How to Make More When Selling Your Home

This year homeowners across the county are experiencing tremendous increases in the value of their home. Single family houses in prime neighborhoods with attractive, well-maintained homes in move-in condition are just killing it. Many of these homes are receiving multiple cash offers above asking price, with no contingencies, short closing cycles and minimal inspections. Now is the time to learn strategies for how to make more when selling your home.

This is truly a homeowner’s dream. Unfortunately, the bounty is not being distributed equally to every seller. In fact, some are getting way less than others and it has little to do with location, age or the configuration of the home. The biggest hurdle to making a killing on the sale of your home is poor condition, caused mainly by poor maintenance and neglect.

Homeowners with houses in disrepair are losing out on a rare windfall that could have been. You see, buyers in this market have money and are willing to pay but they are also smart, picky and they are opportunistic. They will be especially demanding if they smell blood in the water and if your home is a wreck, you might lose out without even knowing. You may still sell quickly and get more than you thought, but you will suffer greatly compared to your neighbor whose been living in the well-maintained home next door.

You ALWAYS end up paying for home negligence

The truth is, if you are selling a home that is un-maintained and falling apart, you have been suffering for a long time prior to this point. You have likely been living with components that either don’t work or are obsolete or perhaps are just outdated. You no doubt have had to deal with more than your share of emergency breakdowns, accidents, and costly surprise repairs. Your insurance premiums have been higher than necessary and the operating costs for energy, water and gas will have been much higher too because leaky windows, bad weatherstripping, inefficient appliances and old equipment are wasteful.

You ALWAYS end up paying for negligence to your home. Selling a home in poor condition will net you a lower cash price compared to a nicely kept one, but the real insult and suffering will have occurred while you owned the home…in the way you have been living. 
Wondering when the next surprise disaster or leak or untimely breakdown is going to strike can be stressful and worrisome, and bad maintenance cam be unsafe as well. No homeowner should have to live that way, and it is unnecessary. Next time do it differently. You don’t have to be rich, just smart.

The biggest hurdle to making a killing on the sale of your home is poor condition, caused mainly by poor maintenance and neglect.

The trick is simply to maintain your home. Inspect and service it regularly. Keep it in proper working order, replace components when they are obsolete or no longer appealing and when something breaks-fix it properly. This way the home is always ready to sell and YOU get to enjoy it in its best possible condition.

The rich worry less about these things because they have the money to make bad situations go away quickly. This makes things seem better than they really are. In other words, they can afford to make mistakes and get away with it. The rest of us don’t have the luxury to be that wasteful. We average folks have to be smarter. We must do some planning, but every homeowner who follows this advice can live like a rich person…only better.

Start when you buy the home. Unless you are a professional builder, avoid fixer-uppers. Always buy a home that is in the best possible condition. Get your own inspector to be certain of getting the facts. Never rely on the sellers’ inspections and especially not the realtor’s opinion.

Strategies to make more when selling your home

If you already own a home, continue reading as this advice applies to you especially.

When deciding to purchase a home, make sure you can afford to maintain it. Don’t ignore this and don’t go by some stupid government statistic. Have at lease $1.50 per square foot per year available for recurring preventive maintenance. In addition, you should also have a fund set aside for unscheduled repairs. In addition, you should have money available for the eventual replacement of critical old, worn-out, obsolete components. Most folks know that a new roof is expensive, but they may not know how much it will cost or when it will really need to be replaced. Nearly every component of your home has an expiration date. These dates and costs are important to know and budget for.

I want to emphasize again, do not buy a home that you cannot afford to maintain. The home will likely be your single biggest and most valuable asset. To get full value, you MUST maintain it properly. Do so and you’ll be a happy homeowner who can sleep well at night…and eventually… a rich one too!

“Must Have” Items for any Dream Home

Whether you are building a new dream home or just renovating your existing digs, here are eighteen home features you absolutely must include in your plans:

1. 1. 1. Motion activated video doorbell

         Motion doorbells are not new by any stretch, but today they are so affordable, useful and easy to install that every home should have one. There are many choices and options available so check to see what fits best for your budget. I personally have a Ring at the front door of my home and several at doors around my office. What’s great about these is they monitor and record anything that happens at your front door, plus you can interact with visitors to your home remotely using your phone.

         Find video doorbells on Amazon

      2. Video monitoring system

         Internet connected video cameras can easily be set up to monitor your entire home.

         Find video monitors on Amazon

      3. Power outlets at every toilet

         Toilets can now be equipped with electronic controls and attachments that require an outlet for power. The outlets are inexpensive and easy to install during construction but expensive and difficult after. For this reason, contractors and remodelers should install one as standard equipment at every toilet area.

      4. Consider Washlette toilet seats

         These are the famous “butt-washer” mechanisms pioneered by Toto over the years. At one time they were only available on the expensive top-of-the-line Toto toilets. Now they are sold as replacement seats and can be adapted to almost any existing toilet. Prices and availability are much improved over the last two years, and these adapter units can even be had at your local Costco. Washlettes are amazing pieces of engineering for your dream home that provide seat warming and air drying. They are said to improve cleanliness, hygiene and can even reduce TP and we all know how valuable that is now.

         RELATED: Baby Wipes are NOT a Replacement for Toilet Paper!.

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         Find Washlette toilet seats on Amazon

         

      5. Touchless kitchen faucets

         Now this is an item that you might not consider until you use one a while.  We have two in our kitchen now and find we really love being able to wash messy hands without touching the handles. Washing dishes is easier too as most have a front sensor that automatically turns on the water when dishes are waived in front. The temperature can be preset. These are affordable and offered in stylish models. I believe ours is made by Delta.

         Find touchless kitchen faucets on Amazon

      6. Whole house water filters

         Water everywhere is becoming questionable. A whole house filtration system not only can prevent a long list of pathogens it can help remove sediments from your plumbing system that can shorten the life of your fixtures.

         Find whole house water filters on Amazon

      7. Demand water heaters

         This is another product that has been around for ages but has recently evolved to become a total must-have. Demand water heaters save water, energy and last longer than the old tank-type units. If properly plumbed, the newest versions can circulate water to be instantly available at every fixture in the dream home. Maintenance is required once a year and involves a flushing of the system to remove calcium and sediment.

         RELATED: Get Payback for your Energy Conservation.

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         Find demand water heaters on Amazon

      8. Counter-depth refrigerators

         Refers in this configuration are less imposing and take up a smaller footprint. Since they don’t protrude from the cabinets, they can be made to blend into the design instead of becoming the focus point. I like them because the shelves are not so deep, you can see the contents clearly and the beers are easier to reach.

         Find counter depth refrigerators on Amazon

         

      9. Pantries in lieu of upper cabinets

         Upper cabinets tend to block views and close in on the space around you at head height. High shelves are also hard to use. Design some space for a pantry instead.

      10. Outlets with USB charging ports

          There is no way around it, we are a population of portable electronics users. Installing outlets with built-in USB ports saves having to hunt around when a charge is needed. Just grab your cord and plug in anywhere.Put these handy outlets at every countertop and work area.

          RELATED: No More Hunting Down Device Chargers.

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          Find USB wall outlets on Amazon

      11. Patio fire pit and/or patio heater

          This sounds like a luxury item although a fire pit can be used to practically expand your living space into the outdoors. Fire pits are sexy, warm, inviting and fun. You can get free standing models that are gas, propane and even wood burning. Follow instructions and be safe.

          RELATED: Fire Pit Safety Tips.

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          Find fire pits on Amazon

          Find patio heaters on Amazon

      12. Standby generator

          We have become more and more electricity dependent over the years, while our main power sources have become prone to unexpected outages. These outages are not only inconvenient, but they can also cause serious damage if they persist. Back-up power systems are becoming mandatory. Even a small system consisting of a portable gas generator can help avoid disaster when the problem arises.

          RELATED: 10 Reasons Every Home Needs a Back Up Generator.

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          Find standby generators on Amazon

      13. Garage storage and organization

          There never seems to be enough storage room. Using the space in your garage smartly can provide loads of storage capacity. Many designers and vendors specialize in making cabinet/closet/bench systems for your garage that work efficiently when it comes to storing and organizing your stuff.

          Find garage storage solutions at Amazon

          Find garage organization solutions at Amazon

      14. Work-from-home office areas

          As we all learned during the Covid-19 epic, working from home is something we need to be prepared for. Good designs will ensure you have plenty of light, desk space, outlets and places for computers, printers, files and most importantly big monitors.

          Find home office solutions on Amazon

          

      15. Outdoor living space

          Creating a place for outdoor entertaining can instantly make your dream home look and feel bigger and more luxurious. Unused patios or empty yard areas can be converted into little oasis of enjoyment with just a little creative effort.

          Find outdoor living solution on Amazon

      16. Excellent WIFI

          To function in today’s living environment requires high-speed internet coverage everywhere in and around the home. People working from home may need to stay connected as they roam around the house and yard with their tablets and laptops. Appliances, video doorbells, outdoor lighting, irrigation controllers and even garage door operators can all require fast connections to the internet. A good router system is mandatory.

          Find mesh routers at Amazon

      17. Moisture and leak detection system

          Water leaks around areas of the home where water lines are located have caused enormous and costly property damage over the years. Now there are systems that will detect leaks and moisture as it occurs and automatically shut off the water and alert the homeowner to take further action. Remote moisture sensors are located at each potentially critical location (under sinks, behind washing machines, below refers with ice makers, etc.) When these sensors are triggered, a valve turns off the water supply. Long overdue, these systems have improved and become very sophisticated over time. The good news is many homeowner insurance policies will provide discounts if you install these systems.

          RELATED: New products that can prevent major water leak damage.

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          Find leak detection systems on Amazon

      18. Warm floors

          These are one of the nicest and most luxurious additions to your dream home. If you are contemplating any major renovation or remodel to kitchen, bathroom or bedroom, you absolutely must consider adding warm floor heating to the budget. I have them in my home which is super insulated and just the warm floors alone are enough to keep the home toasty warm all winter. In the three years we have lived in the home, we have yet to use the forced air furnaces.