CLEANING YOUR TOUGHEST PATIO AND DECK STAINS

After a long summer, it’s time to clean up around your home and get everything in good shape before the winter comes. Not only does this sort of fall cleaning help your home look nice after the rain and heat of summer, but it can also aid you in finding issues or damage that you might want to take care of as you winterize your home. Some areas that often need particular attention during these cleanup periods are patios and decks.

Part of the reason for this is that many people use their patios and decks more during the summer than at any other time of the year. Various spills, dripping grease and oils from grilling, and assorted other messes can end up on the wood, while changes in weather over the course of the summer can encourage the growth of things like algae and mildew. Knowing how to effectively clean up all of these stains and other issues will not only make your deck or patio look better, but can also result in them lasting significantly longer without needing repairs.

Deck Stain Removal

Effectively cleaning up the various stains that occur on your deck or patio becomes a lot easier if you know the source of the stain. Grease stains, sauces, and similar spills can usually be cleaned with dish soap and a stiff-bristled brush, followed by washing the area thoroughly before it has a chance to start drying again. Dish soap can also be used to remove stains from decomposing leaves; allow it to sit and penetrate for 10 or 15 minutes before scrubbing and rinsing the stains away.

Other types of staining may require different solutions, however. Rust stains may need to soak in a mix of water and white vinegar or specialized acid cleaners to remove the discoloration. Tree sap can also be stubborn and difficult to remove, often needing dedicated deck or patio cleaners or cleaning solutions such as liquid oil soap cleaners. Some stone patios may require specific cleaners that won’t damage the type of brick or stone that’s used as well.

Dealing with Algae, Moss, and Mildew

Discolorations caused by algae, moss, mildew, and mold are usually a bigger problem than other stains, even though the other stains may be more common. The problem with algae, mold and similar growths is that they actually cause damage to the wood or stone of your patio or deck and need to be dealt with as soon as possible. Some growths like moss can be removed with soap, water, and a stiff-bristled brush, but things like algae and mold typically require a bit more. Because these grow into the wood or stone and thrive in moist environments, you’ll need a cleaner that can actually kill them and prevent them from coming back. In some cases, a bleach/water mixture will do the trick, combined with some scrubbing and general cleaning afterward. Special deck and patio washes are also available that are formulated to kill mildew, mold, algae, and similar growths, helping to ensure that you take care of the problem without having to try out different DIY mixtures.

Professional Cleaning

If you haven’t had much luck getting your deck or patio clean or simply don’t have the time to dedicate to the cleanup, there are professional services available that can get the job done for you. They typically use cleaners that are designed for the types of cleanup you need and may employ tools such as a power wash sprayer to really get into all of the places that are hard to reach with a brush or a broom. Depending on the service, they may apply new sealants or other protectants after your deck or patio is clean as well to help you weather the winter unscathed. 

As always, if you have any questions, or would like to buy or sell rural property, The Rural KC Team-Keller Williams Partners, Inc., is the one to call.  913-837-0760 or 913-837-0411.

 

What Should You Do With Your Remodeled Fixer-Upper?

Buying a fixer-upper to renovate is an appealing investment opportunity for some, but once the property is repaired, should you rent it out or sell it? In some areas, renting can be a reliable long-term revenue stream, while in others, it makes more sense to sell. If you’re not sure what the best move is, use this advice from the Rural KC Real Estate Team to help you decide.

Tips for Making a Property More Desirable

The trick to making money flipping homes is to find a property that's undervalued, then make small improvements to get a better price for it. Some of the simplest improvements are ones that increase a property's curb appeal.

For example, a property with a garden might look a lot better with a fresh lawn and a new fence. If you're not skilled at this kind of work yourself, you should hire a fencing contractor. Don't just hire the first contractor you find, though—read Angi fencing reviews online and get multiple quotes. The average cost of a new fence is around $4,500, but actual prices vary depending on the materials, the size of the fence, and your area. Choose a contractor who's licensed and insured, and make sure they check the area for any underground utilities before starting work.

Why Flipping Is Often More Convenient Than Renting

Flipping a property can offer a one-off profit. Many flippers follow the 70% rule. This rule dictates that the cost of a property and any repairs done to it should be no more than 70% of the value of the property after the repairs are completed.

Finding properties that are this undervalued can be difficult, but foreclosure auctions do still offer such opportunities. People who are experienced DIY enthusiasts and can make basic repairs themselves can often turn flipping into a revenue-generating side business this way.

A 30% return on investment can be appealing, but it's a one-off source of income, and once the repairs are completed, the flipper will need to find another property and do the work again to get the next payout. Unless you have enough funding to have more than one property on the go at a time, flipping can be stressful and the income stream may not be stable—especially compared to the monthly income of rental properties. There's a reason there are nearly 50 million properties being rented in the U.S.

The Responsibilities of Being a Landlord

Renting out properties can generate a steady income and could offer tax deductions, too. However, for landlords to benefit from tax deductions and property value appreciation, they have to do a lot more day-to-day work.

Many landlords find themselves having to pay property managers to handle the daily operations of their portfolios, as well as landscapers and other maintenance contractors to look after the properties. This can quickly eat into profits. Non-paying tenants can also be an issue because the process of evicting them can be long and slow in some states. Being a landlord is not easy money.

Have a Business Plan Before You Start

Property renovations should be approached like any other business. Whether you decide to rent out the renovated property or sell, it's a business decision. Run the numbers, talk to some professionals, and understand the market in your area before you start spending money.

Are you in search of an investment property or your forever home in the Kansas City area? Contact the Rural KC Real Estate team!

ARE YOU ON THE FENCE: RENOVATE OR MOVE????

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following:

• 70% of respondents want more outdoor living space
• 69% of respondents want a home office (48% wanted multiple offices)
• 46% of respondents want a multi-function room/flexible space
• 42% of respondents want an au pair/in-law suite
• 39% of respondents want an exercise room/yoga space

If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The decision you make could be determined by factors like:

1. A possible desire to relocate
2. The difference in the cost of a renovation versus a purchase
3. Finding an existing home or designing a new home that has exactly what you want (versus trying to restructure the layout of your current house)

In either case, you’ll need access to capital: the funds for the renovation or the down payment your next home would require. The great news is that the money you need probably already exists in your current home in the form of equity. 

Home Equity Is Skyrocketing

The record-setting increases in home prices over the last two years dramatically improved homeowners’ equity.  The graph below uses data from CoreLogic to show the average home equity gain in the first quarter of the last nine years:Odeta Kushi, Deputy Chief Economist at First American, quantifies the number of equity homeowners gained recently:

“Remember U.S. households own nearly $35 trillion in owner-occupied real estate, just over $11 trillion in debt, and the remaining ~$24 trillion in equity. In inflation adjusted terms, homeowners in Q2 had an average of $280,000 in equity- a historic high.”

As a homeowner, the money you need to purchase the perfect home or renovate your current house may be right at your fingertips.  However, waiting to make your decision may increase the cost of tapping that equity. 

If you decide to renovate, you’ll need to refinance (or take out an equity loan) to access the equity. If you decide to move instead and use your equity as a down payment, you’ll still need to mortgage the remaining difference between the down payment and the cost of your next home.

Mortgage rates are forecast to increase over the next year. Waiting to leverage your equity will probably mean you’ll pay more to do so. According to the latest data from the Federal Housing Finance Agency  (FHFA), almost 57% of current mortgage holders have a mortgage rate of 4% or below. If you’re one of those homeowners, you can keep your mortgage rate under 4% by doing it now. If you’re one of the 43% of homeowners with a mortgage rate over 4%, you may be able to do a cash-out refinance or buy a more expensive home without significantly increasing your monthly payment.

First Step: Determine the Amount of Equity in Your Home

If you’re ready to either redesign your current house or find an existing or newly constructed home that has everything you want, the first thing you need to do is determine how much equity you have in your current home. To do that, you’ll need two things:

1. The current mortgage balance on your home
2. The current value of your home

You can probably find the mortgage balance on your monthly mortgage statement. To find the current market value of your house, you can pay several hundreds of dollars for an appraisal, or you can contact a local real estate professional who will be able to present to you, at no charge, a professional equity assessment report.

Bottom Line

If the past 18 months have refocused your thoughts on what you want from your house, now may be the time to either renovate or make a move to the perfect home.  If you are interested in making a move, please feel free to contact the Rural KC Team-Keller Williams Partners, Inc.  We can help you make a no-hassle move.  913-837-0760 or 913-837-0411.

HOW TO CHOOSE THE RIGHT PROJECTS FOR YOUR HOME

 

Deciding on which projects to invest in for your home is a big deal. If you’re moving, you want to avoid putting too much money into areas that won't create a return.  On the other hand, when you plan to live in your home for the long run, the benefits of your chosen upgrades aren’t always reflected in your home’s value. Fortunately, there are ways to balance your home projects so that you get the best of both: functionality and return on your investment.

 

If You Plan To Sell

 

Although we are stuck in what feels like a perpetual sellers’ market, there are still plenty of things you can and should rectify before putting your home on the MLS. According to home inspection provider US Inspect, this includes leaky toilets, slow drains, and tripping hazards, such as loose carpets. Other repairs or changes to the interior or exterior will be defined by the local market.

 

Your Rural KC agent can help you decide on any other upgrades, updates, or repairs needed before you sell. Keep in mind, however, that you will want to go ahead and plan to stage your home to maximize its appeal. A room-by-room organization system and new light switches don’t sound like much, but it will go a long way toward improving the perception of your home. Another idea is to get rid of extremely dark and oversized furniture and stage your home with modern options that brighten and widen each room.

 

When You Want To Stay

 

Deciding which improvements to make when you plan to stay in your home is much easier. A general rule of thumb is that if it increases your quality of life, reduces costs, or helps you better utilize your space, then it is a good investment.

 

During the spring, summer, and fall, it might be best to start with outdoor upgrades. You can build a patio and fire pit, for example. Both projects utilize pavers and a bit of ingenuity but are a great way to enhance your time outdoors. You might also consider fencing in your backyard, especially if you have a swimming pool. Keep in mind here that you will have to know your property line and, if applicable, any easements that you will have to workaround. In this instance, it might be best to outsource to a fencing company that will know how to pull the pertinent permits.

 

On the interior, focus on rooms that help you use them most efficiently. This might be your kitchen, where new countertops and appliances will go a long way toward creating a luxury cooking experience. You might also spend a weekend painting and installing new hardware in your guest bathroom. If you plan to have visitors in the near future, these little touches will help them feel more at home.

 

How To Know When You Need Help

 

You can do many projects on your own if you’re comfortable with tools and don’t mind doing a little research. But, there are some areas that you should always consult a professional first. Like installing a fence or other outdoor structure, the electrical, plumbing, and HVAC systems in your home require special permits or licenses. These are also expensive, and you have to have extensive knowledge in each area to ensure that it’s done safely and correctly. Poor workmanship here can cost you tens of thousands of dollars and put your family at risk.

 

Picking and choosing which projects to complete in your home aren’t always easy. When you plan to move, you’ll want to be extra selective to ensure that you are updating only what’s necessary for the home to be functional and more in demand than the next. But, when you plan to stay, don’t be afraid to go all out, even if it means calling in a professional. While you may spend more money, you’ll gain quality of life in a house that you’ve made your home.

Thank you to Mike Longston for his contribution to our blog this week.  As always, if you have an interest in buying or selling rural property, give the Rural KC Team a call.  913-837-0760 or 913-837-0411. Visit Ruralkc.com for the latest in country living.