Quality Real Estate Investment Tips

Author: BryHarg

Why Use Video to Sell Your Home?

The popularity of videos is growing and buyers love them

Help Your Property Stand Out

When selling a home, it can be a struggle to make it stand out from the crowd. No matter how wonderful your property is, there are many loud and bright advertisements to compete against when you put your home up in online listings.

One selling technique you can try that many don’t think of is getting a professional to shoot a video of your home. With more and more people using smart phone technology, ease of access to video information is greater than ever before. But why should you use video for your home sale?

When you get a video shot of your home, you are instantly offering an up-close and personal look at your property that photography and words cannot provide. The sounds and visuals are much more vivid, and you can run a ’walk-through’ of the property, giving viewers a great feel for the flow of your halls and rooms. Sell my home Texas is a great option if you live there.

It’s a level of closeness that can only be matched by seeing the home in person, only now you can broadcast it to the whole internet. It’s effectively a beautiful window into your home that can be accessed 24 hours a day!

You Can Make the Property Look Its Best

When you use video to depict your home, you can really show off the best angles and views throughout the property. When you engage a professional to shoot your home, they will understand where the light shines through particularly well and which shots are most effective for certain rooms. You can end up with a beautifully tailored video that will have your home shining bright like a star!

While it can be tempting to jump in front of the camera yourself, remember that it is vital to present a ‘blank slate’ with your home onto which buyers can imprint their own life.

You Can Look Like a Professional

By getting the technical aspects of your video right, you can make the charms of your home work within a professional setting, catching the eye of anyone looking to buy real estate. Take your time when choosing who will video your home, and make sure they take extra care with lighting and sound. You don’t want wind to muffle the outdoor shots, and a true professional should have the right gear to manage light throughout the home.

Hiring a professional to video your home may not be the absolute cheapest option, but getting a superbly shot video sequence can enhance your sale prospects greatly.

If you don’t have the equipment or know-how to get a great video of your home, consider talking to a real estate agent who does!

Why Renovating Your Bathroom Can Boost Home Value

The bathroom is one of the most profitable rooms to renovate. However, it can be a huge undertaking, costing unprepared investors thousands of dollars. With potential returns of $4 for every $1 spent, to make the most of this room it’s crucial not to overcapitalise.

Yet, as one of the most expensive renovation projects of a property, those on a budget need to spend strategically to see the return.

The bathroom is one of the most profitable rooms to renovate

Why the bathroom?

Second to the kitchen, the bathroom is the most profitable room to renovate in a property, and therefore should be on every investor’s list.

With potential returns of $4 for every $1 spent, to make the most of this room it’s crucial not to overcapitalise.

Yet, as one of the most expensive renovation projects of a property, those on a budget need to spend strategically to see the return.

While anything beyond a simple cosmetic renovation – which covers painting tiles, replacing the vanity and lighting, as well as new fittings – will cost a sum, budgeting carefully and making astute choices can still bring in a substantial profit.

Of a property’s total renovation budget, a decent portion needs to be dedicated to the bathroom alone.

As a guide allowing 10 to 20 per cent of the total renovation budget to the bathroom renovation would be a good starting point.

For example you can complete a minor bathroom renovation including retiling, new shower screen, new vanity and a new toilet for around $3,000.

If it requires new flooring, tiles, a new bath or shower, then this could stretch up to $8,000, and so, where possible, investors will want to look into options that avoid replacing everything.

Examining the costs involved

To keep costs down and to pull the most from a renovation project, investors need to be looking carefully at their expenditure and expected return. This means having a specific budget.

A bathroom renovation, while it may be a third of the size of a kitchen, may cost the same as a kitchen. For this reason, it is doubly important to watch your outgoings.

When it comes to bathrooms, a good rule of thumb is 1.5 per cent of the property value. Generally, of this figure, 50 per cent is labour and 50 per cent is materials.

Unfortunately, there is little scope for DIY in a bathroom renovation but there are savings to be had. Some ways you can save money include the selection of materials and products, as well as strategic planning for the bathroom fit-out.

Keeping the items and fixtures in place may actually be the most effective option. For instance it may simply be a case of changing tap fittings and handles. You always want to be thinking about the result and whether you have added the wow value or not.

Doing it yourself

While the majority of bathroom labour is best done by a professional, many renovators do consider getting their hands dirty with a spot of tiling.

This can serve to reduce labour costs, but investors need to be honest with themselves about their abilities. If you don’t do a good job, you may actually reduce the value of the renovation.

The other factor to take into account is timing. A professional can usually complete an entire bathroom renovation within seven days. If you are learning as you go it may take much longer and this can affect the bottom line far more than many calculate.

What should you focus on?

Some items immediately curry favour with prospective tenants and buyers, helping to bring in more rent and profit.

One addition that generally adds value, provided the demographics are family orientated, is a bath.

Moreover, shiny surfaces have a higher perceived value than matt or satin surfaces, so you always want to make sure your wall tiles are shiny.

Water-efficient shower heads are also an absolute must, whether for a home or rental property.

Overall it is important to remain emotionally unattached if you are renovating a rental property. Too much time on minor details is a sure-fire way to overcapitalize.

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