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Around the House: Newsletter  

Connie Killingbeck's personal newsletter Featuring Home Improvement Tips,  Home Advice, and Information on Real Estate and your Home...

Issue 2

Home Improvements: A Smart Investment

Do you want to make your home more appealing to sell or just want to spruce it up? Deciding how much time, effort, and money to invest in making improvements requires careful consideration before you start hiring contractors or doing the work yourself. 

An improvement is anything that enhances the value of your home, prolongs its life, or adapts it to new uses. As a REALTOR, I'm familiar with the homes in your area and their market value. I'm a great resource for determining what improvements could be the most advantageous, especially if you're planning to sell your home.

If you make too many costly improvements, your home could become overpriced for the neighborhood--you won't get a return on your improvement investment and instead may lose money. If you choose colors and designs bases strictly on your own preferences rather than those that are neutral for mass appeal, your improvements may become a deterrent for buyers. You could do too much--or to little.
    As an experienced REALTOR in you neighborhood, let me help you make improvement decisions. Give me a call and let's discuss how to make your home more appealing to you and potential buyers.

Get a Return on Your Improvement

A capital expenditure is the cost of an improvement. The money you spend can be added to your original cost basis. If you sell the home at a profit, these costs will reduce the capital gains tax you might owe.

Note:  The IRS has new, more generous exclusions from tax on capital gain when you sell you home. Since tax laws are subject to change, keep all your invoices, and cancelled checks.

IRS-approved improvements include additions, central air conditioning, deck, finishing a basement, new furnace, new roof, and new siding.

An attractive landscape can increase the value of your home by an average of 7.5% and reduce the time on the market by five to six weeks.  The Wall Street Journal reported that landscape investments can be fully recoverable and sometimes doubled by the increased home value.

Did You Know....

• Good landscaping increases community appeal.
• Trees shading homes can reduce attic temperature as much as 40 degrees.
• Unhealthy trees with weak limbs can seriously damage your home or property.
• Landscaping screens busy street noises and reduces glare from head lights.

QUESTIONS I AM OFTEN ASKED...

Q. What is PITI?

A.  Principal, Interest, Taxes, and Insurance (PITI) are the four components of a monthly mortgage payment. 

• Principle refers to the part of the monthly payment that reduces the remaining balance of the mortgage. 
• Interest is the fee charged for borrowing money. 
• Taxes and Insurance refer to the amounts that are paid into an escrow account each month for property taxes and hazard insurance.

ACHIEVE MORE WITH YOUR TIME

Do you feel that you spend your day in a frenzy of activity, but achieve very little?  According to the Pareto Principle (the 80/20 rule), typically 80% of unfocused effort generates only 20% of the desired results and the remaining 80% of the results that you want are achieved with only 20% of the effort.  By concentrating on accomplishing a specific task, you can use your time more effectively and productively.

Articles

• Your Home is a Saving Account
• Is Your Home in Tip-Top Shape?
• "Still Home While You're Away From Home"
• Moving out of State
• Buying a Home

Articles

• Closing on your new Home
• THE COSTS OF CLOSING THE DEAL!
• How Can a REALTOR® Help
• DON'T LOSE YOUR COOL
• DURING THE SUMMER

Connie Killingbeck is devoted to providing the best information
and the friendliest, highest-quality real estate service in the Midland area.  

Contact Connie Killingbeck today to buy or sell your Home!

Real Estate of Midland
presented by REALTOR Connie Killingbeck, RE/MAX of Midland

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If you have any questions or would like help buying or selling your Home, contact Connie Killingbeck 

RE/MAX of Midland

Connie Killingbeck
(517) 923-4311  Office
(800) 311-7997 Toll Free
(517) 832-2031 Fax
sold@conniekillingbeck.com