Nevada County Picayune and Gurdon Times Newspaper Archive

Equity In Home Can Amount To Large Part Of Net Worth

The equity in your home may account for a large percent of your personal net worth. In fact your home may be your largest personal investment. Because so much of your family's financial security is tied up in your home, it makes sense to do everything you can do to maximize your return if and when you decide to sell.

Before you place a For Sale' sign in your front yard, heed the advice of Lynn Russell, family resource management specialist, Cooperative Extension Service, University of Arkansas. Minor improvements and a little elbow grease may mean the difference between a gain or a loss.

First impressions are powerful. If the outside of you home has no curb appeal' it really won't matter what the inside looks like. Potential buyers will never get past the front door.

While the house is on the market, trim and edge the lawn weekly. Rake leaves and sweep drives and sidewalks before the house is shown. Keep toys, bikes, garden hoses and other yard tools neatly stored and out of the yard. Plant extra flowers for additional color and update the landscape. Clean and repair screens on all windows and doors and be sure gutters and windows are clean. Fresh paint on the trim and shutters may encourage a buyer to take a look inside.

People buy homes that appear spacious and clean. If a new paint job for the woodwork and walls is too expensive, clean them to the best of your ability. Don't forget to remove finger smudges from the door knobs and light switch plates. Repair peeling wall paper and clean and polish wood cabinets. Carpet and rugs should be free of stains and odors and windows and mirrors should sparkle.

A potential buyer will try to envision his or her furniture and accessories in your home. This is easier if you've removed some of your clutter. Get rid of everything you can live without to give your home a more spacious look. Eliminate excessive decorations and store extra furniture. Reduce items on kitchen and bathroom counter tops. Clean out closets and other storage areas and arrange items that remain in a neat and organized manner.

Sound can have a negative impact. Correct noises that hint something is wrong. Dripping faucets, squeaking fans, noisy air conditioners and other similar noises may cause a buyer to ask, "What else needs repair?" Odors can be damaging also, so try to make a house smell new. Cleaning, painting and replacing rugs and draperies will help to eliminate odors.

Natural and artificial light make a home seem spacious. Replace burned out light bulbs and clean globes and fixtures. When the house is shown, open drapes or blinds to let light shine in.

By carefully preparing your home for sale rather than just putting it on the market, you can maximize the return on your investment. Fixing up your home doesn't have to mean spending a lot of money. Correcting small problems like an unpleasant odor or a broken window pane is likely to do the trick.

For more information on family housing contact the Extension office at 501 Clay Street in Arkadelphia, 246-2281.