When it comes to different home improvements there are many that can be done to both help enhance curb appeal and also provide increased home value. While many people may focus on the interior of the home, interior/exterior painting, or perhaps landscape design, not many focus on adding a new roof or having roof repairs done. But adding a new roof to your home can help to not only increase home value but it can also help to improve your home’s energy efficiency helping to lower utility bills. So whether you are planning to sell your home or stay in it, there is benefits to both!

First and foremost you will need to assess if you need a new roof or if you are in need of roof repairs. While most residential roofs can last for 20+ years it all really depends on a few different factors. Two huge factors that can affect the lifespan of your roof are weather exposure & the climate in the area you live in. Prolonged exposure to extreme weather can help to age your roof faster making it essential for a roof replacement.

Adding a roof coating to your roof can also greatly help extend the lifespan of your roof while also helping to reduce repairs. Not sure if your roof is in need of roof repair or roof replacement? A reputable local  roofing contractor will usually provide a free or low-cost roof inspection to assess any damage or issues your roof may have.

Common Signs You May Need A New Roof

• Sagging of Roof
• Mold along the edge of the roof
• Dented shingles
• Missing shingles
• Sand-like granules collecting in your gutters
• Torn flashing
• Daylight showing through into the attic
• Dried out caulking(under the flashing)
• Blistered ceiling paint
• Stains on the interior of the home

So,how much value does a new roof add to your residential property? Depending on the source most new roof additions will increase property value anywhere from $12,000-$15,000. When looking at it from an investment standpoint that means that the ROI is anywhere between 63-68%. But if you factor in the increase in energy efficiency and lower utility bills it means you are getting back or saving, even more, in the long run, depending on how you look at it. If you just aren’t sure if you are in need of a new roof or of the current condition of your roof, seek the expertise of an experienced roofing contractor.

With the many reality shows today on flipping houses and the incredible profit that can be earned in doing so, many people are seeking to try flipping houses on their own. However, while TV shows and house flipping success stories can be very encouraging and make things seem relatively easy the truth is there are a lot of important factors to consider before looking to start your own house flipping side hustle.

Is Flipping Houses Profitable For Everyone?

There are two types of house flipping journeys investors can look to embark on. The first involves buying property with the intent to perform repairs and upgrades before selling for a profit. The second type involves purchasing property and sitting on it (or renting it out) until the market value increases and then selling it for profit. While both can be very profitable most looking to flip houses opt for the former of the two. But in order to buy any type of property for whatever reason, you first need the capital, and unless you’re paying cash and a pretty good credit score. You may have seen many success stories documented on social media, YouTube, and so on people who have started out with zero dollars of their own and ended up making the big bucks in flipping houses. While there are stories that are true like this there are not many.

70% Rule – Live By It

The first thing to put into place after figuring out where you will get capital from is the 70% rule. This rule is formed around the concept that the price of the property you purchase should cost 70% of the home’s value after repairs/upgrades have been done and factored in.

Utilize A Trusted & experienced Appraiser

Witty the 70% rule in mind you will want to get each property you look to purchase appraised by an experienced and reputable appraiser. Once you have received the value of what the home/property is appraised at you can then figure out if the profit is worth the output….but this also means that you need to factor in the time and the labor you put into the project.

Accounting For Time & Labor

After you figure out the profit you can potentially make after repairs & whatnot you will then need to take into account the time and labor the project demands. If you’re making an $80,000 profit but it takes 2 years for the repairs/upgrades to be completed you are then really only making an extra 45,000 per year and it’s not gained until the end of that two years. Just a little food for thought there.

Capital Gains Taxes

Then we have capital gains taxes that can either be asses as long-term or short-term taxes. Should you own the property for longer than one year you will be assessed long-term property gains taxes and the amount taxed is based on if you are single/married and the yearly income you make. If you own the property for less than a year you will be assessed for short-term capital gain taxes which are based on your yearly income bracket.

Let’s not also forget you will need a trusted team of experienced individuals who are able to handle remodeling repairs and so on. Or you will need to be knowledgeable yourself. While house flipping can definitely generate a great profit there are definitely a lot of things to consider & plan for before setting out on your property buying journey.

Did you know that realtors estimate that upgrading your garage door can help to increase your home’s value by up to 4%!? And another 70% of realtors strongly believe that a new or upgraded garage door can help to sell your home faster! In fact, your garage door is a huge part of the overall appearance & curb appeal of your home. With newer garage doors offering more modern & fashionable features, you can change the entire look of your home by installing a new door. 

One of the best ways to explore your options when it comes to new garage door installation or garage door repair is to work with a reputable & professional company like https://parkerdoorsaz.com/garage-door-repair/lake-havasu-city-az/. Garage door repair & installation experts can help to guide you through the process of finding the door that best compliments your home, while also helping to ensure your new garage door is installed safely & efficiently. Installing a new door or upgrading your existing garage door doesn’t only help to upgrade the appearance of your home, it also helps to improve energy efficiency. Why?  Because a lot of newer garage doors on the market are made from higher quality materials and insulation than they were in past years. New doors with more modern materials & features also can help significantly with air transfer control. What other benefits come with upgrading your garage door?

Benefits of A New Garage Door

Better Security – with a new garage door you often gain a lot more security than you had with your older door. Older doors are easily manipulated by intruders due to older motors. Newer doors also tend to offer a more secure & upgraded locking system than older doors.

Upgraded Safety Features- your garage door safety features are upgraded with newer doors because newer doors offer more modern technology. Photo-eye sensors and automatic reverse systems help to make sure that your garage door never comes down on anyone, your vehicle, or other objects.

Overall upgrading your garage door is beneficial in so many ways. From curb appeal & updating your home’s overall appearance to becoming more energy-efficient, ensuring more security for your family & your belongings, to promoting efficiency and functionality, upgrading your garage door is a sound investment with a great ROI. Remember it is extremely important that you work with knowledgeable, & trustworthy garage door experts when looking to purchase & install a new garage door. Establishing a relationship with a reputable garage door repair & installation Company like Parker Garage Doors Lake Havasu will ensure that should you ever have any issues with your new door or are in need of garage door maintenance you will always have a trustworthy expert to call.

You have put an offer in on your dream home and it has been accepted! You are looking at finalizing your mortgage loan and want to understand the process as best as possible to make sure you are getting the best rates and saving as much money as possible. After all, you just bought a new home, and while you can afford it, it still may seem a little scary that you are responsible for the upkeep, maintenance, and repairs that come with owning a home. 

There are two types of mortgages that can affect how the interest rate is applied to your home loan. 

Fixed-Rate – same interest rate for the life of the loan

Adjustable-Rate – a set interest rate for a certain time frame/period – after that the rate varies depending on market conditions

Interest rates can change daily and are affected by a number of contributing factors such as inflation, bond market conditions, economic factors, and economic growth & housing conditions. Because of this, it is strongly advised that you try to lock in a favorable interest rate to avoid the ups & downs of market fluctuations. That being said, the interest rate that you qualify for greatly depends on factors such as your financial situation, credit score, down payment capabilities, loan amount, and your debt to income ratio. 

From there you also have to take into consideration your APR as well. Many often confuse interest rate & APR thinking that the two are one and the same. But when it comes to home mortgages they are not! Your APR or annual percentage rate takes ALL of the fees of your home loan into account. Such as your closing cost, lender fees, interest rate, etc. In general, your APR tends to provide a more complete overview of the total cost of your mortgage on an annual basis. 

In the end, it is best to work with a trusted mortgage broker and real estate agent you can trust. He can help to ensure that not only does the entire home buying process go smoothly but that it is also as understandable, and financially sound as possible. 

Not knowing the best practices when you decide to buy a home can cause a lot of frustration, stress, and money wasted. By taking a little time to understand some of the best practices to follow when buying a home you can positively affect your overall experience and outcome. We compiled our list of best practices to share with you, to help make the home buying process a little easier. It can be an intimidating experience but it doesn’t have to be!

First Time Home Buying Tips

Finding Your Agent – It never hurts to do a little due diligence first when it comes to deciding on the agent you will be working with. The right agent can make all the difference. That being said, creating a sound and compatible business relationship with your chosen agent is beneficial to both parties involved and will make working together a lot more peaceful.

Personal Touch – Adding a personal touch when making an offer on a property can help you to stand out to the seller, especially if there are a lot of offers. A simple note or video explaining to the seller why you are the best choice for the home can help you to personalize your offer & create a connection. 

Utilize Social Platforms – Social platforms are a great way to connect with people and discover new things. If you are looking for a home in an unfamiliar area utilizing social media platforms to find local agents and real estate groups may just help you to make some of the most valuable connections in the entirety of the home buying process. 

Know Your Costs – It’s extremely beneficial that you sit down and make a realistic budget including ALL of the costs related to buying a home. Most homebuyers are focused on the down payment and don’t consider other small factors that can often add up leaving you wondering how the total is higher than you expected. Factor in closing costs, your down payment, fees, and even a little breathing room. Knowing that you have a little extra cushion can help to ease financial worries and stress as well.

HOA – One of the most missed things when searching for a home is investigating the HOA to see if you agree to their terms & rules. Compatibility with your homeowner’s association is a must!

Keeping these things in mind can really help to ensure you have the best home buying experience. Knowing a little about your responsibilities as a buyer and those of the seller is extremely beneficial as well! Happy Home Buying!

When it comes to selling your home there are many factors that contribute to its overall value & potential profitability. That being said one very important factor when it comes to selling your home is landscape design. In fact, your properties landscaping can help add to or lower the value of your home!

Properties that are well landscaped have a significant price advantage over those that have no landscaping. In fact, the price increase is anywhere between 5% and 13% and when incorporating landscaping into your property you not only add overall value to your home, you add it immediately. And the value only continues to increase as the years go by! Blue Star Irrigation & Landscape, a landscape design & maintenance company based in Prescott, Arizona, notes that while landscaping is indeed important when it comes to adding value to your home it also needs to be done in a professional, clean & organized way. The types of trees and plants you decide to incorporate should work well with one another and fit your property as they grow & mature. Working with a professional landscape company is highly suggested but should you opt for a DIY project there are a few key factors to keep in mind.

You are looking at potentially selling a property but want to make sure you have a correct read on the market. One of the most common questions from those looking to sell their property is, How do you gauge the market from a seller’s perspective? Keeping in mind a couple of key pointers and bits of knowledge can help you to correctly gauge the market from a seller’s perspective making sure that you get the best price for your property and offering the best ROI.

Before Listing Your Property For Sale…

First and foremost this should go without saying, before listing your property you should always evaluate the market. This will give you an idea of the possible length of the sale and also help you to pinpoint competitive list prices so that you are able to gain a better return on investment.  The National Association of Realtors publishes a trends report every month that by selecting the city of choice you are able to view 1. The median age of homes on the market 2. The number of homes for sale  & the average price in that specific area. Also taking a look at the comparable homes in your area, and what they sold for can really help you to gain a better understanding of the current market & the kind of competition you are up against.

It is also important to keep in mind that the real estate market undergoes many fluctuations throughout the year so monitoring the market consistently is your best bet. It also thrives on both micro and macro-economic factors and though it might seem like a tedious and time-consuming job it can be well worth it when you finally close the sale of your property.

Another important aspect to keep in mind is that roads, bridges, schools, and any new infrastructure development in the area, hospitals, supermarkets, public facilities, etc. all will aid in igniting market growth. Sometimes being patient is the best way to go when it comes to both buying and selling real estate.

Commercial real estate encompasses retail, office, industrial, warehouses, and mixed-use apartment buildings. Investing in commercial real estate can create a number of advantages & potential benefits when it is understood and done right.  One of the most important things to do before making any real estate investment decisions is to really do your due diligence to make sure the type of property you look to invest in aligns with your investment strategy.

Determining Your Investment Strategy

Cash Flow- Knowing what you need/want in terms of cash flow is very important. Are you able to carry property with higher cash flow but more risks or do you prefer low cash flow with more of a safety net? Which of these options is better for you & will make you most comfortable when investing?

Value Add On’s- Are you looking to purchase a property that is a “value add-on” property (a property that needs work). Whether it’s a complete renovation, deferred maintenance, or exterior landscape improvements you need to have an active strategy because there are a lot of moving parts. It is also a good idea to have a solid trustworthy local team in place when investing in add-on properties.

Holding Time- Also, another factor to consider when looking to invest in value add-on properties is hold time. Most value properties have a hold time of 1 to 3 years. Cash Flow properties on the other hand can be used to generate income for your next investment.

When investing in commercial real estate properties it is a good idea to invest in properties in “high appreciation” areas. Holding on to these properties also creates an opportunity when the market increases and you are able to raise rents respectfully. Also, take note to further investigate commercial property finance rates. Knowing all of the details before you look to invest ensures that you have thoroughly assessed your investment and investment strategy.