April 2018

Help clients be more resale savvy

For many homeowners, one of the benefits of owning — and often a strong motivation for buying in the first place — is the freedom of being able to do whatever they want with the living space.

But with great freedom comes great responsibility — at least if an owner is planning to sell soon. In that case, they may want to put their home's resale value before their personal preferences when choosing home improvement projects.

Here are three tips to help your clients pick renovations that could really pay off when it comes time to hang up the "For Sale" sign:

1

Explore how in-home technology can influence buyers.
Access the Bank of America 2018 Homebuyer Insights Report® to find out how consumers are turning to technology in their everyday lives — including when buying a home.

2

Understand the demographics of the neighborhood.
If your client's neighborhood attracts tech-oriented, environmentally conscious millennials, how about installing a smart home lighting system and energy-efficient appliances?

3

Opt for simple, functional upgrades over designer fads.
What's hot today may leave a potential buyer cold a few years from now. Focus on renovations that will stand the test of time such as minor kitchen or bathroom remodels and "curb appeal" exterior projects.

 

The bottom line: All renovations are not created equal, so encourage clients to spend time researching their planned improvements carefully. Contact a local lending specialist today to learn about financing options.

More from this month's issue