Increase Philadelphia Real Estate Home’s Value
Increase Philadelphia Real Estate Home’s Value
By Larry Flick, Prudential Fox & Roach, Realtors
How Homeowners Can Increase Their Home’s Value in Today’s Market
In today’s climate of dwindling home values, many homeowners are wondering if it’s at all possible to increase their home’s value. According to Larry Flick, CEO of Prudential Fox & Roach there are steps you can take to build equity despite current market conditions.
“To elevate the value of your home, a detailed and specific assessment of your home, and the homes against which it will compete in the market, is necessary,” says Flick. “A professional home inspection-especially for those who are not planning to sell their home soon-can help determine exactly what needs to be done to increase your home’s value and can help you plan for expenses if there is work to be done.”
Having your home professionally inspected well before putting it on the market—or when you’re not even planning to put it on the market—has a number of advantages, says Flick:
- For a relatively minor investment, homeowners will have an opportunity to review an objectively prepared assessment of the condition of their home’s structure, systems and amenities
- Everything else being equal, the inspection report should be consistent with the report prepared by a buyer’s inspector, virtually eliminating stressful surprises when the home is on the market one day
- Having an inspection done while their home is not on the market provides owners with an opportunity to decide whether to do the work themselves or to have the work contracted at their convenience and without the pressure of a deadline
- The greatest value of proactive inspection is that the decision to repair vs. replace will be the homeowner’s alone…not a prospective buyer’s. A buyer may use the replacement of the air conditioner or the roof as a negotiating gambit when a proactive, high-quality repair would have been completely satisfactory. This places homeowners in a much stronger negotiating position in the future
“By taking this proactive approach to home inspections, homeowners can increase their home’s value instantly, giving it a strong competitive edge in the market if and when they decide to move,” says Flick. “By addressing major repair/replacement issues now, homeowners diminish competition from newer and better-maintained homes on the market.”
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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
[email protected]
www.CenterCityTeam.com
