Is It Worth It: Upgrading Your Backyard

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We know that milkshakes bring all the boys to the yard, but will landscaping bring all the homebuyers? Welcome back to our Is It Worth It series, in which we dive into upgrades and renovations to find out, well, if they’re worth it.

Everyone wants a nice yard, but landscaping can be costly. Homeowners that are starting from scratch can spend anywhere from $3,000 to $16,000 — and that’s not even counting an in-ground pool. With all that in mind, does backyard renovation and landscaping add value to your home?

Backyard Must-Haves

If your home has a yard, there are certain parameters it should meet, at the bare minimum. Your home could actually lose value if these things aren’t in place:

Organization

Your backyard should not serve as an open storage space. Potential buyers are turned off by a messy yard — or, they’re thinking about how they can score a deal on your home. Putting in a shed could help you stay organized (it could also add value to your property). More than anything, make sure your yard doesn’t look like a dumpsite.

Regional Sense

Hardscaping or xeriscaping is practical and energy efficient in the arid Southwest. In the Midwest, people love their lawns. Southern homeowners tend to love a pool. You don’t have to stick to the “norm” for your region, but it’s good to keep in mind. 

Similarly, your landscaping practices should have consistent maintenance. A dried out lawn or a grimy pool could hurt your home’s value instead of help.

An Intentional Exterior

Does your house have peeling paint or missing shingles? Are there any shrubs or flowers? Is the overall look clean and inviting or kind of shabby?

Even if you don’t have a massive yard or any add-ons, putting thought and care into your home’s exterior is extremely important. As we talked about in our bad interior design choices blog, a lovely interior doesn’t mean a whole lot if that same sentiment isn’t reflected in the exterior.

Backyard Features That Add Value

Now that we’ve covered the bare minimums, it’s time to get into the fun stuff! These are all backyard add-ons that, when done well, can end up paying for much (if not all) of their initial costs.

Adding a Deck

Estimated Return: 76%

If you love the idea of a deck and know you’ll use it, you could get some serious bang for your buck. Estimates show that a $13,000 deck (about 16’ x 20’) adds at least $10,000 to your home’s value. Decks play to the imagination of potential homebuyers — who doesn’t love envisioning the backyard shindigs and grill-outs they’ll have in their new home?

Putting in a Patio

Estimated Return: 69%

Patios are similar to decks both in function and return on investment. While patios are usually less expensive than a deck, a deck gets a higher return.

Installing a Pool

Estimated Return: Depends

Determining the ROI of a pool is tricky. In hot climates (think California, Arizona, Georgia, etc.), a pool is considered a necessity in many areas. Having one might be more of an expectation than a luxury, depending on your location.

That being said, pools are expensive. On average, expect to pay at least $20,000-$40,000 (costs vary by state) and then annual maintenance fees, which can also add up to another thousand a year. In states where a home pool is a rarity, this over-improvement might end up biting you.

If you’ve dreamt of owning a pool and know you’ll use it, we aren’t ones to stop you from getting one. Just keep in mind that in some circumstances, a pool can be a financial sinkhole instead of a fun swimming hole.

Planting Trees

Estimated Return: 100%

And to think we were told money can’t grow on trees! You’re likely to get all your money back by planting trees, which can cost a few thousand upfront. Trees look great, they help the environment, they provide shade, and they’re definitely a worthy backyard feature — just don’t plant them too close to your house.

Building an Outdoor Dining Area

Estimated Return: 71%

An outdoor kitchen and dining area is a relatively expensive backyard project (about $14,000 on average). However, its estimated ROI could be of great value to your home. 

If you’re in an area where eating outside is easily accessible and you love to dine al fresco, you’ll love having an outdoor kitchen. But don’t let colder climates hold you back — add the firepit nearby or put in some heat lamps to make use of this space throughout the year.

Installing a Firepit

Estimated Return: 67%

Putting in a gas firepit and patio area isn’t too expensive — $6,000 on average for both — and is well worth the upfront costs. Firepits are synonymous with summer nights. Everyone loves spending time with friends and family out by the fire, watching the stars, and listening to the crickets chirp. This backyard upgrade is great for you in the present, as well as when you decide to sell. 

Before You Get Carried Away…

Remember that too many additions can backfire. You might look at this list and think, “I could really up my home’s value by putting all these things in.” The truth is that an over-improved space can turn away interested buyers.

Buyers might love to see one, maybe two of these backyard improvements that add value. Too many will either a) raise your home’s price so high that you lose a lot of potential buyers or b) come across as a lot to manage or take care of, which also turn people away. An excess of upgrades can also look cluttered, especially if your yard isn’t big.

Maybe you’re feeling inspired to create your dream backyard. Maybe you’re ready to take on some smaller backyard tasks that you know will up your home’s value. Or maybe you’re thinking it’s better to sell your property as-is and start fresh with a new backyard. If that’s the case, look through our listings to find your dream home (and yard!), and learn about the benefits of selling with RealtyHive.

Bad Interior Design Choices That Can Cost You

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Just like the book “If You Give a Mouse a Cookie,” the benefits of a well-decorated space don’t stop when the last picture is hung on the walls. The path of benefits keeps going and going.

To illustrate this, think about how a beautiful home is a more desirable home. A desirable home attracts more buyers. With more potential buyers comes more offers. And with more offers, you have the potential to sell on the best terms possible. 

Conversely, the opposite happens when your home struggles in the interior design department. Less interest from buyers means fewer offers, which means selling will more likely be on the buyers’ terms, not yours. In order to avoid this situation, we’re listing the bad interior design choices that we know can cost you. Trust us, we’ve seen it all.

An interior and exterior that completely contrast

How jarring would it be to walk inside a gorgeous, elegant brick mansion and see it decorated like a log cabin? How off-putting is the thought of a beautiful modern home that has a Victorian-styled interior? 

If the thought of these scenarios makes you shudder, that’s for good reason. While things don’t have to match identically (that would also be creepy), it’s good to think of the impression your home gives from the outside and how you can carry that impression inside. A few tips:

  • Play up your location. Southwest adobe, mountain living, seaside or lakefront — carrying elements of the outdoors inside brings a sense of harmony.
  • Play to your home’s strengths. A log cabin feels blissfully secluded. A Victorian manor is a slice of history. While you don’t have to perfectly match the interior to these styles, it’s great to keep some of the original elements (and nostalgia) intact.
  • Complement colors. A dark brown home exterior would feel off with lime green walls inside. Think about warm and cool tones and try not to overly contrast.

An incohesive theme

The above photo feels super balanced and welcoming. The best interior design is cohesive and coordinated. While this might be tough with a teenager who wants a “beach resort” bedroom despite growing up in landlocked Wisconsin (not that this writer would know…), bad interior design almost always happens when something feels “off” or out of place. 

Cohesive design starts with considering colors AND textures. Metal surfaces work wonders in a cool-themed room, but not as easily in a warmer space. A bookshelf — full of textures like wood and paper — inherently feels a bit off it’s placed in the kitchen.

With all this being said, there is a problem if you get too “matchy-matchy.” I had a friend whose mom did a huge Coca-Cola (of all things) theme in all the bathrooms and it was disorienting. One antique Coca-Cola item could have brought the necessary balance and subtlety.

Too many customizations (especially permanent ones).

The Coca-Cola bathroom is the perfect example. Not only are customizations expensive, they can backfire. 

Interior design must match your style and personality — after all, you live in this space! But you still have to remember how others feel (sellers and guests alike). A good rule of thumb: don’t go too crazy on the custom if you can’t take it with you. 

Sticking too close to what’s trendy in the present.

“Evergreen” is a term that means something is good for a long time and doesn’t go out of style. Just like popcorn ceilings and loud ‘80s wallpaper has fallen off the map, the same will happen for lots of other things that are currently trendy.

Does this mean you should forego all trends and interior design? No! Again, just don’t go too overboard if it’s expensive and/or you can’t take it with you. Your adorable hipster bungalow is fresh now, but you wouldn’t want your decorations to be permanent when things around you start to change.

Supplement your space with accent pieces, or for bigger pieces (like furniture), go with something that could exist in various settings (and trends).

Going overboard on what needs decoration and design.

We all know the cringe that comes from seeing a faded pink toilet and bathtub combo. Not everything in your home has to be decorated or serve as a decoration. Certain things (like tubs and toilets) are just fine existing in the standard white. In fact, it’s what we expect and the absence of it is alarming.

You’ve seen the bad interior design choices, we know they’re out there, but you have the power to break them. If you’re currently looking around your house feeling a little creeped out that we’re describing your exact space, fear not! You can always list with RealtyHive instead of starting interior design from scratch in your current space. Selling your home as-is is a great way to leave the past behind and to start fresh. Start with RH today.

How to Sell Your House During Social Distancing

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Selling a house is a detailed, sometimes complex, and definitely time-consuming process. From finding an agent and setting the right listing price, to staging and marketing and photography, there’s a lot for sellers to do — and that’s not even counting trying to sell during a global pandemic.

But people need to buy houses, and people need to sell their houses. We can’t collectively stop selling while we wait at least a year for a COVD-19 vaccine to come out. If you have asked yourself, Is now really a good time to sell my house?, the answer is yes, you should still put it on the market. You just need to keep your health and the health of potential buyers as the main priority, and to take the following into account.

Consider hiring a Realtor.

Realtors have received tons of information on selling and buying during this time from the NAR (National Association of REALTORS®) and their local MLS. Here are four reasons why hiring a Realtor is a good idea:

  1. Access to industry knowledge. FSBO sellers don’t have immediate access to the insights that Realtors have — not only for selling a house, but for selling specifically during a global pandemic.
  2. Add a level of safety. Realtors will likely know how to set up your space so that it eliminates the chances of contamination as much as possible.
  3. Lighten your load. There are parents of young children being asked to work full time and watch/homeschool their kids full-time. This is an already stressful time — adding another huge responsibility won’t help.
  4. Help someone out. Times are tough for a lot of people. For a part-time Realtor who was laid off or furloughed from their job, commission can mean the world. If you’re in a financial place where you can manage giving some of your sale money over and you know hiring a Realtor will benefit you, this is a win-win.

We think hiring a Realtor is a great solution for many sellers (and we even have cash credit incentives who use RH to find an agent). However, we also know that for some people, FSBO is still going to be the best option. If that’s the case for you, then…

Market your property as normal.

Post on social media, as well as on real estate platforms like Zillow, Trulia, or RealtyHive. Do as much cleaning, staging, and stellar photography as you can on your own. Remember that lighting is key! Bright, clean spaces translate well, even if you don’t have the latest iPhone model. Check out our blog on great examples of real estate photography for ideas.

Set up video tours and go online.

Many aspects of home selling have virtual alternatives. From video tours to even finding the proper closing documents, you could very well end up selling without having to ever shake hands (or even meet in person).

Instead of…Try…
Inviting people overSetting up a Zoom call or FaceTime
Hosting an open houseGoing live on social media or posting a Zoom meeting link for people to join at a certain time
Hosting multiple showings for multiple interested buyersMaking a website, form, or calendar where people can sign up for a virtual showing
Meeting in person to go over closing paperworkDo the paperwork online, including e-signing

Worried about a shaky camera hand and how it might affect your selling potential? Look into getting a gimbal. A gimbal is a support that steadies your phone for an extremely smooth video recording. They’re a little pricey, but some models are under $100 and it could be chump change if it helps you successfully sell your home.

Take extra precautions for an in-person showing.

If you’re selling vacant land, this won’t be nearly as difficult. Just make sure you stand at least 6 feet apart, consider wearing masks, and don’t shake hands. 

While virtual can be great for many things, in the event of buying a house, there’s a good chance that buyers will want a walk-through. Here are some things to keep in mind:

  • Ensure your guests have consistently practiced social distancing (ask them if they’ve social distanced, and to what degree). It is not rude for you to deny someone entry to your house if they aren’t taking this seriously. Health is wealth, and it’s the number one priority through all of this.
    This isn’t to say you should automatically deny essential workers access to your home — if anything, many essential workers are already doing what they can to keep others safe. But if someone is intentionally shirking the necessary precautions, they are putting you (and others) at risk.
  • Only show to people with proof of loan preapproval.
  • Insist that everyone wear masks or some kind of protective covering.
  • Deeply sanitize everything before people enter your home (and again after they leave).
  • Kindly remind guests not to touch anything.
  • Let guests know they can take pictures instead of coming back for a repeat visit.
  • Limit two people per visit, and make sure only one house member is giving the tour.
  • Check with CDC or WHO guidelines for further safety precautions.

Keep these same rules for anyone coming to your home, such as a home inspector.

Connect with a title company and your mortgage institution ASAP.

Title companies and banks are considered essential services. While they’re still operating, many are now offering online or drive-up options to limit contact. However, these institutions have dealt with a boom in calls so you want to act sooner rather than later. Each bank has its own way of dealing with things; find necessary information before you get too far into the selling process.

Sell your home as-is.

You don’t have to have showings in order to sell your home. You can even avoid having a house inspection if you decide to sell as-is. With RealtyHive, your property gets marketing with no upfront costs, amazing exposure, and access to a market of highly motivated buyers. Our time-limited events naturally practice real estate social distancing, even if there isn’t a pandemic to worry about. List with RH today to safely sell your home.

Is It Worth It to Finish a Basement?

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Welcome to the first of our “Is It Worth It To…” series! Homeowners are always trying to add the most value to their home, but projects can get pretty pricey. RealtyHive is here to tell you if the project you’re considering is worth the cost. Today we’re starting at the bottom: the basement.

How much does it cost to finish a basement?

Finishing a basement costs $7,500 on average, if you’re just doing the basics of hanging drywall, painting, and putting in crown molding. Adding in a basement or extra amenities could raise your costs to $25,000 to $30,000 or higher. 

Another thing to keep in mind is the after-project costs. A completely finished basement adds taxable square footage, so expect to pay more in taxes. If you’re suddenly heating this space and turning on the lights more downstairs, your energy bills are also going to increase.

With these prices, is it really worth it to finish your basement? The answer is yes. Take a look at why this is and how it works.

Finishing a basement adds resale value.

At some point, you’ll likely sell your home. If your basement resembles anything like the one above, it might creep a few potential homebuyers out. While the upfront prices of a finished basement are expensive, they can majorly improve your home’s overall value. As HomeAdvisor reports, homeowners can see a return on investment upwards of 65% from finishing a basement.

A finished basement gives you extra space.

If you’ve dreamt of starting an Etsy shop or a YouTube channel or anything in between, a finished basement can give you the space your dreams need. Especially with so many people working remotely, putting a home office in the basement provides some necessary peace and quiet.

Even if you don’t use the basement that much, remember that future homeowners will love seeing the potential of this space. Sometimes, homeowners can even rent out their basements for some extra revenue.

A better basement increases desirability.

As the saying goes, “honey attracts more flies than vinegar.” While no one wants to deal with a bunch of flies, you definitely want as many people interested in your house as possible. Even if you don’t raise the price too much at the time of selling, a finished basement can lead to more interested parties. The more people interested in your home, the more offers you get to choose from.

So, what is a finished basement going to look like?

The amount that your basement is “finished” is up to you, but here are some general ideas.

Basic $Intermediate $$Advanced $$$
– Flooring
– Drywall
– Paint
– New light fixtures		All the basic features, plus:
– A bar/countertop
– Half bathroom
– Built-in storage cabinets		The sky’s the limit! Some ideas include: 
– Bar
– Home theater
– Sauna
– Home gym
– Rec room
– “Man/woman cave”

One thing to remember: while installing a ton of unique features might be appealing, you don’t want to inadvertently limit your buying demographic. Sometimes a design that’s too specific to your tastes can backfire.

Do you have to finish your entire basement?

You don’t have to finish your whole basement, and you probably shouldn’t. It’s good to keep a section where some house essentials (like a sump pump, furnace, or water heater) are easy to access. Preferably, this area of your basement is separate from the finished part — a couch next to a water heater isn’t aesthetically pleasing. 

When does it not make sense to finish a basement?

If you’re dying for a new space but know you’ll be moving within 1-2 years, you should probably hold off. It’s a lot of work and a lot of upfront costs to be leaving so soon after it’s finished. 

The better option at this point is to start looking for a house with a basement that’s already finished. RealtyHive has a number of properties for sale that might be just up your alley — take a look!

The 5 Ws of Building a Custom Home

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We’d like to think that building a dream home is like building a LEGO home or a house on the Sims, except we all know that’s not the case. Building a custom home is a lot of work, but the rewards are pretty incomparable.

We’ve talked about the differences between buying and building a home in past blogs. But if you’re finding yourself more ready to take the leap, there are some essential questions to answer. RealtyHive takes a look at the who, what, where, when, why, and how of home building to help get you started.

Who should build a house?

You’d be a good candidate to build a house if you:

  • Meet all the financial criteria of home ownership
  • Are you looking to live in a developing area
  • Are excited by the idea of building
  • See an opportunity where the building is more beneficial than buying
  • Need or want a custom home (and buying an existing home and renovation would be more expensive).

You don’t have to meet everything on that list to qualify for building a home, it’s more of a guideline. If you have no desire to build, there’s no reason to force yourself to. However, if the type of home you’re looking for is so custom that it’s impossible to find (or way more expensive to renovate), then maybe you should consider the building after all.

What’s the cost difference between buying and building a home?

It depends. In most cases, buying a house is cheaper than building, but that’s not a guarantee. There are plenty of instances where people buy a house that needs a lot of work, and the renovations + house cost ends up costing more than if they had just built.

How do you pay for house building?

When it comes to building, you can get a construction loan that only requires you to pay the interest during the building process. The rest of the loan rolls into your actual mortgage at closing. If you’re worried that you can’t afford to build a house, just know that the payment process isn’t all that different from buying.

Plus, some states offer tax credits to alleviate some of the expenses that automatically apply for homeowners, but homeowners who built their home have to apply for. Homeowners in Wisconsin, for example, get a tax credit through the lottery system. Those who had their home built can get this same credit, but they have to send a form to do so. Do some research on what rebates exist in your state.

There’s another hack that many people are unaware of: you don’t have to put everything in all at once. Adding some things now that can set up for later is a huge cost (and time) saver. For example:

  • Don’t add air conditioning yet, but get forced air heating. Adding A/C later on is extremely easy if you already have forced air.
  • Don’t build the deck right now, but do install a patio door for it.

Where’s a good place to build a custom home?

Building locations depend from state to state — even if you own land, you’ll likely have to consult with local municipalities about building (or contact a general contractor with insight on building permits).

In the case of subdivisions, there are a couple things to note:

  • Builder exclusivity: Some subdivisions only allow you to use certain builders.
  • Restrictive covenants: You’ll have to play by the subdivision’s rules. Often this means no sheds or outbuildings or that your home exterior has to meet certain requirements (i.e. siding colors or incorporating brick for one-fourth of the exterior). 

When is the best time to build a house?

If time is of the essence, spring or summer is a good time to build. Except, of course, if you live in warmer climates, in which case winter might actually be more ideal.

However, if you’re not in a rush, you might want to talk to a building company about starting in the fall. In extremely cold climates, they might be unable to work through the winter. But the benefit to starting in the fall is that work and demand slow down a ton, which could lower your costs.

Why should you build a house?

Other than the appeal of building a custom home, there are several other reasons why people go this route:

  • Building for the future: You can create a highly sustainable, environmentally-friendly smart house from the start.
  • Meets your needs: Did you know that nearly 13% of the population has a disability? Not to mention, most of us eventually need adaptive assistance as we get older. Most homes are built assuming that homeowners can walk up and down stairs or have functioning hearing or vision. Building a custom home means many homeowners can have a home that truly adapts to their needs.
  • Houses are still in demand: The population continues to grow, and people need space to live. 

How do you get started?

You’ll want to have a general outline in mind. How many bedrooms and bathrooms? Two-story, ranch, or split-level? How big of a plot are you looking for? In a subdivision or out in the country? What’s your time frame?

Next, do some research on building teams in the area (if building in a subdivision, talk to them directly). They’ll help you narrow down what you’re looking for and what they can provide, and hopefully have a crew that includes a surveyor, engineer, plumber, and electrician. They will help you clear the land to prepare the area as well.

But before you can jump into any of that, you need land to build on! Look through RealtyHive to find vacant land for sale, and best of luck in your building process.

Apartment vs. Condo vs. House: Which Is Best?

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The birds are chirping, the snow is (hopefully) melting, and that can only mean one thing: the May-June rush to find housing is nearly upon us.

Leases are ending, jobs are changing, and if you’re like one of the countless people in need of a place to live, you’re probably trying to decide between your three options. Should you live in an apartment, a condo, or a house?

Renting Out an Apartment

Pros

Less permanent. Renting an apartment is perfect for the tenant who doesn’t know how long they’ll be in this location. Even if you’re on a year lease instead of month-by-month, you usually have the option to sublease if something comes up and you need to leave. Apartments offer a lot of flexibility.

Less upfront costs. Apartments typically come with an oven, fridge, and access to laundry. Not having to pay for these appliances is a huge money saver.

Less responsibility. Leaking sink? Broken heater? Your landlord will (or at least, they should) take care of it. This frees up a lot of costs that, as a homeowner, you would otherwise have to pay for.

No property taxes. The average homeowner pays nearly $2,300 a year in property taxes. In states like Illinois or California, property taxes are even higher.

Location. You’re more likely to find apartments in the heart of a city or downtown area than you are houses. Apartments are ideal for the renter who loves being near the hustle and bustle. 

Cons

No equity. Oftentimes, monthly rents are not much different than a monthly mortgage payment. The difference is that with a house, you’re paying off a massive financial asset. Unlike an apartment, homeowners get something back for their money. 

More rules. Painting, pets, and even how you hang stuff up in your apartment are all subject to the landlord’s rules. There’s a lot less freedom in renting an apartment.

Buying a Condo

Pros

You own the unit. You can sell later on if you choose, you can potentially rent out this property down the road, and you’re definitely getting more of your money’s worth and building equity.

Less work than a house. No need to worry about shoveling, replacing the roof, or getting new siding. That traditional “Saturdays are meant for yardwork” mentality that many homeowners maintain can be replaced with lounging on your balcony and sipping some coffee.

Potential for more amenities. Condo complexes often are in highly desirable locations. They also sometimes have amenities like workout rooms or swimming pools (things that would cost homeowners much more to install).

Cons

Less privacy than a home. Hopefully, your neighbors are monks practicing an extended vow of silence and meditation, but the odds aren’t likely. Owning a condo still means you’ll have to share walls in most cases instead of having your own plot of land with a house.

Condo fees (and property taxes). Condo association fees are pricey — they range anywhere from $1,200 to $8,000 a year, on average.

It could be tougher to sell. Families, buyers looking for more space, or people wanting some distance from a city will likely lean towards getting a house than a condo. This isn’t to say selling a condo is impossible, but there might be limits on who’s in your buying demographic.

Buying a House

Pros

More freedom. Decorating, landscaping (unless you’re in an HOA), remodeling — the sky is practically the limit for how custom you’d like your home to be.

Equity. As soon as you start paying off your mortgage, you’re starting to build your equity. Owning a house (and making responsible, timely mortgage payments) also helps build your credit.

More space. Condos and apartments are less likely to come with yards. They also are typically surrounded by more tenants (and people in general). Houses have more space (both inside and outside) than apartments or condos.

Sometimes cheaper than renting. If your goal is to live in, say, the Chicago area, there’s a good chance that mortgage payments on a house will cost less than an apartment or condo — even if they’re smaller in square footage. 

This isn’t only true in cities, either. Mortgage payments usually aren’t that different from rental prices, but the difference is that one gives you equity and one does not.

Cons

More responsibility. We can’t stress this enough. Owning a house is a lot of work, a ton of maintenance, and if you’re not financially ready, it will sink you. Buying a house should only happen when you’re thinking long-term and have the foresight to take on the financial and laborious responsibility. Homeownership is highly rewarding, but not for nothing.

More permanent. If you plan on leaving your area and selling in the next few years, buying a house might not be the move. For one thing, many homeowners are subject to paying a capital gains tax if they sell before the 2-year ownership mark. 

Secondly, if there’s anything to be gleaned from 2020, anything can happen. The selling market can change pretty rapidly. If you’re dead set on moving in the next few years, owning a house will complicate things much more than leaving at the end of your apartment lease.

Finding a home and moving is stressful, but there’s some excitement in thinking about the future as well. If you’ve decided to keep renting for now, we wish you the best of luck. But if you’re ready to take the next step, look through our condos and houses for sale to find your dream home!

5 Types of Easements That Every Homeowner Should Know

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Did you ever cut through a neighbor’s yard as a kid? You knew you weren’t supposed to be on their property, but it was so much easier to sneak through their yard than to walk all the way around. 

Most homeowners (understandably) don’t want unexpected guests on their property, and they certainly don’t want anyone messing with their home or yard. But in the case of easements, homeowners don’t really have a choice.

What is an easement?

An easement is the right that someone has to use someone’s land for a specific, legal purpose. For example, your home might sit on top of some pipes that are used by the municipal water company. If something happens to those pipes, the company has every right to tear up your land to fix them, even though you technically own the land that they’re on.

A few things to note:

  • When your property passes over to the next owner, the same easement rules apply.
  • If companies reach out to you for an easement, they’ll likely offer to pay for disrupting your land.
    • If you don’t want them to use your land and they don’t back down, the case could end up in court.
  • Companies will most likely fix (or pay someone to fix) any land disruption as needed.

The 5 Types of Easements

There are several types of easements that exist. Whether you’re a current homeowner who hasn’t dealt with this yet or a potential first-time homebuyer, it’s good to know about each one.

Utility

Utility easements are the most common. Gas lines, electric lines, drain and water pipes stretch all across the country like a subway system. It’s pretty common for people to own a property with a utility easement.

A company might also request access to your land solely to drive to their location. For example, you might live next to a plot of land with a gas line beneath it, and the easiest way to get to it is to drive over your property. In this instance, someone from the gas company would likely survey and talk to you before it happens.

Necessity Easements

Sometimes companies need access to your land suddenly and without having anything in writing. For example, a gas line leak poses a safety threat and requires immediate fixing.

Right of Way

Sidewalks are the most common example of right of way easements. Even though a sidewalk is built on your land, an outside company has access to it. A company might need access to a line running beneath your sidewalk, or they simply might need to repave the entire block.

Private Easements

Property owners sometimes sell easements to other companies. As a modern example, some internet companies might come survey your land and hope to purchase an easement to lay a fiber optic cable. A renewable energy company might reach out to people with lots of land who are located in an ideal spot.

Keep in mind, if you sold a private easement to someone, it’s your responsibility to tell the next homeowners of your house that you did so. 

Prescriptive Easement

A prescriptive easement is when someone needs access over another person’s land for a set period of time, usually for driving over their land. 

If a person is driving over your land for some type of job or work and doesn’t have an easement set up with you, this is technically considered trespassing. Even someone who puts a fence over your boundary is trespassing, unless they have an easement. Prescriptive easements vary in length from state to state, but usually last for 10 or 20 years.

How do I know if there are any easements on my property?

Call public officials or utility companies. Ask a utility company if there are any easements on your property, or contact city hall for county land records for more information.

Ask before you buy. Find out from the sellers if they have any easements, or check with building contractors or land sellers if you’re planning to build.

Know that you might be subject to an easement of necessity. Even if you don’t have any easements on your property, someone might have a right to it at some point if it’s out of necessity.

No matter where you’re at in your buying (or selling) journey, gaining knowledge on easements is definitely an asset. While easements can be an inconvenience, they are oftentimes a necessity to helping life function as normal.

Buying or Selling a Home As-Is

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We all know (or can easily figure out) the concept of buying or something “as-is.” I’m about to try selling my bike as-is for $25 — it works well, but needs some tuning up, the tires are flat and I don’t have a bike pump.

Maybe you’ve seen someone with a “For Sale” sign in the front windshield of their car, parked on the side of the road. There very well might be nothing wrong with it, but the seller thinks they can get a better deal than taking it to a used car dealership by taking matters into their own hands.

When we buy or sell something as-is, that “something” is to be sold and purchased in the state that it’s currently in. But for a massive investment and asset like a house, how does this process work?

Selling a House As-Is

The process of selling as-is is pretty simple. The only real differences from selling the traditional route are:

  • Your listing includes “as-is”
  • If you lived at this house, you have to disclose any/all known issues
    • If you inherited the house, it was a rental you hadn’t lived in, or if it was a bank-owned property, your disclosure requirements are waived.
  • The house doesn’t have to be empty when you move out

With all that in mind, here are some pros and cons to selling as-is:

Pros

You don’t have to clean your house. This is perhaps the biggest benefit to selling as-is. Homeowners with tons of stuff don’t have to clean through and sort everything — they can literally leave their house and its belongings for the next person. This is also beneficial for homeowners who are grieving the loss of a loved one — going through everything can be extremely painful.

You don’t have to fix things up. If that roof has needed replacing for several years but you’ve just never had the time or funds to do so, you don’t have to. Even minor cosmetic issues don’t have to be spruced up.

You might sell faster. Those who invest in real estate are often looking for motivated sellers. There’s a good chance you can get connected with a buyer who’s ready to close in 30 days, with no inspection necessary (this is especially true if you sell with RealtyHive!).

Cons

Your house is almost certainly going to sell for less. All the as-is benefits come with a price. When passing the torch of a rundown house to the next buyer, they won’t go for the property if they can’t afford both the house and the necessary renovations.

Buying a House As-Is

The most important thing to note with buying a house as-is involves inspections and offers. You can still put a home inspection contingency in your offer, but know that the sellers are not obligated to fix anything. This contingency solely protects you from having to purchase the house if, after the inspection, you change your mind about buying. 

For example, you might find out in a house you’re interested in that there’s major foundational damage and termites. You realize the costs are way too high and fixing things would take longer than you’d like. You’ll lose a few hundred bucks on the house inspection, but it’s better than being locked into a home purchase that you later regret.

Pros

You can get a massive deal. Undoubtedly, this is why people buy homes as-is. You could save tens of thousands (and then some) by going this route.

You might love the appeal of a fixer upper. Looking for a major project or love the idea of a house with potential? Buying a house as-is provides that exact opportunity.

You could close faster. With traditional home sales, you might submit one of 20 offers. It could be a few months at least, between submitting an offer and the closing date. Buying as-is can drastically speed up the process.

Cons

You will almost certainly have to deal with lots of issues. Hoarding houses, structural damage — the gamut of home issues runs from moderate to nightmarish when buying as-is. While you could stumble upon an incredible deal with very little to fix, the chances are slim. 

For this reason, including home inspections in an offer letter is necessary, unless you’re completely confident in taking on anything that comes your way. At the very least, consider taking a friend who’s got an eye for home improvement with you to walk by or through the property. 

You might pay more than you bargain (or budget) for. A low price is rarely what you’ll end up paying to make a place liveable. Buying as-is might seem like a steal, but you definitely run the risk of unforeseen costs.

No matter if you’re looking to buy or sell as-is, RealtyHive is the place to go! We list properties from highly motivated sellers and connect them with highly interested buyers — think of us as an as-is online dating service. Fall in love with a new property or our selling process today.

Interior Lighting Design Tips to Increase Home Value

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Our real estate team recently had a lightbulb moment about a very important aspect to interior design. We’ve featured this topic in blogs about staging or renovation, but it’s time to shed some light on one of the most important parts of your home. 

In case you haven’t guessed yet, we’re talking interior lighting design. Not only does the right lighting improve your quality of life, it also adds value to your home. Find out the importance of light and how you can make some lighting-specific home improvements — we promise you they’ll make a difference.

The Importance of Light

Have you ever worked in a space with fluorescent overhead lights and gotten a headache? How about after staring at a screen for too long? What’s your mood after staying in a dark room for too long?

Light affects everything from our mood to our physical well-being. It’s often the reason (even if subconsciously) why people jump to sell or rent out your property versus why they pass it by. Far too often, we overlook lighting and take it for granted as a convenience instead of a necessity. 

The truth is that lighting is like food. Highly processed food and overexposure to bright lights can both make us feel a bit wonky. Natural light and healthy ingredients have the opposite effect. Trying out a new recipe is usually as exciting as installing a new, modern light fixture. With both lighting and food, we feel our best when we’re intentional with how we use it.

Interior Lighting Design Tips

The lighting changes you can make could be part of a bigger remodel project, or could cost under $30. You can pick and choose which lighting changes will add the most value to your home. It’s like we said: as long as you’re intentional, you will see the benefits from updating your lighting design!

Update your fixtures.

Budget: $$-$$$

While there are definitely some pricey options out there, you can find some beautiful, modern full-room light fixtures for less than $300 — some as low as $50. Hiring a professional to install them will add some costs, but adding a new bathroom or kitchen light fixture isn’t as costly as you might think. Plus, it definitely adds some value.

When people walk into a room and see a cool light fixture, that’s usually one of the first things they comment on. You’ll love the modern look, and it will also help you when you’re ready to sell your home. Potential buyers will immediately notice updated fixtures, which piques their interest in the property as a whole.

Bring in some natural light.

Budget: $-$$$

Natural light doesn’t just look amazing and add massive value to a home, it also saves you money. The less you leave the lights on, your energy bill (and wallet) will thank you. Natural light provides more scenery and vistas and less reliance on the artificial.

Not to mention, we live in a selfie culture. This writer knows a friend in Minneapolis who specifically chose to rent out a place because of its natural light, despite having to pay more. Many millennials and Gen Zers want to show off their home and their life. Adding more natural light is a huge benefit to your home’s overall value (and can attract a wider renting or buying demographic).

But how do you add light? Here are a couple ways that range from cheap fixes to remodel overhauls:

  • Hang mirrors
  • Paint walls a lighter tone, in cool or neutral hues
  • Install larger windows
  • Put in a sliding glass door
  • Install window treatments that allow for light to pass through while maintaining privacy

One thing to keep in mind: it’s also nice to block out natural light when you want (especially if you’re like this writer whose bedroom has east-facing windows). Look into some blackout curtains to make daytime Netflix binges or naps as enjoyable as possible.

Switch out lightbulbs.

Budget: $

Your lightbulbs might be clashing with the room they’re in and you don’t even know it. But when it comes time to sell, you can bet that at least one potential buyer will feel like things are off. 

WIthout having to massively overhaul your space, simply look at the tones in a specific room — are they warm or cool? Whatever the answer, update your bulbs to LED ones that match accordingly. Soft white or warm white are good in warm spaces (such as the living room or bedroom), regular LED bulbs for cool areas (such as the bathroom).

Consider dimmers or colorful lighting.

Budget: $-$$

Both these ideas are a bit more fun, but might add a ton of dimension to your home. Dimmer switches range from $50 to $200 but add a massive convenience to any space they’re in. 

Colorful lighting is a growing trend and, when done right, can be a perfectly subtle way to impact the mood of a room. In fact, some people say that certain light colors can impact not just the mood of a room, but the mood of a person. Cool colors are said to increase productivity; warm colors provide a sense of calm. Who knows — maybe a simple lightbulb switch in your home office could drastically change your at-home job performance!

All of these interior lighting design tips can make an incredible difference in your home. But if your home is currently something resembling a cave or a 17th-century dungeon, maybe it’s time to look for something a little… lighter. Check out our RealtyHive listings to find some gorgeous homes for sale (with amazing lighting interior design to boot)!

Should You Buy a House During the COVID-19 Pandemic?

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We live in a time where almost every plan is being put on hold. Weddings, graduations, vacations, scheduled surgeries, and even basic human interaction are all at a standstill (and for good reason) due to coronavirus. But does the same logic apply for buying a house?

At RealtyHive, we have many tools at our disposal and we intend to use them to help our clients and partners through this. Often, some of the biggest opportunities are masked as challenges. We believe that if pursued in a safe and smart way, the same can be said for buying a property.

Why You Should Still Look Into Buying a House

The idea of a regular part of life (like buying a house) might seem strange, if not selfish during this time. After all, millions of people in this country are experiencing job insecurity — is buying a house show a lack of tact or compassion?

Absolutely not. In fact, buying a house can help others, as long as you still keep safety guidelines in mind. While feeling guilty might feel natural, you still have every reason to be proud and excited about the prospect of buying a house. Here are some reasons why home buying is still a good idea:

Buying through a time-limited event is social distance-friendly.

Our bidding process is almost exclusively online. With a time-limited event, you can wait until the day of the event, submit a bid online along with a letter of intent. If your bid is accepted, you buy the property as-is. No crowded open houses or shaking of hands necessary.

Mortgage rates are at historic lows.

The 30-year and 15-year fixed-rate mortgages dropped 15 and 14 points (down to 3.50% and 2.92%), respectively. If your job is safe (or if you don’t rely on a job for income), you might not find a better time to buy. Purchasing a house right now could save you thousands of dollars in the long run.

You might be significantly helping someone out.

Our listings come from highly motivated sellers. A seller might be desperate to get out of the city, or maybe they experienced the painful, awful nature of losing their job during this time. Regardless, they’re wanting (or needing) to sell. No matter their motivations, sellers will likely be thankful that someone is buying their property.

It’s like Corona (the beer) during this time. There’s nothing wrong with Corona beer, and yet they lost millions due to a highly unfortunate and bizarre name similarity. Their company undoubtedly wishes that people would buy their beer, business as usual. The same is true for house sellers. They might have a perfect home up for sale that would normally sell quickly, and the only reason it’s not being bought is because people are afraid to act during these unusual circumstances.

We all still need places to live.

Buying food is a necessity. Getting enough sleep is essential. Having shelter is a basic need. Especially if you’re on track to buy a house as it stands (and have no foreseeable job changes), why put things off? Buy your house now and have even more space to shelter in place.

RealtyHive has the resources you need to safely buy a house and reach your goals. As scary as these times might be, moments of joy still exist and should not be overlooked. Babies are still being born. Couples are still getting engaged. High school seniors are getting college letters of acceptance. Some people are still even getting new jobs. As long as it’s done safely with a social distance (and financially sound) mindset, you not only can still buy a house, you should.