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Archive for February, 2021

Lavallette Real Estate Rentals Amenities that are Worth the Expense

Posted on: February 28th, 2021 by admin

Lavallette Real Estate Rentals in white text on shaded black rectangle over a picture of a two-story white home with a pool

A majority of the owners of rental properties decided to purchase the home as an investment opportunity. A much smaller portion bought the house for their own use and rent it out to assist with the cost. No matter which position you are in, the issue of competition is a looming shadow over all owners’ heads. In a saturated market like the Lavallette real estate market, the homes with the best value are rented the most often and most reliably. Meaning, if your home does not have the conveniences renters are looking for, your home will be passed over again and again. Low rental numbers are the enemy of every rental property owner. Thankfully, there are many steps you can take to attract as many renters as possible. As always, Birchler Realtors is here for all your Lavallette real estate rental needs.

Acknowledge Why People go on Vacation

One of the most important pieces of information for a rental property owner to keep in mind is why people go on vacation. The answer is to rest and take a break from day-to-day chores. The best way to allow renters to unwind is to provide as many conveniences as possible. Rental property owners can increase their rental cost with each amenity they add. The better quality the amenity, the more the rent can be raised. To a degree of course. It is also possible to price your home out of the market by overdoing upgrades and needing to charge more for rent than the average vacationer can pay. One way for you, as an owner, to decide on which additions or upgrades to add is to think about what you enjoy on vacation yourself. If you enjoy it, it is likely a renter will enjoy it as well.

Lavallette Real Estate Rentals Need Conveniences

One way to maximize a vacationer’s relaxation level is to provide many, appropriate conveniences. By appropriate, we mean conveniences that are fitting for a beach house. Items as small as beach badges to something as large as an outdoor shower are all relevant to making a vacation more enjoyable. More convenient often means easier which means, on vacation at least, more enjoyable. Obvious conveniences like common household appliances are a must. Neglecting to upgrade the washer and dryer to larger machines or machines of higher quality that can withstand greater than average use, can end up costing an owner much more money in the long run. Some ideas of other amenities that are suitable for a beach house are providing beach chairs, bicycles, air conditioning, and ceiling fans. Large ticket items that can be extremely attractive to renters are things like a pool, hot tub, or spa.

Alternate Upgrades to Consider

Depending on the location of the rental property, certain other upgrades may be worth a consideration. Providing renters with top-quality linens and comfortable furniture can be well worth their purchase cost. Along with items like these come adjectives like luxurious, deluxe, and plush. Other amenities that are eye-catching to vacationers fall in the technology category. Providing wi-fi, setting the house up with as many smart items as is appropriate, and selecting high quality electronics like TVs and sound systems. People want to feel spoiled and well taken care of while on vacation. Giving them things that are on another level than the things they have in their own homes is what people are looking for. Renters don’t want to watch TV on one that is smaller and a lower visual quality than what they watch every day. Investing in exceptional electronics will prove worth the expense.

Lavallette Real Estate Renters are Looking for Value

Value means relative worth. Working with our realtors, the right amount to charge for rent can be determined by a number of factors. The top two are location and amenities. For owners who already own a home, there isn’t anything you can do about the location now. However, there is always an opportunity to make upgrades to the rental property to improve the value. While many big-ticket items can scare away some property owners, others understand where to invest their money to obtain the highest pay-back.  Some upgrades are costly, but don’t attract more renters and are therefore, not valuable. Other beach-friendly, high-quality items will be a source or revenue for years.

Lavallette Real Estate Information on Home Inspections

Posted on: February 1st, 2021 by admin

Home inspections are not required for the sale of a home. It is something, however, that is very much recommended. Licensed home inspectors can examine every inch of a home in an unbiased, professional manner and make a determination on the condition. This information is very important for a buyer. Depending on the contract, a buyer may use the home inspector’s findings to negotiate a lower price. With the bargaining leverage a home inspection can give a buyer, it is easy to understand why an inspection should be done by a third-party inspector. This ensures a fair and just judgement on the home and its condition. A home inspector is required to be licensed and it takes a fair amount of education to become one because they need to be adept in a number of areas. This month we’ll discuss why home inspections are important for every Lavallette real estate sale.

Why an Appraisal Isn’t Enough

Lavallette real estate home inspector wearing red plaid shirt with one hand held up by mouth, a white safety helmet, and carrying and looking at a clipboardAn inspection is different than an appraisal. We covered appraisals a few months ago – you can click here to read that blog.  An appraisal simply evaluates the value of the building and property and is required by a lender. A home inspection looks at the functionality, safety, and condition of all parts of the home. The goal of a home inspection should be to learn as much as possible about the property being purchased. Where an appraisal may compare this home to other homes in the area, an inspection is specific to every home. The simplest way to think of it is that appraisals are concerned with the money and a home inspection is focused on the structure. An appraisal protects the money the lender is loaning. A home inspection can protect a homeowner from potentially making a large financial mistake or from being taken advantage of.

A Home Inspection Typically Happens Late in a Lavallette Real Estate Sale

Occasionally, a seller may choose to have their own home inspection done prior to putting their house on the market. This gives them a good idea of what repairs may need to be made. They then have a few options. First, they can choose to list the house as-is knowing these damages may come into play when negotiating the selling price. Second, they could list the house without any improvements and put an “as-is” clause in the contract releasing them from the responsibility. Third, and on the other hand, they can opt to fix what needs to be fixed and possibly raise the asking price.

This, however, is rare. More commonly, a home inspection takes place as soon as the home is under contract. The timing makes it crucial to review the entire contract closely with your Lavallette real estate agent. Before signing it, it is important to look for fine print or clauses that may release the seller from making any repairs prior to the sale being final. One thing to make sure is there is a “due diligence” contingency. This defines the time period the buyer has to find and contact an inspector, schedule the inspection, receive the inspection, and decide what to do with the information. An average amount of time is usually between one to two weeks.

Final Thoughts on Home Inspections

From a buyer standpoint, there should always be an inspection. Here are a few final key points to take away about home inspections:

  • If you are a buyer, when you contact an independent licensed home inspector, make sure it is ok for you to be present during the inspection. This may seem like a waste of time if nothing major is uncovered. But, if there is something that could potentially negate the sale, it is a good idea to see it with your own eyes.
  • It is good advice to be wary of sellers willing to offer money off the sale price if the buyer agrees to purchase the property without an inspection. There may be a perfectly innocent reason for this, but this should be considered a red flag and be looked into further.
  • An inspection can find things a common homeowner or layman can’t. In addition, there are parts of a home that are almost impossible to view without special tools and safety equipment. Just looking at a house with a naked eye isn’t going to reveal potential issues like a professional home inspection can.
  • Not everything about an inspection will be catastrophic. There may be items in the report pointing out things as simple as hot and cold faucets being reversed on a sink. The big things, however, are what are really important.