can escape being over-shadowed by a neighbor’s expansion.

Buy the adjoining real estate and you’ll may be able to combine the properties into a large lot that which would enable you to build an even larger home or add more amenities or trees.

Rent out the second property and you’ll have income, deductible maintenance costs, a say in who lives there, and full benefit of that property’s appreciation in value.

Owning adjoining properties is equivalent to having a sound and privacy barrier—breathing space—between your real estate and that owned by others.

Townhomes and condominium units with common walls provide opportunities for expanding space without moving. Check out the legalities of such possibilities when you buy the first property or at least long before an abutting unit is on the market.

If you own a recreational property, buying an abutting property could improve your enjoyment by extending your waterfront or expanding your view. You’ll definitely have control over more of the environment.

Larger properties provide opportunities for development to add multiple units or build up, all of which can increase property value.

You’ve chosen to live in an area you believe in. With two properties you’ll at least double your investment return as local real estate values rise. Buy more—whether you hold separate title on each property or combine some—and you’ll be investing in something you can live on or in and enjoy as it grows in value.

Here’s how buying the house across the driveway worked out for one couple: Mike and Melissa Russell (not their real name) struggled financially to buy their first house: one of the more modest detached two-storeys on a tree-lined residential street in the best neighborhood they could afford. They put location ahead of decor and house size knowing location could not be changed, and decor and size were what renovation was all about.

Years passed and the house became too small for their growing family. Moving was out because they had so many friends in the area, had so many connections to the neighborhood, and their children loved their schools. Then, the elderly neighbor living directly behind their property died suddenly.

The Russells knew the house and decided to approach the estate to buy it. After appraisals to establish fair market value and discussions between their lawyer and that for the estate, the Russells were proud owners of a second house.

They quickly completed cosmetic improvements on the house and rented it to cover costs including taxes, maintenance, and a mortgage designed to be paid off as quickly as possible. The two backyards were combined. The Russells created a large vegetable garden, outdoor kitchen, and patio. Over the years, friends helped the Russells add a pool and a basketball court to maximize the double yard.

After a few years as landlords, they could afford to carry the second house themselves. With the help of friends, the Russells transformed the basement into a sports playroom for the children, added a separate smaller rental unit, and created an office for Melissa’s online business.

Their plans for the future include selling the second home to subsidize travel and modernizing the original house once Mike takes a pension from his job. Living in their original home will mean no downsizing required, renovation without a mortgage, and staying in the neighborhood the Russells have always loved.

Whether you buy the house across your mutual driveway or backyard fence, the end unit beside you in your townhouse row, or the condominium unit above yours, buying abutting real estate should always be considered as a serious option before the opportunity is lost.

Be sure you have done your “homework”. You may only have a short headstart before everyone knows the property adjoining yours is for sale. Here are a few of the questions that help you prepare in advance:

  • The location was an excellent investment for your home, but does this neighborhood warrant further real estate investment?
  • Is staying in this location the best short and long term decision for you and your family?
  • How will you finance the purchase of the second property? Will rental rates cover mortgage payments and other expenses?
  • What municipal bylaws and other legal issues may undermine your projected use of the second property?
  • If you did not make this investment, how else would you put your money to work for your future?

Buying an abutting property is not always the right idea, however, it is always the right thing to consider very seriously when an opportunity to purchase presents itself. Be prepared by considering your options well in advance. You never know when a neighbor will knock on your door and ask…

WRITTEN BY