Buying and selling a property comes down to value, and every person involved wants to get the most out of their money. While damage to a property is unfortunate, the next step is often the most critical - choosing the best home components to upgrade can make or break a sale.
A home inspection will help identify any problems with a property, both before, during and after a real estate transaction. Once a hazard has been spotted, a homeowner has to decide how to proceed. Making the right decision will help increase the property's value, and there are some home remodeling trends in 2013 that are gaining popularity.
Summer is a great time to renovate
Home improvements have been popular this year, and fixing a residential problem may inspire a number of people to make upgrades. In fact, younger people are more likely to plan a home improvement, according to the Zillow Digs Summer Home Improvement Trend and Spending Survey.
The study found that 71 percent of 18 to 34 year-olds are likely to plan a home improvement, while homes with children were 65 percent likely, which was 8 percent higher than homes without children. When planning a project or getting ready to sell, a homeowner should think about what appeals to these demographics.
Over the summer, people were focused on outdoor upgrades and more glass inside the home, such as shower doors and tiles, Zillow noted. A property inspection may find damage to a deck or other exterior structures, and when fixing those issues an owner should focus on creating a comfortable, natural-feeling backyard, typically with more stone.
Homeowners often encounter water damage in bathrooms, and when replacing affected components an emphasis should be placed on a light, open feel. Since glass surfaces are a growing trend, according to Zillow, using open wall space to display tiles may increase a home's value.
A home inspection can find a number of problems within a property, and homeowners can turn a negative into a positive by upgrading damaged areas into new and attractive spaces. Renovations in line with 2013's most popular trends may provide a boost to equity, as well.
Bathrooms and kitchens a priority
The 2013 Houzz and Home survey, conducted by remodeling website Houzz, reported that bathrooms and kitchens were at the top of many homeowner's lists, and kitchens were responsible for the most amount of money spent.
These two rooms can be common problem areas, and if a home inspection finds damage, upgrading might be a smart decision. Moreover, the study found that 28 percent of respondents were planning a bathroom renovation, while 23 percent said a kitchen remodel was in their future.
In addition, kitchens are a primary focus. High-end renovations averaged $54,942, but not all changes were that costly, according to Houzz. Instead, low-end upgrades averaged $7,133. More people were interested in this part of a home, which makes it a priority when thinking about re-sale value.
Think about low-maintenance
A number of home problems arise out of poor maintenance. Therefore, a homeowner might want to think about adding some easy-to-manage fixes if a home inspection identifies a safety hazard.
For example, maintenance-free siding can improve equity, and it requires less attention than other types, according to HouseLogic. It might be slightly more costly, but it offers a high return on investment - making it a smart decision.
More homebuyers are looking for lower monthly bills. A home's energy use factors directly into this, and installing a programmable thermostat or sprucing up the attic's insulation will help attract attention during a sale. Placing energy meters on the wall can help track usage, HouseLogic noted. A homeowner can make changes quickly with the real-time information these devices provide.
Overall, the findings of a property inspection don't have to upset a homeowner. Instead, any fixes offer an ideal opportunity to make smart renovations and improve a house's value.