Investing in Your Home

Realtor Marie Young Discusses How to Balance Comfort and Marketability

Your primary residence is not just a house. It’s where you live—a place to enjoy and create cherished memories. It is also a significant financial investment that should be chosen wisely and maintained properly to ensure your comfort and maximize its marketability when the time comes to sell.

“Taking care of the smallest details in a timely way avoids costly repairs longer term,” says Realtor Marie Young, who helps people strike the right balance between making your house a home and a sound investment. “For example, repairing mortar in between the bricks on your steps can prevent them from cracking due to water infiltration.”

Another crucial aspect of any home improvement or renovation project is to obtain the necessary permits. Among the first things a buyer attorney requests is a record of permits for improvements, especially those mentioned in the ad copy. “Many towns, such as Basking Ridge, have these records online,” she notes. “Ensuring that all upgrades are completed to code is vital as the township will require you to further update to the code that is in place in the year in which you move.”

A fresh coat of paint is the among the most cost-effective ways to enhance your living space and home’s marketability. “A well-maintained and attractively presented home is more likely to catch the eye of potential buyers and help them imagine your home as theirs,” she says. 

Young emphasizes the importance of timeless renovations over trendy ones, as trends can quickly change.

Timing can be crucial when selling. Given today’s supply-driven and year-round real estate market, consider having your home photographed during the spring or summer if you’re planning a move the following winter to best showcase your property. 

For prospective buyers, Young advises not rushing into a purchase due to fear of missing out. “People might act on a house that they don’t love or one that is in a less-than-desirable location because they had lost out on a few bidding wars,” she says. “The best value really is buying the home you love. Should the market soften in years to come, prime locations sell much quicker and for a better return.”

If you find a house you love with features that can be easily changed or upgraded at a reasonable cost, don't hesitate to make a move, she notes. 

In today’s market, sellers often receive multiple offers, but the highest offer may not always be the best one. Young advises sellers to consider factors beyond the sale price. If you are still searching for your next home, evaluate which buyer is willing to offer the smoothest transition with the lowest amount of risk and a timeline that dovetails with yours. 

“Your home is both a place of comfort and a valuable investment,” she says. “By maintaining a balanced approach to homeownership, you can ensure your home remains a source of joy while securing its long-term value in the real estate market.” 

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