Should you flip or hold Kansas City Real Estate?
In this article we will break down if it’s a smart decision for you to flip or hold your Kansas City Real Estate and what you can expect from the Real Estate market here in the coming months.
Kansas City Real Estate Market Conditions
As of today the median home value for a Kansas City property is now $101,600.
Over the last year home values across Kansas City have declined by over 3.0 percent, so now is a good time for you to hold onto your property and complete those renovation projects you’ve been thinking about.
Many analysts, including Zillow, predict home values to climb in the next year, especially in the metro area, where home values are going to increase by at least 3.7 percent.
Renovation Projects Which Add Value
To help increase the value of your Kansas City home over the next year here’s a list of the top renovation projects which will add value to your property.
#1 – Property clean up – Clean up your property by improving curb appeal (if needed), removing trash or debris, painting fences, trimming trees and power washing your side walk and driveway.
#2 – Clean up your home – Start by cleaning the inside and outside of the windows on your Kansas City home, clean closets, clean the top of your refrigerator and inside medicine cabinets
#3 – Rehab your property – Remove old carpeting from your Kansas City home (especially bathrooms), refinish or paint cabinets, add new hardware to drawers and cabinets, paint walls, add more lighting to each room and restore or replace interior doors.
#4 – Renovation projects – Consider upgrading your kitchen by adding granite counter tops, stainless steel appliances and turning the bathrooms in your home into “spa-like” retreats. You should also remove wood paneling (most buyers hate it) and also scrape popcorn ceilings as well.
#5 – Create more conversation spaces – Depending on the size of your home you should create one or more extra “conversation spaces” by pairing smaller chairs and tables together since this will also make your home feel like it has more space, even if it’s small.
#6 – Make your home tech friendly – Have each room in your home professionally wired to include USB outlets and ports so you can connect to the Internet or watch cable / satellite TV from each room.
#7 – Upgrade flooring – Consider replacing older flooring with hardwood but keep carpeting in the bedroom since most buyers like to wake up with the feel of carpeting under their feet.
What to Look For In a Realtor
Once you’ve renovated your Kansas City Real Estate, and have taken steps to increase its value, you will need to hire the right Real Estate Agent to help you sell your home.
Here’s what you should look for in an agent:
- Experience – Make sure they know the Kansas City Real Estate market and have helped clients buy or sell homes here in the last year.
- Marketing plan – Your agent must be able to present you with a marketing plan to help you successfully sell your Kansas City home.
- They must be a great listener – Regardless if you plan on buying or selling a home in KC, you must also choose an agent who is a great listener and is attentive to your needs.
- You should feel comfortable with them – Remember that if you don’t feel comfortable with your Realtor ®, you’re not going to have confidence that they will represent your best interests when helping you to buy or sell a home.
Contact Orenda Real Estate Services
For more information on the Kansas City Real Estate Market, or to learn more about how you can increase the value of your investment property, contact us today by calling (816) 355-4242 or CLICK HERE to connect with us online.