Hold off before making an addition to the home

Those who have grown up in ranch style homes in neighborhoods with big yards relative to what you find in newer neighborhoods today, know that it was easier in those days to build onto your home, an extra room here, an enclosed deck or Florida room there. You did not have to get a permit from the local government for every minor thing you did. You did not have to get permission from a home owners association board, since there were not very many home owners associations in those days. It is much, much, harder to do what you want to do on your property today. We are a much more regulated society than we were in the 50’s, 60’s and 70’s (the era of ranch style homes). Also, with a ranch style home, it is much easier to make an addition, since a ranch home is typically lower to the earth, and lacks the height that so many contemporary homes have. The structure is easier to work with and make additions to. Many yards were bigger in ranch neighborhoods and there was more space on many properties to justify additions to the home.

Today, builders have been building bigger homes to satisfy the appetite for “more,” that many buyers have. With more house, comes smaller yard as land costs much more today than when I was growing up. People use to go into their backyards to live, barbecue, play volleyball, create something new in the garden, read a book, adn take a stroll. Now, people live indoors more, and only look out the window into the tiny yard space they have.

There is something to keep in mind if you have the space and the permission to build an addition to your home. If you are in the biggest home in the neighborhood, it will not be a logical idea to build an extra room on the house since you will be faced with the law of diminishing return when you decide to sale. A bigger home in a a neighborhood of smaller homes, will have less value than a smaller home in a neighborhood of bigger homes. You will probably want to sell your home for the most money. While an addition is nice, and may even be a necessity, just remember, that buyers determine value, not sellers. If all the homes in your neighborhood are 1700 square foot, and your home is 2000 square foot plus an extra bedroom you added, buyers are not going to pay you more for an oversized home in that neighborhood of smaller homes.

When you are ready to buy a new home, think about the above. Maybe you should look for a resale home, an older ranch style home that has proved through all the years of wear and tear to be a strong, sound structure. Look in the older ranch neighborhoods and you are likely to find bigger yards, beautiful trees, create gardens, a pool already put in, and space to get away from the hum drum of daily living. You might even find a Japanese garden (they were popular in the 60’s). You might even find a big yard in a neighborhood with no homeowners association, or a less restrictive one, and more possibility to make an addition to the home. Many of the homes already have had additions, so you might find more home and more yard for the money.

Kenneth Fach, REALTOR, e-PRO
Keller Williams Town and Country Realty, 1520 Killearn Center Blvd., Tallahassee, FL 32309
Direct 850-339-5753 http://KennethFach.com

Each office is independently owned and operated.

Be Prepared for Questions from Real Estate Agent

I learned in my years in scouting that the best way to do anything right is to be prepared. How many times I have asked basic questions to real estate buyers and sellers, and have not had my questions answered or answered in a timely manner. I am going to tell you what questions you need to be prepared to receive from your real estate agent. These are practical questions: How much home can you afford? Have you been preapproved for a mortgage loan and for how much? What part of town are you interested in living in? What are five features that your home must have? What do you own on your current home and how much equity  have  you built up in it? Are you working with another real estate agent? (agents like loyalty). What insurance company will you be using? This next one changes so often, but it is important so that the real estate pro can better work for you. What is your time frame?  The real estate pros can assist you, but you have to open up to them, and answer all questions. For sellers, it is important to know all about your home. Your agent will probably have you fill out a HomeOwners Disclosure. In that, you will need to give dates as to when repairs were made, age of appliances, whether the air conditioning works properly, and if you know anything that could materially affect the value of your home. Have all your paperwork in order and with accuracy. Complete any paperwork given you by your agent. This is often protection to you, and the other party.

Kenneth Fach, REALTOR, e-PRO Certified
Weichert, REALTORS-Anchor, Tallahassee, Florida
Direct 850-339-5753  http://KennethFach.com  Blog: Tallahassee.KenandRealEstate.com

Each office is independently owned and operated.

Sellers must tell their buyers

Sellers: this message is for you. Please, please, disclose anything that you know may materially affect the the value of the home you are selling.  Buyers want to know, and legally are entitled to know if there is an issue in the home, on the property that could materially affect the value of the real estate. Flooding issues, leaks, pests, plumbing issues, and so much more must be disclosed to the buyer. Your real estate agent will want you to fill out a Seller’s Disclosure. Please take the time to complete is accurately, and truthfully. Then, the agent will have to provide copies of the disclosure to buyer prospects.

I can assist any seller with disclosure issues. This is the age of disclosure, and I am there to make a smooth transaction.

Call me with any of your real estate questions: 850-339-5753.

Kenneth Fach, REALTOR, Weichert, REALTORS-Anchor, 1607 Village Square Boulevard, Suite B 107,  Tallahassee, FL  32309, 
Direct: 850-339-5753

Each office is independently owned and operated.