PDX Renovations

Tag: sell home quickly

  • Out of State Rental

    So you bought a rental house, or two for an investment or decided to move out of state and instead of selling the home you once lived in, you decided to rent it out. Then you moved out of state, perhaps to retire or make a career change, at any rate you now have to worry about renters. Now you have out of state rentals.

    Owning an out of state rental property can be extremely costly. Sometimes travel is necessary, unless you pay a costly management company. As we all know, renters come and go and it’s difficult to find a good one who wants to rent for more than a year. 70% of renters don’t stay more than a year as they have goals and aspirations of their own, or perhaps they are just at a temporary job or not sure what the future holds for them, nevertheless, they won’t stay forever, which means you are constantly working. Working on a home you never plan to live in again. Is it really worth it? And if you moved away to “retire” and you still own that rental home elsewhere, you are still tied down. No one wants to be tied down while retired.

    Rentals also need constant repairs, yard-work, updating and TLC, which is another reason you will remain at your renter’s beck and call. Even a newer home can have problems and need maintenance upkeep.

    Traveling back and forth to your rental can be a drain on your bank account, along with time taken away from other things, like family, hobbies and fun travel. Some things to think about when thinking of selling your out of state rental home~~ you’ll save time and money and have peace of mind, along with cashing out that equity that you may need for more important things.

    If you live out of state and are thinking of selling, contact us today or fill out our sell fast form at https://patient-liger-dev.10web.site/sell-house-quickly/

  • Costly Home Improvement…the real story

    When you decide to sell your home, one of the first thoughts that comes to mind is how to fix it up in order to maximize its dollar value. Of course, such an endeavor can encompass a variety of home improvements, from planting new shrubbery to installing new hardwood floors. Whatever the project, expenses can add up — quickly. The general rule of thumb is to only invest in home improvements that will add at least twice their cost to your home’s value. But the reality is, you often don’t get much bang for your buck: the average return on your remodeling investment is usually 20 or 30 percent less than you spend. And that’s to say nothing of the missteps homeowners make in their efforts to ready a home for sale. To wit, here are some common pitfalls homeowners find themselves in when attempting to improve their home for resale:

    -Trying to “add more space,” such as converting a garage into a living room. This can make a space seem incongruous with the rest of the house, and the chances of recouping the cost are minimal.

    -Destroying period details (often unknowingly) that may have real value. Pulling up ‘70s-era carpeting is one thing, but removing a circa-1900 bannister because it is showing wear also removes what many would deem a treasure.

    -The kitchen remodel. As many experts will attest, the kitchen is the single biggest selling point in a home. With that in mind, sellers often go all-in on a kitchen remodel, which can easily run as high as $50,000 or more. Yet, a fully remodeled kitchen usually earns 80 percent of its money back, making it one of the worst investments for home sellers.

    The above doesn’t even take into account the headaches inherent with any major (or minor, for that matter) home improvement project. The inconvenience, delays, threat of budget overruns, and questions of workmanship can all turn the most well-intentioned of projects into much more than you bargained for. When you take a look at the factors involved, it may cause you to think twice before diving into the process of costly repairs and consider selling your home as-is in a fast cash sale.

    Do you have a house, lot or land to sell. Fill out our sell fast form and get a Cash offer within 1 hour of us viewing the property.

  • 4 Challenges Widows Face in Keeping a House

    Women continue to outlive men in our society. Faced with less income, some widows move to more manageable housing situations but decide to keep the house and rent it out as a source of monthly income. But is this a good decision?

    This post reviews the challenges widows face in keeping a house and why a decision to sell the house makes better sense.

    1. It’s Expensive

    Just getting a property ready to rent can be an expensive proposition. Everything needs to be in working order, cleaned, and freshly painted at a minimum. Other items needing attention may require a greater investment. Services like landscaping need to be considered if the property is to hold its value (don’t expect the tenants to keep it in the shape you expect). Marketing the property, running ads, and running background checks on applicants all cost money. In short, the initial outlay of capital can be great.

    2. It Requires Cash Flow

    The landlord business requires a good, steady stream of expendable cash flow. Keeping up with the costs of repairs and maintenance can be expensive. Then, there are the problems of abusive tenants, unauthorized pets, long-term guests, and other factors that add to wear and tear greater than might be expected.

    In cases involving serious property damage, repairs and renovations can be quite expensive.

    All the above costs continue to add up, resulting in far less monthly income than previously anticipated. The fact is that most rentals make money when they sell; profiting on a month-to-month basis is a rare luxury.

    3. It’s Hard to Do

    Rentals demand a lot of time and effort from landlords. For example, tenants consider household chores like fixing a light switch of a leaky faucet that homeowners take for granted as the responsibility of the landlord. Without a man around the house, who is going to take care of these tasks? More than likely, a widow is going to have to rely on the services of a handyman, and that just adds to the expenses already discussed above.

    Other areas such as advertising the rental, screening tenants, and showing the property require time. Alternatively, one can hire the services of a management firm, but that cuts into overall profits, too.

    4. The Income is Not Always Reliable

    Few landlords are fortunate to have long-term tenants. Turnover in the rental market is frequent. Each time occupants leave, there is a period of a vacancy during which no income is realized, and added funds are spent to prepare the house for the next renter. Idle rentals can deplete needed landlord cash flow in a hurry.

    Rather than face the above challenges and take the added financial risks, a widow may be better served financially by selling the house. The income from the home’s equity could be invested in an instrument like an annuity which could make up for less monthly income in a stable and no-risk manner.

    Selling the home for cash is a good way to avoid costs associated with preparing the property for the market—repairs, renovations, and the like—real estate fees and commissions. A cash house sale can take place very quickly, freeing up equity and adding to increased monthly income now when it is needed.

    Do you think a widow should try to keep a house as a rental?

    Do you have a piece of property (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property.