Equity Loan Advice: Home Improvement Tips for Getting Your Home Ready to Sell

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When budgeting for improving the curb appeal of your home, keep the following in mind: the first priority is to clean, landscape and paint. With what’s left, take care of any necessary repairs. “Update and replace whatever appliances you can– microwave, refrigerator, dishwasher– and replace or refinish old kitchen cabinets,” advises Jimmy Wood, a Realtor with ZipRealty in Los Angeles.

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If it turns out you need a loan, mortgage refinancing from your fixed mortgage rate to an adjustable mortgage rate (ARM) with an initial low interest or getting a small 2nd mortgage may help you cash out on your home equity to make the repairs without putting too much strain on your budget.

Most people don’t like the textured “popcorn” ceiling that is so common with houses built in the 1970s and 1960s. It will be more expensive to remove textured ceilings with asbestos because a licensed professional is required for the job, but it will make your house more marketable.

It is normally not advisable to refinance your mortgage, get a home improvement loan, construction loan or a home equity loan (second mortgage) for anything expensive such as remodeling. Sometimes it you need a loan to help with necessary repairs and upgrades especially if the market is particularly competitive. “These days, regardless of what your budget is, fixing up your home for sale is even more imperative in a transitional market,” says Clay Hinrichs, a Realtor with Prudential California Realty in Studio City.

Many realtors offer basic advice on getting your home ready to sell like making your house like a blank canvas that allows buyers to view it as their potential home by cleaning, removing clutter, and putting away family photos and other items that personalize your home to you and your family in storage.

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