Investing in a Foreclosure, Jacksonville? Doors Are a Top ROI Booster.
August 19, 2011
Savvy investors and first-time home buyers increasingly are turning to foreclosed homes in Jacksonville. Doors, windows and other items often need repairing or replacing to make these homes livable and sellable. Because a home’s entryway is one of its top first-impression selling points, you’ll want to make sure yours makes a great showing.
Homes go into foreclosure because owners can’t or won’t make the payments. And if they’re unable or unwilling to make mortgage payments, they’re likely not paying a whole lot of attention to maintaining the home. Thus, foreclosures typically come with lots of work and TLC needed to restore its livability. With a few smart moves, investors and first-time buyers can make a profit or settle into a great starter home without breaking the bank.
The McMansions of the 1990s and early 2000s are far out of fashion today as home buyers seek to downsize and simplify their finances and their lives. They’re looking for smaller, more practical yet attractive abodes. So, rather than pouring thousands of dollars into upgrades, know that spending just a $100 fixing up a half-bath can add $300 to the resale price – a significant ROI percentagewise.
If you’re considering buying a foreclosure, Dream Doors Jacksonville has a few tips. First, tour the neighborhood and any open houses nearby. Introduce yourself to the neighbors and get a feel for what nearby houses for sale are like. If your foreclosure purchase will be an investment property, you’ll want it to stand out from the crowd, but not in an overly extravagant way.
Once you’ve made the purchase, focus your rehab dollars on the bathrooms and kitchens – the top rooms that potential buyers look at. A thorough cleaning and a fresh coat of paint are relatively inexpensive ways to make a room feel brand new. Consider large floor tiles for small rooms and foyers to lend an upscale feel. But opt for less expensive laminate flooring in larger rooms.
Put a beautiful finishing touch on your new home or investment home with a door makeover by Dream Doors, Jacksonville’s door specialists. A recent national study concluded that an attractive front entrance can boost a home’s curb appeal and increase its perceived market value by an average 6.6 percent – an average equal value of as much as five times the cost of the doors themselves. Now, that’s a great ROI.
Call Dream Doors at 904-880-7778 or stop by our Mandarin area showroom to choose your home’s new entryway today.