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When homeownersthink about renovatingtheir properties, many firstneed to secure somefunding to finance suchprojects. Some may tapinto the equity of theirhomes by refinancing anexisting mortgage, whileothers may apply forhome equity loans. Takingthe latter approach mayrequire certain steps,including an assessment ofhow much the home andproperty is worth.
Home appraisalscompare your home toneighboring properties todetermine your home’scurrent market value.Homeowners can facilitatethe process by havingcertain informationreadily available for theappraiser. When preparingfor appraisers,homeowners shouldconsider and collect thefollowing information:
• If you have madesignificant upgrades sinceit was last appraised, suchas installing a new roof orsiding. Don’t overlooksmaller renovations, likeextra insulation added orsealing drafty windows,which can increase ahome’s value.
• Proof that you haveused sustainable resourcesor if you participated inany energy-savingsprograms.
Naturally, anyexpansion projects, suchas adding anotherbedroom or extending thefootprint of the home,should be mentioned.
A real estate appraiseris a certified, licensedprofessional who will dohis or her best todetermine the value ofyour home. The appraisalprovides banks withinformation that can tellloan officers if the house isworth the loan amount.Expect to pay a fee for the
appraisal, which isgenerally included in yourclosing costs.
The appraiser gathersinformation for theappraisal report from anumber of sources, butthe process often beginswith a physical inspectionof the property, bothinside and out. He or shealso will compare yourhome against a few othersin the neighborhood,which are known ascomparables, or comps.Appraisals will be basedon recent prices ofcomparable properties aswell as other factors.
It may be worth it toinvest some more moneyinto the property beforehaving an appraisal done.A study sponsored by theNational Association ofRealtors says wood floors,landscaping and anenclosed garage can leadto a more favorableappraisal.
An accurate assessmentof the value of your homewill give banks theinformation they need todetermine loan amountsfor future renovationprojects. Providingbackground informationon the home and having awell-maintained propertycan improve the chancesof a favorable appraisal.
(StatePoint) Before youdecide on a home im-provement project, it’s agood idea to learn whichones will help raise yourhouse’s value and recoupthe most money whenyou decide to sell.
From replacing yourfront door to adding adeck, there are manymidrange improvementsthat won’t cost a bundlebut will deliver greatbang for your buck. It’snot about spending themost money; it’s aboutimprovements that besthold their value.
The experts at “Re-modeling” magazine re-cently released their 28thannual Cost vs. Value Re-port, comparing con-struction costs withresale value for 36 of the
most popular home im-provement projects.When it came tomidrange projects, thereport found homeown-ers recouped the highestpercentage of costs onthese five improvements:steel entry door replace-ment, installation ofmanufactured stone ve-neer on home exteriors,garage door replace-ments, vinyl siding re-placement, and woodendeck additions.
“Making your homestand out from others onyour block and others onthe market is achievableif you plan wisely whenit comes to remodelingprojects,” says PhilWengerd, Vice Presidentof Market Strategies atProVia, a leading building
products manufacturer.“This year’s statistics in-dicate that moderatelypriced exterior projectscan significantly enhancehome resale values.”
This year’s analysis oftop midrange home im-provement projects pro-vided definite directionfor homeowners:
• Steel Entry DoorReplacement: The 20-Gauge Steel Entry Doorhas consistently deliveredthe best return on invest-ment for resale, holdingthe top spot in the
midrange product cate-gory since its debut inthis report in 2009/2010.The steel entry door isthe only project that, ona national basis, morethan pays back its invest-ment, typically recouping101.8 percent. At ProVia,for example, the com-pany’s Legacy Steel EntryDoors are a consistenttop sales performer.
• ManufacturedStone Veneer: A new
PAGE 14 PRESS & DAKOTAN ■ TUESDAY, MARCH 10, 2015
Though it may seemlike interior decoratorsare a luxury reservedexclusively for the richand famous, interiordecorators work withpeople of all budgets.Homeowners some-times wrestle with thepracticality of hiring adecorator, wonderingwhy they should spendthe money when theycan do the work them-selves. But just likehomeowners may hireprofessional electriciansor landscapers, hiring aprofessional interior
decorator can ensurethe job is done right,within budget and com-pleted within a reason-able amount of time.
Those who have al-ready invested quite abit of money into theirhomes but want to addsome finishing toucheswould be wise to hireinterior decorators ordesigners. Homeownersoften have no ideawhere to begin whenattempting to establishflow from room toroom in their homes.Decorators can help
homeowners tailor theinteriors of their homesto the homes producethe desired vibe.
Hiring a designercan help a person avoidmaking potentiallycostly design errors. Anaesthetically appealinghouse also can increasethe home’s value, set-ting a property aboveothers in terms of ap-peal. Even though thedesigner will charge afee, the investment maybe well worth the ex-pense when the room isdone right the first
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✳Insectscontinued from page 13
that like moistsurroundings. Removestanding water wheneverpossible to eliminate spotsfor mosquitoes toincubate larvae.
Natural remedies alsomay do the trick. Mint,bay leaves, catnip, andgarlic can repel insectslike roaches and ants.Citrus can be a naturalflea deterrent. Somehomeowners have hadsuccess plantingmarigolds around theiryards to serve as a naturalbug repellent because theflowers produce a scent
that many insects findrepulsive. Thai lemongrass plants also can beused to keep mosquitoesat bay.
Warm weather issynonymous with manythings, including thereturn of insects.Homeowners may be ableto treat unruly bugs ontheir own, but especiallyproblematic infestationsmay require the help ofexperiencedexterminators.
Redefine a space with an interior decorator’s help
Five top home improvementsthat raise your resale value
✳Improvementscontinued on page 15
Make the mostof your homeappraisal
■ MetroCreative Connection
■ MetroCreative Connection
■ MetroCreative Connection
time.Interior decorators
have numerous re-sources at their disposal.Fine tuned to the worldof design, they under-stand which trends willcome and go and alsowhich design ideas havestaying power. In addi-tion, decorators will bein touch with vendors inthe industry, connectinghomeowners with thebest of the best in termsof providing furniture,housewares, photogra-phy, and additional spe-cial touches that helpmake a house a home.
In addition to ex-pertise and resources,interior decorators haveeyes that will be trainedon things homeownersmay not have noticed oreven realized can bedone. A designer mayenvision removing aroom to create morespace or knocking a walldown to let more natu-ral light into a room.
Designers and deco-rators are trained tothink differently andspatially to achieve con-cepts homeowners maynever have envisionedfor themselves. Theycan help tell storiesthrough design and im-prove spaces immeasur-ably.