Living • June 25, 2023

Tips for Home Pest Control and Prevention

by Don Koonce

Any evidence of a pest infestation is a bad omen for homeowners. The last thing you want on your mind is the thought that critters could be crawling through your home, wreaking havoc as they go. Being proactive about home pest control can help you prevent an infiltration, and knowing what to do at the first signs of pest activity will help you limit the damage they cause.

Tips for Home Pest Control

Being a homeowner comes with the responsibility of protecting your property. Whether it’s a home security system to deter home burglaries, regularly cleaning to prevent mold growth, or testing for asbestos, you’ve got a lot on your plate. But these aren’t just nagging to-do-list items, they are important proactive steps that will help you avoid costly repairs. Preventing pests is no different; even the smallest bugs can do big damage. So, how do you stop them?

The best defense is a good offense, and keeping pests from getting inside will help reduce the damage they can cause. Though you may not be able to shut out every single bug, you can make it difficult for them. Cover holes with durable materials like steel wool and copper mesh to keep them out. Check all the seals and weatherstripping around your doors, windows, and on your roof, re-caulking as necessary to make them airtight, and patch up sections of torn window screens with new screen material. The gardener in you may enjoy the flourishing look of your plants, trees, and shrubs fully grown out, but if they’re touching your home’s siding or roof, it’s basically a highway express lane for pests headed indoors. Trim all landscaping away from your home to limit pest traffic and reduce your chances of them causing damage to your home.

A closeup of someone’s hands doing home pest control prep work by caulking a new seal below a window.

Image Source: Getty Images – Image Credit: StepPro

DIY Pest Control

Extra garbage, leftover food, and plumbing leaks will attract pests. Regularly take out your trash and dispose of compostable food scraps to keep the bugs at bay. If a leak springs, it’s like a magnet for certain pests looking to capitalize on the damage. This emphasizes the importance of taking steps to prevent water damage in your home and quickly repairing leaks when they happen.

If you plan to use pesticides in your home to deter ants, bugs, and other pests, do so safely. Visit the Environmental Protection Agency (EPA) online for tips on how to correctly use pesticides in your home.

You can also use common pantry items to deter pests. A mixture of water and an essential oil like peppermint, lemon grass, or cedarwood sprayed along windows and doorways is a natural way to repel bugs. A little apple cider vinegar with dish soap in a small cup will help you attract and catch fruit flies, whipping up a quick white vinegar-and-water mixture will quickly clean up messes pests leave behind, and the strong smell of coffee grounds is powerful enough to stop them in their tracks. Learn more about how these food products can help you get your home sparkling clean:

6 Natural Cleaning Solutions for Your Home

If pests have gotten in your home and started causing damage, it very well may be too late for DIY preventative measures like these. In these situations, it’s best to contact a local licensed professional to exterminate as needed. Depending on the extent of the damage, you may be temporarily displaced from your home. Be sure to plan ahead if that’s the case.

For more information on home maintenance, read the following blog post on preventing mold growth:

How to Prevent and Deal with Mold

Featured Image Source: Getty Images – Image Credit: AndreyPopov

Sellers • June 22, 2023

How to Research Home Prices Before Selling Your Home

by Don Koonce

Thinking about selling your home? You’ve likely got a thousand questions swimming around in your head, but there’s one that tends to stick out in homeowners’ minds above the others: What’s my home worth? Your real estate agent will be your greatest resource in answering this question once you’ve decided you’re ready to sell your home, but knowing how to research home prices on your own beforehand will help to inform those conversations. Here are some of the ways you can make good use of your time before you put your home on the market.

What’s your home worth?

Automated Valuation Models (AVMs) are a great first step in understanding home value but aren’t nearly as comprehensive as your agent’s market analysis. They compare your home against other comparable listings in your area to estimate your home’s selling price. Windermere’s Home Worth Calculator evaluates your property and the surrounding market to give you an idea of what your home is worth. Try it here:

How to Research Home Prices

Though AVMs help you research home prices, to say they’re 100% accurate is one of the most common myths of the selling process. To fully understand what your home is worth, you need a real estate agent’s expertise. They’ll conduct a comprehensive Comparative Market Analysis (CMA) to accurately and competitively price your home. An agent’s CMA compares your home to similar listings in your area, sifting through tons of data on the Multiple Listing Service (MLS), a huge network where agents can share information regarding available listings. Here, your agent can maximize the visibility of your listing and easily connect with buyer’s agents to start a conversation about buying your home.

A Black woman real estate agent is showing research on home prices to her client who is looking to sell their home.

Image Source: Getty Images – Image Credit: kate_sept2004

Local Real Estate Market Conditions

Your local real estate market conditions should be a point of emphasis in your pre-selling research. Generally speaking, there are three types of markets you could be faced with as a seller: a seller’s market, a buyer’s market, and a balanced market. Each market will have different implications for how you and your agent approach negotiations, how you interpret buyers’ offers, and your philosophy regarding the terms of common real estate contingencies tied to different offers. And maybe of greatest relevance to you, knowing more about your local market conditions will help you understand a bit more about what price your home could sell for. To see the latest housing data on home prices, home sales, and more in your area, visit our Market Updates page:

Windermere Real Estate Market Updates

Finding the Right Agent

Besides all the number-crunching, some of the most helpful research you can do on your own is finding the right real estate agent. Getting referrals from family members or friends is a great starting point, but it’s still worth it to make sure the agent is right for you. Yes, their business acumen should be a priority, but remember that you’ll be together through all the ups and downs of the selling process, so it’s just as important that you connect on a personal level as well. If you’re looking for an agent with a specific specialty, identify professionals that have the certifications and designations to match.

Once you’re ready to sell your home, connect with a local real estate agent to begin your selling journey:

Featured Image Source: Getty Images – Image Credit: FG Trade

Design • June 20, 2023

DIY Projects: How to Install Patio Pavers

by Don Koonce

Homeowners are often on the lookout for DIY projects that are fun, simple, and boost curb appeal. Patio pavers create a focal point in the backyard. They set the stage for get-togethers and will give you endless ideas for different ways to entertain your family and friends. With a little planning and a few trips to the hardware store, a new patio can give your outdoor space a landscaping makeover.

How to Install Patio Pavers

A paver patio is a great way to unlock your inner landscape architect. It can handle heavy foot traffic and gives your backyard a refined, organized look that gives you a dedicated space to relax. This is a DIY home project that can be completed over the course of a weekend, but given its physical demands, you may want to spread the work out over multiple days.

Materials Needed

Your patio measurements will determine the amount of material you need to purchase. Once you’ve calculated your patio’s square footage, you’re ready to hit the hardware store. You’ll need to buy the pavers themselves, a paver base and sand for the bottom layers of your patio, plus additional paver sand to fill in the gaps once the pavers are set in place (like grout). You’ll also need to consider how you want to set the edge of your patio, which can be done with concrete or a metal or plastic edging to secure the pattern of the pavers. In terms of tools, you’ll need common toolbox tools (tape measure, shovel, level, broom, hammer, garden hoe, rake) plus job-specific tools like a tamper, chisel, stakes, and a wheelbarrow.

DIY Projects: Patio Pavers

To avoid running into problems during the project, check with a local professional that you won’t hit any lines buried in your backyard when you start digging. You’ll also want to make sure that your plans are in line with local code regulations and check whether a permit is required before you break ground.

Once you’ve measured your patio, plant stakes in the corners and wrap the stakes with string to frame the shape. Use your digging tools to create a level, excavated area for your patio. Most pavers are between 2 and 3 inches thick, so you need to dig down 7 inches or more, depending on how much gravel base you plan to use.
Add 4 inches of paver base, getting it slightly wet to make it more compact. Solidify and level the base with a tamper tool, then add a 1-inch layer of paver sand. Once the area is level, you’re ready to add your paver stones.
Configure your paver pattern one stone at a time. Once you make it to the final pieces, there will likely be some overlap with your borders. Use a hammer and chisel to cut the final stones down to size or consider renting a masonry saw.
Stake your edging to create a solid border for your patio. This ensures that the pavers stay fixed in place over time.
Fill the gaps with paver sand, using a broom and/or leaf blower to make sure all the sand gets wedged into the joints. Then, add water to activate the paver sand and wait for it to set completely per manufacturer instructions.

Once your paver patio is complete, it’s time to sit back, relax, and enjoy your backyard’s new centerpiece! For more DIY projects and backyard makeover tips, read the following blog post:

5 Design Projects to Improve Your Backyard

Featured Image Source: Getty Images – Image Credit: Joanne Dale

Real Estate News & Information • June 15, 2023

Wash. needs 1M new housing units by 2044 to meet demand

by Don Koonce

Washington state needs to keep up the pace of new housing development if it is to meet the needs of its growing population in the next 20 years. According to a new growth management plan released by the Washington State Department of Commerce, the state as a whole will need over 1 million new housing units to meet demand, and King County alone will need 340,000 new units.

These housing figures are based on a recent population projection by the Office of Financial Management, and take into account the relative affordability of the homes that need to be built. Over half of the new homes will need to be affordable for people making less than 50% of area median income (AMI) — about $45,300 for a single person.

Additionally, the state will need to add 91,000 units of emergency housing including shelter beds and permanent supportive housing for those who do not have access to more stable long-term housing options.

In the last decade, Washington has added an average of about 35,000 housing units per year. To meet the upcoming demand, the state will have to increase that to around 55,000 units per year, for the next 20 years. King County will need to add about 17,000 units a year to meet demand in the area.

While more housing is necessary for the state’s growing population, greater access to funding for subsidized rentals and homeownership opportunities is also needed for Washington’s middle- and lower-income residents. Currently, about three in 10 households are cost-burdened, meaning they spend more than 30% of their income on housing.

In King County, the median price for a single-family home or townhouse is around $800,000. To meet the needs of its growing population, the county will need 60,000 shelter beds, 179,000 homes for people making less than 50% of AMI, and 95,000 homes for people making up to 120% of AMI, about $109,000 for a single person.

The population projection suggests that Seattle and Bellevue will both see significant growth in the coming decades. Based on the forecast, Seattle will need 112,000 new housing units and Bellevue will need around 35,000.

While these figures are significant, they are also based only on the “medium” projection for population growth in the state. If growth instead aligns with the highest projections, King County would need to add more than 600,000 housing units by 2044.

State leadership seems focused on how to meet this challenge. The governor’s office has already pushed for municipalities to allow more duplexes, fourplexes and six-plexes in single-family neighborhoods, while many cities are planning for increased moderate-density housing, such as more apartments and condominiums. The state certainly has a bustling future in store; the challenge is planning ahead for it.

Information for this article was pulled from 425Business and the Seattle Times.

Real Estate News & Information • June 13, 2023

Seattle apartments are getting smaller

by Don Koonce

It’s not your imagination—the phenomenon of “shrinkflation” is hitting everywhere, even apartments. A recent report from RentCafe indicates that new apartments are getting smaller across the country, with Seattle leading the way.

In the past 10 years, the average apartment has shrunk by 54 square feet. Seattle tops the list of tiny apartments however, with an average size of just 659 square feet. Part of the reason for this chart-topping shrinkage is that the city is host to a record-number of studio and one-bedroom apartments entering the market. Approximately 82% of new units are studios or one-bedrooms, compared to the national average of 57%.

Even Seattle’s compact studios are getting smaller, with an average square footage of 381 feet — the size of a two-car garage.

Oregon was second in the nation for small apartments, with an average size of 681 square feet, which is 9% smaller than a decade ago.

While apartments are getting smaller, rents in Seattle actually increased last month after five months of decreases. The median rent for a one-bedroom in the city was $1,545, and a two-bedroom was $1,868. That’s a .7% increase from January.

Bellevue saw modest rent increases as well, with a month-over-month increase of .8%, and year-over-year growth of .2%. That put the median rent for one-bedroom apartments at $1,965, and two-bedrooms at $2,183.

Lynnwood had the greatest rent increase in the area, with year-over-year growth of 6.5% thanks to new amenities like the light rail. There, a one-bedroom apartment is going for $1,317, and two-bedrooms are $1,684. Despite Lynnwood’s strong yearly growth, Kirkland currently tops the charts with the highest monthly rent growth of 3.2% in February. That places the median one-bedroom rent at $2,025 and two-bedrooms at $2,204.

With many aspects of the economy and mortgage rates still in flux, it’s hard to predict where rental prices will go from here. But the high demand for housing in our area does point to one likely trend: paying more rent for less space may well be a continuing reality.

This article sourced information from Seattle Met and Connect CRE.

Living • June 8, 2023

6 Natural Cleaning Solutions for Your Home

by Don Koonce

The last thing you want to do when cleaning your home is spread chemicals around; your house won’t be as clean, and it can pose risks for the health of your household. Organic home cleaning products reduce this risk by relying on natural ingredients that can often deliver a deeper cleanse. You can find cleaning solutions like these browsing the aisles at your local grocery store. Here are a few common cleaning methods and how to apply them around your home.

6 Natural Cleaning Solutions for Your Home

1. Clean with Lemons

When life gives you lemons…clean! And then once your home is sparkling clean, make lemonade with the leftovers. Lemons are not only delicious in food and drinks, but their chemical makeup is tailor-made for cleaning your home. Mixing lemon juice and baking soda makes a powerful cleaning solution that can tackle most cleaning chores normally performed with a sponge. When combined with soap, baking soda, and water, lemons can also be an effective degreaser. Find a recipe online and get to cleaning naturally!

7 Tips for Cleaning Your Appliances

2. Use Vinegar to Clean Your Home

Beyond its culinary uses, vinegar is a fantastic cleaning aid for homeowners. Most people know it can clean, deodorize, and eliminate stains, but did you know it can eliminate small pockets of mold growth, too? Homemade cleaning recipes involving vinegar call for an equal-parts distillation with water. Once you’ve created your mix, go to town on the various surfaces throughout your home—bathroom sink, toilet, stovetop, countertops, etc.—and watch the cleaning magic take place. Test your mixture before application to make sure it doesn’t damage your surfaces.

How to Prevent and Deal with Mold

3. Clean with Baking Soda

No kitchen cabinet is complete without a box of baking soda. Run half a cup of baking soda through your drains with hot water periodically to keep them from clogging. Add a few dashes on your sponge to supercharge your scrubbing efforts and save some elbow grease. Let it sit on greasy kitchen pans and pots for a few minutes before doing the dishes and watch the food gunk disappear. It can even polish metal, clean your shower, and absorb unwanted odors throughout your home. It truly is the natural cleaning solution with 1,001 uses.

5 Pet-Friendly House Cleaning Tips

A closeup shot of a man’s arms cleaning his home. He sprays a bottle of cleaning solution on his kitchen countertop and scrubs the surface as the sunlight pours in through the window. He wears yellow rubber gloves and a navy polo shirt.

Image Source: Getty Images – Image Credit: PeopleImages

4. Clean with Salt at Home

Salt is a staple of home life, but it can do more than garnish your meals. Indoors, it can help you with everything from removing coffee and wine stains to quickly cleaning up food spills in the kitchen. Simply sprinkle salt on the areas where food has spilled, let it sit for five minutes, and clean the mess away like magic. Another handy homeowner tip: mix 1 teaspoon of salt with a few drops of water to form a paste that can be used to remove rings left by glasses, mugs, and cups on wood.

5 Ways to Create a Sustainable Kitchen

5. How to Clean with Olive Oil

You’ve drizzled it on your salads and cooked with it, but did you know you can use olive oil to clean your home, too? By combining olive oil, vegetable oil, and a teaspoon of salt, you can quickly whip up a natural, tough-acting cleaning solution that will clean up the most resistant food spills in the kitchen and beyond. It can even polish wood furniture with a recipe of two parts olive oil and vinegar to one part lemon juice. Finally, you can clean your stainless-steel appliances with a little olive oil and a microfiber cloth.

13 Appliance Tips & Hacks for Household Chores

6. Cleaning with Coffee Grounds

They’re not just part of your morning routine; coffee grounds can be one of the most helpful cleaning solutions. Coffee grounds are naturally coarse, making them an effective cleaning agent for wiping away grease and grime without scratching the material underneath. Combine a few scoops of coffee with warm water to clear debris from your pots, pans, and grill grates. Add a little soap to the mixture to get those pots and pans sparkling clean.

7 Tips for Sustainable Living at Home

For more home cleaning tips, plus info on remodeling, home security, and more, visit the Living category of our blog:

Windermere Blog – Living

Featured Image Source: Getty Images – Image Credit: LaylaBird

Living • June 6, 2023

How to Create a Balcony Garden

by Don Koonce

Gardens come in all shapes and sizes. For those who don’t have a flourishing backyard with acres of greenery, you’ve got to make do with the space you have to satisfy your inner green thumb. Creating a balcony garden can bring life to your terrace and give you some healthy options to add into your cooking. By plotting out the space, researching which plants will thrive on your balcony, and gathering the right materials, you’ll set yourself up for gardening success.

How to Create a Balcony Garden

First, consider your space. The amount of sunlight your balcony gets will determine what you’re able to grow and how quickly your garden will grow. Crops like tomatoes and strawberries need lots of sun to grow up healthy, while others like peas and herbs can still thrive in less sunlight. If your balcony is sunlight-deprived, you may need to invest in a grow light to give your plants the light they need.

How to Plant an Herb Garden

What are your goals for your balcony garden? Are you looking to build out your collection of natural herbs or do you want to turn your terrace into your own personal exotic oasis? Whether your motives are culinary or aesthetic, planning out your garden will help you maximize space. Hanging and stack planters allow you to create a vertical garden, which helps save space. Climbing plants like honeysuckle, ivy, ferns, and different varieties of vines are perfectly suited for this kind of garden design. Before hanging any planting pots, hooks, trellises, shelves, or any kind of gardening equipment, check your governing Homeowners Association (HOA) policies to make sure your plans are within the rules.

A young woman replants plants on her balcony garden.

Image Source: Getty Images – Image Credit: AleksandarNakic

Keep Your Plants Healthy

With any garden, your main concern is keeping your plants healthy. This means giving them plenty of water, treating your soil with care, and keeping up with seasonal demands depending on your local climate. If you’re looking to save money on your balcony gardening project, don’t focus your frugal efforts on soil. Soil is the lifeblood of your garden, so it’s important to give it a fresh, nutrient-rich mixture. Once you’ve selected your plants, research their needs to see which potting mix you need to pick up at your local gardening or hardware store. Depending on the chemical makeup of the potting soil, you may not need to fertilize your plants right away.

With a balcony garden, it’s also important to keep your neighbors happy. Put saucers underneath your pots to prevent excess water from dripping onto the neighbors beneath you. This will also cut down on wasted water, one of the main principles of sustainable gardening. Self-watering pots are helpful, especially if you’re not always around to water your plants. They prevent overwatering by metering the amount of water your plants receive, only feeding them when necessary.

You also need to consider how much weight you’re adding to your balcony. Yes, terra cotta pots have that quintessential Tuscan gardening look, but a dozen ceramic pots filled with water-soaked plants might bear more weight on your terrace than it’s prepared for. Look at more lightweight potting alternatives and different soil mixtures than can lighten the load on your balcony.

For more information on making the most out of your garden, read our blog post on urban farming:

A Quick Guide to Urban Farming

Featured Image Source: Getty Images – Image Credit: ibnjaafar

Sellers • June 2, 2023

Selling Your Home: The Final Walkthrough

by Don Koonce

Congratulations, you’ve found a buyer! But before you celebrate, there’s an important part of the closing process you need to pass: the final walkthrough. The final walkthrough isn’t a full-fledged home inspection, but if the buyer finds issues during the process it could complicate things. Your seller duties are still in play here, so be sure to communicate with your agent regarding best practices during these final stages. Let’s take a look at the final walkthrough and how to make sure you pass it with flying colors.

8 Tips for First-Time Home Sellers

What happens during the final walkthrough?

As the name suggests, the walkthrough takes place during the closing process. This is not the time for discussing negotiating terms or buyer contingencies, since those details have already been ironed out at this point. The final walkthrough is a chance for the buyer to make sure they’re getting the house they’re paying for. They’ll examine the property with their real estate agent to verify that the terms of the deal are legit. For example, they’ll make sure that you’ve made the negotiated repairs, that you’re handing the property off to them in its agreed-upon condition, and that no new issues have popped up since it was formally inspected. If the buyer finds issues during their walkthrough, it could delay the closing process and/or hurt your net proceeds from the sale. Worst case scenario, complications discovered during the walkthrough could lead to a buyer backing out of the deal.

What Happens When a Buyer Backs Out of a Real Estate Transaction?

Image Source: Getty Images – Image Credit: FG Trade

Final Walkthrough Checklist

The final walkthrough will take place near closing day. You’ll have time to empty the house and make sure everything about its condition aligns with what’s spelled out in the purchase agreement. No matter how careful you try to be during the moving process, sometimes a wall or trim can get scuffed or scratched when trying to get the couch the last few feet out the door. Accidents happen. Just be sure to repair any damage before you’re fully moved out.

Keep a record of the work you’ve done to make sure your house is being sold as described in the real estate contract. Hold on to all paperwork that shows evidence of the repairs you and the buyer agreed on to verify they have been completed. You and your listing agent will iron out the details regarding which items you intend to take with you, but in general, appliances and other items that are fixed in place stay with the home. If there is something specific that you want to take with you to your new home, that will be a point of negotiation.

Make sure everything is clean and working properly before the buyer conducts their walkthrough. Check your appliances, HVAC, and other home systems including the thermostat, the home security system, and any smart home tech products. For a full moving checklist and a timeline of all tasks leading up to your moving day, visit our Step-By-Step Guide to the Moving Process. This list is also available as an interactive web page and downloadable PDF here:

Moving Checklist and Schedule

Featured Image Source: Getty Images – Image Credit: VioletaStoimenova

SOLD • May 26, 2023

SOLD: Lovable Seward Park bungalow

by Don Koonce

4220 50th Avenue S
Seattle, WA 98118
$750,000*

Beds: 2
Baths: 1
700 sqft
Days on Market: 6
MLS #2061626

Lovable 1930’s bungalow in supreme location just 1 block fr LK WA! Plenty of prized period finishes:Hardwd flrs, coved ceilings & picture rails, frplc flanked by bookcases, blt-ins, crystal doorknobs-the works. Kitch is packed with creative cubbies & nooks, the storage spaces are worthy of applause from hi-end boat builders. Stunning gardens!! Mature maples/fragrant daphnes/quince/ snowbell create a beautiful Arboretum-quality experience. Full basmt w/ great ceil height ezy to finish. Alley access to garage+ guest parking. Gas heat & cooking, expensv bay and dbl windows, PEX plumbing, newer roof, earthquake retrofit. LK WA, BothWays Cafe & Zeek’s Pizza at your doorstep, all other compass points for work or play 1mi or less.

*Listed For: $720,000. Sold for 4.2% over asking.

Buyers • May 25, 2023

Turnkey vs. Fixer-Upper: Pros and Cons

by Don Koonce

The beauty of real estate is that different properties satisfy different needs. Although single-family homes are great for putting down roots, that may not be your motivation for purchasing your next home. If you’re looking to buy a property with the intent of renting it, both turnkey and fixer-upper listings will cross your path during your home search. The main difference between the two is the condition of the property when you buy it. The right one for you depends on your needs as a homeowner and your goals as a landlord.

What is a turnkey property?

Turnkey properties are move-in ready from day one, which means they’re ready for you to rent them out immediately. Whether it’s a new construction home or a recently remodeled listing, these properties are in tip-top shape when they hit the market. Companies that specialize in renovating and selling these properties may also offer property management services, which may appeal to you if you’re looking for a more hands-off approach to managing your investment property.

What does fixer-upper mean in real estate?

Compared to turnkey listings, fixer-uppers are on the opposite end of the investment property spectrum. Buying a fixer-upper means you’re purchasing a home that needs repairs, remodeling, and some major TLC before it’s ready to rent out. These properties are diamonds in the rough; you’re betting on your ability to make high ROI home upgrades that will attract future renters and put money in your pocket.

As an example of turnkey vs. fixer-upper homes, a heterosexual Caucasian couple are remodeling their fixer-upper property. They are re-painting the interior to prepare the property for renters.

Image Source: Getty Images – Image Credit: StefaNikolic

Turnkey vs. Fixer-Upper: Pros and Cons

Turnkey Pros

Because they are move-in ready, turnkey listings have the potential to generate cash flow right away. Without any pending renovations in your way, you can open up the property to renters as soon as you take possession. They’re primed and ready to place in the hands of a property management company, which means you’ll get passive income without having to deal with day-to-day operational tasks. You can also ask the listing agent for permission to use their photos, which can help your rental stand out amongst the competition in your area.

Turnkey Cons

So, what’s the catch? These benefits all come at a cost; turnkey properties typically cost more than fixer-uppers. You’ll pay a premium for the pristine condition and the buttoned-up appearance of these properties, so it’s important to have a strategy to save money for your home purchase. Also, handing off property management duties to a third party means you’ll have less control over the renting process. For more information on whether hiring a property management company is right for you, read the following blog post:

Managing Your Investment Property: DIY vs. Hiring a Professional

Fixer-Upper Pros

Searching for homes in less-than-pristine condition can give you a leg up as a buyer. Fixer-upper homes tend to have less competition from buyers than turnkey properties, since not everyone is willing to take on a major remodeling project. Talk to your agent about how to make the best offer. Given their lessened condition, you can oftentimes get a great deal on these homes with the right strategy. And the best part is, your remodeling efforts will increase the home’s value over time. The more effort you put in, the more the property will be worth, which means higher ROI potential.

Fixer-Upper Cons

Here’s the downside with fixer-uppers: tapping into their potential requires pouring money into the property. Exactly how much you can expect to spend on a fixer-upper varies by location, the size of the home, and the scope of repairs and renovations needed. Tackling some remodeling projects DIY can save you money, but if certain projects require more skilled hands, it may be best to hire a professional. And for all your planning, it’s impossible to predict the future. Projects may go over budget, material costs may rise, and the market may look completely different when you’re ready to rent out your property than it did when you bought it. For more information on buying a fixer-upper and the special financing options available to you, read the following blog post:

Buying a Fixer-Upper

Your real estate agent is your greatest asset in helping you determine which property type is right for you. Connect with a local Windermere agent to see which turnkey and fixer-upper properties are available in your area:

Featured Image Source: Getty Images – Image Credit: hikesterson