Buying a new home or investing in real estate can be a whirlwind of quick decisions, contracts, and excitement. Individual buyers frequently find they have more questions than answers, which is why it’s wise to consult a home-buying professional to help with the process. Whether you plan to live in the home yourself or renovate and flip it for a profit, All Homes AZ has some quick tips to help you make the most of your new investment in Arizona.
Talk to an expert. Real estate is a large, vibrant community and it’s easy to get lost in the paperwork. All the investing CDs in the world cannot completely explain how to get the best property for your dollar. Our professionals at All Homes AZ want you to get the best value. We’re used to closing sales quickly so our experts will help you pay cash for a house and get into the home you want – now.
Review Your Insurance. Check your homeowner’s insurance plan before purchasing a new property. Some standard policies exclude flood or fire protection, which are two leading causes of damage in residential property. If you notice any gaps in your policy, speak with an insurance agent to see if you can upgrade to a plan with additional coverage.
Understand the difference between repairs and improvements. While routine maintenance is a given when you purchase a property, not everything will actually increase the home’s value. Simple things like changing the air filter and cutting the grass will make you feel better, but if your intent is to flip the house for a profit, you’ll want to focus more on big-ticket items like installations and renovations.
While we’re on the topic of raising your property’s value, it’s important to recognize there are many ways to save yourself money while increasing your home’s value for future buyers. Everyone can profit, whether you are a new homeowner locating the perfect house for your family or an investor whose primary goal is to resell. It’s the perfect win-win situation.
Install ceiling fans. Ceiling fans are more than just decoration. Fans keep air circulating around every room of your house. With air evenly distributed, you can turn the thermostat a few degrees warmer in the summer and keep it a few degrees cooler in the winter to save energy. Also remember to rotate your fan blades with the seasons: air should blow down on you in the warmer months and pull air up in winter. Usually this change is as simple as flipping a reversal switch.
Keep air where it belongs. Don’t allow untamed air flow to raise your bills! Seal your windows, doors, and other home openings with caulk or weather-stripping. If you notice a bill is significantly higher than usual and this isn’t due to a change in pricing by your energy provider, check to see if caulking needs to be replaced. Air-sealing the house is an important way to save energy in your home and prevent bills from skyrocketing.
Select energy efficient appliances. Energy-efficient appliances might be slightly more expensive at the initial purchase, but if your refrigerator lasts twenty years and uses less energy than a traditional appliance during that time, you’ve actually made a sound investment. Ask the retailer what the expected energy savings are and try to calculate your average savings compared to the original price. Usually you’ll find the savings far outweigh the initial expense.
Claim tax credits. Frequently, homeowners can receive tax credits for solar panels or Energy Star appliances. The tax credit alone is a great incentive, but these same items can also be featured as selling points in the future. You’ll save money during tax season and on energy bills during your ownership.
When it comes to investing in Arizona real estate, it’s important to work with a professional to make sure you select the best property for you with the highest value. Our team of experts will listen to your needs, evaluate available listings, and ensure you get the property of your dreams as quickly as possible. Contact a home investment professional today and let us know how we can help locate the best investment for you.
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