Whenever you purchase a new home or commercial property, you don’t usually have an exit strategy in mind. But our circumstances change all the time, and we always want to get top dollar when it’s time to sell! Ferstl Valuation Services has been offering trusted real estate appraisals in Little Rock since 1967, and we’re always a phone call away when you’d like to schedule an independent appraisal. The process takes approximately two weeks to complete, and our team members are all committed to professionalism and legendary customer service.
When you’re considering putting a property on the market, the first thing you should do is review prior appraisals. The report will list issues that adversely affected the valuation, and your top priority should be resolving any observed health or safety issues. You should also review the sale price of comparable properties (“comps”) in the area and see how your property measures up. You don’t want to overimprove the property and price yourself out of the market, but you’re potentially leaving money on the table if recently renovated properties are selling quickly.
When it comes to renovations that offer the most “bang for your buck,” kitchen upgrades offer up to a 96% return on investment (ROI), and you can typically recoup up to 60-80% of your investment in bathroom upgrades. As far as exterior upgrades go, new steel doors and manufactured stone veneers offer up to a 200% ROI, and you stand to potentially triple your investment in a new garage door!
If the cost of major renovations exceeds your current budget, the best thing you can do is focus on curb appeal. Keep the lawn mowed and the hedges trimmed while the property is on the market, and add a fresh coat of paint. New interior paint in the right colors can deliver up to a 107% ROI, and a well-done exterior paint job can boost the value of your home or commercial property by as much as 2-5%!
For more information about real estate appraisal services in Little Rock, contact us online or at 501-375-1439.
