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Spring is home shopping, selling, and remodeling season. Why this spring is a time to sell and what improvements to make before putting your house on the market.
Spring has sprung which means people are doing more outdoor activities. That includes getting to work on that home improvement list or shopping for a new home all together.
“Spring is a good time for mortgages because the weather is changing and folks that want to buy are getting out and looking around more,” says Michelle Davis, Senior Vice President. “Also, it is almost the end of school and their kids wouldn’t have to change schools until the next year started. And, they would have the summer time to move in and get it like they want it.”
Last year, a combination of rising mortgage rates, rising home prices, meager housing options, and bidding wars caused sales to drop.
But falling mortgage rates and rising wages are expected to lead to a strong home-buying season this spring and summer. According to the Mortgage Bankers Association, mortgage applications for home purchases are already up compared to this time last year.
Spring is also the time many people look to make home improvements.
“Homeowners are thinking clean, new and fresh,” said Davis.
For those planning on making major home improvements, it’s always best to focus on the ones that will offer a return on investment, especially if you’re planning the sell the home in the near to very near future.
New windows, specifically those in the mid-range, can deliver as much as 78% return on investment, according to Zillow.
Focusing on curbside appeal can really help. Aesthetic fixes like landscaping, clearing clutter, repairing gutters and downspouts, repairing or replacing the mailbox, and touching up any areas where paint is peeling can go a long way to getting a home buyer to come in the door.
Taking that paint one step further, Zillow found that a pop of color can go a long way. A creative colored door can increase a home’s value by as much as $6,000.
If you’re up for a more expensive project, replace the roof. A typical shingled roof will last anywhere from 10-20 years. It’s best to hire a professional for this one though.
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