with Andrea Hoffmann

Answers to your home and real estate questions.

Q: What are the top things a buyer wants to see?

A: Of course beauty is in the eye of the beholder. But, if you want me to generalize, I’d say that buyers want homes that have been cared for and well maintained. (Unless, of course, the buyer is planning to knock the home down… which we’re seeing quite a bit in Livingston. In that case, price and location rule.) Beyond that, there’s usually more competition for move-in-ready homes that won’t require the immediate replacement of big ticket items such as the roof, hvac system, siding, driveway, masonry and windows. Lastly, many people are turned off by water problems, so if you have one, fix it pronto (and don’t forget to disclose it when you sell so you don’t end up in a legal snag).

Q: Everything is so expensive these days. Which improvements will pay me back?

A: While TV shows and magazine spreads entice us with gorgeous kitchens and luxurious baths, at the end of the day you still just wind up with a place to cook or bathe, albeit in more style. If you’re after money-saving renovations, investigate a new heating/cooling system and more energy-efficient windows and doors. Insulated siding can do wonders for minimizing heating/cooling leakage. And, if you like the idea of solar, but not the look of the panels, definitely explore the recent innovations in solar shingles. Ask your utility company for a home energy assessment along with recommendations of how your specific home can do better. There may be some available tax rebates, too.

Q: Are rising mortgage interest rates cooling off real estate?

A: Historically, higher interest rates have affected the market since each dollar borrowed now costs more. Between that and the hit of inflation where each dollar buys less, people’s budgets are feeling it. However, in desirable towns like Livingston where inventory is low, the NYC commute is reasonable, and strong schools attract education-focused families, it’s unlikely that the market will come to any sort of screeching halt––even at current rates.

Get your own question featured in The Home Zone! Email me at Andrea.HomeZone@gmail.com.

Andrea Hoffmann is a licensed RealtorⓇ on The Stan Kay Team at Compass, 

1200 Morris Turnpike, Short Hills, NJ 07078. M: 917.714.1369; O: 973.310.6816

This is not advice of any sort: it’s for entertainment.