In this short video I share the top 4 home improvement projects that gain 100% or greater ROI (Return On Investment).
Not having updated electrical can mean thousands of dollars in costs should it be required by the city the home is located in. Making sure you and your home inspector know what is needed to be considered updated will help you get a better idea as to what you will need to do. However, if the electrical does need to be replaced, most home buyers will simply walk away.
Water and Plumbing
Water and plumbing are some things that can go wrong in a home inspection. Old pipes, leaks, and other various things can arise during an inspection. Often times it is costly for a major issue in this area to be repaired. While small issues could be resolved, major issues are usually not taken care of by the buyer or seller due to the often high costs.
Heating and cooling units are used often and can be costly if they are not maintained regularly and correctly. When looking at homes, buyers should look at these appliances to get an idea of how old they are so that a proper idea of replacement or repair costs are known up front.
Smoke and Carbon Monoxide Detectors
These days you can never have too many smoke and carbon monoxide detectors. And while the cost of these units are inexpensive compared to earlier years, many home buyers will not spend the money to add units to a home. Sellers should be aware of this issue and make sure that all the necessary detectors are in the home BEFORE putting their home on the market.
Most window replacements for even a small home could range in the thousands. This is no surprise that old and worn out windows usually fail a home inspection and often times kill a purchase. Although many times home buyers base their offer on knowing the windows need replacing. However, sometimes deeper issues arise with windows during an inspection and could overwhelm a buyer.
Some mortgages require a pest inspection for pests i.e. termites. Most pest issues are not obvious to a home buyer or even seller. A trained professional will inspect areas that most home sellers do not go into for a while if at all i.e. attics or crawl spaces. If a pest issue is too big, a home buyer could walk away.
Foundations can be devious and often times hide their faults only until a home inspector inspects the foundation via crawl space or basement. With major repairs to foundations ranging in the tens of thousands of dollars, it is no surprise that foundations fail a home inspection fast.
Doors are something that is used daily and should be in top working order. Doors that are not functioning right or appear to be in bad shape can often times turn off a buyer. The entry doors are often times the most looked at door and provide a first impression when viewing a home. Making sure doors operate and are in good shape can mean good news for a buyer and seller.
The last Macomb County Scanner live episode for 2017. We talk about the latest in Macomb County News from this highly popular FB page. Subscribe to the page at facebook.com/macombscanner
A brief video about what the differences are between FHA loans and Conventional loans.
This show is a revised version of my show Real Estate Talk w/Jason Gelios. I have changed the format to be a full Q&A of real estate topics that people ask me.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the books 'Think like a REALTOR®' and 'Beating The Force Of Average', Creator of The AskJasonGelios Real Estate Show and Expert Media Contributor to media outlets across the country.