A little work put into Ocean City NJ real estate goes a long way!
There are thousands of old rehab and flip stories with Ocean City NJ real estate. Rehabs are finally becoming a hot topic again. Earlier this year, a close friend of mine purchased a distressed property just outside of Ocean City for $34,000. In 60 days she re-modeled the 3 bedroom home with slightly used appliances and cabinets purchased of off Craigs List, they put in new flooring, and applied fresh paint. The kitchen and baths were a main focus. She put the home back up for sale at a price of $120,000 and had a full price offer that day.
In a market where less investors are flipping homes most Buyers want Ocean City NJ real estate that is move-in ready.
Most families want a home that is ready that day because they are packing up their whole lives and moving their kids. Buyers lives are already stressed with the pressure involved with a move. Re-model work can be time consuming, pricey, and labor intensive. No family wants to add that to their list of things-to-do. If you, a Seller of Ocean City NJ real estate, are wanting to sell your house then there are 3 things that you will want your house to be: CLEAN, UP-DATED and COMPETITIVELY PRICED.
For instance, with some Ocean City NJ real estate – if you have old appliances, vinyl flooring and cabinets with gold handles you will want to make some minor improvements to attract attention. If you don’t, many times you will see that an even larger amount will be deducted from your sale price. I suggest not going way overboard and spending tons of money. The idea is just to make it look nice and not worn out. Shop around like my friend did to get the best prices. Use the internet and Craig’s List or newspapers to see if you can get appliances and cabinets somewhat used and for a low price. Redo the floors and the paint and don’t chose crazy colors. Consider painting the old cabinets if need be. Definitely install more modern knobs. This is simple a simple task that makes a big difference in appearance.
This overall theory also works extremely well with Ocean City NJ real estate rental properties. The nicer the home, the higher the income. There are many duplex units that have one floor in its original condition from 25 years ago and the other floor is remodeled and there is a $1000 a week difference in rent! – same layout, same unit!
The bottom line is that most Buyers want Ocean City NJ real estate that is in great shape, especially in this market. So get to work!
(If you need help with Ocean City NJ real estate contact me – Caroline Watts, Prudential Fox & Roach Realtors, Ocean City NJ, 609-254-4756, firstname.lastname@example.org)