Are upgrades to my house worth it?

For more and more people, a house is an investment, not a place they raise many generations to come. As you get ready to sell your home, you may start to wonder how you can boost the value of your house.

Many upgrades take a significant investment of time and money. You may be limited in what you are willing to devote to a house you want to sell.

Here’s what you should keep in mind as you consider making changes before selling.

Set your boundaries ahead of time

Choosing home improvement projects can start to feel like eating potato chips; one project quickly leads to three or more. Instead, look at the areas that need the most help at the price point you are willing to spend.

Once you narrow down the list of priority projects, get more information about the time, money and emotional commitment it will take to get the job done. An upgraded kitchen floor may be in your budget, but you may not be willing to find an alternative while it is remodeled.

The projects that tend to be worth it

In many cases, the projects that make the most impact fall on either the quick-and-inexpensive side or the major-remodel side, with very little in between. Simple updates like fresh paint and landscaping outside tend to have a significant impact. You may also consider minor updates to interior rooms, such as:

  • Resurfacing cabinets in the kitchen
  • Reglazing your bathtub
  • Adding a deck or patio
  • Replacing windows

On the other side, some additions are not worth the investment, like adding a pool or hot tub or creating a single-interest hobby room.

As you get ready to sell, you should talk to a skilled professional in your area who can give you advice about what will help your house sell.

When is it time to sell a small business?

The last two years have been challenging for small business owners. There was eventually some relief for those who endured some of the pandemic-related restrictions; some even (eventually) saw unexpected growth.

Whether your business is booming or struggling, you may find yourself asking if now is the right time to sell. For those with success, you may want to take advantage of a good market. If your business is no longer thriving, you may be looking for someone with the right combination of ambition and resources to set your company on a new course.

Here’s what you should think about as you decide whether it is time to sell your small business.

Considering all the factors

As you start to consider an offer for your business, it is essential to think about what you invested in getting your business to this point. You will also need to consider your current assets and liabilities, such as:

  • Your commercial lease (and wehther you can reassign it)
  • Your current inventory
  • Employees
  • Outstanding debts

When you sell your business, you want to ensure that you get a reasonable return on your investment. You have spent months and years building your company and reputation; selling your business means passing part of your legacy to someone new.

Is it time to sell?

There are many reasons to decide to sell your company, and none of them mean that you failed. Even if your business is not thriving as you expected, selling your company can be a way to give your business the support it needs to grow to a new level.

When you get to the final question of whether to sell, you need to look at both the business and yourself. You should consider factors, such as:

  • Your ability to continue investing
  • Trends in your industry
  • Current and prospective offers

There comes a time for every business owner to determine when they reach their limit of what they can do for their company.

What does percentage rent mean for my commercial lease?

Getting started with a commercial lease can be an overwhelming process, especially if it is your first one. Many terms can seem clear until it is time to follow them.

One of the most critical terms in your negotiation will be your rent. There are many ways to calculate rent in a commercial lease, but percentage rent is one of the most common.

Here’s what you should know about percentage rent and what it means for your commercial lease.

Calculating percentage rent

The term “percentage rent” can feel a little misleading. The name suggests you will only pay a percentage of your profits.

However, percentage rent is typically a base rent amount plus a portion of your profits. The benefit of this type of lease means that you and the landlord have more profits when you have a good month. It also means that your rent burden is not as high when your earnings are low.

In a commercial lease based on percentage rent, you and the landlord will agree on a break-even point. You will calculate the profit percentage portion of your rent after you meet the break-even point.

Finding the right match

Whether you are looking to expand your current business, change your location or create a physical presence for a new venture, a commercial lease can support your needs as you develop your business. As you start looking at spaces, it is essential to consider both what the space can offer your business and whether your business can support it.

A commercial lease based on percentage rent can be a good fit for a company with a minimum reliable profit so that you can sustain the base rent. Then, as your business grows, both you and the landlord can reap the benefits of your developing business in its new location.  

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Meet Connie and Dave

Welcome to the Bossard Real Estate Group blog. We are excited to launch our new website and blog so you can stay up to date on our team and how we can serve you.

First, we would like to give you a chance to learn more about Connie and Dave Bossard.

Hi, I’m Connie!

Connie is licensed as both a Realtor and broker. She is skilled and experienced in commercial and residential buying and selling. Connie has been helping people find or sell properties in the area for over 20 years.

In addition to real estate, Connie is an active member of the community. She enjoys outdoor activities like golfing and riding horses, as well as planning events in the White Bear Lake area, such as the Taste of White Bear.

Nice to meet you, I’m Dave!

Dave is a licensed Realtor and has worked in commercial real estate, existing sales and new construction. He has been working with buyers and sellers for many years.

When he is not helping people with their next real estate investment, Dave enjoys time with his wife and family. Like Connie, Dave also enjoys golfing and being involved with the community.

Let’s get in touch!

Now that you know a little more about us, we are excited to get to know you! Keep looking for more blogs, and “like” us on social media @BossardRealEstateGroup.