THE APPRAISAL PROCESS
Whether you’re buying a new house, selling a house or refinancing an existing mortgage, a home appraisal is a key component of each transaction. Understanding the appraisal process and how it impacts your home’s value is extremely important. The more you understand, the smoother the transaction will be. WHAT IS A HOME APPRAISAL AND WHY IS IT IMPORTANT? A home appraisal is an independent and impartial analysis of a home and its value, and are often a key contingency in contracts. Therefore, regardless of your role, appraisals are an important piece for all parties involved in the transaction: the lender, homebuyer, seller, and homeowner. For the Lender: Appraisals are in place to protect the lender's interests, assuring them that they won’t lend a borrower more than a property is worth. For the Homebuyer: An appraisal is important to the buyer because it provides proof that the property has been fairly priced, and will hopefully appraise for at least the offer price they submitted to the seller. If the appraisal comes in at or above the contract price, the transaction proceeds as planned. If the appraisal comes in lower than their offer, it can delay or derail the transaction. The buyer will have to renegotiate the price with the seller, as the lender won't lend a buyer more than the home is worth. For the Seller: And likewise, the appraisal is important to the seller because it tells them how much their home is worth (the fair market value of their property) and if they priced their home correctly. A low appraisal, if accurate, will likely mean the seller has to renegotiate with the buyer to either drop their price to the appraised value or see if the buyer is willing to pay the difference out-of-pocket. If priced too low, the seller may not recover all the equity they have acquired while owning the property, essentially leaving money on the table. For the Refinancing Homeowner: If a homeowner is refinancing a conventional mortgage, a low appraisal can prevent them from doing so. The home must appraise at or above the amount needed to refinance for the loan to be approved. PREPARING FOR A SUCCESSFUL HOME APPRAISAL As the seller, it is imperative that you prepare for a successful appraisal. To make a good first impression, you must show the appraiser that you have a well-maintained home. If an appraiser sees a house that looks junky or unkempt, they’ll have reason to believe that the house itself hasn’t had proper maintenance, which would lower the value of the property. Although appraisers are required to follow strict regulations, much of their job is subjective. There are a few things you can do to help increase your home appraisal value: Curb Appeal: Be sure the front of the house is neat and tidy. Pull weeds, mow the lawn, trim the hedges, edge the grass, plant some flowers, brush away cobwebs, and clear away leaves and debris. While you can’t necessarily put a price on curb appeal through quantitative appraisal methods, appraisers do take it into account qualitatively when reconciling the final value. Don’t water the lawn or run the sprinklers right before the appraisal, as appraisers will need to measure around the outside of your house. Touch Up Exterior Paint: Be sure the paint looks nice and clean. Appraisers will factor peeling paint into their evaluation, especially if they are doing an FHA mortgage appraisal. Declutter/Deep Clean/Stage: Declutter, deep clean, and stage each room to highlight the unique features that may elevate its value, such as a striking fireplace, crown molding or imported tiles. Repairs: Even minor repairs can make a huge difference, as an appraiser may devalue your home if it appears the home hasn’t received adequate maintenance. Go through each room and fix items, such as drippy faucets, broken windows, faulty locks or squeaky doors. Privacy During Appraisal: The appraiser will need space to take measurements and photos without any disruptions or distractions. Therefore, it’s best to take young children and pets out during the appraisal process. Your agent may be present if the appraiser has any questions about your home. Renovations: Compile a list of upgrades you have made to the home, both aesthetic and functional, along with the invoices and warranties. This will help the appraiser see the extra value you have added to the home, and just may help them justify their final appraised value of the property. HOW PROPERTY VALUES ARE DETERMINED During the home appraisal process, a qualified appraiser will conduct a thorough inspection of the property, inside and out, to assess how the property compares to similar properties in the area. They will document your home’s age, construction quality, the integrity of your property’s roof and foundation, and even the health of your gutters and siding. They will study the floorplan, number of rooms, assess if there is an attic, basement or crawlspace, and even the size of your driveway. The appraiser will measure and photograph each room, and the lot the property sits on. External factors like your home’s proximity to good schools, community centers, and other conveniences are considered as well. Housing trends, neighborhood demographics, and how the home fits into the neighborhood also help to determine the property’s appraisal value. The appraisal can take from 30 minutes to three hours. Once the appraiser has all the information they need, they will write up their findings in the Uniform Residential Appraisal Report form and will then send the completed report to the buyer’s lender. WHEN A HOME FAILS TO APPRAISE Typically, homes will appraise at or above the contract value 80%-90% of the time, depending on the market. But if the appraisal comes back lower than expected, there are a few reasons it could have failed to appraise: Contract Price is Over Market Value: In rising real estate markets, it’s common for buyers to compete for a house and drive up the price above market value. At that point, the biggest mistake sellers make is assuming that the buyer will bring extra cash to the table as needed. This is why pricing your house correctly from the start is key. Appraiser Finds Issues Impacting Value: In some cases, an appraiser will identify an issue with the property that must be factored into the appraisal. For example, a room addition without a permit or repairs that are required to be corrected before a house can appraise. An Inexperienced Appraiser: There are a lot of factors that go into appraising a property accurately. "Geographic competency" or an appraiser's knowledge of the local area can make a big difference in whether an appraisal reaches true market value of a home. CAN YOU CHALLENGE A LOW APPRAISAL? If the appraisal does come back lower than you anticipate, you may have a few options: Negotiate: Between a down payment and closing costs, the buyer may not be able to afford the difference between what their lender will cover in a mortgage and their offer price. In this case, the seller may have to reduce the asking price to match the appraisal or meet somewhere in the middle, where ideally, both parties find a happy compromise to save the sale. Submit a Reconsideration of Value: The challenge to the appraised value has to originate from the lender, and better yet if you can bring evidence to the table, then you can submit what’s called a reconsideration of value to the appraiser. For example, there are two identical homes in the same location but the appraiser pulled the lower value of the two to appraise your home. Turns out one of them was a divorce sale and that’s the only reason it sold for less. Then, you might have a case that would prompt an ethical appraiser to own up to the mistake and modify their report. Order a Second Appraisal: A second opinion could lead to a valuation that’s closer to the buyer’s offer price, but it might require the buyer to secure a different lender. If the seller is pushing for a second opinion, the seller would have to pay for it. When everything goes smoothly, the home appraisal is just another box to check on the closing checklist. Regardless of which situation you encounter in your home buying, selling, or refinancing experience, a basic understanding of how the appraisal process functions can only work in your favor, especially if you're buying a home for the first time.
IS YOUR HOME READY TO SELL?
Choosing to sell your home is one of those crucial decisions that will have a lasting impact on your journey to financial independence. Whether you’ve sold many homes or are considering selling your first, there are many factors you need to know before putting your house on the market. Your time is valuable and your goal is to get your house sold for the highest price in the least amount of time. Selling a home can be inconvenient for your family, create stress and anxiety, and lead to thoughts of uncertainty. These feelings can be minimized if well-thought-out decisions are made, and proper preparation is taken along the way. Whether you are relocating for work, moving to a more desirable neighborhood, making room for a growing family or downsizing, you need to take the proper steps to ensure that your home is ready to sell. EXPERIENCE MATTERS: HIRE SKILLED PROFESSIONALS Often times the most overlooked step when selling a home is the importance of hiring experienced real estate professionals. By partnering with a skilled agent, sellers have the advantage of working with a professional who has expertise in promoting homes, getting your home sold for the most money in the shortest amount of time, and with the least possible inconvenience to you. Homeowners should interview a minimum of 2-3 prospective realtors, as well as other potential team members (i.e., home inspector, handyman/painter, landscaper, interior home stager, photographer, and a closing attorney) to ensure you are choosing the best team of professionals possible. Understandably, giving away a portion of your profits after a home sale can seem frustrating, but consider how much more it can cost you by not allowing these specialists to help you sell your home. TIMING MATTERS: WHEN TO LIST YOUR HOME Deciding when to sell your home is the next most important step. Although experts may say the peak season for selling a home in most housing markets across the country is typically during the spring, you must be sure that you choose a time that is most convenient for your individual situation. There are some strategies that you can put into action to help sell your home regardless of the season or current economic conditions that are out of your control. If you are more flexible in your timing, research your local housing market. Find out how many houses are currently on the market in your area and the average number of days they have been listed. It’s also helpful to look at comparable homes in your neighborhood to get a general idea of what the competition looks like. In addition, it’s important to evaluate the pros and cons of each selling time frame, and to remember that every real estate market is different. APPEARANCE MATTERS: PREPARING YOUR HOME Selling a home is not a simple process, and often a huge undertaking. However, it’s crucial that you make a good first impression for potential buyers. If you don’t make the effort to create an appealing home, it can lead to a poor first impression and can cost you thousands of dollars in the long run. Take the extra time and energy to prepare your home, you’ll be glad you did. Most buyers today will pay a premium for "turn-key" homes. They are not, for the most part, paying the big money for "fix-uppers". Pre-Listing Inspection: Before listing your home, it is a good idea to have a professional home inspector perform a pre-listing inspection. A buyer will likely make their offer contingent on an acceptable home inspection. By completing a pre-listing inspection, you can address reported issues prior to putting your home on the market. Be sure to obtain a detailed report, as well as pictures relating to anything they note in their findings. In addition, consider inspections for radon, pests, chimney, septic, and well water. Curb Appeal: Homebuyers often make snap judgments based simply on a home’s exterior, so curb appeal is very important. Start by cutting the grass, trimming the hedges, and clearing away any clutter. Consider replacing house numbers, painting the front door, planting some flowers or installing a new porch light. While significant landscaping updates don’t play a major role in a buyer’s decision- making process, it does help to avoid anything that could detract from a positive first impression. Repairs and Renovations: Take care of all those pesky repairs you’ve been procrastinating. Cracked window sills and unsightly holes in the wall can be a deal-breaker. And, while kitchens and bathrooms can increase the value of a home, you won’t get a large return-on-investment if you do a major renovation just before selling. Minor renovations, however, may help you sell your home for a higher price. New countertops or appliances may be just the kind of incentive you need to attract a buyer. In addition, one of the easiest and most cost-effective updates you can make to your home is to apply a fresh coat of neutral paint. Neutral colors also help a property stand out in online photographs, which is where most potential buyers will get their first impression of your property. Clean and Decluttered: Tidying up is a good first step, but consider hiring a regular housekeeper while your home is on the market. Tossing dirty laundry in the closet and vacuuming the floors is just not enough anymore. This gives you more time to focus on your family and life, but still ensures your home is ready to show. In addition, declutter by removing personalized photos, memorabilia, and other knickknacks. Buyers want to envision how various spaces could be used in different ways to meet their lifestyle needs and desires. Staged: Staging your home will highlight your home’s best features and compensate for its shortcomings. An un-staged home will pale in comparison to others on the market. There are many DIY simple staging tips that you can try, or again, consider hiring a professional who has the eye and training to stage your home successfully. PRICE MATTERS: SET A REASONABLE LISTING PRICE Pricing your home correctly from the start is extremely important. Avoid making emotional decisions, as the first few weeks of your listing are critical to achieving your goals, and buyers will swarm to a well-priced listing. Your house is competing against similar listings to find one of those buyers. If you live in a “hot” market, there are more buyers than sellers and prices are likely being driven up by that demand. You can often price your house more aggressively as long as you stick within reasonable price limits. In a "cold" market, buyers tend to be more selective and pricing usually needs to be at or slightly below market value to attract an offer. Don’t Pad the Bill: Once you and your agent have priced your home, resist the temptation to add the costs of sale (commission, transfer taxes, closing costs, etc.) and a "negotiating premium" to the asking price. By adding these line items to your asking price, you may just price yourself right out of the market. You will do far better generating multiple offers by not adding these items, than you will for an offer that you must "negotiate". Estimate the Potential Profit (or Loss): Once you have decided on a listing price, be sure to evaluate potential gains or losses within your acceptable price range. The selling price may be reduced by the following: real estate commissions, closing costs, title charges, government recording and transfer fees, additional settlement charges, debt obligations for existing mortgage, and home repairs (completed prior to and in order to list your home). WHAT ELSE MATTERS? Adequate Social Media Exposure: There is also a great deal of success in getting the word out about your desire to sell via social media sites (Facebook, Instagram, Twitter, etc.). Many agents also use YouTube videos, Pinterest groups, and blogs to obtain potential buyer lists and market their services. Accept All Showing Requests: Set your expectations upfront... selling a home is inconvenient. You must get your home ready, keep your home ready, and be out of your home at any given moment. Your family's routine will be interrupted by constant showing requests, day and night. Never turn down a showing request, as you won't ever know which buyer will be the buyer. Gather Important Documents: Collect important information on the major mechanics of the home, as well as any repairs and renovations that have been completed. This may include paperwork and warranty information on your roof, HVAC system, hot water heater, appliances, kitchen or bathroom remodels, window or flooring installation, and any permits pulled to conduct the work. Selling a home is likely to bring added stress, anxiety, and unwanted uncertainty. These feelings, however, will be drastically decreased if you set your expectations and the proper preparation is taken. Understanding the importance of these steps and how to make suitable decisions can make the difference between success and disaster in your home-selling experience.
HAVE YOU SCHEDULED YOUR ANNUAL MORTGAGE CHECKUP YET?
It’s a new year and a time of significant change in our world, but what about in your life? In the past year, you may have experienced shifts in employment, had a baby, been married, been divorced or reached retirement age. These are events that can completely alter the course of your life, and yet…your mortgage may have remained the same. This time of year, many of us are thinking about routine annual maintenance: annual physical exams, annual performance reviews, annual auto tune-ups, and even annual spring clean-outs. But, have you scheduled an annual mortgage checkup? Think about all of the life change you have encountered since taking out that mortgage five, 10 or 20 years ago. With that being said, a mortgage doesn't get better with time, but rather, is likely to grow stale and outdated when left unattended. It does not reflect the latest market interest rates, match your current financial needs or take into account your future plans. Therefore, it is important to evaluate your mortgage loan annually to ensure you've got the absolute best loan for your family's finances and long-term goals. A mortgage checkup is painless, and like your annual physical, is well-advised. WHAT IS A MORTGAGE CHECKUP? A mortgage checkup is an in-depth look at your current mortgage and financial situation to ensure that the existing structure maximizes your tax benefits, provides optimal cash-flow, and best suits your financial future. Market conditions fluctuate, your income and finances shift, and your household goals evolve. Given all these changes, your mortgage may need alteration as well. An experienced loan advisor will help you decide what action, if any, is best for you based on your unique situation, whether you're preparing for a significant life change, you want to improve your savings or find out if you can buy a new home. PREPARING FOR YOUR CHECKUP Simply getting a mortgage checkup doesn't require a credit inquiry or mortgage application unless the conversation leads you to a prequalification, so no need to worry about the impact to your credit report. However, to accurately assess your mortgage needs, it is imperative that you have the following information to discuss with your loan advisor as you talk over your mortgage options. Existing Mortgage Information: Be sure to have up-to-date mortgage information, such as: current home value, monthly payment, interest rate, loan term, balance, and mortgage origination year. Current Financial State: Regardless of the length of time in your existing loan, your financial state has likely changed overtime. Perhaps you have new income or employment, have taken on new long-term debts or paid off existing debts. Maybe your credit score has improved, qualifying you for a better rate. You may be able to afford a higher payment (to pay off your loan sooner) or perhaps you need to decrease your monthly obligation. Also, having a copy of your current credit report and credit score will be helpful to your advisor. Future Plans and Financial Goals: Any known significant changes could also mean additional expenses, and these factors could impact your mortgage decisions. For example, how long do you plan on living in your home? Are you getting married, having a baby, sending a child to college or planning to start a business. To more accurately assess your situation, be sure to disclose these relevant details to your advisor. THE BENEFITS OF REFINANCING If it hasn't been long since you purchased your home, or even refinanced, you may currently be in the most practical position, but only by performing a mortgage checkup will you know for sure. When reviewing your mortgage with your loan advisor, it will give you an opportunity to crunch the numbers, look at different scenarios, and decide on the best route. One of the most common and viable options your advisor may recommend is to refinance your current mortgage, which could offer many benefits. Lower Interest Rate: Refinancing your loan may help you lower your interest rate and save hundreds on your monthly payment. Throughout the pandemic, mortgage refinancing made headlines as interest rates plummeted, staying below 3 percent. As expected, rates have now begun to move upward, though they still remain in historically low territory. Refinancing at today's rate, compared to 10 years ago, could save you thousands over the life of your loan. New Loan Type: Perhaps you don't need to lower your interest rate, but you could refinance to change an adjustable-rate loan to one with a fixed rate. Shorter Loan Term: Refinancing to reduce the length of your mortgage, from a 30- to a 15-year loan, could help you pay it off sooner. Debt Consolidation: If you're dealing with a number of debts with high or growing interest rates, refinancing could also consolidate multiple loans into one home loan, with a potentially lower rate, and ultimately have the opportunity to save you money in the long run. Home Equity: Cash out some of your home's equity for major expenses like college, medical bills, or home upgrades and renovations. Eliminate PMI: If you are locked into Private Mortgage Insurance (PMI), find out if you can request early cancellation and potentially save hundreds a month on this added cost. Savings. Security. Peace of mind. That's what you can expect when you reach out to your loan advisor and schedule your annual mortgage checkup. With all the change going on in our world, chances are the loan that was working for you a year ago is no longer relevant. And like your health, it's important to make sure you evaluate your mortgage loan at least annually to ensure you've got the absolute best loan for your family's finances and long-term goals.
DOWNSIZING YOUR HOME WITH A PLAN
Selling your home and moving into a new house is often bittersweet. You are eager for change, but anxious to leave a home filled with so many memories. Downsizing can be even more difficult, but can be the right decision depending on your goals. People opt to downsize for many reasons, and in different stages of life. You may find that purchasing a smaller home makes sense if you want to save money and get rid of unused space, are moving from the suburbs to a big city, are an empty-nester, have recently been divorced or lost a spouse. A smaller home typically means not having enough space for all of your belongings and can lead to stress and anxiety, especially for those who have a great deal of stuff and may have a difficult time separating from it. However, downsizing is an opportunity to refresh and start anew. If you plan carefully, you can create a comfortable and stylish environment, without sacrificing meaningful belongings. CONSIDER YOUR FUTURE NEEDS & PLAN AHEAD In order to effectively downsize, you need to envision the big picture. You should have a general idea of your future space and lifestyle. How many bedrooms will you have? Do you need an office? Will you be entertaining and need a good-sized kitchen and living area? Knowing these details will help you determine what you should keep and eliminate. By knowing your intentions and setting your goals ahead of time, you’ll have a much clearer view of what items will fit into your new lifestyle and home. START EARLY AND PACE YOURSELF You are keenly aware that this is going to be a huge undertaking, but you don’t need to tackle it all at once. Simply start early and set goals; plan to do a little bit each day, giving yourself daily and weekly completion goals. Downsizing is a chance to reset and revamp, so don't wait to start making decisions. Start the downsizing process as soon as possible to give yourself time to properly sort through your home without feeling stressed. A general rule of thumb to guide you is to begin the process at least 3-5 months before you plan to move, but the sooner the better. In addition, try to document the progression by taking before and after photos. Aside from building good habits, it will encourage you to reminisce upon the memories you’ve made in your home. FOCUS ON ONE ROOM AT A TIME The thought of decluttering and organizing your entire home is exhausting, so it is crucial that you focus on one room at a time. By breaking the project into multiple, more manageable projects, you will feel less anxiety and more goal-oriented. Larger, more cluttered spaces can present unique challenges. So choose a room and create an open work space for you to begin. Then, break the room into even smaller tasks to ensure that you stay on track. For example, sort through the overabundance of DVDs and video games, tackle the dreaded “junk drawer”, pick the shoes you wish to give away and to keep, attack your dresser drawers, organize small kitchen items, and eliminate items for which you may have multiples. Decluttering: When it’s time to determine what items you are prepared to part with, be sure to use a strict “yes” or “no” strategy. Avoid “maybes”, as they add up quickly and then all you’ve accomplished is moving your items from one spot to another. You have opted to keep the “yes” items and then must decide how to handle the “no” items. Although you may no longer need or want these things, they would more than likely be useful to someone else. Therefore, a common set of “no” options would be to: Sell or Donate: Reusable furniture, housewares, clothing, and other items in good condition could be sold at a garage sale or online. Be sure you use proper safety and anti-fraud precautions when using apps to sell or buy items online (guidelines can be found on the organization’s website or app). You may also opt to donate to non-profits or charities, such as Goodwill, Salvation Army, ARC or Habitat for Humanity. Depending on your location, some of these organizations will pick-up your items, making the task that much easier. Trash or Recycle: Anything damaged or worn beyond repair should be thrown away or recycled. Pass Down: Sentimental furniture and décor can be passed down to family members or friends. Organization: Make the effort to leave your space more organized than you found it. Not only will it improve your day-to-day living, but it will also ensure that packing is much easier. Organize smaller items in your drawers by using trays and boxes. These will pack and transfer easily from one home to another. Don’t pack jewelry, money or other valuables, keeping those close by during your move or temporarily placed in a vault or bank lockbox. Documents: Paperwork and files can really build up over the years. Shred any statements or documents that you have online access to, as well as any tax-related paperwork more than seven years old. Other documents can be scanned and organized neatly into digital files, but be sure you back up these files on a separate drive. For important physical documents (birth certificate, passports, etc.), make sure you have a fireproof safe to store them in your new home. Preserving Memories: You will likely have many sentimental items that may not make sense to pass down or take to your new home. Therefore, do your best to preserve the memories. For example, photo albums take up a lot of room and photos deteriorate over time. Digitize the photos to save space and easily share them with family. Purchase a digital frame and enjoy all of your photos in a rotating slideshow. For other mementoes, take pictures of them and add relevant details (where it came from, what it signifies, etc.). Photograph or scan sweet notes and cards, paper mementos like tickets or playbills, and your child’s artwork. Create a “treasure” photobook of these items. Give keepsakes a new life by scrapbooking old movie stubs, letters, and photos, creating a fun record of your experiences. Put your memories in one place to enjoy by making three-dimensional artwork using a shadowbox. Or, repurpose or upcycle your keepsakes and incorporate into your new space. For example, turn your favorite t-shirt collection into a quilt that you can use or convert that old toy chest into usable seating or blanket storage. RECRUIT HELP Know what your strengths and weaknesses are. If you're a strong organizer and don’t need help to sort and pack your belongings, perhaps you’ll just need some muscle power on moving day. But if you feel that the downsizing and moving processes are too much for you to handle or you simply don’t have the time, don’t hesitate to recruit some help. If you have a hard time getting organized or letting go of items, ask friends or family members to assist you. Or, consider hiring a professional organizer who can offer an objective opinion when you're trying to decide what you really need to eliminate or donate to charity.> Downsizing your home is an emotional process, and you will discover items you haven’t seen in years. Give yourself some time to reminisce, and then start making decisions. Keeping your space limitations in mind, take with you what is truly valuable. Only you can decide what you can and can’t live without.> Once you’ve completed your move, you’ll be able to enjoy your new place surrounded by the feelings of newness and home.
TOP TEN HOME IMPROVEMENT TIPS FOR THIS YEAR
If you're looking for home improvement tips for the upcoming year, you've come to the right place. The latest home improvement trends are all about making your home more efficient, stylish, and sustainable. There are always new trends emerging in the world of home improvement, and it can be tough to keep up with what’s popular. Whether you’re looking to update your home’s design or make some necessary repairs, here are a few home improvement trends to keep in mind. 1. INSTALL ENERGY-EFFICIENT APPLIANCES One of the best ways to save money and energy in your home is to install energy-efficient appliances. This includes everything from your fridge and oven to your washing machine and dryer. Not only will you see lower bills, but you'll also be doing your part to help the environment. 2. ADD SOLAR PANELS Solar panels are becoming increasingly popular, and for good reason. Not only do they help reduce your carbon footprint, but they can also save you money on your energy bills. If you're thinking about adding solar panels to your home, make sure to do your research and choose a reputable installer. 3. UPDATE YOUR WINDOWS Windows are another area where you can improve both your home's efficiency and its aesthetic appeal. Replacing old, drafty windows with new, energy-efficient ones will help keep heat in during the winter and cool air in during the summer. 4. SMART HOME TECHNOLOGY One of the biggest trends in home improvement is the integration of smart technology. From thermostats and security systems to appliances and lighting, there are now a number of ways to automate your home. This trend is only going to continue to grow as technology becomes more advanced and more affordable. 5. SUSTAINABLE MATERIALS More and more homeowners are looking for ways to be more environmentally friendly, and this is reflected in the materials they use for their home improvement projects. Sustainable options like bamboo flooring, recycled glass countertops, and low-VOC paints. Not only are these materials better for the environment, but they can also help improve indoor air quality. 6. BOLD COLORS AND PATTERNS In recent years, we’ve seen a shift away from neutral colors and towards bolder hues and patterns. This trend is especially popular in kitchens and bathrooms, where homeowners are using color to make a statement. If you’re not ready for a complete overhaul, consider adding a pop of color with accent pieces like rugs, towels, or wallpaper. 7. REVAMPING YOUR KITCHEN The kitchen is one of the most popular rooms in the house to renovate, and it's easy to see why. A new kitchen can make cooking and entertaining much easier and more enjoyable. If your kitchen is in need of an update, consider installing new appliances, countertops, and cabinets. You might also want to add some additional space by knocking out a wall or two. 8. ADDING ON A DECK OR PATIO Outdoor living spaces are becoming increasingly popular, and for good reason. They provide a great place to relax or entertain guests during the warmer months. If you have the space, consider adding a deck or patio to your home. 9. RENOVATING YOUR BATHROOM Like the kitchen, the bathroom is another room in the house that tends to see a lot of wear and tear over time. If your bathroom could use some work, consider replacing outdated fixtures, tiles, and toilets. You might also want to expand the space by adding another sink or bathtub. 10. FINISHING YOUR BASEMENT OR ATTIC CONVERSION PROJECT Basements and attics are often overlooked when it comes to home improvement projects but they can actually be turned into usable living space with a little bit of work. As we move into the future, there are a few home improvement trends that you can expect to see more of. These include energy-efficient appliances, sustainable building materials, and smart home technology. By keeping these trends in mind, you can make sure your home is on the cutting edge of style and function.
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