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Investment

Kitchen Remodel Return on Investment in Atlanta

by Floyd Brooks Last Modified: February 4, 2022

When a potential home buyer walks into a house they are thinking about buying, the very first place that they want to see is typically the kitchen. The story is not much different when people view images of homes online. An improved kitchen can make or break a deal. The master suite is not far behind in the emotional pull it has on buyers.

In modern homes and the prevalence of open floor plans that buyers love, the kitchen is a central aspect of the home. Plus, everyone in the home will enjoy the kitchen. 

However, spending thousands of dollars on a full kitchen remodel before listing your home for sale may not provide the return on investment that you may expect. It is very unlikely that you will see a 100% or greater return on your investment if you foot the bill for a full kitchen remodel, unless your home is highly antiquated, malfunctioning, or damaged. On the other hand, giving your kitchen a minor facelift may provide a sufficient return on investment for a kitchen remodel and at the same time may provide you the sweetener you need to stand toe to toe with competing properties when you decide to sell.

Minor Kitchen Remodel vs Major Kitchen Remodel in Atlanta

Remodeling Magazine has grouped kitchen remodels into two major categories: major kitchen remodels and minor kitchen remodels. 

In a minor kitchen remodel, the kitchen is functional but outdated. In a remodel of his nature, the appliances may be replaced with updated energy-efficient models, cabinets resurfaced, or replaced with modern favorites such as shaker cabinet styles. In the addition, the counter and floors may get updated as well.

On the other hand, a major kitchen remodel may involve a full overall of the kitchen. This may include removing walls, moving the kitchen around entirely, installing custom appliances, top-tier sinks, faucets, pot fillers, a showpiece island with a waterfall edge countertop, and so forth.   A major kitchen overall can get very expensive.

Minor Kitchen Remodel Return on Investment in Atlanta

kitchen-remodel-roi-minor-repairs
  • ROI: 72%
  • Average cost: $26,055
  • Return: $18,752

Major Kitchen Remodel Return on Investment in Atlanta

Kitchen-remodel-major-kitchen-remodel-roi
  • ROI: 55.8%
  • Average cost: $147,439 
  • Return: $82,342

A full renovation may not be feasible for every homeowner or seller. What is more important is that your update meets your needs. In addition, if you are planning on selling your home in the near future, you want to make sure that your updates meet the needs of the market when you decide to list-future proofing your home.  

Related

  • Homes for sale in Atlanta
  • New Construction homes for sale in Gwinnett County
  • New Construction homes for sale in Alpharetta

Does painting kitchen cabinets increase home value?

Definitely. A fresh coat of paint is a great way to add value to your home. Kitchen cabinets tend to get used a lot and a fresh coat of paint will spruce them without breaking the bank. YOu could simply resurface the cabinets and apply a nice coat of paint

Do high-end appliances increase home value?

High-end appliances will add value to the right home. If the home is an entry-level home, adding top-of-the-line stainless steel appliances or designer appliances may not add much in terms of value to your home. Instead, check out the housing market in your area and look at the types of kitchens that buyers are loving.

How much should you spend on a kitchen remodel?

You should spend money on your kitchen that you are comfortable spending. To determine how much to spend on a kitchen remodel, look at the current value of your home and your equity situation in the home. In addition, think about how long you may keep your home before selling it and what will make you happy. At the end of the day, you do not want to spend more on your home than what it is worth unless that is not a concern to you.

Is remodeling a kitchen worth it?

Remodeling a  kitchen is definitely worth it and will help to make the home more of a destination for the entire family. A Remodeled kitchen is among the top ten renovations that can be done on a home and provide a good return on investment for sellers. 

What are the best kitchen updates for resale?

Among the best updates that add value to a kitchen are a freshly painted kitchen, updated appliances, updated countertops, cabinets (and pulls), and excellent lighting. These updates can be had without breaking the bank, especially if you add some elbow grease.

Credit

https://www.remodeling.hw.net/cost-vs-value/2021/south-atlantic/atlanta-ga/

Tagged With: Investment, ROI

7 Reasons to Upgrade Your Garage Door

by Floyd Brooks Last Modified: April 28, 2022

7-reasons-to-upgrade-your-garage

A garage door is commonly the largest door on a house. They can be opened manually or with electronics. For most homes, the garage door is a prominent aspect of the home. On average, a garage door takes up 20% of a home’s facade. In simple terms, a garage door can significantly affect a home’s curb appeal. A newly improved garage door may contribute as much as 4% to a home’s perceived value. 

Here is a list of 7 reasons to upgrade your garage door. Upgrading your garage door may include adding decals to your current garage door, painting it, improving the springs, or changing the panels. For some homeowners, an upgrade may mean replacing the garage and operating mechanism.

7 Reasons to Upgrade Your Garage Door

  1. Improved curb appeal
  2. Great return on investment (ROI)
  3. Increase a home’s resale value
  4. Reduce noise
  5. Improved Energy Efficiency
  6. Lower maintenance costs
  7. Improved safety and security

Improved Curb Appeal

As stated above, as much as 20% of a home’s facade may be taken up by the garage door. That means, upgrading your garage door can significantly improve the way your home is showcased from the street. You do not need to even replace the entire garage door to improve the appearance of the doors. You could simply splash on a new coat of paint or add decals to the garage door to spruce it up to make a banging impact.

Great Return on Investment

According to the analysis by Remodeling Magazine, investing $3,611 to replace a premium garage door might net you $3,520 when you sell it. That is a whopping 97.5 percent return on investment.

Increase a Home’s Resale Value

Garage doors are among the most used doors on a typical home. Some people may go months without opening their front doors, but they may use their garage doors on a daily basis. That means that a defective garage door, or one that is unappealing, may diminish the value of a home in the minds of some buyers. Therefore, a great garage door may be a compelling selling feature and a great selling point to highlight to potential buyers.

Reduce Noise

Since garage doors occupy so much of a home’s surface area, if your garage door faces a busy street or the neighborhood is prone to noise, a properly insulated garage door may buffer noise entering the home and make the occupants more comfortable.

Improved Energy Efficiency

Older garage doors are notoriously energy inefficient. This is particularly important if you have conditioned space above the garage. Most rooms above garages tend to be affected by the temperature of the garage. That means that those rooms may be warmer than other parts of the home during the summer months and cooler in the winter months. Therefore, if you do not use your garage to store chemicals and your garage door is south facing, it may be a good idea to have a garage door that is insulated to help mitigate the impact of the climate on your home. It will keep the home at a comfortable temperature throughout the year and save you money when it comes to heating and cooling.

Lower Maintenance Cost

If you have an older garage door, you may notice that it requires more maintenance and repairs. In one of my previous homes, I heard a huge commotion in the garage. When I went to investigate, the garage door had fallen. Upon closer examination, I discovered that the garage door had a failed spring. That was a huge expense. More on that another time.

Whatever your circumstance is, installing a new garage door might be the solution to lower your maintenance cost and potential safety issues. A newer garage door will save you money in the long run when it comes to maintenance.

Improved Security and Safety

A garage is an excellent security blanket for your home. It is an additional door that has to be opened before someone can get into your home. That means that the garage door will help to shield your home from burglars.  

Modern garage doors come with a slue of security features and enhancements that are great selling features to modern homebuyers. Some garage doors have enhanced security features such as WIFI, cameras, motion sensors, etc. Some garage doors come with internet connectivity that allows them to be controlled remotely over the internet. That means that you could be halfway around the world and open and close your garage doors and even set schedules for your door. 

A great safety feature is a safety sensor. The safety sensor on a grade door stops the garage door from closing if motion is detected under the door when the door is closing. This is is a great feature if you have pets or small children.

Conclusion

It can be concluded that a new, or renewed, garage door significantly improves a home’s curb appeal among many other benefits. A new garage door is estimated to provide the highest return on investment when compared to other noteworthy home improvements. A newer garage door has technological improvements that may be of interest to many buyers. 

Tagged With: Investment, ROI

Think you are too Broke to Make Money in Real Estate? Think Again!

by Floyd Brooks Last Modified: December 8, 2021

Make Money in Real Estate

Real estate profits can produce real income. Over the years, the market has shown that real estate is one of the most efficient ways to produce a steady income in the long term primarily through leases and flipping real estate. 

You do not need a lot of starting capital to make money in the real estate industry. However, you do need to know what to do and how to do things to protect yourself and your interests. 

Below, I will outline how to make money in real estate. There are even options available to make money in real estate even if you do not have a high credit score or very little savings.

Stable and Reliable Residential Property Income

As with any investment in real estate, location is the first thing that you should consider when you decide to invest in real estate for rental income.

The majority of residential property income comes from rent. Your monthly rent from tenants is your gross revenue. That is the amount you earn on that property before you subtract monthly expenses on that property. The difference between your monthly income and expenses is your net income on that property each month. 

With all things being equal, a property in a good location and stable tenants will become more profitable as inflation increases.

The property will become increasingly more profitable. This will mean that your monthly income is more likely to increase. A property in a desirable location will be more desirable and easier to rent. 

Fix and Flip

You have seen those shows fix and fix shows on television. An investor visits a property and because of the location and condition of the property, they instantly have earning potential.  This earning will materialize if the property can be renovated and sold.

Fixing and flipping properties can be very lucrative if the timing is right. However, there are inherent risks involved in this process. Therefore, this method of investing is not for the faint of heart. You can end up on the losing end if too many mistakes are made.

As with most investments, a good fix and flip property have to be bought at a good price. This provides a cushion to buffer all the costs that will be involved in renovating that property.

Private Lending

This form of lending is also known as hard money lending. If you have the coin but lack the tools and the time to get your hands dirty flipping properties, or getting involved in the rental side of the business, you can use your financial reserves to help others for a fee.

You can help out others by acting as a sort of bank and charging fees and interest on money that you loan out to carry out property renovations.

Commercial Real Estate

Most successful businesses have a storefront. Commercial real estate will always be in demand. Like any other form of real estate, there are inherent risks involved, however, the payoff can be substantial by getting into the commercial real estate segment of the market. 

In the commercial real estate space, you can make money by fixing and flipping properties or even improving raw land. The opportunities in this space are endless.

Vacation Rentals and Airbnb Rentals

Having a vacation rental can prove quite profitable. If you buy in a location where people are looking to rest and relax, you could find yourself in a gold mine. 

Think about where you would go if you wanted to go on vacation. Imagine, a high trafficked area along the coast, such as Miami or Savannah, or in the mountains along rivers and lakes

Owning a property in a location where people want to take a break can prove lucrative. Listing properties that you already own on sites such as AIRBNB and FlipKey are easy ways to get into the short-term rental space. 

Real Estate Wholesaling

You are probably thinking, what is real estate wholesaling? Well, real estate wholesaling is flipping a real estate contract. This means that you find a seller who is willing to sell their house for less than it is worth. You as the buyer place this house under contract. After the house goes under contract, you find an investor that is willing to purchase this house for more than what you offered the seller. At this point, you will then transfer your equitable rights to the property in the form of an assignment agreement.

Wholesaling is also a great way to start investing in real estate with little money upfront. The most an investor would need upfront would be the earnest money to show the buyer that you are serious.

Make Money From Investing in Raw Land

Some investors purchase land in areas where others may shy away from. Depending on the rights that the owner has in the property or the restrictions based on building codes for that location, raw can could be used as parking lots, access roads, or land for cell towers. 

Unimproved land can also be rented for agricultural production. Raw land can also be planted with valuable timber that could serve as a form of long-term investment or a hedge against future inflation.  

Invest in Digital Real Estate Through Real Estate Investment Trusts (REITs)

Did images of Metaverse swirl through your mind? Are you looking for other ways to invest in real estate without getting your hands dirty? Then, investing in REITs may be for you.

REITs are companies that own and operate large real estate portfolios such as shopping malls, apartment complexes, business parks, and hotels. You can invest in REITs by purchasing shares of stock in REITs. This allows you to invest without owning properties.

Purchasing Short sales Foreclosures and Auctioned Properties

The idea behind these investments is that you will purchase the property for less than the fair market value. 

After the property is acquired, it can then be held in a portfolio and offered to rent or fixed and flipped for profit.

These forms of investments can be time-consuming and risky. Most investors will limit themselves to properties that they can tour.

Lease Options

As the name suggests, a lease option is leasing a property with the option to buy. 

Lease options can be a great way to get involved in real estate. You do not have to invest a lot of money to invest in real estate through the lease option route. In addition, you do not need to have stellar credit. 

A real estate option may work well in a market where the prices are climbing. By participating in a lease option, you are agreeing to be given the right of first refusal to a future sale price. That means that you could agree to be given the first rights to a property you are renting. If the fair market value of the property is significantly greater than the agreed price, you could turn around and sell that property for profit if the numbers work out.

Tagged With: Investment

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