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Improvements that Won’t Increase the Value of Your Home

by Melissa Thompson


Preparing to sell your home can be a stressful process.  Often you will find yourself making improvements just for the sake of the sale.  While some of these enhancements may boost the look of your property and make it easier to sell your home, you will be surprised to discover that they do not increase the value of your home.  In fact, some improvements might actually detract from it.  Here is a list of home improvements that do not increase the value of your home:

  1. EXTENSIVE PROFESSIONAL LANDSCAPING

Landscaping choices are a personal preference.If you are going to invest in elaborate landscaping, you should do it for your own enjoyment, because no matter how grand your yard is, it’s not going to bring you big bucks upon resale.

  1. NEW ROOF, GUTTERS, SPRINKLERS OR HVAC

There are certainly buyers in the market who will be looking for homes that have newer features, but they won’t pay more for them.Replacing things that are broken or past their life expectancy is considered home maintenance and not something buyers expect to pay for. Home Improvement vs Home Repairs and Maintenance

  1. SWIMMING POOL AND/OR PERSONAL SPA

While water-related improvements can provide a lot of fun and entertainment for your family, the cost of installing a pool or spa never finds its way back to you. In fact, some buyers will ask that you take the spa with you or won’t purchase a house with a swimming pool.Installing a pool or spa should only be done for your own pleasure.

  1. MAKING DATED IMPROVMENTS

If you think you might be selling your house, you need to be careful about making improvements that are not in style. For example, you might love white appliances in your kitchen, but because these are not currently trendy, potential buyers are not likely to feel the same way. 7 Home Decor Trends for 2020

  1. PAINTING YOUR HOUSE

Painting may be the single most cost-effective improvement you can make before selling your home, but it won’t get you any bang for your buck unless you do the painting yourself. Fresh paint on the exterior or interior of your home absolutely makes the home more saleable, but an appraiser will not give you a credit boost for it.

  1. SOLAR PANELS

The people selling you those solar panels will tell you that they will improve the value of your home and add to your bottom line profit, but it’s not true. You get zero approved value for solar panel installation.

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

Home Décor 101

by Melissa Thompson

Whether you are moving into a new home, or you just want a fresh look for your current home, deciding on your home décor style is the first step toward creating a space that brings you joy.  You must ask yourself what style you like and, especially if you’re going to hire a decorator, you need to be able to put a name to that style. Contemporary, shabby chic, industrial, modern…the list goes on and on. With so many different options it is understandable if you are not familiar with the vocabulary used to describe them.  Here is a handy list of 8 popular home interior design styles along with descriptions to help you decide on the perfect one (or combination of styles) for your home:

  1. BOHEMIAN 

    This popular home and fashion design style reflects a happy-go-lucky lifestyle with the goal of simply following your heart. A bohemian home is often multi-cultural in that it contains globally inspired furniture, art, textiles, and rugs.It’s also common to find vintage pieces from furniture to displays of collections in a bohemian home.It’s an eclectic style that can incorporate items from various other styles. The key to creating a bohemian home is fill it with things you love!

     
  2. CONTEMPORARY

    Contemporary design often gets confused with modern, but they are different. Modern refers to furniture and design that is from an era that has passed. Contemporary is all about the here and now and even looks to the future. Another difference between the two is thatcontemporary design is more fluid than modern.For example, it can include curving lines while modern does not. If you like state-of-the-art materials, glass, and metals, contemporary is the way to go!

     
  3. FRENCH COUNTRY
    This style utilizes warm, earthy colors and worn wooden furnishings with farmhouse inspiration. Natural materials like stone and brick along with rich colors of red and yellow combine to create a French Country space.French Country design often also includes collections of colorful porcelain dishes and luxurious linens and bed coverings. 19 French Country-Style Rooms That Will Take Your Breath Away

     
  4. INDUSTRIAL

    This style draws inspiration from, well, industrial spaces; like a warehouse or an urban loft.It’s common to see things like exposedbrick, concrete, ductwork, and wood in and industrial space. In fact, many homes with industrial design arefound in former industrial buildings. Sparse furniture, high ceilings, metal light fixtures are the markings of a space featuring industrial home décor.

     
  5. MID-CENTURY MODERN
    This style is a throw-back to the styles popular in the mid 1900s; mainly the 1950s and 60s.If you love all things “retro”,you will love mid-century modern design!It also includes elements of minimalism and functionality.Mid-century modern décor creates a neat space utilizing natural shapes and simple fabrics. 30 Mid-Century Modern Living Rooms with a Timeless Appeal

     
  6. MODERN

    The term “modern” is used to describe home design that includes clean lines, basic colors, and materials such as metal, glass, and steel.Simplicity is key in modern décor. The goal is to have a look that is polished and tidy, without a lot of clutter or accessories.

     
  7. SHABBY CHIC

    Inspired by vintage style, shabby chic design incorporates feminine elements that are soft and delicate.  Furnishings in a shabby chic space are distressed or painted/finished to give them an antique-like appearance.  The color palette used for this style includes white, cream and pastels.

     
  8. TRADITIONAL 
    If you like classic details, luxuriant furnishings, and lots of accessories, then traditional design is for you!Dark, finished wood, rich colors, various textures, and curved lines are elements you will find in a home with traditional décor. Most traditional designs include layering of fine fabrics like velvet, silk and brocade, utilizing many patterns and textures. 40 Traditional Designer Rooms

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

Photo credits: Pinterest

Avoid These Deal-Breakers for Home Buyers

by Melissa Thompson


When trying to sell your house, you want to make the best possible impression on potential buyers.  While some buyers will say that they knew a house was right for them the minute they walked in the door, other buyers will tell you they knew immediately that a house was NOT right for them. Sometimes deal-breakers are personal, but often they apply to many and can damage your chances of a profitable sale (or any sale at all).  Avoid these deal-breakers to get the best deal when you sell:

  1. Pests - It seems obvious that people would be turned off by seeing bugs in a home, right?  But sometimes homeowners get used to having “bug problems” and don’t think about how they might negatively influence buyers.  Seeing one or two bugs, like maybe a fly or random little spider, might not be that big of a deal. But if a roach crawls out while people are looking at your house? Forget it.  They are out of there!  If you have any kind of infestation, you need to nip it in the bud before you start showing your house.  13 Best Pest Control Services in Memphis, TN
     
  2. Pets - Just because you love your pets and consider your home very “pet friendly” does not mean other people feel the same way.  There are a myriad of reasons why having pets can hurt your home sale. Sometimes it’s simply that animals make people nervous.  Taking your pets out of the home during showings can solve that problem.  But other things, such as visible food bowls, kitty litter boxes etc. can turn off people who don’t live with animals.  And any kind of pet odors can do a lot of damage as well.  It is a good idea to make sure your house is free of any pet paraphernalia and pet odors before opening it up to buyers.
     
  3. Small/Outdated Kitchens - Big, open kitchens are one of the most desirable features for homebuyers.  If you have a cramped, closed off kitchen, updating it before you put your home on the market will be well worth it.  Not only will you be able to sell it faster, you will get a better price for it and odds are you will likely recoup the money you spent sprucing it up and then some. Best Home Remodels to Get a Higher Sale Price
     
  4. Cheap Upgrades - Poor quality shows.  While you don’t want to spend a ton of money on a house that you are leaving, you also don’t want to hurt your chances of selling it by making cheap upgrades and repairs that are poorly executed.  Unless someone is looking for a “fixer upper”, they are going to lose interest quickly if they see a lot of shoddy upgrades.
     
  5. The Roof - A roof in bad condition will scare away potential buyers quickly.  The idea of buying a house and immediately having to foot the bill for a new roof is not appealing.  If your roof is old or in need of repair/replacement, take care of it before putting your house on the market.  Otherwise, expect to have to lower your asking price.  A new roof will not only improve resale value, it will also boost the curb appeal of your home, both of which will increase your chances of selling and getting the best price possible!

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

Photo Credit: pinterest.com

Increase Your Home Value with these Designer Tips

by Melissa Thompson


When designing and decorating your home, unless you plan on living there forever, it’s important to consider resale value.  Since your home is likely your largest asset, you want to be sure to get the highest return on your investment when you sell it.  So, design upgrades should not only appeal to your aesthetic desires, but should also have a positive impact on resale value.  Here are some tips for renovations that designers have found to be most beneficial in helping houses sell:

  1. Choose a design that makes a room feel bigger than it is.  If you select and place furniture to fit the scale of a room, it will go a long way in making the space feel larger than it actually is.  Even though buyers will know the square footage, the perception of rooms being larger will have a powerful impact. When rooms feel more spacious, buyers see more potential in the home.
     
  2. Stick with tradition.  If you are redesigning a room, don’t feel like you need to get rid of everything you have and purchase all new things. Keep some of the home’s traditional elements. You’re never going to please every potential buyer, but making too many changes can backfire. People like to see homes that stay true to their roots.
     
  3. If you don’t have a walk-in closet in your master bedroom, add one.  A roomy, functional walk-in closet will add value to any home. Buyers see it as a luxury and are always excited to see one.  It might feel like an expensive upgrade, but it is one that will pay off in the long run.
     
  4. Don’t neglect the kitchen.  Of all the rooms in your home, an upgraded kitchen is the one that will get you the best return on investment.  The kitchen is the heart of the home. Even if you don’t love cooking, and order out more than you cook, it’s still used for eating, drinking, and storage.  You don’t even have to do a lot to make your kitchen stand out.  Even small upgrades like new light fixtures and hardware will add value to your home.
     
  5. The more storage your home has, the better. Buyers seek homes that provide a lot of storage space.  You truly can’t have too much!  If your home is lacking in storage, adding some will increase its value.  You may have to be creative, but it will be worth it! 7 Sneaky Ways to Add More Storage All Over Your House
     
  6. Fresh paint makes a huge difference.  You don’t have to make huge changes to make your home more appealing.  A simple, fresh coat of paint can give your home a whole new look and feel.  It’s one of the most cost-effective ways to update your home.  When choosing colors, stick with neutrals because they are a safer choice when selling your home.
     
  7. Be environmentally friendly. Millennials purchasing homes are looking for energy efficient, environmentally friendly options. You will not only reap the benefits of living in a more energy efficient home, but you will impress potential buyers who want to do their part in protecting the environment. 4 Eco-Friendly Upgrades for Your Home
     
  8. Bathrooms get you a lot of bang for your buck.  Second only to kitchens in importance to retail value, an upgraded bathroom is sure to impress potential buyers.  Since they are small spaces, little changes like replacing an outdated vanity, changing light fixtures, and updating hardware can go a long way. 

Whether you plan to be in your home for a long time, or you’re thinking of selling soon, make smart choices with your home design upgrades for your own enjoyment and for a great return on your investment.

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor, Melissa Thompson, and let her help you with all your real estate needs! Give her a call at 901-729-9526 today!

Photo Credit: pinterest.com

Easy Home Updates That Won’t Break the Bank

by Melissa Thompson


Another year is coming to an end and like many people, you may already be thinking about what you are going to do to make next year better.  If home improvement is on your new year’s resolution list, but your budget is already a bit strained, there are a lot of home updates you can do that are inexpensive.  Try these easy upgrades to give your home a fresh look for 2019:

  1. Freshen Up the Front Door

Whenever I am decorating or even just cleaning, I always start with the places that guests will see first.Well, your front door is one of the first things people see when they come to your house, so why not make it as appealing as possible?Perhaps give it a new coat of paint with a color that makes it pop and say “welcome”!Or, if you already like the color of your door, give it a thorough cleaning to make it shine and add a pretty wreath.

  1. Modernize Light Switches and Outlets

If you are still living with the light switches and outlets that the builders put into your house, chances are they were the cheapest ones they could find.And if your home is older, they might not only be “dated” but also kind of faded or yellowed.You might be surprised how much it will brighten up your house to have clean, new switch plates and outlets!

  1. Embellish Mirrors with Frames

A plain sheet of mirror sitting above a sink is, in a word, boring.Take it down and replace it with a mirror with a frame and you will be amazed at the difference it makes! If you don’t want to take down the existing mirror, you can add a frame to it!

  1. Change Up Lighting Fixtures

Every space in your home is impacted by lighting.If you have outdated light fixtures, or you simply don’t like the ones that came with the house, switching them out for new ones is a great way to update your home!

  1. Don’t Like It? Paint It!

A new coat of paint can transform just about any surface!Kitchen cabinets dull and drab? Paint them! Paint stores will allow you to purchase samples so that you can try different colors before choosing one.Whether you decided to paint the walls of a room or just some accents like cabinets or furniture, a change in color can give things a whole new aesthetic.

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor, Melissa Thompson, and let her help you with all your real estate needs. Give her a call at 901-729-9526 today!

Photo Credit: freshhome.com

7 Ways To Prepare Your Home For An Appraisal

by Melissa Hayes Thompson

While many owners consider a 
home appraisal as simply another step in the process of selling or refinancing their homes, homeowners who prep their homes for the appraisal often fair better than those who do nothing.

Here are seven ways to prepare your home for the best appraisal possible:

1. Give the appraiser a list of recent sales. Ask your real estate agent to make a list of properties similar to yours that have recently sold in your neighborhood. Be sure to include the sales price. This is one less thing the appraiser has to do.

2. Supply a copy of your home’s blueprint. This will help to verify room measurements and lot size. Also, provide the date your home was built.

3. Provide a list of improvements. Make a list of improvements you’ve made to your property since you bought it. Include the dates the improvements were made. Be sure to list all improvements such as adding a room, updating your kitchen or bathroom, pouring a patio or replacing a roof.

4. Make it easy for your appraiser to see the entire property. Do you have an attic or crawl space that’s hard to access? Do whatever is necessary to make it easy for the appraiser to get to those hard to reach spaces.

5. Spruce it up. A clean home makes a good impression. Trip the lawn, clean the garage, and make minor repairs both inside and out.

6. Point out amenities. Do you have a sprinkler or security system, built-in vacuum, or other special features that aren’t obvious? Give a list of these amenities to your appraiser.

7. Provide a copy of your most recent property tax assessment. The assessed value of your home is what your taxing authority (your county, city or town) uses to determine how much property tax is due. The period between assessments varies by jurisdiction. Some taxing authorities might conduct full assessments every six years, for instance, but update their records annually to account for new homes or building improvements. Contact your county, city or town to get the most recent tax assessment for your property.

 

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Melissa Thompson
Crye-Leike Realtors
6525 N Quail Hollow Road
Memphis TN 38120
(901) 729-9526
(901) 756-8900
Fax: (901) 435-0620